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2022-03-31-accounts

CONTENTS Page
Company
information
Trustees'
report
Auditors'
report		 14
Statement offinancial activities 18
Balance sheet 19
Statement ofCash Flows 20
Notes to the Financial Statements 21

Trustee Street Child
Charity number 298316
Company number 2200793
Registered office g 33Creechurch
Lane,
principal address London
EC3A SEB
Auditors Moore Kingston
Smith		 LLP
Chartered
Accountants
9Appold Street
London
EC2A 2AP
Bankers National
Westminster		 Bank pic
19Mount
Ephraim
Road
Tunbridge
Wells, Kent,		 TN1 1EN

FOR THE YEAR ENDED 31MARCH 2022 FOR THE YEAR ENDED 31MARCH 2022 FOR THE YEAR ENDED 31MARCH 2022
Unrestricted Restricted Total Total
Funds Funds 2022 2021
Notes
Income from:
Donations 8 Legacies 513,145 175,782 688,927 840,658
Totallncome 513,145 175,782 688,927 840,658
Expenditure
On:
Raising funds 16,107 16,107 105,829
Charitable
activities		 6,027 458,259 464,286 727,605
Total Expenditure 22,134 458,259 480,393 833,434
Net income/(expenditure) 491,011 (282,477) 208,533 7,224
Foreign exchange
gain /(loss)		 327 327 (5,951)
Transfers
between		 funds (1,788) 1,788
Net income/(expenditure) for the year 489,550 (280,689) 208,861 1,273
and net movement in funds
Total funds brought forward 14 (210,709) 332,879 122,170 120,897
Total funds carried forward 14 278,841 52,190 331,031 122,170
2022 2021
Notes
Current assets
Debtors 183,664 36,292
Cash at bank and in hand 177,254 143,165
360,918 179,457
Creditors: amounts falling
due within one year (29,887) (57,287)
Net current assets 331,031 122,170
Total assets less current liabilities 331,031 122,170
Funds
Restricted
funds		 10 52,190 332,879
Unrestricted funds 278,841 (210,709)
331,031 122,170

2022 2021
Net cash (outflow)/inflow from operating activities 33,762 (162,270)
Cash flows from Investing Activities
Purchase offixed assets (927)
Foreign exchange
loss		 327 (5,951)
Net cash used in investing activities 327 (6,878)
(Decrease)/Increase
in cash and		 cash equivalents 34,089 (169,148)
Cash and cash equivalents at the beginning ofthe period 143,165 312,313
Cash and cash equivalents at the end ofthe period 177,254 143,165
RECONCILIATION
OF NET MOVEMENT		 IN FUNDS TO NET CASH INFLOW FROM OPERATING ACTIVITIES
2022 2021
E E
Net Movement
in Funds		 208,861 1,273
Add back depreciation
charge		 934
Loss/(Gains)
on disposal of		 fixed assets 10,548
Losses on foreign exchange (327) 5,951
Decrease
in debtors		 (147,372) 55,611
(Decrease)/Increase
in creditors		 (27,400) (236,587)
Net Cash outflow from operating activities 33,762 (162,270)
2022 2021
Analysis ofcash and cash equivalents and net debt
Opening
balance		 143,165 312,313
Cash-Flows 34,089 (169,148)
Closing balance 177,254 143,165

1. ACCOUNTING
POLICIES		 ACCOUNTING
POLICIES
The principal
accounting
policies adopted, judgements
and key sources ofestimation
uncertainty
in the preparation
ofthe
financial statements
are as follows:
a) Basis of preparation
The financial statements
have been prepared
in accordance with 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
(FRS102)(effective 1January
2015) —(Charities SORP (FRS102)including
Update
Bulletin 2),the Financial Reporting
Standard
applicable
in the UK and Republic		 of Ireland
(FRS102)and the
Companies
Act 2006.
Build Africa meets the definition
ofa public benefit entity under
FRS102.Assets and liabilities are initially
recognised
at historical		 cost or transaction value unless
otherwise
stated
in the relevant accounting
policy note(s).
The Charity
is a company
limited
by guarantee,
incorporated
in England
and Wales (company
number: 2200793) and a		 charity registered
in England		 and Wales
(charity number: 298316).The Charity's
registered
office address is:33Creechurch
Lane, London,
EC3A SEB.
b) Preparation
ofaccounts on a going concern basis
The charity started the year with negative
unrestricted
reserves ofE210,710at 31March 2021and closed with positive reserves ofE278,841. The Trustees have
assessed whether the use ofthe going concern basis is appropriate
and have considered
possible events or conditions		 that might cast significant
doubt on the
ability ofthe charity to continue
as a going concern.
The Trustees have made this assessment
for a period ofat least one year from the date ofapproval ofthe financial statements.
In assessing whether
Build Africa is a going concern, the Trustees have also considered
the reserves ofthe Street Child		 charitable group, ofwhich the charity is a
wholly owned subsidiary.
The trustees
have considered the group forecasts and projections and have taken account ofpressures		 on donation
and grant income
and cash flow for 12months
from the date ofapproval
ofthe financial statements,
the associated assumptions
that under-pin
it,		 the pipeline of new income and
the steps that could be taken to reduce expenditure
should this be necessary.
The Trustees are satisfied that the group has sufficient resources to continue
in operational
existence for the foreseeable future. The group
is largely		 sheltered
from the expected effects ofthe pandemic
due to its loyal donor base and a significant
grant pipeline,
although
some events have been curtailed
as		 a result ofthe
restriction
on travel.
Annual
budgets
have been revised taking this into account with prudent
figures for both income		 and expenditure
and the charity holds
significant
reserves and has liquid assets in the form ofcash held in short term deposits.
The Trustees have concluded
that with the reserves
policy and cash liquidity
requirements
ofthe charity together
with		 the commitment
ofsupport		 received from
Street Child, the ultimate
controlling
party, there are no material
uncertainties
astothe charity's
ability to continue
in		 operational existence for the foreseeable
future.
The Trustees have received written
assurance
from the Board ofStreet Child that they will continue to provide financial
support to Build Africa to enable itto
meet its liabilities
as they fall due for a period oftwelve months from the date ofapproval ofthese financial statements		 and will not seek repayment ofamounts
owed to Street Child unless the charitable
company's
cash flow permits this.
The charity therefore continues to adopt the going concern basis in preparing
its financial statements.
c) Income
All income is recognised
when there is entitlement
to the funds, the receipt is probable
and the amount
can be measured
reliably.
Legacies are recognised
following
probate and once there is sufficient evidence that receipt is probable
and the amount ofthe legacy receivable		 can be measured
reliably. Where
entitlement
to a legacy exits but there is uncertainty
as to its receipt orthe amount
receivable,
details are disclosed as a contingent		 asset until the criteria for income recognition are
met.
d) Fund Accounting
Unrestricted
Funds are available for use at the discretion ofthe Trustees to spend on activities that further
any ofthe charitable
objectives ofthe charity.
Restricted funds are donations
which the donor has specified are to be spent on specific activities ofthe charity, often as set out in a funder project or grant agreement.
e) Expenditure
and irrecoverable
VAT
Expenditure
is recognised once there is a legal or constructive
obligation to transfer economic benefit to a third party, it is probable		 that a transfer ofeconomic benefits
will be
required
in settlement
and the amount ofthe obligation
can be measured
reliably.
All expenditure
is accounted for on an accruals basis and has		 been classified under headings that
aggregate
all costs related to the category.
Irrecoverable
VAT is charged as a cost against the activity for which the expenditure
was incurred.
f) Allocation ofoverhead
and support costs
Overhead,
support
and governance
costs are allocated between the cost of raising funds and charitable
activities. Overhead,
support		 and governance
costs relating to charitable
activities
have been apportioned
between
activities.
Support costs represent the cost in all locations of providing
support for the Charity's
programmes
including
management
and technical support.
g) Costs of raising funds
The costs ofgenerating
funds consist ofthe costs of raising funds including		 an apportionment ofoverhead, support and governance costs.
h) Charitable
activities
Charitable
activities are for improving
the lives ofchildren		 and young people in situations ofconflict and poverty. We do this by working ta support children's education, learning
and protection. Costs ofcharitable
activities include grants		 payable and other costs directly associated with teacher training, school building, juvenile justice and an apportionment
ofoverhead,
support
and governance
costs.
i) Critical accounting
estimates
and areas ofjudgement
In the view ofthe trustees
in applying
the accounting		 policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial
statements
nar da any estimates or assumptions
made carry a significant		 risk of material adjustment in the next financial year.
(j) Tangible fixed assets and depreciation
Tangible
Fixed Assets costing more than E5,000		 are capita lised.
Depreciation
is provided
on tangible fixed assets		 at rates calculated to write off the cost on a straight line basis over their useful
lives as follows:
Computer
equipment
and software		 3years
Fixtures, fittings 8 equipment 5-8years
Motor vehicles 4years
Programme
assets are not capitalised.
k) Leasing and hire purchase commitments
Rentals payable
under operating
leases are charged		 to the Statement of Financial Activities on an accruals basis over the period
ofthe lease.
I)Pensions
The pension cost charged to the Statement of Financial Activities represents amounts payable by the Charity in the accounting period. The Charity contributes to employees'
personal
pension
plans which are part ofthe Charity's		 group stakeholder scheme.
m) Employee benefits - short term benefits
Short term benefits
including
holiday
pay are recognised
as an expense
in the period		 in which the service is received.
n) Employee termination
benefits
Termination
benefits are accounted for on an accrual basis and in		 line with FRS 102.

Unrestricted Restricted Total
funds funds 2022 2021
E E E f
Donations
and Gifts		 86 349,562 103,534 453,097 614,497
Furlough
Scheme		 18,828
Legacies 163,583 18,304 181,887 4,480
Grants receivable 53,944 53,944 194,652
Gain on Disposal of Build Africa Kenya 8,201
513,145 175,782 688,927 840,658
3.EXPENDITURE
Unrestricted Restricted Total Total
Funds Funds 2022 2021
f f f f
Cost of Raising Funds:
Costs ofgenerating voluntary income: Salary 84,480
Costs ofgenerating voluntary income: Other Costs 12,702 12,702 15,251
Support Costs 3,405 3,405 6,098
Total cost ofraising funds 16,107 16,107 105,829
Unrestricted Restricted Total Total
Funds Funds 2022 2021
Cost ofcharitable activities: E E E f
Direct Project Costs 2,622 458,259 460,881 721,507
Support Costs 3,405 3,405 6,098
Total Charitable Activities 6,027 458,259 464,286 727,605
Total resources expended 22,134 458,259 480,392 833,434
Governance costs 2022 2021
f f
Costs relating to Governance comprise:
Audit fees 9,540 16,777
Other costs
9,540 16,777

Number of
The average		 employees
monthly
number of employees
during the year was:
2022 2021
Programmes/charitable
activities		 2 7
Fundraising and communications 2
Management and Administration 2
During the year the Build Africa Uganda staff moved from Build Africa Uganda contracts to Street Child Uganda contracts During the year the Build Africa Uganda staff moved from Build Africa Uganda contracts to Street Child Uganda contracts During the year the Build Africa Uganda staff moved from Build Africa Uganda contracts to Street Child Uganda contracts
2022 2021
Employment costs E E
Wages and salaries 102,477 150,187
National
Insurance		 9,528
Pensions 4,693
Redundancy and termination payments 6,295
102,477 170,702

was disposed of and all as
partner organisation
from		 s
 ets and liabilities o
1stOctober 2020.		 fthe branch were transferred
to a t		 hird party. Build Africa have co ntinued
to work with
Build Africa Ken		 ya as a
Build Africa Kenya Build Africa Uganda
2022 2021 2022 2021
Income and endowments from:
Donations
and legacies		 256,884 244,618 174,340
Other trading activities 52,339
Total income 256,884 244,618 226,679
Expenditure
on
Charitable
activities		 256,406 287,539 226,679
Total Resources Expended 256,406 287,539 226,679
Net income/expenditure before gains/losses on foreign
exchange 478 (42,921)
Foreign exchange gain/(loss) 508 2,287 28,991
986 (40,634) 28,991
Fund balances at beginning ofthe year (7,760) (8,746) 55,148 58,789
Fund balances at the end ofthe year (7,760) (7,760) 14,514 87,780
The assets and liabilities ofthe entities were: Build Africa Kenya Build Africa Uganda
2022 2021 2022 2021
Assets (7,760) 169,040 16,862 91,250
Liabilities (176,800) (2,348) (3,470)
Total net assets (7,760) (7,760) 14,514 87,780
Restricted funds (7,760) (7,760) 14,514 87,780
Aggregate
reserves		 (7,760) (7,760) 14,514 87,780

7.DEBTORS
2022 2021
E E
Intercompany with Street Child 163,116
Accrued income 2,000 33,169
Prepayments
and other		 debtors 18,548 3 123
183,664 36,292
B.CREDITORS: amounts falling due within one year
2022 2021
E f
Intercompany with Lessons for Life 67 22,024
Intercompany with Street Child 9,860
Trade creditors 17,932 8,865
Accruals 5other creditors 11,888 16,538
Taxes and social security costs
29,887 57,287
9.ANALYSIS OF DEFERRED INCOME
2022 2021
E E
Balance at beginning
of		 year 53,689
Amount
released to income		 in the year (53,689)
Amount
deferred
in the		 year
Balance at end ofthe year
10.RESTRICTED FUNDS 10.RESTRICTED FUNDS
As at As at
1April Income Expenditure Transfer 31March
2021 between funds 2022
Projects in Uganda E E E
BUKEDEA Cluster 85,843 (79,332) 6,511
MASINDI Cluster 52,066 (49,463) 2,603
Bridging the Gap 53,534 (53,534)
CTS (MRKS) 60,148 53,944 (119,092) (5,000)
SWESWE/ Kyaka Classrooms 60,000 (60,000)
Total for Uganda Projects 258,057 107,478 (361,421) 4,114
Projects in Kenya
EBURRU Cluster 35,356 (3»356)
Medicor: Quality Education 32,227 50,000 (52,454) 29,773
Farmers Network Project 7,838 (7,838)
Kenya
—ECD Lopuski		 18,304 18,304
Mariosoni 1,190 (1,190)
Total for Kenya Projects 76,610 68,304 (96,838) 48,076
COVID response (1,788) 1,788
332,879 175,782 (458,259) 1,788 52,190
As at As at
1April Income Expenditure Transfer 31March
2020 between funds 2021
Projects in Uganda E E E
NGORA Cluster 13,862 (17,986) 4,124
BUKEDEA Cluster 117,220 6,576 (37,954) 85,843
MASINDI Cluster 82,938 34,340 (61,087) (4,124) 52,066
CTS (MRKS) (4,649) 194,652 (129,855) 60,148
Maximising
Early Years (MEY)		 81,321 (81,321)
SWESWE/ Kyaka Classrooms 60,000 60,000
MENSTRUAL
HYGIENE MANAGEMENT		 2,155 (2,376) 221
Total for Uganda Projects 352,847 235,568 (330,578) 221 258,057
Projects in Kenya
EBURRU Cluster 160,834 (125,478) 35,356
ARISE (766) 31,414 (31,414) 766
Medicor: Quality Education 50,000 (17,773) 32,227
Farmers
Network		 Project (22,879) 96,144 (38,759) (26,668) 7,838
Mariosoni 1,190 1,190
Elburgon
(Kapsita)		 18,128 (44,796) 26,668
Total for Kenya Projects 137,188 196,876 (258,220) 766 76,610
COVID response 2,924 (4,712) (1,788)
490,035 435,368 (593,511) 987 332,878

As at Foreign As at
2022 1April Exchange Transfers 31March
2021 Income Expenditure Movement between funds 2022
E E E E
Unrestricted (210,709) 513,145 (22,134) 327 (1,788) 278,841
Restricted 332,879 175,782 (458,259) 1,788 52,190
Total Reserves 122,170 688,927 (480,393) 327 331,031
As at Foreign As at
2021 1April Exchange Transfers 31March
2020 Income Expenditure Movement between funds 2021
E E E E E
Unrestricted (369,138) 405,290 (239,923) (5,951) (987) (210,709)
Restricted 490,035 435,368 (593,511) 987 332,879
Total Reserves 120,897 840,658 (833,434) (5,951) 122,170

2022 Unrestricted Restricted Total
funds funds
E
Net Current Assets 278,841 52,190 331,031
278,841 52,190 331,031
2021 Unrestricted Restricted Total
funds funds
f
Net Current Assets (210,709) 332,879 122,170
(210,709) 332,879 122,170