Charity number: 1118654
ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
LUBBOCK FINE LLP
Chartered Accountants
Paternoster House
65 St Paul's Churchyard
London EC4M 8AB

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
CONTENTS
Page
Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers
Trustees. report
Independent Auditors. Report
7-10
Statement of financial activities
Balance sheet
12
Statement of cash flov
13
Notes to the flnanclal statements
14-26

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Peter William Jamieson
Willy Schaper-Kotter
Carine Martinez
Angelo De Lubio Feril
John Kapend Tshiyamb
Charity registered
number
1118654
Principal office
211 Pacific Highway
Sl Leonards
NSW
ALJStralia
2065
Chief executive officer
Peter William Jamieson
Independent auditors
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors
Patemoster House
65 Sl Paul's Churchyard
London
EC4M 8AB
Bankers
Weslpac Banking Corporation
275 Kent Street
Sydney
New South Wales
2000
Page 1

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the Anglo Australian Christian
and Charitable Fund (the Charity) for the year from 1 April 2021 to 31 March 2022. The Trustees confirm that the
Annual Report and the financial stslements of the Charity comply with the current statutory requirements, the
requirements of the Charity's governing document and the provisions of the Slalement of Recommended
Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and the Republic of Ireland IFRS 1021 (effective January 20191.
Reference and administrative details
Referen￿ and administrative detsils are shown in the schedule of members of the board and professional
advisors on page 1 of the financial stslemenls.
The Trustoes
The Trustees who served the charity during the year were as follows..
Peter William Jamieson
Willy S¢haper-Kotter
Carine Martinez
Angelo De Lubio Feril
John Kapend Tshiyamb
Structure. governanco and management
The Anglo Australian Christian and Charitable Fund Is an unincorporated charity, constituted by a Trust Deed,
dated 14 November2006.
The Charity is run by a Board of Trustees, detailed above. The Trustees meet regularly to review performance of
the Charity, consider risks and issues affecting the Charity, and lo review the future plans of the Charity.
Appointment of new Trustees is governed by the Trust Deed of the Charity. The members of the Board of
Trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of an
existing Trustee. The new Trustees are briefed about their duties by the current Trustees.
Remuneration of key management personnel is sel and reviewed by the Trustees.
The Trustees actively review the major risks the Charity faTrs on a regular basis. The Trustees have also
examined other operational and business risks faced by the Charity and have estsblished systems lo mitigate
these risks.
In 2020 the Trustees developed a Governance and Policy Manual lo improve and streamline overall systems and
governance practice.
Objectives and activities
The objectives of the Charity are to make payments for the charitable purposes of advancing the Christian
religion and religious education.
The short and long term objectives of the Charity during the year were to use donations received lo make
charitable distributions in furtherance of the charity's objectives. The donations are made lo individuals and
organisations, including educational establishments, who promote the Christian religion. This is the strategy that
the Charity has been using lo further ils aims, with the Trustees deciding which individuals and organisalions lo
pay money to.
In establishing the objectives and activities of the Charity, the Trustees have given careful consideration to the
Charity commission's guidan￿ on public benefit.
Page 2

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
The two main criteria which the Charity uses to measure success lie. Its key performan￿ Indicalorsl are the
volume of donations received and donations paid to further the Charity's objectives.
Achievomgnts and Performance
During the year the Charity received total donations of £nil12021'. £549,695), and made payments of £1,296,347
12021.. £494,559) for advancement of Christian Education and Christian mission and other related purposes
Including scholarships.
The Charity held investments at the balance sheet date of £32,500,212 12021. £33,184,5631 and re￿iVed
Income from these investments of £734,402 12021.. £348,335). In relation to the investments held. the charity
aims lo benefit from the maximum possible capitsl gains as well as investment income received. It Is expected
that the value of the Investments as well as income received from them will fluctuate year on year. The Trustees
regularfy monitor the investment perfomiance of the Charity.
Income improved upon the previous year which was significantly impacted by the effects of COVID upon the
share market and subsequent dividends reTrived by the Charity. However, income still remained significantly
below pre COVID levels. Accordingly the Stage 4 building project at the Kings College, DR Congo, was extended
from one lo years, lo manage cashflow within the Charity.
The Charity continues to pla￿ priority on the development of the Iwo schools Il supports, The Kings College
Lubumbashi, the Democratic Republic of the Congo and The International Chinese School, Chatswood, Sydney,
Australia. Progress of both schools over the reporting period, as well as other charitable projects, are
summarised below..
Kin
s Colle
Kings College continues lo thrive and expanded acros5 the 2021-22 reporting period, and has grown to over 600
students.
The Stage 3 construction project was completed mid 2021. 11 consisted of a secondary teaching block with 12
classrooms and amenities and has provided much needed leaching space for the expanding secondary school.
The Stage 4 building project commenced in November 2021. This project will provide an additional secondary
block allowing the high school lo further expand. In managing the cash-flow of the Charity this project Is
projected lo be completed by September 2023, In time for the 2023124 school year.
COVID and associated lockdowns saw the College closed for periods of lime throughout the year.
Supplementary funding became necessary to compensate for families who struggled lo pay fees due to COVID
lockdown impact on employment. This ensured Increased the quality teaching staff were retained.
Most children come from poor communities with limited acTrss to education. Fees are low1500USD plal to cater
for the lower socio-economic status of the surrounding population. The School appreciates the financial support
of the Anglo Australian Christian and Charitable Fund that enables the College lo keep fees at this affordable
level.
The Headmaster, Mr John Kapend Tshiyamb has navigated the challenges of the past 12 months proving his
value not only as an educational leader, but also his acumen for managing the business of the College.
International Chinese School
While no financial grants proved necessary in the 2022 reporting period, the Charity continued its support of the
International Chinese School, a Christian school of the Anglican persuasion on the Lower North Shore of
Sydney, NSW, Australia.
The School saw significant growth over the 12 month period, with enrolments growing 120/a to 83 students from
Kindergarten lo Year 6. While most children are from families of Chinese heritage, the number of families from
other cultural backgrounds has expanded, including those with Caucasian, South American, and other Asian
heritage. Most children arrive at the School with no background in the language, and the 50150 ChineselEnglish
bilingual immersion program is reflected in the students growing mastery of Mandarin.
Page 3

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
COVID had an Impact on the operation of the School throughout the reporting period, with schools closed and
students learning online for a proportion of Term 3 of the academic year. Student learning moved online and the
lock4own seems to have had minimal impact on their academic progress.
All students now attend the newly developed campus al St Leonards on the Lower North Shore of Sydney, NSW,
Australia. The building is new and the school enjoys the lalesl in information technology resources.
Student performance in the national benchmarking tests in literacy and numeracy have been exception, wth the
school averages well placed in the lop perfomiance band for the relevant year groups.
In support of the School, and to strengthen ils financial position, the Charity forgave the 1,225,OOOAUD loan due
from the School. Further details can be found in note 18 of the financial statements.
The support of pastoral work in the Philippines has seen significant growth in churches in the area. Church
planting, through Metro Church Dumaguete, continues lo expand. The Charity provided a funding grant which
enabled the Church lo complete the construction of a prayer house and leadership training centre in Maninglao,
Sibulan on the outskirts of Dumaguete.
The Philippines continues lo struggle with COVID, and the churches continue social programs lo provide food
relief to those who have lost employment.
Ken
Support has been provided to the Church Commissioners of Kenya lo support Christian ministry around the
nation's capital, Nairobi. In particular, the Charity has supported the outreach mission of Sl Prisca's Anglican
Church as they seek to minister lo Impoverished families who live on the outskirts of the city.
South Pacific
The South Pacific is emerging as a new funding focus. The Charity Issued a grant lo purchase a wheelchair lo
Improve the living stsndard and life opportunities of a young disabled boy from the village of Ikawkaw on the
island of Anwa, Vanuatu.
A further grant was made to Libety Baptist church and Christian Academy (School) in BA town, Fiji. Recent
floods destroyed the house of the School's Christian teacher and her husband, who also lead a local venture of
Wycliffe Bible Translators, translating the New Testsmenl into Fijian Hindi language providing a¢￿$S to the
Gospel to over 500,000 people In Fiji. The grant provided funds contributing lo the rebuild of the house.
Scholarshi
Scholarships for tertiary study have been provided for students in the Philippines 1x21 and South Africa 1x11. This
Is empowering students from the developing worfd through education and further opportunities beyond.
General
Other general support projects have included..
Ambassadors for Christ Inlemalional with their worfdwide gospel centred program, 'Evangelism Shift,.
Worldshare, in support of the work of 'Heal Africa,, which works in the diseased ravaged and war-torn
areas of central DR Congo.
Chaplaincy to the emergency services, Toledo USA.
European Mission, with their ministry and Church planting work in Germany.
Power to Change in support of ils Chaplaincy work in secondary schools in socially disadvantaged areas
of Sydney, Australia.
Financial support for retumed missionaries who through their service have limited means as they
transition back into Western Society.
Page 4

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Financial review
During the year the Charity incurred a deficit of £1,272,064 12021.. surplus of £20,399,172) which arose due lo
the loss on the revaluation of investments as explained below. As at 31 March 2022 the Charity had unrestricted
fvnds of £34,391,33812021.. £35,663,4021.
11 is the policy of the Trustees lo continue lo build reserves and use the funds lo make donations for charitable
purposes. The level of donations made by the charity fluctuates year on year depending on availability of funds
and need. In addition, fixed costs are kept to a minimal level and are usually funded by Investment income raised
in the year. As such, the funds currendy held are in line with the Charity's cash reserve policy.
The principal risks which affect the Charity's future financial position are an adverse movement in the value of
Investments held. The global COVID-19 pandemic saw a significant drop in the value of the Charity's
shareholdings in the prior year, bul this has since bounced back to above pre-COVID levels. Further, adverse
movement in the exchange rate belween the Australian dollar and the British Pound presents a further potential
principal risk. These risks are monitored by the Trustees.
Plans for future periods
The Trustees remain committed to advancing the Christian religion and religious education and intend lo
continue using donations reTrived to make charitable distributions to further this advancement. The charity has a
number of Individuals and organisations with shared objectives which it Intends to continue to fund so as lo
further ils aims. The Trustees have experience in working with these individuals and organisalions and anticipate
lo continue funding them In order to promote the Christian faith.
The major focus of the AACCF Into the future is to support the growth of the Kings College, Lubumbashi. The
AACCF aims lo see the Kings College grow to become the leading educational Institution in the region, providing
quality education based firmly on a Christian worldview and associated values. Objectives include..
A school of 1,500 students Prep- Secondary schooling.
Continue the College building program to provide quality educational facilities for students.
Development of sporting grounds on additional land that has been purchased.
Maintain affordability of fees lo ensure the education is accessible lo the general population.
Employment of qualified, capable Christian teachers.
As the School grows sourcing qualified, capable Christian teachers will present its challenges in the DR Congo.
To overcome this challenge the AACCF has a vision for the future to establish Ils own teacher training College
associated with Kings College.
The Charity's shares regained value despite the continued impact of COVID throughout the reporting period.
The share portFolio was valued at £31,039,047 as at 11 July 2022, an increase of 24.3°/o from the same time last
year. The share market is showing signs of volatility and the Trustees monitor this and discuss its impact at
meetings of the Board of Trustees.
The Anglo Australian Christian and Charitable Fund remains commilled to ils objectives, especially in relation lo
the eslablishmenl and support of Christian Schools worfdwide. According lo the Funds available the Charity will
consider other causes into the future as it seeks lo continue ils global focLJS.
Page 5

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Statomgnt of Trustoes. rosponsibilitiOS
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 & Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the slate of affairs of the Charity and of Ils Incoming
resources and application of resources, Including its income and expenditure, for that period. In preparing these
financial slatemenls, the Trustees are required lo..
select suitable accounting F)olicies and then apply them consistently",
observe the methods and principles of the Charib'es SORP IFRS 1021",
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial stalemenls,.
prepare the financial statements on the going concern basis unless Il is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity
and enable them lo ensure that the financial slalemenls 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 Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
nnrniAtsA liv nrAtsr nf the members of the board of Trustees on and signed on their behalf by..
Peter William Jamieson
Trustee
Dale.. 22102123
Page 6

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND
FOR THE YEAR ENDED 31 MARCH 2022
Oplnlon
We have audited the financial statements of Anglo Australian Christian & Charitable Fund Ithe 'charity'l for the
year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement
of cash flows and the related notes, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK
and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial slalemenls..
give a true and fair view of the slate of the charity's affairs as at 31 March 2022 and of ils incoming
resources and application of resources for the year then ended.,
have been properfy prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are Independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and the provisions available for small entities, in the
circumstances set out in note 1.1 to the fin8n¢ial statements, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
awounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going
cOn￿M for a period of at least twelve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual reFX)rt other than the financial statements
and our auditors, report therèon. The Trustees are rÈsFX)nsiblè for the other information contained within the
annual report. Our opinion on the fi'nancial statements does not eover the other information and, except lo the
extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is lo read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial st2temenls or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsisteneies or apparent materi81
misslatemenls, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we eonelude that there is a material
misstalemenl of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 7

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Matters on whlch we are requlred to report by exceptlon
We have nothing lo report in respect of the following matters where the Charities IAccounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Trustees, report is inconsistent in any materi81 respect with the financi81
statements., or
suffi'cient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records and relums., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, the Trustees are responsible for the
preparation of the financial stslemenls which give a true and fair view, and for such internal control as the
Trustees determine is necessary lo enable the preparation of financial statements that are free from material
misstalemenl, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going con￿rn
basis of accounting unless the Trustees either intend lo liquidate the charity or to ￿ase operations, or have no
realistic allemative bul to do so.
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial ststemenls as a whole are free
from material misstatement, whether due to fraud or error, and lo issue an auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misslatemenl when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design prO￿dureS
in line with our responsibilities, outlined above, lo delecl material misstalemenls in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularits'es, including fraud is
detailed below..
In identifying and assessing risks of material misslatemenl in respect of irregularities, including fraud and
noncompliance with laws and regulations, we considered the following..
The nature of the sector and the impact of Covid 19 on financial and operating performance and policies,.
Enquiries of management, including obtaining and reviewing supporting documentation, concerning the
charity's policies and procedures relating lo..
identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-complian
delecling and responding lo the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud., and
the internal controls established lo miligale risks related to fraud or non-complian￿ of laws and
regulations., and
Page 8

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Discussions among the engagement team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud. The engagement team includes audit partners and staff
who have extensive experience of working with charities in similar sectors and this experience was
relevant to the discussion about where fraud risks might arise.
We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing
on provisions of those laws and regulations that had direct effect on the delerminalion of material amounts and
disclosures in the financial ststemenls. The key laws and regulations we considered in this context included the
UK Charities Act, Charities SORP and FRS 102.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which may be fundamental lo the charity's ability lo operate or to avoid
a material penalty.
As a result of these procedures, we considered the particular areas that were susceptible lo misststemenl due lo
irregularities, including fraud were in respect of income recognition and classification, unrecorded grant
commitments, validity of grant expenditure, transactions with related parties and noncompliance with Charity
Commission guidelines. Our prO￿dureS lo respond to risks identified included the following".
Reviewing the financial ststement disclosures and lesling to supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the
financial statements.,
Enquiring of management concerning actual and potential litigation and claims.,
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate
risks of material misststement due lo fraud.,
Reading minutes of meetings of those charged with govemance, and in particular reviewing for any
unrecognised grant commitments",
Performing completeness testing to verify income recognition.,
Verifying income to supporting documentstion to confimi classification.,
Performing an after dale review lo assess the need to recognise additional grant commitments",
Reviewing supporting documentation for a sample of expenditure, ensuring the purpose of grant is in line
with charity objects
Obtaining a full list of related parties and verifying completeness of this list based on our knowledge.
Comparing the list lo transactions during the year to verify that all related party disclosures have been
appropriately made in the financial statements and that the transactions with related parties are in line with
the Charity's governing document.,
Awareness throughout the audit for noncompliance with Charity Commission guidelines including
reviewing any correspondence with the Charity Commission.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstslemenl in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial slatemenls, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al.. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
auditors, report.
Page 9

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2022
Use of our report
This report is made solely lo the charity's Iruslees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's Iruslees those matters we are required to slate to them in an auditors, report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity
and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
l•ocE FIML Llf
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors
Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
26 February 2023
Dale..
Lubbock Fine LLP are eligible to act as auditors in temis of section 1212 of the Companies Act 2006.
Page 10

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
Unrestrlcted
funds
2022
Total
funds
2022
Total
funds
2021
Note
Income from:
Donations
549,695
348,430
Investments
734,402
734,402
Total income
734,402
734,402
898, 125
Expenditure on:
Charitable aclivilies..
Gonls paid
SLJPPOrt costs
Foreign currency gains
1,296,347
1,296,347
494,559
73,014
73,014
99,612
11,067,916) 11,067,916) 11,940,758)
Total expenditure
301,445
301,445
11,346,587)
Net movement in funds before other recognised
gainslllosses)
432,957
432,957
2,244,712
Other recognised gainslllossesl:
ILossesllgains on revaluation of investments
10
11,705,021) 11,705,021)
18,154,460
Net movement in funds
11,272,064) 11,272,064)
20,399,172
Reconciliation of funds-
Total fLJnds brought forward
Nel movement in funds
35,663,402
35,663,402
11,272,064) 11,272,064)
15,264,230
20,399,172
Total funds carried forward
34,391,338
34,391,338
35,683,402
All Income and expenditure in 2021 and 2022 related to unrestricted funds.
The notes on pages 14 to 26 form part of these financial statements.
Page 11

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
BALANCE SHEET
AS AT 31 MARCH 2022
2022
2021
Note
Fixed assets
Tangible assets
Investments
88
33,184,563
10
32,500,212
32,500,212
33,184,651
Current assets
Debtors
Cash al bank and in hand
11
2,456,022
394,926
2,349,610
322,205
2,850,948
2,671,815
Creditors.. amounts falling due within one
year
12
1959,8221
1193,0641
Net current assets
1,891,126
2,478,751
Total ngt assots
34,391,338
35,663,402
Charity funds
Unrestricted funds
13
34,391,338
35,663,402
Total funds
34,391,338
35,663,402
The financ
statements were approved and aulhorised for issue by the Trustees and signed on their behalf by..
Peter Wllllam Jamleson
(Trusteel
Dale. 22102123
The notes on pages 14 to 26 fomi part of these financial statements.
Page 12

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
Note
Cash flows from operating activities
Nel cash lused inllprovided by operating activities
15
1649,5371 12,534,150)
Cash flows from investing activities
Dividends and interest from investments
722,258
351,368
Net cash provlded by Investlng actlvltles
722,258
351,368
Change in cash and cash equivalents in the year
Cash and cash equivalents al the beginning of the year
72,721
12,182,782)
2,504,987
322,205
Cash and cash equlvalents at the end of the year
16
394,926
322,205
The notes on pages 14 to 26 form part of these financial statements
Page 13

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accountlng pollcles
1.1 Basis of preparation of financial statements
The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Anglo Australian Christian & Charitable Fund 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 slated in the relevant accounting policy.
The audit has been undertaken in accordance with the requirements of the FRC'S Ethical Standard,
including the Provisions Available for the Audit of Small Enlilies. The Charity uses the auditor,
Lubbock Fine Chartered Accountants, to assist with the preparation of the financial statements from
books and records.
1.2 Income
All income is recognised once the Charity has entillemenl lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
Donations are recognised as income when pledged or if no pledge has been made then on receipt.
Where a donor specifies a lime period in which the donation can be used, donation income is
recognised in that period. Donations received with imposed restrictions are classified as restricted
funds.
Donated investments are recognised as income al their market value on the date they were gifted.
Dividend income is recognised on the dale dividends are declared.
1.3 Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in selllemenl and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities Is incurred on directly undertaking the activities which further the
Charity's obieclives, as well as any associated support costs.
Support costs are those costs incurred directly In support of expenditure on the objects of the charity
and include project management carried out at Headquarters. All support costs are allocated lo the
one grant making activity of the charity.
Page 14

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accountlng pollcles Icontlnuedl
1.3 Expendlture {contlnuedl
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a
commitment, but not accrued as expenditure.
The charity was not VAT registered in the UK during the year and therefore all expenses are inclusive
of any VAT which cannot be fully recovered. However the Charity does claim Goods Sales Tax on
purchases in Australia.
1.4 Fund accountlng
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes lo the financial
statements.
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the fi'nancial statements.
1.5 Tanglble flxed assets and depreclatlon
Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment.
Depreciation is provided al rates calculated to write off the cost of fixed assets, less their estimated
residual value, over their expected useful lives on the following bases..
Motor vehicles
Computer equipment
330A Straight line
330h Straight line
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequenlly measured at fair value at the Balance Sheet date, unless fair value
cannot be measured reliably in which case it is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and shown in the heading 'Gainslllossesl
on investments, in the Statement of Financial Activities.
1.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank.
1.8 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 15

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accountlng pollcles Icontlnuedl
1.9 Cash at bank and In hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
1.10 Forelgn currencles
Monetary assets and liabilities denominated in foreign currencies are translated into slerfing at rates
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into steding al the rale ruling on the dale of the
transaction.
Exchange gains and losses are recognised in the Stslement of Financial Activities.
1.11 Llabllltles
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in setuement, and the amount
of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity
anticipates il will pay to settle the debt or the amount il has received as advanced payments for the
goods or services il musl provide. Provisions are measured al the best estimate of the amounts
required lo setue the obligation. Where the effect of the lime value of money is material, the provision
is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects
the risks specific lo the liability. The unwinding of the discount is recognised within interest payable
and similar charges.
1.12 Flnanelal Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
Income from donatlons
Unrestrlcted
funds
2022
Total
funds
2022
Total
funds
2021
Donations
549,695
Total 2021
549,695
549,695
Page 16

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Investment Income
Unrestrlcted
funds
2022
Total
funds
2022
Total
funds
2021
Bank interest receivable
Investment income
95
734,402
734,402
348,335
734,402
734,402
348,430
Total 2021
348,430
348,430
Analysls of expendlture on charltable actlvltles
Summary by fund type
Unrestrlcted
funds
2022
Total
2022
Total
2021
Grant making activities
301,445
301,445
11,346,587)
Total 2021
11,346,587) 11,348,587)
Page 17

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysls of expendlture by actlvltles
Support
costs
Including
foreign
currency
galns
2022
Grant
fundlng of
actlvltles
2022
Total
funds
2022
Total
funds
2021
Grant making activities
1,296,347
1994,9021
301,445
11,346,587)
Total 2021
494,559 11,841, 1461 11,348,587)
Analysis of support costs
Grant
making
activities
2022
Total
funds
2022
Total
funds
2021
Salaries
8,215
642
Depreciation - tangible fixed assets
Auditorfs remuneration Igovernancel
Professional fees
Bank charges
Provision against bad debts
Foreign exchange Igainllloss
other support costs
88
88
10,000
62,349
516
10,000
62,349
516
14,400
59,641
234
16,363
11,067,916) 11,067,916) 11,940,758)
61
61
117
1994,9021 1994,9021 11,841,146)
Total 2021
11,841,146) 11,841,146)
The presentational currency is different from the functional currency. The charity's functional currency is
Australian dollars but given that il is registered in the UK ils accounts are prepared in Steding.
Page 18

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysls of grants
Grants to
Grants to
Instltutions Individuals
2022
2022
Total
funds
2022
Total
funds
2021
Grants
1,238,540
57,807
1,296,347
494,559
Total 2021
393,165
101,394
494,559
The Charity has made the following material grants to institutions during the year.
2022
2021
Name of institution
The King's College An Anglican School, Democratic Republic of Congo
Other grants lo institutions
1, 193,856
44,684
288, 180
104,985
1,238,540
393,165
All grants were paid to institutions lo advance the charitable objectives of the Charity.
Auditors. remuneration
2022
2021
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
All non-audit services not included above
10,000
8,795
14,400
2,355
Staff costs
The average number of persons employed by the Charity during the year was as follows..
2022
No.
2021
No.
Average number of employees
Page 19

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Staff costs {contlnuedl
No employee received remuneration amounting to more than £60,000 in either year.
£Nil 12021 £8,215) was paid in salaries to nil12021 one) trustee, John Kapend Tshiyamb, during the
year for his role as the Headmaster of The King's College An Anglican School in Lubumbashi, Congo.
The salary and living allowance was ceased lo be paid after April 2020.
John Kapend Tshiyamb is also considered to be one of charity's key management personnel.
No Trustee received reimbursement of expenses.
Tangible fixed assets
Motor
vehicles
Computer
equipment
Total
Cost
At 1 April 2021
Disposals
40,749
140,7491
1,943
42,692
140,7491
At 31 March 2022
1,943
1,943
Depreciation
At 1 April 2021
Charge for the year
On disposals
40,749
1,855
88
42,604
88
140,7491
140,7491
At 31 March 2022
1,943
1,943
Net book value
At 31 March 2022
At 31 March 2021
88
88
Page 20

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Flxed asset Investments
Listed
Unlisted
invostments investments
Total
Cost or valuation
At 1 April 2021
Revaluations
Foreign exchange movement
33,149,193
11,738,240)
1,017,676
35,370 33,184,563
33,219
11,705,021)
2,994
1,020,670
At 31 March 2022
32,428,629
71,583 32,500,212
Net book value
At 31 March 2022
32,428,629
71,583 32,500,212
At 31 March 2021
33,149,193
35,370 33,184,563
11. Debtors
2022
2021
Due within one year
Other debtors
Prepayments and accrued income
2,348,627
107,395
2,254,359
95,251
2,456,022
2,349,610
other debtors includes a loan of £2,338,636 12021 £2,251,130) due from The Trustee for Anglo
Australian Christian and Charitable Trust. The loan is unsecured, interest free and repayable on demand.
12. Creditors: Amounts falling due within one year
2022
2021
Trade creditors
8,651
937,636
13,535
2,695
171,045
19,324
Grant commitment
Accruals and deferred income
959,822
193,064
Page 21

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
13. Statement of funds
Statement of funds - current year
Balance at
31 March
2022
Balance at 1
April 2021
Galnsl
(Losses)
Income Expendlture
Unrostrictgd funds
General Funds
35,663,402
734,402
1301,4451 11,705,021) 34,391,338
statement of funds - prior year
Balance at
31 March
2021
Balance at
1 April 2020
Transfers
inlout
Gainsl
(Losses}
Income Expenditure
Unrestricted
funds
Designated
funds
School Property
Purchase Fund
1,741,303
11,741,303)
General funds
General Funds
13,522,927
898,125
1,346,587
1,741,303 18,154,460 35,663,402
Total
Unrestricted
funds
15,264.230
898, 125
1,346,587
18,154,460 35,663,402
The School Property Purchase Fund relates to funds sel aside to make a loan lo The Trustee of Anglo
Australian Christian and Charitable Trust for the purchase of property which will become the permanent
location of the International Chinese School. The transfer be￿een the School Propety Purchase Fund
and general funds totalling £1,741,303 was made in the prior year due to the completion of the purchase
of the school property.
Page 22

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
14. Analysls of net assets between funds
Analysls of net assets between funds - current year
Unrestricted
funds
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
32,500,212 32,500,212
2,850,948
2,850,948
1959,8221
1959,8221
Total
34,391,338 34,391,338
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
Total
funds
2021
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
88
88
33,184,563 33,184,563
2,671,815
2,671,815
1193,0641
1193,0641
Total
35,663,402 35,663,402
Page 23

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
15. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles
2022
2021
Nel income for the year las per Statement of Financial Acliviliesl
432,957
2,244,712
Adjustments for:
Depreciation charges
Dividends and interest from investments
Foreign currency non cash movement on investments
IlncreasellDecrease in debtors
IncreasellDecre8sel in creditors
88
642
1734,4021
1348,4291
11,020,670) 11,690,247)
194,2681 12,250,186)
766,758
1490,6421
Net cash Iusod inyprovided by operating activities
1649,5371 12,534, 1501
16.
Analysis of cash and cash equivalents
2022
2021
Cash in hand
394,926
322,205
Total cash and cash equivalents
394,926
322,205
17. Analysls of changes In net debt
At 1 April
2021 Cash flows
At 31 March
2022
Cash al bank and in hand
322,205
72,721
394,926
322,205
72,721
394,926
Page 24

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
18. Related party transactlons
During the year payments of £nil 12021 £2751 were made to Catherine Kapend, daughter of trustee
John Kapend Tshiyamb, in respect of a scholarship. The total amount included within grants lo individuals
in respect of Catherine Kapend was £nil 12021 £2751. During the year payments of £nil12021- £1,510)
were also made lo the University of Capetown in respect of fees for Catherine Kapend's scholarship.
During the year, payments of £8,024 12021 £Nill were made to The King's College to manage the
distribution in respect of Catherine Kapend's scholarship and the total amount is included within grants to
institutions is £8,02412021 £Nill.
During the year further loans of £nil 12021 £123,681) were made to the International Chinese School
Limited, an Australian school in which Peter William Jamieson is a Chairman of the School Board. At 31
March 2022, the total due from the International Chinese School Limited was £nil12021- £664,935). The
Charity recognises the School's inability lo ￿paY the debt from profitable trading in the foreseeable future.
As such the Trustees of the AACCF unanimously agreed as a sign of the Charity's ongoing commitment
lo the International Chinese School, to forgive the debt of £664,935. This resulted in the reversal of the
original loan Ideblorl and the provision that had been made against it, resulting in no impact lo the
Statement of Financial Activities or Balance Sheet in the year ended 31 March 2022. As noted in the
Trustees report, the activities of the Trust are consistent with the objectives of the Charity.
During the year donations of £465,525 12021 £761,412) were paid to The King's College An Anglican
School, a school in which John Kapend Tshiyamb, a trustee is the headmaster. £58,783 12021
£644,277) of these donations were accrued in the prior year. An amount of £937,63612021 £171,045)
was committed to be paid as at 31 March 2022. The total amount included within grants to institutions in
respect of The King's College was £1,193,85512021 - £288,180).
During the year fees for education consultancy lotslling £53,55412021 £57,286) were paid lo Jamieson
Consulting and Services, a family partnership registered in Australia in which Peter William Jamieson is a
partner.
During the year an unrestricted donation of £nil 12021- £549,6951 was received from JA Investments
Limited, a company which is owned by Willy Schaper-Koller, a Iruslee of the charity.
At the balance sheet, the Charity was owed £2,338,636 12021 £2,143,811) from The Trustee for Anglo
Australian Christian and Charitsble Trust (the Trusll, an entity in which Peter Jamieson is the Chairman,
in relation to a loans made during the years ended 31 March 2020 and 31 March 2021. The loan is
repayable if and when the Trust is able to generate sufficient income and reserves lo viably repay. As
noted in the Trustees report, the activities of the Trust are consistent with the objectives of the Charity.
Page 25

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
19. Flnanclal Instruments
2022
2021
Financial assgts
Financial assets measured al amortised cost
2,456,022
2,349,610
2022
2021
Financial liabilities
Financial liabilities measured al amortised cost
959,822
193,064
Financial assets measured al amortised cost comprise accrued income and other debtors.
Financial liabilities measured at amortised cost comprise accruals and trade creditors.
Page 26