Charity registration number 1163227
Company registration number 08915453 (England and Wales)
LARCHFIELD TANZANIA HOMES
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
LARCHFIELD TANZANIA HOMES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
James Boyd Berry
Charles Michael Kenny
Julian Alexandra Skidmore
Charity number
1163227
Company number
08915453
Registered office
222 Meadvale Road
Ealing
London
W5 1LT
Accountants
Gravita III LLP
66 Prescot Street
London
E1 8NN
LARCHFIELD TANZANIA HOMES
CONTENTS
Page
Trustees' report
2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
LARCHFIELD TANZANIA HOMES
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

The trustees, who are also the directors of Larchfield Tanzania Homes for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards 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 adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

LARCHFIELD TANZANIA HOMES
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -

The trustees present their annual report and financial statements for the year ended 28 February 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The objective of Larchfield Tanzania Homes is to build and operate a children's home and primary school in Mkuranga, Dar-es-Salaam, Tanzania.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Larchfield Tanzania Homes (LTH's) will be responsible for building and directing the running and management of the children's home rather than simply funding it. Management and monitoring of the building work will be carried out as part of the voluntary work performed by LTH's team of volunteers and locally licensed architectural firms in Tanzania.

Achievements and performance

The charity was incorporated on 27 February 2014 and commenced fundraising activities in September 2014.

Financial review

During the period donations of £13,650 were received.

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 the major risks.

Structure, governance and management

The charity is a company limited by guarantee and not having a share capital.

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:

James Boyd Berry
Charles Michael Kenny
Julian Alexandra Skidmore

The power of appointment of trustees is vested in the members and existing trustees.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

James Boyd Berry
Trustee
17 October 2023
LARCHFIELD TANZANIA HOMES
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LARCHFIELD TANZANIA HOMES FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Larchfield Tanzania Homes for the year ended 28 February 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 20 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Larchfield Tanzania Homes and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Larchfield Tanzania Homes and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Larchfield Tanzania Homes has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Larchfield Tanzania Homes. You consider that Larchfield Tanzania Homes is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.}

We have not been instructed to carry out an audit or a review of the financial statements of Larchfield Tanzania Homes. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Gravita III LLP
17 October 2023
Chartered Accountants
66 Prescot Street
London
E1 8NN
LARCHFIELD TANZANIA HOMES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
13,650
20,876
Other income
3
500
-
Total income
14,150
20,876
Expenditure on:
Charitable activities
4
1,188
29,732
Net income/(expenditure) for the year/
Net movement in funds
12,962
(8,856)
Fund balances at 1 March 2022
3,307
12,163
Fund balances at 28 February 2023
16,269
3,307

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
LARCHFIELD TANZANIA HOMES
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
17,919
4,607
Creditors: amounts falling due within one year
8
(1,650)
(1,300)
Net current assets
16,269
3,307
Income funds
Unrestricted funds
16,269
3,307
16,269
3,307

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 17 October 2023
James Boyd Berry
Trustee
Company registration number 08915453
LARCHFIELD TANZANIA HOMES
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
1
Accounting policies
Charity information

Larchfield Tanzania Homes is a private company limited by guarantee incorporated in England and Wales. The registered office is 222 Meadvale Road, Ealing, London, W5 1LT.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors 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.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

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 to the category.

LARCHFIELD TANZANIA HOMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 7 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried 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 classified as receivable within one year are not amortised.

Basic financial liabilities

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 instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to 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 presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the 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.

1.8

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
13,650
20,876
LARCHFIELD TANZANIA HOMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 8 -
3
Other income
Unrestricted
Total
funds
2023
2022
£
£
Other creditors write off
500
-
4
Charitable activities

 

 

2023
2022
£
£

Project cost

134
28,705

Other

16
16
150
28,721
Share of governance costs (see note 5)
1,038
1,011
1,188
29,732
5
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£
Accountancy
-
1,038
1,038
1,011
-
1,038
1,038
1,011
Analysed between
Charitable activities
-
1,038
1,038
1,011

 

6
Trustees

None of the trustees (or any persons connected with them) received any remuneration or expenses during the year.

LARCHFIELD TANZANIA HOMES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 9 -
7
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
8
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
150
500
Accruals and deferred income
1,500
800
1,650
1,300
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