| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
|||
| Report ofthe Trustees | 2 | to | 4 |
| Report ofthe Independent Auditors |
5 | to | 8 |
| Statement ofFinancial Activities | |||
| Balance Sheet | |||
| Cash Flow Statement | |||
| Notes to the Cash Flow Statement | 12 | ||
| Notes to the Financial Statements | 13 | to | 20 |
| TRUSTEES | G Lubner CEO | |||
|---|---|---|---|---|
| EBeinart Chief Execunve | ||||
| LBergman Management | Consultant | |||
| K De Gier-Formanek | CEO | |||
| JA Julyan Barrister | ||||
| N Olsha Solicitor | ||||
| H W Sinclair Business | Development | |||
| COMPANY SECRETARY | Stonehage Fleming |
Services Limited | ||
| REGISTERED OFFICE | 15 Suffolk Street | |||
| London | ||||
| SW IY4HG | ||||
| REGISTERED COMPANY | 04769362 (England | and Wales) | ||
| NUMBER | ||||
| REGISTERED CHARITY | 1101556 | |||
| NUMBER | ||||
| AUDITORS | Grant Harrod Lerman | Davis LLP | ||
| Chartered Accountants |
||||
| Statutory Auditors |
||||
| 1st Floor | ||||
| Healthaid House |
||||
| Marlborough Hill |
||||
| Harrow | ||||
| Middlesex | ||||
| HA1 1UD | ||||
| LEGAL ADVISORS | Maitland &Co | |||
| 5th Floor | ||||
| 44-48 Dover Street | ||||
| London | ||||
| Wls 4NX | ||||
| BANKERS | Barclays Bank | |||
| 68 Evington Rd | ||||
| Leicester | ||||
| LE2 1HJ |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | funds | funds | funds | ||||
| Notes | f | f | |||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 2 | 1,289,388 | 1,258,277 | 2,547,665 | 2,886,930 | |
| Investment | income | 3 | 33,974 | 33,974 | 260 | ||
| Total | 1,323,362 | 1,258,277 | 2,581,639 | 2,887,190 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Charitable | expenditure | 1,387,366 | 1,258,277 | 2,645,643 | 1,660,962 | ||
| Raising funds | 113,504 | 113,504 | 84,647 | ||||
| Total | 1,500,870 | 1,258,277 | 2,759,147 | 1,745,609 | |||
| NET INCOME/(EXPENDITURE) | (177,508) | (177,508) | 1,141,581 | ||||
| RECONCILIATION | OFFUNDS | ||||||
| Total funds | brought forward |
1,461,397 | 1,461,397 | 319,816 | |||
| TOTAL FUNDS CARRIED FORWARD | 1,283,889 | 1,283,889 | 1,461,397 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | f | f. | |||
| CURRENT ASSETS | |||||
| Debtors | 7 | 1,162,205 | 1,162,205 | 513,283 | |
| Cash at bank | 128,36] | 128,361 | 952,914 | ||
| 1,290,566 | 1,290,566 | 1,466,197 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
8 | (6,677) | (6,677) | (4,800) | |
| NET CURRENT ASSETS | 1,283,889 | 1,283,889 | 1,461,397 | ||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABII ITIES | 1,2$3,889 | 1.283.$89 | 1,461,397 | ||
| NET ASSETS | 1,2$3,$89 | 1,283,889 | 1,461,397 | ||
| FUNDS | |||||
| Unrestricted funds |
1,283,889 | 1,461,397 | |||
| TOTALFUNDS | 1,283,889 | 1,461,397 |
| f | or the year ended 3 | 1December 2022 | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Notes | f | |||||
| Cash llows from operating | activities | |||||
| Cash generated from operations |
I | (858,527) | 681,431 | |||
| Net cash (used in)/provided | by | operating | activities | (858,527) | 681,431 | |
| Cash flows from investing | activities | |||||
| Interest received | 33,974 | 260 | ||||
| Net cash provided by investing |
activities | 33,974 | 260 | |||
| Change in cash and cash equivalents | in | |||||
| the reporting period | (824,553) | 681,691 | ||||
| Cash and cash equivalents | at | the | ||||
| beginning ofthe reporting |
period | 952,914 | 271,223 | |||
| Cash and cash equivalents | at | the end | of | |||
| the reporting period |
128,361 | 952,914 |
| OPERATING ACTIVITI | ES | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Net (expenditure)/income | for the reporting | period (as per the | ||
| Statement ofFinancial Activities) | (177,508) | 1,141,581 | ||
| Adjustments for: |
||||
| Interest received | (33,974) | (260) | ||
| Increase in debtors | (648,922) | (459,890) | ||
| Increase in creditors | 1,$77 | |||
| Net cash (used in)/provided | by operations | (858,527) | 681,431 |
| ANALYSIS OF CHANGES IN NET | FUNDS | ||
|---|---|---|---|
| At 1.1.22 | Cash flow | At 31.12.22 | |
| Net cash | |||
| Cash at bank | 952,914 | (824,553) | 128,361 |
| 952,914 | (824,553) | 128,361 | |
| Total | 952,914 | ($24,553) | 128,361 |
| 2. | DONATIONS | AND LEGACIES | AND LEGACIES | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Donations | 2,547,665 | 2,886,930 | |||
| 3. | INVESTMENT | INCOME | |||
| 2022 | 2021 | ||||
| Deposit account | interest | 33,974 | 260 | ||
| 4. | CHARITABLE | ACTIVITIES COSTS | |||
| Direct | |||||
| Costs | |||||
| Charitable expenditure |
2,645,643 | ||||
| Raising funds |
113,504 | ||||
| 2,759,147 |
| There were no trustees' expenses paid for the year ended 31 December 20 31 December 2021. |
There were no trustees' expenses paid for the year ended 31 December 20 31 December 2021. |
There were no trustees' expenses paid for the year ended 31 December 20 31 December 2021. |
22 nor for th |
e year ende |
|---|---|---|---|---|
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | ||
| fund | funds | funds | ||
| f | f | f | ||
| INCOME | AND ENDOWMENTS FROM | |||
| Donations | and legacies | 1,384,977 | 1,501,953 | 2,886,930 |
| Investment | income | 260 | 260 | |
| Total | 1,385,237 | 1,501,953 | 2,$87,190 | |
| EXPENDITURE ON | ||||
| Charitable | activities | |||
| Charitable | expenditure | 845,594 | 815,368 | 1,660,962 |
| Raising funds | 84,647 | 84,647 | ||
| Total | 930,241 | 815,368 | 1,745,609 | |
| NET INCOME | 454,996 | 686,585 | 1,141,581 | |
| Transfers | between funds | 686,585 | (6$6,585) | |
| Net movement in funds |
1,141,581 | 1,141,581 |
| for the year ended 31December | 2022 | 2022 | ||||
|---|---|---|---|---|---|---|
| COMPARATIVES | FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | - continued | |||
| Unrestricted | Restricted | Total | ||||
| fund | funds | funds | ||||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward |
319,816 | 319,816 | ||||
| TOTAL FUNDS CARRIED FORWARD | 1,461,397 | 1,461,397 | ||||
| 7. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| f | ||||||
| Other debtors | 778,770 | |||||
| Prepayments and accrued income |
383,435 | 513,283 | ||||
| 1,162,205 | 513,283 | |||||
| g. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | |||||
| Social security and other taxes | 536 | |||||
| Other creditors | 321 | |||||
| Accrued expenses | 5,820 | 4,800 | ||||
| 6,677 | 4,800 | |||||
| 9. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At | 1.1.22 | in funds | 31.12.22 | |||
| f | ||||||
| Uarestricted funds |
||||||
| General fund |
1,461,397 | (177,508) | 1,283,889 | |||
| TOTAL FUNDS | 1,461,397 | (177,508) | 1,283,889 |
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources f, |
expended f |
in funds f |
||||
| Unrestricted funds |
||||||
| General fund |
1,323,362 | (1,500,870) | (177,50$) | |||
| Restricted funds |
||||||
| Agripreneurship | 1,689 | (1,689) | ||||
| Core - ECD/CYD/YAP/Nutrition/360 | ||||||
| Social Services | 42,489 | (42,489) | ||||
| Technology Transforms |
Lives | 180,907 | (180,907) | |||
| Sustainable Solutions |
498,499 | (498,499) | ||||
| Belron | 35,217 | (35,217) | ||||
| Salesforce Training & | Licenses | 21,940 | (21,940) | |||
| The Duke ofEdinburgh | International | |||||
| Award Initiative | 52,040 | (52,040) | ||||
| KZN Relief Fund | 2,500 | (2,500) | ||||
| Virtual SOBCMerchandise | 4,441 | (4,441) | ||||
| Grow ForLife | 418,555 | (418,555) | ||||
| 1,258,277 | (1,258,277) | |||||
| TOTAL FUNDS | 2,581,639 | (2,759,147) | (177,508) | |||
| Comparatives for movement |
in funds | |||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.21 | in funds | fundsf | 31.12.21 | |||
| Unrestricted funds |
||||||
| General fund |
319,816 | 454,996 | 686,585 | 1,461,397 | ||
| Restricted funds | ||||||
| Agripreneurship | 90,495 | (90,495) | ||||
| Core - ECD/CYD/YAP/Nutrition/360 | ||||||
| Social Services | 663,561 | (663,561) | ||||
| Technology Transforms |
Lives | (25,412) | 25,412 | |||
| Sustainable Solutions |
(50,244) | 50,244 | ||||
| Boreholes | 5,800 | (5,$00) | ||||
| Food Relief | 2,385 | (2,385) | ||||
| 686,585 | (686,585) | |||||
| TOTAL FUNDS | 319,816 | 1,141,581 | 1,461,397 |
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources | expended | in funds | ||||
| Unrestricted funds |
||||||
| General fund |
1,385,237 | (930,241) | 454,996 | |||
| Restricted funds | ||||||
| Agripreneurship | 91,714 | (1,219) | 90,495 | |||
| Digital Commons | and Learning | Libraries | 58,670 | (58,670) | ||
| Core - ECD/CYD/YAP/Nutrition/360 | ||||||
| Social Services | 836,239 | (172,678) | 663,561 | |||
| Technology Transforms |
Lives | 7,065 | (32,477) | (25,412) | ||
| Sustainable Solutions |
500,000 | (550,244) | (50,244) | |||
| Boreholes | 5,800 | 5,800 | ||||
| Food Relief | 2,465 | ($0) | 2.385 | |||
| 1,501,953 | ($15,368) | 6$6,585 | ||||
| TOTAL FUNDS | 2,887,190 | (1,745,609) | 1,141,581 | |||
| Restricted funds:- |