(Reg18t￿l Chwlty Nunber1095767) Fw th• •nd•d 31 IAwth 2021 (Regls1Thl Clwlty N￿￿1￿ 1095767) AccouKrs 31 Iparch 2021 5TATEI•Elff OF TRUSTEES RE5tI(76lBIUTIE5 INDEPENDENf EWNERS REPORT BALANCE 5HEEr 10 11 1*￿TE5 TO THE ACCCXIMTS 12 {ReBtstff￿ Charlty NwnL*r 1095767) FERENCE AND AIM¥NIStRATIVE D￿Al Trustees Wllllam F￿tOn Gall Fulton Rachel LInd1￿ ( aprdntsd PlJarw. 2(r11) Nlck Moss i agwnteL17thJaiKqry. 2lJ21 ) Ben Rudman Glles Harrlson Prlndpal 57 B151e4 Roftd 5tr0ud GLouC￿t•￿h1I• GLS 1HF Bank•r5 HSBC Bank pic 99 - 101 Lord Street. LI 6PG Serotor House. 85 Queen Vfctorla street, don EC4V 4ET Ind•pend•nt EMmln•r Peler Taaffe FCA cfA DCh4 BWM Chartered kn￿ntants Sulte 5.1 12 Tlth•b•rn Str••t LlveTwNA LZ 2DT Sollcltors Brabners LLP, Horton Howe Exchangè Flags L2 3YL The acctyjnts have been wewred fn accord￿ wlth the accl￿ntIN4 ￿lIcIeS set (xrt In note 1 to the accounts and comply w1th the charfty's tntst deed, the ChaTltttt *£t 2011 and "Ace￿ntIng and Rewtlng by Charltfes: Statement Re￿rtIn¢ Standard appllcable in the UK and R•￿Ik of Irel*kl (FR5 102) (￿ anmded for perlods commendng fn)m 1 JaNary 2016). The accounts have departed from the Charltlej (kcwits and Repwbl Rryjlotlom 2(M)8 only to the extent requlred to provlde a tn￿ and falr vlew. Thts departure has In¥ri¥*d foU*ar.end. our reserbEs c(Yststed ol.. Unrestrlcted funds Dalqnated Ed￿at1¢￿ ReseTh* Fund 335,828 £382,452 flnanclai year. Constructkn of the qlrls, Ixmrdlry In Kenya cryrtlrwe to ￿ a nwjor projert f(Y the few years. The tru5tee5 VAU cwtlnue to suppryt ef*xatkn of o￿an5 currently reglstered wlth partners In Ixjth Kenya and Tanzanla. We e5LlnMte thaL th15 (kn118atkn wni ￿ C￿ete￿ In 2032. We th) not pl￿) iv ￿￿￿MIL Lo supportkng any educatkn fees fff any ￿[thanS for the tlme belrq, VAII ccffltlrn* to eIx￿ra8e wr partner4 to seek fundlnq In thelr re5pectfve r(Kmtrle5. Havlnq Iwllt up a 8ty)d tradt rKtyd. they tn In i P051tlon to ¢)btaln local fundSnq fr(ffi Internatl¢)nal I￿NIels. At thefr 5trate8y plannlTVd In Wl, the tru5tee5 ayEed to ((xrtlnuE to take a apptuKh ts> ￿￿11￿8 ccfftmltments for tr* current flnarKlai year. due to wKertalntles of the CvAd.19 pandemk and have alimd for the provtskn of qreater Ilexlbllfty of extstlnB fwKls to W rAf partsw5 thr￿¥h thts uKertaln tlme. Untll recentlyj we h•ve Se￿ ￿ lfttie thrfdeKe of the VIn￿ affectlry comThxmltle5 In East Afrfu. Hryhtver. In Malawl ar￿ K￿a there Is ￿￿den￿ of Lth the Beta {s￿th Afrlcan) and Delta (Irmllan) varfants becOnrf￿A rrKJre •#tabllshqd. We remaln cautfrAJs ab(Mrt effects of the vlrus on Thjr fundrdtslw thts year, as we ha￿ not been able to meet many of our <￿￿or5 face-to.face or to make we5￿￿tkX￿ to s(L-letles, (IMKd￿ arKI xhwls. partnErthlp al￿ fi[￿￿lai alffllni5ltat1￿ d￿15k￿ ate lakn by thE t[￿(￿5. (RegIstW￿ Charlty 1095767) Reserv￿ are l￿d to secure 6 months runnthg and adMlntstrat1￿ costs for the UK charfty and for meetlni overseas irani.maklng related to our educatt(￿ C1￿MItM￿￿. We tsa￿ a reserve fuNI for future educatlon costs, but the balance of our funds WIU be ex[￿K￿ wlthln the next on the Constr￿ of the 8lrls' boardlry s¢*Kx)L In Kerry Rlsk Statemont Grant Grants are Made to Kyela Poltslmk Colleff. the Eyeta (treantsatl￿, K￿a (kthan Project and Tanzanla Deaf Skllls Fwndatl¢)n •li In Tan2anla and The Ilan80 T￿* ¢￿an Supwrt Tn¢t Ke￿, The Manqo rree Educatlon Trust In Kenya, The Mawo Tree &4Vrt Tnjrt and the ￿te students In Uynda In fUrthernn￿ of the Charlty's objectlves. Approved by the Board of Tnth arnl slqMd ￿ thelr behalf Iw. W D Fulton 9th December. 2ffI1 (kn8tstered Clwtty N￿rthr 1095767) aiKJ Unlled KI[ryd￿n knoun(In8 Standards (Unlted Genwaiiy kcepted kc(wJptln8 Pract1￿). The law appilcable to dwritles ffi ErylaThl and Wales requlres the tnlstees to prepare acc(xmts each flnandll year. whfch 8fve a tn￿ and falr view (rf the srate of affalrs of the charfty and of the IKorn1￿ reS￿rCeS and •ppllcatlon of reEource5 of th• dwlty tr that )w. • select 5￿table aEcountlTrd wllcle5 ar¥J tlm a￿￿lY t1￿￿ tJxThtskntiyp • make Jud8ff*nts aTrJ estlmates that are reasonalAe WKI &Ytht; • state ￿etI￿r applkable acc￿ntIng 5tandarts been foll¢N*d, Atsjert to ary materlal thpartures dlx103ed and wialned In accounts. and • prepare the flnartlai statements the 801ry concern basls ￿ ft ts In4ywf•te to that the charfty wlll contlnue In buslnes& The trustees are r¢sponslble for keeplng suffidffit accountlry records that dlEci<¥Ge wlth reasonable accuracy at any tlrne th? flnanclal pos1t1￿ of the charlty arKI enal)ie them to er6we that the flnarKlal statements ctynply wlth the Charftles Act 2011, the Charfty (kcryjnts and Repyts) ReWtkY* 2(th and the prty41kn of the tnst deed. 11 are also fftwnslble fw fj4fe8uardl￿ the a55ets of the dwlty heKe tak1￿ rea￿able 5¢eps ffK preventlon and detectlon of fraud and ott*r Irre￿Ie5. the charlty's **bslte. Legtslatlon In the Unlt•d Klnqdwn govemfrq th• ygplrntlon and dlM•mlMtlon of •crounts (Re¥￿tffed Chwlty Numkn 11195767) tntst) tl* yexr 31112r(th M1. Thls rewrt ts made s¢)ieiy to the chwws tnthes. as a boty. In wlth Sectlon 145 of the Charltles Act 2011. My examInatI￿ has been wdertaken so that I mlqht state to the thartty's tnBtees those mitters l am requlred to statr to them In an l￿dent Examlner's rep(Yc and for ￿ ottw pur￿￿. To the fulles( extenc mltted b4 law, I do not accept or assune rwF#Nthllty to other than the charlty and the charltvs trustees as a bth, f*X my eXamIr￿tkn. fty thts re￿rt, l ￿ve fornxd. ReJpun￿bIlltl¢j and buls of report As the tharlty tru5tee5 of the trust Y(￿ are r•spMslbie fLY W•paratI￿ of the accounts In accordance the requlrements of the Charltles Act 2011 ("the kt'i. I re￿rt In rèspert ol my eyamlrntlan of tho tnnt's earrlod gertkn 145 of Art and In sectlon 145(51 (b) of tt* l£L of kt. I conflrm that l am quailfkd to WKiertth the examlnatlon becawe l am a member of the Irstltute of Chartwed AtCAxmtAnts In Eryland tt Wal￿. **•th Is onp. of thp Ilstpd IK#Mos. Yaur attenuon Is drawn to the fact that the tntst has wep￿ed aCc(￿ts fn acc(yda￿e T￿th ￿C￿nti￿ and Roportln8 by Charltfes preparfry thelr acc¢xmts In accordance wfth the Flnandal Re￿I¥d Standard appllcable In the UK and RepJNlC of Ireland (FRS 102) In wefLYence ro t￿ Acc￿ll￿n8 Repomn8 ty Chant*s: Starement of Recommended Prnctlce Issued 1 WI 21VJ ththkh ts relerr8d to kn the extart requtatlom Ixrt has rKJw been wtthdra*n. l underntsnd that thls has been done In order for the accounts to wovlde a true and falr vlttv fn accordance wlth Generally Accepted Acc(￿ntI￿ Pr•ctke effettfve repo￿￿4 perkyjs beqlnnl•vd or after 1 Januw 2015. I have comoeted my examInatI(￿. I c(th matwlal mattW5 have to ffly attent1￿ th (wne£tlon wlth the examlnatkjn thlnq me ca￿• to belle￿ that fn ary materfal rttpect.. 1. accLwJntlry recorrls were not kept In respect crf the TnAt as refjthd ty sectkn 130 1rf the *£tr, cr 2. the accounts do not accord vAth those records; c 3. ￿ accounts do r￿[ comply wlth the apOlcalAe requlTernents cmrnlng the fiThi and contents of accounrs set out In the Charltle5 {AcC￿nts and Reports} Requlatth 21Th other than any requlrement that the aCcO￿ts 8fve a 't￿ and falr vlvw, 15 Mt a rnatter c(X￿1￿ as pwt of an I￿￿dent exarnlnatlcffl. I have no concerns and have come across rK• other matters In C￿nectIOn vllth the examfnatlon to Twhlth attentlL should be drawn In thls report In order to enaNe a proper of the aCcO￿ts to be reached. Peter Taaffe FCA cfA IKhA BWM Chartered Acc(xmtants Suite 5.1 TIthe￿ Street Llwwl L2 2DT 1011212021 (Re8tstrfed Charlty N￿nber 1Q15767) Current fin&￿tal year Income from: Dixiatlons Investments Total J(X•.XK) 49.( 336 306.836 355. 336 355.836 545.392 547.010 Ralslng funds Charftable actmtles Total 33,222 33.222 33.195 252,595 113.oc 435.595 738.665 N•t mov•m•rt In 759 191 655 R•concllIatl￿ of fundk. Totsl funds forward Total lunth carrled frnrd 381452 417 452 497 211 Prfor flrwKlal >Yar mf Incom• fronk. DN*tl¢>ns Investments Total 425.M 120.(W 545.3WI 427.010 120.WI 547.010 Ratsln8 furKts 33,195 33.195 Total 567.665 171.c¥y) n8.1)65 Net m(rdement In fun 191 655 Rec0nclllatl￿ of fundK" Total funds foryfdrd Totsl funds curled forward 468866 I20Q￿ 688866 169 IYJO 497 211 All galns and 1055es rec(W￿￿ in the yw are IIKiIKlea &v•T. OALAIICE SHEEf AS AT 31 IAARCH 2021 255.307 255,307 Cash at bank and lft hand 418,891 498,651 LIABILMES Credltor: falllng vthn year (1.44)1 TOTAL MEf ASSE15 417 451 497 211 THE FUNDS OF THE CHARnY Gon•ral fun 10 10 10 335.828 35,1 281,587 169,Ixii Restrlcted fund Deslqned Educat1(￿ Fund rAL CHARrrY FUNDS 417 452 497 211 The accounts were apprtr￿d aml lArtl¥jr￿ for the Doard of TnL5tees and slBned OTr its behalf on 9th December, 2021. W.D.Fulton Trust•• 11 (Ikqlknd Clwlty 1ry)5767) srATEhlENT OF CASM FLOWS FOR ThE ITAR ENDED 31 IIARCN LZ1 2021 422 186 261 Inv•5tlry actlYltl•s Interest recelyed Net cash In (2019 gaxratlwl fran lThTstl d¢tlWtles 336 179.0161 (1•4,643) Change In cash In th• r•portlng perf¢7d Cash at th• b•olnnlnA of th• r•pe*dTho p•rlod 498.6SI 690.306 191 655 498 651 418 891 Statrnt of Fh￿nclal Actlvlrf Afljujtments for: Investment Income recofvd fn the Statement of Flnand41 Actfvltle5 (79.7￿1 1191,655 336 1.618 3,776 N•t cash us•d In (provldqd by) ap•rntkng a¢tlvlt 422 186 261 12 (Reg￿t￿ed Charlty Nunt*r 10957671 NOTES TO THEAcCOUt￿s Foft Tlff YEAR EIILYD JI MARCH 2021 ACCOUNTING POLICIES The acc(Nmts have been Jxyared wlth tt* dwltvs tnst deed. Charitle5 Act 2011 and "Acccxmtfry and Rep(rtlng by Charft*s: Ststement of Recom￿ Practlo appilcabie to charftles preparlng thelr accounts In accord￿ wlth the Flnanclal Rep￿￿Tha Standard appilcabie In tre UK and Republlc of Ireland (FPS Iini (as arn•nd￿ for acc¢xmtlnB perlods coTryn￿nl frryn 1 J)ftu￿ 2016). The tn&st ts a P￿lIC Benefit Entity a5 denned by fR5 102. The accounts haye departed frnrn the Charltles (Acctyjnts and Repryts) Re8ulatlons 2008 only to the extent requlred to wovfde a twe and talr vlew. Thts ￿e￿rture haSIn￿1Ve0 lolitr•vlnB the Statement of Recommended Prnctfce fly charltks appiyln8 FRS 11n rnther than the verskn of the Statement of The account3 C4re ryared In stert1￿• whkh ts of the charfty. #onetary aff￿lts In The accounts have been Drepared htsUMI CIM cuM￿tIllI. The Prtnthpal accountlnq Wllcles adopt•d are set wt bel￿. the Impact of Covkl.19 on the charlty and the trustees halt a rea%)n￿e expectstk)n that the charlty has •dequate res￿rte$ to C¢￿tInUe In operntl¢)nal exISten￿ fty the foreseeable future. TIw5 the trustees contfnue to adopt the c(￿¥n, basts of accra￿tIn8 In preparfw the accounts. All Income ts accounted for a recel¥able basls when • the charlty beccffiu entftled to the reswrcu; • It Is pr¢bubl¢ that the In¢ome wlll be r¢¢¢lbté: • the monetary value can ￿ fflea￿d wlth ￿InC*￿ re1th￿l￿. condl(knM ￿ be mel rEiall￿ Lo gra￿ TNhkh refflaln of the tharlLy. Other c05ts fnculred relate to tyjr part.tlrne fuKlfalser5 and the c(sts of Stst1￿ and trn￿l for those fundratsers, wfth the cost of tr* examlnatkn. T?￿ d￿rfty malrrtalns a USD deno¥n1nated bank accounL TransactlLTh made fnxn th15 bank account. Includlnq qrnnts, are trar6iated Into GBP at awage USDIGBP fth*i exchange rates ftx the financial year. nanclai ￿.end, the USD denixthted cash balaKe ts traAstated (to GBP) at the yearorKI foreign exchan8e rate. Any resultant Pln or ioss In dlsdosed In Statemert (rf FlnAndal Artmtles as an exchange gaIn/0￿$) wlthlft IMime. h. Taxatl¢>n The charlty beneflts fnjm wark￿5 exernptth frfxn taxat1￿ affith by tax legtsiatlm and Is not Ilable to cwkirntion tax on Tncorn or qains falling within tIKse eXentyM￿S. Recovery is made of tax ded￿ted from quallfylng Income and from receipts under Glft Ald. The dwlty Is not abi• to r•cov•r Valu• Add￿ Ta Expendlture Is recorded In accounts trKiuth of VAr. 13 (Regkned Clwlty 109576n l. Funds Funds hdd by the charfty are: Unrestrlcted qewal f￿K1$ . these are l￿d$, vthfth can be u*d In accorkn wlth the charftabie objects at the dtscretkn of the tntstees. R@Strftt￿ funds . these are that r3n only bo used for partlcuiar reStr[rt￿ vAthln the objects of the thhrfty. arke kn speclfled by the donor or vthen funds are ralsed partlcular re5tr1cted purpose5. Further e¥41anatk￿ of the natsJre and purFKxe of each fund ts Indth in the rK)tes to the acc(xmts. the flnancfal statemen J. Cash and cash equlval•ntJ Cath and ush qqufvaL•nts Indud• ¢•th In hand, d•ptylts h•id •t all wlth b*Nks, *Xh•r thort.t•rm Ilquld Fln*Klal Instrum•nts The charlty has elected to apply the wovlslons of Sectlon 11 'Baslc Flnanclal Instnmthts. 141d 5e¢tlon 12 '0ther Hnandal Instnjnents Is8￿. of FRS 102 to all of Its flnw)dal Instnjmnt Flnandal Instnjments are recoRnlzed In the (I￿r￿S balaKe sheet when the charfty bec(rn party to Flnanclai auets and Ilabllltles are offx wlth the net MKxmts wesented In the flnandal statements, wI￿n there Is a le8ally enforceobie rllht to Jet off the reco￿tr￿ amounts ond there ts on Intentlon to settle on a net basts or to realtse the asset ana settle tt* Ilablllty sIW￿ltalle￿Iy. fln•ndal asmts Basfc flnandal assets. vAth Ind￿ dobtors and cash and bank btsiantes, arè Inltlally measured at effertlvr Interest method unless the arrawert cL￿tItUteS a flnanclni trnnsactkn, V*l￿e the transactlon ts measure(l at the present value of the future recelpts d15counted at a mirket rnte of Interert. Dask flnanclal fn5trum•nts Bask flnarKfal Ilabllltfes. Indudlry credltors ioAns are Inltlaliy reCo￿d at trnnsath unless the arran8efftht constltutes a flnandNJ transath, wl*re the debt Instrument Is measured at the present day value of the fuwre re￿pts d15c(xmred at a rnte of Interest. Flnaiiclal Ilatsllltles classlfled as payable wlthln ￿e year are Trade credltLY5 are obllqatkns to pay far 8Lxx15 w serv1￿5 that have been acqulred In the ordlnary course of opernttons from swllern. knthints payable are dasslfled as current Ilabllftles If payment Is due wlthln one year or less. If nor, are presented as ￿ 9. CREDrroR 10. FUNDS Current tliianclal syar Total AJ at 1 Aprll 2020 Income Expendlture 281,587 306,836 1252,836) 46,624 169,CiKI 497,211 49,L JJJ,636 {183,CO)) 1435.595 At Jl March 2021 35 Ofrfl 417 452 lor flnandal As at 1 Aprll 2019 Income Expendltur• 281.587 .012 (567,66T) 46.624 169.(XK) 497,Z11 120.1110 547.012 (171,fm) 1738,667 At 31 2020 497 211 Unrertrfcted funds *r• fund5, th• ¢h•rlty ¢w fn %¢0rd￿ wlth Its ¢hwltth *)bJ•cUv•s. Noel Buxton CharStsble TTU5t The S(xrter Charltable Tnst Th• Roz•il• Trurt Allan & Nesta FerguJ￿ Ch. Trwt The Chanes Mayward Fojidati 5.¢lXI. ttr•Mrds the afy*cullfft wjert In Kfflrya 5,(KXI . t¢Manls the If￿. res￿ centre In Kerya 20.fKKI. tryrtard3 tr nc•Y Glr15 for the ruts￿e pro8rarn￿ In Kwa 15,(iXI. the iyoiett fn hialawi 11. TRusfEE EXPENDrniRE 17 12. ANALYSIS OF Nrr ASSEfs BEfwEEN FUPalS Current flnBnclol year FurKI balan￿5 at 31 Ilarch zirL1 are rewe5ffited ty. funds T+)tal Current assetsllllabllltles) 35 c(11 417 452 pnor financial year Fund baiaKeJ at 31 March 2020 are reWe￿ by. fundj Current 4)xtsl{IlabllltleJ) 169 1110 497 211 18