Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
LAFIYA NIGERIA LTD (Charity no. 1206952) (Company no. 13750546) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
Lafiya Nigeria Ltd (Charity no. 1206952) (Company no. 13750546)
Contents
| Page | |
|---|---|
| Trustees’ Annual Report | 3-8 |
| Independent Examiner’s Report | 9 |
| Consolidated Statement of Financial Activities | 10 |
| Consolidated and Charity Balance Sheets | 11 |
| Consolidated Statement of Cash Flows | 12 |
| Notes to the Accounts | 13-20 |
Lafiya Nigeria Ltd (1206952)
Contents
Page 2
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Lafiya Nigeria Ltd (Charity no. 1206952) (Company no. 13750546)
Trustees’ Annual Report for the year ended 31 December 2024 (Group)
Lafiya Nigeria Ltd Board of Trustees presents its trustees’ report together with the independently examined consolidated financial statements for the year ended 31 December 2024 under the Charities Act 2011. This also meets the requirements for a directors’ report and financial statements for the purposes of the Companies Act 2006.
Charity name: Lafiya Nigeria Ltd
Charity number: 1206952 (England & Wales)
Company number: 13750546
Company status: Charitable company limited by guarantee (the “charity”)
Registered office:
Suite A 82 James Carter Road Mildenhall England IP28 7DE
Trustees:
Khalil Mair, Chair Appointed 07/12/2022 Matthew MacGeoch Appointed 07/12/2022 Yi Fei Chen Appointed 07/12/2022 Resigned 29/07/2024 Olivia Iloetonma Appointed 25/06/2024 Osamwonyi Edwin Esosa Appointed 25/06/2024 Adrienne Policht Appointed 25/06/2024
Chief Executive Officer:
Klau Chmielowska
Independent examiner:
Moore Kingston Smith
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
Page 3
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Structure, governance and management
The charity is governed by its Articles of Association. The Board sets the strategic direction, approves budgets and plans, and oversees risk, compliance and safeguarding. Management implements the strategy and delivers programmes within an agreed framework of policies and controls. Lafiya operates within a group structure which includes activities in the UK and the Netherlands through Stichting Lafiya Nederland, and programme delivery in Nigeria. The trustees have continued to strengthen governance during the year by reviewing the risk register, reserves policy and safeguarding arrangements, and by maintaining clear lines of accountability across the group.
Objectives and activities, (public benefit)
Lafiya’s charitable objectives are to preserve and protect health in Nigeria - particularly by preventing maternal mortality and unintended pregnancies, through the provision and facilitation of family planning and other medical services. Further objectives are also to advance education in sexual and reproductive health and family planning, through advice, information, education, training, counselling and advocacy.
In setting strategy, approving plans and reviewing outcomes, the trustees confirm they have given due regard to the Charity Commission’s guidance on public benefit. All activities undertaken in 2024 were aligned with these purposes and were directed at improving access to modern contraception and high-quality information for women and girls across target states.
Activities, achievements and performance in 2024
In 2024, the charity delivered a year of transformative growth, marked by strengthened systems, strategic partnerships, and measurable improvements in access to reproductive health services across northern Nigeria.
The organisation focused on expanding the Lafiya Sisters network, a community-based model that empowers trained women to provide counselling, referral, and contraceptive services within their communities. The network grew from 60 Lafiya Sisters at the start of the year to 260 by December, now operating across Sokoto, Kebbi, Jigawa, and Kano States. Recruitment, training, and supervision mechanisms were formalised to improve quality assurance and consistency of service delivery.
Lafiya established the foundation for direct importation, warehousing, and distribution of DMPA-SC in Nigeria. This step represents a significant milestone toward achieving a reliable supply chain and reducing exposure to market delays.
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
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Activities, achievements and performance in 2024 (continued)
To support system strengthening, Lafiya invested in upgrading its data systems and monitoring tools, enhancing visibility, reporting, and performance management across its programmes. The organisation also deepened state-level partnerships.
The charity’s commitment to learning and accountability was reinforced through the Sokoto Difference-in-Difference study, a rigorous independent evaluation designed to generate evidence of impact. Findings showed that contraceptive uptake rose from 2% to 56% within eight months, with a 34 percentage-point increase directly attributable to Lafiya’s intervention.
Through these combined efforts, Lafiya reached approximately 85,000 women and delivered over 100,000 doses of Sayana Press in 2024 — a tenfold increase from the previous year. Programme innovations, including the transition to four doses per user and the introduction of SMS reminders to improve continuation, further enhanced effectiveness and user experience.
Lafiya also contributed to national policy development on Sayana Press self-injection, informing federal guidelines and supporting state-level implementation. By embedding its model within government systems through joint monitoring, training, and supervision, the organisation has strengthened institutional capacity and built the groundwork for sustainable, government-led scale-up in 2025 and beyond.
Financial review (Group)
Total group income for the year amounted to £730,911 (2023: £66,158), derived primarily from philanthropic grants, institutional funding and restricted project income. Group expenditure totalled £264,016, with all funds spent on charitable activities, including programme delivery, community worker training, commodity logistics and MEL.
At the year end, restricted funds stood at £144,299, reflecting donor-directed programme resources, while unrestricted funds, including any designated reserves, totalled £322,595. The trustees consider the goingconcern basis of preparation to be appropriate.
Reserves policy
The charity seeks to hold free reserves at a level sufficient to manage timing differences in income, absorb reasonable downside risk and support an orderly wind-down of operations, if circumstances require. The target range is equivalent to 3 months (£32,981) of operating expenses in line with Charity Commission guidance.
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
Page 5
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Principal risks and uncertainties
The trustees recognise that Lafiya operates in a complex and evolving environment, particularly given its crossborder activities and delivery context in northern Nigeria. During 2024, the Board maintained active oversight of organisational risk through regular reviews and strengthened internal controls to ensure continued compliance, resilience, and impact.
Supply chain and importation risk remained a key consideration. This was mitigated through the establishment of comprehensive documentation, compliance, and logistics protocols to support full implementation in 2025.
Funding continuity risk was addressed by broadening Lafiya’s donor base and securing new multi-year funding commitments to ensure programme stability and reduce dependence on single-source contributions.
Operational and security risks associated with fieldwork in northern Nigeria were carefully managed through close coordination with government authorities, robust safety protocols, and flexible delivery planning that allowed for adaptation to local conditions and emerging challenges.
Data quality and monitoring risks were mitigated through the deployment of digital data tools, routine verification audits, and the training of Data Verification Officers to strengthen evidence reliability and ensure accurate reporting.
Finally, foreign exchange and inflation risks were managed through rigorous treasury oversight, multi-currency budgeting, and scenario planning, enabling Lafiya to maintain financial control and protect programme resources against external economic volatility.
Collectively, these measures reflect the trustees’ ongoing commitment to proactive risk management, ensuring that Lafiya remains compliant, accountable, and equipped to deliver sustainable impact in a challenging operating environment.
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
Page 6
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Group structure and consolidation
The trustees consider that Lafiya Nigeria Ltd exercises substantive control over Stichting Lafiya Nederland in furtherance of the same charitable purposes. Group financial statements are therefore prepared on a line-by-line consolidation basis, with elimination of intra-group transactions and balances.
Policies are applied uniformly across the group and reporting dates are aligned, (31 December). The results and net assets of the Dutch entity are translated into sterling, (in accordance with the applicable reporting framework) with translation differences recognised within funds; the related accounting policies and fund reconciliations are set out in the notes to the financial statements.
Fundraising statement
The charity conducts its fundraising in line with standards approved by the Board. No professional fundraisers or commercial participators were engaged during the year. The charity received no fundraising complaints during 2024.
Safeguarding statement
The trustees remain committed to the highest safeguarding standards. Policies, training and reporting mechanisms are in place and were reviewed and strengthened during the year. The trustees confirm that no reportable incidents were identified during the year.
Plans for future periods
In 2025 the charity intends to commence the direct procurement partnership with Pfizer Belgium, to secure a reliable supply of Sayana Press, distribute approximately 400,000 doses by year-end, and double the number of trained Lafiya Sisters - to expand capacity and geographic reach.
The charity will also deepen co-financing models with state governments to support sustainable domestic financing of commodities, strengthen local distribution and monitoring capacity; including collaboration with state Logistics Management Coordination Units, and will finalise memoranda of understanding across target states to bolster local ownership. Investment in monitoring, evaluation and learning will continue so that impact and cost-effectiveness remain transparent and independently verifiable.
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
Page 7
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Statement of trustees’ responsibilities
The trustees (who are also directors of charity for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
-
comply with applicable accounting standards, including FRS 102, subject to any material departures disclosed and explained in the financial statements; state whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any material departures which are explained in the financial statements;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on a 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 that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approvals
Approved by the Board of Trustees on ______ 2025 and signed on its behalf by: 31 October
Khalil Mair
Chair of Trustees
Adrienne Policht Trustee
Lafiya Nigeria Ltd (1206952)
Trustees’ Annual Report
Page 8
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Lafiya Nigeria Ltd Independent Examiners Report For the year ended 31 December 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.
Independent Examiner's Statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Fullerton (FCA, DChA) For and behalf of Moore Kingston Smith LLP Chartered Accountants
6th Floor 9 Appold Street London EC2A 2AP
Date: 31 October 2025
Lafiya Nigeria Ltd (1206952)
Independent Examiners Report
Page 9
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Lafiya Nigeria Ltd (Charity no. 1206952) (Company no. 13750546) Consolidated Statement of Financial Activities (SoFA) For the year ended 31 December 2024
| Notes | Unrestricted Funds (£) |
Restricted Funds (£) |
Consolidated Total Funds 2024 (£) |
Charity Total Funds 2023 (£) |
|
|---|---|---|---|---|---|
| Income from: | |||||
| Charitable activities | 8 | 586,612 | 144,299 | 730,911 | 66,158 |
| Total income | 586,612 | 144,299 | 730,911 | 66,158 | |
| Expenditure on: | |||||
| Charitable activities | 9 | 264,016 | - | 264,016 | 66,158 |
| Total expenditure | 264,016 | 0 | 264,016 | 66,158 | |
| Net income/(expenditure) | 322,596 | 144,299 | 466,895 | - | |
| Transfers between funds | - | - | - | - | |
| Net movement in funds | 322,596 | 144,299 | 466,895 | - | |
| Reconciliation of funds: | |||||
| Total funds brought forward | - | - | - | ||
| Total funds carried forward | 322,596 | 144,299 | 466,895 | - |
All income and expenditure derives from continuing activities. The notes on pages 13 to 20 form part of these financial statements.
Lafiya Nigeria Ltd (1206952)
Consolidated Statement of Financial Activities
Page 10
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Lafiya Nigeria Ltd (Group) (Charity no. 1206952) (Company no. 13750546) Consolidated and Charity Balance Sheets For the year ended 31 December 2024
| Notes | Group 2024 (£) | Charity 2024 (£) | Charity 2023 (£) | |
|---|---|---|---|---|
| Current assets | ||||
| Debtors | 11 | 3,738 | 817 | 188 |
| Inventory | 14,299 | 14,299 | - | |
| Cash at bank and in hand | 643,940 | 514,749 | 21,386 | |
| Total current assets | 661,977 | 529,865 | 21,574 | |
| Creditors: amounts falling due | 16 | 195,083 | 189,480 | 21,574 |
| within one year | ||||
| Net current assets | 466,894 | 340,385 | - | |
| Net assets | 466,894 | 340,385 | - | |
| Funds | ||||
| General funds | 23 | 322,595 | 295,857 | |
| Designated funds | 23 | - | - | - |
| Restricted funds | 22 | 144,299 | 44,528 | - |
| Total funds | 466,894 | 340,385 | 0 |
For the financial year ended 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act in respect to accounting records and the preparation of the financial statements.
The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476.
As permitted by S408 of the Companies Act 2006, the parent charity has not presented its own statement of financial activities and related notes. The parent charity surplus for the year was £340,385, (2023:£nil)
The financial statements were approved by the Trustees and authorised for issue on _______2025 31 October and signed on their behalf by:
Khalil Mair Chair of Trustees
Lafiya Nigeria Ltd (1206952)
Consolidated and Charity Balance Sheets
Page 11
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Lafiya Nigeria Ltd Consolidated Statement of Cash Flows (Indirect Method) For the year ended 31 December 2024
| Notes | Group 2024 (£) | |
|---|---|---|
| Cash flows from operating activities | ||
| Net income/(expenditure) for the year | 466,894 | |
| Adjustments for non-cash items: | ||
| (Increase)/decrease in inventory | (14,299) | |
| (Increase)/decrease in debtors | 11 | (3,550) |
| Increase/(decrease) in creditors | 16 | 173,509 |
| Net cash provided by operating activities | 155,660 | |
| Net increase/(decrease) in cash and cash equivalents | 622,554 | |
| Cash and cash equivalents at beginning of year | 21,386 | |
| Cash and cash equivalents at end of year | 643,940 |
Lafiya Nigeria Ltd (1206952)
Consolidated and Charity Balance Sheets
Page 12
Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
1. General information
Lafiya Nigeria Ltd (“the charity”) is a charitable company limited by guarantee registered in England and Wales (charity number 1206952). The registered office is Suite A, 82 James Carter Road, Mildenhall, England, IP28 7DE. The consolidated financial statements comprise the charity and its controlled charitable entity Stichting Lafiya Nederland (together “the group”). The group’s principal activities are described in the Trustees’ Annual Report.
2. Basis of preparation
These financial statements have been prepared in accordance with: the Companies Act 2006, the Charities Act 2011, the Charity SORP (FRS 102) effective for reporting periods beginning on or after 1 January 2019, and FRS 102 as issued by the FRC. The financial statements are prepared under the historical cost convention unless stated otherwise and are presented in pounds sterling (£), the group’s presentation currency. Figures are rounded to the nearest £1 unless shown otherwise.
3. Going concern
The trustees have assessed going concern for a period of at least 12 months from the date of approval. This assessment considered approved 2025 and 2026 budgets, committed and highly-probable income, working capital requirements and principal risks. Based on this review, the trustees consider it appropriate to adopt the going concern basis.
4. Basis of consolidation
The consolidated financial statements incorporate the results, assets and liabilities of the charity and Stichting Lafiya Nederland on a line-by-line basis. Intra-group transactions and balances are eliminated on consolidation. Uniform accounting policies are applied across the group and the reporting dates are co-terminous (31 December 2024). Control exists in substance through the UK charity’s ability to direct the financial and operating policies of Stichting Lafiya Nederland in furtherance of the group’s charitable purposes.
5. Foreign currency
The functional currency of Stichting Lafiya Nederland is Euro (EUR). On consolidation, assets and liabilities are translated at the closing rate at 31 December 2024 and income and expenditure at average rates for the year. Resulting translation differences are recognised in other recognised gains/(losses) and accumulated in a translation reserve within funds.
Closing EUR/GBP rate: 0.829 Average EUR/GBP rate: 0.847
6. Significant accounting policies
Income
- Donations and grants are recognised when entitlement is established, probable and measurable. Where grants are performance-related, income is recognised as performance conditions are met. Where grants are reimbursed on eligible expenditure, income is matched to the related costs. Charitable activities income is recognised as services are delivered. Other income is recognised on an accruals basis.
Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 13
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Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
6. Significant accounting policies (continued)
Expenditure
-
Expenditure is recognised on an accruals basis when there is a legal or constructive obligation.
-
Charitable activities include directly attributable staff, programme and MEL costs.
-
Raising funds includes the costs of seeking donations and grants.
-
Support costs are allocated to activities on a reasonable and consistent basis, typically by headcount/time, direct cost driver or usage.
Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Assets are capitalised when the cost exceeds the charity’s capitalisation threshold and the asset has an expected useful economic life of more than one year. No tangible fixed assets were held during the year (2023: £nil). Accordingly, no depreciation charge arose in the year.
Investments
The group holds no listed or unlisted investments.
Impairment
Assets are reviewed for impairment where events indicate carrying values may not be recoverable.
Leases
The group has no leases as lessee or lessor (2023: none). No lease payments were made in the year and no lease commitments existed at the reporting date. Operating lease rentals are charged to expenditure on a straightline basis over the lease term.
Financial instruments
- Basic financial instruments are measured at amortised cost; no complex instruments are held. Foreigncurrency monetary items are retranslated at the year-end rate with gains/losses to SoFA.
Employee benefits
Short-term benefits are expensed as incurred.
Fund accounting
- Unrestricted funds are general funds available for use at the trustees’ discretion. Designated funds are unrestricted funds earmarked for specific purposes. Restricted funds are subject to externally imposed restrictions that determine how funds may be used. The funds of Stichting Lafiya Nederland are presented within unrestricted funds.
VAT
The charity is not VAT registered and expenditure is reported gross of irrecoverable VAT.
Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 14
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Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
7. Critical accounting judgements and key sources of estimation uncertainty
Key judgements include:
(i) assessment of control over Stichting Lafiya Nederland;
(ii) classification of income and funding between restricted and unrestricted; and
(iii) the allocation bases used for support costs.
Key estimates include:
(i) application of average FX rates in consolidation where they approximate transaction-date rates.
8. Income from charitable activities
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Group 2024 (£) Charity 2024 (£)
Grants 306,312 306,312
Donations 424,599 242,492
Total 730,911 548,804
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9. Total expenditure
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Support Group Total Charity Total
Direct costs (£) Staff costs (£) Other costs (£)
costs (£) 2024 (£) 2023 (£)
Charitable activities 146,072 90,588 23,736 3,620 264,016 66,158
Total 146,072 90,588 23,736 3,620 264,016 66,158
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Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 15
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Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
10. Support and governance costs
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Group 2024 (£) Charity 2024 (£)
Travel 17,610 17,610
Technology 3,875 3,875
Professional fees 4,937 4,523
Bank revaluations (2,685) (3,949)
Total 23,736 22,059
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11. Debtors
----- Start of picture text -----
Group 2024 (£) Charity 2024 (£)
Other debtors and prepayments 3,738 817
Total 3,738 817
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12. Staff costs and key management remuneration
Total staff costs comprised: wages and salaries £66,383 (charity 2023: £26,399), PAYE £3,608, NIC £1,518 social security and pension costs £6,558 and other staff costs £8,847. The average number of employees during the year (FTE) was 2 for the group and 1 for the charity. Key management personnel remuneration (gross pay, employer NIC and pension) totalled £48,018.
The were no employees with emoluments over £60,000. No termination payments were made.
13. Trustees’ remuneration and expenses
During the financial year, certain directors and staff were reimbursed for expenses personally incurred in carrying out organisational duties, including travel, stakeholder engagement, and project-related activities. The total reimbursements made during the year amounted to £699 (2023: nil). These reimbursements covered trustee expenses such as travel, accommodation, and meeting-related costs incurred in the delivery of charitable activities.
Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 16
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Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
14. Taxation
The charity and its controlled charitable entity are recognised as charitable and are generally exempt from UK corporation tax on income and gains applied for charitable purposes.
15. Inventories
Inventories comprise contraceptive and non-contraceptive commodities held for use in programme activities. The balance includes items procured during the year for programme implementation and related distribution activities.
Management continues to strengthen systems for tracking and reconciling inventory movements to ensure that stock balances accurately reflect the quantities held at year end. Any variances identified will be reviewed and adjusted in the subsequent financial period as appropriate. No provision for obsolescence was considered necessary as at 31 December 2024.
16. Creditors: amounts falling due within one year
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Group 2024 (£) Charity 2024 (£)
-
Staff payables 5,603
Accruals 4,200 4,200
Deferred income 185,200 185,200
Total 195,003 189,400
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17. Deferred income
Deferred income represents grant and donation funds received in advance from funders - BMGF (£340k), Nadacni Fond Kladne Nuly (£80K) - which relate to activities and expenditures to be carried out in future reporting periods. These amounts are recognised as liabilities at year-end and will be released to income in the Statement of Financial Activities as the related costs are incurred and performance conditions are met.
18. Provisions
There were no provisions at 31 December 2024 (2023: £nil). No obligations existed that met the recognition criteria under FRS 102, including no onerous contracts or restructuring provisions.
19. Financial instruments
The group’s financial instruments comprise cash and cash equivalents, trade and other receivables, and trade and other payables. These are basic financial instruments measured at amortised cost, and their carrying amounts approximate fair value. The group does not hold any complex financial instruments or derivatives.
Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 17
Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
20. Subsidiary/controlled charitable entity
Name: Stichting Lafiya Nederland.
Country of registration: Netherlands (Stichting).
Principal activity: Fundraising and programme enablement in support of the group’s charitable purposes. Reporting date: 31 December.
Nature of control: Governance arrangements and funding control. Results consolidated line-by-line
The aggregate amount of assets, liabilities and funds at the end of the reporting period; and a summary of gross income and expenditure, are set out in Note 31 .
21. Related party transactions
The charity has no related party transactions to declare.
22. Restricted funds (group)
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Funds 1 Jan 2024 (£) Income (£) Expenditure (£) 31 Dec 2024 (£)
- -
Embassy of Switzerland 44,528 44,528
- -
Stichting Lafiya Nederland (NL) 99,771 99,771
Total restricted 144,299 - 144,299
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23. Unrestricted funds (group)
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Funds 1 Jan 2024 (£) Income (£) Expenditure (£) 31 Dec 2024 (£)
General funds - 586,612 264,016 322,595
- - - -
Designated funds
Total unrestricted - 586,612 264,016 322,595
Designated funds represent unrestricted resources set aside by the trustees to support the operations of
Stichting Lafiya Nederland, the group’s controlled charitable entity registered in the Netherlands. These funds
are used to finance programme enablement and fundraising activities in furtherance of the group’s charitable
objectives, including grant acquisition, donor engagement and coordination of international partnerships.
24. Analysis of net assets between funds
Unrestricted (£) Restricted (£) Total (£)
Current assets 311,751 350,227 661,977
Current liabilities (89,843) (105,240) (195,083)
Total 221,908 244,987 466,894
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Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 18
Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
25. Parent charity balance sheet and reserves reconciliation
At 31 December 2024, the parent charity’s unrestricted funds were £54,664 and restricted funds £18,218. A reconciliation of group to charity net assets is as follows:
----- Start of picture text -----
31 Dec 2024 (£)
Net assets of the group 466,894
Less: net assets of Stichting Lafiya Nederland 126,509
Net assets of the parent charity 340,385
26. Reconciliation of net income to net cash flow from operating activities (Group)
31 Dec 2024 (£)
Net income/(expenditure) for the year 466,894
Adjustments for:
(Increase)/decrease in debtors (3,738)
Increase/(decrease) in creditors 173,509
Increase/(decrease) in inventory (14,299)
Net cash provided by operating activities 155,660
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27. Reconciliation of net cash/(debt) (Group)
| At 1 Jan 2024 (£) | Cash flows (£) At 31 Dec 2024 (£) |
|
|---|---|---|
| Cash and cash equivalents | 21,386 | 622,554 643,940 |
Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
Page 19
Docusign Envelope ID: E5701CD1-A77A-44D2-B12C-B4EC83E94BC5
Notes to the Consolidated Financial Statements
For the year ended 31 December 2024
28. Post balance sheet events
There were no events after the reporting date requiring adjustment or disclosure.
29. Members’ liability
The charity has no share capital and is limited by guarantee. In the event of winding up, each member undertakes to contribute £1.
30. Comparative information
These are the charity’s first consolidated financial statements following registration as a charity on 9 February 2024. The charity is the same legal entity as in the prior year (identical Companies House number). Accordingly, the comparative information for the year ended 31 December 2023 has been extracted from the company’s statutory financial statements and re-presented to conform to the Charities SORP (FRS 102) format. Where necessary, amounts have been reclassified for presentation only; these reclassifications did not change the total result for the year or net assets at 31 December 2023. Consolidation commences in 2024 when the charity obtained substantive control over Stichting Lafiya Nederland. The 2023 comparatives therefore relate to the parent charity only and are not consolidated.
31. Stichting Lafiya Nederland
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Financial Position of Stichting Lafiya Nederland 31 Dec 2024 (£)
Assets
Current assets 132,112
Current liabilities: creditors falling due within one year (5,603)
Net Assets 126,509
Funds
General funds 26,738
Restricted funds 99,771
Surplus for the year (total funds carried forward) 126,509
Summary of financial activity for Stichting Lafiya Nederland 31 Dec 2024 (£)
Gross income 182,107
Expenditure (55,598)
Surplus for the year (total funds carried forward) 126,509
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Lafiya Nigeria Ltd (1206952)
Notes to the Accounts
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