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REGISTERED COMPANY NUMBER: 03420027 (England and Wales)
REGISTERED CHARITY NUMBER: 1072068















Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Africa Lands Trust

Africa Lands Trust

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Report of the Trustees 1

Statement of Financial Activities 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 9

Africa Lands Trust (Registered number: 03420027)

Report of the Trustees
for the Year Ended 31 August 2023



The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
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.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03420027 (England and Wales)

Registered Charity number
1072068

Registered office
Suite 1
The Riverside Building
Livingstone Road
Hessle
East Yorkshire
HU13 0DZ

Trustees
D A Murden
C Saint
K M Wilson
G McCormick
P A Harris
J R Nicholson

Company Secretary

Approved by order of the board of trustees on 30 June 2024 and signed on its behalf by:





D A Murden - Trustee

Africa Lands Trust

Statement of Financial Activities
for the Year Ended 31 August 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 879 24,857

EXPENDITURE ON
Charitable activities
Charitable activities 15,621 102

Other 2,277 240
Total 17,898 342

NET INCOME/(EXPENDITURE) (17,019 ) 24,515


RECONCILIATION OF FUNDS
Total funds brought forward 25,879 1,364

TOTAL FUNDS CARRIED FORWARD 8,860 25,879

Africa Lands Trust (Registered number: 03420027)

Balance Sheet
31 August 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,520 -
Investments 6 1 1
1,521 1

CURRENT ASSETS
Stocks 7 849 849
Cash at bank 6,670 25,209
7,519 26,058

CREDITORS
Amounts falling due within one year 8 (180 ) (180 )

NET CURRENT ASSETS 7,339 25,878

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,860

25,879

NET ASSETS 8,860 25,879
FUNDS 9
Unrestricted funds 8,860 25,879
TOTAL FUNDS 8,860 25,879

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 statements, so far as applicable to the charitable company.


Africa Lands Trust (Registered number: 03420027)

Balance Sheet - continued
31 August 2023

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


The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2024 and were signed on its behalf by:





D A Murden - Trustee

Africa Lands Trust

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

All income received by Africa Lands Trust this year were donations, although they have received grants in the recent past.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.

Africa Lands Trust

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 380 -

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 24,857

EXPENDITURE ON
Charitable activities
Charitable activities 102

Other 240
Total 342

NET INCOME 24,515


RECONCILIATION OF FUNDS
Total funds brought forward 1,364

TOTAL FUNDS CARRIED FORWARD 25,879


Africa Lands Trust

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 September 2022 2,500
Additions 1,900
At 31 August 2023 4,400
DEPRECIATION
At 1 September 2022 2,500
Charge for year 380
At 31 August 2023 2,880
NET BOOK VALUE
At 31 August 2023 1,520
At 31 August 2022 -

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1 September 2022 and 31 August 2023 1
NET BOOK VALUE
At 31 August 2023 1
At 31 August 2022 1

There were no investment assets outside the UK.

7. STOCKS
2023 2022
£    £   
Stocks 849 849


Africa Lands Trust

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accrued expenses 180 180

9. MOVEMENT IN FUNDS
Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 25,879 (17,019 ) 8,860

TOTAL FUNDS 25,879 (17,019 ) 8,860

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 879 (17,898 ) (17,019 )

TOTAL FUNDS 879 (17,898 ) (17,019 )


Comparatives for movement in funds

Net
movement At
At 1.9.21 in funds 31.8.22
£    £    £   
Unrestricted funds
General fund 1,364 24,515 25,879

TOTAL FUNDS 1,364 24,515 25,879

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 24,857 (342 ) 24,515

TOTAL FUNDS 24,857 (342 ) 24,515

Africa Lands Trust

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.9.21 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 1,364 7,496 8,860

TOTAL FUNDS 1,364 7,496 8,860

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 25,736 (18,240 ) 7,496

TOTAL FUNDS 25,736 (18,240 ) 7,496

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2023.