Africa Lands Trust - Charities report

REGISTERED COMPANY NUMBER: 03420027 (England and Wales)

REGISTERED CHARITY NUMBER: 1072068

Report of the Trustees and

Unaudited Financial Statements

for the Period 1 September 2023 to 29 August 2024

for

Africa Lands Trust

Page

Report of the Trustees

1

Statement of Financial Activities

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

9

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

14a Wednesday Market

Beverley

East Yorkshire

HU17 0DH

Trustees

D A Murden (deceased 24.8.25)

C Saint

K M Wilson

G McCormick

P A Harris

J R Nicholson

Approved by order of the board of trustees on 1 December 2025 and signed on its behalf by:

C Saint - Trustee

Period

1.9.23

to

Year Ended

29.8.24

31.8.23

Unrestricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,148

879

EXPENDITURE ON

Charitable activities

3,469

15,621

Other

-

2,277

Total

3,469

17,898

NET INCOME/(EXPENDITURE)

(2,321

)

(17,019

)

RECONCILIATION OF FUNDS

Total funds brought forward

8,860

25,879

TOTAL FUNDS CARRIED FORWARD

6,539

8,860

2024

2023

Unrestricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

5

1,140

1,520

Investments

6

1

1,141

1,521

CURRENT ASSETS

Stocks

7

849

Cash at bank

5,089

6,670

5,938

7,519

CREDITORS

Amounts falling due within one year

8

(540

)

(180

)

NET CURRENT ASSETS

5,398

7,339

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,539

8,860

NET ASSETS

6,539

8,860

FUNDS

9

Unrestricted funds

6,539

8,860

TOTAL FUNDS

6,539

8,860

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 August 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 August 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.

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 1 December 2025 and were signed on its behalf by:

C Saint - Trustee

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.

2.	NET INCOME/(EXPENDITURE)

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

Period

1.9.23

to

Year Ended

29.8.24

31.8.23

£

Depreciation - owned assets

380

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 29 August 2024 nor for the year ended 31 August 2023.

Trustees' expenses

There were no trustees' expenses paid for the period ended 29 August 2024 nor for the year ended 31 August 2023.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

879

EXPENDITURE ON

Charitable activities

15,621

Other

2,277

Total

17,898

NET INCOME/(EXPENDITURE)

(17,019

)

RECONCILIATION OF FUNDS

Total funds brought forward

25,879

TOTAL FUNDS CARRIED FORWARD

8,860

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 September 2023 and 29 August 2024

4,400

DEPRECIATION

At 1 September 2023

2,880

Charge for year

380

At 29 August 2024

3,260

NET BOOK VALUE

At 29 August 2024

1,140

At 31 August 2023

1,520

6.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 September 2023 and 29 August 2024

1

NET BOOK VALUE

At 29 August 2024

1

At 31 August 2023

1

There were no investment assets outside the UK.

7.

STOCKS

2024

2023

£

Stocks

849

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Accrued expenses

540

180

9.	MOVEMENT IN FUNDS

Net

movement

At

At 1.9.23

in funds

29.8.24

£

Unrestricted funds

General fund

8,860

(2,321

)

6,539

TOTAL FUNDS

8,860

(2,321

)

6,539

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

1,148

(3,469

)

(2,321

)

TOTAL FUNDS

1,148

(3,469

)

(2,321

)

Comparatives for 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

Comparative 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

)

10.	RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 29 August 2024.