2021-03-31-accounts - The Busoga Trust

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			Page
Report ofthe	Trustees		1 to 6
Report ofthe	Independent	Auditors	7tog
Consolidated	Statement	ofFinancial Activities
Consolidated	and Charity	Balance Sheet
Consolidated	Cash Flow	Statement
Notes to the	Consolidated	Cash Flow Statement	13
Notes to the	Consolidated	Financial Statements	14to 24

								2021	2020
						Unrestricted	Restricted	Total funds	Total funds
						fund	funds
					Notes	Z
INCOME AND ENDOWMENTS				FROM
Donations and legacies						883,416		883,416	508,236
Charitable activities
Luwero project						749		749	336
Jinja project						10		10	229
Buikwe District Fisheries Community
Development Program	(BDFCDP)					43,452		43,452	42,939
Uganda Sanitation Health		Activity					102,473	102,473	41,558
Investment income						159		159	313
Other income						9,422		9,422	7,678
Total						937,208	102,473	1,039,681	601,834
EXPENDITURE ON
Raising funds						24,967		24,967	18,215
Charitable activities
Luwero project						235,352		235,352	123,976
Jinja project						221,584		221,584	211,795
Bugembe UN Habitat project						33,164		33,164	32,718
Operations and Maintenance			(Luuka)			103,478		103,478	103,092
Kaliro									1,016
Uganda Sanitation Health		Activity				33,780	108,802	142,582	61,738
Buyende						188,768		188,768
Total						841,093	108,802	949,895	552,550
NET INCOME/(EXPENDITURE)						96,115	(6,329)	89,786	49,284
RECONCILIATION OF	FUNDS
Total funds brought forward						108,674	22,959	131,633	82,349
TOTAL FUNDS CARRIED FORWARD						204,789	16,630	221,419	131,633

		Group			Charity
		2021	2020	2021	2020
	Notes	F	E	F
FIXEDASSETS
Tangible assets	14	40,722	14,693	19,656
Programme related investments	15	23,761	25,424
CURRENT ASSETS
Stocks		10,192	12,513
Debtors: amounts falling due within one year	17	11,863	30,601
Cash at bank		219,004	103,151	171,086	100,717
		241,059	146,265	171,086	100,717
CREDITORS
Amounts falling due within one year	18	(84,123)	(54,749)	(20,290)	(4,390)
NET CURRENT ASSETS		156,936	91,516	150,796	96,327
TOTAL ASSETSLESSCURRENT LIABILITIES		221,419	131,633	170,452	96,327
NET ASSETS		221,419	131,633	170,452	96,327
FUNDS 19
Unrestricted funds		204,789	108,674	170,452	96,327
Restricted funds		16,630	22,959
TOTAL FUNDS		221,419	131,633	170,452	96,327

							2021	2020
						Notes
Cash flows from operating			activities:
Cash generated	from	operations					154,856	64,382
Net cash provided by (used in) operating
activities							154,856	64,382
Cash flows from investing			activities:
Purchase oftangible		fixed assets					(39,162)	(4,721)
Interest received							159	313
Net cash provided by (used in) investing
activities							~39,003)	~4,408)
Change in cash	and	cash	equivalents	in the
reporting period							115,853	59,974
Cash and cash	equivalents		atthe beginning		of
the reporting period							103,151	43,177
Cash and cash	equivalents		at the end	ofthe
reporting period							219,004	103,151

	RECONCILIATION	OF	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	NET INCOME/(EXPENDITURE)	TO	NET	CASH	FLOW FROM	OPERATING
	ACTIYITIES
									2021	2020
	Net income/(expenditure) offinancial activities)		for the reporting		period (as per	the	statement		89,786	49,284
	Adjustments for:
	Depreciation charges								11,924	3,392
	Interest received								(159)	(313)
	Exchange movement	on social investment							1,663	(907)
	Exchange movement	on fixed		assets					1,209	(492)
	(increase)/decrease Decrease in debtors	in stocks							2,321 18,738	(4,991) 9,994
	Increase in creditors								29,374	8,415
	Net cash provided	by (used		in) operating	activities				154,856	64,382
2.	ANALYSIS OF CHANGES		IN	NET FUNDS
							At	1/4/20	Cash flow	At 31/3/21
	Net cash
	Cash at bank						103,151		115,853	219,004
	Total						103,151		115.853	219,004

DONATIO	NS AND L	EGACIES
			2021	2020
				F
Donations	and grants	received - UK	849,757	507,656
Donations	received —Uganda		447	580
Donations	in kind —Uganda		6,837
Local funding partner		CAMEO-AID - Uganda	26,375
			883,416	508,236

Raising	donations and legacies
		2021	2020
			F
Trustee's	remuneration	24,967	18,215
		24,967	18,215

						Direct costs	Support costs	Totals
							(See note 8)
Luwero	project					222,611	12,741	235,352
Jinja project						214,364	7,220	221,584
Bugembe		UN Habitat project				31,466	1,698	33,164
Operations		and Maintenance			(Luuka)	97,957	5,521	103,478
Uganda	Sanitation		Health	Activity		137,061	5,521	142,582
Buyende						1?9,002	9,766	188,768
						882,461	42.467	924,928

						Governance
				Staff costs	Other costs	costs	Totals
					F	F	F
Luwero	project			9,314	971	2,456	12,741
Jinja project				5,278	550	1,392	7,220
Bugembe UN Habitat project				1,242	129	327	1,698
Operations and Maintenance			(Luuka)	4,036	421	1,064	5,521
Uganda	Sanitation Health Activity			4,036	421	1,064	5,521
Buyende				7,139	743	1,884	9,766
				31,045	3,235	8,187	42,467
NET INCOME/(EXPENDITURE)
Net income/(expenditure)		is stated after		charging/(crediting):
						2021	2020
							F
Depreciation - owned assets:			Uganda			11,924	3,392
Auditors'	remuneration	- UK				4,200	4,200
Auditors'	remuneration	- Uganda				3.887	6,224

STAFF COST	S
								2021 f	2020
Wages and salaries - UK								54,084	44,841
Wages and salaries - Uganda								241,973	188,010
Social Security	costs - UK							1,039	778
Social Security	costs - Uganda							15,465	14,435
Pension costs	- UK							889	798
								313,450	248,862
No employees	received emoluments			in excess of		f60,000.
The average monthly number of			employees		during	the year was as follows:
								2021	2020
UK								2	2
Uganda								56	48
The total key management		personnel		remuneration		benefits during the year was		f24,S67(2020 - 818,215).
COMPARATIVES FOR THE STATEMENT					OF FINANCIAL ACTIVITIES —31 MARCH 2020
						Unrestricted		Restricted	Total
						fund		funds	funds
								F
INCOME AND	ENDOWMENTS		FROM
Donations and	legacies					508,236			508,236
Charitable activities
Luwero project							336		336
Jinja project							229		229
Buikwe District	Fisheries Community			Development		42,939			42,939
Program (BDFCDP)
Uganda Sanitation Health		Activity						41,558	41,558
Investment income							313		313
Other income						7,678			7,678
Total						560,276		41,558	601,834

12.	COMPARATIVES FOR THE	STATEMENT OF FINANCIAL	STATEMENT OF FINANCIAL	ACTIVITIES —continued	ACTIVITIES —continued
				Unrestricted		Restricted	Total
				fund f		funds	funds f
	EXPENDITURE ON
	Raising funds			18,215			18,215
	Charitable activities
	Luwero project			123,976			123,976
	Jinja project			211,795			211,795
	Bugembe UN Habitat project			32,718			32,718
	Operations and Maintenance	(Luuka)		103,092			103,092
	Kaliro			1,016			1,016
	Uganda Sanitation Health Activity			27,703		34,035	61,738
	Total			518,515		34,035	552,550
	NET INCOME/(EXPENDITURE)			41,761		7,523	49,284
	RECONCILIATION OF FUNDS
	Total funds brought forward			66,913		15,436	82,349
	TOTAL FUNDS CARRIED FORWARD			108,674		22,959	131,633
13.	RESULTS OF PARENT CHARITABLE		COMPANY
	The total income ofthe parent	charitable	company was f850,124and net surplus		was	f74,125.
14.	TANGIBLE FIXEDASSETS —Group

TANGIBLE FIXEDASSET	S —Group
	Tools,
	equipment &	Office furniture		Computer
	machinery	8 equipment f.	Motor vehicles	equipment f	Totals f
COST
At 1 April 2020	29,405	12,711	50,251	10,827	103,194
Additions Exchange differences	3,486 ~436)	386 ~180)	33,992 ~467)	1,298 ~126)	39,162 ~1,209)
At 31 March 2021	32,455	12,917	83,776	11,999	141,147
DEPRECIATION
At 1 April 2020	23,794	9,932	45,658	9,117	88,501
Charge for year	1,359	434	9,259	872	11,924
At 31 March 2021	25,153	10,366	54,917	9,989	100,425
NET BOOK VALUE
At 31 March 2021	7,302	2,551	28,859	2,010	40,722
At 31 March 2020	5,611	2,779	4,593	1,710	14,693

SOCIAL INVESTMENTS -Group
	Programme
	related	Totals
	investments
MARKET VALUE
At 1 April 2020	25,424	25,424
Exchange differences	~1,663)	~1,663)
At 31 March 2021	23,761	23,761
NET BOOK VALUE
At 31 March 2021	23,761	23,761
At 31 March 2020	25,424	25,424

STOCK	S -Group
		2021	2020
		f
Finished	goods	10,192	12,513

				Group	Group	Charity	Charity
				2021	2020	2021	2020
				F	F	F	F
Other debtors				11,863	30,601
				11,863	30,601
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR —Group and charity
				Group	Group	Charity	Charity
				2021 f	2020	2021 f	2020 f
Trade creditors				40,072	23,700
Microfinance	Revolving	fund		23,761	25,424
Accruals and	deferred	income		8,590	4,390	8,590	4,390
Other creditors				11,700	1,235	11,700
				84,123	54,749	20,290	4,390

MOVEMENT		IN FUNDS	IN FUNDS
										Net movement
									At 1/4/20	in funds	At 31/3/21
										E
Unrestricted		funds
General fund									108,674	96,115	204,789
Restricted funds
Kaliro project Uganda Sanitation			Health		Activity				15,436 7.523	~6,329)	15,436 1,194
									22,959	(6,329)	16,630
TOTAL FUNDS									131,633	89,786	221,419
Net movement		in funds,		Included			in	the above	are as follows:
									Incoming	Resources	Movement in
									resources	expended	funds
										E	E
Unrestricted		funds
General fund									937,208	(841,093)	96,115
Restricted funds
Uganda Sanitation			Health		Activity				102,473	(108,802)	(6,329)
TOTAL FUNDS									1,039,681	)949,895)	89,786
Comparatives		for	movement			in	funds
										Net movement
									At1/4/19	in funds	At 31/3/20
										F
Unrestricted		Funds
General fund									66,913	41,761	108,674
Restricted Funds
Kaliro project									15,436		15,436
Uganda Sanitation			Health		Activity					7,523	7,523
TOTAL FUNDS									82,349	49,284	131,633
Comparative	net movement				in	funds,		included	in the above are as follows:
									Incoming	Resources	Movement in
									resources	expended	funds
Unrestricted		funds
General fund									560,276	(518,515)	41,761
Restricted funds
Uganda Sanitation			Health		Activity				41,558	(34,035)	7,523
TOTAL FUNDS									601,834	~552,550)	49,284

ANALY	SIS OF GROUP NET ASSETS BETWEE	N FUNDS
		Unrestricted	Restricted
		funds	funds	Total
		F	F	F
Fund balances at 31 March 2021 are
represented by:
Tangible	fixed assets	33,046	7,676	40,722
Programme related investments		23,761		23,761
Current	assets	223,093	17,966	241,059
Current	liabilities	~75,111)	~9.012)	~94,123)
		204,789	16,630	221,419

A summary ofthe results ofthe subsidiary (before consolidation ad	justments) is shown below:
	2021	2020
	P	F
Income Expenditure	930,311 ~936,552)	412,415 ~429,663)
Surplus/(Deficit)	~241)	~17.248)
The aggregate ofthe assets, liabilities and funds was:
	2021	2020
	F	f
Assets Liabilities	98,898 ~63,833)	85,665 ~59.359)
Funds	35,065	35,306