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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 07184854 (England and Wales) REGISTERED CHARITY NUMBER: 1136086

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2020

for Zamcog

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

Zamcog

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 to 13

Zamcog (Registered number: 07184854)

Report of the Trustees for the Year Ended 31 December 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. 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

The Charity's objectives are:

(1) the prevention and relief of poverty in Zambia and

(2) the advancement of education of persons under twenty-five years of age in Zambia, in particular but without limitation by the provision of educational facilities and activities.

ZAMCOG's objectives are set in accord with our charitable objects. Each year the trustees evaluate our objectives and activities to ensure that they reflect our charitable object. In setting the charity's objectives and planning its activities the trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard for the Charity Commission's general guidance for the public benefit.

As part of the charity's objectives, the main activity has been to raise funds for the Lubuto Child Care Centre (LCCC) which has the same aims and objectives as ourselves.

During the year the core programmes have been funding children at primary and secondary schools, provide shelter and living for those most in need, give food for those not in our homes, support some students in their gap year with accommodation and provide sponsored funds for those in tertiary education .

Page 1

Zamcog (Registered number: 07184854)

Report of the Trustees for the Year Ended 31 December 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Income received in the year was £239,514 (£312,216 in 2019) being £143,222 for Unrestricted Funds and £96,292 for Restricted Funds (£184,336 and £127,880 respectively in 2019).

The trustees are very grateful to all donors, both individual and organizational, without whom ZAMCOG's continued support of orphaned and vulnerable children in Kabwe, Zambia would not be possible. We wish to thank the Leif Wåhlin Foundation. from Sweden for their very generous support in the year and an anonymous donor to help those who have left our education programme to start business and have sustainable living.

In 2020, a total of £199,180 (£254,466 in 2019) was disbursed in support of Lubuto Child Care Centre and corporate governance costs utilising in total £111,630 of Unrestricted Funds and £87,550 of Restricted Funds.

Our work in the Kabwe area continued successfully in 2020 although like the rest of the world the covid 19 pandemic had some restrictions.

Education - pupils financially supported at schools rose from 259 to 301 with 157 boys and 144 girls in the programme. Schools were suspended at the end of the first term in March. Those students sitting exams in grades 7,9 and 12 returned to school in July and sat their exams in December. Students not in exam years returned to schools in September for the second term only and finished in early December. The next school year starts on 18 January.

Care homes - 16 boys and 16 girls were in the homes during the year. Some students returned to their homes from April through August. Graduates previously sponsored through Zamcog assisted in providing education to those in the homes through out the year.

In the food program a further 25 pupils and their families were added to the program. This was due to the kind donation from the Souter Family Trust. The number of pupils and their families in the programs at 31 December was 90.

In the two Transition houses students in their gap year moved in there in April - 4 boys and 4 girls. Those students in the houses were permitted to provide Saturday schooling to local children in the Makalulu area..

In the Further Education and Training programs there were 21 new starts taking the number in the programs to 50. We are extremely grateful for all our sponsors in these two programs. Thirteen students completed their courses in 2020 and we will assist them in finding employment where applicable.

Due to universal travel travel restrictions no Trustee visited Zambia in 2020 to review the work being carried out by our associate NGO Lubuto Child Care Centre.

Our major donation in the year was from the Leif Wahlen Foundation who provided the majority of our operational costs in Kabwe and further contributions for the new site and Transition house 3.

Construction on these two sites has been seriously delayed in 2020 but it is hoped to commence site construction in the first quarter of 2021.

Similarly pandemic restrictions limited our fundraising programme for live events but our fundraising team was successful in being awarded grants from Souter Family Trust , Gwynneth Forrester Trust , Didymus and the Pignatelli Foundation. Donations were also received from our regular donors and Mr Armins Rusis. We thank all our donors for their kindness and generosity.

Lastly, in February 2019 we advanced funds to LCCC from a sponsor's entrepreneurship fund. This was to enable previously sponsored students to set up their own businesses. Of the several who applied for grants fifteen were selected. As this scheme started at the start of the Cv19 pandemic there have been successes and one or two failures. Assistance has been given to those in difficulty, and at present further grants are still being made.

The same donor has also provided funds for purchasing land for sustainable living again for those who have benefitted from our educational support in the past . LCCC has presented plans for purchasing land and erecting buildings for occupancy as well as initial stock. To date the Trustees have not yet agreed on the way forward to ensure protection for proper use of the funds. This delay is primarily due to the Trustees being unable to visit Zambia in 2020. It is hoped that this scheme will proceed in 2021.

Page 2

Zamcog (Registered number: 07184854)

Report of the Trustees for the Year Ended 31 December 2020

FINANCIAL REVIEW

Financial position

In the financial year 1 January 2020 to 31 December 2020, the charity received income of £239,514 (2019: £312,216) and total expenditure was £199,180 (2019: £254,466). For the year ended 31 December 2020 the charity had received net income on Unrestricted Funds of £31,594, which increase the carried forward sum to £63,082

(2019:£31,488) to contribute to next year's operating expenditure. Restricted Funds are £98,775 at 31 December 2020 (2019: £90,033) and will be utilised for the restricted purposes for which they were given.

Reserve policy

The trustees' policy in regard to reserves is to hold specific reserves to meet obligations imposed by donors and general reserves equivalent to three months' operational expenses to support and fund the Lubuto Child Care Centre. This policy has been reviewed in light of our agreement for funding from the Leif Wåhlin Foundation.

FUTURE PLANS

Following discussions with Lubuto Child Care Centre and as supported by our Trustees and the Leif Wahlen foundation our financial assistance to children in need of support is expected to increase from 300 children in 2020 to 375 in 2021.

Our care homes will remain with the same number in the homes in 2021.

In the food programme a further 20 children and their families will benefit from the monthly food package provided to them, increasing from the 90 supported families in 2020.

Through the generosity of IHSMarkit a further 24 students are due to commence tertiary education and training in 2021 taking the number in the programmes to 62.

As noted above the pandemic restrictions stopped construction of the new site and transition house 3 , but both should be completed in the year.

Our fundraising team continues to make applications for costs of an early learning centre , an in-house training centre and for operational costs.

At the beginning of 2021 funds have been granted to LCCC in their budget for period products to all girls in the education programme.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The company is controlled by its articles of association and constitutes a private limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

New trustees are appointed by the company's members assembled in the Annual General Meeting. Co-opted trustees may also be appointed by serving trustees for a term of office ending at the next A.G.M.

Information is cascaded to a full trusteeship body in its regular meetings by the Company Secretary.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have in place a risk register, which is reviewed at most Board of Trustees' meetings. The principal risks relate to the need always to maintain effective financial management of the charity's assets and resources for its charitable purposes. To this end, the charity ensures at least one, appropriately qualified trustee, who fulfils on a voluntary basis the role of Treasurer.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07184854 (England and Wales)

Registered Charity number

1136086

Page 3

Zamcog (Registered number: 07184854)

Report of the Trustees for the Year Ended 31 December 2020

Registered office

20 Jasmine Way Locking Castle Weston-Super-Mare Somerset BS24 7JW

Trustees

J A Uggla Ms T Farquhar-Beck Mr L Healy H Rana Ms C Watz (resigned 31.1.2021) C D Kaberry C Westholm-Schroder (appointed 31.1.2021)

Company Secretary

Ms T Farquhar-Beck

Independent Examiner

Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

Bankers

HSBC 31 Chequer St St Albans Hertfordshire AL1 3YN

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of Zamcog for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which gave a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Zamcog (Registered number: 07184854)

Report of the Trustees for the Year Ended 31 December 2020

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 10 May 2021 and signed on its behalf by:

J A Uggla - Trustee

Page 5

Independent Examiner's Report to the Trustees of Zamcog

Independent examiner's report to the trustees of Zamcog ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Robert Bean BA ACA ICAEW Grunberg & Co Limited Chartered Accountants 5 Technology Park Colindeep Lane Colindale London NW9 6BX

11 May 2021

Page 6

Zamcog

Statement of Financial Activities for the Year Ended 31 December 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
143,222
Investment income
2
2
Total
143,224
EXPENDITURE ON
Raising funds
966
Charitable activities
Education, homes and feeding programmes
99,644
Other
11,020
Total
111,630
NET INCOME
31,594
RECONCILIATION OF FUNDS
Total funds brought forward
31,488
TOTAL FUNDS CARRIED FORWARD
63,082		 Restricted
funds
£
96,292
-
96,292
-
87,550
-
87,550
8,742
90,033
98,775		 2020
Total
funds
£
239,514
2
239,516
966
187,194
11,020
199,180
40,336
121,521
161,857		 2019
Total
funds
£
312,216
11
312,227
-
254,466
-
254,466
57,761
63,760
121,521

The notes form part of these financial statements

Page 7

Zamcog (Registered number: 07184854)

Statement of Financial Position 31 December 2020

Notes
CURRENT ASSETS
Debtors
4
Cash at bank
CREDITORS
Amounts falling due within one year
5
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
7
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2020
£
5,625
159,232
164,857
(3,000)
161,857
161,857
161,857
63,082
98,775
161,857		 2019
£
12,155
112,366
124,521
(3,000)
121,521
121,521
121,521
31,488
90,033
121,521

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 May 2021 and were signed on its behalf by:

J A Uggla - Trustee

H Rana - Trustee

The notes form part of these financial statements

Page 8

Zamcog

Notes to the Financial Statements for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There are no material uncertainties regarding the going concern of the charity.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

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 corporation 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

The charity only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other loans to related parties..

Financial assets that are measured at cost are assessed at the end of each financial period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

Debtors

continued...

Page 9

Zamcog

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Financial instruments

Basic financial assets including trade and other debtors are measured at transaction price, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

2. INVESTMENT INCOME

INVESTMENT INCOME
2020 2019
£ £
Deposit account interest 2 11

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
During the year, no impairment provisions have been made against any class
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
fund
£
Current assets
66,082
Current liabilities
(3,000)
63,082		 of debtors.
Restricted
funds
£
98,775
-
98,775		 2020
£
5,625
2020
£
3,000
2020
Total
funds
£
164,857
(3,000)
161,857		 2019
£
12,155
2019
£
3,000
2019
Total
funds
£
124,521
(3,000)		 2019
£
12,155		 2019
£
12,155
2019
£
3,000
121,521

5.

6. ANALYSIS OF NET ASSETS BETWEEN FUNDS

continued...

Page 10

Zamcog

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

7. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Other restricted funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Other restricted funds
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Other restricted funds
TOTAL FUNDS		 At 1.1.20
£
31,488
90,033
121,521
Incoming
resources
£
143,224
96,292
239,516
At 1.1.19
£
15,998
47,762
63,760		 Net
movement
At
in funds
31.12.20
£
£
31,594
63,082
8,742
98,775
40,336
161,857
Resources
Movement
expended
in funds
£
£
(111,630)
31,594
(87,550)
8,742
(199,180)
40,336
Net
movement
At
in funds
31.12.19
£
£
15,490
31,488
42,271
90,033
57,761
121,521		 At
31.12.20
£
63,082
98,775
161,857
40,336
At
31.12.19
£
31,488
90,033
121,521

continued...

Page 11

Zamcog

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

7. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Other restricted funds
TOTAL FUNDS		 Incoming
resources
£
184,347
127,880
312,227		 Resources
Movement
expended
in funds
£
£
(168,857)
15,490
(85,609)
42,271
(254,466)
57,761		 Resources
Movement
expended
in funds
£
£
(168,857)
15,490
(85,609)
42,271
(254,466)
57,761
57,761

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Other restricted funds
TOTAL FUNDS		 At 1.1.19
£
15,998
47,762
63,760		 Net
movement
in funds
£
47,084
51,013
98,097		 At
31.12.20
£
63,082
98,775
161,857

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
Restricted funds
Other restricted funds
TOTAL FUNDS		 Incoming
resources
£
327,571
224,172
551,743		 Resources
Movement
expended
in funds
£
£
(280,487)
47,084
(173,159)
51,013
(453,646)
98,097		 Resources
Movement
expended
in funds
£
£
(280,487)
47,084
(173,159)
51,013
(453,646)
98,097
98,097

continued...

Page 12

Zamcog

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year under review..

9. LIMITED LIABILITY

The company is limited by guarantee, every member promises that if the Charity is dissolved while he or she remains a member, or within twelve months afterwards to contribute up to £1 towards the cost of dissolution of the liabilities incurred by the Charity.

10. FINANCIAL ASSETS & LIABILITIES

2020 2019
£ £
Financial assets measured at amortised cost 164,857 124,520
Financial liabilities measured at amortised cost 3,000 3,000

All financial assets and liabilities are held at amortised cost.

Page 13