The trustees present their report and financial statements for the year ended 31 July 2024.
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 Memorandum and 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) (effective 1 January 2019)".
The charity is controlled by its governing document, a trust deed, and constitutes a limited company, limited
by guarantee, as defined by the Companies Act 2006.
A Call to Business was established as a registered charity on 27 November 2001 and a limited company on 5
July 2001. The Trustees have met regularly during the year to review progress and activities.
The trustees, who are also the directors for the purpose of company law, and who served during the year
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.
Affiliation
The charity is not affiliated to any other charity.
Trustee Induction and Training
There is no formal induction and training for Trustees. However, the existing Trustees inform a potential Trustee about the charity's mission before any appointment with a view to the potential Trustee helping to achieve the set goals and objectives of the charity. At least two Trustees' meetings are held in a year at which the Trustees are allowed to raise and discuss various issues.
Organisational Structure
The Trustees of the Charitable Company, are legally responsible for the overall governance and control and they come together at full Board meetings at least twice a year. Trustees are appointed for an unspecified period, any vacancies being filled by the selection and appointment of suitable persona by the Trustees.
Relationships with related parties
The Charity has a non-charitable subsidiary which is a dormant company.
Risk Management
The Trustees continuously seek to identify or review major risks to which the charity may be exposed on an
ongoing informal basis, documenting them as appropriate. Once identified, systems and procedures for
monitoring and mitigating risks are put into place.
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit and in deciding what activities the Charity should undertake.
The Charitable Company's Objectives, as set out in its Memorandum and Articles of Association, are the promotion of faith in the Lord Jesus Christ in the marketplace and, in particular:
to provide support to Christians working in the business sector through the provision of discipleship training courses, networking opportunities and by promoting the establishment of prayer groups;
to organise talks, seminars and other evangelistic events aimed at making known the gospel of Jesus Christ to business people; and
to promote the importance of family and accordingly to encourage businesses to support working practices which enable individuals to strike a healthy balance.
To provide advice, resources and services to those affected by social and economic circumstances including the set up or administration of any educational establishments.
To develop and maintain development projects in small scale economic developments including the establishment of a credit union or other microfinance initiatives.
To establish mentoring programmes to equip people for life and to provide programmes to help the reintegration of marginalised and excluded peoples back into society.
To facilitate encourage and empower men and women into work through the provision of various support initiatives.
To develop, equip and empower people to be people of integrity in order to face the challenges associated with their roles in society.
A Call to Business has continued to network with Christian business people seeking to apply their faith in and through business. Much of the organisation’s resource and efforts have been channelled toward the development work in Sierra Leone.
The charity continues to provide mentoring and support to businesses and a rural community programme in Sierra Leone. During the year donations were received by the organisation to further develop its rural community development project in Rogbere, Sierra Leone. This funding is being deployed to expand the school facilities, enhance the orphanage and establishing a football academy. The focus of the charity remains to fund the ongoing work in Sierra Leone and much effort is being made to stimulate donor funding from the UK for this purpose.
Overall position:
- Total incoming resources of £539,012 (2023: £159,182)
- Total outgoing resources of £304,834 (2023: £170,088); and
- Funds of £415,168 (2023: 190,046) at the balance sheet date.
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of A Call to Business (‘the charitable company’) for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet, and the notes to financial statements, including a summary of significant accounting policies.
As the trustees of charitable company 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 charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
I have completed my examination. I confirm that no material 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 charitable company 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 financial statements 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).
Voluntary income
Investments
Raising funds
Provision of support
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
A Call To Business is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.
The accounts have been prepared in accordance with 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 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 applying FRS 102 Update Bulletin 1 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 accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The financial statements have been prepared on the basis that the fundamental accounting concept of going concern is applied. The Charity is expected to receive sufficient funds that will allow it to continue its operations for a period of at least 12 months from the approval date of these financial statements.
On the basis of the foregoing the Trustees consider that the going concern concept continue to be appropriate and has therefore been applied.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
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.
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.
Grant income is recognised once unconditional entitlement to the funds has passed to the charity, i.e. at the later of receipt or the point that performance related conditions are met. If such conditions are partially fulfilled at the balance sheet date, such income is deferred and recognised as a creditor on a systematic basis consistent with the completion of performance related conditions.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.
Unlisted equity investments are initially measured at transaction price and are subsequently measured at fair value at each reporting date. Fair value is determined by reference to the most recent transactions of the entities equity. Increases in fair value are recognised in other comprehensive income, decreases in fair value are recognised in profit and loss. Transaction costs are expensed to or as incurred. This treatment is permitted by FRS 102 and has been adopted to provide a true and fair view. It represents a departure from Companies Act 2006. Where there is deemed to be no reliable fair value, investments are carried at historical cost less impairment.
Debt investments held by the company are initially recognised at transaction price and subsequently at amortised cost.
Cash and cash equivalents include cash in hand and deposits held at call with banks.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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 loans from related parties, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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.
Voluntary income
Grants receivable
Investments
Raising funds
Fundraising
Provision of support
Provision of support
Project expenditure (restricted)
Insurance
Computer Software
Travel Expenses
Bank Charges
Publicity & Outreach
Sundry expenses
The average monthly number of employees during the year was:
The Charity did not pay remuneration to any Trustee or key management personnel or reimburse expenses during the year (2023: £nil).
Accountancy
Based on proportion of time spent on each charitable activity.
Legal and professional fees
Based on proportion of time spent on each charitable activity.
Management fees
Based on proportion of time spent on each charitable activity.
Secretarial Fees
Based on proportion of time spent on each charitable activity.
The charity holds more than 50% of the share capital, or otherwise exercises control over the following companies:
Name of Undertaking Country of Incorporation Nature of Business Class Held
A Call To Business Trading (UK) Ltd England & Wales Dormant Ordinary 100%
The aggregate capital and reserves and the results of subsidiaries excluded from consolidation are shown below:
Name of Undertaking Profit/(Loss) Capital and Reserves Date
A Call To Business Trading (UK) Ltd £nil £100 As at 31 May 2024
The funds of the charity include restricted funds comprising the following projects for which funds are held on trust for specific purposes:
Incoming resources
Resources expended
Incoming resources
Resources expended
The following work was carried out by the charity with restricted funds during the year:
a = A Call to Business receives donations to be made to the foundation which manages a 60-acre rural community development area with junior and senior secondary schools, an orphanage and two commercial businesses on the site. Funding is provided by private UK individuals and UK and international grant makers to support operational costs such as feeding 350 students every day, providing equipment for the schools and orphanage and in improving the infrastructure on site.
b = A Call to Business has received donations that will be used to fund a scholarship in honour of a former employee of the charity. This funding will be used to empower the specific development of entrepreneurs in the UK.
c = A Call to Business has received donations that will be used to fund meals for the students and orphans living on site in Rogbere, Sierra Leone.
d = A Call to Business has received donations that will be used to fund the Polish foundation and healthcare for individuals requiring economic support in the UK and/or Ukraine.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At the balance sheet date, the Charity owed a trustee, Mr P N Szkiler, £42,406 (2023: £42,406).
The Charity owed £857 (2023: £146,483) to Truestone Impact Investment Management Limited, a company in which Mr P N Szkiler has majority control, at the balance sheet date.
The Charity owed £3,400 (2023: £3,400) to Truestone Africa Limited, a company in which several trustees are shareholders, at the balance sheet date.
At the balance sheet date, the Charity owed a trustee, Mr I R Tanner, £23,750 (2023: £23,750).
At the balance sheet date, the Charity owed it's subsidiary undertaking, A Call To Business Trading (UK) Limited, £100 (2023: £100).
The Charity owed £15 (2023: £2,888) to Truestone Impact Consulting Limited, a company in which Mr P N Szkiler has majority control, at the balance sheet date. Truestone Impact Consulting Limited charged the Charity management fees of £Nil (2023: £3,600) in the year.
During the year donations from trustees totalling £1,000 (2023: £600) were received.