|TRUSTEES' REPORT|TRUSTEES' REPORT||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|I«1~aeshma«lhsvraponad«plsafs»«allele
«s
I
Ih maados3IM«h2023|||||||||||||
|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|||||||||||||
|(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|||||||||||||
|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|||||||||||||
|TI»fm«am
da» Tent «sb cicala» Tflnt4as el|||||||||||||
|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|||||||||||||
|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|||||||||||||
|Tle Tnnleas uh
huc acne ennp Ne yaar Mm|||||||||||||
|Mf De«»So
4|||||||||||||
|IM m M Scram|||||||||||||
|Mr Ikcl»fa Wily|||||||||||||
|Iw MNNew lkcb|||||||||||||
|Ml I«y Ct»01
MC 540 Male|||||||||||||
|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|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|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.|||||||||||
|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|||||||||||
|Obsmve
Ihe methods
and prlnaples
in the Chanties SORP,|||||||||||
|Make judgements
snd esbmstes
thol are reasonable
snd prudent|||||||||||
|State whether
applkable
UK Accounung
Standards
have
been
followed.
submct|to any mstenal||deparlurss|dlsdosed|snd|explained||ln Ihe fmsnaal|||
|statements,
snd|||||||||||
|~ 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|||||||||||
|In sofsras Ihe Trustees are swam.|||||||||||
|There is no relevant
informatmn
ofwhich the Trust's auditor is unaware.
and|||||||||||
|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.|||||||||||
|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||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|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||||||||||||||||
|ounng the period no monies were donated
which|had reslrlcsons
on how Ihe donaeons
could||be spent|||||||||||||
|Expendable
Endowment||||||||||||||||
|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||||||||||||||||
|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||||||||||||||||
|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.||||||||||||||||
|GRANTING
POLICY||||||||||||||||
|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.||||||||||||||||
|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.||||||||||||||||
|FINANCIAL
REVIEW||||||||||||||||
|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||||||
|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||||||
|~)
Statement ofCompliance||||||
|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||||||
|January 2010)-(Charibes SORP (FRS 102)),Ihe Finandsl
Reporting
Slsndanl
spplweble
in the UK and Republic ofIreland (FRS 102)||||||
|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.||||||
|b)
Accoundng
policies||||||
|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||||||
|c)
Critical
accounting
esllmales and)udllements
fn applyfnll
accounting
pollclos||||||
|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.||||||
|d)
Incoming resources||||||
|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.||||||
|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.||||||
|4)
Resources expiihdml||||||
|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.|||||
|Gmnts which Ihe charity has comm lied to papng
bul have Ihe right tocancel ers nol recognised es lisbiligss.||||||
|f)
Governance
Costs||||||
|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.||||||
|g)
Financial annals and liabilities
held for trading||||||
|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||||||
|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.||||||
##
##
##
##
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