Company Registration Number 7033475 Masiphumelele Trust Ltd A Company Limited by Guarantee Financial Statements 31 December 2020 Charity Number 1137358 1 ## **MASIPHUMELE TRUST LTD COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT** **CONTENTS PAGE** Trustees Annual Report 3-5 Independent Examiner’s Report to the Members 6-7 Income and Expenditure Accounts 8 Balance Sheet 9 Notes to the Financial Statement 10 -11 2 ## **MASIPHUMELELE TRUST LTD COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2020** The Trustees who are also Directors for the purposes of Company Law, have pleasure in presenting their Report and unaudited financial statements of the Charity for the year ended 31st December 2020. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered charity name** Masiphumelele Trust Ltd. **Charity registration number** 1137358 **Company registration number** 7033475 **Principal Office** Wheel House, Moor Park, Beckwithshaw HG3 1QN ## **THE TRUSTEES** Mrs. S. Dodson (Chairman) Mrs S. de Vaux (Company Secretary) Mr. A. Hamilton-Smith Mr A. McKelvey Ms. J. Musgrave Ms A. Bullock Mr C. Littmoden ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** The Charity is governed by the Articles of Association incorporated 29[th] Sept. 2009. ## **Appointment/Training of Trustees and Directors** Mr Chris Littmoden was appointed as a Trustee from 1 January 2020. Appropriate induction and training take place for new and existing Trustees. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives** The charity’s objective is to provide a range of educational opportunities mainly for children and young people living in Masiphumelele, a very deprived township in South Africa, by funding specific projects which provide staff, facilities and equipment. The range of projects include education, arts, sports programmes and facilities for children, young people and adults living in Masiphumelele totalling over 40,000 disadvantaged residents outside Cape Town, South Africa. Funds are raised in the UK and sent to South Africa where they are spent at the direction of the UK Trustees. 3 ## **Activities** The activity of this UK charity is to raise funds for specific projects for the benefit of the people of Masiphumelele. There are no employees and the Charity operates with a Board of Trustees. ## **Public Benefit** No public benefit arises in the UK. All the benefit arises in South Africa by virtue of education and affiliated projects as the Trustees consider that this provides the best route out of poverty for the people living in Masiphumelele. ## **ACHIEVEMENTS AND PERFORMANCE** 2020 was a challenging year for Masicorp both in South Africa and for the UK charity due to the effect of the global Covid-19 pandemic. The UK Trustees were acutely aware of the impact of the pandemic on the children and people of Masiphumelele. Education is the key objective of the charity, and the pandemic caused a cessation to many of the essential programme within creches, schools and the Computer Literacy Centre. The charity raised nearly £20,000 in support of the Covid-19 project in South Africa which funded a range of support, including food and hygiene relief and discretionary items. It was reassuring that by the end of the year the lockdown in South Africa had eased and creches and schools had reopened. The Trustees anticipated the fall in annual income due to the pressure on all charitable giving during the pandemic and were very grateful for the donations received during the year. All of the charity’s donations, income and costs are registered with and managed by a nominated Trustee, fulfilling the role of Treasurer. A reconciliation with the U.K. bank account is carried out monthly and a quarterly analysis is submitted to a formal meeting of the Board of Trustees, in order to review achievement and evaluate performance. Transfers to our South African account require the joint authorisation of the Chairman and another Trustee Director. Restricted funds are directed to designated programmes. The Board of Trustees decides to which projects unrestricted funds are to be allocated and the leaders of such projects are required to report back on progress and results to the Trustees on a regular basis and donors as appropriate. Three of the UK Trustees also sit (via Skype conferencing as required) on the Board of Masicorp South Africa. The Managing Director of the South African charity is invited to join meetings of the Board of Trustees via video-conferencing to provide feedback and answer questions. Trustees of the UK board plan to annually visit the Masiphumelele township and meet with the members of the Masicorp South Africa team to obtain oversight of the use of the funds sent by the UK trust to South Africa and obtain assurance on progress of specific projects. Due to Covid-19 restrictions the number of visits were curtailed. ## **FINANCIAL REVIEW** All funds raised, less expenses, in the UK are sent to South Africa. Expenses in the UK were modest amounting to £4813: less than 7% of income. 4 The charity has no fixed assets, no liabilities and no borrowings. Funds are paid to South Africa following a meeting of the Trustees, which convenes 4 times each year. During the year it was decided to transfer £121 from restricted funds to non-restricted funds due to the termination of the said, time limited project _**.**_ Signed on behalf of the trustees on 3 September 2021 **Sandra Dodson** Chairman 5 ## **COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS YEAR ENDED 31 DECEMBER 2020** I report to the accounts of the company for the year ended 31 December 20 which are set out on pages 8 to 11. ## **Respective responsibilities of Trustees and Examiner** The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (The 2011 Act), and that an independent examination is needed. The charity’s gross income did not exceed £250,000. I am qualified to undertake the examination. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - Examine the accounts under Section 145 of the 2011 Act - Follow the procedures laid down in the General Directions given by the Charity Commission - under Section 145(5)(b) of the 2011 Act - State whether particular matters have come to my attention. ## **Basis of Independent Examiner’s Report** My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently No opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **INDEPENDENT EXAMINER’S STATEMENT** In connection with my examination, no matter has come to my attention: 1. Which gives me reasonable cause to believe that in any material respect the requirements: - To keep accounting records in accordance with Section 386 of the Companies Act 2006 • To prepare accounts which accord with the accounting records, comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting Reporting by Charities have not been met; or 2. To which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 6 ## **Derrick Alan Nicholson** Rose Cottage 35 Rossett Green Lane Harrogate HG2 9LQ ## **Qualifications of Independent Examiner** A retired Chartered Accountant, formerly Finance Director of a private company and formerly senior Non-Executive Director and Chairman of the Audit Committee of a public company in the information technology sector. 7 ## **MASIPHUMELELE TRUST LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND EXPENDITURE ACCOUNT** ## **YEAR ENDED 31 DECEMBER 2020** ||||**total**|**Total**| |---|---|---|---|---| ||**Unrestricted**|**Restricted**|**2020**|**2019**| |voluntary income|17155|53098|70253|184057| |Resources expended||||| |Cost of generatng income|4030|||1842| |Governance|783|||219| |Total costs|4813||4813|2061| |**net incoming resources**|12342|53098|65440|181996| |funds brought forward|5321|4811|10132|29373| |Disbursements to Masi||||| |South Africa|-13883|-54847|-68730|-201237| |transfers between funds|121|-121|0|| |**total funds carried**||||| |**forward**|3901|2941|6842|10132| 8 ## **MASIPHUMELELE TRUST LTD COMPANY LIMITED BY GUARANTEE BALANCE SHEET 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| |Cash at Bank|4272|7572| |Paypal||| |Account|2570|2560| |Total Net||| |Assets|6842|10132| |Funds||| |Restricted|2941|4811| |Unrestricted|3901|5321| |Total|6842|10132| 9 For the year ending 31 December 2019 the company was entitled to exemption from audit under the Companies Act 2006 relating to small companies. The Trustees responsibilities: The members have not required the company to obtain an audit of the accounts for the year in question Under section 477, in accordance with section 476. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with the Financial Reporting Standard for smaller entities (effective April 2008). These financial statements were approved by the members of the Board and authorised for issue on the 3 September 2021 and are signed on their behalf by Mrs Sandra Dodson Mrs Susan de Vaux Chairman Company Secretary Company Registration Number 7033475 10 ## **MASIPHUMELELE TRUST LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENT YEAR ENDED 31 DECEMBER 2020** |**Restricted funds**|**Balance**|**incoming**|**transfers**|**transfers**|**paid to**|**Balance**| |---|---|---|---|---|---|---| ||**31/12/19**|**resources**|**to**|**between**|**South Africa**|**31/12/2020**| ||||**unrestricted**|**funds**||| |Early Child Development|2010|30||-2000||40| |English please||1050|||950|100| |Covid 19||19918|||19770|148| |Masi750|2733|13700|||15800|633| |Masi Educare||12300|||12300|0| |Fire fund||1040||||1040| |Computer Literacy||||||| |Support||2325|||2000|325| |Secondary Educaton||400||||400| |Chasmay ECD||||2000|2000|0| |Friends of Masi||825|||665|160| |Gif of sight|68|320|-121||267|0| |Other projects||1190|||1095|95| |**Total**|**4811**|**53098**|**-121**|**0**|**54847**|**2941**| 11