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← Zamcog

2023-12-31-accounts

Charity registration number 1136086

Company registration number 07184854 (England and Wales)

ZAMCOG

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

ZAMCOG

CONTENTS

Page
The Trustee's Report report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8 - 9
Notes to the financial statements 10 - 16

ZAMCOG

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees T Farquhar-Beck
L Healy
H Rana
J Uggla
Secretary T Farquhar-Beck
Charity number 1136086
Company number 07184854
Registered office 20 Jasmine Way
Locking Castle
Weston-Super-Mare
Somerset
BS24 7JW
Independent examiner Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX

ZAMCOG

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

1, The prevention and relief of poverty in Zambia.

  1. The advancement of education for persons under twenty five years of age in Zambia, in particular, but without limitation, by the provision of educational facilities, training and other 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 2011 to have due regard for the Charity Commission's general guidance for the public benefit.

As a dedicated non profit organization, Zamcog is committed to creating educational opportunities for all children in Zambia. Our education charity focuses on providing resources, infrastructure, and support to ensure that every child, has access to quality education. Through our various educational programs, we are working tirelessly to remove the barriers that prevent the more vulnerable from attending school and succeeding academically. Zamcog is committed to empowering the most at risk children and work with local community partners to breakdown barriers and increase access to learning

From 1 January 2023 onwards, Zamcog will raise funds for Zamcog Zambia to undertake similar activities in progressing children education in Kabwe, Zambia as part of the charity’s objectives. Majority of the activities have transitioned from Lubuto Child Care Centre (LCCC) to Zamcog Zambia.

ZAMCOG

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Income received in the year was £263,679 (£259,751 in 2022) being £179,771 for Unrestricted Funds and £83,908 for Restricted Funds (£137,301 and £122,450 respectively in 2022).

Zamcog is currently sponsoring 402 students, with 186 in primary education and 216 in secondary education. During the period, these students received books, pens, shoes, bags and uniforms on a needs basis.

Zamcog is also providing transitional housing, which were designed to provide safe housing to the recently graduated Zamcog students waiting to go to university, college or skills training. Zamcog in partnership with Brothers of Sacred heart have two transitional houses, one for females and one for males comprising of 5 females and 5 males.

A career, guidance and counselling activity for these tenants was conducted to help get an understanding of what they want to pursue before their further education journey. All the tenants got accepted into various institutions of learn for the 2024 academic year

These tenants are students who conduct the Saturday school program for the children every week with an average of 120 plus children from Makulu in attendance. The children are taught various subjects, such as hygiene, keeping the environment clean and taught how to read and write.

In line with the Saturday program, a Tuesday and Thursday program was introduced to help those that have never been to school so as to put them under Zamcog sponsorship for 2024. So far 15 children were chosen based on their willingness and improvement during the program.

The Zamcog Child Care Facility houses 32 students in In luangwa town ship. The students are provided with accommodation, food and clothing and welfare services.

The sports academy is now operational allowing the children to participate in recreational activities and participate in the local games.

In 2023, a total of £322,312 (£258,185 in 2022) was disbursed in support of Zamcog Zambia and in total £168,485 of Unrestricted Funds and £153,827 of Restricted Funds.

We thank all our donors for their kindness and generosity.

Financial review

In the financial year 1 January 2023 to 31 December 2023, the charity received income of £263,679 (2022: £259,751) and total expenditure was £322,312 (2022: £258,185). For the year ended 31 December 2023 the charity had received net expenditure on Unrestricted Funds of £11,286, which increased the carried forward sum to £98,208 (2022: £86,922).

Restricted Funds are £14,136 at 31 December 2023 (2022: £84,055) 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 six months' operational expenses to support the current services. This policy has been reviewed in light of our agreement for funding from the Leif Wåhlin Foundation.

Plans for future periods

We will continue our care home service for students shelter and support; whilst also providing support to students in transition houses (from secondary to tertiary)

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

ZAMCOG

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

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

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

T Farquhar-Beck

L Healy H Rana J Uggla B Elgood (Resigned 10 December 2023)

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.

ZAMCOG

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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

Bankers

HSBC 31 Cheque St St Albans, Hertfordshire AL1 3YN

Registered office

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

Company Secretary

Ms T Farquhar-Beck

Independent Examiner

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

ZAMCOG

THE TRUSTEE'S REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

This report has been prepared in accordance with the special provisions of Part

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The The trustee's report report was approved by the Board of Trustees.

J Uggla

10 September 2024

ZAMCOG

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ZAMCOG

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

I report to the Trustees on my examination of the financial statements of Zamcog for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 .

Having satisfied myself that the financial statements of the 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 the ’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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 that in any material respect:

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 financial statements to be reached.

Robert Bean BA ACA ICAEW Grunberg & Co Limited Chartered Accountants

5 Technology Park Colindeep Lane Colindale London NW9 6BX

Dated: 11 September 2024

ZAMCOG

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
179,704
83,908
Charitable activities
Investments
3
67
-
Total income
179,771
83,908
Expenditure on:
Raising funds
4
-
-
Charitable activities
Education, homes and
feeding programmes
5
168,485
153,827
Total charitable expenditure
168,485
153,827
Total expenditure
168,485
153,827
Net income/(expenditure) for
the year/
Net movement in funds
11,286
(69,919)
Fund balances at 1 January
2023
86,922
84,055
Fund balances at 31
December 2023
98,208
14,136		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
263,612
137,212
122,450
67
89
-
263,679
137,301
122,450
-
676
-
322,312
165,918
92,267
322,312
165,918
92,267
322,312
166,594
92,267
(58,633)
(29,293)
30,183
170,977
116,215
53,872
112,344
86,922
84,055		 Total
2022
£
259,662
89
259,751
676
258,185
258,185
258,861
890
170,087
170,977

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

ZAMCOG

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
Other creditors
12
Net current assets
Income funds
Restricted funds
Unrestricted funds		 2023
£
-
115,344
115,344
3,000		 £
112,344
14,136
98,208
112,344		 2022
£
249
173,728
173,977
3,000		 £
170,977
84,055
86,922
170,977

ZAMCOG

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2023

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for:

a) complying with the requirements of the Companies Act 2006, Sections 386 and 387, with respect to accounting records and the preparation of financial statements.

b) preparing financial statements which give a true and fair view of the state of the affairs of the charitable company at the end of each financial year. And of its surplus or deficit for each financial year, in accordance the the requirements of Sections 394 and 395 of the Companies Act 2006, relating to financial statements, so far as applicable to the charitable company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 10 September 2024

H Rana J Uggla Trustee Trustee

Company registration number 07184854

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Zamcog is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1 Basis of preparing the financial statement

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

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

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose and use of the restricted funds are set out in the notes to the financial statements.

1.3 Income

Income is recognised when the charity is legally entitled to it, after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant are recognised at the time of the donation.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.6 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Exchange differences are taken into account in arriving at the operating result.

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

2 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts 179,704 83,908 263,612 137,212 122,450 259,662

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

3
4
5		 Investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
67
89
Raising funds
Total
Unrestricted
funds
2023
2022
£
£
Fundraising and publicity
Other fundraising costs
-
676
-
676
Charitable activities
Education,
homes and
feeding
programmes
Education,
homes and
feeding
programmes
2023
2022
£
£
Grant funding of activities (see note 6)
312,337
264,299
Share of support costs (see note 7)
5,816
(9,497)
Share of governance costs (see note 7)
4,159
3,383
322,312
258,185
Analysis by fund
Unrestricted funds
168,485
165,918
Restricted funds
153,827
92,267
322,312
258,185

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Grants payable

Education, Education,
homes and homes and
feeding feeding
programmes programmes
2023 2022
£ £
Grants to institutions:
Other 312,337 264,299

7 Support costs

Support costs
Governance
costs
£
£
Exchange Losses/(gains)
4,439
-
Bank charges
856
-
Computer comsumables
521
-
Accountancy
-
469
Independent examination
-
3,690
5,816
4,159
Analysed between
Charitable activities
5,816
4,159		 2023 Support costs
Governance
costs
£
£
£
4,439
(10,574)
-
856
808
-
521
269
-
469
-
-
3,690
-
3,383
9,975
(9,497)
3,383
9,975
(9,497)
3,383		 2022
£
(10,574)
808
269
-
3,383
(6,114)
(6,114)

Governance costs includes payments to the independent examiner of £3,690 (2022: £3,383) for independent examination fees.

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits during the year, nor for the year ended 31 December 2022.

9 Employees

2023 2022
Number Number
Total - -

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Employees

(Continued)

There were no employees in the entity during the year under review, nor for the earlier year.

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Debtors

Debtors
Amounts falling due within one year:
Other debtors
During the year no impairments have been made against any class of debtor.
Other creditors falling due within one year
Accruals and deferred income		 2023
£
-
2023
£
3,000		 2022
£
249
2022
£
3,000

12 Other creditors falling due within one year

13 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
December 2023 are
represented by:
Current assets/(liabilities)
98,208
14,136
98,208
14,136		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
112,344
86,920
84,057
112,344
86,920
84,057		 Total
2022
£
170,977
170,977

14 Related party transactions

There were no related party transactions for the year under review (2022- none).

ZAMCOG

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 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.

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Tue, 17 Sep 2024 08:27:47 GMT Approved

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Tracey Farquhar-Beck Approved Tue, 17 Sep 2024 09:25:29 GMT

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