#
##
##
||Page||
|---|---|---|
|Chairman's
Report|||
|A note from the Chief Executive Officer|||
|Strategic Report|||
|Report ofthe Trustees|4 to|27|
|Report ofthe Independent
Auditors|28 to|30|
|Statement ofFinancial Activities|3l||
|Statement ofFinancial Position|32 to|33|
|Statement ofCash Flows|34||
|Notes to the Statement ofCash Flows|35||
|Notes to the Financial Statements|36 to|46|
|Detailed Statement ofFinancial Activities|47 to|48|
#
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Level|||||
|---|---|---|---|---|---|---|
|||of|||||
|Risk||impac|Likelihood|Potential|||
|Category|Risk Title|t(1-5)|(1-5)|Impact||Steps to mitigate risk|
|Operational|Coronavirus|5|5|The virus is||We are exploring transitioning|
|||||restricting||some counselling
support to|
|||||programmes,||phone-based
(through
the|
|||||due to limits on||helpline)
and speaking with UBL|
|||||movement|and|to offer loan repayment
holiday to|
|||||gathering of||IGA groups. SURF staff are|
|||||people||working
I'rom home.|
|Financial|Funding|4|4|Use up reserves||Ensure that funding
opportunities|
||shortfalls|||in short-term if||are reviewed
at the board meeting|
|||||SURF unable||and leverage additional
resource|
|||||to sustain itself||offundraising
consultant
to|
|||||in long-run||identify new funding|
|||||||opportunities.|
|Financial|Cash flow|5|3|Lackof||Ensure adequate
cash flow|
||sensitivities|||liquidity
to||projections.|
|||||meet|||
|||||commitments|||
|Operational|Loss ofkey|5|3|Potential
threat||Ensure that staff are properly|
||staff|||to delivery|of|supported,
and that there are|
|||||projects||sufficient development|
|||||because of|a|opportunities.
Ensure that there|
|||||deficit of||are appropriate
consultants
to add|
|||||institutional||support ifand when necessary.|
|||||knowledge|||
|Operational|Safeguarding|5|3|Harm to||Ensure that our safeguarding|
|||||beneficiaries||policies are included
in our|
|||||and||partner reporting
requirements|
|||||reputational||and that beneficiaries
know about|
|||||damage to||whistle blowing policies so that|
|||||SURF||they know who they can report|
|||||||abuse to.|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||fund|fund|funds|funds|
||||Notes|||||
|INCOME|AND ENDOWMENTS FROM|||||||
|Donations|||2|50,556|66,011|116,567|120,311|
|Charitable|activities|||||||
|Charitable|Activity|||40,000|415,371|455,371|310,221|
|Other Incoming Resources||||758|3,512|4,270|8,775|
|Total||||91,314|484,894|576,208|439,307|
|EXPENDITURE ON||||||||
|Charitable|activities|||||||
|Charitable|Activity|||61461|46$,5$4|529&945|472,340|
|NET INCOME/(EXPENDITURE)||||29,953|16810|46,263|(33,033)|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought||forward||48,653|16,465|65,11898,151||
|TOTAL FUNDS CARRIED FORWARD||||78,606|32,775|111881|65,118|
##
##
||
31DECEMBER2020|||
|---|---|---|---|
|||31.12.20|31.12.19|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|13|24,813|18,629|
|CURRENT ASSETS||||
|Debtors||61,038|26,576|
|Cash at bank and in hand||491072|42,676|
|||1101110|69452|
|CREDITORS||||
|Amounts
faBing due within one year|15|(23/42)|(22,763)|
|NET CURRENT ASSETS||86,568|46,489|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||111,381|65,118|
|NETASSETS||111481|65,118|
|FUNDS|17|||
|Unrestricted
funds:||||
|General fund||78,606|48,653|
|Restricted funds:||||
|Restricted Funds||32,775|16,465|
|TOTAL FUNDS||111481|65,118|
#
#
##
##
|||||31.12.20|31.12.19|
|---|---|---|---|---|---|
||||Notes|||
|Cash flows from operating||activities||||
|Cash generated
from operations||||15,460|3,818|
|Net cash provided by operating
activities||||15,460|3,818|
|Cash flows from investing||activities||||
|Purchase oftangible fixed|assets|||(9,064)|(1,777)|
|Net cash used in investing|activities|||(9,064)|(1,777)|
|Change in cash and cash|equivalents||in|||
|the reporting period||||6,396|2,041|
|Cash and cash equivalents||at the||||
|beginning ofthe reporting||period||42,676|40,635|
|Cash and cash equivalents||at the end|of|||
|the reporting
period||||49,072|42,676|
##
##
##
|OPERATING AC|TIVI|TIES||||
|---|---|---|---|---|---|
|||||31.12.20|31.12.19|
|||||g||
|Net income/(expenditure)||for the reporting|period (as per the|||
|Statement ofFinancial||Activities)||46,263|(33033)|
|Adjustments
for:||||||
|Depreciation
charges||||2/372|1,478|
|Other||||508|18,663|
|(increase)/decrease|in debtors|||(34,462)|16,330|
|Increase in creditors||||779|380|
|Net cash provided|by operations|||15,460|3,818|
##
##
|ANALYSIS OF CHANGES IN NET FUN|DS|||
|---|---|---|---|
||At 1/1/20|Cash flow|At 31/12/20|
|||8||
|Net cash||||
|Cash at bank snd in hand|42,676|6@96|49,072|
||42,676||49,072|
|Total|42,676|6@96|49,072|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|DONATIONS|||
|---|---|---|
||31.12.20|31.12.19|
|Donations|100,921|89,000|
|Gift aid|7,977|12,605|
|Donated services and facilities|7,669|18,706|
||116,567|120,311|
|OTHER INCOMING RESOURCES|||
||31.12.20|31.12.19|
|Agency Income|3,512|7,077|
|Other Surf Rwanda Income||1,290|
|Interest income|758|408|
||4,270|8,775|
##
##
|||FOR THE YEARENDED 31DECEMBER 20|FOR THE YEARENDED 31DECEMBER 20|FOR THE YEARENDED 31DECEMBER 20|FOR THE YEARENDED 31DECEMBER 20|FOR THE YEARENDED 31DECEMBER 20|20||
|---|---|---|---|---|---|---|---|---|
||INCOME FROM|CHARITABLE ACTIVITIES|||||||
||||||||31.12.20|31.12.19|
|||||Activity|||||
||Grants|||Charitable|Activity||455,371|310,221|
||Grants received, included||in the above, are as|||follows:|||
||||||||31.12.20|31.12.19|
||Foundation
Rwanda||||||12,255|26,905|
||INSPIRE!africa||||||50i225|50,579|
||Anonymous||||||70,000|50,000|
||Charities Advisory|Trust (Good Gifts)|||||55,685|44,337|
||Charities Aid Foundation||(CAF) America||||2,169|3,499|
||Network for Africa||||||30,874|37,648|
||Legal Aid Forum Rwanda|||||||32,912|
||Addax &Oryx Foundation||||||30,580|38,276|
||Clifford Chance||||||83,366||
||UK Foreign, Commonwealth|||and Development||Office (Empowering|||
||Vulnerable
Genocide Widows in Western||||Rwanda to Alleviate Extreme||||
||Poverty (EVWEP)|project)|||||120,217|26,065|
||||||||455,371|310,221|
|5.|CHARITABLE ACTIVITIES COSTS||||||||
##
##
##
|6.|GRANTS PAYABLE|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.12.20|31.12.19|
|||||||||8|5|
||Charitable
Activity|||||||365,684|272,032|
||The total grants paid to|institutions||||during the|year was as follows:|||
|||||||||31.12.20|31.12.19|
||||||||||5|
||Community
Projects (Shelter)|||||||39,535|5,680|
||Foundation
Rwanda|||||||22,095|23,685|
||Youth Entrepreneurship|Training|||Programme||(YETP)|23,404|16,011|
||Project Umubano||||||||7,954|
||HIV +Survivors
Empowerment|||Project (SEP)|||||5,973|
||Community
Counselling|Initiative|||(CCI)|||40,883|66,565|
||Good Gifts Project|||||||112,889|45,511|
||Reaching Rwanda Project|||||||36&050|49,114|
||University
Student Support||Programme|||||1,163|2,879|
||Supplementary
Entrepreneurship||||Support|||11&786|3,930|
||Supplementary
Educational||Support|||||7&917|3,768|
||Empowering
Vulnerable|Genocide||||Widows in|Western Rwanda to|||
||Alleviate Extreme Poverty||(EVWEP) project.|||||66452|13,077|
||Empowering
Vulnerable|Genocide||||Widows in|Karongi District to|||
||Alleviate Extreme Poverty||(EVKEP) project.||||||27,885|
||Other Agency Costs|||||||3,710||
|||||||||365,684|272,032|
|7.|SUPPORT COSTS|||||||||
||||||||||Human|
||||||||Management|Finance|resources|
|||||||||5||
||Charitable
Activity||||||39,565|11,818|6,049|
##
##
##
##
##
||Premises|Other|Governance||
|---|---|---|---|---|
||Costs|Overheads|costs|Totals|
|Charitable
Activity|13,995|7,669|4,800|83,896|
|NET INCOME/(EXPENDITURE)|||||
|Net income/(expenditure)|is stated after charging/(crediting):||||
||||31.12.20|31.12.19|
|Auditors'
remuneration|||4,800|4,800|
|Depreciation
-owned assets|||1,647|1,478|
##
##
##
||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|
||||||8||
||Trustees' expenses|||||357|
|10.|STAFF COSTS||||||
||||||31.12.20|31.12.19|
||Wages and|salaries|||69,414|66,916|
||Social security costs||||4,795|4,732|
||||||74/09|71,648|
||The average|monthly|number ofemployees|during the year was as follows:|||
||||||31.12.20|31.12.19|
||Charitable
Activities||||7|7|
||Management|and Administration|||1|1|
##
##
||FORTHE YEAR ENDED 31DECEMBER2020|FORTHE YEAR ENDED 31DECEMBER2020|FORTHE YEAR ENDED 31DECEMBER2020|FORTHE YEAR ENDED 31DECEMBER2020|||
|---|---|---|---|---|---|---|
|11.|COMPARATIVKS FORTHK STATEMENT OFFINANCIAL ACTIVITIES||||31.12.2019||
||||Unrestricted|Restricted||Total|
||||fund||fund|funds|
||INCOME AND ENDOWMENTS FROM||||||
||Donations||62,046||58,265|120,311|
||Charitable
activities||||||
||Charitable
Activity||||310,221|310,221|
||Other Incoming Resources||1,698||7,077|8,775|
||Total||63,744||375,563|439,307|
||EXPENDITURE ON||||||
||Charitable
activities||||||
||Charitable
Activity||74,641||397,699|472,340|
||NET INCOME/(EXPENDITURE)||(10,897)||(22,136)|(33,033)|
||RECONCILIATION|OF FUNDS|||||
||Total funds brought|forward|||||
||As previously
reported||78,936||38,601|117,537|
||Prior year adjustment||(19,386)|||(19,386)|
||As restated||59,550||38,601|98,151|
||TOTAL FUNDS CARRIED FORWARD||48,653||16,465|65,118|
##
##
##
##
||||||||
|---|---|---|---|---|---|---|
|13.|TANGIBLE FIXEDASSETS||||||
|||Leasehold|Plant|and|Motor||
|||Land|machinery||vehides|Totals|
||||5||||
||COST||||||
||At 1 January 2020|15,935|47,226|||63,161|
||Additions||||9,064|9,064|
||Exchange differences|(1&154)||(79)||(1,233)|
||At 31December 2020|14,781|47,147||9,064|70&992|
||DEPRECIATION||||||
||At 1 January 2020|703|43,829|||44,532|
||Charge for year|260||248|1,139|1,647|
||At 31December 2020|963|44,077||1,139|46,179|
||NET BOOKVALUE||||||
||At 31December 2020|13&818|3,070||7,925|24,813|
||At 31December 2019|15,232|3,397|||18,629|
|14.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE||YEAR||||
||||||31.12.20|31.12.19|
||||||8||
||Trade debtors||||7,977|13,657|
||Other debtors||||53,061|12,919|
||||||61&038|26,576|
##
##
##
|CREDITORS: AMOUNTS FA|LLING DUE WITHIN ONE|YEAR|||
|---|---|---|---|---|
||||31.12.20|31.12.19|
|Trade creditors||||63|
|Social security and other taxes|||3&271|2,840|
|Other creditors|||20,271|19,860|
||||23,542|22,763|
|MOVEMENT IN FUNDS|||||
||||Net||
||||movement|At|
|||At 1/1/20|in funds|31/12/20|
|Unrestricted
funds|||||
|General fund||48&653|29,953|78,606|
|Restricted funds|||||
|Restricted Funds||16,465|16&310|32&775|
|TOTAL FUNDS||65,118|46,263|111,381|
|Net movement
in funds, included|in the above are as follows:||||
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|Unrestricted
funds|||||
|General fund||91@14|(61,361)|29,953|
|Restricted funds|||||
|Restricted Funds||484,894|(468,584)|16810|
|TOTAL FUNDS||576,208|(529,945)|46,263|
##
##
##
##
##
##
||||Prior|Net||
|---|---|---|---|---|---|
||||year|movement|At|
|||At 1/1/19|adjustment|in funds|31/12/19|
|Unrestricted
funds||||||
|General fund||78,936|(19,386)|(10,897)|48,653|
|Restricted funds||||||
|Restricted Funds||38,601||(22,136)|16,465|
|TOTAL FUNDS||117,537|(19,386)|(33,033)|65,118|
|Comparative
net movement||in funds, included in the above are as follows:||||
||||Incoming|Resources|Movement|
||||resources|expended|in funds|
|Unrestricted
funds||||||
|General fund|||63,744|(74,641)|(10,897)|
|Restricted funds||||||
|Restricted Funds|||375,563|(397,699)|(22,136)|
|TOTAL FUNDS|||439,307|(472,340)|(33,033)|
|Analysis ofRestricted Reserves||||31,12.2020|31.12.2019|
|Addax dt Oryx Foundation|||||11,616|
|Legal Aid Forum Rwanda|||||4,849|
|UK Foreign, Commonwealth||and Development
Office||||
|(Empowering
Vulnerable|Genocide Widows in Western|||||
|Rwanda to alleviate Extreme||Poverty (EVWEP) project||32,775||
|||||32,775|16,465|
##
##
##
##
##
##
##
||FOR THE YEAR ENDED 3|1DECEMBER 2020||
|---|---|---|---|
|||31.12.20|31.12.19|
|INCOME AND|ENDOWMENTS|||
|Donations||||
|Donations||100,921|89,000|
|Giii aid||7,977|12,605|
|Donated services|and facilities|7,669|18,706|
|||116,567|120,311|
|Other Incoming|Resources|||
|Agency Income
Other Surf Rwanda Income||3,512|7,077
1,290|
|Interest income||758|408|
|||4,270|8,775|
|Charitable
activities||||
|Grants||455@71|310,221|
|Total incoming|resources|576,208|439,307|
|EXPENDITURE||||
|Charitable
activities||||
|Wages||69&414|66,916|
|Social security||4,795|4,732|
|Networking
and|Advocacy|1,765|2,404|
|Travel and Subsistence|||1,001|
|Internet Expenses||2,451|1,914|
|SURF UK Related Expenses|||182|
|Provision for Severance Pay||(432)|474|
|Depreciation oftangible fixed assets||2&372|1,478|
|Project Costs||365,684|272,032|
|||446,049|351,133|
|Support costs||||
|Management||||
|Trustees' expenses|||357|
|Carried forward|||357|
##
##
|FORTHE YEAR ENDED|31DECEMBER2020||
|---|---|---|
||31.12.20|31.12.19|
|Management|||
|Brought forward||357|
|Training
and Welfare|13,593|11,467|
|Travel and Subsistence|5,972|8,550|
|Consultancy
Services|20,000|20,000|
||39,565|40,374|
|Finance|||
|Foreign Exchange Difference|11,027|40,487|
|Bank charges|791|831|
||11,818|41,318|
|Human resources|||
|Consultancy
Costs|6,049|4,000|
|Premises Costs|||
|Rent|6,832|6,407|
|Light and Heat|859|937|
|Telephone|2,461|1,933|
|Postage and stationery|834|321|
|Cleaning|3,009|2,411|
||13,995|12,009|
|Other Overheads|||
|Advertising|7,669|18,706|
|Governance
costs|||
|Auditors'
remuneration|4,800|4,800|
|Total resources expended|529,945|472,340|
|Net income/(expenditure)|46,263|(33033)|