Trustees’ annual report (including Directors’ report) for the period
From: 29.11.2022 To: 31.11.2024
Charity name: The African Diaspora Economic Inclusion Fund
Charity registration number: 1201183
Company number:
Objectives and activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the CIO are, for the public benefit to promote equality and diversity for the African Diaspora, with a particular focus on women, in particular but not exclusively by. |
| 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 |
Promotion of activities to foster understanding between people from diverse racial backgrounds in the business sector; Advancing education and raising awareness of the issues of economic inequality affecting the African Diaspora; Providing support to African Diaspora owned businesses, in particular businesses owned by African Diaspora women |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees can confirm this. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference N/A Para 1.38 Policy on grant making N/A Para 1.38 Policy on social investment including program related investment
| Contribution made by volunteers |
Para 1.38 | N/A |
| Other | N/A |
Achievements and performance
The Charity was dormant during this period. Summary of the main Para 1.20 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.
Additional information (optional) You may choose to include further statements where relevant about:
N/A Para 1.41 Achievements against objectives set N/A Para 1.41 Performance of fundraising activities against objectives set N/A Para 1.41 Investment performance against objectives
N/A Other
Financial review
| Financial review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | No transactions took place during this period. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | No reserves held. |
| Amount of reserves held | Para 1.22 | Nil |
| Reasons for holding zero reserves |
Para 1.22 | The Charity was dormant during this period. |
| Details of fund materially in deficit |
Para 1.24 | Nil |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The Charity has not begun any activity. |
Additional information (optional)
You may choose to include further statements where relevant about:
N/A Para 1.47 The charity’s principal sources of funds (including any fundraising) N/A Para 1.46 Investment policy and objectives including any social investment policy adopted N/A Para 1.46 A description of the principal risks facing the charity N/A Other
Structure, governance and management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document: for example,trust deed, memorandum and articles of association etc |
Para 1.25 | CIO Constitution |
| How is the charity constituted? for example limited company, unincorporated association, CIO |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. This is detailed within our constitution. |
Additional information (optional) You may choose to include further statements where relevant about:
N/A Para 1.51 Policies and procedures adopted for the induction and training of trustees N/A Para 1.51 The charity’s organisational structure and any wider network with which the charity works N/A Para 1.51 Relationship with any related parties N/A Other
Reference and administrative details
Charity name The African Diaspora Economic Inclusion Foundation Other name the charity uses ADEIF Registered charity number 1201183 Charity’s principal address 159 Princes Street, Ipswich, IP1 1QJ
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Shereen Daniels | ||||
| Adjoa Anim | ||||
| Kit Ahweyevu- Jones |
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– Corporate trustees names of the directors at the date the report was approved Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets None held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
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 |
||
| Name of chief executive or names of senior staff members (optional information) | ||
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The company has taken advantage of the small companies’ exemption in preparing the report above.
The trustees declare that they have approved the trustees’ report (including directors’ report) above.
Signed on behalf of the charity’s trustees/directors
Signature(s) Shereen Daniels (Nov 29, 2024 14:29 GMT) Full name(s) Shereen Daniels Position (for example Chair Secretary, Chair, etc) Date 29/11/2024
| The African Diaspora Economic Inclusion Foundation | The African Diaspora Economic Inclusion Foundation | The African Diaspora Economic Inclusion Foundation | Charity No (if any) |
1201183 | CC17a | |
|---|---|---|---|---|---|---|
| Annual accounts for theperiod | ||||||
| Period start date | 29.11.2022 | To | Period end date |
30.11.2024 | ||
| Section A | Statement of financial activities | |||||
| Recommended categories by activity Details of own analysis Note Incoming resources Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 Total funds carried forward Total funds brought forward Net movement in funds Net incoming/(outgoing) resources before transfers Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds Total resources expended Total incoming resources |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
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CC17a (Excel)
29/11/2024
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Section B Balance sheet
| Fixed assets Tangible assets Investments Total fixed assets Current assets Stock and work in progress Debtors (Short term) investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year Provisions for liabilities and charges Net assets Funds of the Charity Unrestricted funds Restricted income funds Endowment funds Total funds Signed by one or two trustees on behalf of all the trustees |
Note B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 |
Unrestricted funds £ F01 |
Restricted income funds £ F02 |
Endowment funds £ F03 |
Total this year Total last year £ £ F04 F05 |
Total this year Total last year £ £ F04 F05 |
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| Signature | Date of approval Print Name |
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| aniels (Nov 29, 2024 13:28 GMT) | |||||||
| Shereen D | |||||||
CC17a (Excel)
29/11/2024
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Section C Notes to the accounts
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
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Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
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and with the Charities Act.
CC17a (Excel)
29/11/2024
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Section C Notes to the accounts (cont)
Note 2 Accounting policies
INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when: resources the charity becomes entitled to the resources; the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability. Incoming resources with Where incoming resources have related expenditure (as with fundraising or contract income) related expenditure the incoming resources and related expenditure are reported gross in the SoFA. Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to and gifts which they relate. Contractual income and This is only included in the SoFA once the related goods or services have been delivered. performance related grants Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the Gifts in kind amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. Donated services and These are only included in incoming resources (with an equivalent amount in resources facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and material . The value placed on these resources is the estimated value to the charity of the service or facility received. The value of any voluntary help received is not included in the accounts but is described in the Volunteer help trustees’ annual report. Investment income This is included in the accounts when receivable. Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Governance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants with performance Where the charity gives a grant with conditions for its payment being a specific level of service conditions or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without These are only recognised in the accounts when a commitment has been made and there are performance conditions no conditions to be met relating to the grant which remain in the control of the charity. Support Costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ASSETS Tangible fixed assets for use These are capitalised if they can be used for more than one year, and cost at least £500. They by charity are valued at cost or a reasonable value on receipt. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress These are valued at the lower of cost or market value.
CC17a (Excel)
29/11/2024
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