| TRUSTEES' REPORT | TRUSTEES' REPORT | |||||||||||
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| I«1~aeshma«lhsvraponad«plsafs»«allele «s I Ih maados3IM«h2023 |
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| The faN» ~Ishamus Mm I»ofl pfopaal e Iccefcaleo mlh s»a ~ud pal«Sr 1st aul Nl poQes 15o 0 16ala «lmph mlh s elmtfv Nofuhfy ~ca«nants Ihs Cham An 2011 ths Tn e DO« (alwe«le»et 6Am«mlnpud INN««0 by cl anal slacs»mal Raam «md l mekw asm»bala chances Napw«0 Ihe 4« ls a~Ma «hlhe F~Rapalep Slsuhrs OMfnskh N a» UK wd Ramanc if baled (FRS 1021 |
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| (eksc0»1 Jan uy 20191 | ||||||||||||
| STATUS | ||||||||||||
| Hams Malals Qt» 'Ttust'I wai carats ihac 15Much 2010snc mosteee as ashinty an Tmu oass salso 15Mach 2010 Tha Truu Deed Manas ma ON«u ard M«n d 4 ~ Tnm |
19Apnl 2010. h a ch | dymrna» | pwptnai | pa | sam lo | I | ||||||
| TRUST OSJECTIVQS AND IRSSION | ||||||||||||
| The TtuN'1 dbecbml ss Nates «0» Tme De«l ua Ihl hckf»0 d cauld ad miami |
Man | «el ud w Mdy Ih | «ccn» fN Ihe | P bbc | banaal | fa | ||||||
| ealmndyn latacbdecudp fprnmnmyp«as» Ms |
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| Inmawblheyneccch«l sar»pl nnnbasal has Iheynnleesmwsccmduecseceo lldlhsclaa»CASIÃ11 hooapsamawemsea Ihal Ihay ha aompsae w Ih tha 6 ly lo ham mpe 4 I Iha pubrn sanaSI odana pvashNI by e» chsntyc~ Tl» Tmslb «waa ana scram«wc «ac»lnac Ihmbbas Ihh Treaties' RMM«» a Tmsless boaom Ihsy fvay 4ea«acta Ihallh4 T e e pcdad pe«lot«»fl |
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| TI»fm«am da» Tent «sb cicala» Tflnt4as el |
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| cs sltlp c«INNvlf scum«sap«1 fun adMI cl fr pnlacf Ialp akeeps avdl |
slmcwlaabfy mpm |
flw«sf ofchaav | m»p | n | pcmny | « | ||||||
| sa»hporp caIN! Ssbr 4cas»N aes cfc Ismf ls«ONONO Navel |
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| OROANISARON | ||||||||||||
| The 0 sd Tmmmc nlasll rib rely form» rd«a« Ihe T ~I'\ m IOM cna ee«of act sseaons. save d s e ~ percy as uoa c»0 aralrak pmlre dlhe T~ |
ly «caleb«mid«sr | af Qe lashnb | vwmlme | I | ||||||||
| APPOINMMNT OF TRUSTEES |
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| Tle Tnnleas uh huc acne ennp Ne yaar Mm |
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| Mf De«»So 4 |
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| IM m M Scram | ||||||||||||
| Mr Ikcl»fa Wily | ||||||||||||
| Iw MNNew lkcb | ||||||||||||
| Ml I«y Ct»01 MC 540 Male |
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| Ths Tw cali«icons» accede 1k tied pnt adit»co I buuo par«au MM a»y m ed» ts«lalwls Ihe lsu Ql eI»a as» Trust ona la mw«c, mpfm»mens |
40» arun of I | manabs | sac» | am«sync | I | |||||||
| Th 2 d«» M»mmtrefhlarty aomlbonuaebv~ CO»lop snlanapfa M Thea snoiumelpm p mhc ta sdlhd»ll Taws«elo lc cls2~am m»h ass«uls e m |
hraaneoT«class | latlm | ebn | |||||||||
| Aa Tfue«a Qlm Ihof II hah uul IaTn INO fo s«of4k« as Pad cribs Pand |
| TRUSTEES' REPORT (confinuedj | ||||||||||
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| TRUSTEES' RESPONSIBILITIES | ||||||||||
| Ths Trustees are responwble for pmpsrtng the Truslwls' Repott snd Ihe finanasl statements m ocean!ance wfih appficable law financial |
snd United Kingdom Accounbng | |||||||||
| Standards (United Kingdom Cenerefiy Accepted Accounting Pracbcej. |
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| Chanly law requires Ihe Trustees to prepare finanasl statements kr each yea which give |
s true snd fair wew of Ihe slate ofaffaas of | the Trust snd | of | |||||||
| Ihe incoming resources snd application of rtmources. Indud ng Ihe income snd expenditure, ofIhe |
Trust | for that pertad In preparing |
these financial stelemenls. | |||||||
| Iho Trusi888 8r8 r8qulrod to: | ||||||||||
| Salad sufiable accounting polkies and then apply them conslslengy, concern |
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| Obsmve Ihe methods and prlnaples in the Chanties SORP, |
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| Make judgements snd esbmstes thol are reasonable snd prudent |
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| State whether applkable UK Accounung Standards have been followed. submct |
to any mstenal | deparlurss | dlsdosed | snd | explained | ln Ihe fmsnaal | ||||
| statements, snd |
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| ~ Prepare the fmenasl statements on the going basis unless lt is inspproprtate |
to presume | Ihat Ihe Trust wd continue | in business. | |||||||
| The Trustees ere responsible for keeping proper accounfing wkords thol disdose wfih |
masonable | accuracy st sny time Ihe financial posdon | of the Trust and | |||||||
| enable them to ensure thai the fmandal statements comply mth the relevanl law. They |
ere also responsible for safegu anting Ihe assets of the |
Trust snd hence | ||||||||
| for taking reasonable slaps Ibr Ihe prevention and delecbon offraud and other lrregulalloas |
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| In sofsras Ihe Trustees are swam. | ||||||||||
| There is no relevant informatmn ofwhich the Trust's auditor is unaware. and |
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| The Tnlstees have token 80 steps that they ought lo have token lo make Ihemselves |
aware of any relevant sudfi | informafion | and | lo | eslebfish | Ihat the audfior | ||||
| is aware ofIhal infonnskon | ||||||||||
| The Trustees are responsible for the maintermnco and integnty of the corporate snd |
finanasl nforma5on included on the Trusfs |
websae. Legislakon | in | the | ||||||
| United Kingdom governing the prepsrabon snd dimeavnabon ofthe finsnaal stalem8nt |
nmy differ | born | legals5on | in other Iurlsdiclmns | ||||||
| TRUST ACTMTIES | ||||||||||
| The hund ng Trustees were inspimd by two extnmnlinary people, Fausts pins and Father Tarcisk Moresrhx who |
started me | Help | 8 visage' | projed in central | ||||||
| T8nxanlo | ||||||||||
| This projea pmvldes ewide range of essenfial swvlces lo more than 65vfikgss wuh 8 combined | populafion of 110,000 As well as the endemic poverty |
In | the | |||||||
| region, the early morlsfity rates, caused pdmarily by HIV/AIDS. hss led to a hkih populabon olorphaned |
chfidrsn. | |||||||||
| Sadly mony are inlsaed with the disease from birth. Unbt now financial support toIhe |
Skied hss | been | rsfiant on mhhoc don |
aliens | ||||||
| The pnmary missmn ofHakuna Motels is lo develop long lerm linandal support for their pmjaa. |
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| Toad Ibis. the Trust entered in lo8 15-year grani agreement in odober 2010where ii has commuted |
lo prowde | 510,000 per month | The grani agreement | w | ||||||
| expected to extend beyond 2025 for at least another 5 years. The Trust will endeavour | lo donate at least 8 Ihinl of | sll monies | collected | through | donabons. | The | ||||
| remaining funds are invested to ensum ongoing finances for the work oflhs 'Help 8Village project snd |
other cherfiable causes, | |||||||||
| RESERVES POLICY | ||||||||||
| The Trustees are comm Sed lo applying the Trust's resoumm in a responsible manner |
for Ihe purposes | ofyielding | maximum | beneR | ||||||
| To achwve this. Ihe Trustees implemented a simple slrategy of inveshng monies into 8 highly |
liquid | portfolio, | wdh generated income used lo meet |
grant | ||||||
| expenditure whilst preseMng Ole capfial bose. |
| TRUSTEES' REPORT (confrnuedj | |||||||||||||||
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| RESERVES POLICY (continued j | |||||||||||||||
| Restncled Fund | |||||||||||||||
| Restncteo lands are generated when Ihe donor |
stipulates how their donation may |
be spent | In most cases, there | vnfi be a | lime lag between | when s | ch funds | ||||||||
| are received and when they sre expensed. The Trustees ensure that these funds ais expensed |
in accordance | vnlh the | terms | under | which | they have been | |||||||||
| donated to the Trust |
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| ounng the period no monies were donated which |
had reslrlcsons on how Ihe donaeons could |
be spent | |||||||||||||
| Expendable Endowment |
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| Based on the Trustees' assessmenl of Ihe Trusfs aims. Ihe Tmstees wiil cultivate |
the endowment fund to a level |
that provides | a mature | asset | base capable of | ||||||||||
| producing a level of Income that can sustain the Trusfs annual grantvnakng |
programmes | on | an indefinite | bans and |
at a | conswlenl, | susta nable | level | |||||||
| regardless of any signdmanldrop n income Tile |
ruslees have the powers to convert any reqwred | emountof the |
endowment | from | time | to time | nlo en ncoma | ||||||||
| wh ch can then be ualised by the Trust lo further |
ts chantable obiects in the future | ||||||||||||||
| Operaeonsi Reserves |
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| Cash fiow proiections fo ncome and expenditure |
are regularly reviewed by the Trustees to ensure |
that Ihe level | of deposable | net | assets | ts adequate | and | that | |||||||
| lhe Trust w in a position to meet sfi ils grant-malung and working capnal commitments for the |
foreseeable future |
In the event | that | Ihe Trustees | find themselves | ||||||||||
| unable to meet the Trust'1 comm lments from reserves of Unrestncled Funds al |
Iheir 0sposel, they mil, draw on the Expendable Endowment |
lo meet those | |||||||||||||
| comm tmants as necesssM | |||||||||||||||
| Tha reserves policy m reviewed annually lo reassess the nsks and refied sny changes lo the |
Trust's Income, capital, finarioal obagal one and |
long term plans | |||||||||||||
| for chantabie expenditure |
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| RISK STATEMENT | |||||||||||||||
| The Trustees are responable for the management of the nsks faced by the Trust and have |
examined Ihe major |
slraleg c, | buaness and operational |
'sks to | |||||||||||
| which Ihe Trusi s and may be exposed They are sslagml that the systems and |
controls are in place to m ligate and manage exposu |
e to | such malar | nsks | |||||||||||
| denbfied by the Trustees They conbriue to re |
e current procemes recognising |
Ihal systems can only prov rle |
reasonable | but | nol absolute | assurance | that | ||||||||
| mapr nsks have been adequately managed. |
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| GRANTING POLICY |
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| The Trust pnmanly in eels in and engages with |
panners who support Ihe Help a |
vieage' proiect | The 'Help a vifiage pnmanly |
concentrates | its efforts in | the | |||||||||
| Innga a ea of cannel Tanzan a, h ch meets Ihe |
Trust's obledives In addition. Ihe Trust may |
consider other ad.hoc grants. | |||||||||||||
| INVESTMENT POLICY | |||||||||||||||
| Tha n calmant policy ofthe Trust is lo ma nta n |
an approach that recogn ses the |
requirement | for ncome lo meal | Ihe comm tmenl | prowded by |
the Trust Il | |||||||||
| finenoaay support the 'Help a vibsge" proiect for st least Ihe next 2 years with Ihe |
deere fo cap tat | growth and the uealion | ofan | Expendable | Endo | ment | while | ||||||||
| safeguarding funds for future grantmtsk ng cepecdy Therefo e the Trust's rivestments sre managed to ensure that both long |
temi comm tmenls and | short | |||||||||||||
| term cash requirements can be mel. |
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| The Trustees remain m ndful ol their duly to review snd mon tor regularly the management |
of the Trusfs investments |
The Trustees | are | satisfied | wah | ths | |||||||||
| cunant nvestmenls and their allocation. |
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| FINANCIAL REVIEW |
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| Curing Ihe year to 31 March 2023, the Trust |
made excellent progress on Its |
pnmary obiecbve |
of financisgy | supporting | the | 'Help | s Village" proter | (the | |||||||
| 'project' ) | |||||||||||||||
| Tha Trusfs monthly 510.000 and adddmnal ad-hoc contnbulions lo local self-susta nable protects region's economy and mproving children's fulu e pmspertly. Mt 1st pio d ng continuous support to |
are directed sl creat ng a long temi the heslthcare and education needs |
positive legacy on Ihe ofTsnzsn a'syoungest |
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| and pooresl | |||||||||||||||
| Belo is a bnef descnption of the ongmng efforts end latesl achievements |
| Eay» Mbla | |||||||
|---|---|---|---|---|---|---|---|
| llano»cled | EmleumMt | Ye | dod 11march | Yoa ended 31N»ch | |||
| Nolo | Panda | ps»I | 1M1 | Hill | |||
| 1 | t | 5 | 2 | ||||
| lfla4fle | |||||||
| O»relate»UI uy»es | 311101 | 311,207 | I053,325 | ||||
| OMb «4 | 2 | 133.074 | |||||
| Taut bean» | 1.151733 | ||||||
| EMOMOu Cfeu d 14uhfp lf»ds ~IMn»fl ffff»4FUI14hl cn»l |
I~f | F21 | (t,0t4) | ||||
| EspNUN»I 4ncmfublfl MMM OKlewl ch»flea 0 or»M»ames Co» IOOIMI fMHhy |
~ ~ |
127~IOI ~2I090 ~745 515 |
TBNI0) | (2t,ryl) | |||
| Taint mpmd hum | ~745sle | ||||||
| (Leal»pydhe 4u IIWMNIIOIIN |
4 | (35907) | [35.9SI ) | (»1,370) | |||
| Not IncemlnE taco»ceo IwbM tr»»fee | (340230) | 1340.230) | 750.MO | ||||
| YMUIM Ielu»h fern» | 3ME30 | (340.230) | |||||
| Not a erenenle In h n de |
(340,1NE | (3M2W) | 750,940 | ||||
| Telalun4O Ieauyhthue»4 | 1.123,752 | 3223,762 | 2472912 | ||||
| Tour lun4O ceded f | 2.90.522 | 1.M3 522 | 3123,752 |
| 1011I | |||
|---|---|---|---|
| Ccah Seal fiant apNstlsa aclmhhsl NM orna ptovlmd Of INNMQNQ Nclvhho |
Iall | ||
| cath omm hem IONNO cdacomlhm | |||
| ptocoem IVNI mh dsnocnmnl | al Ial | Ohtpfl | |
| Pamtmo of Nm cmh INNI al 0NMO ltd ecdvtthl |
HQ 101 | I 010100 Isl 010 |
|
| chamo N orna sna caen apmmemo N mo teponap panoa |
~QC.110 | ||
| C&lNle cmh OONNONM MON IQalmtQ da |
ponltQ pmml | 10C33 | |
| c h mo coanslpdvNNOO el fhoand ofIho Npolasp amtod |
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023 | |||||
|---|---|---|---|---|---|
| 1. ACCOUNTING POLICIES |
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| ~) Statement ofCompliance |
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| The financml slalemenls have been prepared in accordance vnlh Acamnbng and Reporbng by Chanbes. Slstsmenl of Recommended Pradice |
applicable | to | |||
| chsrmes preparing Ihmr eawunls in stcordance vnlh the Financial Reporbng Standard applicable in the UK and Republir, uf Ireland FFRS 102') (effectwe I |
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| January 2010)-(Charibes SORP (FRS 102)),Ihe Finandsl Reporting Slsndanl spplweble in the UK and Republic ofIreland (FRS 102) |
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| The Trust meets Ihe definibon ofa public benefil enbly under FRS 102.The assets snd lmbaibes are iniuelly recognised | at historical cost or tran | ssdion | value | ||
| unless otherwise stated in the relevant accounting policy nolo. |
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| b) Accoundng policies |
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| The pnndpal accounbng polides applied in the preparation ofthese gnandal statements are set out below. These pokies |
have been consistently | applied | lo all | ||
| the years presented, unless otherwise slated |
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| c) Critical accounting esllmales and)udllements fn applyfnll accounting pollclos |
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| The Trust makes esbmates snd assumpgons Ihat affect the reported amounts ofassets snd gsbiliges mlhin the dna ndal |
permd Actual results may differ |
from | |||
| those estlmales. Estimates are continually evaluated and based on hlslormal experience snd other factors. Indudlng expedatlons of futuro events that |
sre | ||||
| believed to be reasonable under the circumstances. The key assumptions are explained in lhe respeahre accoungng policy notes below. |
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| d) Incoming resources |
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| All incoming msourms are mduded in the respsckve line llama of the Statement of Fmanasl Acmnkes when the Trust Is |
legaay entitled to Ihe income and | the | |||
| amount can be quanhfied with reasonable certainly. |
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| Interest Income and expense Isrecognised In the Statement of Finandal Adivlges on an efledive Interest rate bess. Oivklend income snd expenses, when |
the | ||||
| undmlying securily is held diredly by Ihe Trusl, ls nwognised in the Slalenwnl of Financml Adivdes on sn ex dividend basis. gross of foreign vnlhholding |
Isxes | ||||
| when rmwivable. Ygahholding lsx is recorded on an accruals basis. |
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| 4) Resources expiihdml |
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| Resources expanded ers accounted for on sn ecauals basis. Constructive obligations (induding grants payable) are accounted for as Iisb1iues where |
il w | ||||
| probable that Ihere will be a Irsnsfer ofeconomm benegts snd Ihe amount ofthe obligation can be reliably estimated snd |
communicated lo the recipient. |
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| Gmnts which Ihe charity has comm lied to papng bul have Ihe right tocancel ers nol recognised es lisbiligss. |
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| f) Governance Costs |
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| Governance costs sre those mals Incuned in the mmplience with constitutional and staMory requirements induding |
related prolsssionsl |
fees. and | ere | ||
| accounted for on sn actuate basis These costs are included under Ihe heading charitable acbwtles, end are allocated based on Ihe costs ofgrangng. |
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| g) Financial annals and liabilities held for trading |
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| Classigcallorl | |||||
| The Trust dassillss xs investments in debt scourges (other than Ihose dssslfled as loans and receivables), and equity |
securities ss financial | assets | el | fair | |
| value Ihrough Ihe Statemenl of Finandal Activities. These gnancisl assels are dassded as held for trading. Finandsl |
assets held for Irading |
ars acquired | |||
| pnnapslly for Ihe purpose ofselling in the short term |
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| Recognrbonldevemgndwn | |||||
| Pumha ass snd sales ofinvestments ars recognised on their trade dale, which is the dale on which the Trust comm ts to purchase or sall Ihs asset |
Investments | ||||
| aiu inanity recogniaxl at fair value and transadlon costs for such investments are expensed ss incurred. Investments |
ere de-recognised when |
Ihs rights to | |||
| receive cash flows from the investments hove expired orIhe Trust has transferred substantially all risks and rewards ofownership. |