## **- SA UK TRUST NETWORK** # **DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2022** **Registered Charity No. 1160355 (England & Wales)** **CONTENTS** **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** |Administrative information|1| |---|---| |Report of the Directors and trustees|2 - 5| |Statement of fnancial activities|6| |Balance sheet|7| |Notes to the accounts|8 - 9| 2 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** ## **ADMINISTRATIVE INFORMATION** Charity Number 1160355 (England and Wales) Registered Office 7 Balmoral East Grinstead W Sussex RH19 4RJ Trustees Jill Ritchie Louise Seligman Martha Ware Kathi Scott Carolyn Cripps Peter Burdin Kelvin Glen Neliswa Hare Secretary Louise Seligman Bankers HSBC 38 London Road East Grinstead West Sussex RH19 1AB ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** 1 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** The trustees present their annual report and financial statements of the charity for the 12 months ended 31 December 2022. ## LEGAL STATUS & CONSTITUTION The charitable incorporated organisation (CIO) is incorporated under the Charities Act 2011 and is governed by its constitution document dated 15 August 2014. The CIO was registered with the Charities Commission on 5 February 2015 and its registration number is 1160355. ## OBJECTIVES AND ACTIVITIES SA-UK TRUST NETWORK is a UK registered charity promoting the effectiveness and efficiency for the benefit of the public by developing the capabilities of charities that work with, and for the benefit of the people of South Africa. Trustees have considered the public benefit requirement under the Charities Act 2011. ## ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW The SA-UK Trust Network, continues to grow and serve its members. It was excellent to be able to resume public gatherings after the COVID19 pandemic. The charity generated income of £1,250 during the 12 months under review, which consisted of memberships for the SA-UK Trust Network. Total expenditure was £714 which was for administrative assistance, IT and office expenses. ## RESERVES POLICY At the year end the charity had free reserves of £3,257. 2 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** MEMBERSHIPS Organisation Name 67 Blankets Action for Burns & Children ACFS Community The Africa Foundation UK Afrika Tikkun Bishop Simeon Trust Breadline Africa Buskaid Education and Feeding Scheme Cannon Collins Children's Hospital Trust SA Chiva Afrika Friends of Ikamva LaBantu (FOIL) Home from Home LIV Village UK Masicorp Mike Procter Foundation MN Foundation Mothers 2 Mothers Mzimkulu Trust Nedbank SA Charity Golf Day CIC Nelson Mandela Children’s Fund Project Gateway S.A.I.N.T. St David's Marist Foundation UK Charity Winnie Mabasobo Foundation ZABRA ## RISK MANAGEMENT The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been, or will be, established to enable the necessary steps to be taken to lessen these risks. The main risk to the charity is that membership income decreases which would significantly reduce the level of charitable activity possible. ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** ## **(CONTINUED)** 3 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** ## FUTURE PLANS The SA-UK Trust Network continues to grow its charitable relationships and increase memberships to enable more charities to connect and learn from each other. It is heartening to note that members tell each other about the Network and new potential members approach the Network by finding it online. The administrator has taken on the role of managing the social media enabling an ongoing and consistent social media presence. It is planned to approach the South African Chamber of Commerce, UK to request that they host a joint meeting and, if successful, to try to have these annually. A strategic planning session is also envisaged, ideally with an outside facilitator, to consider the next phase of the Network’s evolution. This is likely to result in more gatherings as this is the most requested option by the members. ## STRUCTURE, GOVERNANCE AND MANAGEMENT SA-UK Trust Network is a UK registered charity and is constituted as a charitable incorporated organisation and therefore governed by a Memorandum and Articles of Association. The charity is organised so that its directors and trustees meet at various intervals and exercise responsibility for its governance. In the intervening periods the secretary deals with the routine business. All trustees give their time freely and no trustee remuneration or expenses was paid in the year. In addition, no out of pocket expenses were reimbursed to the trustees and no trustee had any beneficial interest in any contract with the charity during the year. ## REFERENCE AND DEMONSTRATIVE INFORMATION The administrative information is set out on page 1 of these financial statements. The Directors of the Foundation are its trustees for the purposes of Charity Law. The trustees and officers serving during the year and since the year end were as follows: Jill Ritchie, (Chair) Louise Seligman, (Secretary) Martha Ware Kathi Scott Carolyn Cripps Peter Burdin Neliswa Hare 4 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** Kelvin Glen (Treasurer) The Board has the power to appoint additional trustees as it considers fit to do so. **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)** ## TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS ## 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 the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP - make judgements and estimates that are reasonable and prudent - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements - 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 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 Charity (Accounts and Reports) Regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The report was approved by the board on October 2023 and signed on their behalf by: 5 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** ………………………………………………………………………… Jill Ritchie – Director & Trustee ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2022** ## SUMMARY INCOME & EXPENDITURE ACCOUNT |INCOMING RESOURCES
Memberships
TOTAL INCOMING RESOURCES
EXPENDITURE
Charitable activities
Total
NET INCOME
Total funds brought forward
Total funds carried forward|Notes
3
4|Unrestrict
ed
Funds
2022
£
1,250
1,250
714
714
536
3,257
3,793|Total
Funds
2022
£
1,250
1,250
714
714
536
3,257
3,793|Total
Funds| |---|---|---|---|---| |||||| |||||2021
£
900
900
612
612
288
1,125| |||||3,257| The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 and 9 form part of these financial statements. The results for the period all relate to continuing activities. 6 SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales) **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** |**BALANCE SHEET FOR THE PERIOD ENDED 31 DECEMBER 2022**|**BALANCE SHEET FOR THE PERIOD ENDED 31 DECEMBER 2022**| |---|---| ||2022| ||£| |CURRENT ASSETS|| ||3,793| |Cash at bank and in hand|| |NET ASSETS|3,793| |FUNDS|| |Unrestricted funds|3,793| |TOTAL CHARITY FUNDS|3,793| |Approved by the Board of Trustees on October 2023 and signed on its|| |behalf by:|| |………………………………………………………………………….|| |Jill Ritchie – Director & Trustee|| 8 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022** ## 1. ACCOUNTING POLICIES ## (a) Basis of Preparation of Financial Statements The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the 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 of 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. Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash flow statement under SORP (FRS 102) Update Bulletin 1 (issued February 2016), which the charity has early adopted. The charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## (b) Reconciliation with previous Generally Accepted Accounting Practice In preparing the accounts the trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was required. No restatements were required. ## (c) Income Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the foundation has been notified in writing of both the amount and settlement date. ## (d) Expenditure Expenditure is recognised once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured. All expenditure is accounted for on an accruals basis, however currently the administration and governance expenditure for the Foundation is paid by the charity. 9 **SA-UK TRUST NETWORK Registered Charity No. 1160355 (England & Wales)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 (CONT)** ## 2. LEGAL STATUS The Charity is a charity registered as a Charity Incorporation Organisation. 3. MEMBERSHIPS Total £ Memberships 1,250 |4. ANALYSIS OF
EXPENDITURE| |---| |ON CHARITABLE
ACTIVITIES| Domain renewals, administration costs 714 ## 5. TAXATION As the Charity’s aim is to promote the effectiveness and efficiency for the benefit of the public, in particular by developing the capabilities of charities that work with, and for the benefit of the people of South Africa; As a registered Charity, it is not liable to UK income tax or corporation tax. It is not subject to Corporation Tax. ## 6. RELATED PARTY TRANSACTIONS None of the Directors/Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or related party. There have been no related party transactions in the reporting period. 10