## **Report and Audited Financial Statements** 

## 31 December 2023 

Company no. 01872538 Charity no. 290836 




||Page|
|---|---|
|Reference and administrative information|1|
|Report of the Trustees|2|
|Auditor’s report|15|
|Statement of financial activities|19|
|Balance Sheet|20|
|Cash flow statement|21|
|Notes to the financial statements|22|





APT ACTION ON POVERTY (Company limited by guarantee no. 01872538, registered charity no. 290836) 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY For the year ended 31 December 2023 

|**Board of Trustees**|Trustees, who are also directors under company law, who|
|---|---|
||served during the year and up to the date of this report were|
||as follows:|
||Helen Altshul BSc MSc|
||Jake Bharier|
||Brian Capper BSc MA PhD Solicitor|
||Benjamin Cumming|
||David Elliot BSc MSc|
||Amber Honey|
|**Chief Executive**|Alex Daniels BSc MSc|
|**Company reg. no.**|01872538|
|**Charity reg. no.**|290836|
|**Registered Office**|111 Gloucester Road|
||Bishopston|
||Bristol|
||BS7 8AT|
|**Auditor**|Knox Cropper LLP|
||65 Leadenhall Street|
||London|
||EC3A 2AD|
|**Bankers**|Barclays Bank plc|
||128 High Street|
||Cheltenham|
||GL50 1EL|
||CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Maling|
||Kent ME19 4JQ|
||Virgin Money plc|
||Jubilee House|
||Gosforth|
||NE3 4PL|



1 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

The trustees are pleased to present their report and accounts for the year ended 31 December 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **Structure, governance and management** 

The company is limited by guarantee, was registered as a charity in 1985 and is governed by its Memorandum and Articles of Association. 

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the company’s aims and objectives and in planning future activities and are therefore confident that APT Action on Poverty (‘Action on Poverty’) meets the public benefit requirements. 

When considering the appointment of trustees the board give regard to the skills audit of existing trustees, the requirement for any specialist skills and ability to contribute to the charity’s governance and objectives. The key element of the trustee’s induction is to ensure sound understanding of the charity’s mission, principles and strategy as well as the legal obligations of trustees.  The induction process for new trustees involves a combination of provision of key documents plus communications and face to face discussions with the Chair of the trustees and the Chief Executive. New trustees are required to comply with company law requirements and declare any interests. 

The Chief Executive of Action on Poverty, Alex Daniels, is appointed by the trustees to manage the day-to-day operations of the charity and ensure the overall implementation of the organisational strategy as agreed by the trustees.  The Chief Executive and the Chair of the trustees communicate on a regular basis.  The team has continued to work remotely during 2023, meeting up one day a month as a team with some interim meetings between different staff members, which minimises overhead costs and enables work flexibility. 

## **Objectives and activities for the public benefit** 

## **Our Vision** : 

_A world where everyone can work with pride for a better future._ 

## **Our Mission** : 

_To work with people in East and West Africa to address barriers to safe and lasting work, hunger and injustice._ 

We aim to achieve our objectives through working with local partners to deliver programmes targeting specific sectors, communities and/or marginalised people. These programmes all have a livelihood focus (such as accessing employment, incomes through enterprise and/or increased food production) together with addressing inequalities and exclusion to secure sustainable and 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

transformational change. Key to our approach is being led by partners and communities to design programmes and activities in the countries in which we work, supporting and promoting local leadership. Through accessing the vital skills and resources people need to earn a living and address the root causes of their poverty, they can act as changemakers in their communities and countries to achieve equality for all. 

Our key strengths are our experience with: 

- Promoting livelihoods, including enterprise, decent work and food security; 

- Reaching people who are marginalised by society (such as women, young people, people with disabilities (PWD), and those in a fragile environment); and 

- Supporting the development and leadership of organisations – including our partners, CBOs (Community based Organisations) and other stakeholders. 

## **Achievements and performance** 

The impact of global events, conflicts and the cost of living has continued to be felt everywhere. In the some of the poorest communities where we work, inflation has soared.  Despite the increased needs, funding sources for civil society have been cut or continue in a reduced state. Economic and social impact and progress against Sustainable Development Goals has been affected including those which Action on Poverty is focused on: 1 (End Poverty), 2 (Zero Hunger), 

5 (Gender Equality) and 8 (Decent work). At the UN Commission for the Status of Women (CSW68) March 2024 they concluded “Globally, 10.3 per cent of women live in extreme poverty today and progress towards ending poverty needs to be 26 times faster to achieve the Sustainable Development Goals by 2030”. 

Despite the continued poor outlook and pressures on specialised INGOs (International NonGovernment Organisations) Action on Poverty has had some really positive achievements.  We have started three new projects during 2023: 

-  Working with communities to strengthen livelihoods and inclusive governance in Sierra Leone.  This is led by our partner MAPCO (Movement for Assistance and Promotion of Rural Communities) while Action on Poverty provides technical, monitoring and reporting support. 

-  Working with VEDCO (Volunteer Efforts for Development Concerns) on climate sensitive livelihoods with vegetable growing with refugee and host communities in Northern Uganda 

-  Working with PLA (Platform for Labour Action) on child labour in Uganda, building on lessons from previous work and extending to a new area. 

We continued to diversify funding – with new large Trusts and Foundations funding the above programmes as well as the European Union, and continued our first corporate partnership to implement a significant grant. Despite this, fundraising remains a challenge across all sectors and we are extremely grateful to all who support us – individuals, trusts, foundations, corporates and institutions. 

With our partners we have worked with over 34,000 beneficiaries directly during 2023 and over 10,500 have obtained the skills for sustainable livelihoods to secure enough food, medicines and education for themselves and their children, and a life with more respect and dignity.  Over 88,500 people have been supported through being better informed, empowered and or as dependants 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

of the direct beneficiaries. To extend the impact and to build for the future our work has also strengthened 92 grassroots organisations to become more effective in helping their members collaborate for increased incomes, obtain better services and/or to influence other stakeholders to ensure their needs are not excluded in the future. The completed project in Uganda funded by NORAD received a very complementary external evaluation. 

As can be seen in the programme information below we also continue to target inequalities inextricably linked with poverty – including those relating to gender, disability and young people. 

## **Performance of Programmes** 

## **Sierra Leone** 

## **Women Changemakers** (February 2022-January 2024) 

This project, funded by private donors, trusts and the Big Give Challenge, is being implemented with our partner MAPCO, and empowering women in eight communities of Pujehun District to make change and overcome poverty, including the most marginalised groups such as young women, women with disabilities and widows. Women Changemakers are accessing skills and support to lead on tackling these issues in their communities. The project was in the final stages at the end of 2023 and the impact is remarkable. Over 700 families (4200 people) are reporting improved nutrition and food security, and 580 women are reporting increased earning capacity from their involvement in vegetable growing and other skills development such as soap making. In addition, 330 women from the communities have improved their literacy and numeracy through attending classes, and 392 have a better understanding of the rights and are able to stand up for themselves and are less at risk of abuse. Eighty women have been trained in soap making, and this has resulted in their earned income nearly trebling since the project began. These and other business skills have significantly improved their quality of life for themselves and their families and improved their social standing in the community. 

## **Building Resilient Community Ecosystems in the Fight Against Child Labour** (January 2022- February 2025) 

Action on Poverty is partnering with Planting Naturals of the Netherlands (the lead partner), Goldtree Ltd Sierra Leone, and MAPCO to reduce the use of child labour by smallholder farmers of palm oil plots in Kailahun District. It is funded by the Netherlands Enterprise Agency, Child Labour Fund. The second phase began in late 2022, with community-based sessions to improve understanding of child rights, the importance of keeping children in school and of the harm caused by child labour with parents, children and stakeholders. Reduction of poverty levels by strengthening livelihoods activities, particularly for women, included setting up a community based revolving loan fund to provide access to credit, green gardens to supplement food production and consumption, and business and skills training for community members are progressing well. Goldtree and Planting Naturals are working on improving their due diligence procedures for reducing child labour. The results at the end of the first year have already shown a significant change in parents and community members attitude to child labour; child labour gangs are no longer allowed in the communities, and parents are not keeping their children from school to help with farm work, children are also no longer helping by carry heavy fruit bunches from the palm plots to the road for collection. The revolving loans and income generating activities have enabled palm oil farming families to hire the labour they need without resorting to using their younger children to carry out dangerous tasks. School attendance is increasing as a result. The project is working in 40 scattered communities in two Chiefdoms, with 1440 farming families. 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

**Strengthening CSOs as inclusive actors of good governance and development in Sierra Leone** (February 2023 – January 2026) 

This is a new project starting early in the year and funded by the European Union, with the Medicor Foundation and other private trusts and individuals providing critical matched funding to the EU, with a total budget of € 1,037,470 over 3 years.  Our long-term partner MAPCO is the lead partner, working together with MUWODA (Muloma Women’s Development Association) and Action on Poverty, in Pujehun and Kenema Districts to enable: 

-  4000 households (22,800 people) to have improved livelihoods and incomes by accessing livelihood services provided by a CSO. 

-  30 CSOs in eight chiefdoms to be inclusive actors of good governance and development, with improved management, technical capacity and sustainability 

-  Women, youth and people with disabilities to be included in decision-making and be represented in governance at community, chiefdom and district levels 

-  Civil society networks to be established and strengthened in eight chiefdoms for effective and inclusive policy dialogue and engagement in governance/development processes. 

The project will build on the CBO model used in MAPCO’s work, building their capacity to deliver services to their communities.  The project has made excellent progress in its first year, meeting all targets for Year 1. It has strengthened the management, governance and technical capacities of 20 CBOs and with some inputs to ten CSOs, also helping them to be more accountable to their members delivering six different services to 2757 households, including cash and seed loans to 2197 households (led by 65% women, 55% young people and 10.6% people with disabilities (PWD)), maintaining high levels of inclusion.  As a result of these services, household incomes have increased on average by 56.6% (from New Leone (N Le) 242.19 per month to N Le 379.30); before the project 32% of households ate 2 or more meals; at end of the first year 85% of households ate two or more meals. It has established apprenticeships with local artisans in each community, an example of which is given below: 

## GBONGAY COMMUNITY, PEJEH CHIEFDOM, PUJEHUN DISTRICT 


_Comments from participants:_ 

_“Gbongay community soap production and training centre is a model…. for upgrading [skills] of soap artisans in the sister chiefdoms… to meet training needs in their respective communities” said Keinie Amara (Artisan)._ 

_“Quality works attract customers and regular marketing put more money into the pockets of the artisan and trainees said Messie Kamara” (Soap trainee)._ 

_“I am now a contributor to household income though not regular and the rights I should enjoy as a woman in my marital home restored” said Betty Yajoh (Soap Trainee)._ 

Through EMAP (Engaging Men through Accountable Practice) training, sensitisation, networking and establishing eight Gender Chiefdom Committees, gender issues – including Sexual and Gender Based Violence - are beginning to be addressed.  Following training of members in local governance, accountability and advocacy skills the confidence of the CSOs has increased, engaging with governance and development processes, advocating and building agreements and long-term relationships.  The beginnings of networks supported by different mechanisms - such as Whatsapp groups – are improving 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

connections and information flows between rights holders, duty bearers and service providers. These will be built on in Year 2. 

The progress has been achieved despite very high inflation rates (noted at the end of the year as 55.8% on same month last year) and a short pause due to the election period.  The latter, in addition to a period when gatherings of large numbers were not advisable, causes delays whilst councillors and state representatives are elected and/or confirmed in post. 

## **Kenya** 

## **Improved Livelihoods and Resilience through Camel Milk** (1 April 2021- 31 March 2024) 

Camili III, a three-year project which began in April 2021, funded by the Medicor Foundation and other trusts including the Dulverton Trust and the Charles Hayward Foundation.  It is being run by SITE Enterprise Promotion (SITE) and Action on Poverty in the vast stretches of North Eastern Kenya between Garissa and Wajir: a culturally Somali part of the country that is arid, underserviced, and is still affected by the potential activity of Al Shabaab, a militant insurgent organisation based in Somalia. Being a traditionally pastoralist region, camels and other livestock – goats and a few cattle – are the backbone of the economy and livelihoods, and play a significant role in food security. 

Camili III seeks to build on the achievements of earlier work which achieved an average 45% increase in incomes for 3,060 camel milk traders (94% women), and greater food and income security for 38,000 households, and to expand the activities to Wajir County, which is within the same cultural, ecological and climatic context. The primary aim of the project is to improve the area’s Camel Milk value chain, including increasing the quantity and quality of camel milk, secure markets and develop sustainable livelihoods, increasing and stabilising financial incomes (particularly women’s) and food security. A particular focus are the primary and secondary traders of camel milk, who are mostly women. Other actors – herders, owners, transporters, and community water committees – are also reached with trainings and service provision. SITE chose 16 activity nodes to focus on six in Wajir South, seven in Garissa County, and three in Tana River area. These are nodes of pastoralist activity which contain over 12,000 client group households, camel milking areas, watering sources, and milk markets. 

2023 was a much better year climatically than 2022 and 2021, since the regional drought that started in 2020 lessened throughout the year, officially ending with the rains in October/November 2023, which were the first in years to not be classified as “depressed”. This meant milk volumes in all communities strongly rebounded during 2023, peaking towards the end of the year. Apart from the ameliorating weather, the two big sectoral dynamics this year have been improvements to water access points, and the entry of new actors within the growing market. 

With financial savings from the previous project year, SITE and APT renovated a rainwater reservoir at Dujis town. SITE also received separate funding from ILO to do the same at other locations (Awliya and Ohio). So far, these rainwater reservoirs are proving effective year-round water sources which complement existing borehole infrastructure and increase communities’ water security. The project’s final evaluation in early 2024 will assess the full extent of their usefulness and impact on communities. 

As the camel milk sector has grown, new market dynamics have emerged – especially new primary traders/transporters who are using motorbikes to follow camel herds into deep interiors, 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

to buy milk directly from herders, and then sell the milk to secondary traders or other transporters. These actors are side-stepping the traditional role of women primary traders, and means that, overall, the primary traders are not seeing expansions of their income/businesses linearly with market growth. However, this dynamic is by no means “replacing” woman primary traders, and overall, these motorbike traders’ income still ends up in the hands of camel herding communities. 

By the end of 2023, the project had increased the incomes of 2,755 primary and secondary milk traders (99.5% women), 474 milk transporters (37% women), 1801 herders (99.5% men), and 2,297 camel owners (20% women), for 7,327 people in total. A total of 12 water sources have been renovated and improved, with their committees trained on maintenance and management. 2690 milk traders report improved handing conditions. 862 people have accessed new employment in the sector, mostly being employed by secondary traders and transporters. Most critically, 4267 households improved their diet and nutrition due to increased availability of camel milk – a total of 29,869 people. 

## **Uganda** 

## **Eradicating Child Labour in Uganda** (April 2021 – December 2023) 

This project was funded by the Norwegian Agency for Development Cooperation (Norad) and completed in December 2023. Working with our partner Platform for Labour Action (PLA), the project contributed to eradicating child labour in Uganda, focusing on two regions where child labour is very common: Busoga sub-region and Greater Kampala Metropolitan Area. According to the external final evaluation report, the project has made a strong positive impact on reducing all forms of child labour in these regions. Over 62,000 people have received direct support to combat child labour, through outreach activities by community champions, livelihood skilling and educational support.  Awareness raising activities have reached over 800,000 people both within and outside the project area and there is clear evidence of changes in attitudes to child labour from all stakeholders – communities, government and the private sector. Many of the vulnerable people targeted by the project have changed the way they look at children from contributors to household income, to a population that needs protection and who ought to enjoy their childhood years. 

Through the project, 209 community champions were trained to spread messages on the dangers of child labour and to support families to keep their children in school. Their work was complemented by 217 child change agents working with their peers in schools.  By the end of 2023, 9,973 families had been reached by community champions and were taking positive steps to prevent the worst forms of child labour.  PLA also worked closely with duty bearers to build their capacity to combat child labour. 414 duty bearers (including social workers, police, labour officers and councillors) were trained and supported to implement improved practices to protect children. This included raising awareness on child rights and the dangers of child labour, following up on cases reported and negotiating with employers of children. Labour officers were specifically trained to carry out effective inspections of local businesses and were mentored by PLA staff in the course of this work. A monitoring study in June 2023 revealed that the majority (98.5%) reported utilizing the skills and knowledge gained from the training to raise awareness about the dangers of child labour, while 65.7% successfully withdrew children from engaging in child labour. Due to strengthened understanding of the issues, officials have also made significant commitments at district level: in September 2023 the Iganga District Government 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

adopted a child protection ordinance aimed at promoting a culture of child protection through locally contextualised actions and a similar ordinance for Bugiri district is also underway. 

The project exceeded its targets in terms of improved social protection for child labourers and their families. A total of 10,857 members of low-income families benefited from improved livelihoods such as in soapmaking, bakery and crafts. The final evaluation survey found that a total of 70.4% of those trained were currently deploying the entrepreneurship and livelihood skills acquired. Of these beneficiaries 78.7% attested to utilizing the increased income to take/keep children in school, and to provide for the family economically without requiring the children to complement family income. 

A total of 1001 children and young people, including 601 girls, who were previous child labour victims or children vulnerable to child labour, were identified and enrolled in school or vocational training according to their age, needs and situation, 600 in vocational training and 401 in school. Vocational training courses were conducted over a six-month period at accredited vocational training institutes, followed by national examinations and three-month internships at local businesses to enable trainees to put their skills into practice. At project end, 68.3% of the vocational trainees were in gainful employment related to their skilling, while others continue to seek full time work.  For children who were enrolled in school, the project supported them with school fees, materials and counselling – to enable them to concentrate on their studies rather 


than having to find work to fund the purchase of materials outside of school. At the project end, all children that had been supported remained in school. 

_**Nahia** is from Bulamagi sub-county, Iganga district. A community champion found Nahia in Bulamagi trading centre selling vegetables and had dropped out of school.  She introduced her to the project and she was enrolled at Nile vocational training_ 

_institute for a mechanics course, during which she learnt how to repair motor vehicles and assemble parts. Nahia says she chose this course because she wanted to be unique; to prove to her people that mechanics is not only for men and boys._ 

_Nahia is undertaking her internship at Nkono Garage, Iganga, where she works alongside experienced mechanics. She says she now gains respect from the community and her communication skills have improved. The garage owner said that Nahia is always willing to learn more, tries to develop new skills every day, committed to her tasks and does them diligently. He has promised to retain Nahia after her internship. Nahia is also committed to fighting child labour, raising awareness amongst young people and other community members. She has advised her friends to stop engaging themselves in child labour but instead look at other life changing skills like hairdressing, baking, mechanics among others._ 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

**Civic and Political Participation of Women Market Vendors in Kaliro and Lira Districts, Uganda** (1[st] February 2022 – 31[st] January 2024) 

Working together with our partner PLA (Platform for Labour Action), and funded by the Belgian Development Cooperation, this project directly targeted 4,000 market vendors (90% women) building their civic and political participation for improved management and administration of markets. It ensured that market women are empowered through transformative leadership skills, with the agency to influence decision-making at national, district and local levels; together with gaining increased economic empowerment and resilience. 

The project was near completion at the end of 2023 and has had a transformative effect on promoting the civic and political participation of market vendors.  This is seen in the increasing numbers of women elected to leadership positions, the successful lobbying of the market agencies for improvements to their working environment, and the increased incomes and security of the women who have participated in this project.  As stated in the final evaluation report ‘This project has created a seed of female leaders who have overcome the norms and beliefs that prevented them from taking up leadership, and … these will provide an example to other female vendors.’ 

The project has succeeded in training a core group of women market vendors in leadership skills and has brokered a working relationship between market vendors and local government leaders. All stakeholders involved in the final evaluation reported a positive expectation that this relationship will continue, and women leaders in Namwiwa and Kaliro reported that they have now gone through the process of building consensus around an issue and presenting it to the local government without the involvement of PLA. Over the life of the project, the women have seen improved conditions in their markets due to their lobbying and advocacy work: for example, the relocation of the abattoir in Namwiwa market which had made the market unsanitary; reduction of market dues in Kaliro Main market; in Omodo the market owner built new toilets and separated male and female facilities; while in Lira main market an outstanding electricity bill of 18 million shillings was settled by lobbying the District Woman MP who settled the bill and services were restored. 

In addition, women in all markets have worked together to empower themselves with practical skills to diversify their income and with business skills to improve the efficiency of their ventures. The peer to peer support encouraged by the project has led to increased access to capital for business development and improved incomes for 70% of market vendors. 

## **Business and Community Actions to Eliminate Child Labour in the Sugar and Rice Supply Chains in Uganda** (October 2023- March 2026) 

This project is funded by the EU and implemented in cooperation with Platform for Labour Action (PLA). The overall objective of the project is to reduce child labour in Eastern Uganda through strengthened civil society action. PLA will work with grassroots CSOs to build their capacity to hold businesses and duty bearers accountable in the sugar and rice supply chains. The project will strengthen the capacity of district officials and support them to develop ordinances at district level and will build constructive partnerships with businesses supporting them to adopt child rights principles.  It will work with vulnerable families to raise awareness of the dangers of child labour and develop alternative livelihoods strategies.  PLA will also provide direct legal aid to victims of child labour. 

The project completed its first quarter at the end of 2023. In this period, inception meetings were held in each of the three districts to explain the objectives to stakeholders and to choose the sub- 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

counties to be targeted.  A tool was developed for assessing the capacity of CSO partners and plans made for the baseline study.  Community champions were identified among who already play a significant role in the community (teachers, social workers, local leaders) and legal aid was provided to the first child labour victims. 

## **Improved livelihoods, climate resilience and natural resource protection for refugee and host farming communities, Northern Uganda** (September 2023 – December 2025) 

This project is being funded by Stiftung Drittes Millennium (Foundation for the Third Millennium), Guernsey OADC, EA Foundation, Peter Stebbings Memorial Charity, and other Trusts. It is being implemented in cooperation with Volunteer Efforts for Development Concerns (VEDCO), a Ugandan NGO. The project has the overall objective of improved livelihoods and climate resilience for refugee and host community farmers in Palabek Refugee Settlement through sustainable vegetable production and natural resource protection. It is doing this by supporting 40 farmer groups of 30 farmers each (1200 participants: 70% women, 70% refugees, 5% people with disabilities) to set up sustainable and climate-resilient vegetable farming businesses. 

The project completed its first quarter in 2023. This setup phase included inception meetings with stakeholders: the local government, the Ugandan Office of the Prime Minister, and the communities themselves. This was followed by the identification of 1206 beneficiaries, 77% of whom are female. Alongside this, a representative baseline survey was conducted. Core training on climate-smart agricultural techniques began, and 40 Group Marketing Officers were recruited to help connect each farmer group to market actors. 

## **Plans for the future** 

The global context continues to add an additional layer of challenges and increase the need for our work; to deliver sustainable, cost effective and transformative impact on livelihoods targeting people in East and West Africa who are marginalised through inequality.  We continue to catalyse change by proactively pushing a cross-cutting agenda of inclusive livelihoods amongst different stakeholders. 

We also continue to further develop our approaches to support the leadership and development of our partners.  Action on Poverty has been working with a community and partner-led approach for most of its existence, providing or sourcing skills which our partners seek and supporting our partners as they take on the lead partner roles with large institutional donors.  This year we have reached out to our partners to discuss their views and needs for ‘powershifting’ and to feed into our strategy. They are hugely supportive of our approach and value the relationship we have, and we will face the challenges of securing funding together. 

We will continue to diversify our range of income sources, steadily growing our supporter fundraising so that Action on Poverty not only covers its costs but can invest in strategic areas and programmes, whilst being led by our values. We will now focus on sustaining our success with Trusts and Foundations and matched appeals; deepening relationships with individuals; and enabling supporters to fundraise for us through unique challenges. 

10 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

## **Specific Objectives** 

In line with our vision and mission we will achieve impact through: 

- i. Delivering sustainable, cost effective and transformative economic and social impact with marginalised groups 

- ii. Supporting the development and leadership of local organisations. 

- iii. Catalysing change in behaviour of private sector (including micro to formal) for better development impact; to be a ‘mighty atom’ in our work[1] 

Secondly we will develop a sound financial platform by: 

- i. Securing funding from institutions and trusts to follow up earlier success and 

- ii. Building our supporter fundraising by strengthening individual relationships, building on matched appeals and developing unique challenges. 

We will also increase awareness of our approach and lessons learnt. 

Specific targets and activities have been set for the above and are monitored on a quarterly basis. 

## **Financial Review** 

As always the vast majority of our total expenditure of £811,523 has been on charitable activities in the year and sent out to our local project partner organisations who lead our projects with the communities they are designed to help.  Similarly, of the costs incurred in the UK, the vast majority was spent on programme management, with our staff overseeing and adding value to the projects and reporting back to our UK donors. 

During 2023 our unrestricted activities resulted in a small surplus of £9,737. This leaves unrestricted reserves of £294,431 (£224,431 plus £70,000) at the year-end which were in excess of our 6-12 month target range for unrestricted reserves.  This will ensure we are able to continue operating as a going concern throughout 2024 and designate part of these reserves (£70,000) to forward fund programmes when donor funding is paid in arrears.  Restricted reserves at the end of 2023 were £258,061. 

## **Reserves policy** 

Action on Poverty’s stated policy is to maintain a level of unrestricted reserves equivalent to 6- 12 months’ running costs. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.  In addition to this, due consideration needs to be given to the need for forward funding as indicated above. 

## **Investment policy** 

The trustees have the power to invest in such assets as they see fit but to date surplus unrestricted funds are held on low risk deposit to ensure ready availability. 

> 1 including systemic change, attitude change, influencing supply chains/key players, private sector etc 

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APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

## **Risk management** 

Action on Poverty takes very seriously the management of risk to which the charity is exposed particularly cash flow, recruitment, safeguarding and safety and security of staff travelling overseas. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to those risks. The risk register is an agenda item at each trustees’ meeting and policies and practices are reviewed on a regular basis to manage the safety and security of staff, develop best practice in safeguarding (including continuing to work with partners to improve policies and procedures), financial management and other management risks. 

## **Our approach to fundraising** 

Our supporters are key to everything we do. We are fully committed to being transparent and accountable about how our supporters’ donations are used.  At Action on Poverty we are hugely grateful to all our donors and focus on building long-lasting relationships based on trust and respect. We follow the Fundraising Regulator’s Code of Fundraising Practice. 

During the financial period ending December 2023 we did not use any professional fundraising organisations. Our fundraising is carried out by one person having fundraising and communications as their main role, supervised by the Chief Executive, and the support of an additional person on a graduate trainee programme during most of 2023. This has meant we have full control of and confidence in our fundraising practices.  We did not receive any complaints about our fundraising activities during the 2023 financial year. We keep up to date with changes to regulation, respond to consultations on this and update processes and practice as necessary to comply. We welcome feedback from supporters and proactively use it to improve and enhance our fundraising campaigns. 

## **Asset cover for funds** 

The trustees are satisfied that the charitable company’s assets and cash balances attributable to each of its individual funds are available and adequate to fulfil its obligations in relation to those funds. 

## **Trustees’ consideration of going concern basis of accounting** 

The trustees have considered the impact of global events and consequently the economy and sources of funding on the charity’s current and future financial position. We continue to be concerned about the impact not only on livelihoods, but on all Sustainable Development Goals in both the short and the long term in all the countries in which we work.  The greatest impact is likely to be on those who are already vulnerable and in the depth of poverty. However, we have been able to start new projects this year due to grants from the European Union governments and a number of Trusts and Foundations, which is very positive. 

No material uncertainties, apart from those mentioned above, that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the 

12 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

trustees.  The trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons: 

- The charity holds unrestricted, general reserves of £294,431 

- The charity’s current funders are continuing to fund the programmes in hand. 

The trustees therefore consider it appropriate to adopt the going concern basis for the preparation of the accounts as detailed in note 1(b) to the financial statements. 

## **Statement of responsibilities of the trustees** 

The trustees who are also directors of the 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 including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).  Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to: 

-  select suitable accounting policies and then apply them consistently; 

-  observe the methods and principles in the Charities Statement of Recommended Practice; 

-  make judgements and accounting estimates that are reasonable and prudent; 

-  state whether applicable UK accounting standards and statements of recommended practice have been followed subject to any material departures disclosed and explained in the financial statements; and 

-  prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

-  there is no relevant audit information of which the charitable company's auditors are unaware; and 

-  the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

13 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

REPORT OF THE TRUSTEES 

For the year ended 31 December 2023 

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Auditors** 

After a period of six years of auditing by Godfrey Wilson Limited it was agreed to go out to tender in the interests of good practice and reviewing value for money. After due process Knox Cropper LLP were appointed to audit these accounts for 2023. 

Approved by the trustees on 23 May 2024 and signed on their behalf by 

~~……………………~~ B S Capper (Jun 6, 2024 23:40 GMT+1)B S Capper …… 

Brian S. Capper BSc MA PhD 

Chair of Trustees 

## 23/05/24 

. 

14 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF APT ACTION ON POVERTY For the year ended 31 December 2023 

## **Opinion** 

We have audited the financial statements of APT Action on Poverty (the ‘charitable company’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, cash flow and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended; 

- • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 

15 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF APT ACTION ON POVERTY For the year ended 31 December 2023 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified any material misstatements in the directors’ report included within the trustees’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- • certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors 

16 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF APT ACTION ON POVERTY For the year ended 31 December 2023 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. 

- We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. 

- The audit team, which is experienced in the audit of charities, considered the charitable company’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. 

- Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

17 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF APT ACTION ON POVERTY For the year ended 31 December 2023 

## **Use of our report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006.  Our audit work has been undertaken, so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed. 


Simon Goodridge (Senior Statutory Auditor) 

For and on behalf of: 

**Knox Cropper LLP** Chartered Accountants & Statutory Auditors 65 Leadenhall Street London EC3A 2AD 

> Date: 13/06/24 

18 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) 

For the year ended 31 December 2023 

|Note<br>**INCOME FROM:**<br>Donations and legacies<br>2<br>Charitable activities<br>3<br>Other Income<br>Investments<br>**TOTAL**<br>**EXPENDITURE ON:**<br>Raising Funds<br>Charitable activities<br>**TOTAL EXPENDITURE**<br>5<br>Net income/(expenditure)<br>Transfer between funds<br>15<br>**NET MOVEMENT IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>TOTAL FUNDS AT 1 JANUARY 2023<br>**TOTAL FUNDS AT 31 DECEMBER 2023**|Restricted<br>Funds<br>2023<br> <br>£<br>55,734<br>789,829<br>-<br>-<br>845,563<br>-<br>720,358<br>720,358<br>125,205<br>(10,178)<br>115,027<br>143,034<br>**258,061**|Unrestricted<br>Funds<br>2023<br>£<br>58,823<br>26,582<br>1,655<br>3,664<br>90,724<br>74,400<br>16,765<br>91,165<br>(441)<br>10,178<br>9,737<br>284,694<br>**294,431**|Total<br>Funds<br>2023<br>£<br>114,557<br>816,411<br>1,655<br>3,664<br>936,287<br>74,400<br>737,123<br>811,523<br>124,764<br>-<br>124,764<br>427,728<br>**552,492**|Total<br>Funds<br>2022<br>£<br>134,261<br>671,356<br>-<br>2,150|
|---|---|---|---|---|
|||||807,767|
|||||81,244<br>868,855|
|||||950,099|
|||||(142,332)<br>-|
|||||(142,332)<br>570,060|
|||||**427,728**|



All income and expenditure has arisen from continuing activities. 

Pages 22 to 35 include the Notes to these accounts. 

19 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## BALANCE SHEET 

For the year ended 31 December 2023 

|Notes<br>**NON-CURRENT ASSETS**<br>Tangible Fixed Assets<br>10<br>**CURRENT ASSETS**<br>Debtors<br>11<br>Current Asset Investments<br>12<br>Cash at bank and in hand<br>CREDITORS: amounts falling<br>due within one year<br>13<br>NET CURRENT ASSETS<br>NET ASSETS<br>FUNDS<br>Unrestricted funds:<br>Designated funds<br>15<br>General fund<br>15<br>Restricted funds<br>15|**2023**<br>**£**<br>547<br>4,423<br>64,886<br>497,905<br>567,214<br>(15,269)<br>551,945<br>552,492<br>70,000<br>224,431<br>258,061<br>552,492|**2022**<br>**£**<br>210<br>119,344<br>64,885<br>258,693|
|---|---|---|
|||442,922<br>(15,404)|
|||427,518|
||||
|||427,728|
|||70,000<br>214,694<br>143,034|
|||427,728|



The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and the Financial Reporting Standard 102. 

Pages 22 to 35 include the Notes to these accounts. 

The financial statements were approved and authorised for issue by the Board of Trustees and signed on their behalf by:- 

B S Capper B S Capper (Jun 6, 2024 23:40 GMT+1) 

Brian S. Capper BSc MA PhD 

Chair of Trustees 

Date 23/05/24 

Registered Company Number: 04046959 

20 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## CASHFLOW STATEMENT 

For the year ended 31 December 2023 

|Cash flows from operating activities<br>Surplus/(deficit) for the financial year<br>Adjustments for:<br>Depreciation Charge<br>Dividends, interest and rents from investments<br>(Increase)/Decrease in debtors<br>Increase/(Decrease) in creditors<br>Cash flows from investing activities<br>Dividends, interest and rents from investments<br>Purchase of fixed assets<br>**Net increase/(decrease) in cash and cash**<br>**equivalents**<br>Cash and cash equivalents at 1 January 2023<br>**A**<br>Cash and cash equivalents at 31 December 2023<br>**A**<br>**A) Components of cash and cash equivalents**<br>Current asset investments<br>Cash at bank and in hand|**2023**<br>**£**<br>124,764<br>242<br>(1,655)<br>114,921<br>(135)<br>238,137<br>1,655<br>(579)<br>1,076<br>239,213<br>323,578<br>562,791<br>64,886<br>497,905<br>562,791|**2022**<br>**£**<br>(142,332)<br>472<br>(2,150)<br>(67,862)<br>(243)|
|---|---|---|
|||(212,115)<br>2,150|
|||2,150|
|||(209,965)<br>533,543|
|||323,578|
|||64,885<br>258,693|
|||323,578|



## **B) Analysis of changes in net debt** 

The charity has not provided an analysis of changes in net debt as it does not have any longterm financing arrangements. 

21 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **1. ACCOUNTING POLICIES** 

## _Basis of preparation of financial statements_ 

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention.  They have been prepared in accordance with applicable United Kingdom accounting standards, the requirements of the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP FRS 102 second edition), in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006. 

## _Going concern_ 

The trustees have considered the impact of global events and consequently the economy and sources of funding on the charity’s current and future financial position. They have concluded that there are no material uncertainties about the ability of the charity to continue as a going concern and consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. 

## _Incoming resources_ 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

## _Interest Receivable_ 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank. 

## _Funds accounting_ 

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. 

## _Expenditure and irrecoverable VAT_ 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

22 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 

## _Allocation of support and governance costs_ 

Support and governance costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the following basis, which is an estimate of staff time spent on each activity: 

||**2023**|**2022**|
|---|---|---|
|Raising funds|28.0%|32.7%|
|Charitable activities|72.0%|67.3%|



## _Fixed assets and depreciation_ 

Depreciation is provided on all fixed assets at rates calculated to write off the cost on a straight-line basis over their expected economic life as follows: 

- Plant and machinery – 5 years 

- Fixtures, fittings and equipment – 2 - 5 years 

## _Debtors_ 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## _Current asset investments_ 

Current asset investments consist of cash held on short term deposit. 

## _Cash at bank and in hand_ 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## _Creditors_ 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## _Financial instruments_ 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method. 

23 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## _Pension costs_ 

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the statement of financial activities. 

## _Foreign currency transactions_ 

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. 

## _Accounting estimates and key judgements_ 

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.  The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

There are no sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements. 

## **2. Income from donations and legacies** 

|Trusts and foundations<br>Donations and other fundraising<br>Gift aid<br>Total 2023<br>Total 2022|Restricted<br>Funds<br>2023<br> <br>£<br>16,950<br>38,784<br>-<br>55,734<br>78,419|Unrestricted<br>Funds<br>2023<br>£<br>13,990<br>41,888<br>2,945<br>58,823<br>55,842|Total<br>Funds<br>2023<br>£<br>30,940<br>80,672<br>2,945<br>114,557<br>134,261|Total<br>Funds<br>2022<br>£<br>13,700<br>117,548<br>3,013|
|---|---|---|---|---|
|||||134,261|
||||||



24 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **3. Income from charitable activities** 

|_Project grants from institutional donors_<br>Norwegian<br>Agency<br>for<br>Development<br>Cooperation<br>Netherlands Enterprise Agency<br>Belgian Government<br>Medicor Foundation<br>National Lottery Community Fund<br>Foreign, Commonwealth & Development<br>Office<br>Turing Foundation<br>European Commission<br>Dulverton Trust<br>States of Guernsey<br>_Consultancy fees_<br>Total 2023<br>Total 2022|Restricted<br>Funds<br>2023<br> <br>£<br>191,584<br>117,865<br>86,322<br>131,986<br>-<br>-<br>-<br>204,044<br>35,000<br>23,028<br>- <br>789,829<br> <br>635,523|Unrestricted<br>Funds<br>2023<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>26,582<br>26,582<br>35,833|Total<br>Funds<br>2023<br>£<br>191,584<br>117,865<br>86,322<br>131,986<br>-<br>-<br>-<br>204,044<br>35,000<br>23,028<br>26,582<br>816,411<br>671,356|Total<br>Funds<br>2022<br>£<br>265,428<br>222,729<br>80,000<br>49,708<br>10,000<br>7,658<br>-<br>-<br>-<br>35,833|
|---|---|---|---|---|
|||||671,356|
||||||



## **4. Government grants** 

The charitable company receives government grants, defined as funding from the Foreign, Commonwealth & Development Office, European Commission, the Norwegian Agency for Development Cooperation, Netherlands Enterprise Agency, States of Guernsey and the Belgian Government to fund charitable activities. The total value of such grants in the period ending 31 December 2023 was £622,843 (2022: £547,865). There are no unfulfilled conditions or contingencies attaching to these grants. 

25 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **5. Total expenditure** 

|**. Total expenditure**||||
|---|---|---|---|
|Staff costs (note 8)<br>Other costs<br>Audit and accountancy fees<br>Depreciation<br>Grants payable to partners (note 7)<br>Publicity and fundraising costs<br>Sub-total<br>Allocation of support and<br>governance costs<br>Total Expenditure 2023|Raising<br>funds<br>57,925<br>-<br>-<br>-<br>-<br>2,971<br>60,895<br>13,505<br>74,400|Charitable<br>activities<br>Support and<br>governance<br>costs<br>£<br>£<br>148,742<br>14,177<br> <br>40,174<br>26,574<br>-<br>7,191<br>-<br>241<br>513,528<br>-<br> <br>-<br>-<br>702,445<br>48,183<br> <br>34,678<br>(48,183)<br>737,123<br>-<br>|Total<br>2023<br>£<br>220,844<br>66,748<br>7,191<br>241<br>513,528<br>2,971|
||||811,523<br>-|
||||811,523|



Total governance costs were £7,191 (2022: £6,360). 

## **Total expenditure – comparative** 

|Staff costs (note 8)<br>Other costs<br>Audit and accountancy fees<br>Depreciation<br>Grants payable to partners (note 7)<br>Publicity and fundraising costs<br>Sub-total<br>Allocation of support and<br>governance costs<br>Total Expenditure 2023|Raising<br>funds<br>56,737<br>-<br>-<br>-<br>-<br>1,690<br>58,427<br>22,817<br>81,244|Charitable<br>activities<br>Support and<br>governance<br>costs<br>£<br>£<br>116,630<br>23,907<br> <br>19,878<br>39,899<br>-<br>5,441<br>-<br>472<br>685,272<br>-<br> <br>173<br>-<br>821,953<br>69,719<br> <br>46,902<br>(69,719)<br>868,855<br>-<br>|Total<br>2022<br>£|
|---|---|---|---|
||||197,274<br>59,777<br>5,441<br>472<br>685,272<br>1,863|
||||950,099<br>-|
||||950,099|



26 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **6. Net movement in funds** 

This is stated after charging: 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Depreciation|**242**|472|
|Trustees’ remuneration|**-**|-|
|Trustees’ reimbursed expenses|**-**|-|
|Trustees’ donations|**1,010**|1,432|
|Auditors’ remuneration|||
|Statutory audit (including VAT)|**6,780**|6,360|
|Other services (grant audits)|**411**|-|



## **7. Grants payable** 

|_Grants paid to partner organisations_<br>Platform for Labour Action<br>SITE Enterprise Promotion<br>Movement for Assistance and Promotion of Rural Communities<br>Tusonge Community Development Organization<br>Community Action for Rural Development<br>Volunteers’ Effort for Development Concern<br>Other|**2023**<br>**£**<br>**249,826**<br>**88,328**<br>**147,237**<br>**-**<br>**-**<br>**22,921**<br>**5,216**<br>**513,528**|2022<br>£<br>456,625<br>107,994<br>84,476<br>35,280<br>897<br>-<br>-|
|---|---|---|
|||685,272|



Grants payable are to institutions in Sierra Leone, Uganda, Kenya and Tanzania.  All grants are paid to fund charitable activities, including funding to support strengthening of community based organisations, livelihood development, food security and inclusion of women and people with disabilities and specific programmes in camel milk production, tackling child labour, and supporting women market vendors.  The grants shown above do not include any contribution to core costs. 

## **8. Staff costs and numbers** 

Staff costs were as follows: 

|Wages and salaries<br>Social security costs<br>Pension costs|**Total**<br>**2023**<br>**£**<br>**193,171**<br>**17,310**<br>**10,363**<br>**220,844**|Total<br>2022<br>£<br>176,463<br>10,574<br>10,237|
|---|---|---|
|||197,274|



No employee earned more than £60,000 during the year (2022: none). 

The key management personnel of the charitable company comprise the trustees and chief executive.  The total employee benefits of the key management personnel were £56,706 (2022: £52,677). 

27 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

The average weekly number of employees during the period was: 

||**Number**|Number|
|---|---|---|
||**2023**|2022|
|Employees|**6.83**|6.42|



## **9. Taxation** 

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

28 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **10. Tangible fixed assets** 

|**10. Tangible fixed assets**||||
|---|---|---|---|
|**Cost**<br>As at 1stJanuary 2023<br>Additions<br>Disposals<br>As at 31stDecember 2023<br>**Depreciation**<br>As at 1stJanuary 2023<br>Charge in the Year<br>Disposals<br>As at 31stDecember 2023<br>**NBV as at 31st December 2023**<br>NBV as at 31stDecember 2022<br>**11. Debtors**<br>Prepayments and Accrued Income<br>Other debtors<br>**12. Current asset investments**<br>Cash held on deposit<br>**13. Creditors: amounts due within 1 year**<br>Accruals<br>Social security and other taxes<br>Other creditors|Plant and<br>machinery<br>1,299<br>-<br>(1,299)<br>-<br>1,299<br>-<br>(1,299)<br>-<br>-<br>-|Fixtures,<br>fittings<br>and<br>equipment<br>£<br>6,228<br>579<br>(4,053)<br>2,754<br>6,018<br>242<br>(4,053)<br>2,207<br>547<br>210<br>**2023**<br>**£**<br>**4,423**<br>**-**<br>**4,423**<br>**2023**<br>**£**<br>**64,886**<br>**64,886**<br>**2023**<br>**£**<br>**10,846**<br>**4,912**<br>**(489)**<br>**15,269**|Total<br>2023<br>£<br>7,527<br>579<br>(5,352)|
||||2,754<br>7,317<br>242<br>(5,352)|
||||2,207|
||||547|
||||210|
||||2022<br>£<br>10,317<br>109,027|
||||119,344|
||||2022<br>£<br>64,885|
||||64,885|
||||2022<br>£<br>9,205<br>4,157<br>2,042|
||||15,404|



29 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **14. Analysis of net assets between funds** 

|Restricted<br>Funds<br>Designated<br>Funds<br>£<br>£<br>Tangible fixed assets<br>-<br>-<br>Net current assets<br>258,061<br>70,000<br>258,061<br>70,000<br>**Analysis of net assets between funds - comparative**<br>Restricted<br>Funds<br>Designated<br>Funds<br>£<br>£<br>Tangible fixed assets<br>-<br>-<br>Net current assets<br>143,034<br>70,000<br>143,034<br>70,000|General<br>Funds<br>£<br>547<br>223,884<br>224,431<br>General<br>Funds<br>£<br>210<br>214,484<br>214,694|**Total**<br>**Funds**<br>**2023**<br>**£**<br>**547**<br>**551,945**|
|---|---|---|
|||**552,492**|
|||Total<br>Funds<br>2022<br>£<br>210<br>427,518|
|||427,728|



30 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **15. Movement in funds** 

|**Restricted funds**<br>_Sierra Leone_: Livelihoods and<br>food security for vulnerable people<br>_Sierra Leone_: Enhancing CSO<br>capacity<br>_Kenya_<br>_and_<br>_Uganda_:<br>Strengthening the implementation<br>of the CRPD with Women with<br>Disabilities<br>_Sierra Leone_: Empowering local<br>communities in Pujehun District<br>_Tanzania_:<br>Disability<br>inclusive<br>VICOBA<br>_Kenya_: Camel milk project<br>_Uganda_:<br>Eradication<br>of<br>child<br>labour<br>_Sierra_<br>_Leone_:<br>Women<br>make<br>change<br>_Uganda_: Market vendors<br>_Sierra Leone_: Fight against child<br>labour<br>_Sierra_<br>_Leone_:<br>CSO<br>Capacity<br>Building<br>_Uganda_: Vegetable farming<br>_Uganda_:  Child Labour<br>Country-specific funding<br>**Total Restricted funds**<br>**Unrestricted funds**<br>_Designated funds_<br>Forward fund<br>**_Total Designated funds_**<br>_General Funds_<br>**_Total General funds_**<br>**Total Unrestricted funds**<br>**Total funds**|**At 1**<br>**January**<br>**2023**<br>**£**<br>-<br>-<br>-<br>10,178<br>-<br>47,528<br>2,519<br>29,724<br>(3,650)<br>43,308<br>-<br>6,000<br>-<br>7,427<br>**143,034**<br>70,000<br>**70,000**<br> <br>214,694<br>**214,694**<br>**284,694**<br> <br>**427,728**|**Incoming**<br>**Resources**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>115,000<br>191,584<br>1,833<br>86,322<br>121,865<br>72,686<br>48,229<br>205,044<br>3,000<br>**845,563**<br>- <br>**- **<br> <br>90,724<br>**90,724**<br>**90,724**<br> <br>**936,287**|**Resources**<br>**Expended**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>(115,314)<br>(196,099)<br>(28,090)<br>(98,427)<br>(179,393)<br>(23,479)<br>(27,645)<br>(51,911)<br>-<br>**(720,358)**<br>- <br>**- **<br> <br>(91,165)<br>**(91,165)**<br>**(91,165)**<br> <br>**(811,523)**|**Transfers**<br>**between**<br>**funds**<br>**£**<br>-<br>-<br>-<br>(10,178)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**(10,178)**<br>- <br>**- **<br> <br>10,178<br>**10,178**<br>**10,178**<br> <br>**- **|**At 31**<br>**December**<br>**2023**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>47,214<br>(1,996)<br>3,467<br>(15,755)<br>(14,220)<br>49,207<br>26,584<br>153,133<br>10,427|
|---|---|---|---|---|---|
||||||**258,061**|
||||||70,000|
||||||**70,000**|
|||||||
||||||224,431|
||||||**224,431**|
||||||**294,431**|
|||||||
||||||**552,492**|



## **Purposes of restricted funds** 

_Sierra Leone_ : Livelihoods and food security for vulnerable people 

Reducing the poverty and malnutrition of people in rural households through community organisations. 

_Sierra Leone_ : Enhancing CSO capacity Strengthening 45 civil society organisations to empower women, and 

_Kenya and Uganda_ : Strengthening the implementation of the CRPD with Women with Disabilities _Sierra Leone_ : Empowering local communities in Pujehun District 

provide gender, literacy, business skills and apprenticeship training. Supporting partner SITE in helping women with disabilities in Kenya and Uganda to understand and access their rights and to improve their inclusion in livelihoods. 

Building the capacity of community structures, including 19 community-based organisations to provide livelihoods services, rights awareness and income generation and improved governance. 

31 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

_Tanzania_ : Disability inclusive VICOBA Establishing community banking groups and providing financial management, business and vocational training to vulnerable women and people living with disabilities. _Kenya_ : Camel milk project Providing skills and hygiene training in new areas throughout the entire Camel Milk supply chain to improve productivity and produce standards. _Uganda_ : Eradication of child labour Enabling over 12,000 families to be more resilient to child labour, improving incomes and access to skills, and establishing a child free zone in UMA Industrial Park. _Sierra Leone_ : Women make change Supporting the leadership of marginalised women including training on vegetable growing, soap production, functional literacy and community seed banks. _Uganda_ : Market vendors Civic and political participation of Women Market Vendors in Kaliro and Lira Districts. _Sierra Leone_ : Fight against child labour Building resilient community ecosystems in the Fight Against Child Labour. _Sierra Leone_ : CSO Capacity Building _Strengthening 30 CSOs as inclusive actors of good governance and poverty reduction reaching 4000 households in Sierra Leone Uganda_ : Vegetable farming Improving incomes and climate resilience of 7,200 people in Lamwo District through vegetable farming businesses. _Uganda_ :  Child Labour _Business and Community Actions to Eliminate Child Labour in the Sugar and Rice Supply Chains in Uganda, increasing understanding with 2400 households and 60 commercial actors taking action_ Country-specific funding Funds raised to provide help in Tanzania, Sri Lanka, Uganda and Sierra Leone on future project opportunities. 

## **Purpose of designated funds** 

Forward fund To forward fund projects when necessary and carry expenditure in advance of receipt of donation income. 

## **Restricted funds in deficit** 

Restricted funds in deficit represent on-going projects where additional funding is confirmed post year end. 

## **Transfers between funds** 

Transfers between funds represent the use of general funds to complete the project at the conclusion of work. 

32 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **Movement in funds - comparative** 

|**Restricted funds**<br>_Sierra Leone_: Livelihoods<br>and<br>food<br>security<br>for<br>vulnerable people<br>_Sierra Leone_: Enhancing<br>CSO capacity<br>_Kenya_<br>_and_<br>_Uganda_:<br>Strengthening<br>the<br>implementation<br>of<br>the<br>CRPD with Women with<br>Disabilities<br>_Sierra Leone_: Empowering<br>local<br>communities<br>in<br>Pujehun District<br>_Tanzania_:<br>Disability<br>inclusive VICOBA<br>_Kenya_: Camel milk project<br>_Uganda_:<br>Eradication<br>of<br>child labour<br>_Sierra_<br>_Leone_:<br>Women<br>make change<br>_Uganda_: Market vendors<br>_Sierra Leone_: Fight against<br>child labour<br>_Uganda_: Vegetable farming<br>Country-specific funding<br>**Total Restricted funds**<br>**Unrestricted funds**<br>_Designated funds_<br>Forward fund<br>_Total Designated funds_<br>General Funds<br>**Total**<br>**Unrestricted**<br>**funds**<br>**Total funds**|**At 1**<br>**January**<br>**2022**<br>**£**<br>-<br>-<br>207<br>28,800<br>12,277<br>65,153<br>131,968<br>35,468<br>-<br>-<br>-<br>5,427<br>**279,300**<br>70,000<br>70,000<br> <br>220,760<br> <br>**290,760**<br> <br>**570,060**|**Incoming**<br>**Resources**<br>**£**<br>10,000<br>3,180<br>-<br>4.255<br>49,708<br>115,000<br>275,803<br>18,263<br>124,527<br>105,206<br>6,000<br>2,000<br>**713,942**<br>- <br>- <br> <br>93,825<br> <br>**93,825**<br> <br>**807,767**|**Resources**<br>**Expended**<br>**£**<br>(10,000)<br>(5,232)<br>(207)<br>(22,877)<br>(66,295)<br>(132,625)<br>(405,252)<br>(24,007)<br>(128,177)<br>(61,898)<br>-<br>-<br>**(856,570)**<br>- <br>- <br> <br>(93,529)<br> <br>**(93,529)**<br> <br>**(950,099)**|**Transfers**<br>**between**<br>**funds**<br>**£**<br>-<br>2,052<br>-<br>-<br>4,310<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**6,362**<br>- <br>- <br> <br>(6,362)<br> <br>**(6,362)**<br> <br>**- **|**At 31**<br>**December**<br>**2022**<br>**£**<br>-<br>-<br>-<br>10,178<br>-<br>47,528<br>2,519<br>29,724<br>(3,650)<br>43,308<br>6,000<br>7,427|
|---|---|---|---|---|---|
||||||**143,034**|
||||||70,000|
||||||70,000|
|||||||
||||||214,694|
|||||||
||||||**284,694**|
|||||||
||||||**427,728**|



33 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 

## **16. Related party transactions** 

There are no related party transactions to disclose in the current or previous reporting period. 

34 



APT ACTION ON POVERTY (Company no. 01872538, registered charity no. 290836) 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2023 

## **17.** COMPARATIVE STATEMENT OF FINANCIAL ACTIVITY 

|**Income from:**<br>Donations and legacies<br>Charitable activities<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>Net income/(expenditure)<br>Transfer between funds<br>**NET MOVEMENT IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>TOTAL FUNDS AT 1 JANUARY<br>2022<br>**TOTAL FUNDS AT 31 DECEMBER**<br>**2022**|Restricted<br>Funds<br>2022<br> <br>£<br>78,419<br>635,523<br>-<br>713,942<br>7,160<br>849,410<br>856,570<br>(142,628)<br>6,362<br>(136,266)<br>279,300<br>**143,034**|Unrestricted<br>Funds<br>2022<br>£<br>55,842<br>35,833<br>2,150<br>93,825<br>74,084<br>19,445<br>93,529<br>296<br>(6,362)<br>(6,066)<br>290,760<br>**284,694**|Total<br>Funds<br>2022<br>£<br>134,261<br>671,356<br>2,150|
|---|---|---|---|
||||807,767|
||||81,244<br>868,855|
||||950,099|
||||(142,332)<br>-|
||||(142,332)<br>570,060|
||||**427,728**|



35