Finances
In our first 8 years, Home Leone has raised over £3.8m ($5.1m). The majority has been sourced primarily from about 25 kind individuals, trusts and foundations together with our growing construction social enterprise . We have been given huge value through gifts in kind (shipping over 16 containers) and our other businesses, which address the livelihood challenge, also contribute. We have had no government or institutional support thus far.
To build out Destiny village and move the first 2,500 people will cost £8m ($10m). However, as our starfish value proclaims, we look to move one family at a time as fast as funding allows.
We have detailed budgets for each section of the development. After detailed design and building the first 60 homes, each 2 bed house average direct cost was £6,000 ($8,000). These however are still not low cost enough so by maximising local content and innovative building we can now deliver a 2 bed house for £4,500 ($5,500). We have designed and have budgets for other home sizes, schools etc for the village development and replication beyond. We would be delighted to share budgets and opportunities as transparency and accountability is important to us.
Our founder, Nigel Hyde MBE, is a Chartered Accountant, and has a passion for financial transparency. If you have any questions simply ring us today.
Each business also has developed business plans and cash flows as we seek to develop a sustainable community.
Out accountants, Bennewith & Co of Guildford, Surrey, have completed our independent year end financial reviews. Financial statements are available on request. We hold bank accounts for each of our 3 NGO’s in the UK, USA and Sierra Leone. For year ended 30 April 2022, our turnover was £912,104 – 2021 – £451,873.
Note that the significant fluctuation in exchange rate make currency comparatives difficult. In April 2014 £1 was $1.6 and 6,800 Leones. In June 2017, £1 is $1.25 and 9,200 Leones. In June 2018, it was £1 to $1.35 and 10,300 Leones. In June 2020, £1 is 12,350 Leones and $1.27. In June 2021, 14,250 ad $1.3 whilst June 2022 saw 16,200 Leones and $1.2 to the pound. By December 2022 the government took 3 zeros off the currency and it reached over 20 (20,000) to the £1.
We have been given large quantities of equipment and materials. The directors make appropriate assessments as to the value used in the accounts. They are deeply grateful for such valuable contributions.
