THE ZAMBEZI EDUCATION AND CONSERVATION TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Charity Number: 1153866
THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | G R Woodford |
|---|---|
| I McFadyen | |
| A J McFadyen | |
| H C McFadyen | |
| C A McFadyen | |
| Charity Number | 1153866 |
| Registered Office | The Old Rectory |
| Brisley | |
| Dereham | |
| Norfolk | |
| NR20 5LJ | |
| Solicitors | Howes Percival |
| Flint Buildings | |
| 1 Bedding Lane | |
| Norwich | |
| NR3 1RG |
THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of The Zambezi Education and Conservation Trust for the year 1 April 2024 to 31 March 2025. The Trustees confirm that the annual report and financial statements of the charitable incorporated organisation comply with the current statutory requirements, the requirements of the charitable incorporated organisation's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
OBJECTIVES AND ACTIVITIES
Policies and objectives
The principal objectives of the charitable incorporated organisation under the revised constitution are:
a. The promotion of education in such manner as the charity Trustees may think fit, including without limitation by awarding scholarships, maintenance allowances or grants to enable individuals who would not otherwise be able to afford such education or training to travel to be able to be educated at a school, university, college or other institution of higher or further education, or to train for and prepare for entry into any occupation, trade or profession;
b. By providing items, including without limitation information technology devices, to be used for the furtherance of the education of children and young people;
c. The prevention of relief of poverty by providing grants, items and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty;
d. The relief of financial hardship, either generally or individually, of people by making grants of money or providing or paying for items, services or facilities;
e. The promotion of sustainable development for the benefit of the public by the preservation, conservation and the protection of wildlife and the environment and the prudent use of resources, the relief of poverty and the improvement of conditions of life in socially and economically disadvantaged communities and the promotion of sustainable means of achieving economic growth and regeneration;
f. The promotion for the benefit of the public of the conservation, protection and improvement of the physical and natural environment;
g. The promotion for the benefit of the public of humane behaviour towards animals by providing appropriate care, protection, treatment and security for animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare and the prevention of cruelty and suffering among animals;
h. Such other objects which are legally charitable and for the public benefit as the Trustees may from time to time decide.
The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining activities undertaken.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
Review of activities
The Trustees have considered requests for support and been in liaison with other charities with a view to becoming active in a small way bearing in mind the limited resources available to the charity.
The income for the year amounted to £nil, including gift aid (2024: £nil). Expenditure to support the charitable objectives during the year was £65 (2024: £10) which includes grants to institutions amounting to £65 (2024: £10).
FINANCIAL REVIEW
Going concern
The Trustees have made an assessment in preparing these financial statements as to whether the charity is a 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 to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Reserves policy
At the year end the charity had unrestricted funds carried forward of £32,101 (2024: £32,166). In the future the charity aims to match the expenditure with their income, keeping a level of reserves amounting to approximately one year's operating costs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Zambezi Education and Conservation Trust was originally established as a foundation model Charitable Incorporated Organisation (CIO). It was incorporated and registered with the Charity Commission on the 19th September 2013 and the registered charity number is 1153866.
On the 5th May 2015 the charity passed a resolution to amend their constitution from a foundation model CIO to an association model CIO. The charity received consent from the Charity Commission for the proposed changes to the constitution on 1 June 2015.
Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected under the terms of the constitution.
The Trustees may appoint any eligible individual as a Trustee, either to fill a vacancy or as an additional Trustee. The charity Trustees will make available to each new charity Trustee, on or before appointment, a copy of the constitution and any amendments made to it and a copy of the latest Trustees' Annual Report and financial statements for the CIO.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure and decision-making policies
Members and Trustees:
Mr G R Woodford (Member/Trustee) Mr I McFadyen (Trustee) Mr A J McFadyen (Member/Trustee) Mrs H C McFadyen (Trustee) Mr C A McFadyen (Trustee)
Members' Decisions
Except for those decisions that must be taken in a particular way as indicated below, decisions of the Members of the charity may be taken either by vote at a general meeting or by written resolution agreed by a simple majority of all the Members who would have been entitled to vote upon it had it been proposed at a general meeting.
Decisions that must be taken in a particular way:
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Any decision to remove a Trustee from office must be voted upon at a general meeting of the Members called for that purpose and the resolution needs to be passed by two-thirds majority of votes cast at the meeting.
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Any decision to amend the constitution can only be passed by a resolution agreed in writing by all Members of the charity or by a resolution passed by a 75% majority of those voting at a general meeting of the Members.
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Any decision to wind up or dissolve the charity can only be passed by a resolution agreed in writing by all Members of the charity or by a resolution passed by a 75% majority of those voting at a general meeting of the Members.
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Any decision to amalgamate or transfer the undertaking of the CIO to one or more other charities must be taken in accordance with the provisions of the Charities Act 2011.
Trustees' Decisions
Any decision may be taken either:
-
at a meeting of the charity Trustees; or
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by a resolution in writing or electronic form agreed by all of the charity Trustees, which may comprise either a single document or several documents containing the text of the resolution in like form to each of which one or more charity Trustees has signified their agreement.
PLANS FOR FUTURE PERIODS
Given the low-level of activity, the Trustees are considering winding up the CIO in the forthcoming year.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the Board of Trustees and signed on their behalf by:
A J McFadyen
Trustee Date: 15/01/26
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
==> picture [449 x 363] intentionally omitted <==
----- Start of picture text -----
Unrestricted Total Total
funds funds funds
2025 2025 2024
Note £ £ £
Income from:
Donations and legacies 3 - - -
- - -
Expenditure on:
Charitable activities 4 (65) (65) (10)
(65) (65) (10)
Net income / (expenditure) (65) (65) (10)
Transfers between funds - - -
Net movement in funds (65) (65) (10)
Reconciliation of funds:
Total funds brought forward 32,166 32,166 32,176
Net movement in funds (65) (65) (10)
Total funds carried forward 32,101 32,101 32,166
----- End of picture text -----
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 12 form part of these financial statements.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
BALANCE SHEET AS AT 31 MARCH 2025
| Note Fixed Assets Investments 5 Current Assets Debtors 6 Cash at bank and in hand |
850 578 |
2025 £ 30,673 |
850 643 |
2024 £ 30,673 |
|---|---|---|---|---|
| Creditors: amounts falling due 7 |
1,428 - |
1,493 - |
||
| within one year Net current assets |
1,428 | 1,493 | ||
| Total assets less current liabilities | 32,101 | 32,166 | ||
| Total net assets | 32,101 | 32,166 | ||
| Charity funds Unrestricted funds 8 |
32,101 | 32,166 | ||
| Total funds | 32,101 | 32,166 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
A J McFadyen
Trustee
Date: 15/01/26
The notes on pages 7 to 12 form part of these financial statements.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. General information
The Zambezi Education and Conservation Trust is a CIO, registered with Charities Commission, charity number 1153866. Its address is The Old Rectory, Brisley, Dereham, NR20 5LJ
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
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 (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Zambezi Education and Conservation Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised on an accruals basis at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
After making appropriate enquiries and taking into consideration future income streams, 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 to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.4 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.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is accounted for on an accruals basis inclusive of VAT.
2.5 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities.
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Donations (including gift aid) | Unrestricted Total funds funds 2025 2025 £ £ - - |
Total funds 2024 £ - |
|---|---|---|
In the prior year, £nil of income from donations and legacies was unrestricted.
4. Direct costs
| Accountancy Consultancy Donations / grants Insurance |
2025 £ - - 65 - 65 |
2024 £ - - 10 - 10 |
|---|---|---|
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
5. Fixed asset investments
| Cost or valuation At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Unlisted investments £ 30,673 30,673 30,673 30,673 |
|---|---|
Valuation
The unlisted investment above relates to 2,000,334 shares in Mwabu Group Limited. These were historically valued by Mr G Woodford FCA (Trustee) at 0.02USD per share as fair value and the amount above is now considered to be cost as the value cannot be measured reliably.
6. Debtors: Amounts falling due within one year
| Tax recoverable Amounts falling due within one year Accruals and deferred income |
2025 £ 850 2025 £ - |
2024 £ 850 2024 £ - |
|---|---|---|
7. Creditors: Amounts falling due within one year
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FOR THE YEAR ENDED 31 MARCH 2025
THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
8. Statement of funds
| Statement of funds - current year Balance at 1 Transfers Apr-24 Income Expenditure in/out £ £ £ £ Unrestricted funds General funds 32,166 - (65) - Statement of funds - prior year Balance at 1 Transfers Apr-23 Income Expenditure in/out £ £ £ £ Unrestricted funds General funds 32,176 - (10) - |
Balance at 31 Mar-25 £ 32,101 Balance at 31 Mar-24 £ 32,166 |
|---|---|
9. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year et assets between funds - prior year Fixed asset investments Current assets Creditors due within one year |
Unrestricted funds 2025 £ 30,673 1,428 - 32,101 Unrestricted funds 2024 £ 30,673 1,493 - 32,166 |
Total funds 2025 £ 30,673 1,428 - 32,101 Total funds 2024 £ 30,673 1,493 - 32,166 |
|---|---|---|
Analysis of net assets between funds - prior year
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THE ZAMBEZI EDUCATION AND CONSERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
10. Related party transactions
The Trustees received £Nil (2024: £Nil) for reimbursement of expenses incurred on behalf of the charity.
The unlisted investments of 2,000,334 shares is in Mwabu Group Limited. Mr I McFadyen is a Director of Mwabu Group Limited.
The charity considers the Trustees to be the key management personnel of the charity. No remuneration was paid to the Trustees during the year (2024: £Nil).
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