Lalibela Trust
Charity No. 1147147
Trustees' Report and Unaudited Accounts
31 December 2020
Lalibela Trust Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Statement of Cash flows | 8 |
| Notes to the Accounts | 9 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
Page 1
Lalibela Trust Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2020.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1147147
Principal Office
The Coach House Trispen Truro Cornwall TR4 9BB
Trustees
The following Trustees served during the year:
R. Gray A.C. Sandbrook A.M. Sharp E.M.F. Sharp H.C. Sharp J.C. Sharp J.H.C. Sharp
Accountants
David Johnson Concord, South Town Lane West Pennard Glastonbury, Somerset England BA6 8NS
Page 2
Lalibela Trust Trustees Annual Report
Trustees Report
The flagship maternity unit in the grounds of Lalibela Hospital finally opened in July 2020. The unit has performed well with over 500 deliveries and much improved performance in maternal and neonatal care. 20% of deliveries have been Caesarian sections, which equates to the United Kingdom rate.
Maternity provision, prior to opening of the maternity unit, was grossly inadequate consisting of three rooms – a labour ward, a second for immediate post-delivery rest plus a delivery room containing three couches and very basic equipment.
The new L-shaped stand-alone, self-contained unit – the size of two tennis courts – has in-patient and out-patient facilities. Out-patients has a consulting room, scanner room, pharmacy, laboratory and family planning room. A termination of pregnancy room is a late addition. In-patients contains a labour and delivery room with two operating theatres. There are five wards - ante-natal, post-natal and Caesarian section wards, plus two intensive care wards specifically for gravely ill women and neo-nates.
The unit is well staffed with experienced obstetricians, gynaecologists and anaesthetists, plus nineteen midwives, fifteen nurses and six intensive care nurses.
Festival Medical Services, following their 2018 visit, hope to return to improve critical management at first contact with the mother in labour and on arrival at the maternity unit.
The Exeter/Truro Medical School staff and student link to Lalibela have had two successful visits in March 2019 and March 2020. They are keen to assist with staff training and introducing “best practice”.
Norman and Carole, our partners, continue their very successful work. However, the serious civil unrest in neighbouring Tigray, the Covid pandemic and poverty in Lalibela – a town almost totally dependent on tourism – have resulted in major upset. Poverty now is compounded by IDPs fleeing from Oromia and some from Tigray, for whom Lalibela has been attractive because of its deep religious connections and churches for sanctuary. Lalibela Trust has significantly contributed financially to food aid. Our much-respected Ethiopian Project Manager, Derebe, oversees fair and equitable food distribution.
Millfield School, Somerset continues to fund projects at Lalibela High School. A UK donor funds food provision for 6 students who have attained the necessary academic standard to enter Lalibela High School but are unable to afford food.
Health Posts, Spring Improvement Projects and School classrooms are Norman and Caroles`s special focus.
Health Posts 16 completed serving a total of around 148,000 people . Frustratingly, work on a new Health Post in Meket Woreda continues to be delayed by a dispute between residents about its location.
Spring Improvement projects 128 completed; 6 failed (but 2 have been rebuilt); 9 under construction. Total beneficiaries 53,000. Work continues, but slowly because of the security risks and cement availability.
Schools 22 classrooms built. At an average of 40 children per shift, 2 shifts per day, the number of children benefitting is around 49,000. 3 shifts per day to allow social distancing; retired teachers re-engaged, etc. Hugh and Catherine, Norman and Carole plan to visit in October.
Page 3
Lalibela Trust Trustees Annual Report
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
H.C. Sharp Trustee 30 June 2021
Page 4
Lalibela Trust Independent Examiners Report
Independent Examiner's Report to the trustees of Lalibela Trust
I report to the trustees on my examination of the accounts of Lalibela Trust for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
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 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
David Johnson FCMA David Johnson Associates Concord, South Town Lane West Pennard Glatonbury, Somerset England BA6 8NS 30 June 2021
Page 5
Lalibela Trust Statement of Financial Activities
for the year ended 31 December 2020
| Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Charitable activities 4 Other 5 Total Net gains on investments Net expenditure Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2020 £ 2,792 |
Restricted funds 2020 £ 68,855 |
Total funds 2020 £ 71,647 |
Total funds 2019 £ 81,280 |
|---|---|---|---|---|
| 2,792 5,000 639 |
68,855 92,000 102 |
71,647 97,000 741 |
81,280 80,600 722 |
|
| 5,639 - |
92,102 - |
97,741 - |
81,322 - |
|
| (2,847) - |
(23,247) - |
(26,094) - |
(42) - |
|
| (2,847) | (23,247) | (26,094) | (42) | |
| (2,847) 12,750 |
(23,247) 46,801 |
(26,094) 59,551 |
(42) 59,593 |
|
| 9,903 | 23,554 | 33,457 | 59,551 |
Page 6
Lalibela Trust Balance Sheet
at 31 December 2020
| Charity No. 1147147 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds Restricted income funds 7 Unrestricted funds 7 General funds Designated funds Reserves 7 Total funds |
2020 £ 33,457 33,457 33,457 33,457 33,457 33,457 23,554 23,554 12,750 (2,847) 9,903 33,457 |
2019 £ 59,551 |
|---|---|---|
| 59,551 | ||
| 59,551 59,551 |
||
| 59,551 | ||
| 59,551 | ||
| 46,801 | ||
| 46,801 12,750 - |
||
| 12,750 | ||
| 59,551 |
Approved by the trustees on 30 June 2021
And signed on their behalf by:
H.C. Sharp Trustee 30 June 2021
Page 7
Lalibela Trust Statement of Cash flows
for the year ended 31 December 2020
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2020 £ (26,094) (26,094) - - (26,094) 59,551 33,457 33,457 33,457 |
2019 £ (42) |
|---|---|---|
| (42) | ||
| - | ||
| - | ||
| (42) 59,593 |
||
| 59,551 | ||
| 59,551 | ||
| 59,551 |
Page 8
Lalibela Trust Notes to the Accounts
for the year ended 31 December 2020
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
Lalibela Trust Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
Lalibela Trust Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 11
Lalibela Trust Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies |
Unrestricted £ 1,870 - 922 - 2,792 |
Unrestricted funds 2019 £ 7,845 7,845 5,500 116 5,616 2,229 2,229 2,229 11,010 13,239 Restricted £ - 33,520 - 35,335 68,855 |
Restricted funds 2019 £ 73,435 73,435 75,100 606 75,706 (2,271) (2,271) (2,271) 48,583 46,312 Total 2020 £ 1,870 33,520 922 35,335 71,647 |
Total funds 2019 £ 81,280 |
|---|---|---|---|---|
| 81,280 80,600 722 |
||||
| 81,322 | ||||
| (42) | ||||
| (42) | ||||
| (42) 59,593 |
||||
| 59,551 | ||||
| Total 2019 £ 3,951 34,050 3,894 39,385 |
||||
| 81,280 |
Page 12
Lalibela Trust Notes to the Accounts
4 Expenditure on charitable activities
| 4 Expenditure on charitable activities |
||||
|---|---|---|---|---|
| Expenditure on charitable activities Governance costs 5 Other expenditure General administrative costs Legal and professional costs |
Unrestricted £ - - 5,000 - 5,000 Unrestricted £ 24 615 639 |
Restricted £ 87,000 5,000 - - 92,000 Restricted £ 102 - 102 |
Total 2020 £ 87,000 5,000 5,000 - 97,000 Total 2020 £ 126 615 741 |
Total 2019 £ 70,000 5,100 5,000 500 |
| 80,600 | ||||
| Total 2019 £ 137 585 |
||||
| 722 |
6 Staff costs
No employee received emoluments in excess of £60,000.
Page 13
Lalibela Trust Notes to the Accounts
7 Movement in funds
| Restricted funds: Restricted income funds: Community Project - Norman Coward Total Unrestricted funds: General funds Designated funds: Lalibela Maternity Unit & Community Support Total Revaluation Reserves: Total funds |
At 1 January 2020 46,801 46,801 12,750 - - 59,551 |
Incoming resources (including other gains/losses) £ 68,855 68,855 - 2,792 2,792 71,647 |
Resources expended £ (92,102) (92,102) - (5,639) (5,639) (97,741) |
At 31 December 2020 £ 23,554 |
|---|---|---|---|---|
| 23,554 | ||||
| 12,750 (2,847) |
||||
| (2,847) | ||||
| 33,457 |
Purposes and restrictions in relation to the funds:
Restricted funds:
Community Project - Norman Norman Coward Community Projects Coward
Designated funds: Lalibela Maternity Unit & Establish Maternity Unit and Support Infrastructure Community Support
8 Analysis of net assets between funds
| Net current assets | Unrestricted funds £ 10,509 10,509 |
Restricted funds £ 22,948 22,948 |
Total £ 33,457 |
|---|---|---|---|
| 33,457 |
Page 14
Lalibela Trust Notes to the Accounts
9 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 January 2020 £ 59,551 59,551 59,551 |
Cash flows £ (26,094) (26,094) (26,094) |
At 31 December 2020 £ 33,457 |
| 33,457 | |||
| 33,457 |
Page 15
Lalibela Trust Detailed Statement of Financial Activities
for the year ended 31 December 2020
| Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities General administrative costs, including depreciation and amortisation Bank charges Postage and couriers Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: |
14 10 24 615 615 639 5,639 - (2,847) (2,847) - (2,847) Unrestricte d funds 2020 £ 1,870 - 922 - 2,792 2,792 - - 5,000 - 5,000 5,000 |
72 30 102 - - 102 92,102 - (23,247) (23,247) - (23,247) Restricted funds 2020 £ - 33,520 - 35,335 68,855 68,855 87,000 5,000 - - 92,000 92,000 |
86 40 126 615 615 Total funds 2020 £ 1,870 33,520 922 35,335 71,647 71,647 87,000 5,000 5,000 - 97,000 97,000 |
Total funds 2019 £ 3,951 34,050 3,894 39,385 |
|---|---|---|---|---|
| 81,280 | ||||
| 81,280 70,000 5,100 5,000 500 |
||||
| 80,600 | ||||
| 69 68 80,600 |
||||
| 137 | ||||
| 585 | ||||
| 585 | ||||
| 741 97,741 - (26,094) (26,094) - (26,094) |
||||
| 722 | ||||
| 81,322 - |
||||
| (42) | ||||
| (42) - |
||||
| (42) | ||||
Page 16
| Lalibela Trust Detailed Statement of Financial Activities Total funds brought forward Total funds carried forward |
12,750 9,903 |
46,801 23,554 |
59,551 33,457 |
59,593 |
|---|---|---|---|---|
| 59,551 |
Page 17