REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
The Doxa Project Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
The Doxa Project Limited |
The Doxa Project Limited |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
The Doxa Project Limited (Registered number: 07917747) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. 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 2015). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Charity's aim is to advance education amongst children and young people primarily but not exclusively in Kenya, which it does by coming alongside existing schools and equipping them with buildings, educational materials, knowledge and funding, and by providing funding and assistance with travel arrangements to allow children to attend existing schools in their community. The Charity also aims to work towards alleviating poverty in the areas in which such schools are based by assisting with the payment of school fees to allow underprivileged children to attend school and receive not only an education but also a daily hot meal and the support of respected adults in the community. |
The Charity's objectives are to increase funding levels in order to provide further financial support to the communities it works in, and to continue to provide knowledge, assistance and opportunities to those living within such communities. The Charity anticipates meeting these aims by raising awareness of the Charity in order to attract financial supporters in the United Kingdom, and by continuing to develop the relationship in place with those people who run the community projects in conjunction with the Charity. |
Significant activities |
The Charity continues to pursue a community-focused approach, providing funding and travel assistance to children in the community to allow them to attend one of a number of schools we partner with and working with local families in connection with a number of initiatives (such as distributing water filters to families within the community to allow for clean water, working with women with HIV/AIDS, providing regular support to over 35 families within the community). |
The Charity has donated significant funds to "Doxa International", the Kenyan CBO (Community Based Organisation) that co-ordinates the work within the local community, to assist with various projects and a significant child education programme. The charity continues to support Doxa International in farming the two plots of land that help provide food for the local community. |
Public benefit |
The trustees consider that they have complied with the duty regarding Public Benefit as detailed in section 4 of the Charities Act, having due regard to guidance published by the Charity Commission. |
The Doxa Project Limited (Registered number: 07917747) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Following on from the building of the community centre in 2022, much of 2023 was spent working with the "Doxa International" team in Kenya on internal decorating and completing the external landscaping around the building. We had teams from the UK visit Kenya in May and November of 2023 to work on this. Another building at the front of the plot was also refurbished to be used for the sponsorship scheme breakfast club and fellowship meetings. Significant funds were donated towards this work. Many of those who have been to Kenya from the UK as part of a Doxa Project team will also spend time within the community and visiting our projects. |
The two farm plots owned by "Doxa International" continue to be farmed. The drilling of a borehole took place in April 2023 on the land and it is planned that we will assist with the funding for the remaining stages of this borehole project in due course. The borehole will provide regular water for the farm as well as the local community. |
The donations towards the work of The Doxa Project continue to increase and we have received a number of new monthly donors that enable us to continue to support the work of "Doxa International" in Kenya. This includes increasing the number of children within the child sponsorship scheme and supporting more families within the community of Kwa Murugi. |
We also have Trustees and supporters in the UK who make regular visits to various meeting groups as part of our fundraising and awareness initiatives. Each year we produce a print newsletter that informs our supporters of our recent, current and proposed work with the community of Kwa Murugi. |
FINANCIAL REVIEW |
Reserves policy |
The trustees agreed that in addition to funding school fees for the sponsored children, funds would be spent at the appropriate time on community projects. In conjunction with our partners in Kenya, "Doxa International", a monthly budget continues to be provided to enable the work in the community to continue. The monthly amount gifted by the Charity to "Doxa International" was used for things such community centre running costs, monthly food parcels, contributions to the wages of five "Doxa International" employees and other emergency needs. |
As of 31st January 2024, there are 70 children that have their education funded by The Doxa Project including 15 that are now attending secondary school. A monthly amount to cover all the school fees is now sent out to "Doxa International" who oversee the progress of the children. |
FUTURE PLANS |
The building of a multi-purpose community centre, to help educate and resource the wider local community in areas of leadership, adult training and apprenticeships began in November 2022 and the internal decoration was largely completed by the end of 2023. In January 2024 we began to utilise the new building and this included the computer classroom, bike workshop, kitchen and large gathering space. |
We continue to build relationships with other organisations in and around Nakuru, seeking to help communities like Kwa Murugi. |
It is planned that the next stages of the borehole project will begin towards the end of 2024. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its governing document, its articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
The Doxa Project Limited (Registered number: 07917747) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Recruitment and appointment of new trustees |
New trustees are appointed by the existing trustees and serve until required by the articles of association ("Articles") to retire and stand for reappointment. The articles of the Charity provide for a minimum of 3 trustees. Trustees recruit new trustees on the basis of their experience, their empathy towards the Charity's aims and their willingness to act. Trustees also consider the skills of potential new trustees and how those skills would benefit the Charity as a whole (for example, a potential new trustee who has previously managed the construction of educational facilities abroad would have valuable insight relevant to the Charity's aims). |
The induction process for new trustees involves an initial meeting with the Chairman of the board who provides the new trustee with relevant information regarding the history and background pertaining to the Charity and its projects, followed by a separate meeting with all trustees who are available to answer any questions the new trustee may have. New trustees are given as much written information relating to the Charity as possible, including: (a) a brief history of the Charity; (b) information about the Charity's current project(s); (c) copies of minutes of recent trustee meetings; (d) a copy of the Articles; (e) copies of the Charity's Commission's guidance papers "The Essential Trustee: What You Need to Know, What You Need To Do" and "Charity Trustee: What's Involved"; and (f) copies of the previous years' annual reports and accounts. |
Organisational structure |
Trustees meet regularly and at least, as a whole group, 3 times a year. At trustee meetings the trustees agree immediate and long-term strategy and consider current areas of activity. This involves consideration of current funding levels, anticipated use of funds, recent and proposed fundraising efforts, any immediate needs raised in connection with the Charity's current project(s) and risk management concerns, policies and procedures. Trustees make decisions together on a majority basis, but do delegate the day to day administration of the Charity's funds to the Chairman as and where needed given that an immediate and pressing need for funds can arise at any time of day or night (such as for breakdown expenses in relation to the vehicle maintained by "Doxa International". Where funds are required at short notice, the Chairman informs all trustees in writing as soon as reasonably practicable (ideally prior to but sometimes after the transfer of such funds). |
Risk management |
The trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The major operational risk to the Charity is the extent to which the funds sent abroad to be applied towards specific costs are indeed applied towards meeting those costs. The trustees manage this risk by maintaining regular (at least daily and more often than not multiple times a day) contact with the recipient of the funds transfer, who is tasked with reporting purchases and payments made with funds supplied by the Charity to the trustees and providing receipts and confirmation of purchase as and where possible. The trustees also require sight of the book keeping records maintained by "Doxa International" to check amounts spent. In addition, the trustees work to ensure that a representative of the Charity (a trustee or, failing that, a person known to the trustees) visits at four times each year in order to check the accounting records and project progress, amongst other things. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
The Doxa Project Limited (Registered number: 07917747) |
Report of the Trustees |
for the Year Ended 31 January 2024 |
Trustees |
Independent Examiner |
J. Knights |
Knights Lowe Chartered Accountants |
Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The Doxa Project Limited |
Independent examiner's report to the trustees of The Doxa Project Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 |
4. | the accounts 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)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
J. Knights |
Knights Lowe Chartered Accountants |
Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
31 October 2024 |
The Doxa Project Limited |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 January 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 5 |
Resources expended | 12,642 | - | 12,642 | 8,706 |
Doxa Africa | 9,108 | 17,718 | 26,826 | 22,774 |
6,244 | - | 6,244 | 10,436 |
Land expenses | 10,958 | 38,219 |
Borehole | 10,535 | - | 10,535 | 899 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 13 | (7,628 | ) | 7,628 | - | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 24,077 |
The Doxa Project Limited (Registered number: 07917747) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 24,077 |
TOTAL FUNDS | 24,077 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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. |
The Doxa Project Limited (Registered number: 07917747) |
Balance Sheet - continued |
31 January 2024 |
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 |
The Doxa Project Limited |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
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. |
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. |
The presentational currency of these financial statements is pounds sterling (£), rounded to whole pounds. |
Going concern |
The trustees consider that no material uncertainties relating to events or conditions that may cast significant doubt upon the charity's ability to continue as a going concern exist. Therefore these financial statements are prepared on the going concern basis. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, with changes recognised in the Statement of Financial Activities. |
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. |
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. |
Governance costs |
Governance costs represent the administrative costs incurred by the Charity during the year. |
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. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Gift aid |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Fundraising events |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
5. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 6) | Totals |
£ | £ | £ |
Resources expended | 11,193 | 1,449 | 12,642 |
Doxa Africa | 26,826 | - | 26,826 |
Community | 6,244 | - | 6,244 |
Land expenses | 10,958 | - | 10,958 |
Borehole | 10,535 | - | 10,535 |
65,756 | 1,449 | 67,205 |
6. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Resources expended | 495 | 954 | 1,449 |
The above includes independent examination fees of £954 (2023: £954). |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
8. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Directors (trustees) |
No remuneration was paid to key management or trustees during the year (2023: £nil). |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Resources expended | 8,706 | - | 8,706 |
Doxa Africa | 5,760 | 17,014 | 22,774 |
10,436 | - | 10,436 |
Land expenses | - | 38,219 |
Borehole | - | 899 | 899 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | (9,823 | ) | 9,823 | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 45,740 | - |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 24,077 | - | 24,077 |
10. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 February 2023 and 31 January 2024 |
AMORTISATION |
At 1 February 2023 and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accrued expenses |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.2.23 | in funds | funds | 31.1.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 24,077 | 17,123 | (7,628 | ) | 33,572 |
Restricted funds |
Child and school sponsorship fund | - | (7,628 | ) | 7,628 | - |
TOTAL FUNDS | 9,495 | 33,572 |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
13. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 66,622 | (49,499 | ) | 17,123 |
Restricted funds |
Child and school sponsorship fund | 10,090 | (17,718 | ) | (7,628 | ) |
TOTAL FUNDS | ( |
) | 9,495 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.2.22 | in funds | funds | 31.1.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 45,740 | (11,840 | ) | (9,823 | ) | 24,077 |
Restricted funds |
Child and school sponsorship fund | - | (9,823 | ) | 9,823 | - |
TOTAL FUNDS | 45,740 | (21,663 | ) | - | 24,077 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 51,382 | (63,222 | ) | (11,840 | ) |
Restricted funds |
Child and school sponsorship fund | 8,090 | (17,913 | ) | (9,823 | ) |
TOTAL FUNDS | 59,472 | (81,135 | ) | (21,663 | ) |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.2.22 | in funds | funds | 31.1.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 45,740 | 5,283 | (17,451 | ) | 33,572 |
Restricted funds |
Child and school sponsorship fund | - | (17,451 | ) | 17,451 | - |
TOTAL FUNDS | 45,740 | (12,168 | ) | - | 33,572 |
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 | 118,004 | (112,721 | ) | 5,283 |
Restricted funds |
Child and school sponsorship fund | 18,180 | (35,631 | ) | (17,451 | ) |
TOTAL FUNDS | 136,184 | (148,352 | ) | (12,168 | ) |
RESTRICTED FUND |
Child and school sponsorship |
The charity receives regular donations from individuals which are to be used to sponsor children in a school in Kenya. These donations and the payments to the school are included as a separate fund. The charity also makes payments to the school in accordance with its charitable objectives with any excess expenditure financed by a transfer from unrestricted funds. |
The Doxa Project Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
14. | RELATED PARTY DISCLOSURES |