2023-12-31-accounts - Asanteman UK

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees Report and Financial Statements For the Year Ended 31 December, 2023

ASANTEMAN UK Registered Charity No: 1202975

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

CONTENTS	Page
Legal and administrative information	3
Report of the Trustees	4
Report from Reporting Accountant	11
Statement of financial activities	13
Balance sheet	14
Notes to the financial statements	15

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees: Rapheal Amoateng Ken Kessie Ruth Boateng Registered Office: 38 Stenning Avenue Linford STANFORD-LE-HOPE Essex SS17 0RP Charity Number: 1202975 Accountants: Jacob Manu & Co Boardman House 64 Broadway Stratford London E15 1NT

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

REPORT OF THE TRUSTEES

The Trustees present the Annual Report and financial statements of ASANTEMAN UK for the year ended 31/12/2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005) in preparing the Annual Report and Financial Statements of the charity/company. The Report and Financial Statements also comply with the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status and Governing document

The objects and powers of the Charity were established in the Constitution of the Charity and the Charity is governed by it. The trustees are responsible for arranging and organising Annual General Meetings - AGM.

Appointment

The Trustees who held office during the financial year and at the date of this report are set out on page 3. The Charity elects the Trustees in accordance with the rules set out in the Constitution. The board supports the principles of good governance set out in the Charity Governance Code.

When recruiting Trustees, the board aims to attract a range of candidates with the skills and expertise required to deliver the Charity’s charitable objectives. All appointments are made on merit and in the best interest of the Charity. Trustees receive no remuneration for their services.

The Charity Management's appointment method is also set out in the Charity Constitution.

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

Induction and Training

Trustees, as part of their induction and training, go through a series of training where they are briefed on their legal obligations and the Charity Commission’s guidance on public benefit. The objectives and aims of the Charity are explained. Trustees and volunteers are also encouraged to attend appropriate external training events, which will facilitate the undertaking of their role.

Organisation

The Board of Trustees and Management members are responsible for the overall strategy and direction of the Charity. The Board of Trustees and Management members are responsible for all the foundation's activities. The Trustees give their time on a voluntary and unpaid basis. The Foundation Management has broad responsibilities.

Risk Management

The trustees have assessed the significant risks to which the charity is exposed, particularly those related to the operations and finances of the charity and are satisfied that, systems are in place to mitigate exposure to the significant risks. The trustees have a risk management strategy which comprises:

Regular financial review to ensure the continuity of charitable activities;
Ensuring all equipment is in good condition and safe for use;
Competence-based training for volunteers and trustees;
liability insurance;
Monitoring of new legislative requirements.
Policies and procedures for children and vulnerable adults protection.
Health and safety risks

Interest of Board of Trustees

No member of the Trustees had, at any time during the period under consideration, any interests in the charity which require disclosure in this report.

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

AIMS AND PURPOSE/OBJECTIVES

The ASANTEMAN UK was set up to, among others, to bring all people of Asante heritage together. The principal activities of the Charity include:

1. TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE ARTISTIC AND CULTURAL HERITAGE OF ASANTEMAN CULTURE, PARTICULARLY BY PROMOTING WORKSHOPS, CONCERTS AND FESTIVALS THAT CELEBRATE THE CULTURAL HERITAGE AND MUSIC OF ASANTEMAN.

2. TO ACT AS A RESOURCE FOR YOUNG PEOPLE LIVING IN WEST AFRICA BY PROVIDING ADVICE AND ASSISTANCE AND ORGANISING PROGRAMMES OF EDUCATIONAL AND OTHER ACTIVITIES AS A MEANS OF: A. ADVANCING IN LIFE AND HELPING YOUNG PEOPLE BY DEVELOPING THEIR SKILLS, CAPACITIES AND CAPABILITIES TO ENABLE THEM TO PARTICIPATE IN SOCIETY AS INDEPENDENT, MATURE AND RESPONSIBLE INDIVIDUALS; B. ADVANCING EDUCATION; C. RELIEVING UNEMPLOYMENT.

OBJECTIVES, AIMS AND PRINCIPAL ACTIVITIES

ASANTEMAN UK is committed to enabling as many people as possible to access the Charity’s programmes and activities. The Trustees and the Charity’s volunteers review community needs and seek to unite people, create opportunities and meet those needs by the Charity’s charitable objectives.

When planning our activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefit, particularly the specific guidance on charities that preserve the cultural heritage of the people.

A summary of the result of ASANTEMAN UK's activities during the period is given in the Statement of Financial Activities on page 16. The total income of the charity amounted to £35,092. The income was spent judiciously to meet the objectives of the Foundation.

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

Volunteers

Without our volunteers' selflessness, hard work and dedication, we couldn’t have achieved our aims and objectives. The volunteers contribute significantly to running the Foundation and enable it to fulfil its objectives.

Financial Review

The book values of the assets held at the year-end are, in the opinion of the Board of Trustees, as stated in the financial statements. Our principal source of funds comes from the generous donations of committed individuals and organisations. Total receipts of £35,092 were spent to promote the Charity and charitable activities.

Reserves Policy

The Trustees have identified the need for reserves to be held. Developing a reserves policy will assist in strategic planning, such as considering how new projects or future activities will be funded. To ensure sustainability and continuity of funding future activities, the trustees plan to have unrestricted funds to cover at least three months of unrestricted payments. This policy will be reviewed regularly to meet the charitable needs of the Foundation.

Investment Policy

The Trustees can invest in such assets as they see fit. The charity's investment policy is appropriate to the nature of the funds for which the investment is held. The primary investment aim is to provide high security and liquidity and maximise returns whilst adopting a conservative approach. This policy is not yet implemented.

Grant Making Policy

As part of our charitable objectives of providing aid to the needy, grants are not made but donations are given in the form of gifts to needy people who find themselves in some form of financial difficulty.

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

ACHIEVEMENT AND PERFORMANCE

During the year under review, ASANTEMAN UK successfully delivered activity against its charitable purpose by adapting delivery models and refocusing our programmes to support beneficiaries in the UK and overseas, most especially in Ghana.

REFURBISHMENT TO MANHYIA MATERNITY WARD

ASANTEMAN UK, as part of its charitable activities for the year, organized a Dinner Dance and Fundraising event in support of Otumfuo’s drive to refurbish the Maternity Ward of the Manhyia Hospital in Ghana.

SUPPORT OF NEEDY CHILDREN IN AFRICA

Children with special needs and medical conditions are sometimes overwhelmed by hospital bills. ASANTEMAN UK, as part of its charitable activities for the year under review, also supported several needy children in Africa by helping pay off their hospital bills and presented food items and clothing for their upkeep. A mother with twins who were born with genital deformity was introduced to our charity. We helped financially and medically. The twins now receive the initial medical treatment they need to live fulfilling lives.

COMMUNITY HEALTH SCREENING AND COVID-19 RELIEF SUPPORT

During the unprecedented COVID-19 pandemic, ASANTEMAN UK successfully delivered COVID-19 relief items to those in need. Due to lockdown restrictions, most of our programmes, particularly our health awareness campaigns targeted at minority ethnic communities, were delivered virtually through our social media platforms. ASANTEMAN UK also sought opportunities to increase impact and support COVID-19 relief work in disadvantaged communities.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charity Commission requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity at the yearend and of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to:

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

➢ Prepare trustee's annual reports and submit annual returns forms and accounts
➢ Comply with the rules of the charity as set out in the governing document
➢ Ensure the charity is run carefully by making sure it:
➢ Uses its charitable funds and assets wisely to further it charitable aims
➢ Does not do anything to put its property, funds, assets or reputation at risk
➢ Takes appropriate care and advice when investing or borrowing money.

INDEPENDENT EXAMINER

Jacob Manu & Co have expressed their willingness to continue in service, and a resolution on this will be put to the Board of Trustees at the forthcoming Annual General Meeting.

STATEMENT OF DISCLOSURES

a) So far as the Trustees are aware, there is no relevant information of which the Foundation’s Independent Examiners are unaware, and

b) They have taken all the steps that they ought to have taken as Trustees to make themselves aware of any relevant information and to establish that the Foundation's Independent Examiners are aware of that information.

By order of the Board of Trustees

............................................... Trustee

Date: 19/09/2024

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31/12/2023

We have examined the financial statements on pages 13 to 16 for the year ended 31/12/2023, comprising the statement of financial activities. The financial statement has been prepared under the historical cost convention and the accounting policies.

The report is made solely to the Charity's Trustees as a body, in accordance with Section 44 of the Charities Act 1993. The charity's trustees are generally of the opinion that an audit is not required in accordance with Section 43(2) of the 1993 Act and have opted for an independent examination instead.

Respective responsibilities of trustees and independent examiners

The Trustees are responsible for preparing the Trustees' Report and the Financial Statements by applicable law and United Kingdom Accounting Standards. These are set out in the Statement of Trustees' Responsibilities in the Trustees Report.

Our responsibilities as independent examiners of the charity are:

to examine the books and accounts of the charity in compliance with Section 43 of the 1993 Act;
to strictly adhere to the general directions provided by the Charity Commission under Section 43(7)(b) of the Charities Act 1993; and
to state whether particular matters have come to our attention during our examination.

We report to you whether the United Kingdom has properly prepared the financial statements Generally Accepted Accounting Practice, the Companies Act 2006, and the Charities Act 1993.

We also report whether the information in the Trustees' Report is consistent with the financial statements. We consider the implications of our report if we become aware of any apparent misstatements or material inconsistencies with the financial statement

In addition, we report to you if the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our work, or if information

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

specified by law regarding trustees' remuneration and other transactions with the charity is not disclosed.

Basis of opinion

Our examination was carried out by the General Directions provided by the Charity Commission. It includes reviewing the books, documents, and other accounting records kept by the charity and comparing these with the accounts presented.

Our examination also includes consideration of any unusual disclosures or items in the accounts, and seeking explanations from the Trustees. It is imperative to state here that the procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view'. Our report is therefore limited to the statements below:

Independent examiners' statement

In connection with our examination, we report that no matter has come to our attention, which gives cause to believe that the following have not been met:

Keeping proper accounting records in accordance with Section 386 and 387 of the Companies Act 2006.
Preparing accounts which accord with the underlying accounting records and which are in compliance with the Companies Act 2006, the United Kingdom Generally Accepted Accounting Practice (UK GAAP), the Statements of Recommended Practice (SORP) - Accounting and Reporting by Charities and the Charities Act 1993.
Consistency of the information contained in the Trustees Report with the financial statements.

..................................................... Date: .........19...... Day of...September...........2024

Jacob Manu & Co Chartered Certified Accountants Boardman House, 64 Broadway Stratford, London, E15 1NT

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

STATEMENT OF FINANCIAL ACTIVITYFOR THE PERIOD ENDED 31/12/2023

*Unrestricted* *funds* *Restricted* *income* *funds* *Total this* *year* *2023* £ £ £	*Unrestricted* *funds* *Restricted* *income* *funds* *Total this* *year* *2023* £ £ £	*Unrestricted* *funds* *Restricted* *income* *funds* *Total this* *year* *2023* £ £ £
16,600	-	16,600
-	-	-
18,492	-	18,492
-	-	-
-	-	-
*35,092*	-	*35,092*


23,216	-	23,216
-	-	-
	-
-	-	-
23,216	-	23,216
11,876	-	11,876
-	-	-
*11,876*	-	*11,876*

Other recognised gains/(losses)

*Net movement in funds* *Total funds brought forward* 01/01/22 *Total funds carried forward* 31/12/2023	11,876	-	11,876

	*11,876*		*11,876*

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

Total this year 2023

Fixed assets

Tangible assets 6 - Investments - Total fixed assets Current assets - Stock and work in progress Debtors - (Short term) investments Cash at bank and in hand 19,206 Total current assets 19,206 Creditors: amounts falling due within one amounts falling due within one year (9,405)

Creditors: amounts falling due within one amounts falling due within one year (9,405) Net current assets/(liabilities) Total assets less current liabilities 9,801

Creditors: amounts falling due after one year Provisions for liabilities and charges

- -

Funds of the Charity Unrestricted funds Designated funds Total unrestricted funds Restricted income funds

Net assets

Total funds

9,801 7 9,801 - 9,801

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31/12/2023 Registered Charity Number 1202975

1 ACCOUNTING POLICIES

The principal accounting policies which have been adopted are set out below: -

2 BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention and by applicable accounting standards, and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP 2005) was issued in January 2005.

3 INCOMING RESOURCES

Voluntary income includes grants that provide core funding or are of a general nature and is recognised in full in the Statement of Financial Activities in the year in which they are receivable, except when the donors specify that the grant given must be used in a future accounting period. In that case, the income is deferred until those periods.

Incoming resources from charitable activities include income received under contract or where entitlement to grant funding is subject to specific conditions to deliver and is recognised, whereas the service is provided.

Other income is accounted for on a cash basis.

4 RESOURCES EXPENDED

Expenditure is recognised when the liability is incurred.

Cost of generating funds is those incurred in attracting voluntary income
Charitable activities include expenditures associated with the delivery of services and include both direct costs and support costs relating to each particular service
Governance costs include the costs of the charity, including strategic planning for its future development, independent examination, any legal advice and all costs of complying with the constitutional and statutory requirements, such as costs of Trustees and the preparation of statutory accounts.
Support costs include overhead and other costs not directly attributable to a particular function and apportioned over the relevant activity on the basis of management estimates consistence with use of the resources e.g., staff cost by time spent, property costs by floor space and other costs by their usage.

December 31, 2023

ASANTEMAN UK Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31/12/2023 Registered Charity Number 1202975

5 TAXATION

The organization is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

6 TANGIBLE NON-CURRENT ASSETS

The organisation’s non-current assets include musical instruments, and they are depreciated on straight-line basis

7 FUND ACCOUNTING

Unrestricted funds are grants, donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds can only be used for specific purposes as laid down by the donor. Expenditure that meets this criterion is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purposes or related to grants explicitly given for purchasing assets where the use is not restricted. The aim and use of each of the designated funds is set out in the notes to the financial statements.