Congo Initiative UK (Company Limited by Guarantee) Annual Financial Report for the year ended 31 December 2023 Registered Company Numb8r: N1657985 Registsred Charlty Commission for Northern Ireland NIC107268
Congo Initiative - UK Annual Report for the year ended 31 December 2023 Contents Page Board of Directors and Other Information... Trustees Report... Statement of Trustees, Responsibilities.......................... Independent Examiner's Report............... Statementof Financial Activities........................... Statement of Financial Position......................... Notes to the Financial Statements......................... .10
Congo Initiative . UK Board of Directors, Trustees and Other Information DireGtors Mr Eric Clathe Mr Olufemi Akinlabi {Chaiman) Mr Jonathan Bimie Mrs Heather Saunders Trustees Mr Eric Clarke Mr Olufemi Akinlabi Mr Jonathan Bimie Mrs Heather Saunders Regl8tered Address 285a Woodstock Road Belfast 8T6 8PR Bankers AIB Dungannon County Tyrone Brio 1AZ Company Number N1657985 Charlty Commlsglon Northem Ireland Number NIC107268
Congo Initiative . UK Directors, and Trustees, report for the year ended 31 December 2023 The Directors and Trustees present their report and the unauditwj accounts for the year ended 31 December 2023. Structure, govern8nGe and management The charfty is an incorporated body and is under th8 control of the Directors and Truste8s as detailed out in the charity conskn'tution. The charity is recognised as a charity under the Charity Commission for Norlhern Ireland as at the date of registration being the 6 February 2019. Organlsatlon The Directors and Trustees who have served during the year are detsiled out on pag8 3. The Directors and Trustees are expected to play several key roles in the running of the charity including fvndraising, governance, financial budgeting and auditing, evaluation and assessment of the organisation's mission and stratsgic goals, resource development, public policy and adv¢xacy, and markating and communication, Public Benefrt The dlreclors and Trustees belleve that both the purposes and the activities undertaken in thls tast financial year clearty satisfy both elements of the public benefft requir8ment. Funds have been raised from small trusts and foundations in the UK, churches and individuals. Advocacy has conllnued in the UK through faith groups and interested parties although fundraising actsvities have been curtailed due to the Covid pandemic lockdown. Work in th8 eastsm part of the Democratic Republic of Congo has been curtailed due to continued ethnic violence and Insecurity. Wilh the amed interventions of the amiies of Kenya and Uganda In support of the national army, Ihere is the danger of increased military activity. However, in spite of these difficultl88, various CI-UK funded projects have continued such as the tsvo primary schools, the counselling centre, the Mangina trade school, and the Universita Chrétienne Bilingue du Congo (UCBC). A campus-wide clean water system has been completsd at UCBC wlth a deep well water pump. Land has been purchased for the Mangina trade school with money from the Bob MGAllister Memorial Fund. Statement of Public Beneflt The charity 15 organis8d and Shall b8 Operated exdusively for charitable, scientific, literacy, educalion and religiou8 purposes and to foster the preventlon of cruelty to children, gender abuse and adively support 8nvironmentsl protectlon. These benefits are evidenced by regular and substantial support, both financial and practlcal for a number of key projects. Currently the Charity is actively engaged in developing a trade school in addition to contsnued support of La Charité primary school and the UCBC university. The charities beneficianes are all those whose needs bring them within the ambit of the charity's support. Any private benefil is incidental and necessary to ensure the organisation achieves its purpose. All fvnds received by the charity shall be dedlcated and invested solely for such purposes. Alms and Objectlves The vision of the charity ts to mc#Jel, nurture and shape an authentic community of Chrisys followers whose calling is to transform soaety in Éhe Democratic Republic of Congo. The charity hopes to train and develop strong indigenous leaders to transfom their communities in their nab'on of Congo by building civil society on Christj'an principles of socials justice for the common good. The overall purpose of Congo Initiatwe UK is the transfonnation of the Democratic Republic of Congo through holistic development of leaders who bring hope and healing to individuals, communities and the nation.
Congo Initiative . UK Financial Revlew and Reserves The principle sources of income are mainly from grfts and donations. The annual accounts show a deficit for the year of £18,250. The trustees still believe that the charity is in a good financial position. The Directors and Trustees will continue to actively seek financial support in order lo cornmen new projects in the Democratic Republic of Congo. By order of the Board 107oF/IL)L4 Mr Erlc Clarke Dlr6ctor and Trustèe Date
Congo Initiative- UK Statement of Directors, and Trustees, Responsibllities The Directors and Trustees are responsible for preparing the Directors, and Trustees, Annual Report and the Accounts in accordance vith the applicable law and United Kingdom Accounting Standards, The law applicable to charities in Northem Ireland requires the dlreGlors and Injslees to prepare financial slatements for each finanaal year. Under that law the trustees have prepared Ihe finanrjal statements in aordane2 with Generally ACpIed Aco)unting Practice In the Uniled Kingdom laccounling standards issued by the Financtal Reporting Council in the UK, including Charities SORP IFRS 102). Accounting and Reporting by charilies.. Statements of recommended practice applicable to Gharilies preparlng their acrA)unls in accordanGe with the Financial Reporting Standard applicable in Ihe United Kingdom and Republrc of Ireland (FRS 102) and promulgatéd by the Institute of Chartered Accounlanls in the United Klngdom and United Kingdom Law). Under thal law the directors and Iruslees must not approve the financial statements unless they are satisfied that they give a Inje and fair view of the stale of affairs of the charity and of Ihe financial aGb'vits'es of the charity for that period. In preparing these accounts, the directors and Irustees are required lo follow best practice and: select suitsble accounting policies and then apply them consistenlly; obseTV6 the methods and principles in the Charities SORP; make judgements and estlmates that are reasonable and prudent; stste whelher the applicatlon of accounting standard8 have been followed, sublecl to any material departures disclosed and explained the accounts., prepare tha accounts on the golng concem basis unless il is inappropri81e to presume Ihat the charity will continue in business. The direclors and trus188s are responsible for keeping proper accountlng records which disclose with reasonable accuracy at any time the financial posits'on of the charity and to enable them to ensure Ihal the accounls comply wlth the Charities Acl (Northem Ireland} 2008 and th8 Charity (Accounls and Reports) Regulations (Nothem Ireland) 2008. They are 81$0 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulari*'8s. Dlrectors and Tntslees are responsible for the maintenance and integrity of the corporate and financial infomiation included on Ihe charilies website, Legislation in the Uniled Kingdom governing the preparalion and dissemination of financial stslements may differ from legislation in otherjurisdiclions. By order of the Board Mr Olufe Dlrector and T labl tee Dat
Congo Initiative- UK Independent examiner's report to the trustees of Congo Initiative UK for the year ended 31 December 2023 I report on the accounts of the Trust for the year ended 31 Dernber 2023, which are set out on pages 8 to 13. Respective responsibilities of charlty trustees and examiner As the charity's directors and trustees, you are responsible for the preparation of th8 accounts in accordance with the Companies Act 2006. Having been satisfied Ihat the charity is not subject to audit under company law, and is eligible for independent examination, it is my understanding to: examina the accounts under section 65 of the Charilies Act (Northem Ireland) 2008 follow th8 procedure laid down in the general directs'ons given by the Commission under section 65{91(bl of the Charities Act (Northem Ireland) 2008. stste whether particular matters have come to my attentic. Basls of Independent oxamlnerfs report I hav8 examined your charity accounts as required under section 65 of the Charities Act and my examination was carried OLrt in accordance With the general Directions given by the Chaiity Commission for Northem Ire18nd under section 65191(b) of th8 Charilies Act. My Examination included a Miew of th8 accounting records kept by the chartty and a comparison of the accounts presented with those records. It also induded consideration of any unusu81 items or disdosures in the accounts, and seeking explanations from you as charity directors and trustees conGerning any such mattsrs. My role is also to stste whether any matsrial matters have come to my attention giving me cause to believe: 1. That accounting rocords were not kept in accordance section 386 of Ihe Companies Act 2006 2. That the accounts do not accord with those accounling records 3. That the accounts do not comply with the accounts'ng requirements of section 3% of the Companies Act 2006 and with the MedS and principles of the Charities Statement of Recommended Practsce applicable to charities preparing their accounts in acGordanc8 with the Finanoal Reporting Standard applicable in the United Kirodom and the Republic of Ireland. 4. That there is fvrther information needed for a proper understsnding of the accounts to be reached Independent examlnerfs statement I have completed my examination and have no concems in respect of the matters1 to 4 listed above and, in connection with following the Directions of th8 Charity Commission for Northem Ireland, I hav8 found no matters that require drawing of your attention. art Compston FCA Chartered Accountsnt with Chartered Accountsnts Ireland 105 Derryraine Road Collone Arniagh BT60 1LL
Congo Initiative - UK Statement of Financial ActNlties for the year ended 31 December 2023 Unrestrlcted Restrfcted Total Funds Funds Funds 2023 2023 2023 Total Funds 2022 Notes Incomln Resources.. Voluntary income Gifts and Donations Gift Aid Tax Refund Other income Activities to Generato Funds Investment and Other Income 6,520 29,000 35,520 41,041 Total Incoming Resourc88 6,520 29.000 35,520 41,041 Resources Ex nded.. Charitabl8 Activities Charitable Donations Charitsble Actlvity Administration Costs 50,600 50,600 2,474 696 14,200 2,048 452 2,474 696 Total Resources Expended 3,170 50,600 53,770 16,700 Net Income for tho year 3,350 (21,600) {18,250} 24,341 Gross Transfers between funds Net Incomel(Expens8} for the year (700) 2,650 700 (20,900) (18,250) 24,341 Reconclllatlon of Funds Total funds brought fOrard 21,269 29,364 50,633 26,292 Totsl Funds to Carry Forward 23,919 8,464 32,383 50,633
Congo Initiative . UK Balance Sheet as at 31 December 2023 Employment of Capital Unrestricted Restricted Funds Funds 2023 2023 Totsl Funds 2023 Total Funds 2022 Notes Fixed Assets Tangible Assets 1,632 1,632 1,632 Current Assets Cash at Bank and in Hand 22,287 8,464 30,751 49,001 Current Llabilities Sundry Creditors and Accruals Net Current Assets 22,287 8,464 30,751 49,001 Total Assets Lass Current Liablllties 23,919 8,464 32,383 50,633 Funds Unrestricted Funds Restricted Funds 23,919 8,464 21,269 29,364 For the year ended 31 December 2023, the company was entitled to an exemption from audit under section 477 of the Companies Aci 2006 latIng to small companies. The direGtors and trustees have not required the company lo obtain an audit of its financial statements for the year ended 31 Dernber 2023 in accordance with section 476 of the Companies Act 2006. The directors and trustees acknowledge their responsibilities for,. A) Ensuring that the company keeps proper accounting records which comply wlth sections 386 and 387 of the Companies Act 2006 and B) Preparing financial statements which give a true and fair view of the stale of the affairs of the company as at the end of each financial y22r and its profit or loss for each financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relabng to financial statements, so far as applicable to the company. The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved and authorised for issue by the Board on the 28 February 2024 and were signed by.. Mr Eric Clarke Director and Trustee
Congo Initiative - UK 10 Notes to the accounts for the year ended 31 December 2023 Prlnclpal accountlng pollcles The financial statements have been prepared in accordan applicable Accounting Standards in the United Kingdom and the Charities Act (Nothern Ireland) 2008. A summary of the fflore imFQrtant accounting policies, which have been applied consistenlly, is set out below. Basis of accounting The financial statements are prepared in accordance with the histori1 )st convention modified by the revaluation of certain fixed assats. Taxatlon The charity is exempt from tsx on its charitable activities. R8strlct8d Funds Restricted fvnds are accounted for in accordanck with the parb'cular terms of trust arising from the express or implied wishes of the donors in so far as these are intended to be binding on the charity. Where such wlshes are not intended to be binding, they are taken into account and recoJnised in appropriately designated funds. Unrestrlctsd Free Reserve8 Fr88 Reserves represent amount which are expendable at the discretion of the trustees in furtherance of the objectives of the charity and whlch have not been designated for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. Incomlng R88ourc8s Voluntary Income or capitsl is included in the Ststement of Financial Activities when the ch8rlty Is18gally entitled to it, its financlal value can be quantified with r8asonable certainty and there is reasonable certainty of its ultimate receipt. Entil8m8nt to18gacies is considered 8stsblished when the charity has been notlfied of a distribution to be made by th8 executors. Income received in advance of due performance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entiuement have been met. All other income is accounted for on an acGrual b8sIs. Re8ource8 Expended All r8sources expended are accountsd for on an accrual basis, Charitable actiMti8s include costs of sepiices and grants, support costs and depreciation on related assets. Costs of generatirKJ funds similarfy include fundraising activities. Non -staff costs not athibuled to one category of actimty are allocated or apportj'oned pro-rat to the stsffing of the relevant seNice. Finance, HR and administrative slaff costs are directly attributsbla to individu8J ath'vities by objeclive. Governance costs are those associatsd with constitutional and statutory requirements. Tangible fixed assets No Provision for deprecialion on fixed assets És made in these accounts.
Congo Initiative . UK 11 2 Glfts and Donations Unrestricted Restrictsd 2023 2023 Tolal 2023 Total 2022 Christian Fellowship Trust Sally Philips Trust Ardbarron Trust General Donations CAF 8,000 2,000 25.000 5,747 294 41.041 2,000 27,000 2,000 27,000 6,226 6,226 294 6,520 29,000 35,520 3 Charltsble Donallons Unrestrlcted Restrlcted 2023 2023 Total 2023 Total 2022 Congo Initiatsve - DRC 50,600 50,600 50,600 50,600 14,200 14,200 4 Charltable Activlty Unroslrlcted Restrlcted 2023 2023 Totsl 2023 Total 2022 Fundralslng Travel Costs Programme Costs 334 334 233 2,140 2,474 2,140 2N74 1,815 2,048 5 Admlnl8tratlon Costs Unr•$trfct•d R•stri¢tod Totsl 2023 Total 2023 2023 2022 Bank Fees Accountancy Office Matsrials 114 89 200 163 452 200 382 696 382
Congo Initiative . UK 12 6 Tangible Assets Equipment Total Cost At 1 January 2023 Additi'ons Disposals At 31 December 2023 1,632 1.632 1,632 1,632 Dopreciatlon At 1 January 2023 Charge Disposals At 31 December 2023 Net Book Value At 31 December 2023 1,632 1,632 At 31 December 2022 1,632 1,632 7 Sundry Crndltors and Accruals 2023 2022 Accruals Movement in Funds Incomlng Resources Movement Resources Exp8nded In Funds Unrnstrfcted Funds General Fund 6,520 (3,170) 3,350 Restrictsd Fund$ Restiict8d Funds 29,000 ($0,600) (21,600) Total Funds 35,520 (53,770 (18,250
Congo Initiative - UK 13 Nat Movement In Funds, Included In the above as follo. At the Movement Transfers 0110112023 In Funds inl(out) Transfer5 In Funds At the 3111212023 Unrestrfcted Funds General Fund 21,269 3,350 (700) 23,919 Restrlcted Funds LA Charite - Primary School Office Printer UCBC Memor181 Fund Tolal Funds 6,000 250 19,100 200 6,200 250 {19,800) 2,000 18,250 700 2,014 32,383 10 Dlr•¢tols and Trustee's Remuneratlon and Benefits There were no Dlrectorfs or Trustee's remuneration, or other ben8fits made during the year ended 31 December 2023. There Vre no Directorfs or Trustee's reimbursed for approved expenses Incurred in connection with the Charity during the year ended 31 D8cemb8r 2023.