REGISTERED CHARITY NUMBER: 1199415
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2025
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 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Report of the Independent Auditors | 6 | to | 8 |
| Statement of Financial Activities | 9 | ||
| Balance Sheet | 10 | ||
| Notes to the Financial Statements | 11 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
The Africa College Foundation (UK)
Report of the Trustees for the Year Ended 31 December 2025
The trustees present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance and promote learning and education at or in connection with the Maharishi Invincibility Institute (MII) in South Africa and elsewhere through the provision of grants of financial assistance.
Significant activities
ACF (UK) pursues its objectives primarily through the provision of grants of financial assistance to support education and learning at the Maharishi Invincibility Institute in South Africa. Alongside grant-making, the charity conducts fundraising activities, builds partnerships with donors and organisations aligned with its mission, carries out advocacy and research to advance consciousness-based education, and provides technical support to MII. All activities are undertaken in furtherance of the charity's charitable objects and subject to the oversight and approval of the board of trustees.
Public benefit
The trustees confirm that they have had regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The charity advances education by supporting the Maharishi Invincibility Institute in providing high-quality, demand-driven education to young people in South Africa, the majority of whom come from disadvantaged backgrounds. The trustees are satisfied that the charity's activities provide a direct and demonstrable public benefit.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
During 2025, ACF (UK) continued to expand its operations and deepen its impact in advancing consciousness-based, demand-driven education in South Africa. A highlight of the year was our charity dinner held to mark the 50th anniversary of South Africa Youth Day, hosted in partnership with Capricorn Private Investments, Vivat Bacchus, Humble Grape, and Anglo American - an event that raised much-needed resources while honouring the lives lost in Soweto on 16 June 1976.
Our model continues to demonstrate measurable impact: over 94.7% of graduates transition directly into stable income generation pathways, and given that each student supports an average of six family members, the Foundation's work generates a profound and immediate ripple effect that lifts entire families out of poverty, helping to close the gap between the extremes of wealth and inequality.
Over the course of the year the charity also:
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Published its first impact report, launched in November 2025.
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Secured a double-down grant from its founding funder, alongside a number of smaller grants.
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Commissioned a study on the efficacy of Consciousness-Based Education.
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Had its CEO present at a range of events to raise the profile of the Maharishi Invincibility Institute.
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Built relationships across a broad range of stakeholders to advance its work.
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Completed an expansion of its board of trustees.
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Established a team of Goodwill Ambassadors.
FINANCIAL REVIEW
Financial position
During the year ended 31 December 2025, the charity received total income of £234,045 (2024: £103,429), comprising £210,227 of unrestricted donations and grants and £23,818 of restricted donations and grants.
Total expenditure on charitable activities amounted to £139,672 (2024: £130,471), resulting in a net income for the year of £94,373 (2024: net expenditure of £27,042).
Total funds carried forward at 31 December 2025 were £180,595 (2024: £86,222), all of which are held as unrestricted funds. The restricted funds received during the year were fully expended in the period and there is no restricted fund balance carried forward.
The trustees consider the charity's financial position to be satisfactory. The significant increase in income compared to the prior year reflects strong fundraising performance, and the resulting surplus has materially strengthened the charity's reserves position.
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The Africa College Foundation (UK)
Report of the Trustees for the Year Ended 31 December 2025
FINANCIAL REVIEW
Reserves policy
The trustees' policy is to maintain a minimum level of free reserves of £25,000. Reserves are held to provide a contingency against unforeseen developments and to support the continuity of the charity's operations. The charity holds restricted funds, which are designated for specific projects or purposes, and unrestricted funds, which may be applied at the trustees' discretion to any of the charity's objectives. At the year end, free reserves stood at £179,825, which the trustees consider sufficient to meet the charity's needs. The reserves policy is reviewed every 24 months.
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The Africa College Foundation (UK)
for the Year Ended 31 December 2025
Report of the Trustees
FUTURE PLANS
The Trustees' key priorities for the coming years centre on consolidation, regional expansion, and long-term financial self-sufficiency of MII. These strategic goals directly support ACF (UK)'s overarching ambition: to scale the world's first self-funding, holistic university chain designed specifically for socioeconomically marginalised African youth.
Grounded in Consciousness-Based Education (CBE) MII bridges the gap between higher education and immediate but sustainable economic participation.
Near-Term Priorities: Operational Consolidation & Global Reach
• Campus Infrastructure & "Education Town": In the immediate term, ACF (UK) will continue supporting the Maharishi Invincibility Institute (MII) in completing the renovation and full occupancy of its primary facilities, targeting full operational capacity by 2027. This includes advancing the ambitious "Education Town" urban regeneration project in Johannesburg's Central Business District-transforming the city centre into a vibrant, but more importantly, an inclusive Cambridge meets Silicon Valley style integrated education and innovation hub.
• International Fundraising Expansion: To secure the capital required for these physical and programmatic expansions, ACF (UK) is broadening its fundraising reach beyond the UK to North America, the EU, Australasia, and the Gulf states. The Foundation will channel philanthropic giving, legacy funds, corporate and academic grants, impact investments, and volunteer support to build a globally diversified donor base.
The Five Strategic Pillars for Growth
To guide long-term development, the Trustees are executing against five strategic pillars:
1. Multi-Campus & Regional Expansion
ACF (UK) aims to establish or expand additional MII tertiary campuses by 2030. The plan targets high-demand urban centres-including proposed developments, complemented by ultra-low-cost local institutes in rural areas and townships to ensure total geographic inclusion in in Durban, Bushbuckridge, Ezemvelo, Zvishvane, and Gaborone.
2. Sustainable Revenue Ecosystems
To achieve true financial independence without relying solely on traditional philanthropy, ACF (UK) is building self-sustaining campus revenue models. By partnering with system-change innovators, social enterprise incubators, and high-growth sectors (such as BPO and digital services), campuses will offer "Learn & Earn" work-experience placements. Additionally, a structured "Pay-It-Forward" model enables employed graduates to fund future cohorts, creating a self-perpetuating cycle of social mobility.
ACF (UK) is also pioneering a Pan-African scheme whereby specific countries set up perpetual bursaries to send students to Education Town to study in the short term, and replicate the same in their home countries, in the long term.
3. Flexible, Demand-Driven Academic Models
The Foundation will refine an adaptable academic framework that continually aligns curricula with evolving workforce needs. Blending in-person instruction with digital systems, MII will deliver accredited degrees alongside specialised, industry-recognised micro-certifications designed to guarantee graduate employability.
4. Modern Facilities & Specialised Innovation Hubs
ACF (UK) is enabling MII to invest in state-of-the-art, community-driven spaces that foster student agency, technical mastery, and holistic personal growth. Strategic priority projects include:
• Technology Innovation Centre / Maharishi NextUp Institute of Technology: An advanced tech accelerator providing hard skills in AI, cybersecurity, and digital systems.
• Specialised Industry Academies: Dedicated training academies focusing on high-growth sectors: security, mining, and conservation.
• Holistic & Community Hubs: Capital expansion of the Maharishi Montessori and High Schools to support early childhood and teen development.
5. Scaled Enrolment Trajectory
ACF (UK) has a clear growth roadmap to enable MII to scale higher education access for youth across Sub-Saharan Africa:
• 5,000 students by 2027
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7,500 students by 2030
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10,000 students by 2035
Capital Mobilisation & The Perpetual Bursary Fund
To anchor these growth targets in long-term financial resilience, ACF (UK) is actively working with MII and its subsidiaries to grow the capital base of the Perpetual Bursary Fund to US$25 million through new donor commitments, major philanthropic contributions, and strategic corporate partnerships. The annual goal of ACF (UK) is to raise £2M.
At full maturity, this blended financial model-combining endowment returns, corporate learn-and-earn revenue, and graduate contributions-will drastically reduce the cost per student, yielding an unmatched social return on investment (SROI) and lifting entire multigenerational families out of poverty.
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The Africa College Foundation (UK)
for the Year Ended 31 December 2025
Report of the Trustees
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a Charitable Incorporated Organisation (CIO Foundation), registered with the Charity Commission for England and Wales on 22 June 2022. It is governed by its constitution.
Recruitment and appointment of new trustees
During 2025, the board underwent a period of expansion. New trustees are recruited based on the skills and experience needed to support the charity's strategic objectives and were provided with an induction upon appointment.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1199415
Principal address
60 Chesterfield Road London EN5 2RF
Trustees
Ms K Kuper (resigned 30.3.25) Mr L L Andrews Dr A Z Nyamapfene Ms C Bronstein 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) Mr A H Rama (appointed 26.2.26)
Auditors
Nordens Audit Limited Statutory Auditors The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.
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The Africa College Foundation (UK)
Report of the Trustees for the Year Ended 31 December 2025
10/08/2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Amit Rama
Amit Rama (Aug 10, 2026 17:30:51 GMT+1) ........................................................................ Mr A H Rama - Trustee
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Report of the Independent Auditors to the Trustees of The Africa College Foundation (UK)
Opinion
We have audited the financial statements of The Africa College Foundation (UK) (the 'charity') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 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 auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Report of the Independent Auditors to the Trustees of The Africa College Foundation (UK)
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that:
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had a direct effect on the determination of material amounts and disclosures in the financial statements. These include but are not limited to GDPR, employment and Health & Safety legislation and tax legislation, and
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do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These include operational and employment laws and regulations including health and safety regulations, environmental regulations and GDPR.
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making enquiries with management and those responsible for legal and compliance frameworks. We corroborated our enquiries through review of correspondence with regulatory bodies and gaining an understanding of the entity level controls of the company in respect of these areas and the controls in place to reduce opportunity for fraudulent transactions.
We discussed among the audit engagement team including relevant internal tax specialists, regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. We also communicated the applicable laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates.
Procedures performed to address these were as follows:
- Walkthrough testing was carried out to identify and assess the design effectiveness of controls, management have in place to prevent and detect fraud, including known of suspected instances or non- compliance with laws and regulations and fraud,
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,
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Using analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud,
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Assessing the appropriateness of accounting estimates and challenging any significant assumptions or judgements made by management,
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Incorporating testing of manual journal entries that were posted throughout the year. In particular, we focused on material journal entries, journal entries posted with unusual account combinations, and journal entries crediting revenue or cash. These were scrutinised for evidence of unusual entries,
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Selecting specific revenue transactions based on risk criteria and obtaining supporting documentation including sales invoice and corresponding purchase documentations to ensure revenue was appropriately recorded,
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Reviewing specific cost of sale transactions based on risk criteria and reviewing invoice documentation to ensure the expense was appropriately recorded,
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Evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
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Report of the Independent Auditors to the Trustees of The Africa College Foundation (UK)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Nordens Audit Limited Statutory Auditors The Retreat 406 Roding Lane South Woodford Green Essex IG8 8EY 10/08/2026 Date: .............................................
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The Africa College Foundation (UK)
Statement of Financial Activities for the Year Ended 31 December 2025
| 31.12.25 | 31.12.24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations | 210,227 | 23,818 | 234,045 | 103,429 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| General Fund | 115,854 | - | 115,854 | 130,471 | ||
| Restricted | - | 23,818 | 23,818 | - | ||
| Total | 115,854 | 23,818 | 139,672 | 130,471 | ||
| NET INCOME/(EXPENDITURE) | 94,373 | - | 94,373 | (27,042) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 86,222 | - | 86,222 | 113,264 | ||
| TOTAL FUNDS CARRIED FORWARD | 180,595 | - | 180,595 | 86,222 |
The notes form part of these financial statements
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The Africa College Foundation (UK)
Balance Sheet
31 December 2025
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Debtors 5 354 - Cash at bank 182,260 - 182,614 - CREDITORS Amounts falling due within one year 6 (2,019) - NET CURRENT ASSETS 180,595 - TOTAL ASSETS LESS CURRENT LIABILITIES 180,595 - NET ASSETS 180,595 - FUNDS 7 Unrestricted funds TOTAL FUNDS |
31.12.25 Total funds £ 354 182,260 182,614 (2,019) 180,595 180,595 180,595 180,595 180,595 |
31.12.24 Total funds £ - 97,972 |
|---|---|---|
| 97,972 (11,750) |
||
| 86,222 | ||
| 86,222 | ||
| 86,222 | ||
| 86,222 | ||
| 86,222 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 10/08/2026
Amit Rama
Amit Rama (Aug 10, 2026 17:30:51 GMT+1) ............................................. Mr A H Rama - Trustee
The notes form part of these financial statements
Page 10
The Africa College Foundation (UK)
Notes to the Financial Statements for the Year Ended 31 December 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
The charity’s income arises entirely from voluntary donations received from individuals, companies, and other organisations in support of its charitable objectives.
Income from donations is recognised in the Statement of Financial Activities when the charity is entitled to the funds, the amount can be measured reliably, and receipt is probable. Income received for specific purposes is treated as restricted funds, while all other income is unrestricted.
The charity did not generate any income from trading activities, investments, or charitable service provision during the year.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. 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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
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The Africa College Foundation (UK)
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.25 | 31.12.24 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Trustees | 8 | 7 | |||||||
| The number of employees whose employee benefits (excluding | employer | pension costs) | exceeded £60,0 | 00 | |||||
| was: | |||||||||
| 31.12.25 | 31.12.24 | ||||||||
| £80,001 - £90,000 | 1 | 1 | |||||||
| 2025 | 2024 | ||||||||
| £ | £ | ||||||||
| Salaries and wages | 85,000 | 85,000 | |||||||
| Social security costs | 2,619 | 4,839 | |||||||
| Pension costs | 1,321 | 1,322 | |||||||
| Totals | 88,940 | 91,161 | |||||||
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||||||||
| Unrestricted | Restricted | Total | |||||||
| fund | fund | funds | |||||||
| £ | £ | £ | |||||||
| INCOME AND ENDOWMENTS FROM | |||||||||
| Donations | 103,429 | - | 103,429 | ||||||
| EXPENDITURE ON | |||||||||
| Charitable activities | |||||||||
| General Fund | 130,471 | - | 130,471 | ||||||
| NET INCOME/(EXPENDITURE) | (27,042) | - | (27,042) | ||||||
| RECONCILIATION OF FUNDS | |||||||||
| Total funds brought forward | 113,264 | - | 113,264 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 86,222 | - | 86,222 | ||||||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 31.12.25 | 31.12.24 | ||||||||
| £ | £ | ||||||||
| Prepayments | 354 | - |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
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The Africa College Foundation (UK)
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.12.25 | 31.12.24 | |||
| £ | £ | |||
| Trade creditors | - | 4,446 | ||
| Taxation and social security | 2,019 | 2,891 | ||
| Other creditors | - | 4,413 | ||
| 2,019 | 11,750 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.25 | in funds | 31.12.25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 86,222 | 94,373 | 180,595 | |
| TOTAL FUNDS | 86,222 | 94,373 | 180,595 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 210,227 | (115,854) | 94,373 | |
| Restricted funds | ||||
| Restricted | 23,818 | (23,818) | - | |
| TOTAL FUNDS | 234,045 | (139,672) | 94,373 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 113,264 | (27,042) | 86,222 | |
| TOTAL FUNDS | 113,264 | (27,042) | 86,222 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 103,429 | (130,471) | (27,042) | |
| TOTAL FUNDS | 103,429 | (130,471) | (27,042) |
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The Africa College Foundation (UK)
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.24 | in funds | 31.12.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 113,264 | 67,331 | 180,595 |
| TOTAL FUNDS | 113,264 | 67,331 | 180,595 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 313,656 (246,325) 67,331 23,818 (23,818) - 337,474 (270,143) 67,331 |
Incoming Resources Movement resources expended in funds £ £ £ 313,656 (246,325) 67,331 23,818 (23,818) - 337,474 (270,143) 67,331 |
|---|---|---|
| 67,331 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
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The Africa College Foundation (UK)
Detailed Statement of Financial Activities for the Year Ended 31 December 2025
| Detailed Statement of Financial Activities for the Year Ended 31 December 2025 |
||
|---|---|---|
| 31.12.25 | 31.12.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations | ||
| Donations | 221,541 | 103,429 |
| Bursary | 10,574 | - |
| Other revenue | 1,930 | - |
| 234,045 | 103,429 | |
| Total incoming resources | 234,045 | 103,429 |
| EXPENDITURE | ||
| Charitable activities | ||
| Charitable donations | - | 23,603 |
| Direct expenses | - | 342 |
| - | 23,945 | |
| Support costs | ||
| Management | ||
| Consultancy fees | 4,500 | - |
| Finance | ||
| Bank charges | 435 | 98 |
| Human resources | ||
| Wages | 85,000 | 85,000 |
| Employers national insurance | 2,619 | 4,839 |
| Pensions | 1,321 | 1,322 |
| 88,940 | 91,161 | |
| Other | ||
| Insurance | 187 | 472 |
| Telephone | (86) | 86 |
| Postage and stationery | (109) | 487 |
| Advertising | 2,595 | 1,147 |
| Entertainment | 799 | 4,413 |
| Travel and subsistence | 6,521 | 387 |
| Subscriptions | 2,072 | 194 |
| Software licences | 119 | 144 |
| Health Education | 23,818 | - |
| 35,916 | 7,330 | |
| Governance costs | ||
| Auditors' remuneration | 4,200 | 2,520 |
| Bookkeepers fee | 5,681 | 5,417 |
| 9,881 | 7,937 | |
| Total resources expended | 139,672 | 130,471 |
| Net income/(expenditure) | 94,373 | (27,042) |
This page does not form part of the statutory financial statements
Page 15
Africa College - Ye 31.12.2025 - Final v3
Final Audit Report
2026-08-10
Created: 2026-08-10 By: selen kinyok (selen.k@nordens.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAkNA5_f3LHmNbSsOXjoG_zT1IOLWMbrTK
"Africa College - Ye 31.12.2025 - Final v3" History
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