PSP A IF eS FV ee NENTA ANCOMYU I RUO!
BER BEF A EH A VWIVVIBAOA
ANNUAL REPORT AND FINANCIAL STATOMoenNTo FOR THE YEAR ENDED
30™ SEPTEMBER, 2021
WAMBUGU & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS
UPHL BUILDING - GROUND FLOOR MIKINDANI STREET, OFF NKRUMAH ROAD
P.O. BOX 86895 - 80100
TEL: 2224644/0799 644 171 Email: wambuguassociate@gmail.com mambo@wambuguassociates.com
MOMBASA
The Kenya Kesho Trust Report andfinancial statements For the year ended 30th September, 2021
CONTENTS
PAGE
| The trust information | l |
|---|---|
| Trustees report | 2 |
| Statement oftrustees' responsibilities | 3 |
| Report ofthe independent auditors | 4 |
| Income and expenditure account | 5 |
| Statement ofaffairs | 6 |
| Notes to the Financial Statements | 7-9 |
| CashFlowStatement | 10 |
Page | of 10
| TheKenya Kesho Trust | ||
|---|---|---|
| Reportandfinancialstatements | ||
| Fortheyearended30thSeptember, 2021 | ||
| THE TRUST INFORMATION | ||
| Trustees | : | Mrs. A. L. Ruysenaars (Chairlady) |
| ; | Mr. P_J. Ruysenaars (Hon. Treasurer) | |
| : | Mr. T.Gander | |
| : | Mr. H_'W.M_Ruysenaars | |
| = | Mr. M.Harwood | |
| : | Mrs M. Heggie | |
| ; | Ms. C. Bramley | |
| Registered office | : | TheKenya Kesho Trust |
| MombasaLunga Lunga Road | ||
| Plot 5029/3 | ||
| PO Box 84851 | ||
| Mombasa 80100 | ||
| Auditors | ; | Wambugu & Associates |
| Certified Public Accountants | ||
| UPHLBuilding - Ground floor | ||
| Mikindani Street - offNkrumah Road | ||
| P.O. Box 86895 | ||
| Tel: 041 222 4644/ 041 222 3326/ 799 644 17] | ||
| Mombasa | ||
| Email:wambuouasxsociate@gmail.com |
Page 2 of 10
The Kenya Kesho Trust Report andfinancial statements For the year ended 30th September, 2021
REPORT OF THE TRUSTEES
The trustees submit their annual report together with the audited financial statements for the year ended 30th September, 2021.
Objectives of the trust: -
The main objects of The Kenya Kesho Trust are the advancement of education for the benefit of the public in particular but not exclusively in the Pongwe/Kidimu Location, Kwale District, Coast Province, Kenya by providing and assisting in the provision of facilities, teachers and equipment.
Financial Review: -
The charity's financial results are set out on page 5 of the financial statements. During the year, the charity had a deficit of expenditure over receipts amounting to GB £1,081
Trustees: -
The members of the board of trustees are named on page | of the report and financial statements. The appointment of the trustees is as per the guidelines of the Articles of Association.
Auditors: -
The auditors, M/s Wambugu & Associates, Certified Public Accountants were appointed during the year and have expressed their willingness to continue in office in accordance with section 719 of the Companies Act, 2015.
BY ORDER OF THE BOARD
pate....46.4...4, CAYSP 2001
Page 3 of 10
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The Kenya Kesho Trust
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Report andfinancial statements
For theyear ended 30th September, 2021 STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus of the charity for that year. In preparing these financial statements the trustees have: -
-
. Selected suitable accounting policies and applied them consistently
-
Made judgements and estimates that are reasonable and prudent
-
Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
-
. Prepared financial statements on the going concern basis.
The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act Cap 486. 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 irregularies.
The trustees certify that to the best of their knowledge and belief, the information furnished to the auditors for the purpose of the audit was correct and complete in every respect.
FOR THE TRUSTEES
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Ahad
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HON.aoe
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pate:. £6. ,,.2 tobe! , F021
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DATE:C6..fe ALE SE, dues
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WAMBUGU & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS (K)
,
Page 4 of 10
Kenya Kesho Trust
Report ofthe independent auditors to the members of Kenya Kesho Trust For the year ended 30th September, 2021
Opinion
We have audited the accompanying financial statements of Kenya Kesho, set out on pages 5 to 9 which comprise the statement of financial position as at 30th September, 2021 and the statements of comprehensive income, statement of changes in equity and of cashflows statement for the year then ended, and, notes, including a summary of significant accounting policies.
In our opinion the accompanying financial statements give a true and fair view of the financial position of the trust as at 30th September, 2021 and of its financial performance and cash flows for the year then ended in accordance with the International Financial Reporting Standards for Small and Medium-sized Entities and the requirements of the Kenyan Companies Act 2015.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit ofthe Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants ‘Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Kenya, and we have fulfilled our ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other Information
The trustees are responsible for the other information. Other information comprises the information included in the Annual Report but does not include the financial statements and our auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Trustees' responsibility for the financial statements
The trustees are responsible for the preparation and fair presentation of the financial statements that give a true and fair view in accordance with the Intemational Financial Reporting Standards for Small and Medium-sized Entities and the requirements of the Kenyan Companies Act, 2015, and such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or crror.
In preparing the financial statements, the trustees are responsible for assessing the trust's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees cither intend to liquidate the trust or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's 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 will always detect a material misstatements when it exists. Misstatement can anse from fraud or error and are considered material if, individually or in the aggregate, hey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements
Kenya Kesho Trust
Report ofthe independent auditors to the members of Kenya Kesho Trust
For the year ended 30th September, 2021
(b)
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the
procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The
. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. . Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
. Conclude on the appropriateness of management's use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to . Evaluate the overall presentation, structure and content of the financial statements, including the disclosures. and whether the financial statements present the underlying transactions and events in a manner that achicves fair presentation.
We communicate with those charged with govemance regarding, among other matters, the planned scope and timing of the audit and
Report on other matters prescribed by the Kenya Companies Act, 2015
In our opinion the information given in the report of the directors on page 2 is consistent with the financial statements
TheWambugCyprian engagement-partnemsesponsible Mambooanwi No. P/268for the audit resulting in this independent auditor's report is CPA Cyprian Mambo Certified Public Acco i For Wambugu & Assotiates seems i iam 2021 UPHL Building - Ground Floor, Mikindani Street —P. O. Box 86895, Mombasa - Kenya Tel (041) 222 4644/0799 644 171 Tel (041) 222 4644/0799 644 171
Page 5 of 10
The Kenya Kesho Trust
Report andfinancial statements For the year ended 30th September, 2021 STATEMENT OF COMPREHENSIVE INCOME
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||||||||
|---|---|---|---|---|---|---|
|2021|2020|
|Note|GBE|GBE|
|INCOME|
|Donations|71,564|45.642|
|Exchange|gains|(loss)|(970)|1,536|
|Total|income|70,594|47,178|
|EXPENDITURE|
|KENYA|KESHO SCHOOL|FOR|GIRLS|
|Bank|charges|279|96|
|Cleaning|expenses|294|271|
|Depreciation|4,748|1,525|
|Electricity|375|267|
|Farming|expenses|667|0|
|Feeding|programme|403|674|
|Food|relief programme|0|1,880|
|Gardens|0|419|
|Insurances|1,392|171|
|Internet|costs|498|351|
|Legal|expenses|755|54|
|Licenses|136|117|
|Marketing|5,310|2;920|
|Medical|expenses|161|49|
|Miscellaneous|expenses|664|422|
|Postage|and|telephone|16]|118|
|Repairs|300|645|
|Salaries|36,122|26,331|
|School|books|2,986|1,948|
|Software|236|
|Stationery|34|173|
|Teacher|training|633|263|
|Transport|expenses|565|366|
|Uniforms|
|56,718|39,060|
|OTHER|EXPENSES|
|School|fees|284|162|
|University|fees|14,673|9,849|
|Total|expenditure|71,675|49.071|
|Net|(deficit)|surplus|for the|year|(1,081)|(1,893)|
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The auditors' report is on page 4
The notes on page 7 and 8 form an integral part of these financial statements.
Page 6 of 10
The Kenya Kesho Trust Report andfinancial statements For the year ended 30th September, 2021
STATEMENT OF AFFAIRS
As at 30th September, 2021
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|||||||||
|---|---|---|---|---|---|---|---|
|2,021|2,020|
|Note|GBE|GBE|
|FIXED ASSETS|3|440,719|425,577|
|CURRENT|ASSETS|
|Debtors|and|other|receivables|3,266|1,161|
|Cash|balances|c|1,038|1,763|
|Bank|balance|35,329|34,206|
|39,633|37,130|
|Fund|accounts|5|18,787|16,347|
|20,845|20,783|
|CURRENT|LIABILITIES|
|Other|payables|-|4]|
|NET|CURRENT|ASSETS|20,845|20,742|
|461,565|446,319|
|FINANCED|BY:|
|Accumulated|fund|brought|forward|29.734|31,627|
|(Deficit)|surplus|for the year|(1,933)|(1,893)|
|ACCUMULATED|FUND|27,801|29,734|
|BUILDING FUND DONATIONS|6|161,907|136,282|
|LOAN|-|PJ RUYSENAARS|7|271,837|280,303|
|461,545|446,319|
|The|financial|statements were approved by the trustees on ft &|Ocdovey|...|2021|
|and|were|signed|on|their|behalf by:|-|:|
|||“"|__|Ff|
|AAL.|Ruysenaars|P.|J.|Ruys¢naars|
|CHAIRLADY|HON. TREAS TREAS|
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__ Ff
P. J. Ruys¢naars
HON. TREAS TREAS
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Page 7 of 10
The Kenya Kesho Trust
Report andfinancial statements For the year ended 30th September, 2021
NOTES TO THE FINANCIAL STATEMENTS
- BASIS OF ACCOUNTING
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice (SORP' 2000), "Accounting and Reporting by Charities" and applicable accounting standards.
- ACCOUNTING POLICIES
(a) Income and expenditure: -
- All income and expenditure are accounted for on cash basis. Costs incurred are allocated directly to the activity to which they are attributable.
(b) Fund accounting: -
- General funds are available for use at the discretion of the trustees in furtherance of general objectives of the charity.
Restricted funds are funds subject to specific restrictive conditions imposed by donors or by the appeal.
(c) Fixed assets: -
Fixed assets are stated at cost. Depreciation is chagred on the straight line method. The rates used are as follows:
| as follows: | |
|---|---|
| Buildings | NIL |
| Furniture, fittings and equipment | 10% |
| Computers | 25% |
| Motorvehicle | 25% |
(d) Company (charity) status
The charity is a registered trust
- (f) Debtors
Debtors of the Trust are all considered to be fully collectible.
(g) Currency: -
The financial statements are stated in Great Britain Pounds (GB £)
Page 8 of 10
The Kenya Kesho Trust
Report andfinancial statements
For the year ended 30th September, 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|3.|FIXED ASSETS|Buildings|Furniture,|Computers|Motor|Total|
|Fittings &|Vehicle|
|Equipment|
|GBE£|GBE|GBE|GBE£|GBE|
|Cost|
|At|Ist|October,|2020|411,850|15,252|-|-|427,102|
|Additions|5,823|808|4,108|9,122|19,861|
|At|30th|September,|2021|417,673|16,060|4.108|9,122|446,963|
|Depreciation|
|At|Ist|October,|2020|-|1,525|-|-|1,525|
|Charge 2021|-|1,411|1,027|2,280|4.719|
|At|30th|September,|2021|-|2,936|1,027|2,280|6,244|
|Net|book|value|
|At|30th September,|2021|417,673|13,124|3,081|6,841|440,719|
|At 30th|September,|2020|411,850|13,727|.|-|425,577|
|4|CASH|BALANCES|
|This|represents|cash|on|hand|as|at|
|the|close|of|the year|1,038|1,763|
|5|FUND ACCOUNTS|
|University|fund|15,941|8,241|
|Girl|sponsorship|2.846|2,838|
|Food|fund|-|5,268|
|18,787|16,347|
|6|BUILDING|FUND|DONATIONS|
|Restricted|funds|-|towards|building|costs|
|At|the|start of the year|136,282|-|
|Increase|/|decrease during|the year|25,625|136,282|
|At|the|close|of|the year|161,907|136,282|
|7|LOAN|BY|TRUSTEES|
|Loan|advanced|by|Trustee,|P.J|Ruysenaars|
|At|the|start of the year|280,303|.|
|Increase|/|decrease|during|the|year|(8,466)|280,303|
|At|the|close|of the year|271,837|280,303|
|The|loan|is|interest|free|with|no|fixed|date|for repayment|
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Page 9 of 10
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|---|---|---|---|
|The Kenya|Kesho|Trust|
|Report andfinancial statements|
|For the|year ended 30th|September,|2021|
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8 CASH GENERATED FROM OPERATIONS
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||||||||
|---|---|---|---|---|---|---|
|Profit|/|(loss)|before|tax|(1,081)|(1,893)|
|Adjustments|for:|
|Depreciation|4.719|1,525|
|Changes|in working|capital|
|Building|fund|shortfall|-|11,371|
|Debtors|and|other|receivables|(2,105)|§,391|
|Creditors|and|other|payables|(41)|4]|
|Cash|generated|from|operations|1,492|16,435|
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Page 10 of 10
The Kenya Kesho Trust
Report and financial statements For the year ended 30th September, 2021 CASH FLOW STATEMENT
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|||||||
|---|---|---|---|---|---|
|2021|2020|
|Note|GBE|GBEt|
|Operating|activities|
|Cash generated from operations|9|1,492|16,435|
|Investing|activities|
|Purchase of fixed|assets|3|(19,861)|(427,102)|
|Financing|activities|
|Donations received|as restricted|funds|7|25,625|136,282|
|Loan from a Trustee|8|(8,446)|280,303|
|-1,190|5.918|
|Movement|in|cash|and|cash|equivalents|
|As|at|Ist October,|2020|18,769|12,851|
|Increase (decrease)|(1,190)|5.918|
|As at 30th September,|2021|17,579|18,769|
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