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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1057862

Unaudited Financial Statements for the Year Ended 31 December 2022

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 2022

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 2022

TRUSTEES

A Eagle (Chairman) D Burton T Eagle (Treasurer) J Watts

PRINCIPAL ADDRESS

De Montfort Business Services The Manse 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 2022

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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:

The policies adopted to further the objects of the charity are:

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 2022

ACHIEVEMENT AND PERFORMANCE Charitable activities

How the charity delivers public benefit.

Developments in 2022

The intended school expansion is now complete with our first grade 12 graduation taking place in December. A female student who has been on our sponsored child programme was the highest achieving student in the Southern Province of Zambia.

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. The land is now used for agricultural purposes for local communities.

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 we still enjoy a superb pass rate for all external examinations. This year we were again among the best results by any school in Livingstone. In addition, almost all Grade 9 pupils gained secondary school places.

At The Kings School the new Science block was completed and is now being used by senior school students.

The Sponsored Child programme has again started to increase, we will look to expand this provision further in 2023 and onwards. There are still around 100 children 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 2022

FINANCIAL REVIEW

Income generation

In total, the charity's gross income increased from £163,613 to £191,298. 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 2022, the Trust continued to receive 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 £289,344 (2021: £179,237), of which £272,515 was expended at the Livingstone Centre in Zambia (2021: £182,768). £156,890 of this was spent on salaries employing the staff who further the work of the charity in Zambia (2021: £103,195).

Tangible fixed assets and depreciation

There were additions to fixed assets amounting £30,019 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 2022 the level of reserves held in restricted funds amounted to £70,226.

The level of reserves held in unrestricted funds at 31 December 2022 amounted to £370,567 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, The King's School and Muzoka pre-school and basic 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 are vulnerable.

Church Development - Finance is 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 was completed last year.

Page 4

Rainbow Trust Africa

Report of the Trustees for the Year Ended 31 December 2022

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.

A major single project in the coming years will be the expansion of school property, as funds allow.

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 2022 grew again, post Covid.

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 of the Trustees give their time freely and receive no remuneration or other benefits 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 until September 2023. 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 2022

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:

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. 

31/10/2023

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Timothy John Eagle

signed on 31/10/2023, 16:42:28 GMT

.................................................. T Eagle (Treasurer) - 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 2022.

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

  2. 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 31/10/2023, 16:43:23 GMT

Mrs P Swann-Jones FCA

The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP 31/10/2023

Date: .............................................

Page 7

Rainbow Trust Africa

Statement of Financial Activities for the Year Ended 31 December 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
50,001
Other trading activities
3
-
Total
50,001
EXPENDITURE ON
Charitable activities
4
Livingstone Centre
4,360
Other Charitable Expenditure
2,732
Other
6
5,530
Total
12,622
NET INCOME/(EXPENDITURE)
37,379
Transfers between funds
14
(91,033)
Net movement in funds
(53,654)
RECONCILIATION OF FUNDS
Total funds brought forward
424,221
TOTAL FUNDS CARRIED FORWARD
370,567		 Restricted
funds
£
26,829
114,468
141,297
268,155
8,567
-
276,722
(135,425)
91,033
(44,392)
114,618
70,226		 2022
Total
funds
£
76,830
114,468
191,298
272,515
11,299
5,530
289,344
(98,046)
-
(98,046)
538,839
440,793		 2021
Total
funds
£
83,019
80,594
163,613
182,768
9,874
(13,405)
179,237
(15,624)
-
(15,624)
554,463
538,839

The notes form part of these financial statements

Page 8

Rainbow Trust Africa

Balance Sheet 31 December 2022

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2022
£
369,831
52,342
46,654
98,996
(28,034)
70,962
440,793
440,793
370,567
70,226
440,793		 2021
£
351,114
41,492
172,114
213,606
(25,881)
187,725
538,839
538,839
424,221
114,618
538,839

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 31/10/2023

Timothy John Eagle

............................................. signed on 31/10/2023, 16:42:28 GMT T Eagle (Treasurer) - 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 2022

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 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.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost

continued...

Page 10

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

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.

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 2022

2. DONATIONS AND LEGACIES

Donations
Gift aid		 Unrestricted
funds
£
39,670
10,331
50,001		 Restricted
funds
£
26,829
-
26,829		 2022
Total
funds
£
66,499
10,331
76,830		 Unrestricted
funds
£
40,355
15,000
55,355		 Restricted
funds
£
27,664
-
27,664		 2021
Total
funds
£
68,019
15,000
83,019

3. OTHER TRADING ACTIVITIES

School fees
Accommodation fees		 Restricted
funds
£
112,313
2,155
114,468		 2022
Total
funds
£
112,313
2,155
114,468
Restricted
funds
£
80,343
251
80,594		 2021
Total
funds
£
80,343
251
80,594

4. CHARITABLE ACTIVITIES COSTS

Livingstone Centre
Other Charitable Expenditure		 Direct
Costs (see
note 5)
£
270,101
11,299
281,400		 Grant
funding of
activities
£
2,414
-
2,414		 Totals
£
272,515
11,299
283,814

continued...

Page 12

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Repairs
Insurance
Heat, light and rates
Telephone
Postage and stationery
Vehicle costs
Sundries
School expenses
Subsistence
Travel costs
Child sponsorship
expenses
Depreciation
Grants to individuals		 Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
2,732
-
4,360
-
7,092		 Restricted
funds
£
156,890
17,116
5,370
18,103
1,088
5,146
12,076
12,422
3,771
32,187
-
3,197
6,942
2,414
276,722		 2022

Total
funds
£
156,890
17,116
5,370
18,103
1,088
5,146
12,076
12,422
3,771
32,187
2,732
3,197
11,302
2,414
283,814		 Unrestricted
funds
£
-
-
2,945
-
-
-
-
-
-
-
4,387
-
3,826
11,158		 2021
Restricted
Total
funds
funds
£
£
103,195
103,195
13,371
13,371
-
2,945
8,842
8,842
659
659
5,868
5,868
8,786
8,786
7,044
7,044
2,339
2,339
22,456
22,456
-
4,387
2,542
2,542
6,382
10,208
181,484
192,462

6. OTHER

Bank charges
Ministry fees
Marketing
Foreign exchange (gain)/loss
Independent examiner's fees
Accountancy fees (Zambia)		 Unrestricted
funds
£
834
19,956
475
(22,218)
4,284
2,199
5,530		 2022
Total
funds
£
834
19,956
475

(22,218)
4,284
2,199
5,530
Unrestricted
funds
£
548
19,956
216

(39,721)
4,080
1,516
(13,405)		 2021
Total
funds
£
548
19,956
216

(39,721)
4,080
1,516
(13,405)

continued...

Page 13

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

7. TRUSTEES' REMUNERATION AND BENEFITS

During the year, no trustee (2021: None) 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 (2021: £19,956). No amount was paid to any trustee for the services of being a trustee.

Trustees' expenses

One trustee (2021: one) was reimbursed for flights and travel expenses totalling £2,732 (2021: £4,387).

8. STAFF COSTS

The total remuneration paid to the staff employed at the Livingstone Centre amounted to £156,890 (2021: £103,195).

The average monthly number of employees during the year was as follows:

Livingstone Centre staff 2022
74		 2021
75

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 £1,714 (2021: £1,632) and £2,570 (2021: £2,448) for other accountancy services.

continued...

Page 14

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

10. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1 January 2022
499,966
Additions
27,878
At 31 December 2022
527,844
DEPRECIATION
At 1 January 2022
149,063
Charge for year
10,557
At 31 December 2022
159,620
NET BOOK VALUE
At 31 December 2022
368,224
At 31 December 2021
350,903
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Tax		 Fixtures
and
fittings
£
35,850
2,141
37,991
35,639
745
36,384
1,607
211		 Motor
vehicles
£
33,296
-
33,296
33,296
-
33,296
-
-
2022
£
12,011
40,331
52,342		 Totals
£
569,112
30,019
599,131
217,998
11,302
229,300
369,831
351,114
2021
£
11,492
30,000
41,492

continued...

Page 15

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors 2022
£
28,034
252,306		 2021
£
25,881
186,985

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
fund
£
Fixed assets
116,041
Current assets
262,890
Current liabilities
(8,364)
370,567		 Restricted
funds
£
253,790
(163,894)
(19,670)
70,226		 2022
Total
funds
£
369,831
98,996
(28,034)
440,793		 2021
Total
funds
£
351,114
213,606
(25,881)
538,839

continued...

Page 16

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

14. MOVEMENT IN FUNDS

Net
movement
2021
in funds
£
£
Unrestricted funds
General fund
424,221
37,379
Restricted funds
Child Sponsorship/Library
43,511
(94,888)
Health Centre Fund
-
(13,882)
Grannies Fund
24,321
(2,771)
Accommodation Fund
-
(23,109)
New Guest House (Burton House)
43,742
(482)
Accommodation Upgrades
2,366
-
Church Roof/Meeting Place
678
(293)
114,618
(135,425)
TOTAL FUNDS
538,839
(98,046)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
50,001
Restricted funds
Child Sponsorship/Library
134,726
Health Centre Fund
4,416
Grannies Fund
-
Accommodation Fund
2,155
New Guest House (Burton House)
-
Church Roof/Meeting Place
-
141,297
TOTAL FUNDS
191,298		 Transfers
between
funds
2022
£
£
(91,033)
370,567
53,954
2,577
13,882
-
-
21,550
23,197
88
-
43,260
-
2,366
-
385
91,033
70,226
-
440,793
Resources
Movement
expended
in funds
£
£
(12,622)
37,379
(229,614)
(94,888)
(18,298)
(13,882)
(2,771)
(2,771)
(25,264)
(23,109)
(482)
(482)
(293)
(293)
(276,722)
(135,425)
(289,344)
(98,046)

continued...

Page 17

Rainbow Trust Africa

Notes to the Financial Statements - continued for the Year Ended 31 December 2022

14. 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		 2021
£
388,783
91,653
-
26,466
-
44,224
2,366
971
165,680
554,463		 Net
movement
in funds
£
57,602
(48,142)
(7,260)
(2,145)
(14,904)
(482)
-
(293)
(73,226)
(15,624)		 Transfers
between
funds
£
(22,164)
-
7,260
-
14,904
-
-
-
22,164
-		 2022
£
424,221
43,511
-
24,321
-
43,742
2,366
678
114,618
538,839

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
£
55,355
102,943
5,064
-
251
-
-
108,258
163,613		 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)

Transfers amounting to £91,033 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 2022

15. 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 (2021: £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.

16. RELATED PARTY DISCLOSURES

During the year £6,283 (2021: £6,258) of donations were received without conditions from trustees.

Page 19

Rainbow Trust Africa

Detailed Statement of Financial Activities for the Year Ended 31 December 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
School fees
Accommodation income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Repairs
Insurance
Heat, light and rates
Telephone
Postage and stationery
Vehicle costs
Sundries
School expenses
Subsistence
Travel costs
Child sponsorship expenses
Depreciation
Grants to individuals
Support costs
Finance
Bank charges
Other
Ministry fees
Carried forward		 2022
£
66,499
10,331
76,830
112,313
2,155
114,468
191,298
156,890
17,116
5,370
18,103
1,088
5,146
12,076
12,422
3,771
32,187
2,732
3,197
11,302
2,414
283,814
834
19,956
19,956		 2021
£
68,019
15,000
83,019
80,343
251
80,594
163,613
103,195
13,370
2,945
8,451
659
5,868
8,785
7,436
2,339
22,457
4,387
2,542
10,208
-
192,642
548
19,956
19,956

This page does not form part of the statutory financial statements

Page 20

Rainbow Trust Africa

Detailed Statement of Financial Activities for the Year Ended 31 December 2022

Other
Brought forward
Marketing
Foreign exchange (gain)/loss
Governance costs
Independent examiner's fees
Accountancy fees (Zambia)
Total resources expended
Net expenditure		 2022
£
19,956
475
(22,218)
(1,787)
4,284
2,199
6,483
289,344
(98,046)		 2021
£
19,956
216
(39,721)
(19,549)
4,080
1,516
5,596
179,237
(15,624)

This page does not form part of the statutory financial statements

Page 21