Charity number: 1141004 HIPPO POOLS TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
HIPPO POOLS TRUST CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report statement of financial activities 8alance sheet Notes to the financial statements 8-12
HIPPO POOLS TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees The Hon Sally Jane Plummer Mr Richard Fox Lowe Ms Victoria Trinetle McHugh Mrs Heather Suzanne Kinqsley-Healh Mrs Tana Tipping Mr David Vladimir Rockingham-Gill Charity reglstered number 1141004 Prlnclpal offlce Hilltop Midford Lane Limpley Stoke Wiltshire BA2 7GR Accountants Bishop Fleming Bath Limited Chartered Accounlanls 10 Temple Back Bristol BS16FL 8ankers National Westminster Bank 24-25 Stall Street Bath BA1 1QF Sollcltors Thrings LLP 2 Queen Square Bath BA12HQ Page 1
HIPPO POOLS TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report together with the financial statements of the Hippo Pools Trust for the year 1 January 2022 to 31 Dember 2022. ANNUAL REPORT OBJECTIVES AND ACTIVITIES OBJECTS AND AIMS Hippo Pools Trust is a community development and wildlife consetwalion non-profit organization. The Trust works with impoverished communities in the Shamva and UMP districts of Zimbabwe. The Trust was sel up by Sally Plummer, who first visited Zimbabwe in 1998 and subsequently sel up Hippo Pools Trust (previously known as the Ambuya Foundation) with the Charities Commission in March 2011. The Trust aims to provide.. sponsorship of education, community healthcare, local school infrastructure, the running of an anti-poaching unit and consetwation courses. This aligns with the promotion of the Trust's motto People and Wildlife Together ACHIEVEMENTS AND PERFORMANCE INFLATION & COMING ELECTIONS Our year in Zimbabwe has been overshadowed by both inflation and next year's parliamentary elections. Zimbabwe has been ranked 'lop' of world inflation, at 2850 above Venezuela, and Sudan. How can this happen in a country with so much natural wealth? A massive gold rush continues, with swathes of Umfurudzi Path being mined illegally by big and small operators, and the Magnifint Mazowe River muddy from panning. A series of films on the smuggling of gold revealed that billions of US dollars-worth of gold was being secretly taken out of Zimbabwe lo Dubai by a few individuals. All along the roule key people would benefit from this, but not the population in general. The parfiamenlary elections will be held in 2023. The rural area where the Trust works is highly polilicised. Everyone has lo express a belief in the ruling ZANU-PF party. Physical harm is threatened to anyone who opposes it. EDUCATION Within this environment, the Wilderness Camp managed lo continue to operate and provide jobs, and our Management team pul major efforts into maintaining the income stream. A particular success has been the School Camp,. word clearfy gol round private schools that this was a great pla for children lo visit. Our sponsored students are working hard to gain qualifications that will get them good jobs. Delight Tomson completed his Hospitality School course with a year in a magnificent hotel in America. Faith Novanani followed the same course and will do a year in the US in 2023. Inspired by our successful first chef, Marlon Mudzora now happily married with a baby daughter Beauty George opted for the Chef course al the Hospitslity School, and Lostsncia Mambozi is expected lo follow her there next year. Being a chef is a tough bul rewarding job and is a very Iransferrable skill across the world. Blessed Simango completed his Electrical Engineering certificate with flying colours and then started a similar course in Solar Engineering. Garikai Makore is working temporarily as a translatorlsupetvisor at a Chinese Lithium mining start-up near Harare. Next year he will come lo the UK to take a Masters Degree in Accounting & Finance,. his education was disrupted by Covid, and this will get him back on track. Finally young Sifelani Mafulo is continuing his schooling al a private college in Marondera. Our support lo local schools has reduced for both good and bad reasons. Bangari Secondary School had a major event with the Minister present lo celebrate the completion of all school buildings. 11 is now the lop school in this rural area. Sadly, we withdrew from Kutsokodeka Primary School on discovering that a senior teacher had stolen building materials supplied for the new classroom block. Nothing had been done to alert us, nor to pursue the matter with the police. Page 2
HIPPO POOLS TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 HEALTH 11 was decided lo concentrate on Kulsokodeka Clinic, where Sister Masara has proved her worth over many years Sin it opened in 2015. The Clinic serves 10 villages and about 4000 people. We continued to provide basic supplies and some drugs. "THE COUNTRY IS LAWLESS" Directly over the Mazowe river from the Wilderness Camp is Garura Village where for many years we have operated a small Wildlife Park for our visitors. There has always been a strong relationship here, particularly with the Village Head, who became local Councillor for all Maramba area. However, the relationship stsrted lo break down towards the end of 2022 when the lease for the Wildlife Park was due to renew. It became obvious that the new lease was being withheld from the Trust, both by the Councillor and the local Council. Then we heard that the Councillor had relinquished his role as Village Head and passed it to a younger brother, a man many feared. Conversations and meetings ended with one of the Trustees visiting the brothers in the village and finding that ZANU-PF youths had been waiting lo beal him. Fortunately, he and our female lawyer, somehow avoided this bul both were threatened, and money extorted, then finally released physically unharmed. This is being written in 2023 and the Trust has not been able to sel fool in the Park for almost a year., we fear that many of our animals are dead. Zimbabwe's inflation rale continues to rise and, as the new Village Head pronounced ' the country is lawless, we can do what we want." All this is happening at a ts'me when our Chair tends lo be unwell, and the amount she is able lo donate lo the Trust has redud. We are therefore looking to conserve funds for Education and Health and continue to use excess income from the Wilderness Camp for any additional projects. These events are a microcosm of what is happening in Zimbabwe, there are many good people in the country who deserve much beller. FINANCIAL REVIEW Despite the challenges explained above, income has increased lo £252,987 from a prior year total of £165,938. 11 appears as if a decrease in expenditure for the 2022 year lo £176,08412021.' £262,6001. This has landed the Trust with a positive nel movement in funds of £77,903 compared with a deficit in the 2021 year of £96,662. RESERVES POLICY As slated within the'the country is lawless section above, donations from the Chair have reduced, therefore the Trust are looking to conserve funds for Education and Health. This will allow the Trust lo continue ils operations in future years. At the year end, free reserves were £104,36112021.' £26,458). GOING CONCERN After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial stslemenls. Further details regarding the adoption of the going cOnM basis can be found in the accounting policies. Page 3
HIPPO POOLS TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 STRUCTURE. GOVERNANCE AND MANAGEMENT CONSTITUTION Hippo Pools Trust is a registered charity, number 1141004, and is constituted under a Trust deed. METHODS OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. FINANCIAL RISK MANAGEMENT The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place lo mitigate exposure to the major risks. Approved by order of the members of the board of Trustees and signed on their behalf by.. The Hon Sally Jane Plummer Trustee Dale.. 2611012023 Page 4
HIPPO POOLS TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HIPPO POOLS TRUST {Yhe Charity'l report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities IAccouns and Reports) Regulations 2008. My work has been Ljndertaken so that I might slate to the charity's Trustees those matters l am required to stale to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the harity and the charity's Trustees as a body, for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 ACVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Your allenlion is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come lo 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 Charity as required by section 130 of the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the appIlble requirements conMIng the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. Chris Tranlham FCA BISHOP FLEMING BATH LIMITED Chartered Accountants 10 Temple Back Bristol BS16FL Page 5
HIPPO POOLS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted fund$ 2022 Total fund$ 2022 Total funds 2021 Note Income from: Donations and legacies Investments 252,987 252,987 165,934 Total income 252,987 252,987 165,938 Expenditure on: Charitsble activities 175,084 175,084 262,600 Total expenditure 175,084 175,084 262,600 Net movement in funds 77,903 77,903 196,6621 Reconciliation of funds.. Total funds brought forward Nel movement in funds 26,458 77.903 26,458 77.903 123,120 196,6621 Total funds carried forward 104,361 104,361 26,458 All incoming and outgoing resources are unreslricled. All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those slated above. The notes on pages 8 10 12 form part of these financial slatemenls. Page 6
HIPPO POOLS TRUST BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Note Current assets Debtors Cash al bank and in hand 3,392 101,849 2,780 24,478 105.241 27,258 Creditors.. amounts falling due within one year 10 {880} 18001 Net current assets 104,361 26,458 Total assetslgss current liabilities 104.361 26,458 Total net assets 104,361 26,458 Charity funds Unrestricted funds 104.361 26,458 Totsl funds 104,361 26,458 The financial statements were approved by the Trustees on and signed on their behalf, by.. The Hon Sally Jane Plummer Trustee Date.. 2611012023 The notes on pages 8 10 12 form part of these financial statements. Page 7
HIPPO POOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Ststemenl of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Hippo Pools Trust conslilutes a public benefit entity as defined by FRS 102. The Charity has tsken advantage of the provision in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a cashflow statement. 1.2 INCOME All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Voluntary income is received by way of unrestricted donations, gifts and other incoming resources reiVed or generated for the charitable purposes. Volunteer lime is not included within the accounts 1.3 RESOURCES EXPENDED Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating lo the govemance of the charity's apportioned lo charitable aclivilies. All expenditure is inclusive of irrecoverable VAT. 1.4 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.5 FOREIGN CURRENCIES Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling al the balance sheet dale. Transactions in foreign currencies are translated into slerfing al the rale ruling on the dale of the transaction. Page 8
HIPPO POOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES 1.6 FUND ACCOUNTING General funds are unreslricled funds whith are available for use at the dIretIon of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. VOLUNTARY INCOME Unrestricted funds 2022 Total funds 2022 Total funds 2021 Donations 252,987 252,987 165,934 TOTAL 2021 165,934 165,934 INVESTMENT INCOME Unrestricted funds 2022 Total funds 2022 Total fvnds 2021 Investment income - bank interest TOTAL 2021 Page 9
HIPPO POOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 GRANTS TO INSTITUTIONS Unrestricted funds 2022 Total funds 2022 Total funds 2021 Grants to Charitable Partners 173,368 173.368 260,100 TOTAL 2021 260,100 260,100 The Charity has made the following material grants to institutions during the year.. 2022 2021 NAME OF INSTITUTION Hippo Pools Trust Zimbabwe - Capital Costs Hippo Pools Trust Zimbabwe - Running Costs Ambuya Foundation Izimbabwel Tikki Hywood Trust 4,893 213,954 3,300 37,953 170.998 2,370 173.368 260,100 GOVERNANCE COSTS Unrestrlcted funds 2022 Total funds 2022 Totsl funds 2021 Accountancy Bank charges Fines & penalties 1,578 138 1,578 138 1,520 880 100 TOTAL 2022 1,716 1,716 2,500 Page 10
HIPPO POOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Summary by fund type Unrestricted funds 2022 Total 2022 Total 2021 Grant making 175,084 175.084 262,600 TOTAL 2021 262,600 262,600 ANALYSIS OF EXPENDITURE BY ACTIVITIES Grant funding of activities 2022 Support Costs 2022 Total funds 2022 Total funds 2021 Grant making 173,8 1,716 175,084 262,600 NET INCOMING RESOURCES During the year, no Trustees reiVed any remuneration or other benefils12021- £NILI. During the year ended 31 December 2022, no Trustee expenses have been incurred12021- £NIL}. DEBTORS 2022 2021 other debtors 3.392 2,780 3,392 2,780 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Accruals and deferred income 880 800 Page11
HIPPO POOLS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. STATEMENT OF FUNDS All funds in the current and prior year are unrestricted general funds. 12. RELATED PARTY TRANSACTIONS The charity reTrived donations under gift aid provisions of £1,80012021.. £2,303) from Richard Fox Lowe, Iruslee. The charity received donations under gift aid provisions of £120,00012021.. £50,000) from Purton Property Company Ltd, a company Controlled by The Hon Sally Jane Plummer, trustee. The charity received donations under gift aid provisions of £012021.. £40,000) from The Hon Sally Jane Plummer, Trustee. The charity received donations under gift aid provisions of £600 12021.. £6001 from Victoria Trinette McHugh, Trustee. The charity received donations under gift aid provisions of £120,00012021.. £20,000) from Speen Property Trust Co Ltd, a company controlled by The Hon Sally Jane Plummer, trLJStee. 13. CONTROLLING PARTY The Trust is controlled jointly by the Trustees, there is no controlling paty- Page 12