**REGISTERED CHARITY NUMBER: 1057862**
**Unaudited Financial Statements for the Year Ended 31 December 2021**
**for**
**Rainbow Trust Africa**
The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
**Rainbow Trust Africa**
**Contents of the Financial Statements for the Year Ended 31 December 2021**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Financial Statements**|10 to 19|
|**Detailed Statement of Financial Activities**|20 to 21|
**Rainbow Trust Africa**
**Reference and Administrative Details for the Year Ended 31 December 2021**
**TRUSTEES** R A Eagle (Chairman) D Burton T Eagle Treasurer J Watts **PRINCIPAL ADDRESS** c/o Mr Andrew Eagle Josiah Hincks Solicitors 22 De Montfort Street Leicester LE1 7GB
## **REGISTERED CHARITY NUMBER** 1057862
**INDEPENDENT EXAMINER** The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
Page 1
**Rainbow Trust Africa**
**Report of the Trustees for the Year Ended 31 December 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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) published in October 2019.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity, as stated in its declaration of trust, are:
- To promote and enhance the welfare of needy communities in Africa - The relief of persons who are in conditions of need, hardship or distress, or who are aged and sick
- The advancement of education on the basis of Christian principles
- To increase opportunities in gaining employment
- To assist with improving standards of health care
The policies adopted to further the objects of the charity are:
- Running the Rainbow Africa Centre in Livingstone, Zambia
- Running a Pre-school and Primary School at the Centre
- Providing skills training
## **Public benefit**
The trustees have had regard to the Charity Commission guidance on public benefit.
## **Volunteers**
The charity is grateful for the commitment of its volunteers who are involved in all aspects of the charity's operations.
Page 2
**Rainbow Trust Africa**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
How the charity delivers public benefit.
Developments in 2021
The world is gradually easing COVID-19 restrictions and the virus is causing less of a hindrance to progress at Rainbow Trust Africa (RTA) than in the previous two years. However, we still are faced with precautions and costs pertaining to its spread prevention.
The intended school expansion is almost complete and in 2021 we completed our first year of Grade 11 tuition. 2022 will see the start of Grade 12.
All church properties are in reasonable order and the work in the 5 villages continues and expands.
On the Muzoka site the Grannies accommodation continues to house Monica Muchinou and Inonge Mubiana who live happily in their new homes. Potentially, other units are planned.
Support for needy Grannies continued through the provision of food and house repairs and we now support 16 ladies and gentlemen plus the Old Peoples Home in Livingstone.
The project to refurbish the existing accommodation on site continues. Further phases await funding. The funding for this project has been raised by specific gifts for the purpose. Further maintenance programs for all areas are on-going.
Food provision to six villages continues with Mealie Meal being supplied. Our significant US sponsor continued to support our efforts and donated significant funds to the project. The sponsor also supports our monthly provision of food supplies to the staff and children at the school.
The Breakfast Club now supports 30 pupils who, if not for the project, would come to school hungry. This project is funded by specific donations from a church in Leicestershire.
Under the direction of Head teacher Janet Shamboko, The King's School enjoyed continuing success, and despite the continued issue of the COVID pandemic, we still enjoy a superb pass rate for the Grade 7 external examination. This was again the best result by any school in Livingstone. In addition almost all Grade 9 pupils gained secondary school places.
2021 will see the school moving to full secondary provision. We do not foresee any delay to the planned expansion, despite the pandemic. The new Science block was started and completed mid 2022.
The Sponsored Child programme has remained reasonably static since 2020, again we will look to expand this provision once we are able to run our full programme again. There are still 100 benefitting from this programme.
On site in Livingstone: It is the Trust's intention to pursue the installation of Solar products to make the property more sustainable. This is subject to quality Solar installations and funds being available.
## **Fundraising activities**
The charity relies on voluntary donations from churches and individuals for its income. The charity does not employ professional fundraising bodies.
Page 3
**Rainbow Trust Africa**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **FINANCIAL REVIEW**
## **Income generation**
In total, the charity's gross income reduced from £407,514 to £163,613. The charity's main sources of income are in the form of donations received and gift aid reclaimed together with the income generated in Zambia. In 2021, the charity also received specific, restricted gifts from a US sponsor to provide food to villages and other food related provisions.
## **Resources expended and services**
The charity's expenditure for the year was £179,237 (2020: £216,366), of which £182,768 was expended at the Livingstone Centre in Zambia (2020: £192,087). £103,195 of this was spent on salaries employing the staff who further the work of the charity in Zambia (2020: £116,492).
## **Tangible fixed assets and depreciation**
There were additions to fixed assets amounting £8,659 in the year belonging to the School Fund.
## **Investment policy and objectives**
The charity has adopted a policy of periodically investing in an interest bearing account with Indo Zambia Bank (IZB) in Zambia.
## **Reserves policy**
The trustees are responsible for setting a reserves policy taking into account the administrative overheads of the charity.
Donations made to the charity for a specific purpose have to be recorded as restricted funds because the usage is specified by the donors. All other funds may be referred to as unrestricted funds. At 31 December 2021 the level of reserves held in restricted funds amounted to £114,618.
The level of reserves held in unrestricted funds at 31 December 2021 amounted to £424,221 which is considered sufficient to ensure that future calls upon the charity can be met.
## **Restricted funds**
Restricted funds were held during the year for the following purposes:
Child Sponsorship/School Fund - set up to provide for the education, clothing and subsistence of a number of children attending the Rainbow Pre-School and King's School. 3/8ths of the non-attributable centre costs are allocated to this project.
Village Outreach - set up with the dual purpose of taking evangelism and medical care into the villages surrounding Livingstone, Zambia.
Granny Fund - set up to support grannies who are looking after children whose parents have died from Aids/HIV.
Church Development - Roof/Meeting Place - monies raised to support the re-building and repairs to the various church buildings supported.
New Guest House (Burton House) - This is a restricted fund for the purpose of building an additional accommodation building on the site in Livingstone which is for the use of the trustees who carry out work at the base. This project is now complete.
Page 4
**Rainbow Trust Africa**
**Report of the Trustees for the Year Ended 31 December 2021**
## **FUTURE PLANS**
The trustees anticipate further involvement of short term teams visiting to assist and support our work. The need for assistance includes general maintenance on the Livingstone and Muzoka sites and the growth and nurturing of village churches as well as support for the needy Grannies and medical outreach to remote villages.
New projects will include the further development of additional purpose built duplex homes for several of the Grannies on the secure Muzoka site. This initiative has been driven by the increase in unwelcome interference, theft and vandalism of a number of such homes in Livingstone.
The major single project in the next two years will be the school expansion as described above.
The project to refurbish the existing accommodation on site continues throughout the year. The funding for this project has been raised by specific gifts for the purpose. There is now in place an on-going maintenance programme for all buildings on our complexes at Livingstone and Muzoka, this will continue. Bookings for our accommodation in 2020 ceased due to COVID-19.
A significant programme for the Livingstone centre is the installation of solar power on site (see above). We envisage that this will continue in the form of further site lighting and office provision.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust dated 20 November 1995, and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
Trustees are selected by the other members of the trustee board. Trustees serve a term of four years after which they may submit themselves for re-election.
In selecting the new trustees, they seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help to raise funds on behalf of the charity. Potential trustees are invited to attend trustees' meeting as observers and are given more details of the charity's aims and activities and if all agree, they are then proposed as new trustees at a subsequent trustees' meeting. This process allows due consideration of the persons eligibility, personal competence, specialist knowledge and skills.
## **Organisational structure**
The charity trustees are responsible for the general control and management of the charity. All the trustees give their time freely and receive no remuneration or other benefit but are reimbursed for their expenses. Notwithstanding his resignation in 2020, Mr. Ewart Crowther remains active with the charity's work in Zambia and is still remunerated for this. The amounts paid in respect of ministry fees and expenses are in accordance with the trust deed.
Page 5
**Rainbow Trust Africa**
## **Report of the Trustees for the Year Ended 31 December 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governance and internal control**
The systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss. They include:
- A strategic plan and an annual budget approved by the trustees;
- Regular consideration by the trustees of financial results and variances from budget:
- Delegation of authority and segregation of duties;
- Identification and management of risk.
The trustees have reviewed the adequacy of the charity's internal controls and are pleased to report that the charity's financial controls, in particular, conform with guidelines issued by the Charity Commission.
## **Induction and training of new trustees**
The new trustees are introduced to their new roles and given copies of the trust deed and guide to the policies and procedures adopted by the charity. Publications from the Charity Commission are also provided including the guidance on charities and public benefit, thus ensuring that the new trustees are aware of the scope of their responsibilities under the Charities Act. The process adopted by the charity is that the new trustees work with the existing trustees assisting on particular activities and projects run by the charity. Once the new trustees has gained enough experience then they are given task of leading particular activity and project and accordingly reporting progress at the trustees' meeting.
## **Risk management**
The trustees have assessed the risks the charity faces and have drawn up a risk plan which identifies the major risks by area of activity, the nature of those risks, the likelihood of those risks happening and the measures taken to manage them. The trustees review the risk plan regularly at their meetings. The trustees are satisfied that systems are in place or arrangements are in hand to manage the risks that have been identified. Systems are also in place to review the charity's finances and these are supported by the review of the charity's policies on a regular basis.
Approved by order of the board of trustees on 26 October 2022 and signed on its behalf by:
## _Andrew Ea le g_
.............................................signed on 26/10/2022, 20:15:04 BST ..... R A Eagle (Chairman) - Trustee
Page 6
**Independent Examiner's Report to the Trustees of Rainbow Trust Africa**
## **Independent examiner's report to the trustees of Rainbow Trust Africa**
I report to the charity trustees on my examination of the accounts of Rainbow Trust Africa (the Trust) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all 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 in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do 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.
## _Paula Swann-Jones_
signed on 27/10/2022, 08:49:41 BST
Mrs P Swann-Jones FCA ICAEW The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
Date: 26 October 2022
Page 7
**Rainbow Trust Africa**
## **Statement of Financial Activities for the Year Ended 31 December 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
55,355
Other trading activities
3
-
**Total**
55,355
**EXPENDITURE ON**
**Charitable activities**
4
Livingstone Centre
3,826
Other Charitable Expenditure
7,332
Other
6
(13,405)
**Total**
(2,247)
**NET INCOME/(EXPENDITURE)**
57,602
**Transfers between funds**
15
(22,164)
**Net movement in funds**
35,438
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
388,783
**TOTAL FUNDS CARRIED FORWARD**
424,221|Restricted
funds
£
27,664
80,594
108,258
178,942
2,542
-
181,484
(73,226)
22,164
(51,062)
165,680
114,618|31.12.21
31.12.20
Total
Total
funds
funds
£
£
83,019
340,717
80,594
66,797
163,613
407,514
182,768
192,087
9,874
10,698
(13,405)
13,581
179,237
216,366
(15,624)
191,148
-
-
(15,624)
191,148
554,463
363,315
538,839
554,463|
|---|---|---|
The notes form part of these financial statements
Page 8
**Rainbow Trust Africa**
## **Balance Sheet 31 December 2021**
|Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Stocks
11
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.21
£
351,114
-
41,492
172,114
213,606
(25,881)
187,725
538,839
538,839
424,221
114,618
538,839|31.12.20
£
352,663
24
24,645
203,038
227,707
(25,907)
201,800
554,463
554,463
388,783
165,680
554,463|
|---|---|---|
26 October 2022 and were signed on its behalf by:
## _Andrew Ea le g_
............................................. signed on 26/10/2022, 20:15:04 BST R A Eagle (Chairman) - Trustee
The notes form part of these financial statements
Page 9
**Rainbow Trust Africa Notes to the Financial Statements for the Year Ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Rainbow Trust Africa is an unincorporated charity registered in England and Wales. The address of the charity is given in the charity information on page 1 of these financial statements.
The accounts have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
No amounts are included in the financial statements for services donated by volunteers.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from school and accommodation fees and is recognised when it has been received.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
continued...
Page 10
**Rainbow Trust Africa**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
|Freehold property|- 2% on cost|
|---|---|
|Fixtures and fittings|- 25% on cost|
|Motor vehicles|- 25% on cost|
Tangible fixed assets are stated at cost less depreciation. Assets are capitalised where they can be used for more than one year and cost over £250.
## **Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
## **Taxation**
The charity is exempt from tax on its charitable activities. Expenses are inclusive of VAT where applicable.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash in hand and cash on deposit.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Debtors and creditors receivable/payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
continued...
Page 11
**Rainbow Trust Africa**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **2. DONATIONS AND LEGACIES**
|Unrestricted
funds
£
Donations
40,355
Gift aid
15,000
Legacies
-
55,355
**OTHER TRADING ACTIVITIES**
School fees
Accommodation fees|31.12.21
Restricted
Total
funds
funds
£
£
27,664
68,019
-
15,000
-
-
27,664
83,019
Restricted
funds
£
80,343
251
80,594|31.12.21
Restricted
Total
funds
funds
£
£
27,664
68,019
-
15,000
-
-
27,664
83,019
Restricted
funds
£
80,343
251
80,594|Unrestricted
Restricted
funds
funds
£
£
68,921
29,796
15,000
-
227,000
-
310,921
29,796
31.12.21
Total
Restricted
funds
funds
£
£
80,343
66,675
251
122
80,594
66,797|Unrestricted
Restricted
funds
funds
£
£
68,921
29,796
15,000
-
227,000
-
310,921
29,796
31.12.21
Total
Restricted
funds
funds
£
£
80,343
66,675
251
122
80,594
66,797|31.12.20
Total
funds
£
98,717
15,000
227,000
340,717
31.12.20
Total
funds
£
66,675
122
66,797|
|---|---|---|---|---|---|
||||31.12.21
Total
funds
£
80,343
251
80,594|||
|||||||
## **3. OTHER TRADING ACTIVITIES**
## **4. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||
|---|---|
||Direct|
||Costs (see|
||note 5)|
||£|
|Livingstone Centre|182,768|
|Other Charitable Expenditure|9,874|
||192,642|
continued...
Page 12
**Rainbow Trust Africa**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **5. DIRECT COSTS OF CHARITABLE ACTIVITIES**
||||31.12.21|31.12.21|31.12.21|||||31.12.20|
|---|---|---|---|---|---|---|---|---|---|---|
||Unrestricted||Restricted||Total|
Unrestricted|||Restricted|
Total|
|||funds|
funds||funds|||funds|funds|funds|
||£||£||£|£|||£|£|
|Staff costs||-|103,195|103,195||||-|116,492|116,492|
|Repairs||-|13,371||13,371|||-|1,619|1,619|
|Insurance|2,945||-||2,945|
1,503|||-|1,503|
|Heat, light and rates||-|8,842||8,842|||-|6,583|6,583|
|Telephone||-|659||659|||-|714|714|
|Postage and stationery||-|5,868||5,868|||-|635|635|
|Vehicle costs||-|8,786||8,786||690||9,805|10,495|
|Sundries||-|7,044||7,044|||-|5,640|5,640|
|School expenses||-|2,339||2,339|||-|1,196|1,196|
|Subsistence||-|22,456||22,456|||-|38,596|38,596|
|Travel costs|4,387||-||4,387|
6,191|||-|6,191|
|Child sponsorship|||||||||||
|expenses||-|2,542||2,542|||-|3,004|3,004|
|Depreciation|3,826||6,382||10,208|
3,908|||6,209|10,117|
||11,158||181,484|192,642||
12,292|||190,493|202,785|
|**OTHER**|||||||||||
||||||31.12.21|||||31.12.20|
||||Unrestricted|||Total||Unrestricted||Total|
||||funds|||funds|||funds|funds|
||||£||£|||£||£|
|Bank charges|||548|||548|||462|462|
|Ministry fees|||19,956|||19,956||19,956||19,956|
|Marketing|||216|||216|||216|216|
|Foreign exchange (gain)/loss|||(39,721)||
(39,721)|||(12,857)||(12,857)|
|Independent examiner's fees|||4,080|||4,080|||3,954|3,954|
|Accountancy fees (Zambia)|||1,516|||1,516|||1,850|1,850|
||||(13,405)||(13,405)|||13,581||13,581|
## **6. OTHER**
continued...
Page 13
**Rainbow Trust Africa**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
During the year, no trustee (2020: one) was engaged in remunerated ministry. The trustee who had resigned in 2020, has still continued to do ministry work in Zambia.
The amount paid in respect of ministry fees and expenses, in accordance with the trust deed, was £19,956 (2020: £19,956). No amount was paid to any trustee for the services of being a trustee.
## **Trustees' expenses**
One trustee (2020: one) was reimbursed for flights and travel expenses totalling £4,387 (2020: £6,191).
## **8. STAFF COSTS**
The total remuneration paid to the staff employed at the Livingstone Centre amounted to £103,195 (2020: £116,492).
The average monthly number of employees during the year was as follows:
||31.12.21|31.12.20|
|---|---|---|
|Livingstone Centre staff|75|76|
No employees received emoluments in excess of £60,000.
## **9. AMOUNTS PAYABLE TO INDEPENDENT EXAMINER**
The amount paid to the independent examiner for the independent examination was £1,632 (2020: £1,545) and £2,448 (2020: £2,409) for other accountancy services.
continued...
Page 14
**Rainbow Trust Africa**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **10. TANGIBLE FIXED ASSETS**
|Freehold
property
£
**COST**
At 1 January 2021
491,307
Additions
8,659
At 31 December 2021
499,966
**DEPRECIATION**
At 1 January 2021
139,064
Charge for year
9,999
At 31 December 2021
149,063
**NET BOOK VALUE**
At 31 December 2021
350,903
At 31 December 2020
352,243
**11.**
**STOCKS**
Stocks
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Tax|Fixtures
and
fittings
£
35,850
-
35,850
35,430
209
35,639
211
420|Motor
vehicles
£
33,296
-
33,296
33,296
-
33,296
-
-
31.12.21
£
-
31.12.21
£
11,492
30,000
41,492|Totals
£
560,453
8,659
569,112
207,790
10,208
217,998
351,114
352,663
31.12.20
£
24
31.12.20
£
9,645
15,000
24,645|
|---|---|---|---|
continued...
Page 15
**Rainbow Trust Africa**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**14.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
fund
£
Fixed assets
118,256
Current assets
313,999
Current liabilities
(8,034)
424,221|Restricted
funds
£
232,858
(100,393)
(17,847)
114,618|31.12.21
£
25,881
25,881
31.12.21
Total
funds
£
351,114
213,606
(25,881)
538,839|31.12.20
£
25,907
25,907
31.12.20
Total
funds
£
352,663
227,707
(25,907)
554,463|
|---|---|---|---|
continued...
Page 16
**Rainbow Trust Africa**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **15. MOVEMENT IN FUNDS**
|Net
movement
At 1.1.21
in funds
£
£
**Unrestricted funds**
General fund
388,783
57,602
**Restricted funds**
Child Sponsorship/Library
91,653
(48,142)
Health Centre Fund
-
(7,260)
Grannies Fund
26,466
(2,145)
Accommodation Fund
-
(14,904)
New Guest House (Burton House)
44,224
(482)
Accommodation Upgrades
2,366
-
Church Roof/Meeting Place
971
(293)
165,680
(73,226)
**TOTAL FUNDS**
554,463
(15,624)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
55,355
**Restricted funds**
Child Sponsorship/Library
102,943
Health Centre Fund
5,064
Grannies Fund
-
Accommodation Fund
251
New Guest House (Burton House)
-
Church Roof/Meeting Place
-
108,258
**TOTAL FUNDS**
163,613|Transfers
between
At
funds
31.12.21
£
£
(22,164)
424,221
-
43,511
7,260
-
-
24,321
14,904
-
-
43,742
-
2,366
-
678
22,164
114,618
-
538,839
Resources
Movement
expended
in funds
£
£
2,247
57,602
(151,085)
(48,142)
(12,324)
(7,260)
(2,145)
(2,145)
(15,155)
(14,904)
(482)
(482)
(293)
(293)
(181,484)
(73,226)
(179,237)
(15,624)|
|---|---|
continued...
Page 17
**Rainbow Trust Africa**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **15. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Child Sponsorship/Library
Health Centre Fund
Grannies Fund
Accommodation Fund
New Guest House (Burton House)
Accommodation Upgrades
Church Roof/Meeting Place
**TOTAL FUNDS**|At 1.1.20
£
142,601
142,801
1,280
28,297
-
44,706
2,366
1,264
220,714
363,315|Net
movement
in funds
£
285,048
(51,148)
(24,519)
(1,831)
(15,627)
(482)
-
(293)
(93,900)
191,148|Transfers
between
funds
£
(38,866)
-
23,239
-
15,627
-
-
-
38,866
-|At
31.12.20
£
388,783
91,653
-
26,466
-
44,224
2,366
971
165,680
554,463|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Child Sponsorship/Library
Health Centre Fund
Grannies Fund
Accommodation Fund
New Guest House (Burton House)
Church Roof/Meeting Place
**TOTAL FUNDS**|Incoming
resources
£
310,921
91,001
5,470
-
122
-
-
96,593
407,514|Resources
Movement
expended
in funds
£
£
(25,873)
285,048
(142,149)
(51,148)
(29,989)
(24,519)
(1,831)
(1,831)
(15,749)
(15,627)
(482)
(482)
(293)
(293)
(190,493)
(93,900)
(216,366)
191,148|
|---|---|---|
Transfers amounting to £22,164 were made from unrestricted funds to restricted funds to cover the overspend in these funds.
Details of the restricted funds are included in the Trustees Report.
continued...
Page 18
**Rainbow Trust Africa**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2021**
## **16. EMPLOYEE BENEFIT OBLIGATIONS**
The charity makes contributions to a defined contribution pension scheme for the benefit of its employees. A provision of £16,000 for pension contributions is included in accruals (2020: £16,000).
The original contracts of employment were replaced with short term contracts with specific pension terms. The cost of the contributions are written off against profits in the year they are payable.
## **17. RELATED PARTY DISCLOSURES**
During the year £6,258 (2020: £11,710) of donations were received without conditions from trustees.
Page 19