The trustees present their annual report and financial statements for the year ended 30 April 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, 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 applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).
The major objective of The Wulugu Project is to tackle poverty in a long-term, sustainable way in the North of Ghana. That education, particularly for girls and women, is the single most effective mechanism for achieving this, is well documented. This is the main focus of our work but of course cannot stand alone - there are numerous other factors impacting on fulfilling our aims.
As education improves and is made more available, there is a simultaneous improvement in health, nutrition and optimism for the future. Poverty decreases, alongside fall in family size, while income improves.
We have continued to work will all sectors of the community in Ghana. This includes Ghana Education Services, Local Government, Primary Schools, Junior High Schools, Vocational Schools, PTAs, Teachers, Village Chiefs, women's groups and involving all religious groups where they exist. One key to our success is the long-standing bond of mutual respect and trust that is firmly part of out ethos and means that we avoid the corruption that is unfortunately part of the activities of many other groups at all levels.
This year we have concentrated on helping villages where there are strong Parent Teacher Associations that are striving to support education for their children. We would like to achieve more shared funding in the future.
The school buildings at Fuo, started by their PTA last year, were aided by funds from Clive Richards Foundation and Wulugu Project and their completion has brought great pride to the village.
The repairs at Zanzuga Yipala and Voggu, following damage caused by the Covid closures, have been completed with generous funding from Fondation Eagle. These schools have been given a new lease of life.
Two more bore holes were drilled, funded by Kitchen Table Charitable Trust bringing the total to 49. The clean water provided locally helps in the prevention of Covid with easier hand washing, protects from water born diseases like Typhoid and Dysentery and enables girls more time, after collecting the family water, to attend school. This is a huge benefit for the girls and is shown in their attendance. We have been told that we have brought the first ever clean water to half a million people.
The Vocational schools at Sawla and Savelegu have benefited from an input of cash to buy consumables for their Practical courses in catering and dressmaking. Practical lessons are vitally important in these vocational subjects but the ongoing cost of ingredients reduces the number of practical lessons taught each year. The students cannot bring in their own ingredients. All Saints Educational Trust support for this is most appreciated by students and trainers alike.
A local Norfolk family were very pleased with the school that they funded in Kanshegu in memory of their deceased wife and sister. This was followed by a second school, Kakoshi-Chokosi. This was chosen as it was near a flourishing school in Kakoshi that was successful but totally overcrowded. The school was funded privately and completed in February 2023 with a special opening durbar. This school honours family member David Hicks. He was unaware of this until it was completed! The opening ceremony was magnificent and attended by all the local dignitaries, including the District Chief Executive, the female Member of Parliament and John Dramani Mahama, a former President of Ghana. A very special gathering for this remote and impoverished village demonstrating that politicians of all parties and members of all religious groups can work together and respect each other. Education for girls in this region is still relatively new. The communities support it as they are well aware that this is one of the most effective ways to tackle poverty. The impact of a female MP visiting the school cannot be overstated. What a lesson for us all.
The threat of COVID may have declined but the need for clean water, toilets and schools is growing and we will continue to search for donors to provide funding to satisfy these needs.
Future activities
Whilst Covid rages on and so many villages need boreholes, we will continue to follow the donors and build more boreholes.
But the schools that we have built will always need restocking and maintaining and this work will continue. Funding for new schools is hard to find in the present-day climate but we do have many villages that really need help, often to complete work started by hardworking, committed PTAs. Thus, we part or complete the funding for their projects.
The village then ‘owns’ the school and celebrates their success.
Our improved website has attracted more donors and we head to the future full of hope.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level of at least £10,000. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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:
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
settle the terms of payment with suppliers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
pay in accordance with the company's contractual and other legal obligations.
There were no creditors of the company at the year end.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of The Wulugu Project Limited (the charity) for the year ended 30 April 2023.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Fundraising, administration and monitoring
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Wulugu Project Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 4b Church Street, Diss, Norfolk, IP22 4DD.
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. The principal accounting policies adopted are set out below.
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.
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.
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.
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 of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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.
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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
In the application of the charity’s accounting 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 experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Fundraising, administration and monitoring
Fundraising
Administration
Building work
Building repairs
Desks
Vocational school equipment
Water boreholes
The average monthly number of employees (including trustees who are directors for the purposes of the Companies Act 2006) during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
As the charity has no paid employees, no pension scheme has been established.
There were no disclosable related party transactions during the year (2022 - none).