REGISTERED COMPANY NUMBER: 01773933 IEn9land and Wales)
REGISTERED CHARITY NUMBER: 2B8388
REPORT OF THE TRu￿EE$ AND
CONSOLIDATED FINANCIAL STATEMENTS FOR THE
YEAR ENDED 31 klAR¢H 2024
FOR
THE BUSOGA TRUST
MHA
Charte￿￿ knountants & Slatuiory Audltors
Elfed House
Oak Tret Court
Cardiff Gate Busines¥ Park
CARDIFF
CF23 8RS

THE BUSOGA TRUST
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report ofthe Trustees
1to6
Report of the Indtrpendent Audltows
7t09
consol￿ated Statementof Financial Activibes
10
Consdldated and Charity Balancp Sheet
11
Cons(Aldated Cash Flow Ststement
12
Notes to the Consolidated Cash Flow St8temeTht
13
Notes to the Cl￿8011d8t8d Finandal Ststgments
14to24

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDEO 31 MARCH 2024
The InJs*ee$. who are also directors of the pa￿nt charitable company for the purposes of the Companies Act 2006.
Present their report wth the consolidated finanaal staternenl of the ¢haritable company and Ils subsKliary for the y88r
ended 31 March 2024. The trustee3 have adopted the provisnns of Accounting and Reporting by Charities.. Statement of
Recomm8nd8d Practice applicable lo charities prepa￿￿9 their account5 in acwrdar¢e the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 Janyary 20191.
OBJECTIVES AND A¢TIVITIES
Objoctives and aims
Mi$$ion Statemont
To contribute to poverty eradiealK)n through providing njral Ugandan communities %￿th suslaiTh8blè safa w8teE sources
with adequate s8nitstlon and hygiene pracuces. Such developtnetrt in water, 58nitation and hyglene, reduces the burden
of disease from vulnerable communit'es and helps build healthy and prosperous ¢¢ynmunities.
Obltcts
Our objectwe5 as stated in the goveming documents am..
The reliel of poverty through(ytst the world and particularty, bul withoul F¥eludEce to, the ganorallty ol thè for8going in
the Busoga region of Uganda.
The promotion of the Christian rellglon In Uganda and throughout the worfd.
Actlvlties and how we work
The Busogs Trust operates as a servlce provider In partne(ship wllh fundlng bodiès to impkrnent prograrnmes on Ihe
ground. In the past we have been fortunate to enjoy successful partnerships with organisalions such as DFID, Comic
Relief. Plan Uganda, water￿d, UN Hèbital. Ihe Water TrusL Simavi. Global Fund and, most re￿n￿y, the Icèlandic
Embassy.
Our activiti￿ primarty inrAude-
Watgr $ouK• ¢on$tructlon
and rehabllkation:
Boreho16 rèh8bilitati&ry. shall(Iw hand dug well construction, shalbw hand dug well
rehabilitation, drilled boreholes. rainwaler haNesJng and spring protection.
Sanitation trainlng and latrfne
¢on$tru¢tl¢Jn.'
Peri-urban cunmunity latrine construction (funded via micro-financel, schod latrine
blod( construction and behavK)ural rhang8 tdggering through Community-Led Total
Sani18ti0n.
Hygleng..
Home improvement eampaign8. With trainir4J Trn.. buiksing hand washing laeiltties.
¢Jrwng Tacks and ￿tchen5.
Envlronrn•nt-
Tree planting, beehives.
Publlc benefft
The organisation's tru5te85 can confirm that they h8ve ¢c*nplled with the duty in Secuon 17 of the Charities Act 2011 to
have due regard to public b8nefil guidance published by the Commlsslon. Significant OCttMUes Ihal we unthrtCAik during
Ihe year that demonstrate PU￿1C benefit are 58t out bdow.
Page 1

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Signifieant aetrvities
In 2023 - 24 our significant achievements w*re'.
142 Rehabilitated Borehdes.
64 Rehabi1Slated Shallow hand Dug W8115 ISHDWI.
4 New Borehole5.
Totsl ¢ommunity water sources 210
1.378 Domestic L8trines Instal￿d.
4,315 Tippy tsps Ihandwashing f8cilrtiesl created.
191 Comrnur*tbe$ enrdled onto the Payments by Results IPBRI Programme.
192 Menstrual Hyglene Man8gernent {MHMI W0￿shopS CoThJueted.
9,368 Trees Planted
1.800 Banana tr88 saplings Distributed
10
603 BEehiv8$ Distributed
So¢lal Inveslmonts
Program related investsrents are applied dI￿¢￿Y to the projects ItsF which they h8V8 been specified. If any Change5 to th8
oiginal speeification are required, the donor wlll be contact8d to giv8 P8rmission to do so. Every prO1￿t Is managed by a
Distr￿1 Manager who records the budget an¢J monitors spending. A Completion rewrt ￿ provftled at the end of a project
and. when required by funders, speciali5ed reports are producgd throughout.
Mixed rnotive inve5trnents, which a￿ not speafically to be used on indivKluaf programs, are wed io fund all aspects of
our operations. These include overhead costs for 5tsff, vghicles, office rent, utllilies, eic.. and may also b& used lor
project op8rats'ons.
In order to 8chi8ve our 8im$ and objectives both types ol investrnenl are necessary. Project ￿lated invesbnenl 8nables
specific work based on these obje¢tivès to b8 completed in the field. Mixed rnolive investments enablè our operations to
function io the wulfed level through the proM$ion of atsff, equipment, offices and aN other relevant overheads.
Volunteers
Th8 Busoga Trust vclunteer program has Tficreased alongside our 50+ regular strff. We do not acknvely seek them, bul
when Ihey approach us, if we think they h8v8 somethlng, both to ￿ntrIbute anij to gain by volunleering, we occasionalty
empby thern on the basis that they a￿ volunteers. Many of our in-country volunteers have rlsen up through our Orphan
fund and have proven to be a very much valued part of the 8.T. team.
The only financial support we giv8 to a UK volunteer Is to cover their accornm(xlation in our Gu9St Hwse. flights and
provide the sarne r￿Id allowance given to our Ugandan vdunteers. For th8 latter. who are covered by our Ugandan
insuranr£ pol￿*e$, a daily allowance lorfoLyJ is Provided bu¢ we do not provide lodgSng.
Many volunteers 17ave gone on to bec¢yne full time pald Twst empbyees doing valuable work for th8 Busoga Tnjst
Page 2

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
The finar￿101 results for the year ended 31 March 2024 are shown in th8 attached ￿n$￿idated flnancial statements.
Total income for the year was £772.98412023.' £1,065,145).
At the 31 Ma￿h 2024. the group h81d totsl funds of £53,550. of these £Nil were restricted funds. There were no
designated ftjnds.
Un￿stricted fvnds totalled £53,550 of these £35.087 are held 8$ unrestrided fixed assets and a fvrther £24,450 as
Programm8 related investments. therefor8 th9 group has no free reserves at this time.
Principal funding 50urc¢s
Th8 Busoga Trust has two fijnillng streams, the Blue Nile (Ugandan incornel and the Whit8 Nile (UK income). Of Ihese
o. UK in¢orne ha$ been rnuch th8 larger and more conslstont. Since 2000 all UK income has bèen frorn private
sources, individuals, eharilies, chur¢hes. schools, Rotary clubs, etc. These fvnds have to be applicable to the Busoga
Trust's key objectiv8s in WASH 'Water Sanitation and Hygiene,. *lhough occasion311y wa also rnonitor donat￿n$ for
proiects lik8 schools and olinles from rnosyy publi¢ sources such as government, districts. overseas governments and
also some NGOS. Agaln. these funds must be applicabte tg Ihe Busoga Trusfs key WASH objecbves.
Investment policy and objectfves
Under the Mernor8ndum and Artides of Ass￿181[0n. the charity has the power to make any investment whlch the
Iruslees see fit. The company Invests surplus funds in cas%tal and premium reserve accounts at a bank. The trustees
consider that cornbining instanl access and a modest rttufn on investment Is the nN)st suitablè inv8Strnent policy for the
Tw5t.
Res¢ryos poll
At the 31 March 2024. the group had free reserves of £NA. The timing of donabons results in the free re58rve5 flu¢tuaUng
quite significantjy over the ¢ourse ol Ihe financial y8ar. The Trust received some significant donation$ in ￿ri1 2024. the
start of the next financial year. The trustees aim lo maintain suffic￿fit reserves to fund the running and development of
Ihe charity. in accordance with th8 charitable objects. With that in mind the trust8es consKler ¢hat reserves In the range of
£100,000- £150,000 are appropriate which would resKesent 2.3 months of op8rating expenditu￿.
FUTURE PLANS
If we receive the same level of fundtng from private donors, we antiopato achitving $lmilar outcomes in the next financial
year regariying our water sourcg rehabilitation, latrine construction, and hygiene, sanital.on anitt enVi￿nMental actniilies.
A clear strategy for the financial year 2024-2025 ￿ sn place for the Trusvs opèration8 in Uganda, ￿kniGh continu85 to
focus on delivering borehote rehabilitations and shallow hand dug well rehabilitations eath month wth accompanwng
'WASH BET package" Iwat8r, sanitation, hygiene, bees and tieesl, as well as implernenting the PBR progrkmrne in each
community. B.T.'s WASHBET pa¢ka9e Includes constructing 18trine8 8nd h8ndwashing facilit￿5, offering tree saplings ot
subsidi5ed pri￿5 and d5stributs.ng b8ehiv8s lo help fight deforestation in njial Uganda. and conducting menstrual hygiene
rnanagement workshops forwomen aFtd girf$.
Page 3

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENOED 31 MARCH 2024
STRUCTURE. GOVERNAN¢e AND MANAGEMENT
Governln9 do¢ument
The charity is consb"luted as a company limiled by guarantee, incorporated on 29 November 1983 under a Memorandum
of Assoeiati¢)n which established the objects and power5 of Ihe charitable company. It 15 govemed under its Arbcles of
As50ci8tion. In the event of the company being W￿nd up, the mernbers are required to contribute an amount not
exceeding £1 each. The Trust has dlspensation frorn the relevant aulhoribes to omit the word 'Litnited' froffi its name.
Recrultrnent and appointmgnt of new trustees
AJI direct￿S of th8 company a￿ also trustees of the charity, and ther8 are no other trustees. The 8oard has the power to
appoint additsonal trustees as 6t consider5 fit tg dg so. The tnjstees become ellgible for re*lection every three y¢8rs.
Dg¢l$lon maklng
The Busooa Trust UK18TUKI has alway5 sought to be a pather to Busoga Trust Uganda (Brui. In 2000 Busoga Trust
took a prtncipleé dedslon to devolve gov¢mrnent of the Ugandan operations to our Ugandan manag8m8nt. However.
because BTUK is the princip81 funder. and must be fully a¢countable to our donors, whom we also need to find. there is
consiant communication and dialogue be￿￿n BTUK and BTU Iwhtch is a Ugandan regISte￿d NGO). This allows BTUK
to make suogeslions and to offer guidance as well 8$ seek transparent wlomiats"on. We work in Busoga Trust at 811 levels
as a united team supporting one another.
The senior manag8rnenÉ team. alongside the Executive Director IEDI, address daily operational d¢¢isSons, rèmaining in
constant conlacl and sharing thoughts and idea5 to achieve optin7um outcomes. MO￿ slgnlfi(ant decislon-making is first
discussed by the senlor management team. then a ftjll report and options are piEsènted to the trustees. Ml parties work
in unison to rllak8 final decisions befo￿ they are ac*oned by the sanbr rnanagem9nl team.
Indudlon and lialnin9 of new trustees
Busoga Trust tNslees are indivlduals who have already shown a keen interest Sn, and often also offèr8d Iheir support for,
our work. Those who ar8 invited by the present ED and the Board to consKler becoffling a trustee are then inlroduced to
Ihe Board, and, whgn there is a good Interaetion, may be knvited to becorne a trustee. As part ol their induction, Ihey
receDie a full briefing on the ￿rrent aim5 and objective5 and progress towards achlevlng them.
Key management remuneration
The benchmark 4F58d for the ED'S pay has been to be comparable to the stipend of a Cknfrrch of Engl8nd priest. Thus,
frorn £5,000 p.a. in 1983. it has risen gradually to £25,000 p.a. for the year ended 31 Mar¢h 2024, though, as there is no
ac¢omm¢)dalion prowded, it 15 much less than thal of a Church ol England priest. The Busog8 Trust believe5 in ke8pir
the ED'S pay at a low level in order to maximise the funds devoted to seNing the petsple for whom the Tn￿1 exists. The
remaining trustee5 carry out their stewardship of the Trust wthoul rernuneration of any
For other pewnnel. deosions are based on current sector pay brackets tK>th in the UK an¢J Uganda tts ensure salarie$
are fair atsd nol èxctrssive. Remuneration for staff. both In Uganda and the UK, ig (y)mp8r8ble to the rat8s in Ihe NGO
sector in their re5peclNe countrie5 and is subject to Ihe approval of the ED.
Related partles
The charity, by virtue of corn￿3n tru$tees, controls The Busoga Trust, a non-90￿Mmental organisation Ireglstration
nutnber S5914130781 In Uganda. These finandal statements cont8Sn the consolidated rosults for both ents'ties.
Trusteo Consult IUI Llmit8d is a company incorporated in Uganda whlch is entrusted wtth the m8Tragement of operations
for th8 Kaliro rainwater harvesting prolect executed under a Memorandum of Understanding. Th¢ sharehddets of
Trustco Consult IVI b'mtted are employees of The 8usog8 TNst Iugandal.
R15k managemènt
Where appropriate. syslerns or procedures have been, are being, establish8d lo mitt9ate the risks the charity face5.
Internal Control risks are mbnlm1s￿ by thè implefflentation of procedures Igr 8Uthori$ation of all projects and transactions.
Procedures Bre In place to ensure Cornplian￿ with health and safety of staff, volunteer5 and others. The5& woceduies
ar8 periodically reviewed to ensu￿ that they continue lo meet the nèeds of tho charity.
Fundrai$lng
The Busog8 Trust is a Chrisl'an misslon ol faith and Sn Ihat re5pect1s different to many other NGOS. We ults'malety lod
to God to supply all our need5, including funding, and as we approach ¢xJr 40 year we have moved steadily forwards
wllhout Intermisslon. We seèk SUPF)Ort from all who share our obje¢tives, of whateverfarth or none and we seNe those of
whatever faith or none. Our rnethod of fundraising is. firstly. to pray and, secondly, to shar8 the n8ed and our story. We
only approach charitable bodies dlrecuy with fijndiry requ8Sts a5 that Is what they require. When invited wt makè
presentats.ons to private groups, and when asked we tell them the funding reouirements. Our appFvach to funding IS
genlje bul act(ve. We have never badgered anyone for money and we have never used a prOf6sS￿naj lurvjraiser.
Page 4

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Fundraising continued
Fundraisin9 is underiaken by the ED 8r¥J UK Oper8tionslDeveJopment Manager. Activth'es indude contacting trusts and
foundations. (ontsding prevTOUS SUPPOrters (￿th their pennissionl, and Individuals taktng Ih8ir own initiative to create
f¥ndraising events and pages for donations. All contact channels ar8 In8nag8d in accordance wllh the GDPR compliènce
regulations. The policy of the Charity is not lo Contact unknown members of the public who have never expressed ar*
interesl in the Charitys work. This protects th8 vulnerable and other members ol the public as ther8 ar8 no intrusions of
personal privacy, overfy persistent approachgs lor the purpose of Solic￿ng or otherwise procuring money, or undu&
pressure on a person to give money or other prop6tty.
REFERENCE AND ADMINISTIiATIVE DETAILS
Reglstered Company number
01773933 (England and Wales)
Reglstered Charlty number
288388
Regl$tgrod offi¢¢
82 St John St14th floor)
London
EC1M 4JN
Trustees
Canon Andrew Pearson
Jonalhan Franklin
Rob Smith
David Leonard
Anthony Sharp
Anthony Cook
Executive Director
hairnian
Resigned 20 May 2024
Appointed 21 Octob8r 2024
Senlor Managem•nt
Johnson Walbi
John Bosco Kabuye
Lydia Sla¢k
Country Programrrn Manager
Finance Manager
UK OperationslDevelopmeTrt Manager
Company S8crotary
D S C PeatsLYÈ
Audltors
MHA
Chartered Aceountants & Statutory Auditors
Elfed House
Oak Tree Court
Cardiff Gate Business Pa
CARDIFF
CF23 8RS
Bankers
Standard Chartered Bank Ltd- J5nja Branch
DFCU Bank- Jinja Branch
Stanbic Bank (UI Ltd - Luwero Branch
Cefttanary Bank Ltd- Wobulenzi BTaMh
Ba￿lay$ Bank IUI Ltd- Uganda
Slanblc Bank {U} Ltd- Mpigl Branch
Absa Bank
Natwest PIC- UK
Page 5

THE BUSOGA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Irustees (who are afso the directors of The Busoga Trust for the puw)ses of company lawl are ￿spOnsI￿e for
preparing the Report of the Trustees and the financial Statements in accordan¢8 Wth applicable law and Llnlted Kingdom
Accounting Stsnd8￿s (United Kingdom Generdlly Accepted Accounting practi￿).
Cornpany requires th% trustees to prepare hnancial ststements loi each finan￿al year which gwe a true and lair thew
of the state of affairs of the Charifable company arKI of th8 incoming resources and appli¢8bon of resourees. induding the
Sncome and expenditu￿, ol the chanlabje company for that period. In preparing those financ￿1 statèments, the trustees
are required to
select suFtable accounting policies and then apply them consl$lentty,'
obseNe the methods and principles in the Charity SORP.,
make judgements and estirnales that are reasonable and prudent.,
prepare the financial statements on the golng conom basis unle5$ tt is inappropriats to Presume Ihat the
charitable ￿MpanY VAII conts.nue in business.
The trustees are resp)nsible for keeping proper ac¢ounling ￿COld$ which disd¢>se ￿1th reasonable accuracy at any time
the financial position of the charitable Company and lo ènable them to ensur8 Ihat Ihe financial stalernents compty wlh
the Companles Act 2006. They are also responsible for safeguarding the assets ol the charltable company and hence for
taking ¥easonable steps lor the pr8vention and detection of fraud and Other irregula¥its"ès.
In so far as the trustees afe awa￿..
Ihere is llo relevant audit information of which the (*aritable companys auditor5 are unaware.. and
the trus1885 have taken all Steps that they ought to have takèn to make thèmstlves aw8r8 of any relevant audSt
Infonnation and to estsblish that the audltors are aware of that inforrnation.
Approved by 0￿er of the Board of Trustees on..... ....
and signed on tts behalf by:
Canon Andrew Pearson- Trustee
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BUSOGA TRUST
Oplnlon
We have audited the financial 51atements of The Busoga Trust (the 'parent ch8ri1abl8 c(Ynpany'l and its subsidiary Ithe
'group'l for the year ended 31 March 2024 which comprise the consolidated Statement of Financial Adivitie5, IF18
Consolidated and charity BalaTr￿ Sheets, the eonsolidated Cash Flow Statement and notes to the financl81 slaternents.
Includin9 a summary of significant accounting policies. The financial reporting frarnework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted
Accounting Practice).
In our opinion the financial staternents..
give a true and fair view of the stale of the group's and Pa￿nt charitable cornpanys aflairs as al 31 March 2024
and of the group ¥ incoming resourcos and application of resourc8$, including its and expendStuie, for the
year then ended..
have been properly prepared in accordance h￿th Unlted K6Trgdotn Gen8raHy Acr*pted Accounting Practke., and
have been prepared in a¢cordance wth Ihe requirements of th8 Companies Act 2006.
Bas1$ for oplnk*n
Wè conducted our audit in accordance with Intemafjonal Standards on Auditing IUKI IISAS IUKII and appltcablo law. Our
resporssibilitres under those stsndards are furtt)er descrlbed in the Auditors responsibilities lor the audit of the financial
statements section of our report. We are Tndependent of the group and parent charitable company in accordance th
ethical requi￿rnents that are relevant to our audit of the finanual statements in the UK, induding the FRCS Ethical
Standard, ènd we have lulfilled our other ethical responslbilille5 in accordanc8 with these requirements. We bdieve that
the audit ewdence w8 have oblained is sufficient and appropriate to provide a for our opinKJn.
Con¢luslon$ relating to gtslng concern
In audthng the financi81 statements, we have concluded thal Ihe tnf5tee5' use of th8 going concem basis of acwunting in
the pr8paration of the financial statements Is appropriate.
Based on the work we have perforrned. w8 have rK)t identified any malefial Un￿rtaIntieS ￿lating to gV8nt5 or conditions
that, indivlljually or collectively, may cast svJnifi¢anl doubt on the chaiitable groups abi1Sty to eontinue as a going concem
for a period of at least hvelve months from when the finantsal 5tatem8nts are authorised for issue.
Our re8ponsibililies and the ￿SponsIbl11t[es of the trustees with respect to going ¢on¢ern a￿ described in the relevant
section$ of this report.
other Informatlon
The trustees are responslble lor the olhèr informabon. The other inlomialion coMp￿e8 the Infomaiton included in Ihe
anThu￿ report, other than the finanoal statements and our Report of the IndependentAuditors thereon.
Our opIn￿)n on the ffinancial stslements does not cover Ihe other information 8nd. except io the extent othewse 8xplicilly
Stated In our ￿POrt, we do nol exp￿$$ any forrn of assuran￿ conclush)n thereon.
In connection with our audit of Ihe flnancia statements. our rèsponsibilty is to read th9 Other information and. in doing
so, consider whether the other Snfom)atr"on Is rn2terially inconsistent with the financial stsiemenls or our kno￿edge
obtained in Ihe avdil or otheM5e appears to be materially misslated. If we k5enlify such materlal Inconsistencies or
apparent material mlsstatements, W8 are required to detemiine whether there is a material misstaternent In Ihe finanual
statements or a material misstatement of th8 Other tnformation. If, based on the work we have perfomied, we conclude
that there is a matedal mlsstatement of thi5 0lh8r information, we are required to report that lact. We have nothing 10
report in this regard.
Opinions on other matters pre$cribed by the Companies Act 2006
In our opinlon, based on the work undortak8n in the ¢ourse ol the audit..
the infomatlon g￿eTh in th8 Report of the Trustees for the financial year for whleh the finanual statemer¥ts ar6
prepared is consistent wth the finandal statements,, and
the Report of the Trustees has btèn p￿pared in 8ccordance with applr¢atAe legal requlfements.
Page 7

REPORT OF ThE INDEPENDENT AUDifoRS TO THE MEMBERS OF
THE BUSOGA TRUST
Matters Ctn whl¢h w• ar• requTrred to report by gx¢eptlon
In the light of the knowledge and understanding of the charitable compary and its environment obtained in the ¢cKJtse of
the audiL we have not identifled mat8ri41 misstatements in Reix)rt of the Trusteès.
We have nothing to report in respect of Ihe followrnj malter5 where the Cornpanies Act 2006 ￿qUIreS us to report to you
if. in our opinion..
adequate accounting records have not been kept by Ihe Pa￿llt charitable eornpany, or retums adequate for our
audit have not been received from branches not vksiled by vs= or
Ihe parent charitable company's financial ststernents are not in agreement with the a¢coun*"Tr4 records and
returns.. or
certain disclosu￿$ of trustees, ￿Muneration specified by law a￿ not made.. or
we have not retsived 811 the inlomiati¢)n and emplanations we roquire for our8udit', or
Ihè trustè85 wère not enl'tled to prepare the financial statem6nts in accordance vrilh the sman companias
iegime and take advantag8 of the small cgmpanles. exempuon In preparing the dire¢tgrs' report.
R85ponsibiliti83 of trustees
As explained more ftjlly in the Slatement of TNstè8s Responsibilities, the bijslees Iwho a￿ also the directr￿$ of Ihe
charitable company for U)e purposes of cornpany lawl are responsible lor the preparation of the financial statements and
for belng satisf*d that they give a tnje and fair view, and for such intemal control as the trustees determine is necessary
to enable the preparation of ffinan¢ial statemethts that are free from material miss¢8temen( vthether due to fraud or error.
In preparing the financial statement5, the Iruslees are responslble hr èsses5ing the group's and parent charitable
companls ability to continue 8s a going Concern. dlscloslng, as applicable. fflatters relat8d to going ¢oncem and uslng
the going concéin basis of accounting unless the trustees eith9r intend lo liquidate the group or the parent tharitsble
)mp8ny or to cease operations. or have no realist￿ aliernative but to do so.
Our responsibilities for the audit of the flnan¢ial Statements
Our objective5 are to obtain reasonable assuran¢ts about whether the fjnancial Statements os a bthole arè free from
rnatellal misstatemer*L whether due to fraud or error, and to IS5u8 a Report of the Independent Au¢sito￿ that indudes our
opinion. Reasonable assurance is a high18vel of assurance bul Is not a guafanlee that an audit conducted in accordancè
with ISAS IUKI wll always detect a material misststemenl when it exists. Misstatements can 8rise from fraud or error and
ère considered material rf, individually or in the aggregate, they could reasonabty b8 8xpecled lo infiuence the economic
d8cLslons of usar5 taken Ihe basis of these financial statem8nts.
I￿gUlarthes, induding fiaud, org instsnces of non-comp1iar5￿ wllh laws and regulotions. We design proCedU￿S in
Ilne wth our ￿SponSibl11t1es, outlined above. to ¢Jetect rnaterial misstatements in respect of Irregularit￿$, including
fraud. The specific procedures for Ihis engagement and the extent to which these a￿ capable of det8cling
Irr8gularities, induding fraud is detailed below..
We evaluated management's incantives and opportunities for fraudulent rnanipulation of the finasTrcial statemen15
(including the risk of override of controls) and ¢Jetermined that the principal risks were related to posting inaccurate
journals. We addressed these risks by carrwng out SP8cificdly tsr9eted procedures, bthich Included..
Enquiries of fflanagement, th058 Cha￿ed with govemance around actual and potential litigation and claims.,
Performing audit wod( over the risk of management override of controls, including testing oljoumal entries and
other adjustments for appropiiateness. evaluating the business rationale ol significant transactions outside
the norrnal course of business..
Reviewing miTrutes of Meetings ofthose tharged with governan￿..
Evaluating the reasons for any large or (Fnusual trans8dions',
Rewiewing financial slal8rnent disclosures and testing to suppordng doctJment8tion to a58ess cornliancewtth
applicab18 laws and regulations.
Becaus8 of the inherent limitation5 of an akjdit there 1$ a risk that we will not detect all Irregularittts. induding those
leading to a material mi5Statement in the financial statement5 or non-compliance wrth regulation. The risk
increases the more that compllance %wth a law or regulation is rerngved from the events and transadons fvfiected
in the finanThal statements as we will 18ss l&kety io b8¢ome aware (Ff instances of non-compliance. The risk is
also greater regarding irregularities OCCUfring due to fraud rather than orroi, as fraud Involves Inlenth)nal
con￿a1rnent. forgery, collusion. omisslon or misrepre5ent8tions.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE BUSOGA TRUST
A fvrther descrfption of our respon51billti8s for the audit of the finanLyal statements is located on the Finan¢i81 Reporting
Counctl's website at m.fre.org.ukJauditorsresponsibilthes. Thls dèscription forms part of our Raport of the Indepondèni
Auditots.
Us¢ of our report
Tttis ￿POrt is made solely to the charitable company's members, a5 a body, in accordanc8 Wlth Chapter 3 of Part 16 of
Ihe Companies Act 2006. Our audit work has been undertaken so thal we Might state to the charflable eornpany's
members tho88 matters we are reqUI￿d to state to them in an auditors, reix)rt and for no other purpose. To the fullest
extent permilled by law, we do not acc8pI or assurne responsibility lo anyone olhar than the charitablg cornpany and Ihe
charitabl8 company's mernb8r8 8S 8 body, for OUT aud￿ work, lor this report, or for the op'nions we have lomied.
Julla Mortlmer FCCA ISeniorSt8tutory Auditor)
for and on behalf of MHA
Sta￿tOry Auditor
CARDIFF
CF23 8RS
Date..R.kn.knr.2oaiF
MHA is the tra#lng name of Maclntyre Htygson LLP, a limtted Ilablllty parts)ershlp in Englan(J and Walgs Irggls¢ered
numbèr OC3123131
Pag6 9

THE BUSOGA TRUST
CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2024
2024
Total funds
2023
Total funds
Unrestricted
fund
Restri¢led
ftjnds
Nots$
INCOME ANO ENDOWMENTS FROM
Donat￿n$ and lega¢des
Charltsble a¢tlvlUès
Luwero project
Uganda Sanitstion Health ACt￿￿ty
763,918
763.918
1.013,881
654
654
927
44,087
Investment incom8
other income
2.770
5,622
2,770
5,622
1,361
Total
772.964
772.964
1.065.145
EXPENDMJRE ON
Raising funds
Charliable actlvltle3
Luwero proiect
Jinja project
Oper&hons and maintenan￿ (Luukal
Vganda Sanitation Health Activity
Other project areas
25,0(K)
25,000
25,000
256.763
226,919
179.779
256,763
226.919
179.779
1.613
142.118
377.567
249.994
184,900
59.417
176,915
1,613
142,118
Tolgl
830.579
t.613
832,192
1,073,793
INCOMEIIEXPENDITUREI
{57,615}
11,6131
159,2281
18.6481
TIiANSFER BETWEEN FUNDS
RECONCILIATION OF FUNDS
Total lund$ brought fornard
111.165
1,613
112.778
121.426
TOTAL FUNDS CARRIED FORWARD
53,550
53.550
112,778
The notes fomi part ofthese llnandal statements
Page 10

THE BUSOGA TRUST
CONSOLIDATED AND CHARITY BALANCE SHEET
AT 31 MARCH 2024
Group
Cha￿ty
2024
2023
2024
2023
Notes
FIXED ASSETS
Tangible assets
Programme relat￿ Investrnenls
14
15
35,087
24,450
48,545
25.653
21.610
28,814
CURRENT ASSETS
Stocks
Debtors.. amounts falwng due within ong ygar
Cash at bank
11,189
45.925
121 113
12.898
24.991
142,120
17
7.330
82.565
178,227
180,009
$4.774
82,565
CRED￿oRs
Amounts falling due within one year
18
1184,214)
1141,4291
115,3671
121.6881
NET CURRENT ASSETSIILIABILITIESI
38,580
39.387
60,877
TOTAL ASSETS LESS CURRENT LIABILITIES
53.550
112,778
eo,997
89,691
NET ASSETS
53.550
112.778
60.997
89.691
FUNDS
Unreslricled funds
R8Stricttd funds
19
53.550
111.165
1.613
60,997
89,691
TOTAL FUNDS
53,550
112.788
60,997
These flnancial statements tsave been prepared in accordanea ￿th tho provisions ap￿iCabl9 to th8ritablè companles
subject to Ihe small companies wirne.
The finanoal ststements were approved and atrthorfsed lor Issue by the Boarf of Trustees on
.j.n.4..3ga4e￿ signed on ils behalf by..
>z
Canon Andrew Pearson-Trustee
The notes form part ofthese financial ststements
PAgO 11

THE BUSOGA TRUST
CONSOUDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operallng a¢Uvltl¢s.'
C8$h generated Irom operations
23.314
Net cash provided by (used Inl operatln9
acllvltlès
23.314
27.584
Cash flows from Investlng a¢tivitios-
Purchase ol tangFble fixed ass&tg
Interest receNed
14631
2,770
16.0031
1.361
Not ¢ash provlded by (used in) inv•stlng
a¢￿vItI&$
2.307
Change in ea$h and cash equlvalents In the
reportlng perlod
Ca$h and ￿$h equlvalents at tho I￿innIng of
the reporting period
121.0071
Y2.942
142,120
119.178
Cash and Cash equlvalents at th• end of tho
reporting poriod
121 113
142,120
The notes fom) part ol these finanth81 staternonts
P8ge 12

THE 8USOGA TRUST
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
RECONCILIATION OF NET INCOMEIIEXPENDITURE) TO NET CASH FLOW FROM OPERATING
ACTVIITIES
2024
2023
Net Incomellexpendlturel for the reporting period {a$ perthe statement
of financial activities)
Adjustments lor..
Depreaalion charges
Interest receive
Loss on disposal of r￿ed assets
Exchange movement on social investrnent
Exchange rnovernent on fixed assets
Ilncreaseydocrease in stocks
Ilncr8a5eydecr8ase in debtors
Inc￿$8 in ¢reditors
159.2281
18.6481
11.083
12,7701
15,681
11,3611
6,552
11641
13.1271
14,0001
17,3611
1.203
2,858
1,709
120,9341
42,785
Net cash provlded by (used Inl opgrating actlvlths
23.314
27,584
ANALYSIS OF CHANGES IN NET FUNDS
At 114123
Cash fiow
At 3113124
Net ¢ash
Cash al bank
142.120
121.0071
121.113
Total
142.120
210071
121.113
Page 13

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
STATUTORY INFORMATION
The Busoga Trust 15 8 registered chadty private eompany limited by guarantee wlthout share capttal. It is
incorporated in Wales in the United Kingdorn. Th& re9lStered office 1$ 82 St John Sl141h floor). London, EC1M
4JN.
The tr%J5tee5 of the pa￿nI tharftable company a￿ also trustees of The Busoga Trust, a nonwvernrnental
organisation in Uganda Iwilh ￿gIstratIon number S5914130781. The subsidiary based in Uganda has
operational centres in Jinja, Luwero, LuLtk8. 8u9grnbe, Buyende and Kalsro. Its county office addRss is PO Box
1993, Jinla, Jinja Muniupality.
The nature of the grujp's operations and prfnryP￿ activities Is dlsch)sed within the Report of the Trustees.
Tho financial statements are presented in Slerfing (£1, the group's fvnctional cuyrency. and rounded to thg
nearest pound.
The slg)ificant accounting policies applied in the p￿ParatIOn of these financial slaiements are set out bdow.
These policie5 have been consistenuy applied lo all years presented unless othe￿ise stated.
ACCOiINTING POLICIES
8a5is of preparing the finan¢lal statements
The financial statements of the charitable company have been prepared In &ccord8nce with Ihe Charitses SORP
IFRS 1021 'AccountirYJ an¢J Reporting by Charities.. Statement of Recommended Practice applicable to ¢haritl8S
preparing th6ir accoullt5 in accordance wilh the Financial Reportino Standard applicable tn the UK and Regubllc
of Ireland IFRS 1021 leffective l January 20191,, Financial Reporbng SlaTh8ard 102 The Financial R8FQrtin9
standard 8pplicable in the UK and Republic of Ireland. and the Cornpanies Act 2006. Th8 finanaal statements
have been prepa￿￿ under Ihe hlstorrcal cosl Convent￿n.
The Busoga Trust moets the defrnilion of a publlc bene61 enl(ty 89 d#rnonstr*ed within the Report of the
Trustee$.
The statement of finantsal actMtl8s, balance sheet and cash llow statement ar8 of the parent, The Busoga fnjst
and its 5ub5i¢Jiary undertaking The Busoga Trust (registerèd in Ugandal. The results of the SubS￿￿ary 8re
consolidated on a kne by line basis.
There have been no matèrigl dèpartures from Finanaal Reportlng Standard 102.
Golng concern
No material uncertainties rEl8ted to events or CA￿ditio￿ that may ¢asl significant doubt upon th8 group's abS1ty b)
conlnue 09 8 going Co￿¢￿rn 8XiSt.
Page 14

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS . CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES- ¢ontlnu8d
Income
All income is re¢ognised in the Staternent of Financial Activities once the group charty has elttrfement kn the
funds, It is probable that the incom6 will be ￿CeIved, and the amount can be measured reliably.
This includes capital grants.
Donations and le9a¢ies income
Donations and legaciès income >nclvdes donations, gffts and grdnls that provide core funding or, are of a g8nèTal
nature and are recognised where ther8 is entillemenl, probabS11ty of re¢elpt 8nd the afflount Can be measuwd
wilh suffiuent reliabllity. Such incorne is only deferyed when the donor specffies il musl be used in fulure
accounts.ng peiiod5 or th8 donor has irnry)sed conditM)ns which must be mgt before the group has uncondilion81
entillemant.
In¢om¢ from ¢harltabla aetlvltlos
Income from charitable activities indudes income received under contrdct or where enb'llement to grant funding 15
subject to specific performance Conditions. This incLyna is r8cognised as the related services are pmwded and
there is entidement, probabillty ol recèipt and Ihe amoL¢n¢ can be measured wth suffident reliability. Income Is
deferred when the amounts received are tn advance ol Ihe perfot¥nance of tha $8rvic8 or event to ￿leh thoy
relate.
Invg$tm¢nt In¢ome
Investsment income Is ￿COgnIsed on 8 rece¢vable tiasis.
other Incorne
Other income is recognlsed on a racaiv8bl8 basis.
Expendlluro
Ltabililes are recognised as expenditure as soon as there 15 8 legal or constructive obligation committing th8
group to that Èxpenditur8, it is prOba￿e that a transfer of economic benefits will be ￿9￿1￿ in settlement and the
amount of the obligation can be measur8d reliably. Expenditure is a¢coutFted for on an accruals basis and has
been classlfied under headings that aggregate all c05t related to the c8t890ry. Where costs cannot ￿ dir8cUy
attributed to particular h8adings they have beèn allocated to actiwties on a basis con&stent wth the use of
r&sourc8S.
Expenditu￿ on charitable activities ￿MpriseS those costs Incuffed by the group in the delivery of its activities
and 5eryices for *ls beneficiaries. It indudes both costs that can ￿ allocated directly to such activlties and th¢)59
costs of an indirect nature necessary to support tham.
Support costs are those costs IhaL whilst necessary tts deliver an actpiity, do not Ihemselves produce or
eonstitute the output of the charitsble actmty. Thi5 indude5 govemance costs which are those Costs as50Cl8ted
with meetin9 the constitutional and slatulory iequirements ol the Charity an¢Y indude the acc4)untsncy fges and
costs Ilnked to the strategic managernenl of the charity as well 8s a proporkon of salaries based on an
approxirnalion of tirne spent in this a￿a.
Allocatlon ond apportionment of cost5
Costs a￿ fltsuy alloc8t8d directly as to al costs ol generatlng voluntary income, bl Charitable a¢tivilies. and cl
90vemance costs. Support costs are allocated where p05sib18 on a ttme basis, a$ v41th salaries. Any remaining
allocaJon overcharilable activltios Is pro-rated 8ccording to the relative amounts ol al￿adY allctated direct costs.
Page 15

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES- eontlnuod
Tanglble flxed assets
Depreciation ss provkled at the following annual rates in ordgr to ¥vrite off each asset over its astirnated useful Iwe.
Computer equlpment
Motor vehic18S
Equipment. Ilxtures and fittings
25%- 30% on reducing balanc8
25% on reducing balanr
15Qh on reducing balance
Fixed assets are in111811y rewrdtsd al cosL
Progromme related Investments
Programrne related Inveslrnents are held lo furthw Ihe charitable wrposes of the charity, measured al c05t less
any provisth for dSminution in value.
Stocks
Stocks are valued at the lower of cost arfd nel reallsable valu8. after making aH¢)wance for obsolete and slow
movtng Items.
Taxatlon
The group Is exempt from corw8tior* tsx on ils Charitab￿ a¢￿vIties.
Forelgn ￿￿en¢l¢S
Assets and Ilabilitses in foreign currencies are Iranslèted into 5terting at the ra¢8s gf exchange ruling at Ihe
balanco sheel date. Transaetions in foreign currencles a￿ tr8nslaled into st8rfing at the rale of exchange ruling
at the date of transaction. E￿hange differerKes are taken into 8ccount in arriv¢ng at the operatiwd result.
Employee benef6ts
When employees have rendèr8d 58rwc8 to the group, short-temi empltsyeè ben8rrt5 to which empk)yees Are
entiled are recognlsèd at th8 undiscounted arnount expected to be paid in exchan9e for that servi￿.
Fynd accountln9
Unrestricted ¢und5 ean be used in accordance with Ihe tharitable objèctives at th8 discrelKJn of Ihe tnjstees.
Restricted fund5 Can onty be used for particular reslricled purposes wthin the obje¢(s of the charity. Restrictions
arise when specified by the donor or when funds are raised for partlcular restricted PUfP058S.
Further explanation of th¢ nature and purpose of each fund is indud8d in the notes to the fjnandal statemènts.
Penslon Costs and C¢ther p95t￿tIrement beneflts
The parent charttable eotnpany OP8fdtgs a defined contribution pension Scheme. Contributions payable to the
charitable cornpanws pensK)n scheme are charged to the Stal8rnent of Finan¢ial Act(vities In the period to whi
thèy retatè.
Operatlng leases
Rentals applicable to operating leases where sub5tanli8lly all ol the benefits and risks ol ownership r8mwn with
the lessor are charged against profits on 8 straighl line basis over the pgrtod ol the lease.
Financial instruments
Th8 group onty has financial assets anij fin8neial li2￿.11t19$ ol a kind that qualify as basic financial instnjments.
Ba81¢ financk?I Instruments a￿ initially recognised at transaction value and subseq¢Jently rneasured at Ihdr
sethmèntvalut.
Debtors wlth rKJ stated Intèrest rate arKI recelv8ble withln one yeai are recorded at transaction price. Any losses
arising from impairrnent ar8 recognised in expenditure. Prepaym8nts are valued at the amount prepaid net of any
trade discounts due.
Credltors and provlstons ar8 recognised where the group has a prèsent obtKJation r8sulting from a past event that
will probably result in the transfer ol funds to a third party and the amount due lo se¢Ue the abligation can b8
measured or eslimated reliably. Creditors and provlsions are nomially recognisèd at their sèttlèmant amount after
allowing for any trade discounts due.
Page 16

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDEL131 MARCH 2024
ACCOUNTING POLICIES- con￿nue￿
Sl9nlflcant a¢countlng }udgomonts and estirnates
Estimates and judgements are contillually evaluated and a￿ based on experience and other ￿levant
fa￿0￿. including expectations of future events that are believed to be reasonable under th8 circum$tan¢es.
The preparatron ol the financial statements requires management to make estlmate5 and as5umption$
concemiTrg tho future. Th8 resulting ac¢ounting estimates wlll. by definition, be likely to differ frorn the related
8CtU81 result5. No estimates or assumptions have been identified that have S￿nIfiCant risk of r2using material
adjustment to Ihg ￿ry1￿J any)unts of assets and liabiliti85 within the next financial year.
DONATIONS AND LEGACIES
2024
2023
Donatlons and grants received- UK
L8gzcy- UK
Donats'ons r8eeived- Uganda
Local funding partners- U9and2 (Seè note bdowl
660.516
7f.735
4,437
995,793
12,439
763.918
1013881
INVESTMENT INCOME
2024
2023
Deposit aetount interest
2.770
INCOME FROM CHARITA8LE ACTIVITIES
2024
2023
Actlvlty
Luwero project
Sa18 of spares & pumps
654
927
Grant Income
UgarKla Sanllation Heallh Aclvity IUSAIDI
44.087
654
45.014
Local fuThYing partners In Uganda irtludè."
2024
2023
Africa Moslern Agency
Haj8t Haehira
DEI International
Lions CILJb
Why Not AfriL* Ugarnda
8,685
3.754
20,980
1.774
12,439
Page 17

THE BUSOGA TRUST
NOTES TO THE CONSOUDATED FINANCIAL STATEMENTS - CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
RAISING FUNDS
Ralslng donation$ and 18gacle5
2024
2023
Tntsstee's remuneralon
25,000
25.000
25,000
CHARITABLE ACTIVITIES COSTS
Dlrect costs Support cost5
(See note 81
Totals
Luwero project
Jinia project
Operations and Maint8nanc¢ (Luukal
USHA
other proied areas
234,793
209.343
164.400
1,613
142 118
21.970
17.576
15,379
256.763
226.919
179.779
1.613
142.118
752,267
807,192
SUPPORT COSTS
Gov8man¢e
costs
Staff costs
Other o)sts
Totals
Luwero proiect
Jinja project
0pgr81ion$ and Maintsnance ILuuko1
15.764
12.611
11.035
2,330
1.864
1.631
3.876
3.101
21,970
17,576
15,379
39,410
5,825
9.690
54,925
NET INCOMEIIEXPENDITUREI
Nèt incomtllexpenditurel is slated after charglngllcreditingl..
2024
2023
preciation- owned assets.. Uganda
Depreciation- owned assets.. UK
Auditors. remuneration.. UK
Auditors, rernuneration.. Uganda
3,858
7,204
5,500
4.190
6.076
9.60S
4.200
3.987
Page 18

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
qo.
TRUSTEES. REMUNERATION AND BENEFITS
Twstees, remun¢rali¢n
The￿ were no trustees. remLtner8tlon or other benefits for the year ended 37 March 2024 or ftsr the yoar ended
31 Maich 2023 in respect of seNices as a trustee.
Included within staff costs Note 11 15 t25,000 12023.. £25.0001 for salary paid lo Canon Andrew Pearson, tn
respe¢t of services fyndered for fundr8ising work undertaken. This sa￿ry has beèn paid with the written consent
ot the Charity Commission ¢lav5e 4 01 the charity's Memorandurn & kticle5. The rem8inin9 trustees carry
out their stewardship of the Trust without remuneration of8ny kind.
Truste85' expen585
There w8r8 no trustee5' expenses paid lor the year ended 31 Marth 2024 or for the yearended 31 March 2023.
11.
STAFF COSTS
2024
2023
Wages and salariès - UK
Wages and salaries- Uganda
Soci81 Security costs. UK
Social Security costs. Ugan¢Ja
Pension cost5- UK
63,438
255,675
215
14.683
756
57,100
303,744
532
17,077
378.453
No empbyees fecelved ernc4urnents in excess of £60,000.
The average monthly number of employees during the year was as fvIIow5'.
2024
2023
UK
Uganda
55
The totsl key management ￿rsOnnel ￿muneral10n ben8fit5 during the year was £25.00012023.' £25.0001.
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES- 31 MARCH 2024
Un￿$(ri¢led
fund
Restrfcted
fvnds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charltable a¢tlvitlgS
Luwero project
Uganda Sanitation Heatth Advity
1,013,881
1,031,881
927
927
44,087
44,087
Inv8Stment incorne
Other income
1,357
4.889
1,361
4,889
Tfjtsl
1.021.054
44.091
1,065,145
Page 19

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- ￿ntInUed
Unr8slricted
lund
Restricted
fun¢s
Total
lunds
EXPEND￿uRE ON
Raising funds
Charltsble a¢tlvltles
Luwero project
Jin18 projeot
Operations and MaiThtenan￿ (Luukal
Uganda Sanhalion Health Actsvity
Other project a￿•S
25,000
25,0
377,$67
249.994
184,900
16,939
176,915
377,567
249.994
184.900
59.417
176,915
42,478
Totsl
1,031,315
42.478
1.073,793
NET INCOMEIIEXPENDITURE)
Transfer betwoen funds
110,2611
15,436
1,613
{15,436)
18,6481
RECONCILIATION OF FUNDS
Total funds brought folward
105,990
15,436
121,426
TOTAL FUNDS CARRIED FORWARD
111 165
1,813
112.778
13.
RESULTS OF PARENT CHARITABLE COMPANY
The total ineomtr of the par9nt chaiitable company was £734,945 and net deficSt was £28.693.
14.
TANGIBLE FIXED AssEfs- Group
Tools.
equipment & Office fumiture
machillery & equipm8nt Motor vehicles
Computer
equipment
TotsL
COST
At 1 April 2023
Addthons
Dlsposals
Exchange differences
32,467
463
13,406
119.598
14.423
179.894
463
2.0151
At 31 March 2024
13.245
14,014
177.499
DEPRECIATION
At 1 April 2023
Charge for year
27,357
833
11,202
321
80.785
9,283
12.005
626
131.349
11,063
Al 31 March 2024
11,523
90,068
12.631
142,412
NET BOOK VALUE
At 31 March 2024
4.467
1,722
27,515
1.383
35,087
At 31 March 2023
2,204
38.813
2.418
48,545
Paga 20

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THEYEAR ENDEO 31 MARCH 2024
14.
TANGIBLE FIXED ASSETS- Charlty
Induded Mlhin Motor vehKI85 above, 1$ motor vehides at a cts5t £53,22012023.' £53,2201, depreciation charg8 of
£7.20412023.. £9,605), ¢umulabve dep￿latIOn of £31.61012023.' £24,406) and net book value of £21,61012023.'
£28,814) rglating to the parent charity only.
1S.
SOCIAL INVESTMENTS- Group
PrL¥ramme
r818ted
invesbnents
Totsls
MARKET VALUE
At 1 April 2023
Exchange ¢Jifferences
25,653
1,2031
25,653
1.2031
At 31 March 2024
24,450
NET BOOK VALUE
At 31 March 2024
24.450
24,450
At 31 March 2024
25.853
The atrrt)ve progTamrne related investment represent5 frjnds leFtt to fjnance the constructh)n of ffush knlets and
venlilated impfOV8d lalrtnes IVIP latrfnosl.
16.
STOCKS- Group
2024
2023
Fini8hed goods
11.189
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR- Group and ¢harfty
Group
2024
Group
2023
Charity
2024
Charity
2023
Other debtors
24.991
7,330
24,991
7.330
CREDITORS: AMOUNTS FALLING DUE MTHIN ONE YEAR- Group and charlty
Group
2024
Group
2023
Charity
2024
Chailty
2023
Trade creditor5
Microfinance Revolvlng lund
Accruals and deferred incom8
Other cretlitor5
135,708
24.450
3,687
20,369
84,246
25,653
8,188
23,342
3,687
8,188
13,500
184,214
141.429
15.387
21.688
Page 21

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YE4R ENDED 31 f4lAR¢H 2024
19.
MOVEMENT IN FUNDS
Net movement
Transf8r
In funds bèiween fvnds
At 114123
At 3113r24
Unrestrl¢t*d furtds
General lund
111.165
157,615)
53,550
R•strlcted funds
Uganda Sanitation Health Activity
1.613
11,6131
1,613
11.6131
112.778
(59.228
53,550
Nel movement In fijnds, included In Ihe above are as follows=
Ir*coming
resources
Resourc8S
8XP8nd8d
Movement in
fvnds
Unrestrlcted funds
General lund
772.964
1830,579)
157,6151
Re$¢rl¢l¢d fvnds
Uganda Sanitatlon HeaHh Activity
11.6131
11.6131
TOTAL FUNDS
772.964
832.1921
59,22ei
ComparatFvg$ for movemenl in funds
Nèt rnOV8rnent
Transfer
in funds between furids
At 114122
At 311W23
Unre$trlcted funds
General fijnd
105,990
1102611
15,436
111,165
R05trieted funds
Kaliro project
Vganda Sanitstion Health Activity
15.436
115,4361
1.613
1.613
15.436
1.613
1,613
121.428
8,648
112.778
Comparauve nel rmvoment in funds. in¢luded in the above ar• as lotlow5'.
Incomlng
resources
Resourcès
expended
Movement in
tunds
Unrestrlctsd fvnds
General fund
1,021,054
(1,031,315)
110,2611
Restricted funds
Uganda Sanitation Health Actmty
44.091
142.4781
1,613
TOTAL FUNDS
1065,145
1073 793
8,648
Page 22

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
19.
MOVEMENT IN FUNDS- contlnued
During tha yèar to 31 Ma￿h 2024, tho group had th6 lolknwing r8Stricted fvnds..
U9anda San5tatJr)n Health A¢tlvlty
Funding was kindly ￿ceiVed from USAID to the Uganda Sanitslion Health Activity project. The principal acbvities
of th8 project are lo improve household sanitation and increase a¢ce5s lo sanitation products and $6rvices aThJ to
enhance school WASH standards, management. behaviours and practices in four schi)ols. The reThaining fund
balance was lully utilised during 2023-24.
Prior
ear on
Kallro proJtGt
Durfng 2016117 grant lunding of £24,437 was kindty received frorn the Ministry ol Water and Educallon to the
Kaliro projecl The purFX)se of the prqect is to promote rainwater haNesting at household, institutional and
communal levels U)rough revclving funds.. to train benef ciaries so they acqui￿ constwclion ¥kill3 and to monhor
the construction activlts'es.
A transfer of £15.436 was made from the restricted Kaliro project to the general fund. This transfer was made to
recbfy a previovs reporting error. Th8 timescale of delivery on the Kalirts proj8Ct was 2016 to 2019 with Ihe
requlred oulputs of the project delivered and sattsfled durfng that fjmo.
20.
RELATED PARTY DISCLOSURES
Durfng tho year the group received aggregate donalons of £1,82012023.. £8.4401 from trjstees.
Trusico Consult IUI Limrted Is th• company 8ntntsted wth the management of operallons for the Kalirts rainwatsr
harvesting prq'ect executed under 8 Mernor8ndum of Understanding. Trustco Consult IU) Limited shareholders
and staff are emJoyees ofThe 8usog8 Trust.
At 31 March 2024. 8 closing debtor balan￿ of £20,308 {2023.. £20.3081 due from Twstco ConsLtIt (UI Limited
was provided for In full.
21.
A14ALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
un￿s￿¢ted
funds
Restridtrd
funds
Total
Fund balances al 31 March 20Z4 ar•
represented by:
Tangible fixed assets
Programrne related inv83trnenls
Current assets
Cuirent liabil￿"e$
35.087
24.450
178.227
184,214
35,087
24,450
178,227
184 2141
53,550
53.550
Page 23

THE BUSOGA TRUST
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS . coKfiNUED
FOR THE YEAR ENDED 31 MARCH 2024
22.
SUBSIDIARY COMPANY
Canon Andrew Pears¢)n, a charity trusteè, 5$ 8180 a tnlstee of The Buso9a Trust, a non-govemmental
org8nisalion Iregistrathon number S5914130781 sn U92nda. All a¢livitle5 have been consolidat8d on a Ilne by lin8
basis Sn the SOFA.
A suffimary ofthe resEtJts of the subskliary Ibelore consolldation adjuslmentsl Is shown bèlLW.'
2024
2023
Income
Expend¢ture
691.079
733,533)
939,793
929.8561
Surplu3llDefi¢itl
42,4541
The aggregate of the assets. liabilities and funds was..
2024
2023
Assets
LlabililtOS
151,545
168.8281
149,230
119.7411
Funds
17 2831
29,489
Page 24