Wynaud Trust Wynaud Trust Annual report and financial statements Year ended 5 April 2021 Registered charity no 1062728 on AndyNasb Accounting& ConsultanLy
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Contents
Contents
| Legal & administrative information | 2 |
|---|---|
| Trustees’ annual report | 3 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
Registered charity no 1062728
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Legal & administrative information
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Legal & administrative information
| Charity name | Wynaud Trust | |
|---|---|---|
| Charity registration no. | 1062728 | |
| Registered office | Lanthorn Cottage | |
| Horton | ||
| Buckinghamshire | ||
| LU7 0QR | ||
| Trustees | Mr Stefan Abramian | Chair |
| Mrs Katherine Beaumont | (appointed 1 March 2020) | |
| Mrs Alison Brown | ||
| Mr Nigel Brown | ||
| Miss Joscelyn Fitzpatrick | ||
| Mrs Rachel Swaffield | ||
| Independent examiner | Andy Nash Accounting & Consultancy Ltd | |
| Units 24 & 25 | ||
| Goodsheds Container Village | ||
| Hood Road | ||
| Barry | ||
| CF62 5QU | ||
| Principal bankers | Barclays Bank PLC | |
| 1 Churchill Place | ||
| London | ||
| E14 5HP |
Registered charity no 1062728
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Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Trustees’ annual report
Trustees’ annual report
The Board of Trustees submit their annual report and the financial statements of The Wynaud Trust for the year ended 5 April 2021. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charities Act 2011, as well as the requirements of the Charity's governing document and the provisions of 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) second edition (effective 1 January 2019)’, and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and activities
Objects
Wynaud Trust is a Christian organisation, whose mission is to demonstrate the love of God to the people of Zambia, through working with local churches and other Christian organisations to support community development and address poverty and related issues.
of children finishing school and delays in new children being identified.
The programme started in Mumbeji at the start of 2020 and continued into this financial year. Due to 102 children in the Kanaji Chilanda Secondary School in Mumbeji were supported. The partnership developed with the Headteacher has worked well, with excellent exchange of information and proactive monitoring.
During 2020, 11 students were supported in higher or further education mainly in education and nursing courses. 4 students graduated from this cohort. In early 2021, 3 new students were admitted to the scholarship programme to study nursing and medicine.
Additional support was offered to previous students in seeking employment in relation to teacher registration, travel and subsistence for the first 3 months of their teaching appointment, whilst on probation and not receiving pay.
The trust continues to provide assistance to the local clinics in the Kabulamema and Mumbeji. The support offered by the Trust encourages women to attend for all their ante-natal and post-natal checks to ensure that their well being is monitored.
Activities
The main areas of work are as follows:
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The development and support of education, including school support, further and higher education;
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To support the development of employment initiatives and income generation projects;
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To support the development of agricultural initiatives;
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To provide support for vulnerable persons in the community; and,
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To support the development of leadership.
Throughout the process of determining these activities, the Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.
Achievements and performance
2020-21 was the tenth full year of the school fee programme in Kabulamema, providing support for children, mainly orphans living in the community, to continue their education. At the start of the financial year 42 children were being supported, reducing to 25 in January 2021. This was due to issues with the management of the scheme in Kabulamema, a number
In February 2020 Trustees visited both clinics, supported by two Doctors from the UK. In discussion with the Director of Health for the District and the staff at the clinics it was agreed to assist in providing resources and developing training for medical staff and the community to improve health outcomes. During this financial year, assistance has been given to equip a new maternity unit in Mumbeji and a mothers’ shelter with beds and mattresses. In addition, assistance was given to buy much needed medical equipment for the clinic. Further support is planned. Due to Covid restrictions, the planned training for staff and communities has not yet taken place.
The Mumbeji Play Centre Project, which started in September 2018, is now well established. This is a preschool facility, providing educational play activities for 3 and 4-year-old children. The two employed teachers are providing good quality early years education through play. The provision of a borehole for the Centre has now been completed, and providing a significant benefit to both the community and the play centre.
The Honey Business has not been active during this year for a number of reasons. No funds have been received for the consignment that arrived in the UK in February 2020 due to issues with the quality and a drop in demand due to Covid. The Trustees are considering alternative ways to support beekeepers and reducing the liability to the Trust.
Registered charity no 1062728
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Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Trustees’ annual report
Plans for the future
with the Charity Commission in England and Wales, registration number 1062728.
The Trust wishes to continue with existing activity subject to financial resources being available.
Trustees intend to visit Zambia again at the earliest opportunity, but due to Covid 19 and travel restrictions it has not been possible to visit during this financial year.
Acknowledgements
The Trustees gratefully acknowledge the generous support of a number of organisations and individuals. All donations assist in supporting our aims.
Financial review
During the current financial year the Charity achieved a surplus of £10,801 (2020: surplus of £11,051), increasing total reserves at year end to £41,005 (2020: £30,204).
Unrestricted reserves at year end were £35,812 (2020: £25,592).
Reserves policy and going concern
The Trustees are currently developing a formal reserves policy based on future cash flows and current commitments. As of 5 April 2021, the Charity had sufficient commitments from donors to meet current commitments on the education project.
Risks
As a Charity we are reliant on income from a range of sources, none of which is guaranteed on a long-term basis. As a result, the Trust seeks to use income for short term support and pump priming of initiatives and projects that, if successful, will become selfsustaining. In addition, administrative costs are kept to a minimum.
There is also significant risk attached the progamme investment in the Kasamba Honey Company, as the ongoing COVID-19 pandemic has accentuated concerns over the likelihood of full recovery of the amount invested in the business. This is currently being reviewed by the trustees and long term options are being explored as noted in the achievements and performance section above.
Structure, governance and management
Governing document
The Trustees administer the Charity under the terms of its governing document, a Deed of Trust. It is registered
Recruitment and appointment of Trustees
New Trustees are appointed by the existing Trustees based on the skills and knowledge required by the organisation at that point in time.
All new Trustees are inducted by the current board and provided with copies of the constitution and the latest annual report and accounts for their information, as well as to help them form an understanding of the work of the Charity.
All Trustees give their time voluntary and received no remuneration or other benefits.
Organisational structure
The Trustees are responsible for the overall financial control, direction, and work of the Charity. They meet approximately nine times a year. Day-to-day responsibilities are delegated to the partners and friends in Zambia who carry out the individual projects and activities, within a framework of approved policies.
Statement of Board of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.
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Trustees’ annual report
Annual report and financial statements Year ended 5 April 2021
Wynaud Trust
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Charity and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website.
Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that the content of the annual review in pages 3-5 of this document as well as the legal and administrative details on page 2, meet the requirements of the Trustees’ Annual Report under charity law.
They also confirm that 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 FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
This report was approved and authorised for issue by the Board of Trustees on 2 February 2022 and signed on its behalf by:
Stefan Abramian
Chair
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Independent examiner’s report
The Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Independent examiner’s report to the board of trustees of Wynaud Trust
I report to the Trustees on my examination of the accounts of Wynaud Trust (charity number 1062728) for the year ended 5 April 2021 set out on pages 7 to 15.
Respective responsibilities of trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and,
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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 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.
Andrew Philip Nash ACA
Member of the Institute of Chartered Accountants in England and Wales – 2461833
Dated: 3 February 2022
Andy Nash Accounting & Consultancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
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Statement of financial activities
The Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Statement of financial activities
For the year ended 5 April 2021
----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Year ended Year ended Year ended Year ended
5 Apr 2021 5 Apr 2021 5 Apr 2021 5 Apr 2020
Notes £ £ £ £
Income from:
Donations and legacies 2 26,286 15,693 41,979 37,637
Investments - - - 500
Total income 26,286 15,693 41,979 38,137
Expenditure on:
Charitable activities 3 3,103 28,075 31,178 27,086
Total expenditure 3,103 28,075 31,178 27,086
Net income/(expenditure) 23,183 (12,382) 10,801 11,051
Transfers between funds 6 (12,963) 12,963 - -
Net movement in funds 10,220 581 10,801 11,051
Reconciliation of funds
Total funds brought forward 6 & 7 25,592 4,612 30,204 19,153
Total funds carried forward 6 & 7 35,812 5,193 41,005 30,204
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The notes on pages 9 to 15 form part of the financial statements.
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Balance sheet
Annual report and financial statements Year ended 5 April 2021
The Wynaud Trust
Balance sheet
As at 5 April 2021
| Notes Current assets Short term investments 4 Debtors - gift aid due Cash at bank and in hand Total current assets Creditors- amounts falling due within one year 5 Net current assets/(liabilities) Net assets/(liabilities) Funds of the charity: Restricted funds 6 & 7 Unrestricted funds General funds 6 & 7 Total funds of the charity |
£ 81,470 1,448 4,447 87,365 (46,360) 35,812 |
Total Funds 5 Apr 2021 £ £ 81,470 1,448 1,616 84,534 (54,330) 41,005 41,005 5,193 25,592 35,812 41,005 |
Total Funds 5 Apr 2020 £ 30,204 30,204 4,612 25,592 30,204 |
|---|---|---|---|
The notes on pages 9 to 15 form part of the financial statements.
These financial statements were approved and authorised for issue by the Board of Trustees on 2 February 2022 and signed on their behalf by:
Stefan Abramian
Chair
Registered charity no 1062728
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Notes to the Financial Statements
1. Accounting policies
Basis of preparation of the financial statements
The financial statements have been prepared in accordance with ‘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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The effect of any event relating to the period ended 5 April 2021, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 5 April 2021 and the results for the year ended on that date.
The functional currency of the Charity is sterling.
The amounts in the financial statements are rounded to the nearest pound.
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
Going concern
The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments.
As noted within the risks section of the trustees report and note 4 of the accounts there are concerns as to the ability of the charity to recover the amount recognised within programme-related investments, however due to the ongoing COVID-19 pandemic there have been difficulties in assessing any impairment. Should the asset be impaired significantly there may be inadequate assets within the business to cover the loans from supporters. Conversations have been had with those supporters who have confirmed that they are willing to potentially convert the loans to donations. These conversations are ongoing but the Trustees are confident that there is no risk of a loan being recalled at short notice and therefore there are no significant concerns over the charities ability to continue to operate over the next twelve months.
The trustees are currently working to develop a longer term solution to these challenges, including formalising the conversion of more loans to donations, as well as reviewing how the amount invested in KHC may be recovered.
Legal status
Wynaud Trust is a charitable trust registered in England and Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the Trustees of the Charity hold no liability. The registered address is Lanthorn Cottage, Horton, Buckinghamshire, LU7 0QR.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 6 of the financial statements.
Income
Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.
Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.
Expenditure and irrecoverable VAT
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated directly to charitable activities as any fundraising costs are immaterial. A breakdown of expenses by type is outlined in note 3 of the financial statements.
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised. There are currently no assets held by the Charity.
Financial instruments
Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.
Programme-related investments
The Charity has made a programme related investment in the Kasamba Honey Company Limited in Zambia which is repayable on demand. As a result, it has been recognised at cost and is not amortised using the effective interest rate but is assessed for impairment on an annual basis. Interest charged is recognised as investment income when falling due.
Cash at bank and in hand
Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.
Debtors and prepayments
Critical estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The treatment of tangible fixed assets, for example, is sensitive to changes in useful economic lives and residual values of assets. These estimates and assumptions are reassessed annually.
In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and accruals
Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.
2. Income from donations and legacies
| Donations Loans converted to donations |
Unrestricted Funds Year ended 5 Apr 2021 £ 21,286 5,000 26,286 |
Restricted Funds Year ended 5 Apr 2021 £ 15,693 - 15,693 |
Total Funds Year ended 5 Apr 2021 £ 36,979 5,000 41,979 |
|---|---|---|---|
| Donations Contributions towards visit costs |
Unrestricted Funds Year ended 5 Apr 2020 £ 18,094 - 18,094 |
Restricted Funds Year ended 5 Apr 2020 £ 11,144 8,399 19,543 |
Total Funds Year ended 5 Apr 2020 £ 29,238 8,399 37,637 |
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
3. Expenditure on charitable activities
| 3. Expenditure on charitable activities | |||
|---|---|---|---|
| Education programme Mumbeji project Other project costs Finance and administration costs |
Unrestricted Funds Year ended 5 Apr 2021 £ - - 472 2,631 3,103 |
Restricted Funds Year ended 5 Apr 2021 £ 17,201 10,874 - - 28,075 |
Total Funds Year ended 5 Apr 2021 £ 17,201 10,874 472 2,631 31,178 |
| Education programme Visits Mumbeji project Other project costs Finance and administration costs |
Unrestricted Funds Year ended 5 Apr 2020 £ - - - 143 2,142 2,285 |
Restricted Funds Year ended 5 Apr 2020 £ 13,761 8,196 2,444 400 - 24,801 |
Total Funds Year ended 5 Apr 2020 £ 13,761 8,196 2,444 543 2,142 27,086 |
Finance and administration costs include, but not exclusively, the following governance costs:
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Total Total
Funds Funds
Year ended Year ended
5 Apr 2021 5 Apr 2020
£ £
Independent examination 360 330
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
4. Short term investments
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Total Total
Funds Funds
5 Apr 2021 5 Apr 2020
£ £
Programme related investments 81,470 81,470
81,470 81,470
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Programme related investments consist of concessionary loans made to the Kasamba Honey Company Limited (KHC), a social enterprise in Kasamba, Zambia, in line with one of the objects of the Charity which is to support the development of employment initiatives and income generation projects. There is no set end date on the investment, and therefore is effectively repayable on demand.
As noted in the risks section of the annual report there are growing indications that the full amount may not be recoverable by the Charity, however due to the ongoing COVID-19 pandemic it has been difficult to carry out a full impairment review and establish the value of any required impairment. As a result no impairment has currently been recognised but the trustees are actively looking at options to support the KHC in the longer term and recover the amount invested to date.
5. Creditors – amounts falling due within one year
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Total Total
Funds Funds
5 Apr 2021 5 Apr 2020
£ £
Loans from supporters - non-interest bearing 46,000 44,000
Loans from supporters - interest bearing (5% pa) - 10,000
Accruals 360 330
46,360 54,330
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All loans from supporters are repayable on request.
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
6. Analysis of charity funds
| Unrestricted funds General funds Total unrestricted funds Restricted funds Education programmes Mumbeji project - medical clinic Mumbeji project - play centre Borehole Women's beekeeping project Women's clinic Total restricted funds Total funds |
Balance brought forward Year ended 5 Apr 2021 £ 25,592 25,592 - - - 4,465 92 55 4,612 30,204 |
Income received in year Year ended 5 Apr 2021 £ 26,286 26,286 5,240 8,881 1,572 - - - 15,693 41,979 |
Amounts expended in year Year ended 5 Apr 2021 £ (3,103) (3,103) (17,201) (5,250) (2,574) (3,050) - - (28,075) (31,178) |
Transfer between funds Year ended 5 Apr 2021 £ (12,963) (12,963) 11,961 - 1,002 - - - 12,963 - |
Balance carried forward Year ended 5 Apr 2021 £ 35,812 35,812 - 3,631 - 1,415 92 55 5,193 41,005 |
|---|---|---|---|---|---|
Education programmes
This is funding received to provide educational support for children, mainly orphans living in the community, including paying school fees, providing education materials, and supporting them with accommodation and subsistence. The Trustees agreed to subsidise this project from unrestricted funds.
Mumbeji project
This is funding received to support the work in the village of Mumbeji, including supporting education and healthcare in the village. The Trustees agreed to subsidise the play centre project from unrestricted funds.
Women’s beekeeping project
This is funding received in the prior year as a result of a fund-raising event organised by Golf 2 Golf Limited to help support a women’s cooperative set up a beekeeping social enterprise.
Women’s clinic
This is funding to provide “Bounty Bags”, which are given to women attending the women’s clinic for postnatal checks. The bags contain items such as nappies, clothing and baby soap.
Borehole
This was funding to drill a borehole for the Mumbeii Play Centre Project.
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Notes to the financial statements
Annual report and financial statements Year ended 5 April 2021
Wynaud Trust
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Balance Income Amounts Transfer Balance
brought received expended between carried
forward in year in year funds forward
Year ended Year ended Year ended Year ended Year ended
5 Apr 2020 5 Apr 2020 5 Apr 2020 5 Apr 2020 5 Apr 2020
£ £ £ £ £
Unrestricted funds
General funds 19,006 18,594 (2,285) (9,723) 25,592
Total unrestricted funds 19,006 18,594 (2,285) (9,723) 25,592
Restricted funds
- -
Education programmes 6,179 (13,761) 7,582
Visits from UK - 8,399 (8,196) (203) -
Mumbeji project - 100 (2,444) 2,344 -
Building project - 400 (400) - -
Borehole - 4,465 - - 4,465
Women's beekeeping project 92 - - - 92
Women's clinic 55 - - - 55
Total restricted funds 147 19,543 (24,801) 9,723 4,612
Total funds 19,153 38,137 (27,086) - 30,204
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Visits from UK
These donations were giving to support visits from the UK, including monitoring visits, as well as group visits to work alongside the education and health projects supported by the Charity in Zambia. The Trustees agreed to subsidise this project from unrestricted funds.
Building project
This was funding received to support building work carried out in the prior financial year.
7. Analysis of net assets
| 7. Analysis of net assets | |||
|---|---|---|---|
| Current assets Current liabilities |
Unrestricted Funds 5 Apr 2021 £ 82,172 (46,360) 35,812 |
Restricted Funds 5 Apr 2021 £ 5,193 - 5,193 |
Total Funds 5 Apr 2021 £ 87,365 (46,360) 41,005 |
| Current assets Current liabilities |
Unrestricted Funds 5 Apr 2020 £ 79,922 (54,330) 25,592 |
Restricted Funds 5 Apr 2020 £ 4,612 - 4,612 |
Total Funds 5 Apr 2020 £ 84,534 (54,330) 30,204 |
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Notes to the financial statements
Wynaud Trust Annual report and financial statements Year ended 5 April 2021
8. Trustee remuneration
During the year, no Trustee received any remuneration (2020: £NIL). No members of the Board of Trustees received reimbursement of expenses related to attendance at Trustee meetings (2020: £NIL).
9. Related party transactions
During the year there were no related party transactions (2020: £NIL), other than donations from Trustees totalling £11,299 (2020: £12,055).
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