Charlty reglstratlon number NIC107410 Company reglstratlon number N1647123 {Northern Irelandl KUTUNZA WATOTO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
KUTUNZA WATOTO LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mi55A Lowry Mr J Lowry Mrs R Lowry Secretary MissA Lowry Charlty number NIC107410 Company number N1647123 R8gl3tered offlce Unit A3 17 Heron Road Belfast BT3 9LE Independent exarnlner Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast Co. Anlrim Northern Ireland BT2 8HS
KUTUNZA WATOTO CONTENTS Page Trustees report Independent examiner's report ststement of financial activlties Statement of financial posltion Notes to the financial statements 6-10
KUTUNZA WATOTO TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in nole 1 to Ihe financial statements and comply with the charity's Igoveming document], the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable in Ihe UK and Republic of Ireland (FRS 1021" (effective l January 2019). Objectlves and actlvltles The charity's objects are to promote the following purposes lor the public benefft: the relief of povety on the continent of Africa and throughout the world: Ihe relief of those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage on the continent of Africa- the education of the general public in Northem Ireland regarding poverty and the needs of the pecple of the continent of Africa,. and such other exclusively charitable purpose aordIng to the Law of Northern Ireland as the Directors may from time lo time decide. Public b8nefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake, Flnanclal revlew ReseNes policy The results for the year are sel out on page 3. The trustees, policy is to ensure that sufficient unrestricted reserves are available to cover core adminislralion, fun raising and support costs, without which the charity could not function, and to provide for known future developments. liabilities and uncertainties. Thé level of reseNes is reviewed on an ongoing basis. Majorrisks The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure lo Ihe major risks. Structure, governance and management The charity is a company limited by guarantee and was in¢orporated on 27 July 2017. There are 3 trustees and new trustees can be appointed at a properly convened meeting in accordance with the charity's Articles of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mi$sA Lowry Mr J Lowry Mrs R Lowry Recwrfment and appointment of trustees None of the trustees has any beneficial interest in the company. All of Ihe trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
KUTUNZA WATOTO TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees report was approved by Ihe Board of Trustees. Mr J Lowry Trustee Date..
KUTUNZA WATOTO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KUTUNZA WATOTO We report to the trustees on our examination of the financial statements of Kutunza Watoto (the chartyl for the year ended 31 March 2024. Responslbllities and basls of report As the trustees of the charity land also its directors for the purposes of company lawl you are responslble for the preparation of the financial statements and you have considered the audit requirement of Section 65{3) of the Charities Act {NII 2008 (the Actl- Having satisfied ourselves that the charity is not subject to audt under company law. and is eligible for independent examination, il is our responsibility to.. examine the accounts under sedion 65 of the Charities Act {Northem Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65{9)Ib) of the Charities Act., state whether particular matters have come to our attention. Independent examlner's ststement We have examined your charity accounls as required under Section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65{91{b) of the Charities Act. The examination included a review of the accounting rOrdS kept by the charity and a comparison of the accounts presented with those records. It also included considallOn of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe.. That accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord with those records", or That the financial statements do not comply with the accounting requirements of section 396 of the Companies Ad 2006 and with the methods and pr(nciples of the Charities Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. That there is further Information needed for a proper understanding of the accounts to be reached. We have completed our examination and have no concerns in respect of the matters (1) to 14) listed above and. in connection with following the Directions of the Charity Commission for Northem Ireland. we have found no matters that require drawing to your attention. Harblnson Mulholland Cenlrepoint 24 Omieau Avenue Belfast Co. Antrim 8T2 8HS Northern Ireland £o..l.l...L.oLLt
KUTUNZA WATOTO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlctsd Unrestrl¢tad funds funds 2024 2023 Notes Incorne from: Donations and legacies Charitable activities 175 1,915 21,184 3,474 Tolal Income 2,090 24,658 Expendlture on: Chafitable activities 7,700 13.401 Total exppndlture 7,700 13,401 Nét Incomellexpendlture) and movement In funds (5.610) 11,257 Reconclllatlon of funds: Fund balances at 1 April 2023 11,247 (10) Fund balances at 31 March 2024 5.637 11,247 The ststement of financial activities includes all gains and lossès recognised in the year. All income and expenditure derive from continuing activities.
KUTUNZA WATOTO STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2024 2024 2023 Notss Current assets Debtors Cash at bank and in hand 3,841 9.593 3.130 8.298 13.434 11,428 CredltOTS: amounts falllng due wlthln ono yoar {7,797) 1181) Net current assets 5,637 11.247 The funds of the charlty Unrestricted funds 5,637 11,247 5,637 11.247 The company is entitled to the exemption from the audlt requirement contained in section 477 of the Companies Act 2006. for the year ended 31 March 2024. The trustees acknowledge their responsibilities for ensurtng that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the stale ol affairs of the company as al the end of the financial year and of its incoming resources and applicaion of resources, including ils income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial ststements, so far as applicable to the company. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with secllon 476. These financial statèments have been preparéd in accordance with the provisions applicable lo companies subject to the small companies regime. The fina ial Statements were approved by the trustees on Mr J Lowry Trustee Company registration number N1647123 (Northem Ireland)
KUTUNZA WATOTO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountlng pollcles Charlty Informatlon Kutunza Watolo is a private company limited by guarantee incorporated In Northem Ireland. The registered office is Unit A3, 17 Heron Road, Belfast, BT3 9LE. 1.1 Accounllng Conventlon The financial statements have been prepared in accordance with the Companles Act 2006 and 'Accounling and Reporting by Charities: Statement of Récommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). las amended for accounting periods commencing from 1 January 20161- The charity is a Public Benefft Entity as deffined by FRS 102. Th6 charty has taken advantage of the provSsions in the SORP for charities applying FRS 102 Updats Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements aré prepared in sterling, which is the functional currency of the charfty. Monetary amounts in these financial slatemenls are rounded to the nearesl £. The financlal statements have been prèpared under the historical cosl convenlion. The principal accounting policies adopted are set out below. 1.2 Golng concem At the time of approving the financial statements, the trustees have a reasonable expèctalion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trtee9 continue to adopt thè going concem basis of accounting in preparing the financial slatemenls. 1.3 Charltable funds Unrestricted funds are available for use at the dlscretion of the trustees In furtherance of thelr charftable objectives. Restricted funds are subject to specific Conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintaln8d by ihe charity. 1.4 Income Income is recognised when the charity is legally entilled to it after any performance condltions have been met, the amounts can be measured reliably, and it is probable that income will be recéived. Cash donations are recognised on rec6ipt. Other donations are iecognised once the charity has been notified of the donation, unless performan nditionS require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or olheNise if the charity has been notified of an impending distribution, the amount is knoM, and receipt is expected. If Ihe arnount is not known, the legacy is treated a5 a ontingent asset.
KUTUNZA WATOTO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) 1.5 Expendlture Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the ¢alegory. Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 1.6 Cash and cash oqulvalents Cash and cash equivalents include cash in hand, deposits held at call wth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognlsed in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there Is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transactlon costs and are subsequently cauied at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets class¢fied as recéivable within one year are not amortised. Baslc flnancial liabllltl85 Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instrurnents are subsequently carried at amortised cost, using th8 effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are piesented as non-current liabilitl85. Trade creditors are recognised initially at transaction priGe and subsequently measured al amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabilitles Financial liabilities are derecognised when the charity's contractual obligations explre or are discharged or cancelled.
KUTUNZA WATOTO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnued) 1.8 Employee benefits The cost of any unused holiday entitlement is recognised in the perlod In which Ihe employee's services are received. Termination benefits are recognised immediately as an expense when the charity Is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Crltlcal accountlng estimatss and judggments In the application of the charity's accountlng policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical expertence and other factors that are considered to be relevanl. Actual resulls may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are re¢ognised in the period in which the estimate Is revised where the revision affects lY Ihat period. or in the period of the revision and future periods where the revision affects both cUrnt and future periods. There are no critical accounting estimates and judgements. Income from donatlons and legacles Unrestrlcted Unrestricted fvnds funds 2024 2023 Donations and gifts 175 21,184 Incoma from charltable actlvitles Sales of Books 2024 Sales of Books 2023 Sales wilhin charitable activities 1.915 3,474 Analysls by fund Unrestricted funds 1,915 3.474 Trustees None of the trustees lor any persons connected with them) recelved any remuneration or benefits from Ihe charity during the year.
KUTUNZA WATOTO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. Taxatlon The ch8rtty is exempt from taxation on ils activities because all its income is applied for charitable purposes. Debtors 2024 2023 Amounts falllng due wlthln one year: Other debtors Prapayments and accrued income 3.241 600 2,530 600 3,841 3,130 Credltors: amounts falllng due wlthln one year 2024 2023 Other creditors 7,797 181 10 Relatsd party transactlons Transactlons wlth relatod partles During the year the charity entered into the following transactions with related parties.. Loans recelved 2024 Loans provlded 2024 2023 2023 other related parties 7,616 (10,856) 711 473 7.616 (10.8561 711 473
KUTUNZA WATOTO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Related party transactlons Icontlnued) The followlng amounts were outstanding at the reporting end dale.. Amounts owed to Telatsd partle$ 2024 2023 other related parties 7,797 2,057 The following amounts were outstanding at the reporting end date-. Amounts owed by related Amounts owed by related partles partles 2024 2023 Balance Balan¢e Net Net Other related parties 3,241 3,241 2,530 2,530 3,241 3.241 2,530 2,530 10-