Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Bongiwe Njobe
Aggrey Agumya
Cliff Dlamini
Adel AbdElazzim
Janet Ngombalu
Elizabeth Nsimadala
Kennedy Mukulia Ayason
Anthony Boateng
Simeon Ehui
Christoph Larose
Philip Boahen

The director shown below has held office during the period of
1 January 2024 to 31 October 2024

Alioune Fall

The director shown below has held office during the period of
1 January 2024 to 30 June 2024

Enock Warinda

The directors shown below have held office during the period of
1 October 2024 to 31 December 2024

Sylvester Baguma
Moumini Savadogo

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
8 September 2025

And signed on behalf of the board by:
Name: Bongiwe Njobe
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2024

	2024	2023
	£	£
Turnover:	5,953,730	3,175,746
Cost of sales:	( 5,582,571 )	( 2,754,165 )
Gross profit(or loss):	371,159	421,581
Distribution costs:	0	0
Administrative expenses:	( 288,788 )	( 494,521 )
Operating profit(or loss):	82,371	(72,940)
Interest receivable and similar income:	0	0
Interest payable and similar charges:	0	0
Profit(or loss) before tax:	82,371	(72,940)
Tax:	0	0
Profit(or loss) for the financial year:	82,371	(72,940)

Balance sheet

As at 31 December 2024

	Notes	2024	2023
		£	£
Fixed assets
Tangible assets:	3	0	576
Investments:		0	0
Total fixed assets:		0	576
Current assets
Stocks:	4	8,636	5,865
Debtors:	5	572,201	749,710
Cash at bank and in hand:		1,282,643	2,026,009
Investments:		0	0
Total current assets:		1,863,480	2,781,584
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	6	( 1,109,222 )	( 2,118,875 )
Net current assets (liabilities):		754,258	662,709
Total assets less current liabilities:		754,258	663,285
Total net assets (liabilities):		754,258	663,285
Members' funds
Profit and loss account:		754,258	663,285
Total members' funds:		754,258	663,285

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue from non-Exchange transactions Donor Grants Grants received are recognized on a gross basis over the period necessary to match them with the costs that they are intended to compensate and when there is reasonable assurance that the organization will comply with the conditions attached to the grants, but not prior to formal grant approval. These grants are separately presented in the statement of financial performance as revenue Grants may be restricted (specific purposes) or unrestricted (general or administrative purposes) Restricted grants attached to Specific projects and programs are recognized as revenue when actually expended and the unspent portion is deferred as donors’ payable for the future year depending on the duration of the Project or activity. Unrestricted grants are recognized as revenue from donations when the amount is confirmed or received. Any excess of revenue over expenditure arising from unrestricted grant is transferred to the Accumulated fund. On the other hand, any unutilized restricted funds will have to be transferred to the donor or there should be an express notification from the donor to use the unutilized funds for unrestricted purposes. Revenue from exchange transactions Other Revenue Other revenues are recognized at the time of receipt Such revenues include revenue generated by providing services to third parties, Interest earned from the Secretariat’s fund in bank accounts. administrative overhead charges on time-bound projects, proceeds from the sale of FARA' s assets and any other miscellaneous items.

  Tangible fixed assets depreciation policy

  Depreciation is calculated on a straight-line basis at rates estimated to write off the cost of each asset over the estimated term of its useful life. No deprecation is charged in the year of disposal. The depreciation charge for each year is recognized in the statement of financial performance. Property, plant and equipment acquired through the use of restricted grants for certain projects shall be recorded as an asset but such assets are to be depreciated at 100% and the depreciation expense charged directly to the appropriate restricted project.

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 2. Employees

  	2024	2023
  Average number of employees during the period	26	25