Charity Registration No. 1098865
THE VANESSA GRANT TRUST (UK)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE VANESSA GRANT TRUST (UK)
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Anna Thrupp |
|---|---|
| Lucinda Bolton Carter | |
| Sarah Darling | |
| Karen Robertson- Macleod | |
| Lauren Sundercombe | |
| Charity number | 1098865 |
| Principal address | 208 Cooden Drive |
| Bexhill on Sea | |
| East Sussex | |
| TN39 3AH | |
| Independent examiner | Colin Dadswell FCA ACCA DChA |
| Caladine Limited | |
| Chantry House | |
| 22 Upperton Road | |
| Eastbourne | |
| East Sussex | |
| BN21 1BF |
THE VANESSA GRANT TRUST (UK)
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 - 12 |
THE VANESSA GRANT TRUST (UK)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's Trust Deed, the Charities Act 2011 and "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) (effective 1 January 2019)".
Objectives and activities
The Vanessa Grant Trust UK (VGT) was established in the UK in 2003, initially to raise funds for the Vanessa Grant School for Children with Special Needs (VGS) in Rongai, Kenya. Since then, it has broadened its remit to support other education projects in this predominantly rural area of Kenya's Rift Valley, particularly the Vanessa Grant Girls' School (VGGS).
The Vanessa Grant Trust (UK) works in collaboration with local partner charities in Kenya to broaden the educational opportunities for the growing number of children in the areas. The projects are also supported by independent partner charities in the USA and Australia.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
Achievements and performance
Report from the Manager of our local partner charities in Kenya:
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2021 and Covid
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Schools reopened in January 2021 and the two lost terms are being crammed into 2021 and 2022 which will each have four shorter terms. It is very stressful for teachers and students alike. Not surprisingly there have been many cases of students rioting and burning schools and facilities. So far no problems in any of the schools that the VGT supports.
� Sponsorship
Parents have struggled to pay fees and numbers within the fee-paying schools have dropped, but not disastrously.
- Vanessa Grant School for Children with Special Needs
The school is fully operational and full. An Occupational Therapist has been appointed and is making a very positive impact. Her salary is being paid for by another trust that also gives some support to the Vocational School.
- Flames of Hope
Lots of progress here since the school reopened. It now has a class for older girls who are resident and whose oral skills are being developed. There is also a class of pre-primary children from the immediate neighbourhood to help supplement income. Thanks to the Dulverton Trust a new kitchen and dining area are being completed and equipped. Thanks to volunteers the irrigation and water storage facilities have been improved. The well now needs to be deepened.
� Vocational School
Again, thanks to the volunteers, water storage and washing facilities have been upgraded and the school is functioning efficie
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THE VANESSA GRANT TRUST (UK)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
� St Michael’s
Thanks to volunteers the playground now has a shelter for hot or rainy days as well as additional playground equipment. The washrooms have also been upgraded.
� Gogar Primary School
The new hall has some excellent murals thanks to the talents of volunteers. It has also shade net sides to reduce the impact of the weather. Sister Hiltrude has now retired and Mr Stanley Ngetich has taken over the reins.
� Vanessa Grant Girls’ School
The school is back to its full operations. The exam results in 2021 were below expectation. The administration has reviewed the various systems and instigated initiatives to improve these. Internet cabling has been extended to give better network to all areas.
- Volunteers
The Molo River House has been busy and has been able to replenish bedding and develop the garden area. There have been more volunteers through than ever before and the paying guests from local businesses have brought in regular income.
Financial review
The total income for the year was £242,738, of which £227,370 was restricted. The total expenditure for the year was £213,095, of which £193,720 was restricted.
It is the policy of the Trustees to maintain a level of reserves in order to meet the administrative costs of operating the charity. Funds are also retained so that the charity can respond to needs as they arise. It also provides time to find new sources of income if regular funding reduces.
Risk management
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future periods
The Trustees consider the charity to be a going concern, operating for the public benefit for children in Kenya, including those with special needs.
Requests for grants are received from partner charities in Kenya and considered by all the trustees.
Given the completion of many of the school building projects, the trustees endeavour to steward a reasonable cushion of funds to ensure these projects continue to be properly managed on the ground and so that they may meet any unexpected needs arising in the schools it supports.
Structure, governance and management
The trustees of The Vanessa Grant Trust are appointed with the Trust deeds by resolution of the existing trustees. Under the deeds, there are required to be at least three trustees.
The trustees have all visited Kenya and will continue to do so in order to make first-hand assessments of the projects supported by VGT. None of the trustees receive any fees or benefits from the Trust.
The trustees who served during the year and up to the date of signature of the financial statements were:
Anna Thrupp Lucinda Bolton Carter Sarah Darling Karen Robertson- Macleod Lauren Sundercombe
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THE VANESSA GRANT TRUST (UK)
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.
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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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable 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 in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' report was approved by the Board of Trustees.
.............................. Lucinda Bolton Carter Trustee
Date: .............................................
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THE VANESSA GRANT TRUST (UK)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE VANESSA GRANT TRUST (UK)
I report to the trustees on my examination of the financial statements of The Vanessa Grant Trust (UK) (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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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1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Colin Dadswell FCA ACCA DChA
Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF
Dated: .........................
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THE VANESSA GRANT TRUST (UK)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted | Restricted | Restricted | Total | Unrestricted | Restricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | ||||||
| Notes | £ | £ | £ | £ | £ | £ | |||||
| Income from: | |||||||||||
| Donations and legacies | 3 | 15,368 | 227,370 | 242,738 | 9,944 | 312,274 | 322,218 | ||||
| Expenditure on: | |||||||||||
| Charitable activities | 4 | 15,359 | 197,736 | 213,095 | 15,207 | 291,961 | 307,168 | ||||
| Net incoming resources | |||||||||||
| before transfers | 9 | 29,634 | 29,643 | (5,263) | 20,313 | 15,050 | |||||
| Gross transfers | |||||||||||
| between funds | 8 | (9,471) | 9,471 | - | - | - | - | ||||
| Net (expenditure)/income | |||||||||||
| for the year/ | |||||||||||
| Net movement in | funds | (9,462) | 39,105 | 29,643 | (5,263) | 20,313 | 15,050 | ||||
| Fund balances | at 1 January | ||||||||||
| 2021 | 60,142 | 126,019 | 186,161 | 65,406 | 105,705 | 171,111 | |||||
| Fund balances at 31 | |||||||||||
| December 2021 | 50,680 | 165,124 | 215,804 | 60,143 | 126,018 | 186,161 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE VANESSA GRANT TRUST (UK)
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 217,544 | 187,841 | |||
| Current liabilities | 7 | (1,740) | (1,680) | ||
| Net current assets | 215,804 | 186,161 | |||
| Income funds | |||||
| Restricted funds | 8 | 165,124 | 126,018 | ||
| Unrestricted funds | 50,680 | 60,143 | |||
| 215,804 | 186,161 |
The financial statements were approved by the Trustees on .........................
.............................. Lucinda Bolton Carter Trustee
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
The Vanessa Grant Trust (UK) is a charity with the principal address of 208 Cooden Drive, Bexhill-On-Sea, East Sussex, TN39 3AH. The main aim of the charity is to advance and further the education of people, especially children and young people, including those with special needs in primary, secondary school and above. The charity primarily operates in the Rongai region on Kenya, but is not exclusive to this area. They strive to meet these objectives through the provision of funds for the construction of school buildings and facilities, awarding grants, allowances, bursaries and scholarships.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Trust's Trust Deed, the Charities Act 2011 and "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) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Some funds are donated to the charity specifically to be used to support particular projects. Such funds are referred to as restricted funds.
1.4 Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. The following specific policies are applied to particular categories of income:
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Voluntary income received by way of grants is included when received. Donations are included when received with any related tax recovered under Gift Aid also recognised when received.
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Donated services, facilities and equipment are included at the value of the charity where this can be quantified and is significant. The value of services provided by volunteers is not included in these financial statements.
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies (Continued)
1.5 Expenditure
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
3 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 14,139 | 227,370 | 241,509 | 6,360 | 312,274 | 318,634 |
| Gift aid recovered | 1,229 | - | 1,229 | 3,584 | - | 3,584 |
| 15,368 | 227,370 | 242,738 | 9,944 | 312,274 | 322,218 |
4 Grants payable
| 2021 | 2020 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||||||
| Grants to institutions: | ||||||||||||
| Vanessa Grant School | 4,241 | 1,091 | ||||||||||
| Vanessa Grant Girls' School | 137,285 | 229,971 | ||||||||||
| Other projects | 56,210 | 60,899 | ||||||||||
| 197,736 | 291,961 | |||||||||||
| Support costs | ||||||||||||
| Support | Governance |
Total | Support | Governance |
Total | |||||||
| costs | costs | 2021 | costs | costs | 2020 | |||||||
| £ | £ | £ | £ | £ | £ | |||||||
| Treasure's fees and | ||||||||||||
| expenses | 13,200 | - | 13,200 | 13,200 | - | 13,200 | ||||||
| Accountancy | - | 1,740 | 1,740 | - | 1,680 | 1,680 | ||||||
| Bank fees | - | 311 | 311 | - | 327 | 327 | ||||||
| Sundry UK expenses | - | 108 | 108 | - | - | - | ||||||
| 13,200 | 2,159 | 15,359 | 13,200 | 2,007 | 15,207 | |||||||
| Analysed between | ||||||||||||
| Charitable activities | 13,200 | 2,159 | 15,359 | 13,200 | 2,007 | 15,207 |
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5 Support costs
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year. Apart from donations made by Trustees to the Charity, no Trustee had any personal interest in any contract or transaction entered into by the Charity and during the year (Or the preceding year).
The Vanessa Grant Trust has no staff and is administered entirely voluntarily by the Trustees.
No Trustees had expenses reimbursed during the year (2020: £0).
7 Current liabilities
| Current liabilities | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 1,740 | 1,680 |
8 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at | Incoming | Resources |
Transfers | Balance at | |
| 1 January 2021 | resources | expended | 31 December | ||
| 2021 | |||||
| £ | £ | £ | £ | £ | |
| School Development Projects | |||||
| Vanessa Grant Girls School | 55,570 | 55,800 | (75,370) | - | 36,000 |
| Vanessa Grant School | 450 | 5,220 | (720) | - | 4,950 |
| Flames of Hope | - | 28,059 | (17,859) | - | 10,200 |
| Gogar Primary School | 842 | 412 | (1,125) | - | 129 |
| St Michael's Nursery School | - | 13 | - | - | 13 |
| VGT Accomodation Block | 2,160 | 7,740 | (6,120) | - | 3,780 |
| Trustee sponsored projects | - | - | (4,016) | 4,016 | - |
| Pupil Sponsorships | |||||
| Vanessa Grant Girls school | 29,793 | 103,228 | (61,915) | - | 71,106 |
| Vanessa Grant School | 385 | 1,076 | (3,521) | 2,060 | - |
| Vocational RVTC | - | 90 | (1,800) | 1,710 | - |
| Other sponsor a Child | - | 2,070 | (1,761) | 382 | 691 |
| Sponsor and child in another School | - | 1,224 | (297) | - | 927 |
| Flames of Hope | - | - | (1,303) | 1,303 | - |
| Funds Raised by Nutty | - | 734 | (509) | - | 225 |
| Management of project | 36,819 | 21,704 | (21,420) | - | 37,103 |
| 126,019 | 227,370 | (197,736) | 9,471 | 165,124 |
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
8 Restricted funds (Continued)
Movements for the year ended 31 December 2020
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at | Incoming | Resources |
Transfers | Balance at | |
| 1 January 2020 | resources | expended | 31 December | ||
| 2020 | |||||
| £ | £ | £ | £ | £ | |
| School Development Projects | |||||
| Vanessa Grant Girls School | - | 195,685 | (140,115) | - | 55,570 |
| Vanessa Grant School | - | 674 | (224) | - | 450 |
| Flames of Hope | 170 | - | (170) | - | - |
| Gogar Primary School | - | 32,222 | (31,380) | - | 842 |
| St Michael's Nursery School | 5,323 | - | (5,323) | - | - |
| VGT Accomodation Block | 2,152 | 2,160 | (2,152) | - | 2,160 |
| Pupil Sponsorships | |||||
| Vanessa Grant Girls school | 59,250 | 60,398 | (89,856) | - | 29,793 |
| Vanessa Grant School | - | 1,252 | (867) | - | 385 |
| Vocational RVTC | - | 90 | (90) | - | - |
| Other sponsor a Child | 272 | 90 | (362) | - | - |
| Flames of Hope | - | - | - | - | - |
| Management of project | 38,538 | 19,703 | (21,422) | - | 36,819 |
| 105,705 | 312,274 | (291,961) | - | 126,019 |
School Development Projects
The funds are given for, and used to undertake practical improvements to school facilities. A summary of the work undertaken in the year can be found in the Trustees report.
Pupil Sponsorships
These funds are given and used to defray the cost of educating pupils who are part of the sponsorship programme.
Management of Project
The charity is run by a manager on the ground in Kenya and monies given to fund his salary are accounted for as a restricted fund.
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THE VANESSA GRANT TRUST (UK)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
9 Analysis of net assets between funds
| Unrestricted | Unrestricted | Restricted |
Total |
Unrestricted | Restricted |
Total |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Fund balances are represented by: | ||||||
| Current assets/ | ||||||
| (liabilities) | 50,680 | 165,124 | 215,804 | 60,143 | 126,018 | 186,161 |
| 50,680 | 165,124 | 215,804 | 60,143 | 126,018 | 186,161 |
- 10 Related party transactions
There were no disclosable related party transactions during the year (2020 - none).
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