Finances

In years 1 and 2 Home Leone turned over £190,000 ($240,000) and £300,000 ($380,000) respectively. In year 3 it was £285,000 ($360,000) and year 4 £500,000 ($675,000).  To build Destiny village and move the first 2,000 people will cost £5m ($6.25m).  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 32 homes, each house  direct cost budget is £5,750 ($7,750).  In addition, the land cost £350 ($450) per unit.  Site costs and the delivery of the project calls for an overhead recovery meaning we can deliver these homes at a full cost of less than £7,999 ($10,000).

The schools, health centre and other community infrastructure budgets are available on request.  Nigel Hyde, 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 4 independent year end financial reviews. Financial statements are available on request. Yorkshire Bank is the charity’s bankers in the UK and UBA in Sierra Leone.

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.

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.

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