**Charity number: 1105276** ## **VANA TRUST** **Report of the Trustees and Unaudited Financial Statements** **For the year ended 31 March 2024** **VANA TRUST Contents Page For the year ended 31 March 2024** |Report of the Trustees|1 to 6| |---|---| |Independent Examiner's Report to the Trustees|7| |Statement of Financial Activities|8| |Statement of Financial Position|9| |Notes to the Financial Statements|10 to 15| |Detailed Statement of Financial Activities|16| ## **VANA TRUST Report of the Trustees For the year ended 31 March 2024** The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** Vana Trust's objectives are: The relief of poverty, sickness and distress, the advancement of education and the preservation and protection of the good health of children and young people in the UK and Southern Africa, in particular those living in Zambia, Zimbabwe, South Africa, Botswana, Namibia, Sudan, Tanzania and Kenya. The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. 1 of 16 ## **VANA TRUST Report of the Trustees Continued For the year ended 31 March 2024** ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** Vana Trust comprises an organic farm in England and a sister charity in Zimbabwe. Working for the welfare of children and young adults links these two charitable ventures thousands of miles apart. They share the Trust's motto: Enriching Lives with Education. The Trust continues to fund and assist disadvantaged children and young adults both in Southern Africa and the UK. Vana Trust programme in the UK and plans for 2024/25 As part of our diversification programme, we held our first Christmas Fair complete with Father Christmas and his elves, selling harvested produce and herbs. We also held the annual wreath making workshop which is hugely popular with our trainees. The money we raised from our fundraising activities has helped us purchase 4 new pygmy goats who have been a great favourite with the trainees. We have also been able to purchase some much-needed timber for fixing the existing field shelters and more fencing to keep the pygmy goats from escaping. We have seen an increase in school children and young people attending the farm due to mental health problems, suffering anxiety and difficulties at schools and colleges. Our plan going forward is to create a young person's group for those who are currently unable to attend school, to develop their social skills and reduce feelings of anxiety thereby empowering young people to return to education. After carrying out evaluations and gaining feedback from our trainees, our plans for the coming year are to purchase more livestock and to have a wider range of animals such as alpacas and quails. Our trainee numbers have declined from 32 to 24. Part of this was due to trainees succeeding in getting back to school and college. Another factor is the small rise in requests for a donation which some families cannot bear. A testimonial on how the farm helped with one of the trainee's mental health challenges: "When I first started at the farm, I was shy and reserved. I suffered with anxiety and didn't feel comfortable in a new environment or around new people. It was a difficult time as we were in the midst of the COVID pandemic and I was feeling very isolated and vulnerable. Over the coming months during regular attendance, I learnt many new skills and engaged confidently with staff, volunteers and trainees. Towards the end of my involvement at the farm I was able to lead and supervise small groups. The Farm Project Manager said I was a real asset to Vana Trust Organic Farm and I am proud of the progress I made and in gaining full time employment as an as an Assistant Gardener in a renowned kitchen garden at a successful hotel and restaurant." We are in the second year of a three year grant period from the Rothschild Community Foundation. Their support is invaluable towards staffing costs. We intend to purchase more animals to supplement the ageing existing livestock, apply for a grant for a permeable pathway through the land to improve access to all our facilities and be part of the Great Big Nature Survey. Vana Trust programme in Zimbabwe and plans for 2024/25 Vana Trust's current cohort of students in Zimbabwe is divided as follows: University Students: 24 Secondary School Students: 24 Primary School Students: 31 Total of 79 Students 2 of 16 ## **VANA TRUST Report of the Trustees Continued For the year ended 31 March 2024** The students supported by Vana Trust range in age, reflecting the diverse educational needs of the community. The educational levels span from primary education (grades 1 through 7), secondary education (form 1 through 6), and tertiary education (university degree programs). ## Student Needs and Backgrounds The needs of the students vary based on their individual circumstances and backgrounds. Many students come from financially disadvantaged households that struggle to meet even basic educational costs. Vana Trust's support not only alleviates the financial burden on these families but also empowers the students to focus on their studies and personal growth. Primary Students: Needs typically include school fees, uniforms textbooks, and basic stationery. Support in these areas is crucial for maintaining their attendance and participation in school activities. Secondary School Students: In addition to the needs listed for primary students, high school students require more advanced stationery and often, IT hardware to support their education in a technology-driven world. University Students: These students have more complex needs, including tuition fees, accommodation, and specialized equipment or materials pertinent to their fields of study. Supporting university students is vital for their professional development and future employment opportunities. ## Aim of the Plans To put into place plans in line with the organisation's vision and give guidance on how to achieve this. These plans, set to ensure our set goals and our vision is achieved, include: ·Fees and other financial commitments are promptly scheduled, and funds deposited into the educational institutions' accounts ·Increasing source of funding base ·Setting up student part-time work ·Developing plans for Chibwanda Farm School, Chihota ·Ongoing audits of students' parent/family circumstances ·Source materials for Science Laboratory at St David's in Chihota ·Vana Trust Zimbabwe Project coordinator to attend a counselling course ·Encourage community involvement ## Projects 1.Support of existing students from primary through to university level 2.Support vocational training for those not going on to further education 3.Enlist support/funds for the textbook purchasing project and data for university students ## Student Part-Time Work The plan is to approach established food outlets, medical facilities, hotels, factories, and other institutions to seek part-time employment opportunities for our students. This initiative will specifically target students in A-levels and university education. The students will be compensated at student rates, allowing them to earn an income that will help cover smaller expenses. This arrangement aims to reduce their reliance on Vana Trust for essential items such as pens, stationery, printing supplies, sanitary items, toiletries, and data. By providing these employment opportunities, we will empower students to contribute to their educational needs while gaining valuable work experience. 3 of 16 **VANA TRUST Report of the Trustees Continued For the year ended 31 March 2024** ## **FINANCIAL REVIEW** ## **Significant events** WHERE VANA TRUST'S MONEY COMES FROM Grants, individual donors, social enterprise regular monthly donation, corporate giving site B1G1, fundraising activities/events and farm income from trainees. ## HOW MONEY HAS BEEN SPENT IN THE PAST YEAR In the UK, we are in the second year of a three year grant award which contributes to the payment of staff salaries. Regular income sources were spent on maintaining the farm, animal feed, vet fees, staff salaries and workshops. In Southern Africa, monies were spent on school fees, uniforms, stationery, IT hardware and accommodation for students from primary school, through secondary school up to university level. The accounts are summarised on pages 8 to 16 and have been prepared on a receipts and payments basis. During the year, the Charity received contributions of £134,365 and incurred expenditure of £125,060. Of this expenditure, £121,759 was directly spent on the objectives of the Charity. At the year end, the Charity had cash and bank balances of £2,444 and creditors falling due in one year of £25,517. The founding director is owed £24,768. Vana Trust Zimbabwe: 2024/2025 Focus and Fundraising Strategy: As we move into 2024/2025, Vana Trust Zimbabwe is prioritizing the diversification and strengthening of our local funding sources. This strategic shift aims to minimize the financial strain on our parent organization, Vana Trust UK . Increasing our local funding base will enable us to sustain and expand our support for students while fostering a sense of community involvement and ownership. The focus for 2024/2025 will be centred on increasing Vana Trust Zimbabwe's financial independence through local funding sources while maintaining strong ties with our parent organization, VT UK. The annual golf day will serve as a cornerstone for our fundraising efforts, and we look forward to engaging the community and local sponsors in support of our mission to provide quality education to disadvantaged students ## **Reserves** As part of the ongoing assessment of Vana Trust's strategic planning, policies and procedures, the Management Team of Vana Trust has developed a Reserve Policy to provide the charity with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. We propose to maintain the charity's liquid reserves at a level which is at least equivalent to currently one month with the aim of increasing this to three months operational expenditure. The trustees will review the amount of reserves that are required to ensure that they are adequate to fulfil the charity's continuing obligations on a yearly basis. ## **Going concern** The accounts have been prepared on a going concern basis. This is appropriate as the trustees are confident that funds can be raised in future periods to cover any current deficit. ## **Funds in deficit** Vana Trust management may draw on the reserve in an emergency and to take full advantage of unexpected opportunities. The Trustees and Management would then seek to rebuild the fund. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. ## **Recruitment and appointment of trustees** Trustees are appointed by a resolution of the trustees and as set out in the Governing Document and Deed of Trust. 4 of 16 **VANA TRUST Report of the Trustees Continued For the year ended 31 March 2024** ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** VANA TRUST **Charity registration number** 1105276 **Principal address** 11 Romola Road London SE24 9BA ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: ||Mr Nicholas Aubrey Hyman| |---|---| ||Ms Nyasha Gwatidzo| ||(Resigned: 27 August 2024)| ||Mr Peter Fleming| ||Ms Blessings Kaseke| ||Mr Jonathan Frostick| ||(Resigned: 17 February 2024)| ||Ms Jean Muchopa| ||Ms Ali Monjack| ||Mr Richard Rushworth| ||Mr Savio Fernandes| ||Ms Dayo Akande| ||Mr Nicholas Harrison| ||(Appointed: 02 November 2024)| |**Senior management**|Ms Nyasha Gwatidzo| ||(Founding Director)| ||Ms Katy Farnell| ||(CEO)| ||Mr Ian Franklin| ||(Patron)| ||Ms Zoe West| ||(Patron)| ||Ms Juliet Le Breton| ||(Patron)| ||Ms Elizabeth Ward| ||(Patron)| |**Independent examiner**|Willis Burnell Ltd.| ||Unit 1 The Courtyard| ||Parsonage Stocks Road| ||Faversham| ||Kent| ||ME13 0ET| 5 of 16 **VANA TRUST Report of the Trustees Continued For the year ended 31 March 2024** Approved by the Board of Trustees and signed on its behalf by 22 January 2025 ............................................................................. Ms Jean Muchopa 6 of 16 ## **VANA TRUST Independent Examiners Report to the Trustees For the year ended 31 March 2024** I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts to be reached. Willis Burnell Ltd. Unit 1 The Courtyard Parsonage Stocks Road Faversham Kent ME13 0ET 22 January 2025 7 of 16 ## **VANA TRUST Statement of Financial Activities For the year ended 31 March 2024** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
2
Other trading activites
3
Investments
4
**Total**
**Expenditure on:**
Raising funds
5
Charitable activities
6/7
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
106,288
11,422
-
**117,710**
(3,301)
(105,104)
**(108,405)**
**9,305**
(32,378)
**(23,073)**|**Restricted**
**funds**
**£**
16,655
-
-
**16,655**
-
(16,655)
**(16,655)**
**-**
-
**-**|**2024**
**£**
122,943
11,422
-
**134,365**
(3,301)
(121,759)
**(125,060)**
**9,305**
(32,378)
**(23,073)**|**2023**
**£**
108,437
5,031
1| |---|---|---|---|---| |||||**113,469**| |||||(4,226)
(143,924)| |||||**(148,150)**| |||||**(34,681)**
2,303| |||||**(32,378)**| 8 of 16 ## **VANA TRUST Statement of Financial Position As at 31 March 2024** |**Notes**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
12
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Unrestricted income funds
13
**Total funds**|**£**
**2024**
2,444
**2,444**
(25,517)
**(23,073)**
**(23,073)**
**(23,073)**
(23,073)
**(23,073)**|**£**
**2023**
1,747| |---|---|---| |||**1,747**| |||(34,125)
**(32,378)**| |||**(32,378)**| |||**(32,378)**| |||(32,378)| |||**(32,378)**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Ms Ali Monjack Trustee 22 January 2025 9 of 16 ## **VANA TRUST Notes to the Financial Statements For the year ended 31 March 2024** ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. VANA TRUST meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **2. Income from donations and legacies** |Donations received
Grants received|**2023**
**2024**
**Restricted**
**funds**
**Unrestricted**
**funds**
**£**
**£**
**£**
**£**
83,336
110,693
4,405
106,288
25,101
12,250
12,250
-
**108,437**
**122,943**
**16,655**
**106,288**| |---|---| ## **3. Income earned from other activities** ## **Unrestricted funds** Shop income ## **4. Investment income** Bank interest receivable |**2024**
**£**
11,422
**11,422**
**2024**
**£**
-
**-**|**2023**
**£**
5,031| |---|---| ||**5,031**| ||**2023**
**£**
1| ||**1**| 10 of 16 ## **VANA TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024** ## **5. Expenditure on generating donations and legacies** |**Unrestricted funds**
Donations
Support costs|**2024**
**£**
1,105
2,196
**3,301**|**2023**
**£**
807
3,419| |---|---|---| |||**4,226**| ## **6. Costs of charitable activities by fund type** ||**Unrestricted**|**Restricted**|**2024**|**2023**| |---|---|---|---|---| ||**funds**|**funds**||| ||**£**|**£**|**£**|**£**| |Education in Zimbabwe|38,972|1,909|40,881|51,025| |Organic Farm|66,132|14,746|80,878|92,849| |Support costs|-|-|-|50| ||**105,104**|**16,655**|**121,759**|**143,924**| ## **7. Costs of charitable activities by activity type** |**Activities undertaken directly**
Education in Zimbabwe
Organic Farm|**2023**
**2024**
**£**
**£**
40,881
51,075
80,878
92,849
**121,759**
**143,924**| |---|---| ## **8. Analysis of support costs** |Management
Finance
Governance costs|**2024**
**£**
-
-
2,196
**2,196**|**2023**
**£**
22
28
3,419| |---|---|---| |||**3,469**| 11 of 16 ## **VANA TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024** ## **9. Net income/(expenditure) for the year** This is stated after charging/(crediting): Staff pension contributions |**2024**|**2023**| |---|---| |**£**|**£**| |2,826|2,134| ## **10. Staff costs and emoluments** Total staff costs for the year ended 31 March 2024 were: |Salaries and wages
Pension costs
Management
Organic farm|**2024**
**£**
59,449
2,826
**62,275**
**2024**
1
4
**5**|**2023**
**£**
84,922
2,134| |---|---|---| |||**87,056**| |||**2023**
1
4| |||**5**| 12 of 16 ## **VANA TRUST** ## **Notes to the Financial Statements Continued For the year ended 31 March 2024** ## **11. Comparative for the Statement of Financial Activities** ||**Unrestricted**|**Restricted**|**2023**| |---|---|---|---| ||**funds**|**funds**|| ||**£**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|103,437|5,000|108,437| |Other trading activites|5,031|-|5,031| |Investments|1|-|1| |**Total**|**108,469**|**5,000**|**113,469**| |**Expenditure on:**|||| |Raising funds|(807)|-|(807)| |Charitable activities|(138,924)|(5,000)|(143,924)| |**Total**|**(139,731)**|**(5,000)**|**(144,731)**| |**Net income/expenditure**|**(31,262)**|**-**|**(31,262)**| |**Reconciliation of funds**|||| |Total funds brought forward|2,303|-|2,303| |**Total funds carried forward**|**(28,959)**|**-**|**(28,959)**| ## **12. Creditors: amounts falling due within one year** |Other creditors
Accruals and deferred income|**2024**
**£**
24,768
749
**25,517**|**2023**
**£**
33,376
749| |---|---|---| |||**34,125**| ## **13. Movement in funds** ## **Unrestricted Funds** |_General_
General Fund|**Balance at**
**01/04/2023**
**£**
(32,378)
**(32,378)**|**Incoming**
**resources**
**£**
117,710
**117,710**|**Outgoing**
**resources**
**£**
(108,405)
**(108,405)**|**Balance at**
**31/03/2024**
**£**
(23,073)| |---|---|---|---|---| |||||**(23,073)**| 13 of 16 ## **VANA TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024** ## **Unrestricted Funds - Previous year** |_General_
General Fund
**Restricted Funds**
General Fund
**Restricted Funds - Previous year**
General Fund|**Balance at**
**01/04/2022**
**£**
2,303
**2,303**|**Incoming**
**resources**
**£**
108,469
**108,469**
**Incoming**
**resources**
**£**
16,655
**16,655**
**Incoming**
**resources**
**£**
5,000
**5,000**|**Outgoing**
**resources**
**£**
(143,150)
**(143,150)**
**Outgoing**
**resources**
**£**
(16,655)
**(16,655)**
**Outgoing**
**resources**
**£**
(5,000)
**(5,000)**|**Balance at**
**31/03/2023**
**£**
(32,378)| |---|---|---|---|---| |||||**(32,378)**| |||||**Balance at**
**31/03/2024**
**£**
-| |||||**-**| |||||**Balance at**
**31/03/2023**
**£**
-| |||||**-**| ## **Purpose of restricted funds** ## General Fund The relief of poverty, sickness and distress, the advancement of education and the preservation and protection of good health in children and young people. ## **14. Analysis of net assets between funds** |**Analysis of net assets between funds**||| |---|---|---| ||**Net current**|**Net Assets**| ||**assets /**|| ||**(liabilities)**|| ||**£**|**£**| |**Unrestricted funds**||| |_General_||| |General Fund|(23,073)|(23,073)| ||**(23,073)**|**(23,073)**| 14 of 16 ## **VANA TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024** |**Previous year**
**Unrestricted funds**
_General_
General Fund|**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
(32,378)
(32,378)| |---|---| ||**(32,378)**
**(32,378)**| 15 of 16 ## **VANA TRUST Detailed Statement of Financial Activities For the year ended 31 March 2024** |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Grants receivable
**Other trading activities**
Shop income
**Investments**
Bank interest receivable
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Donations
**Charitable activities**
Cost of direct charitable activity (Education
in Zimbabwe)
Cost of direct charitable activity (Organic
Farm)
Cost of grant funded charitable activity
(Organic Farm)
**SUPPORT COSTS**
**Management**
Management (Education in Zimbabwe)
**Finance**
Finance (Education in Zimbabwe)
**Governance costs**
Governance costs
**Total resources expended**
**Net Income**|**£**
**2024**
110,693
12,250
**122,943**
11,422
**11,422**
-
**-**
**134,365**
(1,105)
**(1,105)**
(40,881)
(80,878)
-
**(121,759)**
-
**-**
-
**-**
(2,196)
**(2,196)**
**(125,060)**
**9,305**|**£**
**2023**
83,336
25,101| |---|---|---| |||**108,437**
5,031| |||**5,031**
1| |||**1**| |||**113,469**
(807)| |||**(807)**
(51,025)
(87,849)
(5,000)| |||**(143,874)**
(22)| |||**(22)**
(28)| |||**(28)**
(3,419)| |||**(3,419)**| |||**(148,150)**| |||**(34,681)**| 16 of 16 This page does not form part of the statutory financial statements