2022-12-31-accounts

Annual Report and Financial Statements 2022

Charity Reg No: 1113133 Company Reg No: 5570327

Annual Report and Financial Statements 2022

Contents:	Page no.
Reference and Administrative Details	2
Structure, Governance and Management	3
Objectives and Activities	3
Achievements and Performance	4
Future Plans	5
Financial Review	6

1

Reference and Administrative Details

Charity Name: The U Foundation Registered Office: BVM House Trinity Lane Hinckley Leicestershire LE10 0BL Company Reg Number: 5570327 Directors: Sarah Elton Barbara Fletcher Harsad Chikhlia Charity Reg Number: 1113133 Trustees: Sarah Elton Barbara Fletcher Shelagh Thomson Robert John Beare Harsad Chikhlia Charles Gwillim Independent Examiner: Jonathan Read

2

Structure, Governance and Management

The U Foundation is a UK registered charity and a company limited by guarantee, as defined by the Companies Act 2006. The U Foundation is governed by its Memorandum and Articles of Association, drawn up on 21 September 2005.

The U Foundation gained charity status on 01 March 2006 and complies with the Charities Act 2011.

Objects of the Charity:

To provide relief from poverty, sickness, and distress in any part of the world and in particular the continent of Africa, and in furtherance of this object to provide relief by the provision of facilities of all kinds, support services and equipment generally calculated to reduce the need, hardship, or distress of such persons, and to promote awareness of poverty in Africa and elsewhere generally.

Trustees

New trustees are advised of their obligations under charity law. Trustees are re-appointed at the Annual General Meeting and meet quarterly for business. They must be committed to the aims and objectives of the charity. Trustees delegate the day to day running of the organisation to the Charity Administrator but should be prepared to give their time willingly to support the running of the Charity.

Objectives and Activities

Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.

The purpose of The U Foundation is the provision of relief from poverty, sickness, and distress, in particular on the continent of Africa.

The principal aim is to provide the tools to educate and empower communities so that they can develop sustainably. The main activities include the ongoing support and development of specific rural schools, pupil sponsorship and the provision of freshwater through boreholes.

3

Achievements and Performance

For the past few years activities within the charity have been reduced due to the pandemic. Links with partners in Zambia have remained strong but have been limited to electronic communications. 2022 saw the first trustee visit to Zambia since 2019. Restrictions following the pandemic were all lifted, allowing travel to go ahead with ease. The visit was a success and provided a welcome and necessary insight into developments at the projects the charity supports.

Siankaba Community Trust, Southern Province, Zambia

The U Foundation works closely with the Siankaba Community Trust, with an ongoing commitment to the community and school. The charity’s work depends on the strength of this relationship and therefore regular visits by trustees help reinforce this partnership.

At the beginning of the new school year in 2022, the Siankaba Community Trust School had expanded to grade 6, with total pupil numbers increasing from 121 to 145. There were now 9 teachers and support staff.

The school feeding programme continued to be one of the most important aspects of the school day, particularly as some households were still feeling the effects of the pandemic and the cost of living rising.

Despite being a quiet year on the fundraising front, improvements were ongoing at the school. The canteen was extended with a new cooking and food storage facility provided. Walkways within the grounds were improved and some simple landscaping was undertaken. Several second-hand donated laptops were provided, along with dedicated interactive software supporting the Zambian curriculum. The charity was also able to begin sponsorship for two former pupils studying grade 8 at boarding school.

Educational school trips started again, the highlight being the grade 5 and 6 classes visiting the local helicopter station and meeting a pilot. The girls club was also resurrected with members benefiting from various visits and guest speakers.

Investment in the local community continued, with the purchase of a new hammer mill. This is essential providing the locals and those from surrounding villages with a facility to mill their maize, rather than having to walk several miles to do so.

The Siankaba Community Trust acquired land for a communal sports pitch/school playing field. This has proved a success among everyone, being used regularly by the school as well as various local sports teams.

Once again the charity was able to start delivering donated clothing, shoes and school resources. These items are always welcome and distributed fairly, with an emphasis on those facing particularly hard times.

4

The Sponsor a Child programme provides a small but steady income for the charity. Income contributes towards the general running costs of the school as well as helping the most vulnerable of pupils.

Charity Begins at Home

Support in Mfuwe in the Eastern Province of Zambia continued on a limited scale. The Charity Begins at Home student sponsorship programme had been reduced during the pandemic and therefore no sponsorship requests were made in 2022. The annual calendar was produced, with copies distributed, raising awareness and funds for local schools and community development. A visit to one of the projects previously supported, Jumbe Secondary School, was made. The new classrooms were all in good order, allowing all students to study under cover rather than the previous makeshift outdoor classrooms.

Fundraising activities

With no cycle challenge planned, fundraising activities remained on hold. One supporter was able to use his deferred place and run the London marathon, but funds had already been raised the previous year.

Future Plans

The focus remains on the expansion programme at the Siankaba Community Trust School, taking the school to grade 7. Once all structures are complete, it is expected that the financial burden will be reduced to running costs and maintenance. Funds will be set aside as a contingency or for additional development that has not yet been accounted for.

Links to Charity Begins at Home also remain strong, and we will endeavour to support the community in the South Luangwa where possible. Discussions were initiated this year to support further water projects in future.

As a small charity, we can retain personal relationships with both donors and beneficiaries. With no salaries to pay or large overheads, donors can be confident that the money they pledge, gets to where it needs to.

The U Foundation will continue to work with both Siankaba Community Trust and Charity Begins at Home to offer support in the form of educational sponsorship wherever funds allow.

By the end of the year, discussions were already in place regarding fundraising events including a cycle challenge for 2023.

5

Financial Review

Income

For the reporting period, The U Foundation’s income totalled £29,449 whilst expenditure totalled (£48,844), resulting in a deficit of £19,395 for the year. The charity’s cash reserves were £204,197 at year-end. These funds will largely be used for plans at school projects in Zambia.

Donations in general were slightly higher during the accounting period in comparison to the previous year.

Income from fundraising events brought in a total of £298 due to the ongoing challenges after Covid. No cycle challenge events took part during this accounting year.

Funds held as custodian trustees on behalf of others

A total of £4,330 of the income was held by TUF as custodian trustees on behalf of others during the accounting period. £1,650 was received on behalf of Conservation South Luangwa (CSL). It is CSL’s mission ‘to work with community and conservation partners in the protection of the wildlife and habitats of the South Luangwa ecosystem’. As restricted funds, these donations were communicated to CSL and documented. These monies were transferred during this accounting period.

£2,680 was received on behalf of Time and Tide Foundation to be ringfenced and held as restricted funds towards their Kapani School Project in Mfuwe. Time and Tide Foundation ‘aim to give education to children who would otherwise not be able to go to school’. These funds were transferred during this accounting period.

Expenditure

The total expenditure amounted to £48,844, the majority of which relates to grants payable. Of this, £41,226 was paid to the Siankaba Community Trust, to cover school running costs, building work/renovations, pupil sponsorship and community support. A sum of £1,547 was spent on the new website design and miscellaneous IT expenses.

The remaining grants payable were to those charities for which we acted as custodian trustees. (CSL £1,650, Time and Tide £2,680)

The charity holds a reserves policy ensuring sufficient funds are maintained to enable the charity to carry out its activities. In the coming years, there will continue to be costly developments at Siankaba which will require a large injection of funds, as well as increased running costs.

Although the charity’s income does not require a risk management statement, The U Foundation has in place a risk management policy to mitigate potential risks. In addition, robust financial controls are in place, ensuring finances and resources are properly managed and used effectively.

6

The charity has limited overheads, with the charity administrator’s salary and expenses being paid by a local business. Day to day running costs amounted to £1585 for the period.

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

7

Registered nurnber 5570327 Chartty number 1113133 The U Foundation Limited IA company Llmlted by Guarantee) Report and Unaudited Accounts 31 December 2022

The U Found4tlon Lknlt•d ompany Infomiatlon Dlrettors H Chikhlia Mrs S L Elton Mrs B A Flet¢her H Chikhlia Accountant JCR Bookkeepln8 Service5 21 Kingsway Lelcester LE3 IIL Bank•rs Bartlays Bank PIC Tovm Hall Square Leicester LEI 9AA Reg15t*ed offi¢e BVM House Trlnity Lane Hincklev Lercèstershire LEIO OBL R¢glstered number 5570327 Charlty number 1113133

Thè U Foundatx>n Limited Re81stered numbv.. 5570327 Dlrertors. Report The dlrertors presentihelr report and accounts for the year ended 31 December 2022. Obkctlves and actlvltle5 The U Foundatlon Llmlted. Is Ilmlted by guarantee (number 55703271 and a reglstered charlty Inumber 11131331. Its principal address and its registered office address bs BVM House. Trinity Lane, Hintkley, Le1￿lerSh1re LEIO OBL. The company's object5 and principal activity duringthe year continued to be the provision of relSef from poverty. sitknèss and distress in any part of the world and in particular, the continent of Africa and to promote awareness of poverty In Afrlca and elsewhere generalty. (rectors The directors of ihe charttable company are its trustees for the purpose of charity law and throu8hout thls report are collecbvely referred to as directofs. Thefollowing directors served duringthe yèar= Mr H Chlkhlia Mrs S L Elton Mrs B A Fletcher The charitable company is limiteil by guarantee and has no share tapltal. In the event of the company being wound up, member5 are required to contribute an amount not exceedin8 £10. Alsk management The directors have a rlsk management strategy whlch includes an annual revlew of the risks the tharily faces and the establlshment of systems and procedure5 to mitigate those risks and implementation of procedures de518ned to mlnlmlse any potentlal Impact on the charty should those rfsks materfallse. Re¥1￿ ol actlvltles for thev The charity reported a deficit of1£19,3951 for the year12021'.1£6,4141. Thedetsiled results a￿ set out in the attathed financial stements. Reserves pollry The director5 aim to ensure that sufficlent fund5 are maintslned to enable the company to carry out hs actfvltles. Small Company provlslon5 Thi5 report has been prepared in ac¢ordance wrth the prow5i0ns in Part 15 of the Companies Art 20Q6 applicable to companies subject to the small companies regime. Thls report was approved by the board on 03 September 2023 and signed on its behalf. H Chikhlia Dlrector

The U Foundotlonumfted IndependentExamlner¥ Report to the TTh5teesoJThe UFoundotlon Umlted l on the accounts ofThe U Foundallon Umlted forthe year ended 31 December 2022, whkh are set on pages 4 to 7. Rèsp¢rtiv¢ responsibilities oltrusle¢s ¥nd wrniner The Charity's trustees are responsible for the preparatlon of the accounts. The Charivs trustees consider that an audit 15 not requirÈd for this year (under sertion 43121 of the Charities Act 19931 and an independent examlnatlon Is needed. It is my responsibility to.. examine the accounts lunder section 4313llal of the 1993 Actl; to follow the procedures laid down In the General Directions given by the Charfty Q)mmissloners (under Section 4317llbl of the 1993 Act); and to state whether particular matters have come to my attention. Ba515 ollndqpqndent gxamln•rs r•port My examination was carried out in accord3nce ￿ General Dlrections Biven by the Charfty Cornmi5sioners. An examination includes a revlew of the accountlng iecords kept by the charlty and a compar150n of the a¢¢ounts presented with those records. It also includes consideration of any unusual items or disdosures in the accouTrts, and seeking explanation from you as trustees concernlng any such matters. The prO￿dureS undertaken do not providÈ all the evldènte that wouky be required in an audiL and consequently I do ntst express an audit opinion on the view given by the accounts. Indep•ndent •xamlnarfs statemènt In connection wlth my examlnatlon, no matter has come to my attentlon'.11 whlch Bfves me reasonable Cause to believe that In any materlal respect the requirements to keep ac¢ounilnB re¢ords In accordance wilh sethion 41 of Ihe 1993 Act,. and to prepare accounts which accord with the accounting records and compty wtth the accountlng requlrements of the 1993 ACL have not been met,. or ill to whlch, In my opinion, attention should be drawn In order to enable proper understsnding of the accounts to be reached. JC Read BA (Honsl ASIP Dip PFS JCR Bookkeeping Seryices 21 Kingsway Leicester LE3 21L 03 September 2023

The U Foundatw)n Limited Statsment of Flnanclal Artl¥ltles for th¢ year ènded 31 De¢enbb¢r 2022 Notes 2022 2021 In¢omlng resowce5 Income from charitable ac￿VItIeS and 8enerated funds 29A49 27,997 Resourc•s •xp•nd•d Fundraisin8 and dirett charitable èctiwties Costs 148,8441 121,5831 P4èt incoming resources 119.3951 6.414 Other retoBni%ed Éainslllos5e51 Net incoming resources for the financial year 119,3951 6,414

The U Foundatlon Umlted Balanc• Sh••t as at 31 Decémber 2022 Not•s 2021 Curr•nt a5s•ts Debtor5 Prepayment Cash at bank and In hand 221 221,992 204.197 Cr4dltofs: amounts talhnB du• wlthln one year Net current 45sets ReseThes General Attumulated Funds 204,197 22L932 Nèt funds The directors are Satisf￿ that the company is entitled to exemptivn from the reguirement to obtain an audit under 5ectk)n 477 of the Companle5 Art 2(*)6 and that members have not required the company to obtain an audlt in accordan￿ with sectkjn 476 of the Act. The dlrectors acknowledgè their responsibilltles for complying with the requlrements of the Companles Art 2006 wlth respect to accountlng records and the prepara￿On of a￿ounts. The accounts have been prepared in accordance with the provlslons In Part 15 of the Companle5 Art 2006 appllcable to companle5 subject to the small companles regime. H Chikhli Director Approved by the board on 03 September 2023

Th• U Found•tbn Umlt•d Ngte510 the Accwnts forthe ￿ar ended 31 Dgcern￿r 2022 l Accountlni polldes Basls of preparatlDn The accounts have been prepared under the histt*ri¢al cost convention and in accordance with the Finanaal Aeporting Stsndard for Smaller Entlties leffectiveAprfl 20081. The accounts have also been drawn up in accordance WTth the Statement of Recommended Pracbce ISORPI- 'Actounting and Reporting by Charities" issued by thè Charity Commissioners in England and Wales. I￿orne All incomln8 fe50urces, Sncludln8 donatlons, 8ifts and 8rants are Included In the Statement of Hnancial ACtI￿tIeS when the charity is legalty entitled to the income and the amournt can be quaniified wlth reasonable a¢¢uracy. Income recelvable under 81ft aid Inclvdes the related Income tsx recoverable. Investment income comprlslng Interest re￿1vable15 Included when reCeI￿ble. Expenditwe Expendlture is atcounted for on an accruals basis inclusive of the irrecoverable VAT, which is aggregated to the cost to which it relates. Fund accountln8 Fund5 comprise unrestricted fvnd5 whlch are avallable for use at the dlscretlon of the dlrectors In furtherano of the general objectiyes of the charity. Taxatlon The charity is exempt from corporation lax on its tharliablè actlvitles. Forev ¢urren¢les Assets and liabilitie5 in foreign currencies are translated into Sterli￿ at the rates of exchange rulin8at the balance sheet datè. Transact40ns in foreign currendès are translated into sterllng at the rate of eXCha￿e rul1￿ at the date of transaction. Exchan8e differences are taken Into account in arriving at the operatlng results. 2. D•btors 2022 2021 Other debtors IlrTe¢overable debtor) 3. Credltors: amounts falling due wlthln one ￿r other credltors 4. Genernl lundg At lJanu3ry 2021 Surplusldeficitl for the year Irrecoverèble debt lothèrl Exchan8e Rate convwslon Profltllossl 221.992 119.3951 1,600 At 31 December 2022 204,197

The U Foundatlon Umlt Notes to the Accounts lorih¢ y•ar •nded 31 De￿mber 2022 5. Trustee remunw•llon Notrustees recaved any remuneration or reimbursed expenses durfng the year. 6. Contrdlln8 Party In the opiftion of the directors. glven the structure of the company. there is no ultimate controllln8 party-