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|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|
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|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|
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|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|
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|||||||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|
##
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|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|
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|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|
##
##
##