Nesslan Project Income and Expenditure For Period 31st January 2024 - 31st March 2025
| 2024-25 Incoming Resources Loan 6500.00 Dinner and Dance Fundraising Event 2520.00 Donations 2303.30 Total Income Resources Resources Expended Direct Expenses Vincent Hope Preparatory Primary School 3000.00 Dinner and Dance Fundraising Event 1,597.63 Hall Rental 355.00 Total Direct Expenses Admin & Management Expenses Stationery, Printing & Posting 68.12 Website Hosting, set-up & Management 300.00 Total Admin & Management Expenses Total Expenses Excess Income / Expenses Opening Balance Closing Fund Balance Balance Sheet as at 31st March 2025 Fixed Assets Net Book Value Current Assets Bank - Current Account 6,002.55 Current Liabilities 0.00 Net Current Assets Long Term Liability Loan Represented by: General Fund Balance |
2024-25 11,323.30 4952.63 368.12 5,320.75 6,002.55 0.00 6,002.55 0.00 6,002.55 6500.00 -497.45 |
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Statement of director's Responsibilities
In approving these financial statements as directors of the company, we hereby confirm that: (a) The Company is entitled to exemption from audit under section 477 of the companies Act 2006 for the year ending 31st March 2025
(b) No notice has been deposited under section 476 requesting that an audit be conducted for the stated period.
The Directors acknowledge their responsibility for,
(2 ) Preparing accounts which gives a true and fair view of the state of affairs of the company as at These accounts have been prepared in accordance with the provisions applicable to small companies
Trustees’ Annual Report (TAR)
For the Financial Year 2024/25
Reference and Administrative Details
Charity Name: Nesslan Project Charity Status: Registered Charity (registered in 2024) Charity Registration Number : 1206807 Year of Formation: 2022 Governing Document: Constitution
Trustees: The charity is governed by a Board of Trustees who served during the year under review.
Structure, Governance and Management
Nesslan Project was founded in 2022 and became a registered charity in 2024. The charity is governed by a Board of Trustees, which is responsible for setting strategy, ensuring compliance with charity law, safeguarding assets, and overseeing the delivery of charitable activities.
The Board meets regularly to:
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Plan and oversee fundraising activities;
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Agree programmes and activities aligned to the charity’s objectives;
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Monitor performance, outcomes, and financial controls.
Trustees act collectively and in the best interests of the charity, in line with their legal duties under the Charities Act.
Objectives and Activities
The Nesslan Project exists to support educational and community development initiatives, with a particular focus on improving access to education and creating opportunities for children and young people.
During the reporting period, the Trustees focused on:
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Providing direct financial support to educational institutions, notably Vincent Hope Preparatory Primary School.
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Mobilising resources through fundraising activities, including a Dinner and Dance event.
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Strengthening the project’s administrative capacity through basic infrastructure such as website hosting and communication materials.
Public Benefit
In setting objectives and planning activities, the Trustees have had due regard to the Charity Commission’s guidance on public benefit. The charity’s activities during the year provided direct educational and welfare benefits to children and communities in the Western Area of Sierra Leone.
Achievements and Performance
The Neslan Project exists to support educational and community development initiatives, with a particular focus on improving access to education and creating opportunities for children and young people.
During the reporting period, the Trustees focused on:
Providing direct financial support to educational institutions, supporting Vincent Hope Preparatory Primary School in the Western Area of Sierra Leone.
Mobilising resources through fundraising activities, including a Dinner and Dance event. Strengthening the project’s administrative capacity through basic infrastructure such as website hosting and communication materials.
During the financial year under review, the charity provided £3,000 direct financial and
material support to the school, including contributions towards:
School building construction;
Furniture (desks and chairs);
Teaching and learning resources, including reading and writing materials;
The installation of a water well to provide safe drinking water and improve sanitation.
The Trustees are encouraged by the project’s ability to mobilise community support and deliver tangible impact during its first year of activity.
These activities have contributed to improved learning conditions, access to clean water, and overall wellbeing for pupils and staff at the school.
Fundraising Activities
During the year, the charity organised a Dinner and Dance fundraising event to raise funds
towards the construction of a school building for Vincent Hope Preparatory Primary School. The event generated a net surplus of £922, alongside additional donations totalling £2,303.
The Trustees confirm that fundraising activities were carried out ethically and in line with applicable guidance.
Financial Review
Income
Total incoming resources for the period amounted to £11,323.30 , comprising:
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A loan of £6,500 , provided to support start-up and operational cash flow.
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Fundraising income of £2,520 from the Dinner and Dance event.
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Donations totalling £2,303.30 from individuals and supporters.
The Trustees recognise that a portion of income was loan funding and therefore not available as unrestricted charitable income.
Expenditure
Total expenditure for the period was £5,320.75 , analysed as follows:
Direct charitable expenditure: £4,952.63
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Support to Vincent Hope Preparatory Primary School: £3,000.00
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Dinner and Dance fundraising costs: £1,597.63
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Hall rental: £355.00
Administration and management costs: £368.12
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Stationery, printing, and postage: £68.12
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Website hosting, set-up, and management: £300.00
The Trustees consider that the level of administrative expenditure is proportionate and necessary to support effective delivery of charitable activities.
After accounting for the long-term loan liability of £6,500 , the General Fund position at year end shows a deficit of £497.45 . The Trustees are aware of this position and are actively considering strategies to address it through future fundraising and income generation.
Balance Sheet Position
As at 31 March 2025:
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The project held no fixed assets.
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Current assets comprised cash at bank of £6,002.55
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There were no current liabilities.
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A long-term loan of £6,500 remained outstanding.
Net current assets amounted to £6,002.55 , with total funds after liabilities resulting in a negative General Fund balance of £497.45 .
Reserves Policy
The Trustees define reserves as unrestricted funds available for general use. Given the early stage of the project and the existence of a long-term loan, the Trustees have not yet established a formal target level of reserves.
It is the Trustees’ intention to build unrestricted reserves over time in order to:
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Meet ongoing operational commitments,
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Reduce reliance on loan funding, and
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Improve the financial resilience of the project.
The reserves position will be reviewed annually as part of the Trustees’ financial planning process.
Plans for Future Periods
In the next financial year, the charity plans to:
- Continue construction work at Vincent Hope Preparatory Primary School, including roofing, painting, installation of doors and windows, and the provision of additional desks and chairs.
In the medium term, the charity intends to extend support to other primary schools in the Western Area of Sierra Leone. In the longer term, the Trustees aim to expand activities to include secondary schools.
The Trustees plan to:
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Increase fundraising activity to strengthen unrestricted income,
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Gradually reduce reliance on loan funding,
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Continue supporting educational initiatives aligned with the project’s objectives,
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Build financial sustainability and a positive reserves position.
Risk Management
The Trustees have identified key risks facing the charity and have put in place appropriate systems of internal control. These include procedures for:
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Authorisation and monitoring of expenditure;
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Oversight of programmes and activities;
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Regular review of financial performance.
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Seek to diversify income streams through additional fundraising activities,
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Maintain tight control over costs and commitments.
The Trustees consider these measures proportionate to the size and activities of the charity.
Going Concern Statement
The Trustees have reviewed the project’s financial position, including forecast income and expenditure, and believe that the Neslan Project has adequate resources to continue operating for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis .
Appreciation
Donors
The charity relies heavily on donations and fundraising activities to deliver its work. The Trustees would like to express their sincere thanks to all donors for their generosity and continued support, which has made a meaningful difference to communities in the Western Area of Sierra Leone.
Volunteers
The Trustees are deeply grateful to the charity’s dedicated volunteers, who contribute their time, skills, and commitment in various capacities. Their support is vital to the achievement of the charity’s objectives.
Trustees’ Declaration and Approval
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
The Trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and regulations. The Trustees confirm that, to the best of their knowledge:
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The Trustees’ Annual Report is fair, balanced, and understandable;
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The report provides the information necessary for readers to assess the charity’s position, performance, activities, and future plans; and
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Proper accounting records have been kept and appropriate internal controls are in place.
This Trustees’ Annual Report was approved by the Board of Trustees and authorised for issue on behalf of the Board.