REGISTERED CHARITY NUMBER: 1121659
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
Rock of Joy Trust
Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral Merseyside CH60 0EE
Rock of Joy Trust
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Rock of Joy Trust
Report of the Trustees for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the education of the pupils attending Rock of Joy Primary Schools in Masaka, Antioch, and associated schools in Uganda by providing and assisting in the provision of facilities and equipment for education at the school.
To preserve and protect the health of the children attending Rock of Joy Primary Schools in Masaka, Antioch, and associated schools in Uganda, by providing and assisting in the provision of facilities, support services and equipment.
The relief of financial hardship either generally or individually of people living in the area surrounding Rock of Joy Primary Schools in Masaka, Antioch, and associated schools in Uganda, by making grants of money or providing or paying for items, services or facilities for the relief of the sick or poor, either generally or individually.
Public benefit
The trustees are meeting their public benefit requirement by advancing the education of the pupils attending Rock of Joy Primary Schools in Masaka, Antioch, and associated schools in Uganda by providing and assisting in the provision of facilities and equipment for education at the schools.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This has been a difficult year due to Covid. The schools were kept closed but we felt it was right to continue to pay teachers their salaries in order to retain them. This also meant that vital funds percolated into their communities where all work and travel was stopped so that the economy failed at a local level with great hardship.
The only activity that was allowed to carry on was farming, although curfews were in place. As a result, the coffee plantation was cared for, and labourers were paid which generated further funds into the community. It was therefore in the cities that the worst hardship existed.
In November 2021 flights were re-opened to Uganda and a trustee went out immediately to assess the situation for governance purposes. We were delighted that everything was in order and where staff had left, new appointments had been made. In particular, new head teachers were appointed to both Masaka and Lugala schools. These have turned out to be excellent appointments.
In January 2022 the schools were allowed to reopen with additional Covid restrictions, however the government schools found themselves in difficulties. They had not paid their staff throughout the lockdown and teachers had found alternative employment. As a result, there was an acute shortage of teachers. The government put up all salaries by 25%, but many did not want to go back to teaching and our teachers were being poached by schools without teachers. We therefore felt compelled to match the government salaries, but this put an enormous strain on our own finances as increasing donations by 25% was always going to be difficult. However, with God's help we have managed to stay afloat. It is becoming gradually more apparent that the Russian war on Ukraine may affect our economy and therefore reduce future donations.
Many schools closed and this has put pressure on us to take more students. Our Ugandan leaders have not been able to refuse students wanting to study and therefore class sizes have increased significantly. This makes more work for the teachers and we are asking what can be done to control numbers to a more manageable level.
Throughout all of this, the coffee farm has developed. The joint project with Kew gardens to develop new commercial production of rare native coffee is looking very promising. The first crop will come in summer 2022 and then annually will increase greatly. We are therefore arranging for a team of three people to go to Uganda in Summer 2022 to set up financial controls and improve governance since with larger sums of money being handled, the risk of financial irregularities increases.
Page 1
Rock of Joy Trust
Report of the Trustees for the Year Ended 31 March 2022
FINANCIAL REVIEW
During the year donations received amounted to £109,705 (2021 £107,572) and Gift Aid was £17,061 (2021 £16,194). The charity donated £114,371 to Rock of Joy Educational Services (2021 £152,338). Other costs amounted to £3,353 (2021 nil).
The net surplus was £9,042 (2021 deficit of £28,516) and the total unrestricted reserves held at the year end were £20,052 (2021 £11,010).
FUTURE PLANS
Our aim is to continue providing support to the three schools in Uganda and to further advance self sufficiency with the coffee plantation..
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 new trustees
There must be at least 3 trustees. Apart from the first trustees, every trustee must be appointed for a term of 5 years by a resolution of the trustees passed at a special meeting called under clause 15 of the deed. In order to be eligible any potential trustee must be over 18 years of age, and never disqualified from office under the provisions of clause 11 of the deed. In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1121659
Principal address
C/o 66 Thurstaston Road Heswall Wirral CH60 6RX
Trustees
S D Blair MS FRCS Mrs C M Blair Mrs S Cambridge C Penn D Cambridge
Independent Examiner
Stuart Kellner FCA Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral Merseyside CH60 0EE
Approved by order of the board of trustees on 12 December 2022 and signed on its behalf by:
S D Blair MS FRCS - Trustee
Page 2
Independent Examiner's Report to the Trustees of Rock of Joy Trust
Independent examiner's report to the trustees of Rock of Joy Trust
I report to the charity trustees on my examination of the accounts of Rock of Joy Trust (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Stuart Kellner FCA Dufton Kellner Limited Chartered Accountants Barnston House Beacon Lane Heswall Wirral CH60 0EE
12 December 2022
Page 3
Rock of Joy Trust
Statement of Financial Activities for the Year Ended 31 March 2022
| 31.3.22 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 126,766 EXPENDITURE ON Charitable activities Rock of Joy Educational Services 114,371 Other 3,353 Total 117,724 NET INCOME/(EXPENDITURE) 9,042 RECONCILIATION OF FUNDS Total funds brought forward 11,010 TOTAL FUNDS CARRIED FORWARD 20,052 |
31.3.21 Total funds £ 123,766 152,282 - 152,282 (28,516) 39,526 11,010 |
|---|---|
The notes form part of these financial statements
Page 4
Rock of Joy Trust
Balance Sheet 31 March 2022
| 31.3.22 | 31.3.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 5 | 62,658 | 57,998 |
| Cash at bank | 7,394 | 3,012 | |
| 70,052 | 61,010 | ||
| NET CURRENT ASSETS | 70,052 | 61,010 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 70,052 | 61,010 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 6 | (50,000) | (50,000) |
| NET ASSETS | 20,052 | 11,010 | |
| FUNDS | 8 | ||
| Unrestricted funds | 20,052 | 11,010 | |
| TOTAL FUNDS | 20,052 | 11,010 |
The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2022 and were signed on its behalf by:
S D Blair MS FRCS - Trustee
The notes form part of these financial statements
Page 5
Rock of Joy Trust
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
During the year the charity paid travel costs of £1,052 (2021 nil) on behalf of a trustee to undertake a governance visit to Uganda.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 123,766 |
| EXPENDITURE ON | |
| Charitable activities | |
| Rock of Joy Educational Services | 152,282 |
| NET INCOME/(EXPENDITURE) | (28,516) |
Page 6
continued...
Rock of Joy Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 39,526 |
| TOTAL FUNDS CARRIED FORWARD | 11,010 |
4. INDEPENDENT EXAMINER
There was no independent examiner's remuneration for the year ended 31 March 2022 nor for the year ended 31 March 2021.
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.22 | 31.3.21 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other loans | 50,000 | 50,000 | ||
| Gift aid | 12,658 | 7,998 | ||
| 62,658 | 57,998 | |||
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Other creditors | 50,000 | 50,000 | ||
| 7. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Amounts falling due between two and five years: | ||||
| Other loans - 2-5 years | 50,000 | 50,000 | ||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.21 | in funds | 31.3.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,010 | 9,042 | 20,052 | |
| TOTAL FUNDS | 11,010 | 9,042 | 20,052 |
continued...
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Rock of Joy Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 126,766 126,766 |
Resources Movement expended in funds £ £ (117,724) 9,042 (117,724) 9,042 |
Resources Movement expended in funds £ £ (117,724) 9,042 (117,724) 9,042 |
|---|---|---|---|
| 9,042 |
Comparatives for movement in funds
| At 1.4.20 £ Unrestricted funds General fund 39,526 TOTAL FUNDS 39,526 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 123,766 TOTAL FUNDS 123,766 |
Net movement At in funds 31.3.21 £ £ (28,516) 11,010 (28,516) 11,010 Resources Movement expended in funds £ £ (152,282) (28,516) (152,282) (28,516) |
Net movement At in funds 31.3.21 £ £ (28,516) 11,010 (28,516) 11,010 Resources Movement expended in funds £ £ (152,282) (28,516) (152,282) (28,516) |
|---|---|---|
| (28,516) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.20 | in funds | 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 39,526 | (19,474) | 20,052 |
| TOTAL FUNDS | 39,526 | (19,474) | 20,052 |
continued...
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Rock of Joy Trust
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 250,532 250,532 |
Resources Movement expended in funds £ £ (270,006) (19,474) (270,006) (19,474) |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 9
Rock of Joy Trust
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 109,705 | 107,572 |
| Gift aid | 17,061 | 16,194 |
| 126,766 | 123,766 | |
| Total incoming resources | 126,766 | 123,766 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rock of Joy Educational Services | 114,371 | 152,338 |
| Other | ||
| Travel | 3,353 | - |
| Support costs | ||
| Finance | ||
| Bank charges | - | (56) |
| Total resources expended | 117,724 | 152,282 |
| Net income/(expenditure) | 9,042 | (28,516) |
This page does not form part of the statutory financial statements
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