Chulrnlei Report of the Trustees and Unaudited Financial Statements For the year ended 31st December 2020
SEEWAYTRLIST coptrENTSOFTHEFINANCJALSTATEMEPIIS for the year ended 31° December 2020 Page Report oftheTrustÈeS Ito5 Independent ExaMineS Report Statement of Fiftantial Activi Statement of nanCIal Posrtion NoteStOthenanClalstatnts 9toll Detailed Statement of finanaal Activit
SEEWAY7Rusr REPORTOFTHETriISTEES The trustees present their report and finanaal statements for the year ended 31st December 2020. The trustees have adopted the provisions of A£countirk8 and Reporting by Charities: Ststement of Recommended Piartice appltcabie to chartties preparingtherraccounts in accordan with the Financbal Repw)FtingStsndardappli(zble in the UKand Republ1¢ of Ireland IFRS 1021 leFFective ljanuary 20151. SeewayTTUSt ts a ChrTStian Charrty constituted under a Tntst tked dated 2e February 1999. The Trust is dedKated to rescuing orphaned and abandoned children who live in impoverished areas of the wortd. The principal aim is tts provide these children with food. a home as part of a carin8 famity. a gc#)d edutration and a fithre in line withthe Trusts objectsves which are.. the adwdncement of the Chri1•fi religion worlde. the refief of persons who are in need, hardship or distress arKI the èdVanceThnt of edLKation. Thls is belng athleved by developing strong links with long-term mtssionarS to identify areas of need. establrsh orphanages, build and equip medtcal and education facilÈknes fvrthe public beneftt. Where appropriate. nor government organisations ING(Ys1 are set up with a voluntary board of directors made up of key l¢xal members of the commun5ty who work with the massronaryto oversee the dayto dayopwattOn5, erwre the fvnds are used fortheir designated PUTpose and report back to Seeway TrusL The Servi offered i5 available to orphaned or abandoned children regardless of race. gendèr. dr5abilty or religlon. Projects are developed wtth regard to the (arity Comrntssion's guidance on wbltc bengftt and the trustees ensureth all work Underta is in linewth theTS tharÉtrble objects and aim Both the initial donation and add(Ma[ amounts donated Sin have been undertern)s whith allow the Trustees to ètther retsin the amounts as CaPTtal orto Spend them. The Trnstdeed 8 the Tnjstees the pvwerto appWthe fund5 tn suth a mannerès thèy think fft for the benefft of any tharltsble objert or purpose. The TNstees identify projects and orgaDÈsations they wtsh to support andtheTru5t ts not in a trOn to make grants to organigtion5 who app speculativejy. Procedures and policy for grant making Seeway Trust is committed to providing long-temi financÉal 5UPPOrt to ensure the continutyof are fororphaned and abandoned ¢hiklreD- currently in Ghana. Tanzania. Ukraine and Jmbabwe. To this end. the Trustees meet regularly to receive report5 and review the level of 5UPPOrt based on thtI$ received tts date. The Trustees obtain written report5 on the artu31 use of the grants given and the ach[em made. Grants to Tanz3ni3, Zimbabwe and Ghana are made monthly. Grantsto the UkFaine are made ann41¥. SeewayTrust depends on regUlardc*tI0nstO pr(Nide consstent SUPPOrtto ensurethe eortinuity of care tor orphaned and ab3ndoned children. The success of the work ts based on and determined by the latIonShipS between Seeway Trust UK, the existing teams in Ghana. Tan2ar4ia. the Ukraine and Jmbabwe and the donor5. While the Trustees are deepty moved bythe pli8ht of children Fn TKdrtom count. theTru5t does not havt thè resources availabt0 provtde emergen¢yfvnd4 Public benefft The CharJtyèckr50edgeS its requiremertto derr)nte dearlythat it must have ch3ritable purposes or"alm< that are for the public benefft. Detsils of how the Chai¢ty ha$ 3thteve(l this are providèd in the Trustee report. The Twstees confim thatthey have paid due regard to the CharityC(Nnmission guida[ on pl1[C benefft before deiding what activities the Charsty should undertake. Pag¢ I
SEEWAYTRU forthe year ended 31 December 2020 Achle%mwrt and Perfomwxe Charitable activities The Trust Continues to work in partnership within Afrts and the Ukraine. L GHANA Bawjiase. Central Ileglon: The CountrydÈ Childrett'5 Home has been supported lrythe Trustsin 2(m, with deueasing amounts offundin8 gNen as each young person has either left the Home to pursue further education orto attain work. Those who have moved on still revisit the Home and the T[ retains an intttèst in their petsonal de¥elopmenL liural (krtreath Foundatm (ROF) based in Actra has be visiknng rural viElages and towns on a r4uFar ba515 for over 15 aT5, Starting Churches and being a part of devekjpingthe Spirial dimension of those who INe there. In working with the Child Evan8elism Fellowship as well. thildren are also reathed. taught and encouraged In theif own spirttuèl 8rowth. The TtpTeam a new extension of the ROF and SEEWAyTrLWith the CTIW (Children & Teerts tn Wor5hipl. The team ha5 been registered as an NGO in Gharta from February 2020and togetherthe teaM 5eek5 to improvethe educational and spirbtual devek)pment of children as supported by any of the trt partied agencie& The North Iworknng with Christ Lfft Community (hurthl (ICC Thi5 is a new work for Seeway in as much as CLCC has be8un to open Churches and provide Gospel training forAdults and Sunday School teathingfor around chlldren across 5 Churches that currently meet under trees. The Trust has enabled training to take place for Sunday school teachers, AdulttrdÈnirkg tn the Christian faith. Baptisin& purchase5 of a Bicycle and Motorbike forease of tr4rk4portation over a huge geograph5LBI area, and is currentty helprngto raise fvnds for Social Enterprise sustsinabllityto take place by buying and plantin8 Coconut tr I TANZANIA The Partnership enjoyed WTth SeewayTan2ania hzs rh)w been in eXtsn 5iTh 2005. Et ts a h[[ge successful work In northern Tantsnia whereby rescued children of all ages to adulthood have been supported. cared forand educated. Families have a150 been supported by the butlding of goat Sheds and giving other5tcKk so asto grow on and bring extra incomes in forthemsefves. Although not a$ 4ffpcted as SOW other countri, theCryid pandemic has stopped èll usual visltors coming tothe Home to help wtth the work of SeewayTan28nk3. On a positive note,Trhase 2 of thèJSS ha5 be8un to be buift Trn Ortober 2020. 3. ZIM8A8WE Work6ftÈ with the Rehoboth Mlntstry in Bulawayo. rnbab sints 2010. Mark and Dorcas Nicholson have adopted and ared for, currentty. 9 children who make up the Nichotson family. Eath child is educated and provtded with a loving close fami unti. SeewayTnJst provides part otthe overall fv[ing that Re)I)th [lue each rn(Jnth and regular Newsletters are received from them. L(fe in Zimbabwe. is not atall as we know it tn the UK. Inflated Pri on all goods, utilitie5 and food has conslstentjy proved eXtreffle thallen8inB forthe familyfor a very k¢ng time. howeverthey do stand as a testimony to many other local people that God is indeed theirsupplter. as both Mark and Dorcas are people in helping many other local folk in Meeting their nee(ts. This year ha5 seen every aspect of life severety affected bythe Covid pandemK on top of the usual hardshsps. 4. UI(IIAINE 2020 h3s proved to te a diffictFIt year in the Ukraine. Because oFthe Covtd pandemicthe Governmerrt shut down all means of Church activityforfÈeding thildren and aduks. Even $0 the Church supported by the Trust caffied on helping by prowdingfood rations ti¥1 a mryrth enou8h to keepthe familTe5 and chIldn fed. By making excess crops available. the thildren and famTi could come and help themselves rf need be. In summory. abroad, Seeway Trust continues to develop retationships like-minded indigenous people in developing countries who have a heartto"rescue chlldren". We are extremety grateful to all oursupporter5 who are so Benerous in their giv4ng. Through ther finanaal suppor¢ we are able to provide +Inerab1È children with a safe home, a hope and futltre, while showin8 them the praetital outworknng of the love of our Lord Jesus Christ thus enablingthem to become responsible adttlts. capable ofcaringfortheir ovffl families on attarnrng adulthood. At home, SeewayTrust ffjntinue5 to WO wtth individuals and tocal Churthes who PFacbcalty partner with theTru5tto enable so muth more to be done.
SEEWAYTrUST REPORT OFThETRusfEE5 forthe year ended YIM Decem 2020 Contributsons mode byvolunteers-The Trust is verygrateI to all its v0nterS who provide theirtyme and expertise. Benefft in kind-office Spa is donated with a contributrontQ4Y4rds the telephonefinternet costs beingthe only liability. Heat. light and Water8 induded in the donated spacL The Trust has a polity of remitting any restricted donations deared throu8h the bank on the next due payment date. The exception to this is fimbabwe as the beneficiaries have requested that SeewayTrust hold on tofunds received over and abovE their regular grant to assist their budgeting. TheTrust ha5 no permarsent endowmeni orfixed assets. The nèt incomin8 resour. after grants ènd operational expprw of £79S251201. l.135)fOrth8 yÈar w?5 £4,965 12019.. oul80ill8 £12.9)71. Reserves- The tnjstees have a reserve5 policy whith requires that rese be malntsird at a level whKh ensure5the organisation's core activity ctyjld continue durin£ a period of unforeseen difficulty. The reselves are maintsined in a readily realisable fom). The calcuFation of the required level of reserves is an integral part of the organisation's plannin budget and forecast tyde. It takes into account-. l. Rlsks assoaattd wtth each stream of income and exper[re beidIfferentfrOM that budgeted planned èctNity level 3. Organlsation's commitments The level of Unrestricted reserves a5 at 31" Decernr 2020 is £9.653 Future plans The Trustees intend to continue pru¥iding grants in a similar way while retsining flb}Irty as to the timin& and scale of grant making. Independent Examiner The Trustees intend to invitethe existinB iT¢dependent examinerto undertakethe independent examinatlon of theTTU5t in the folkswing year. RlskAssessment The TrtFst is aware that theworlthde activibes a subiett to 4nTFKant risks and theTeftJre rewewthese risks on an on- 80inE basis to ensure adequate systems and prdre$ are in pla. ff key objectives are to be achieved, the trustees accept that the management of risk is ine4itabte. The risksthat have been identrfted are: nancial- sufficient funds area¥aUat4e to fvlfill the aims of the tharity. Operational- risks to volunteers. particularly irt areas of unresL Achievement- erLsurin8 our aims and obJ'ecti¥es and expectthns of supp)rteY5 are met. In reviewlngthesÈ ri5k5. we ensure: U05e monitoring ofcash flow and adherenceto agreed budgets Regular monitoring of projects oversees throtryh key reporting and vi5Tts Regular assesSmt to ensurfng existÉrbg and new projects confom to the gvernll objettwes of the tharlty. Go¥emlngdo¢ument SeewayTrust is a thristian CharÉty Constit under a Tr4tst Deed dated 2V Febrnary 1999. The trust deed prowdes for a minimum of 3 fru5tee5. Wherethere is a requFrement for newTrustees, these would be identsfied and appointed bythe remaining Trustees. The Trustees a unpaid and detaiLs of trustee eypenses and any retated partytransactions are fisdosed in SertN)n C. Note 28 to the accounts.
SEEWAYTRU REPORTOF THETRiISTEES forthe year ended 31" December 2020 All Tmsteès arèsubiect to a checkthrough the 0ClOSure and Barring ServKe. The Chair of Trustees is responsible for the induction of any new TTUStee which involve5 awarene55 of a Trustee's responsibilities. thè governing documen¢ administrative procedvres, the history and approach of the tharity. A newTrustee receive5 (wies of the previous yearfs annual report ¥nd accounts and a copy of the Charity Commission leafiet Ihe Essential Trnsteè: What YOLJ Need to Knov/ togetherwith copies of the prevh?us yearfs minutes of Trustee ThIng5. Futu pl4n5 The Trustees intend to continue pru4iding grants In a slmilar way while retslning flexiblltty as to the timin& and Scale of grant making. Chartty law requires the TDJstees to prepare financial state1Tnts for each finandal year which show a true and fair vlew ofthe stste of affrdir5 of the charity and its finantial athvsbesfor that period. In prepari those financial statements. the Trustees are required to: seFett suitable accounting po15C5es and then appfy them consistenty. makèjudgments and estimatesthat a reasonable and prudent: state whetr appltcable accounting standards and statements of recommended pradice have been followed. subject to any dèpartures disc105ed and explained sn the financtal ststements; and prepare the financial statements on the 80in8 COnM basis unless it is inappropriate to presume that the tharlty will contÈnue in gpeFational existen. The Trustee5 are responsible for keepÉng proper accounti records which disdose with re350nable accuracy at any tlme the financial po5itÉon of the chatity arml to enablè them to ensure that the financial tstements compty with the Charities Art 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other wregulariti
SEEWAYTRusr RElRTOFThE TRUSTEES for theyeareth 31# December 20ZO Reglstered name Seeway Trust Re¥i5tered awlty number 1047868 Principal address Ford House Eggesford Devon EX18 7JY Trustees 14ame Mrs Salty BaiAborou8h Mr Frank Afriwe Mr George Bainborou8h Mr Anthony Cordon Chair Treasurer Independent Examiner Magrtrus Proctof FFA L¢ndisfaTne Landkey Road Barnstaple Devon EX32 98W Bankers: The Co-operative Bank PO Box 250 Delf Hotsse Skelrnersdale WN8 6wr Approved bythe board of tnL5teeson Marth 2021 and 4ned on its behawby. George 8 int?orouBh. Chair Page 5
INDEPENDEKfEXAMINERSREPORTTOThETRLIStEE50FSEEWAYTRUST Indepettdent &Yamtner's iewt ta thetru5tees SeewayTntst I report to the charitytrUst on rny eyamination of the ¥counts of SeewTrust (the Tn) for the year ended 31st Decembef 2020. ResponslblHtles and Iwis of report As the tharity trustees of theTTU5t you are resPs1b1e forthe prep3rion of the a(tounts In accordance with the requirements otthe CharltaÈ¥Art 2011 l%he Arfl. I report in respett of myexamination of theTrust¥accout)tscarried out under section 145 of the Act and in (orrylnE out myexamination I havefollowed all appfKable Direction5 en bythe Charity Commission undersection 14515llbl of the Independent examinerfs statement I have completed my examination. I confimi that no material matters have ¢ometo my attention in ¢onnection with the examination giwn8 me ouse to be1èthat in any rftaterial respecL accountingrecords wère not keptin respertof theTrustas required bysertion 130 of the Act; or the accounts do not accord wth those records.or theaccountsdonotcomplywrththeapplicabFe Tequiremerrtsconterningtheforniand contentof a¢¢ounts5et out in the CharitFes (Accounts and Reports) RegulatFons 2LW other than any requirement that the accounts give a trueand fairvsewwhith 15 not a matterconsidered as partof an independent examination. I confirm that there arè no£her matter5 to whith wUrattentI Should be draT*m to enable a proper understandin8 of the accounts to be reath Signed: Magnus Proctor FFA Fellow of the In5tiiute of Flnan¢ial Accountants Lindisfame Landkey Road Barnstsple Devon EX32 98W 3 Marth 2021 Date..
SEEWAYTrLisr ATEMENfoF FINANCIALAcriviriES forthe Year Ènded 31" Detember2020 20 nds Oonatlonsand legacies Investment income 6357 78,111 84.468 58,222 6379 78.111 84,49LI 58.228 Raising funds Charitable actiwitie5 Advancementof thechristlan Faith 77.637 79.525 71,135 77.637 79,525 71.135 Net Incomln81 (Outy*l resour 4.491 474 4.965 112,907 Transfer ttheen funds (4.649) 5,123 4.965 112,9071 Reconcifth of Futtds Total Funds brou8ht forward 9,811 25.271 38,178 9h53 ZOM3 30236 15271 ThenotesfompartoftheseflnancwlsrtS
SEEWAYTRusr srATEMENfoF FINANaALposmoN At 31° De£ernr 2020 2019 Totsl funds funds CurrentAssets Debtors Castf at bank 206 9.697 1.7(N) ,883 28.580 24,557 9.3 30A86 25,521 Curren* Lial)Ilities Amounts falling due within one year {2501 {250 12501 Cur¥entAssÈts less Ctsrrent Liabifrties 9.653 20583 30.236 25271 Total Assèts less Curvwrt UaknTrtles 9,653 20.583 25.271 Funds Restricted funds Unr£stricted funds 15.460 9,811 9.653 9.653 Total fun(ts 9,653 20583 25.271 The financial statements were ap ¥ed bythe 803rd of Ttee5 on Marth 2021 and were signed fft tts behalf by: George Bainborough Chair /J'il Page 8 Thenotesfompartofthe5efinaftc4alsfaiwMts
SEEWAYTRusr L kcounting PolKie5 The financial ttatements of the chartty, which 15 a public bet7efft enttty under F115 101 have been prepared in accordance wtth the tharities SORP IFRS 1021 'Accounling and Reportlng by CharitiÈ5: Ststement of Recommended Prattl applicable to th3fFbe5 preparing their accounts in accordan vrith the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021 (effective l Jansjary 20151,, Fsnancial Reporting Standard 102 Yhe Financial Reportin8 Standard applicable in the UK and Republic of Ireland, and the Charrties kt 2011. Thè financial statements have been prepared underthe htstorical c05t convention. The trustees consider thatthere aTr rn) material uncertaintie5 about the charivs ability to continue as a going concern. In¢ome All income is recognised in the Statementof Financial ACtfvI Onthe thaiity has entitleme¥rt to the fvnds. It is probable that the income will be received and the amount can be measyred reliably. Liabilities are recwiised a5 expenditure as soon a5 there is a leeal or Constru obti8ation commithng the tharitytothat expenditure, Ft is probablethata tran5Fer of econom benefits be requir¢d in Settlement and the amount of the obligation can be measured reliabty. Expenditure isaccounted fr)r on an ac£ruals basis and has been classtfid under headings that aggregate all c05t related to the category. Where costs cannot be directly attribu to particular heading5 they have been allocated to aCbvIt on a basis consistent wFth the use of resOurs. The charity is exempt from tax on its charitable actNitie Trade and other debtors are re¢o8nised at the settknnt aThKwFEL Prepayments are valued at the amount prepatd. Cash at bankand in hand Cash at bank and in hand tndltdes cash. current bank attounts and depoyt bank accourrts with no withdrawal limitations. Creditors arè recD8nised where then charity has a present oblbgation resutting from 3 past event that will result inthetransfer of hjndstoa third partyandtheamountdue tOsetttheOb1i8tyOn (an be me35ured orestimatèd reliabty. Credttor5 are recognised at their settlement amount Fund ac¢ountln8 Unrestricted funds can be used in accordancÈ with the charitable objecknves at thè discretion ofthe trustees. Restrirted fvnds can onty be used for particular resiTitted purposes withift the objects of the dwrity. Restrictions arise when spetified by the donor or when hjnds aFe rdssed for partirJJkr restricted purpose% Further explanation of the natt and wrpjse ofeath frjnd is iFx4uded in the notesto the financial statemen ThenotesformpartofthesefinancialAm*s
SEEWAYYRusr 2020 Donatlons GiftAid received 5,202 1,155 71.287 6,824 76,489 7.979 6,357 78.111 Donations Gift Aid rÈtsNed 8.ni 1,249 43.823 4.439 52,534 5,688 4&262 2020 Intefest income 22 Interest income Church tharitable actV4rtie5 Support costs 77,637 77.637 77,637 79,525 2019 Churth tharitsble activities Support C05tS 67,9 67.956 3.179 3.179 3,179 67.956 71,13S S. Analysls of>wport wsts Independent examiner offi costs Trustee expenses Bankfees L617 1,554 1,353 22 21 3,179 2020 2019 PrepayTnents and acuued income ThenoteSft)MrtOfthesefinandalsl*DriS Page io
SEEWAYTRU5r NOTES TO THE F114ANaALSTATEMENTS 2019 Accruals and deferred income 250 250 250 Mo¥ement lft Funds Balan UnrestrfctÈd Funds General Fund Rese 31" Dec 2020 9.653 9,811 6.379 11.8881 14.6491 Totsi Fund5 9.811 6.379 limi 14.6491 9,653 UnreStrIct Funds Balance i"Jan 20 3.619 Ewdlture Transfe Balan 31" Dec2019 9.811 General Fund ReseNè 13.1791 Totsl Fund5 12.749 13.1791 14.r251 9,811 Balance l Jan 2020 43 Balan 31" Dec 2020 1,792 10,801 Ghana Tanzania Ukrnine Zimbabwe Project Exodus 11,889 I.688) 144.3911 (1.9811 (16.177) li.4) (1801 469 1.512 16,830 6.637 396 1146) 100 Total Fund5 15.460 7&111 177.6371 4.649 20.583 Restrkted ndS Balan I"Jan 2019 Ghana Tanzania Ukraine Zimbabwè Project Exodus 31" Dec 2019 43 8.382 7,966 25,423 1,272 18,170 113,5511 129,2921 {2.0321 {22.976} 1105} 3.918 12.253 707 li 6.637 396 Totsl Funds 25.429 53262 167.9561 4,725 15.460 None of the tnjstees have been paid any remuneratron or receNed any beneffts from an employment with the charty or a related entity. P3ge li
SEEWAYniusT 20 Dunations and le8ades Donations Grfi Aid receNed 76,489 7,979 52.534 5,688 58,222 Investment incorne It)terest recelved 22 To>1 incoming resources 58.228 FurKlroisin8 Costs Charriable artivitie5 Ghana Bawiiase Home ilage school ROF Vlllage school ROF education General expense5 Tan&inia Sponsorship Education Rebecca Extras General èxpenses Ukraine GenerHI expenses Zlmbabwe General exper Vehtclè Costs School costs Property costs 422 4,499 789 3.180 3,512 6,070 6,723 10,039 7,011 1,925 3.125 22,291 9.383 6.023 1,2 11686 2.032 2,032 10.605 17,976 250 750 461 4,711 Projert Exodus 105 77fi37 Support costs Independent examiner Offi¢e ¢osts Trustee expenses Bank charges 250 1.617 250 1,554 1.353 22 3J79 21 Totsl resour5 expended 795 7L135 P4et Incamirylloutzoi) res 4965 1490 Page 12