Foundation for East African Development and Education F.E.A.D.E Ltd - Filleted accounts

Foundation for East African Development and Education F.E.A.D.E Ltd - Filleted accounts

FOUNDATION FOR EAST AFRICAN DEVELOPMENT AND EDUCATION F.E.A.D.E. LTD - Company Information

Print Friendly Version

Registered number
06374473
Foundation for East African Development and Education F.E.A.D.E Ltd
Filleted Accounts
30 September 2021
Foundation for East African Development and Education F.E.A.D.E Ltd
Registered number: 06374473
Balance Sheet
as at 30 September 2021
Notes 2021 2020
£ £
Current assets
Cash at bank and in hand 10,796 9,388
Creditors: amounts falling due within one year 3 (247) (240)
Net current assets 10,549 9,148
Net assets 10,549 9,148
Funds of the charity
Unrestricted funds
General funds 10,549 9,148
Total Funds 10,549 9,148
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G G Green
Director
Approved by the board on 6 June 2022
Foundation for East African Development and Education F.E.A.D.E Ltd
Notes to the Accounts
for the year ended 30 September 2021
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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) - Charities SORP (FRS 102) (effective 1 January 2015) - the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous periods
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting
Unrestricted funds:
These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds:
These are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation funds:
These are unrestricted funds which include a revaluation reservere presetning the restatement of investment assets at their market values.
Restricted funds:
These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income
Recognition of income:
Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related expenditure:
Where income has related expenditure the income and related expenditure is reported gross in the SoFA.
Donations and legacies
Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the charity has unconditional entitlement to the income.
Tax reclaims on donations and gifts
Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates.
Donated services and facilities
These are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income
This is included in the accounts when receivable.
Gains/(losses) on revaluation of fixed assets
This includes any gain or loss resulting from revaluing investments to market value at the end of the year.
Gains/(losses) on investment assets
This includes any gain or loss on the sale of investments.
Expenditure
Recognition of expenditure:
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising funds:
These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
Expenditure on charitable activities:
These comprise the costs incurred by the charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable:
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustess at the end of the year but not yet paid.
Governance costs:
These include those costs associated with meeting the constitutional and statutory requirements of the charity, including any audit/independent examination fees, costs linked to the strategic management of the charity, together with a share of other administration costs.
Other expenditure:
These are support costs not allocated to a particular activity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the statement of cashflows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 0 0
3 Creditors: amounts falling due within one year 2021 2020
£ £
Other creditors 247 240
4 Other information
Foundation for East African Development and Education F.E.A.D.E Ltd is a private company limited by guarantee and incorporated in England. Its registered office is:
2 Connaught Road
Sidmouth
Devon
EX10 8TT
Foundation for East African Development and Education F.E.A.D.E Ltd 06374473 false 2020-10-01 2021-09-30 2021-09-30 VT Final Accounts April 2022 G G Green No description of principal activity 06374473 2019-10-01 2020-09-30 06374473 core:WithinOneYear 2020-09-30 06374473 core:RetainedEarningsAccumulatedLosses 2020-09-30 06374473 2020-10-01 2021-09-30 06374473 bus:RegisteredCharity 2020-10-01 2021-09-30 06374473 bus:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 06374473 bus:Director40 2020-10-01 2021-09-30 06374473 1 2020-10-01 2021-09-30 06374473 2 2020-10-01 2021-09-30 06374473 countries:England 2020-10-01 2021-09-30 06374473 bus:FRS102 2020-10-01 2021-09-30 06374473 bus:FullAccounts 2020-10-01 2021-09-30 06374473 2021-09-30 06374473 core:WithinOneYear 2021-09-30 06374473 core:RetainedEarningsAccumulatedLosses 2021-09-30 06374473 2020-09-30 iso4217:GBP xbrli:pure