Charfty rngl¥tratl¢)n numb•r 1165845 THE NAYAMBA TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE NAYAMBA TRUST LEGAL AND ADMINISTRATIVE INFORMATION MrT Pe8trldge Mrn V Pestridg• Mr J Pethgri MI L Mayor Ms H L Honan MrJ Br J Hts)wr O Wnfi•hJ Charlty numb•r 1185845 Ind•p•nd•nt •X1•r H•rtThtt W'r• LLP 21 He4vllrn• Road 12LD
THE NAYAMBA TRUST CONTENTS Trustees. r•FQrt IndepwJ•nt eXn$ (•wt St•tem•nt ofllnand•l B•lanc• *w•t N¢Jte• to th• ftn•nd•l 8tat•m 9-15
THE NAYAMBA TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The TrLMteoJ presont thelr rewl And accwt)ts forthe year orrtS•d 31 2023. Th• a¢¢ountts have be•n prepared in a))Ndanc wth thtr ac>>xnting pdiciti¥ Sel LryJt in n¢>ts 1 tr aUnts and cornpty vAth the ¢harity'$ ConslOn, the Ch¥Mle8 Act 2011 and 'ACtOlIng and Reportlng by Charib'e•'. Statement of Rowmm&ThJgd Pra¢tl¢• appIable lo chariUo$ proparing thoir acwunts in w3)rdance with th• Finandal ReFalng Slandard 8ppticabl• In th& UK and Republic ol lrnland IFRS 1021 {df•ctiv• 1 January 20151. OblgCtlv•• and a¢tlvlth• The tharity's oblects e to adv4Thx guth ¢h•ltbkn wrpowry (•crnrdirvJ to th• l•w Ewlantt and 10•) th• Tru$t••8 8•• fft from Ilme to time in partiuJar but nol Ilmrt•d to acfvwcAng th •Yu¢tion of young peopl• for tho puWlc benefit by rn0n9 grants lo x¢)018 and lo knJd•nts. The tharlty shall b01 in ¢u$•r not ox¢lu8lv•ly, tho powlatkn 8urrouThllng the N•yamba SdKol In th• ch1mba reglon of Zambla. The Trui10 h4v• PASd the reprd tr> guldwmx l••uod ty tho Ch•rity comnl1on In d&4dlng whol aGtivlilo• th• ¢hadty 8h¢xld undertako. AGhl•v•m•nts and p•rform•n Th• achl•v•m•nt• •nd p•rfDmianc• ol th• dwrfty •re •ot tyjt k) thqlmwn'• And trats r•port• that follow. Flnanclal rnvl•w 11 IS the pJicy of th• ehaflty thAt unrwld¢Aad ftdI V•Hth ho¥• nol b••n 19n•ted tr • •pe&Tr •hould bo mainlalned al 4 lev•1 Oqulvalent lo pjx and rTr)nth'i èxpendrture. The Trustses considern th41 resoni•8 al thls level I11 en8urn that, in the event ot a 8lgnrfthnt drop In lunding. th&y wlll to o)rfnu• th• charity's currwnt activ•5 vthil• con8Kl•r•tlon i• giv•n lo way• In 1¢h additior1 may Talbtsd. This101 ol m••rve• b•M malntalrnd throughout th• yw. Tho Tru8l•u hw• •M•sged t1 major rtJk• lo whkh tharity h •xpowd. •rAI 4r• that •y8t•m8 In plac• to mttlg•le •xpo•ur• lo m•jor rkjkn. 8tructUlPi gov•rnanc• •nd m•Ng•m•nt The charfly is 8 CharIlae IncorF18(J Oryanl•aUon (CIO). reglst•r•d ¢)n 3 MATth 2018. Th• govemlng docum•nt 18 t con8111ution •nd 1118 govemed by ft8 chity Tru•ts•8. Auet8 are v•$t•d In th• CIO Its•ll A¥ • ovrppTate trcay, not In Tru•teM p¢i•w•Ny. Th• Tru•g9 who wvwj durfry th• yw •nd up to th• dale of natLn 0ftr finandal •tat•m8nt8 were.. Mr T P88¢rfdg0 Mr8 V P&¥trtdge r J Pethe Mr8 M P•th•ri( Mg L Mgyor ¥HLHonan Mr J Brook•8 J trknp•Y A Mackereth O Wnfi• IR•xd 18 Juty 20231 Th• Tr(t8t••8 aro appoSnted and rn))oved by maJth. Nono ofts Trust hm ¥ny beneficid intere In the CIO.
THE NAYAMBA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Backgrnund Nayamb8 Primory S¢wl wai fourKS•d in 2007 on Nagwa8a Fann In tho Ctthmb# diotiicA of Zambla by th f4rm ¢M&rs. 11 estsblished w'marfly as a gthool to educate l¢)¢g1 childron who liv4 wthin the surroundln9 farms and the for ar•a •rKI baUse of di414¢ cost w•r• r#)t ac88iry any •dLKation. Vl•lon It 1$ t Of1 8¢hod founder¥ th•t th• 8t•ndaTd of educ•tlon gv•llabl• to thlldr•n In th• orea is at least aB good as that available lo tho8e able lo 8ffcYd leè payi sthod$. tt18 also hoped to be able to 8xpand the hool fa¢ilth•¥ ond, in limo. ¢xeat• th8 ¢)Ppun1ty for lo kYOWM• 911 th• w•y through thg •duc4tkn Ay8lom- from pr•school og• lo beyty)d Mcfjnd8ry Sy. Ch•lr r•port 11 li my 0¥u to prnwl the Ch•lf• r•wt for 2023. TN• bwi a y•ar char•rt•rf8•d by tsJnn•¢lon, long•r-t•mi 8tratoglc pl•nnlno. •nd •u8taln•d After lour y••rn. ttr• we hav• bo•n unth to phygk•lty 1 th• #(IN)ol to Covkl, rntylng M regul8r onlln• m8èting8 instéad. we wero overloy•d lo b8 lo t¥kè a team af 12 vo¢unt8OfS to work al t 8chcd. s h•r• for our trip hlghlighl$. Thi8 Inp w8¥ a wonderful OPF¢)rtunty lo en¢xuraga the sthool Staff and students and celobrotg 811 the progr888 Ihty hav• madt. wern al80 to ènrith th•lr rriCulUM vllh crafts, Ngby workshoy •nd •d•rKo actNill•$ whilg al•0 yDvlding CPD lo twthers ¢)n SLPP)rtirrfJ Mental Health and Tem Manag•m•nt particularfy fooJ881ng on Confli(a Resolution S11•. S•• our tn'p hlghlights re. (htLoLU hll•t In country I w4• allo Abl• to rwl wlth h•d•m•n. And ••nlor 8t•ff and PTA to evalu3le our ongoing str•tegi¢ prityftrej. li8t•Nng lo th• rthd$ identified by thfj •lak•holder8. l al•0 mel th )Jrrent and pot•ntal tharrtable partn•rs have exFert18e areas of •o)nomlc and agriwltural developmonl wth a view to worklng tO98th•r to fijrlher devdop the Commun08 swvod by Nayamba sch1. 11 18 tho abilty to bè w conn•ct•(I lo the lthool dlrKty and lo th• wder comnwnty that enabl Th• Nayamba Trust to mak• guch 4 tsrgot8d and wsl8lned imp8d through our fvndlng plan stralegically.Thl• trlp on? arga we [dtiff•d w•s the n••d to 8UPPOrt the 8d)ts)l and rAMmunrty In tacllng the high 1gvel$ of toen proon4nde8. Thia 14 4 complex. MU1•18d th•llonge aL¥o¥¥ tho o)unty c>nftl¢ng opiniixli r•garding approac$ and wlll ¢onnu• to a hi9h for Th• TrLMt Th18 year w$ hqve b8gun fvnding enrkhment c4mp8 for arKI to reward gc#)d att•nd•nc• and commitment lo $¢hoollng 48 well 4• proMd• a pLqtromi o(kKating in the J•n•itiv• r•As. W• h•ve also Idded a sthool reward sthem8 w8J fv sthcol to r8iw up c•lebr•te rc4• modeL8 who ar• committed to th8lr18amlng a¥ well as Invib'ng fema rok• mcJel8 vtho hav• stsy¢d to th&ir 8¢ho)Ilng, to SFwk to th• stud•nts. have •180 intrOdd a nv4V scholarship prcgramme to •ncx)urag• #udents lo rnmaln In educatbn post Gr•Je 9. In 2024 w¢ hope lo wppryt the schod in a tespoke enrithmonl cyjrriculum that through loamer centred ertgaging acthtl88 and d1850r ral8e asrat8. tathje tox 8tgreotypes. and •ducate8 0118tudwt$ on al11n0 18mt ri8ks and r•athlrvJ th•lr Wontial. EduCaOnty the achool h98 bo•n I0rj on 11$hIng l)oth a phtiTMC• progr8rrn thgul all grades and 4 robust annu41 lor mnitorfrKd •ThJ feedbxk wlthin the Slaff tgam to Inyrow standard8 Sn te8thlng and l¥amlng. Earfy In th¢ year. many thlklren in the rrndIng ar•a8 wer• h1•ntffied 86 not attenthng any sthool locakn. uik0 governff 80kn18, Nayamba ¢yrates a MmM da88 of 32 and do not have capacty for new ud•nts. It18 h)p•d that vn ¢an ¥xpand ¢4p•)ty by vrtxkirvJ %Mth oth•r pafthers to •XP8nd 8¢ho)ling proVIOn In the nthghbourirpJ tDre8t 8th1. It wa8 al80 ob¥•rv•d Ihot a per¢ents9e of the ¢ommunty 1$ transnt and n+N studwrts may iCAn Nayamba ts older gr•Jes whèn thoy have moved to th• ar80 but have n•v•r 8ttended h¢)I before. Thi8 18 a ¥ignrfic•nt (*Inge to dass teh85 and has 0 big impact on the ragt dtht dals 48 well a8 lo%ring th8 Trvkn58 of the cknikl who 1$0 V•ith 8uth 8 lafge108mirrfJ gap.
THE NAYAMBA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A8 a result, w• have fvrAted gtaffiry and r•80uwA fc¢ an l••mw FWOgrnnThè. d•lty 11 groltp Intervèntion in literacy nurMraGy lo 1p new c4der arnerS master the basics as quickty as possible to thrfv• for the re81 oftheir SchoIng. were 80 pl&atsd thatAnn and Chart&8, UK volunt80rn. were able to give 7 months to the sdwl to 6$18blish thi• Ind 4)thef Inlll&trv•B thra yw. Hlslorl¢atly. Nayamba has had an •Stabltted tr)re te8m ol 8tff but found It rrw• thlknging lo ablliJo o wld staff l•am, th many 8taffing change8. HIY, th18 ygar stafflng h86 been mud> o)nii$tenl. Th18 1$ In part to th¢ ?chool'# ex¢dlenl leadmhip in part du• to l1ved 8al•ries, ToUr6. tralnlng opportunIe¥ arKI1[n9 CondItt¥. Thi8 •nable8 WF418 to from th• trnlrY4 •rxl InStme y'¥•n to teachrn. As you wlll see from our ITeasurer'¥ rep)rt, w• remain in a Im fi¢)01 poortw. I would Ilko to pe1011Y thank all th who ha glven gentrSty lo th8 xhcol to enable w to ntInUe to mak• Buth a drn lo the 350+ childrgn and th•lr famili. Many ofth•8e appgar in wf tr08eurer's r8pDrt but on• that was particularly ealive a new pgrtnership Ex•ter Chwfs R(uby Club. Ong of our volunt•èrn. th018 an avld Chief• lan, t¢ok out $pon8or•hlp through th¢lr ym compwy. for onts of th•ir •Y•r1. R¥ther Ihan ung thlj pltlorn for th•lr ¢¢mpany'• pl¢nlIOn, they donatad in klnd th18 wonde1 Flat17 to Nyamba and w Nay8mba Sthool l• now youdly promoted by Exetor Chi•ls. hélplng us tell 8kny orKI syead the of thè kncrndibl• Ildr•n •nd 6t8ff at Nayamba. In 2023 1)ver SO% of tyJr eXpendre, arKI by f•r our w••l•it s)xl wt fc larI•l our fcLxI wDw4mm•. We have al Inv••t•d In an overhaul of the 8dwl wi• to Wre a VIe da•• al 4 ts'mè •re able to acu$8 hand• on l•aming 16 working MmkWt•rn. kn kY•vknu•ly m8nJoned. Inv88tod In annual glrf'$ and boy's mpl, a schcd IneoMiv•s s¢h•me and xwlarBhip• tr adeMIC Jtudents groduotlrKJ Gr1• 9. wh•r• Nay•mba ¢urr•nlly •nd8. Our pr•athcd p)t of ftJrKlin9 from th• pr•viou• yAr vms allo¢ot•d to bulld fvrth•r l•achw cMm¢d•00n Jo ltst we •mF4oy ¥ full Um• qlIfl•d Earfy Yearn practhMrfor both pr•lL#1 and rocepllon $h8rn th• 8aM room al drff•r•nt tim&• of th• day. Th58 1•oth•r'$ lary for th• y•r w4$ also taktn fn>m th1• rel¢1•d fund. Rwnainlng fund8 ¥• nOd to upgr8d• our ln¥ w&ter prov10, •nL4r9lng th• tsnk •nd •tand •0 w4t•r v)uld bo 8tornd to cmwiMte br da whore larw not •n¢xwh to cover walor d•mAnd. h•va also L¥>v•r•d 088erfal r•p•irn and mntenc• to the wi• •nd c4)r• r•toura•J for th• d•uroryn8. One olour donorn fuThJ•(l • Buffalo BW for our c•r•trk•r to be 8bl• to trav•1 lor errand• mor¢ easily. In the UK, for our wvemance, we werg dglvJhtwJ to lCom• thre• now TrLt8t8e8 to our team. bas•il on the ba18n of S11 they brtng. Th•r• wo8 al 1 Trustee retir•m8nl at ourAGM due to Irv91n0 f4mlly mmilm•nl8 Thi8 Trust89 had also been part ot the Trust 8hc• Tts formallon and 80, 81 per our pc41cy, woukl h•v• $oon n•èded to tAk• a y•ar bmak ## Tru•t•• b•for• b•4n9 ¢onoid•r•d for r•appG4ntm•ni Flnl8hlng 2023 In 4 thg po¥rUon our2024 prlorrtlo• WIH b• thr••fdd.. 1. to ¢ontinuo to •U8tain th• progr• wlthln the adwl. tacling th• •duon81 rawll•ng•$ fgc•d tl)rough th• 4rx8lffat•d l•am•r ar¥J Who 8o)rA phortc8 prooramme, Nsing hoFe irdfjaYve8 lo ke•p all ¥tudonts In xlwxl, SEN tsainir@ and Menlal Health I PSHE be8poko curyi¢ulum dtsvelopm•nl, 2. To en$urn w¢ Gan BUFPOrt cor• xhod u)•l• ts 12 Tr1th ty •thuardwig against Guff•ncy fluctLF4tion• through inueased r•TY•s. 3. To fund the ngces8ary sthool expansions to buikj capaoty for •xpandirvJ into Grgde 10 to bo In Iln• vAlh changing aTrJ exarnin•tsc418tag88 proF0 by th• Zamtxan govemmont for 2025. My he9rt1• thnk8 to •veryone vtho L¥rn8 8ttyJk this WnderfUl xh¢¢4 ther you give yourtlm•, en•rgy, ftn4n¢X$, 8killB. or vd¢o to help promote U8. we couldn't do what v do, %%lthout yr hèlp. H8ving 91t•d th• achod thi$ year. l Can assu¥ you, l am in no thbt that you wo ianging INes for the b8tter and wo can only bogln to Im8glne the taffterence the leo8ty r4ant•d Inb) th of our students wll make in ZartN'a. Thnk you.
THE NAYAMBA TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trw8urnr Roport Thls 1$ rry Ilr¥l rryort trearer •rKI trLtsb ofth8 Nw/on4 Tnt and I hav• bwi ddlghtsd lo volunl••rto $upp)rt th• •d)tr)I In Ihl8 way. My thanks go to wevious treawrer her fantssllc stthvardshlp ofth• ac¢ounts whith ènsuifjd wg wero • $owre flnanud Fowtion St the $18rt ofth• y¢Ar. Orn olour prfodI88 forthl8 year was to Ilnd addftlc(Ml to Jupport tho sdwl. aro dellghltd that, •long8ld• Ihts John Ca8$on Found•tion, who cx)ntinu•d to ¢trI1 twrds tsvo ts•ther 881•rf. Njimba Fami¥ have al80 ined In Cbu11n9 toward8 furthr sath. Njimba •re A * enylw In the ar•A aNI roiwty 80 chlldrgn of their emF4oyeo8 attd 8choc4. Tho 8chcol hw• aloo b••n <••¥11 Irt re1j sm•ll r•wurdng gr•nt• from Ic>l qovemmnt and g1grg0 c•pltal grant from Bell Trust to develop mud) needed. ¢MFle acs)mnTrJdatlon for ryjr •ppr•nts'cfr• of th& Trade Centr•. The Nayambo Trnde ¢•n li n¢YH seW-su8taining, covering it8 Salary oi•ts arhl malfjsial8 from tho profits ofllbms made. Th1$ year tho C•ntre has reinv8s¢•d profits to expand and matsrialj and equipm•nt to •yp4nd (¥JW to & that (n more rKofft#blv. Our maln fundralslng project ftr 21723 wa• Gw campdgn Wh rai8•a £8340.52 and, th18 oIIoc41•d tN8rdg our cor¢ runnlng co818 indudlng a{1donal inve8trnwrt in wr and 4ri¢ultur41 proj•rt dov¢loprn•rt at the •dKol. N4yambA Tru h•• al•0 r•c4vp•J 81gnffic4nt (*x)8YM• from p•vJon•l donor• •nd 9r#nl gfving bodlM. W•le 80 gratefijl for th• aw•r(18 Of £50(Kl from tho F•rthlng Tru8t, £1000 from tho Franklln Trusl. £500 from St. Matthew's Church and £480 fr¢m Plorth•rd 8l$hop Methodljt Churth. r•ly •v(lY on Indfvldual6' gen8roJlty
nd would lik• to PortilartY thank sig & DavKI for twr £4000, Salty lor hor £3500 and •nonymou$ dor
who ggw £1000 re8Feth•ly for our trYS and r•Jour(x8 fry our visit. w•r• 80 mov•d to hav• £1408 donat•d In m•mry ofGrahAm P••trtdge. • lortrtemi $uPFrtef olthe xhool who di•d In Jun• 23. are d••ply thankfi lo tho•• 91 •th m¢)nth to 1P c)r• eo•t•. r•gular donors h•lp UJ b[98t ahgad th grgater confld8nc•, knowwhg vth8t regul•ty P9•d. At the •tart of 2023 we had 41 r8gul8r donors 9llng * lot81 of £16,V20.00 and by th• end of the y•arv• W 43 rogular donorg gIn9 totol of £18,540,00 year. Over th• C4)Ur ol year %WJ N)st a QJUF4• of doTr)rn forvarfou8 reag)n, howevor w• wer? lo add four new dorKrn and th•4r addillond (kThborA trnant u• M•lr4 an Ir¥• of £1620.00 p•r y•r. Overall. th• ¢h•rtty 8L9rt•d th• ye¥wNh £72,224. In(x)me {nuad by 21% to £51,222, eXdItuT0 allo Intr••d by 2146 to £47.467. Thiè r••ylted in • t)8t aUFF4uJ ¢rr over exp•ndttur• 01£3,76J maklng tn• y•ar •nd reserve$ balanc• of£75,989. (For a bre4kdovm of h¢yN morMe8 hove boon sp•nt so¢ c•lr'• r•port.I v4ithln th18 b•1fjTh we h•w £25,056 F4•d9gd lo th• to lye r•l••wJ a• rIpts are 8ubmltted for agreed èxpons88. The1gv•l of unrestrithd re89 rmain8 Wthin thè 8- 12 nnth OFerfing •xpondrture l•vel8 8et in tho artty's regeNtB poly. The Trustse8 fo81 that Ihg GurrMt of¢ath r¢pre#ent8 a r••sonabl• PrUdt level of rfjwr golng forward. In 2023, due lo the high lov918 01 Infi•tion wihln Zamb¢a. took th• dècision to off•r a ftirther $8lary Int0 to our 8tsff. DL59 10 the TTent exth4nge rnl• th18 rKI yet rosuw In an Inma8e In our operaténg c08ts but. 8hould th• kw41cha rotym to Iov+Wt Tate In 2022 of ZMK1741 thi8 WQLld intrea8• ourannual ts)sts by £30,000. ilst the Nnning Oft crrtY Vlilhin UK are ffinimal in the cryrt•xl crfth• inwn• r•cON•d, the Trustee8 feel tt i¥ vrf¥l to m8lntsin 100% fvnthn9 pledge to donors. This promi8e5 that every penny of ery donSon thal o)mes lo our %r4Junt w to help the scoDI no dAuctions for adminlstration costs or marketing elc. To meet thls prornlsg, the Trustfjos nHke personal donations to a dedic8ted admln fund to cover the running costs of th• charity. Ihis year sp•nl M insurance and tran8f8r fee8. In addOn to this one trusteg 0190 don8les subsulp0n• for Ounti1¥j Sorrn thrngh Sage file storage through Eyopbox aThJ another our ongotng website hosting fee8. Our 5UPPJrters ond donorn have told hLYW Irrtant the 1(MYh pledge is to thom 4ThY the Tru8teeB arg Committed lo maintainln9 ttie m¢Jdel goitYJ foThv*d.
THE NAYAMBA TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Tho TnwIfj' report w4$ approvod by ts Bo8rd ofTnrnleo8. Mrn V P••trl Trust
THE NAYAMBA TRUST INDEPENDEwf EXAMINER'S REPORT TO THE TRUSTEES OF THE NAYAMBA TRUST I to th• Tvust8e8 on my •Xthnlti of th& ststwngth of Th• Nayamba Tru81 {the ch8rity1 for the year ended 31 De¢•mber 2023 wlch ¢J)mwi8è tho Statement of Flnandal ALwti'èB. the Balance Shèèt •nd r•loted notes. Thi$ roport 1$ mado lety lo t tharfty'$ tru8tee8. a$ a ty, in ac4>Ndarxe 7WI 145 of the Chgritle¥ Act 2011. My work hqs bg•n und•rtaken 80 that I migm stat• to ¢harlty'8 truste0$ tho$• mattors l •m r•qulred to 8tOte lo Ihfjm In thi8 roport ond no oth•r purpos•. To th fulleBt extgnt pemiltt•d by law, I do not •c¢•pt or assum• r•8powbtlity to anyon• oth•r than tho tharlty and the biJ8t•08 a bodj. lor my worf(. forthis rnport cf for th• cpinbns I havè fd. R••pon•lbllltl•• and of r•port As the Tru8tees of the tharily you are rosponslbLg for the Pr ofth• tlnandal 8talthn•nts in accorda th thg rwulrements of t Ch•nllg4Act 2011 Ilhg 2011 kl). I report In r•sp•ct of my •x•mlnation of th• th4nty'8 fin8ndal 8tthments Carrf ¢>A unO&r Section 145 of the 2011 Act. In carrylrg out my 8X4nntk9n I hove thg ¥pkOble Dlr•&kn 9fv by th ChArtty Commlulon under secti¢ 145{5Mbl oflh• 2011 Act. An lfid•wd•nt •xarrin•tkn do•• not Invol¥• all th• •thd•nrx thal Vlruld h r•wlr•d In •n audli 4nd eon8equenlly does not cov•r 1 thè m•ttern that On 4rtLy ldorn in gNir4J th1 opinion on th• finlI Blalements. Tho planning and condLtct ol an I11t go•8 tyond the Ilmw amUrar Ihat an Indopenderrt •xamlnathon con pwdè. Conwuonty l exprw no opinK•n 0$ to whgthw th• finAnc441 $talements pre88nl Irue and f8lr' •W and my r•port is Ilmtted to speafic matters * (Nrt In the ind•wnd•nt awinw'$ •ta16m•nt. Ind•p•nd•nt •xMilnrf• •tstsm•nt I havo complthd my MInatiOn. I confim th•t Th) mattern C•)m• to my allIon ts) winecllon w4th 1 omln•llon glwng m• c•u#e to b¥lev• that In Ary mth81 mp¥ct aountn9 r•c¥rdi wer• nol kept In regpe¢t ofth• dwrty as requ11 by 130 oftr 2011 A(.. or th• flnond•l 8lalemtrntJ do ntx •¢x#)rd wth thoBe rwd$," or Ihe financial statem•nts do not ¢ompty wtth th• opp1 requlrem•rrt• ¢ttnmlng tho form and content ol &CunIS Set OLrt In th• Chartts8 {Ac(x1ts ¥nd Report8) R•guI•ts'on8 2008 oth•r Ihn any r•qulr•m•nt that th• aca)unts gbv• • tru• and f•ir ¥l•w vthlch h not * m•ltor Cryr0d a• of •n hid•pend•rrt examlnalon. I h•ve ng ¢orrtms and h•v• come ¢rn M othBr matt•rs in tt)nnxkn wlth th¢ oxnln•ilon to whi attention should b• dr8Ym In thi$ In dr lo enth 8 Fwper und•r•tar1ng of thg fftngnc4al statom•nts lo b• re4th. Jam•8 R Bgnks FCA H•mm•tt Spire LLP 21 H•vltre• Road Exoter Dèvon 12LD 07
THE NAYAMBA TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 T•)tal Total fund• 2023 funds 2023 2023 2022 Don&llon8 and l•gad 41,525 9,897 51,222 42.282 Charilablg actlvM•$ 21,912 25.343 47,25S 39.071 Other 202 202 30L5 Total r••ourc•• •xp•nthd 22,114 47.437 39,376 Not Incomlngll¢utgolngl r••our¢M b•for• tr•n•l•rn 19,411 {15,8481 3.785 1908 Gro•e tranth botrNwn fvnd• {8.9891 Pl•t InG•1{•XP•nd5tvrn1 ftr th• ymrl N•t mov•m•rt In fund• (22.815) 3.786 2.908 Funej bpJanLX• at 1 JanIry 2023 48,822 23,e02 89,318 Fund balan at 31 DK•mb•r 2023 75,002 75,989 72,224 Th• •talwrnnt rf fln•nd81 Indude• all gainj WKI lo1• r•c¢4nlMd In lh• y•Br. rh• t4t•nK•nt olflnandl Indud•• All loM•• r•wnl••d lft th• y••r. Al Inoom• and •xp•ndllur• d•rfv• trom tinuIng •clvltl•8.
THE NAYAMBA TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Curr•nt ••••ts Debtors Co¥h 91 bank and in hond 4.192 75,530 72,224 79,722 72224 Crndltors: amounts f•lllng du• wllhln on• yr (3,7331 Not current 75,989 72.224 In¢om• fvnd Rostrfded fvnd• 10 28,802 D8signat&d funds General unre8tffj¢t•d 1190 72,812 2,111 46,511 76,002 48.822 76.989 72,224 %. l A.1 i..... The #(xounts w•r• approvod by th Tru•te•8 on .. Mrn V Ptslridg¥ Tru•t••
THE NAYAMBA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcl Charlty infomiath Tho Nay4mba Trust 18 a Charltth Iricrypryth 0•tion. 1.1 Accountlng conv•nllon Th• financ4al 8talom&nts hav8 bwn pr•par•d kn acoJrdarK• wmh Ilx dwrilY8 gov•mlr4 dtlM0nt, tho Charttifjj Act 2011 and 'AccounflrvJ TrJ Rep)"nI by Charfl•8'. Staloment of Recomnded Prartic• 8ppllcable to (8r¢b'e8 preparing their a(xwnts In 44Y4Jrd8nc• with the Fingwal Reporttng Standard applicable In thè UK and Republlc of Ireland (FRS 1021 {•ffectsv• 1 January 2019).. Tho charfty 18 a PuNi¢ Benefit Entity •8 deffin•d by FRS 102. Th• chadty ha8 t8ken advantage of th? tn th• SORP lor ch•rffje8 apptylng FRS 102 Updakn 8ull•tin 1 not to pr•par• a Stat•m8nt of Cash Fltrln. Th• flnandal 8ts1om•nts hw d•p8rt•d from t ChArili•8 {A¢Unts And Roportsl R¢gul8Uon8 2008 only to the oxt•nt r•qulr•d to prdfj a tru• falr vthv. Th1• d•p4rtur• invow follovhng the Statement of Rocomm•nd8d Practi for ckn•rth•8 apFtyINJ FRS 102 rathw Ihan t ver81on of th• St8twnènt of Rec¢mmondod Prac1 whlth18 referred to in th• R•gultions but wlmch sin(xi boen wllhdrnwn. Tho )Inandal 8tstem&nts are prepared in ¥t•dlng. whlth Ki th• fw)ctknal of th• ¢Wty, Mon•tsry amount8 In th•80 fin8fflckg1 staterrrfnt8 are Tounded to nr•$t £. Tho fln8nd•l statwmnts hsv• b•en prep4rJ under the e•l cost c%Jnv•nUon. ImdM•d lo IlUde th• rovalugllon of fre•hold proyrtl•8 8rKI to hdude Invtrnnt prof•• and rL91Th trlnanclal ntrn9nts •t fAlf v•lu•l. Th• wn&pAI #cawnlng polN •doO•d #t bokx. 12 GoSnq con¢•m At th• tlme of Approng #c£1n, the Tru8te•8 hA¥• • r••b •xp•rtatton that th• thgrfty hats •d•quate lo Cont5n in opwalonal fjxloncé for th• fwe•abkry futur•. Thus th• Trn41tg08' nllnu• lo adopt th• gdng bo81• of)?nI1 in w•parlrg acc. 1.3 Ch•rltabl• fw Unre8thct•d fijnds we w•il•t4• for at th• ol th• TruBta8• In fvrth•r•tx• of th•lr ¢hrn•bl• oblgCtSve$. R•stdcl•d funds ore w¥ect to 8p•dftG Cdlon8 by donorn or gfanth a$ to th•y MAY b• Ud, Th• purpo808 and u••8 of the re¥trKted ffijnds e ••t out In the notss to th• fin•nd•l ¥tatenI8. End¢Jbwn•nt ldi w• to •p•dn¢ irhilon• ty ¢xw• tr•t th& ¢tsl hxMI b• malntsln•d by th• charfty 1A Ineom• Incom18 rfjcognl$ed when the iarity1s18galty to it after ony p•rfrrnTrx CorMI0n8 have b•on met, thw onl)Lts can bo mwJurgd r•lWy. arKI it l• Prob*0 tst Incthrn be ro¢•Ned. CaBh dwgtions 8re lejnisd on Othw donaiong rthxgnis•J On the tharity ha8 b•gn notmed of the dcnation, unlo$s porformarth condtions require defenxl of the arr1Th Income tax rocoverablo In relailon to donation$ recewed under GfftAid or deads of o)v¢nant Is reccgnised at the tim& ofth8 donation. Log8 ar• recogni$ c4) reIpt or If the has been notined of iilwiding dbthbullon. the 8mtyJnt is knrmn, vthd receipt 1$ oxpected. If the amtyjnt is not knMI, the legacy 18 treated as a contingent a89oL
THE NAYAMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounlng polkl {Contlnu•d} Donattrj oJod$ servlces for resth •re r•cogn18ed tY ¢)lstrlbut&l. AJ#ets given for u88 by th• oharily are re¢cgni8ed reIvable. SeNfM and tim8 gwen by voluntser? are not r•Cc¥nld. Stocks of undlstrfbtjted dthmted good8 •r• not valu•J for Wanc sh8•t purpow•. 1.5 Exyndltw• Exndre 18 T8cognlsod there [8 8 legol or ts)nstr rtllgotlon to tran8fèr Kmomk benefit to third patty. it 18 probable that a tran$f•r ol onoMIC beneffts wll b• reouirnd In sotugmenl, and the amount ol th• obllgatkn c) b• m•awr•J rnlw. ExF4ndttur• is d•s8M•d by 4ctivity. The costs of •K ac"vlty ars nwdo up of of dIrt C08ts and $hared cogt8. Indudlng support o)8t8 Involved In undértakino eath xtivlty. Dlr•d costs attrtbutaLl• to O 8ingl• •¢b'vity are allocatgd dlr•¢lly lo that aclpAty. Shared costs thlth corrtrfbuto to more than one acUvty and 8UPPOrt tsJ8t8 whK not atrlbLrtabl• to a •clNty •r• 4r4)ortion8(I botwe•n th089 gdlvltig8 on g baBIs ¢onsl8tsnt wlth the use of Url. Central 8taff g)sts are auocated b•8iJ of Um• spont, and •prnaation ¢h•rg•• arn on ts porllon ofth• aM•V• uw. Th• gward of • gr8rrt la recoonhed u • 16abilty onty vh)on th• ¢thria for • n•trUth& obllptson ar• m•1, paymont Is probablo. It CAn b• mu•urnd rdJ•bly. •rKI thw• or• no ry)rKlitloM attKlTrJ lo ft• PAymanl th&t mll il recogntsn. 1.8 Ca•h #nd ca•h •qufval•nts Cash and $h 9qUall15 fjh In h8ThJ. h•ld At wllh bank•, othw 8PttYt0rni Ik4uld Investments Trmth original maturi11•8 ol montrA or IM8, b•nk Drdraft•. 8•nk overdrth are In Ilhln bOOng• In currerrt IlabiloI. 1.7 Flnancl•l In•trumonts The ch8rity h48 dectod to 4ppty th• ml•loM ol S•1kn 11 'Ba•lc FlnKI Instrumlts. •nd S•ct4on 12 'Oth•r FinAndl In•trum•nts IMu•J' ol FRS 102 to •ll of 6t• flrond•l ir1•truff1s. Flnanc41 instrwn•nts or• r•c4nl••d In bAl4nt Jh•ot th• ch•ty 8mM to tho contr#¢iu•l proviiiong of thè in•trum•nt. Fln•n¢41 ass•l$ #nd liabllib•8 aro offML th• n•1 amounts pr•n In tho finanaal 8tatsment8. wn ther• l• a1•9glly enforcea¥ rigm to Set off rwn6ge(l amtyjnts and ther•18 an lftt•nt•on to on A n basil orto rnali•• th• a•••l •atd• th• Ikb6Mty nlIa1M. 8a&¢ flnand81 4888ts, wfikh indud• tsbtors WKI sh and nk bal•nce•. ar• Inttially m•asur•d 8t transackn prKe induding tranS9th o)Jts and grg •ubwu•nly 1•(1 al amrtid D)st wlng the effective Inler•¥t nxthcwj unla8s th• 8rr•ngemw# o)rtstitirte$ a financyng transadon, wh8fg the Iran$adon 18 moo$ure(l ¥t trte preggnt Val of the ftrtwe receipts 19cJnll gt a mwket rnt• k)l•r•8t. Flngnd¥l •1$ots cla$$ifi•cl as r•c•ivabt• vllhln onè y•r 4r• rth •morti8èd. 10-
THE NAYAMBA TRUST NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢l Icontlnuedl 84•lc Iln•n¢lalHabllltl•• Basio finand41 IiabllrtKs. induding ryedltor8 and bAnk kMn8 arn inillty rec(wia at tr•n8action urdo89 the arr4ngem•nt constth$ a finanors traaOn, whwg the debt inslnrnnl 58 m805ured at the pr•sent value of firtur• payments discounted at a markel rate of Interest. Financaal liabil0$ d48sMed 88 payable wthln on• y••r are It anKYU••d. D•bl In•trum•nts ar• 8Ube•qLnty c•rvfjod at •mcffU••J colt. ugiry tho Off•L Inl•r•st rnt• m•thod. Tradè ar• oblig015on• to pay for go)d• or that hov• bw¢ acwlr•J In IIKI OrdIn eour8• 01 0pornOn8 from OUPF4iers. knwnts wya• Jr• d•s8ffl•d Trent lialxlths rf p•yrMnl is du• ¥thIn on• year or b88. If Ml, they Ire pre80nt•d a8 non4>Jffont 11gb11. Trade u8ditor8 arg r8w4ni1od inltiamy #t lrnrMdon pilc• •nd aub8•qu•ntty m••o(mt •t aMCfl colt U8lng th8 •ffeclv• Inteml method. Der•¢ognldM of fin0nl H•lhYhl Flnand•l I1•bIlo8 •r• d•rwnl••d Vlkn tho tharltyl contrac•J•l oNlg•Uoni •xpirn ry 4r• dkn¢h•rg•d or tanc•lled. 1.8 Employ•• b•nofits Th6 ¢081 of any unus•d holld•y •nuu l• rncognlM4 in tho P•ri In tha thnplty•'1 1•rvt•8 •r• r•¢•lv•d. Temilnatlon b•n•fll8 are Imm•dl4tdy a• an exp$• when thè th•rfty l• danw1rtfy ¢J)mnttod to l•rmin•te the empIoywt o14n or to berth. Incom• from don•lloM •nd l•wl•• Tolal fund• 2023 nd• nd• 2022 fund• 2022 2023 2022 DotiOnS And glfts 41,525 9,897 51222 25,199 1Y,083 42.282 Exp•Trdltur• on charltsbl• •c¥vllO•• Charltabh Ch•rltabl• •xwndltur• •xpondltur• 2023 2022 Dlr•¢t ¢o•ts GMI fundlNJ ofacviti•#1809 th 41 47,255 39.071 Anal1¥ by fund Unr*strithd fund• Restri&¢d furMI8 21,912 25,343 11,154 27,917 47,285 39,071 11
THE NAYAMBA TRUST NOTES TO THE FINANCEAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grani• payab 2023 2022 Grants to Iruon8.' y#mb• Sthool. d8WQWt and bLkIng• Nayambo School- ts•therl8tud•ntllood Nayamba School- re80Lsrce and other Nay8mba S¢hool- Tradè Centr• NayRmb• Sthool. proJ•ct 13,513 23.160 2.125 1.287 7.1K¢ 11,154 27,258 659 47,255 39,071 The ¢h•iity •n8urns that It% of public dc¥th• w dlrffty to N•y•mb• to iupport work to tsellv•r Its ctharlt•bl• Non• of th• Trust1 (ty any ccnnecl•d 7hth ltrwm) r•cd¥•d any rmin•r•tbn or Wollts frun tho chath durtng th• y••r. Employ• Tho average monthty numbw of durfno th• y•ar W.. 2023 14umb•r 2022 Numb•r Tot1 Thern wtrre no empSoy•M arrwal rUn¥31 was ftK)r• than £80,000. Taxatlon The tharjty 18 èxempt from tax on inoyw and gains f•llir¥J wilhin 8tton 505 of the TaxosAd 1988 or sethon 252 of the Taxallon of Charg94bie GalrnAd 1992 to th• axt•nt trt th•w are applled to It• th¥rltable tsbJ. Oobtorn 2023 2022 Am¢)unts fAlllng duo wlthln on• yw. other d8btor5 4,192 (Jhar debiors (x)mpri8ed GiftAid recavth at the year efKI. 12-
THE NAYAMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Cr•dltor•: amounts lalllng due T*lthln w ymr 2023 2022 Othor ¢xgdltorn 3,733 13-
THE NAYAMBA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 11 Anal1 of n•t ••••ts b•tY•n thnd¥ Unro•trlct•d R••trl¢t8d furx 2023 Tot1 2023 2023 At 31 D•¢•mb•r 2023: ur11 au•tslllwbllit) 75,002 75.989 75.002 75,989 Total nd• 2022 fund• 2022 2022 At 31 D•cOmr 2022: Current asS•Wlli¥bjlolI 23,802 72.224 23,802 72,224 12 R•fat•d party tran•actlo Th•r• %wr• no dIo8ble rnlat•d paty tr4n•aclkY* thArvJ th• y•ar. 15-