HOSPITALS FOR AFRICA (HOFA) Charity Accounts

HOSPITALS FOR AFRICA (HOFA) - Company Information

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COMPANY REGISTRATION NUMBER: 5845869

CHARITY REGISTRATION NUMBER: 1116674

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Unaudited Financial Statements

30 June 2021

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Financial Statements

Year ended 30 June 2021

	Page

Director's annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Notes to the financial statements	6

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Director's Annual Report (Incorporating the Director's Report)

Year ended 30 June 2021

The director, who is also the director for the purposes of company law, presents his report and the unaudited financial statements of the charity for the year ended 30 June 2021 .

The charity has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the charity will remain dormant for the foreseeable future.

Reference and administrative details

Registered charity name	HOSPITALS FOR AFRICA (HOFA)

Charity registration number	1116674

Company registration number	5845869

Principal office and registered	5 Greenwich Quay
office	Clarence Road
	London
	SE8 3EY

The director

	Mr H Koranteng

Company secretary	N/A

Structure, governance and management

Governing Document

Hospitals for Africa (Hofa)is a company limited by guarantee governed by its Memorandum and Articles of Association dated 14 June 2006 as amended on 14 October 2006. It was registered as a charity with the Charity Commission on 7 November 2006.

Appointment of directors and trustees

All the directors of the company are also trustees of the charity.

As set out in Articles and Memorandum of Association the number of trustees shall not be less than two and shall not be subject to any maximum. Currently there are three trustees who meet regularly to administer the charity.

Objectives and activities

The objects of the charity are:

i) the relief of sickness and the preservation of health in Africa

ii)to receive cash donations and raise funds for distribution to hospitals in Africa. The charity has a general aim of contributing to the health, well-being and quality of life of the poor in Africa as whole, and particularly in the Osun State of Nigeria, The main strategies employed to achieve it's objective continue to be the raising of funds and donating funds towards the construction of a hospital and school of nursing.

Achievements and performance

There was no activity during the year.

Financial review

The trustees have not as yet put in place a reserves policy.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The director's annual report was approved on 31 March 2022 and signed on behalf of the board of trustees by:

Mr H Koranteng
Director

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 30 June 2021

	2021		2020
	Unrestricted funds	Total funds	Total funds
Note	£	£	£
	----	----	----
Total income	–	–	–
	----	----	----
	----	----	----
Total expenditure	–	–	–
	----	----	----
	----	----	----
Net income	–	–	–
	----	----	----

Reconciliation of funds

Total funds brought forward	21,286	21,286	21,286
	--------	--------	--------
Total funds carried forward	21,286	21,286	21,286
	--------	--------	--------

No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year or prior year.

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Statement of Financial Position

30 June 2021

	2021	2020
Note	£	£

Current assets

Debtors	7	12,800	12,800
Cash at bank and in hand		16,829	16,829
		--------	--------
		29,629	29,629

Creditors: amounts falling due within one year	8	8,343	8,343
		--------	--------
Net current assets		21,286	21,286
		--------	--------
Total assets less current liabilities		21,286	21,286
		--------	--------
Net assets		21,286	21,286
		--------	--------

Funds of the charity

Unrestricted funds		21,286	21,286
		--------	--------
Total charity funds	9	21,286	21,286
		--------	--------

For the year ending 30 June 2021 the charity was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 31 March 2022 , and are signed on behalf of the board by:

Mr H Koranteng
Director

HOSPITALS FOR AFRICA (HOFA)

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 5 Greenwich Quay, Clarence Road, London, SE8 3EY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Statement of financial activities (including income and expenditure account)

The entity is dormant as defined by section 1169 of the Companies Act 2006. The entity incurred no significant transactions during the current year or prior year.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the director for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The company is limited by guarantee. Members required to make a contribution of £1 in the event of a winding up.

5. Staff costs

The average head count of employees during the year was Nil (2020: Nil).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

6. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity were received by the trustees.

7. Debtors

	2021	2020
	£	£
Other debtors	12,800	12,800
	--------	--------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	600	600
Accruals and deferred income	7,743	7,743
	------	------
	8,343	8,343
	------	------

9. Analysis of charitable funds

Unrestricted funds

	At 1 July 2020 and 30 June 2021
	£
General funds	21,286
	--------

	At 1 July 2019 and 30 June 2020
	£
General funds	21,286
	--------