Charity registration number 1165845
THE NAYAMBA TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE NAYAMBA TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mrs K J Pike Mr T Pestridge Mrs V Pestridge Mr J Petherick Mrs M Petherick Ms L Mayor Ms H L Honan Mr J Brookes (Appointed 13 July 2021) Charity number 1165845 Independent examiner Hammett Spire LLP 21 Heavitree Road Exeter Devon EX1 2LD
THE NAYAMBA TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
THE NAYAMBA TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their report and accounts for the year ended 31 December 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and “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 2015)”
Objectives and activities
The charity's objects are to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time in particular but not limited to advancing the education of young people for the public benefit by making grants to schools and to students. The charity shall benefit in particular but not exclusively, the population surrounding the Nayamba Primary School in the Chisamba region of Zambia.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The achievements and performance of the charity are set out in the chairman's and treasurer's reports that follow.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and twelve month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO), registered on 3 March 2016. The governing document is the constitution and it is governed by its charity Trustees. Assets are vested in the CIO itself as a corporate body, not in Trustees personally.
| The Trustees who served during the year and up to the date of signature of the financial statements were: | The Trustees who served during the year and up to the date of signature of the financial statements were: |
|---|---|
| Mr R D Pike | (Resigned 13 July 2021) |
| Mrs K J Pike | |
| Mr T Pestridge | |
| Mrs V Pestridge | |
| Mr J Petherick | |
| Mrs M Petherick | |
| Ms L Mayor | |
| Ms K Rains | (Resigned 13 July 2021) |
| Ms H L Honan | |
| Mr J Brookes | (Appointed 13 July 2021) |
| Ms A White | (Appointed 13 July 2021 and resigned 12 December 2021) |
The Trustees are appointed and removed by simple majority.
None of the Trustees have any beneficial interest in the CIO.
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THE NAYAMBA TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Background
Nayamba Primary School was founded in 2007 on Nagwasa Farm in the Chisamba district of Zambia by the farm owners. It was established primarily as a school to educate local children who live within the surrounding farms and the forest area and because of distance and cost were not accessing any education.
Vision
It is the vision of the school founders that the standard of education available to children in the area is at least as good as that available to those able to afford fee paying schools. It is also hoped to be able to expand the school facilities and, in time, create the opportunity for children to progress all the way through the education system - from preschool age to beyond secondary school age.
Chairperson’s report
We had hoped that 2021 would be the year we left Covid behind. While that wasn’t the case, there is much to celebrate in this Chair’s report.
Generosity of Donors sustaining us through the pandemic
Despite a year of great financial insecurity, The Nayamba Trust has continued to be very well aided by its supporters. We have been particularly delighted in the variety of one off donations from individuals and community groups who have wanted to ensure we can continue making sure the wonderful Nayamba School can keep its doors open. For example, one of our supporters ran a birthday fund instead of receiving gifts, raising over £700.
With fundraising events of a social nature still remaining a challenge, we launched our Big Give online campaign again at the end of the year. This raised essential funds to expand and renovate our preschool, creating a vibrant play-based learning environment for our youngest students. Through these and many other events, we have been able to end the year in a strong financial position. (See Treasurer’s report for more details)
Trade Centre Developments
Having only launched the Trade Centre in the middle of the pandemic last year, one could expect this to be an area that will take longer to establish. However, with special thanks to our international volunteer Danielle Connolly, our Trade Centre has expanded and already become known across Zambia as a place of excellence with regards to weaving. This has meant our first cohort of apprentices have been able to graduate and move on to the next step in their journeys. For some this has meant successfully setting up their own businesses, others have gone on to train weavers elsewhere in the country and still others have progressed to be full time staff with the Trade Centre, weaving themselves and training up our next cohort of apprentices.
Having proved the concept last year, this year we had many within the community who wanted to become NTC (Nayamba Trade Centre) apprentices. We were particularly pleased to be able to offer spaces to vulnerable women, known to the school. One student had been protected by Nayamba after a nasty safeguarding issue in her home and another young person who was deaf, had struggled to access schooling and therefore had very limited options going into adult life. Both students have really thrived in their apprenticeships.
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THE NAYAMBA TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Staying Connected
One of the things that is so important to The Nayamba Trust is our direct link with the school in Zambia. We do not just offer financial support but we are true partners, offering practical help, coaching and accountability to the school as it develops. Before Covid, we would visit the school at least annually but since the pandemic we have found other ways to ensure we are still directly involved. In many ways, this has actually improved our connection as, with everyone’s growing confidence with online meetings, we are able to meet more regularly to discuss the ongoing challenges at the school. One example of this was when the school discovered a serious safeguarding breach at the end of 2021: a teacher at the school had started a relationship with a pupil. With our support from the UK, the senior staff and volunteer team at the school acted swiftly and, in conjunction with the police, they pursued criminal charges as well as providing counselling support to those most affected. Since then, we have made staffing changes, carried out a full safeguarding audit, reviewed our policies and practices and involved outside agencies to raise community awareness around safeguarding. We are heartbroken that this happened at Nayamba, and even more saddened to learn how common safeguarding issues are across schools in Zambia. Fortunately, our direct involvement has ensured that at Nayamba, safeguarding is dealt with thoroughly and no stone is left unturned to ensure all our pupils are safe.
We have also been delighted that all our key sponsors now have more connection with the school. As we run with a 100% funding profile, with every penny of regular giving going to the school, we have no budget for administering the usual sponsorship schemes that larger charities run. However, our sponsors would rather we give their money to the school than pay someone to coordinate sending them letters and receiving letters from specific children. Also, many feel uncomfortable with the idea that some children might get regular letters while others don’t. Thanks to the pandemic, we saw the opportunity that Zoom could offer us and now we host termly live Zoom meetings where any donor can join us, meet our pupils and staff, ask any questions they have and see first-hand how their money is making a difference. The feedback from this has been incredible, with people feeling so much more connected with the school.
School developments
Despite further school closures because of Covid, we have been able to continue to develop the school environment. Sports have always been at the heart of the school, and this year we have invested in our outdoor areas, including some purpose-built climbing equipment. Internet connection is something that many of us take for granted and so we were pleased to support the school in connecting to the internet and being able to offer Wi-Fi alongside our new computers. This not only helps our students in specific IT learning but has been the most valuable resource for our teachers when lesson planning and accessing their own continuing professional development. As Agricultural Science is a core curriculum subject for our students, we have also added a community garden where all grades, supported by their teachers, learn firsthand, how to plant, tend and harvest vegetables and other plants that will benefit them. Talking with many of our students, this is one of their favourite lessons and teaches them such a precious life skill.
Lastly, 2021 saw us launch our Learn Global Project, where UK teachers can link their class or whole school, for a one-off event or for a full year with Nayamba School. This gives them access to a wide range of lesson plans and activities linked to both the UK national curriculum and Zambian life. This is an excellent way to help UK students understand what life is like for other children in the world who live in a context very different to their own. This also stops a fundraising event being abstract to the children in a school. They can see for themselves who they are supporting and the difference their support makes. We are now looking for new school partners for the 2022-23 academic year.
Thank you so much to everyone who has journeyed with us this year. We continue to be amazed at how much can be done with your help and generosity.
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THE NAYAMBA TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Treasurer’s Report
Despite the continuing challenges caused by a second year of the Covid-19 pandemic, the charity has continued to remain in a strong financial position. This has facilitated the planning of the next phase of the school development, the building of a dedicated preschool building which will hopefully be completed within the next couple of years if sufficient funding can be secured. Architect plans were being considered at the year end with detailed costings yet to be undertaken.
The Nayamba Trade Centre (NTC) has continued to make great progress with 6 new apprentices starting during the year. The reputation of NTC is continuing to spread and requests received for our qualified apprentices to teach weaving in other parts of Zambia. This is really encouraging given that a key objective of the NTC during the planning stage was to improve the employment prospects of our students. Demand for the products is also growing all the time. Despite this, the sale of products has not, so far, created as much profit as previously envisaged. This has resulted in NTC not quite being fully self-financing by the year end as had been hoped. Nevertheless, the funding requirement by the charity has been significantly reduced and the Trustees remain optimistic that NTC will achieve self-sustainability during the first half of 2022.
The ability to undertake fundraising activities continued to be hampered by the pandemic and therefore, the charity continued to be reliant on donations and online campaigns. The most significant of these was the Big Give Christmas Campaign.
Having taken part in this for the first time in November 2020, the majority of the proceeds (£13,354) were actually received after the year end and therefore fall into the 2021 accounting year. The Trustees decided to take part again in 2021 with all £7,614 being received before the end of the year. The effect of receiving the Big Give proceeds from 2 campaigns in one year does mean that the charity income has been more than it would otherwise have been and could distort the comparison of income figures from year to year in the future. Given that the 2021 proceeds were allocated to the capital project of the new pre-school rather than normal running costs, this doesn’t create a risk to the charity.
The making and sale of face masks continued in 2021 but at a much reduced rate from 2020. Despite this, a further £1,447 was made from this activity.
A very successful activity was the 100 Mile Challenge undertaken by a large group of the charity’s supporters. This involved them moving 100 miles over the course of one month by activities such as, walking, cycling and running and being sponsored by friends and family to do so. This raised £3,073.
The Trustees took the decision in the year to establish a designated fund for the building of the new preschool so that the money allocated could be clearly identified in the report and accounts. As already stated, the £7,614 from the 2021 Big Give Christmas Campaign was allocated to the building fund although this actually constitutes restricted funding rather than designated funds. The Trustees allocated an additional £12,000 from the unrestricted reserves to the designated fund taking the total available for building to £19,614.
The charity started the year with £54,460. Income fell by 10.8% to £57,179 whilst expenditure fell by 11.9% to
£42,321.
The result saw a gross profit of £14,858 which boosted the year end cash balance to £69,318 although only £22,882 represents unrestricted reserves.
Whilst the cash balance has risen, the level of unrestricted reserves has fallen sharply due to the allocation of reserves to the designated pre-school building fund. Despite this, the level of unrestricted reserves remains within the 6 – 12 month target range of operating expenditure set in the charity’s reserves policy. The Trustees feel that the current level of cash represents a reasonable and prudent level of reserves going forward.
There were 2 Trustee retirements during the year with one new re-appointment of a former Trustee resulting in a reduction to the Board to 8 Trustees. The Trustees regularly assess the balance of skills of the Trustees and feel that the Board has a sufficiently broad range of expertise to ensure strong ongoing governance.
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THE NAYAMBA TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Whilst the running costs of the charity are minimal in the context of the income received, the Trustees feel it is vital to maintain the 100% funding pledge to donors. This promises that every penny of every donation goes to help the school with no deductions for administration costs. In order to meet this promise, the Trustees make personal donations to a dedicated admin fund to cover the running costs of the charity.
Our supporters and donors have told us how important the 100% pledge is to them and the Trustees are committed to maintaining the model going forward.
The Trustees' report was approved by the Board of Trustees.
Mrs V Pestridge
Trustee Dated: 14 June 2022
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THE NAYAMBA TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NAYAMBA TRUST
I report to the Trustees on my examination of the financial statements of The Nayamba Trust (the charity) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do 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 financial statements to be reached.
James R Banks FCA Hammett Spire LLP
21 Heavitree Road Exeter Devon EX1 2LD
Dated: 15 June 2022
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THE NAYAMBA TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 2 36,146 21,033 Expenditure on: Charitable activities 3 16,910 25,139 Other 272 - Total resources expended 17,182 25,139 Net incoming/(outgoing) resources before transfers 18,964 (4,106) Gross transfers between funds 6 (28,499) 28,499 Net (expenditure)/income for the year/ Net movement in funds (9,535) 24,393 Fund balances at 1 January 2021 44,417 10,043 Fund balances at 31 December 2021 34,882 34,436 |
Total 2021 £ 57,179 42,049 272 42,321 14,858 - 14,858 54,460 69,318 |
Total 2020 £ 64,122 |
|---|---|---|
| 47,656 | ||
| 363 | ||
| 48,019 | ||
| 16,103 - |
||
| 16,103 38,357 |
||
| 54,460 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE NAYAMBA TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Income funds Restricted funds 6 Unrestricted funds Designated funds 7 General unrestricted funds |
2021 £ 69,318 - 12,000 22,882 |
£ 69,318 34,436 34,882 69,318 |
2020 £ 54,460 - - 44,417 |
£ 54,460 |
|---|---|---|---|---|
| 10,043 44,417 |
||||
| 54,460 |
The accounts were approved by the Trustees on 14 June 2022
Mrs V Pestridge Trustee
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THE NAYAMBA TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
The Nayamba Trust is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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THE NAYAMBA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
Donated goods and services for resale are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Services and time given by volunteers are not recognised. Stocks of undistributed donated goods are not valued for balance sheet purposes.
1.5 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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
The award of a grant is recognised as a liability only when the criteria for a constructive obligation are met, payment is probable, it can be measured reliably, and there are no conditions attaching to its payment that limit its recognition.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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THE NAYAMBA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Donations and gifts | 36,146 | 21,033 | 57,179 | 38,703 | 25,419 | 64,122 |
3 Grants payable
| Grants to institutions: Nayamba School - classroom and buildings Nayamba School - teacher/student Nayamba School - food Nayamba School - resource and other Nayamba School - Trade Centre |
2021 £ 13,286 23,949 1,190 - 3,624 42,049 |
2020 £ 11,778 12,194 2,008 14,814 6,862 |
|---|---|---|
| 47,656 |
The charity ensures that 100% of public donations go directly to Nayamba School to support its work to deliver its charitable purpose.
4 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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THE NAYAMBA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
5 Employees
| The average monthly number of employees during the year was: | ||
|---|---|---|
| 2021 | 2020 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. |
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| Restricted funds | The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: | Movement in funds Movement in funds |
Balance at Incoming Resources Balance at Incoming Resources Transfers Balance at |
1 January 2020 resources expended 1 January 2021 resources expended 31 December |
2021 | £ £ £ £ £ £ £ £ |
Food programme (69) 71 - 2 - (1,190) 2,500 1,312 |
Teacher/Student sponsorship 2,695 19,611 (12,265) 10,041 13,798 (23,949) 25,619 25,509 |
Trade Centre Project (648) 5,737 (5,089) - - - - - |
Athletics Academy 11,337 - (11,337) - - - - - |
Pre-school project - - - - 7,235 - 380 7,615 |
13,315 25,419 (28,691) 10,043 21,033 (25,139) 28,499 34,436 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 |
THE NAYAMBA TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
7 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement | |||||||
|---|---|---|---|---|---|---|---|
| in funds | |||||||
| Incoming | Balance at |
Transfers | Balance at | ||||
| resources | 1 January 2021 | 31 December | |||||
| 2021 | |||||||
| £ | £ | £ | £ | ||||
| Pre-school project | - | - | 12,000 | 12,000 | |||
| - | - | 12,000 | 12,000 | ||||
| 8 | Analysis of net assets | between funds | |||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| funds | funds | funds | funds | ||||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | ||
| £ | £ | £ | £ | £ | £ | ||
| Fund balances at 31 | |||||||
| December 2021 are | |||||||
| represented by: | |||||||
| Current assets/ | |||||||
| (liabilities) | 34,882 | 34,436 | 69,318 | 44,417 | 10,043 | 54,460 | |
| 34,882 | 34,436 | 69,318 | 44,417 | 10,043 | 54,460 |
9 Related party transactions
There were no disclosable related party transactions during the year.
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