## **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
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5
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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**|||
||||
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|**Name of chief executive or names of senior staff members (optional information)**|||
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## **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||
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|**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
1
## **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|||
||||aniels (Nov 29, 2024 13:28 GMT)|||||
|||Shereen D||||||
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CC17a (Excel)
29/11/2024
2
## **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:
- Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
- and with the Charities Act.
CC17a (Excel)
29/11/2024
3
## **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
4