ITHEMBA HOPE TRUST
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REPORT & ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
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ITHEMBA HOPE TRUST
FOR THE YEAR ENDED 30 SEPTEMBER 2020
LEGAL & ADMINISTRATIVE DETAILS
ADDRESS FOR CORRESPONDENCE 17 Elsenham Street London, SW18 5NU
GOVERNING DOCUMENT
Declaration of Trust dated 24 September 2010 Registered charity number 1137911
TRUSTEES C Tydeman A Watt K Bullough J Ogunseitan BANKERS HSBC plc
INDEPENDENT EXAMINER
Charles Tait Accounting Limited Highbury, 74 Woodside Road, Amersham,
INDEX
Page 2 Legal & Administrative Details Pages 3-5 Trustees' Report Page 6 Independent Examiner's Report Page 7 Receipts and Payments Account Page 8 Statement of Assets & Liabilities Page 9 Notes to the Accounts
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ITHEMBA HOPE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2020
The Trustees have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
iThemba is a Christian organisation. Its objectivess are designed to support the community, churches and people within the regions it operates. These objectives are as follows:
1) To advance the education of people in Africa, in particular those living in Sweetwaters, South Africa (the area of benefit), through the provision of educational facilities and materials and the provision of grants to other charities or organisations working to advance the education of people living in the area of benefit.
2) To act as a resource for children and young people living in the area of benefit by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:
a. advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
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b. advancing education;
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c. relieving unemployment;
d. providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
3) Such charitable purposes for the benefit of people living in the area of benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine.
Government
Structure, Governance and Management
During the past 3 years iThemba Hope Trust has registered as a Trust and as a charity limited by guarantee. The charity was registered on 31st August 2010.
The Trustees are still in the process of firming up the trusts internal governance policies. These will be a key focus in the coming financial year.
Governing Document
The charity is governed by the Memorandum and Articles of Association. Taken together these documents set out the formal structure and organisation of the Charity, how it generally manages its affairs and how it will comply with the requirements of the Companies Act 1985 as a company limited by guarantee.
Review of Activities
In this period, Ithemba Hope Trust UK funded a number of projects that demonstrated its principles of Christian faith supporting local communities including mentoring, running clubs, teen camps and early childhood education programmes. These projects, including building of education establishments have developed the church, and its peoples, relationship with the community and how it demonstrates its commitment to the region of Sweetwater.
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In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission in December 2008.
Financial Review
Income
Donations received for the 2019/20 financial year totalled £27,399 - this was (£5,160) less than in 2018/19 £32,559. The main factors for this decrease were the reduced donations from Individuals (£10,556), Gift Aid (£4,875) and Events (£2,541) - as per Note 2. These reductions were partly offset by the additional income received from Trusts (£14,449).
The reason for the reduction in Gift Aid was due to the fact that no claim was made in 2019/20. There were also no events that took place in 2019/20 which led to no income being raised in this area.
A fundraiser was used by iThemba Projects in South Africa to investigate funding opportunities in the UK for South African projects. This resulted in £14,449 being received from Allan & Nesta Ferguson Charitable Trust. The cost of the fundraiser was about £570 and was covered by the portion of general costs sent as part of the grants to iThemba Projects (see below).
Expenditure
In 2019/20 expenditure decreased slighty by (£1,961) to £29,295 from £31,256 in 2018/19. This was mostly related to grants going from £30,000 to £29,000, while direct costs saw a decrease from £1,256 to £295.
Grants of £29,000 were made to iThemba Projects in Sweetwaters, South Africa, with the majority going to the following projects: Mentoring (£6,542); Food Gardens (£14,105) and Covid-19 (£3,396). Part of the grants (£3,744) was towards general costs.
The Food Gardens project seeks to address both nutritional issues and environmental education of children in Sweetwaters. While the Mentoring project focuses on children mentoring and teenager leadership development. The funds for Covid-19 were, amongst other things, for sustainable nutrition in Sweetwaters due to the issues caused by the pandemic.
The direct costs were mainly for the payment of an independent examination (£210) due to the requirement of the Charitable Commission for all charities earning more than £25,000 in the year. The remainder related to bank charges and for online services.
Trustees' Responsibilities
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
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Approval
This report was approved by the trustees on 21/10/2020 and signed on their behalf by:
AG Watt
---------------------------------Andrew Watt - Treasurer
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ITHEMBA HOPE TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2020
Independent examiner’s report to the trustees of iThemba HopeTrust
I report to the trustees on my examination of the accounts of the iThemba Hope Trust (the Trust) for the year ended 30th September 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records.
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.
Signed:
Name: Charles Tait ACA, Charles Tait Accounting Limited Address: Highbury, 74 Woodside Road, Amersham, Buckinghamshire. HP6 6AN Date 27/10/2020
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ITHEMBA HOPE TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Notes | Unrestricted | Restricted | 2020 | 2019 | |
|---|---|---|---|---|---|
| General | Funds | £ | £ | ||
| Receipts | |||||
| Voluntary receipts | |||||
| Grants and gifts received | 2 | 1,841 | 25,557 | 27,399 | 27,684 |
| Tax refunds under Gift Aid | - | - | 4,875 | ||
| Other receipts | 1,841 | 25,557 | 27,399 | 32,559 | |
| Interest received | - | - | - | - | |
| Other | - | - | - | - | |
| Total Receipts | 1,841 | 25,557 | 27,399 | 32,559 | |
| Payments | |||||
| Payments in furtherance of the church's objectives | |||||
| Direct costs | 3 | 295 | - | 295 | 1,256 |
| Grants paid | 4 | 3,744 | 25,256 | 29,000 | 30,000 |
| Total Payments | 4,039 | 25,256 | 29,295 | 31,256 | |
| Net Receipts/(Payments) | (2,198) | 302 | (1,896) | 1,303 | |
| before transfers | |||||
| Transfers between funds | - | - | - | - | |
| Net Movement in Funds | (2,198) | 302 | (1,896) | 1,303 | |
| Balances at start of year | 3,875 | 1,131 | 5,006 | 3,703 | |
| Balances at 30 September 2020 | 1,677 | 1,433 | 3,110 | 5,006 |
The notes on page 9 form part of these accounts
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ITHEMBA HOPE TRUST
STATEMENT OF ASSETS & LIABILITIES
AS AT 30 SEPTEMBER 2020
1. Bank & Cash Balances
| Held at Bank | 2020 2019 £ £ 3,110 5,006 3,110 5,006 |
|---|---|
2. Other Assets & Liabilities
Assets
Gift aid tax recovery not yet received
(There is about £1,358 outstanding Gift Aid still to be recovered - this is based on the amount of donations from individuals for which the charity has the necessary details)
Liabilities
Unbilled fee for Independent Examination
(An independent examination needs to be completed due to the annual income for 2019/20 being over £25,000 - this will be expected to cost £210 based on the previous year)
The accounts were approved by the trustees and signed on their behalf on 21/10/2020
by
AG Watt
Andrew Watt - Treasurer
The notes on page 9 form part of these accounts
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ITHEMBA HOPE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. Accounting Policies
The accounts have been prepared on a receipts and payments basis with a statement of assets and liabilities.
2. Voluntary receipts
| Source Individuals Gift Aid Churches Trusts & foundations Events 3. Direct costs Support services Bank charges Independent examination Other costs 4. Grants Paid Institutions |
2019 2020 Variance - 19,256 8,700 (10,556) 4,875 - (4,875) 4,000 4,250 250 0 14,449 14,449 4,428 - (4,428) 32,559 27,399 (5,160) General Restricted Total Total Funds Funds 2020 2019 £ £ £ £ 28 - 28 1,187 57 - 57 - 210 - 210 - - - - 69 295 - 295 1,256 3,744 25,256 29,000 30,000 3,744 25,256 29,000 30,000 |
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The grants to institutions were to iThemba Projects (South Africa).
5. Trustees
No amounts were paid or are payable to any trustee or to any person connected to them.
6. Movement of Restricted Funds
| 6. Movement of Restricted Funds Project Funds Children mentoring and teenager leadership Food gardens Kid's camp Christmas Hamper Covid-19 Community Centre |
Balance at Balance at Oct 2019 Receipts Payments Transfers Sept 2020 £ £ £ £ £ 432 6,885 (6,542) 775 1614,156 (14,105) 67 375480 (855) - -50 (50) - -3,936 (3,396) 541 30850 (308) 50 1,13125,557 (25,256) -1,433 |
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