**Registered Charity 1015255**
## **CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUSTEES REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31st DECEMBER 2023**
**CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023**
|**CONTENTS**|**Page**|
|---|---|
|Trust Information|3|
|Trustees Report|4-6|
|Independent Examiners Report|7|
|Statement Of Financial Affairs|8|
|Balance Sheet|9|
|Notes To The Accounts|10-12|
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUST INFORMATION**
## **Principal Addresses**
## Registered Address
49 Barncliffe Crescent Sheffield S10 4DA
Bankers:
Charity Aid Foundation Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ
CCLA Investment Management Limited One Angel lane London EC4R 3AB
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## **CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31st DECEMBER 2023**
The Trustees of the Chengelo Educational Trust (UK) present their annual report and the accounts for the year ended 31st December 2023.
## **STATUS**
The Chengelo Educational Trust (UK) is a registered charity (No. 1015255) set up by a trust deed on 20th November 1992.
## **OBJECTS**
The objects of the Charity are the advancement of Religion by way of the Evangelical Christian Faith and the advancement of Education of the pupils at Chengelo School, Zambia.
## **TRUSTEES**
The Trustees during the year were:
Chairman Mr R L Hobden Hon. Secretary Mr S Banister Treasurer Mr R J Wade Other Trustees: Mr S B Baker Mr C N Muwowo Miss M Germany Mr M G Hackston Dr T Booth Miss H Flanders Mr G W Guilliatt (Resigned 23 Mr L Muchimba October 2023)
## **PRINCIPAL ACTIVITIES AND REVIEW OF FINANCIAL POSITION**
During 2023 the Trustees met twice, on the 21st April and on 21st October.
Our Annual Fellowship day was held on 22nd April 2023 in person at The Crossing in Walsall, for the first time since 2019, with attendees also able to join remotely. The Fellowship day enables Trust supporters to be updated on the recent activities and progress, and to meet and share fellowship together. It has been particularly encouraging for the charity to be able to connect with more supporters due to the ease of connecting virtually.
The financial position of Chengelo Educational Trust (UK) is set out in the Accounts on pages 8 to 12. The surplus for the year was £15,990 (2022 deficit £40,600). At the year end the funds held by the Trust amounted to £156,296 (2022 £140,306).
During the year the Trust continued to receive donations from supporters and was able to send financial support to the school for a number of purposes. As the Trust had built up considerable reserves the Trustees are actively looking at ways these fund can be used to support Chengelo School.
Reserves Policy. As the trust has no operational commitments the trustees have no set reserve balance and will look to use the funds raised to meet its objectives.
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31st DECEMBER 2023**
## **The Trust's work in support of the school**
The trust continued to be active in a number of areas where support was particularly requested by the school:
## **1 Bursary Fund:**
This fund exists to support children whose family circumstances do not permit the payment of the full fees for their education. This fund was originally set up with the intention that the income from the fund would provide the financial resources required. In the light of current interest rates this is not possible. Nevertheless the trust has sent £8,000 this year (2022 £7,500) towards this need. As at 31st December 2023 the Trust had £28,454 (2022 £35,794) to support this objective.
## **2 Staff Support Fund**
This fund is to provide financial assistance to staff and in particular those from the UK. During the year the trust sent £6,296 (2022 £4,659) to the school to subsidise the cost of emergency travel & health insurance for UK staff. At 31st December 2023 the balance of this fund was £59,134 (2022 £56,891).
## **4 General Fund**
The majority of this fund is derived from donations from individuals, groups and organisations who wish to support the work of the Trust, and the Trustees are very grateful to them. The General Fund enables the Trustees to support specific needs which arise at the school from time to time. During the year the Trust sent £19,550 (2022 £27,250) to the school from this fund. At 31st December 2023 the General Fund had a balance of £68,058 (2022 £42,783).
## **5 Newsletters**
During the year two newsletters, under the title 'Imbila', were produced by the Trust during the year. These provide an update to Trust supporters on the work of the Trust
## **6 Reserves**
Restricted Reserves are those donated for specific purposes. The charity is obliged to distribute those Reserves for the purposes for which they were donated. General Reserves are held to pay for the costs of running the Charity, and held so that the charity can respond to requests for financial assistance as, and when, they arise. At the Year end Restricted Reserves amounted to £88,238 (2022 £97,523) and the General Reserves £68,058 (2022 £42,783). The Trustees consider that the level of General Reserves is sufficient for known and anticipated requirements.
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **TRUSTEES REPORT FOR THE YEAR ENDED 31st DECEMBER 2023**
The charity holds sterling funds on behalf of Chengelo School. The funds are currently maintained in a CAF bank account.
During the year the trust continued to assist former head girl, Stephanie Nyambe. Funds were raised to support Stephanie through her final years at university in the UK and were held by the trust on behalf of Stephanie to support her finiahing her studies int he UK. She has now graduated and is working in the UK.
The charity's trustees consider that they have complied with their duty to have due regard to the guidance on public benefit (as published by the Charity Commission) in exercising their powers or duties, and with regards to their obligations for safeguarding.
New trustees are invited to join the existing Trustee body on the basis of their skills and personal attributes.
## **By Order Of The Trustees**
**Mr R L Hobden 12 August 2024**
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## **CHENGELO EDUCATIONAL TRUST (UK)**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHENGELO EDUCATIONAL TRUST (UK)**
## **(Charity No. 1015255)**
I report to the Trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31st December 2023 which are set out on pages 8 to 12.
## Responsibilities and basis of report
As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the "Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention with the examination which gives me cause to believe that, in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an Independent Examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Simon Rolfe Date: 14 August 2024 122 Free Trade Wharf 340 The Highway Wapping London. E1W 3EU.
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## **CHENGELO EDUCATIONAL TRUST (UK)**
## **STATEMENT OF FINANCIAL AFFAIRS FOR THE YEAR ENDED 31st DECEMBER 2023**
|Note
Unrestricted
Funds
£
**Income and endowments from:**
Donations
2
15,973
Fundraising
2
1,947
Legacy
8
14,900
Investments
6
163
**Total**
32,983
**Expenditure on:**
Charitable activities
3
22,324
**Total**
22,324
**Net gains/(losses) on investments**
6
14,616
**Net income/(expenditure)**
**and Net Movement in funds**
25,275
**Total funds brought forward**
42,783
**Total funds carried forward**
68,058|Restricted
Funds
£
1,510
-
-
1,337
2,847
19,334
19,334
7,202
(9,285)
97,523
88,238|2023
Total
Funds
£
17,483
1,947
14,900
1,500
35,830
41,658
41,658
21,818
15,990
140,306
156,296|2022
Total
Funds
£
10,962
73
2,963
2,448|
|---|---|---|---|
||||16,446|
||||42,594|
||||42,594|
||||(14,452)|
||||(40,600)
180,906|
||||140,306|
There were no other gains or losses for the year other than those shown in the above Statement The notes on pages 10 to 12 form part of the accounts
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **BALANCE SHEET FOR THE YEAR ENDED 31st DECEMBER 2023**
|Note
**Fixed Assets**
Investments
6
_Total fixed assets_
**Current Assets**
**Debtors**
7
Cash at Bank
_Total current assets_
**Creditors**
Amounts falling due within one year:
Funds held on behalf of the school
Funds held on behalf of S Nyambe
_Net current Assets/(Liabilities)_
**Total Net Assets**
**The funds of the charity:**
Unrestricted Funds
8
Restricted Funds
8|£
£
201,808
201,808
1,013
97,707
98,720
144,232
-
(45,512)
156,296
68,058
88,238
156,296
2023|£
£
178,653
178,653
-
107,769
107,769
144,232
1,884
(38,347)
140,306
42,783
97,523
140,306
2022|£
£
178,653
178,653
-
107,769
107,769
144,232
1,884
(38,347)
140,306
42,783
97,523
140,306
2022|
|---|---|---|---|
||||140,306|
||||42,783
97,523|
||||140,306|
The accounts were approved by the trustees on the 21st April 2023 and are signed on their behalf below. We confirm that the records produced, together with the information and explanations provided, constitute a true record of all the transactions of the Trust for the year ended 31st December 2022.
**R L Hobden** Chairman
**R Wade** Treasurer
The notes on pages 10 to 12 form part of the accounts
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023**
## **1 ACCOUNTING POLICIES**
## **a Basis of preparation**
The accounts have been prepared on a receipts and payments basis.
## **b Going Concern**
The Trustees have a reasonable expectation that adequate financial resources are available to enable the charity to continue for the next 12 to 18 months. Consequently the accounts have been prepared on the basis that the charity is a going concern.
## **c Income**
Income is recognised when the charity has received the funds.
**Unrestricted funds** are available to spend on the activities that further any purposes of the charity.
**Restricted Funds** represent income which the donor has specified to be only used for particular purposes.
## **d Expenditure**
Expenditure is recognised in the accounts when the charity has discharged the liability.
**Support Costs** are those which assist the work of the charity but do not directly relate to charitable activities.
## **e Cash at bank**
This includes current accounts and highly liquid investments.
|**2 **|**INCOME FROM DONATIONS AND FUNDRAISING**|**INCOME FROM DONATIONS AND FUNDRAISING**||2023|2022|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||Funds|Funds|Funds|Funds|
|||£|£|£|£|
||Donations|15,973|1,510|17,483|10,962|
||Fundraising|1,947|-|1,947|73|
In addition to monetary gifts the charity benefits from the involvement and support of many people for which it is very grateful.
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023**
## **3 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Direct Charitable Activities:**
Thomson Fund
Richardson Fund
Staff Support Fund
R Fellows fund
Bursary Fund
**Support Costs:**
Newsletter
Fellowship Day
Trustees expenses
Website costs
Other expenses
General support for Chengelo School
Capital projects
Workers Housing
Staff Training|2023
2022
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
19,000
-
19,000
11,250
-
-
-
16,000
550
-
550
-
-
550
550
600
-
1,200
1,200
-
-
6,296
6,296
4,659
-
3,288
3,288
-
-
8,000
8,000
7,500|
|---|---|
||19,550
19,334
38,884
40,009|
||1,075
-
1,075
2,128
150
-
150
-
1,004
-
1,004
-
31
-
31
-
514
-
514
457|
||2,774
-
2,774
2,585|
||22,324
19,334
41,658
42,594|
## **4 TRUSTEES REMUNERATION**
No trustees received remuneration for their services during the year. (2022 £Nil).
## **5 TRUSTEES EXPENSES**
The Trustees of the Charity live widely across the UK. The Trustee expenses shown in Note 3 of £1,004 (2022 £nil) represent the cost of travel and accommodation to enable the Trustees to attend the Trustees meetings and the annual fellowship days. In addition the trust supported one trustee to visit the school.
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**CHENGELO EDUCATIONAL TRUST (UK)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023**
|**6 FIXED ASSET INVESTMENTS**
Balance at start of year
Income capitalised in the year
Increase/(decrease) in investments
Balance at end of year|CCLA
£
121,841
-
14,616
136,457|Schroeders
£
56,812
1,337
7,202
65,351|2023
2022
Total
Total
£
£
178,653
190,710
1,337
2,395
21,818
(14,452)|
|---|---|---|---|
||||201,808
178,653|
Part of the CCLA investment is held in an Investment fund and part in a Fixed Interest fund. The Schroeders investment is part of the Staff Support Fund.
|**7 DEBTORS**
Gift Aid due
**8 UNRESTRICTED AND RESTRICTED FUNDS**
**General Fund**
**Restricted Funds**
Bursary Fund
Staff Support Fund
Roy Fellows (Gifts in memory of)
Thompson Fund
Richardson|2023
2022
£
£
1,013
-
Opening
Incoming
Outgoing
Closing
Balance
Resources
Resources
Balance
£
£
£
£
42,783
47,599
22,324
68,058|
|---|---|
||35,794
660
8,000
28,454
56,891
8,539
6,296
59,134
3,288
-
3,288
-
350
850
550
650
1,200
-
1,200
-|
||97,523
10,049
19,334
88,238|
||-
-
140,306
57,648
41,658
156,296|
## 9 **LEGACIES**
During the year the Trust received a legacy of £14,900 (2022 £2,963).
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