RAINBOW FUND FOR soufH AFRICA INCOfvIE AND EXPENDtruRE ACCOUNT I AUGUST 201) to 31 JULY 2021 Notes 202y20 20201 INCOME Donations and events Grant5 Total Fundraisin8 Exchange dtfference refunded Income Tax Recovered (Gift Aid) Totsl Income 27.234 8,000 23.020 23,020 104 1,726 24.850 3.907 39,141 EXPENDITURE Expenses Gwfts to J L Zwane Centre. Gugulethu - Operating Costs Gifts to J L Zwane Centre, Gugulethu - Skills Project Bank Charges and Commission e Total Expenditure EXCESS OF INCOME OVER EXPENDITURE 660 25.585 20.596 11.000 123 26,368 (1,518) 32,404 6.737 OPENING BALANCES Lloyds Bank Royal Bank of Scotland Current Account Roayl Bank of Scotland Depostt Account Total Opening Balances CLOSING BALANCES Lloyds Bank Royal Bank of kotland Total Closing Balances NET INCREASE I (DECREASE) IN CASH BALANCES 29,158 1.222 31.740 155 3L898 35.741 1.376 37,117 6,737 29,158 1,222 30,380 (1.518) NOTES
The income is represented byfunds received from standing orders. tickets for events and other donations. Event . Dember 2020 (hristmas appeal and Calendars Event- July 2021 Mandela Day Garden Party Pearce Rood Memorial Fund Anonymous Donation Sponsorship through Standing Orders 1,195 3,765 5,323 5.000 11,951 27,234 A grant of £8.000 was received in November from The Philip Ing Charitable Trust specifically for the new Skills Project. Expenses are predominantly for printing material and for an event which we held online in December. The cost for the December event were to cover the cost of the pianist. Other expenses were paid for by the Trustees personally wtthout any c05tto the fund. Gifts to J L Zwane Centre. Gugulethu - Operating Costs £20,596 Fund5 to support the Rainbow School are paid to Stellenbosch University in South Africa who then transfer the money to the JL Zwane Centre for food for the pupils during temi, teacher salaries, the ¢ook's salary as well as contributions to the Centre's administrator and over-heads. The teachers. pay was increased in May from R37 per hour to R76 per hour making a totsl of Rl52 per session per teacher. Covid has had a profound effect on the charity in the year Thryth the sthool dosing for a period of time. During this time we continued to paythe teachers salaries. No food parcels were sent out during the pandemic this year as was the case in the prior year. Gifts to J L Zwane Centre. Gugulethu - Skills Project £ll,OCKJ A second bank account was opened in March forthe Skills Project and is administered by the two Centre Administrators who regularly provtde Statements of Expenditure. The rand equaivalent of the expenses for the Skills Project for the period February 2021 to July 2021 amounted to R246.987. The average exchange rate of R23.01 wa5 used for the period under review. Bank tharges have been avoided since payments to Uth Africa are now rnade through a Foreign Currency bank. TRUSTEES, REPORT
Th6 JL Zwane Centre's management team communicate with us and send us regular reports as to how they use the funds we send flexiblyto benefit the children. During the year we have exchanged emails land Meetings via Zoom) on the details of their finanaal arrangements. The payment made in December included a Christmas bonus for the teadiers. Our scrutiny rnea5ures include visit5 to the school from one of our Trustees who is resident in Cape Town. Unfortunately, due to Covid. Trustee5 from the UK were unable to vistt the school. The Trustees continue to take their scrutiny role seriously to ensure the money is spent in accordance wtth the donorfs expectstions blrt without burdenir8 a small project with UnneSary administration. Denise W Chair Da INDEPENDENT EXAMINER'S REPORT I report on the accounts of the Charty for the12 month perÉod ended 31 July 2021.
Respective ResFonsibilFties of Trustees and Examiner The Charitvs Trustees are resFX)nsible for the preparatKJn of the accounts. The Charty's Trustees consider that an audit is not required for this period under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examinakn'on is needed. It is my resp)nsibilty to.. . examine the accounts under section 145 of the 2011 Act.. and . to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act and . to state whether particular matters have come to my attention. Basis of Independent Examinerfs Report My examination was Car out in accordance with the General DirlOnS given by the Charity Commission. An examination includes a review of the xcounting records kept by the charity and a comparison ot the accounts presented with those rEfOFds. 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 Yrue and latr view, and the reF(irt is limrted to those matters set out in the statemerrt below. Independent Examiner's Statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in , any material respt. . Ihe accounting records were not kept in accordance with section 130 of the Chanties Act,. or . the accounts did not accord wrth the accounting record>. or . the accounts did not comply with the applicable requirements concerning the form and content o 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 Come across no matters in connection wtth the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the aco)unts to be reached. enn pie Date