Khanya Educational Trust
Financial Statements for the year ended 31 August 2021
Registered Charity Number: 1169405
Khanya Educational Trust
Statement of accounts for the year ended 31 August 2021
Contents
Page
| Page | |
|---|---|
| 1 | Legal and administrative information |
| 2 | Trustees’ report |
| 3 | Statement of financial activities for the year ended 31 August 2021 |
| 4 | Balance sheet as at 31 August 2021 |
| 5 | Notes to the accounts |
Khanya Educational Trust
Legal and administrative information
Trustees
P Earl D Magyar N Telford L Ritchie
Registered Office
49 Wood Vale London SE23 3DT
Accountants
TC Group Level 1, Devonshire House One Mayfair Place London W1J 8AJ
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KbAnya Educational Trust Tnle¢s, Report The Trustees subtnii their Tnte. report for the year ended 31 August 2021. Objects of the Trust. Prineipal A¢tivitie5 2nd Organlsatlon of our Work The Trusl is governed by the CIO foundaiion dated 29 Sepiernber 2016. The objects of thc Trust are to relieve )vertY and advance educaiion of underprivileged children anywhere in the world by the provision of grdnls, goods and other support in such ways as thc TnLSte¢s from time to time ihink fit. Trustees and other Relevant Persons The names of the Trustccs and other key personnel and rclcvant pcrsons are listed on page l. The result for the year is shown on page 3 and tbc position ai the end of the year is shown on pagc 4. Trustees, responsibilities in relation to the financial statements The ¢harity trustecs are responsible for preparing a ttees, atmual report and financial statements i accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requir the charity trustees io prepare financial statements for each year which give a trne and fair view of the statc of affai of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statcmcnts, the tnLStees are rcquired to: ' select suitable accounting p)licies at¥J then apply them consistently; observe the methods and principles in the applicable Charities SORP. ' make judgements and estimates thai are reasonable arbd prud¢nt' state wheiher applicable accouniing standards have been followed. subject lo any maierial departures disclosed and ¢xplained in the fivwicial statements. ' prepare the fitwi¢ial statements on the going conccrn bosis unless it is inappropriate to prcsume that the charity will Continue in business. The trustees are responsible for keeping proper accounting rccords that disc105c with reasonablc accuracy at any time the financial position of the charity and to enable them to ensure that the finarhcial sthtements comply with the Charities Act 2011, the applicable Charities (Accounts and RetA>rts) Regulations, and the provisions of the Trusi deed. They are also responsible for safeguarding the asscts of the charity and thking reasonable steps for the prevcnfion and deieciion of fraud and other irregularities. The trustees are responsible for the maintenance ond integrity of the charity and financial information included on the cbariry's website. Legislation in the Unit¢d Kingdom governing the prepardtion and dissemination of financial statements may diffcr from legislation in other jurisdictions. On behalf of the Trustees D Magyar Trust
Khanya Educational Trust
Statement of financial activities for the year ended 31 August 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Income | ||||
| Donations and legacies | 2,025 | 12,578 | ||
| ------------ | ------------ | |||
| Total income | 2,025 | 455 | ||
| ======= | ======= | |||
| Expenditure | ||||
| Direct charitable expenditure | ||||
| Charitable activities | 3,522 | 6,974 | ||
| Other expenditure | ||||
| Bank charges | 4 | 140 | ||
| -------- | -------- | |||
| 4 | 140 | |||
| ------------ | ------------ | |||
| Total expenditure | 3,526 | 7,114 | ||
| ======= | ======= | |||
| Net movement in funds | (1,501) | 5,464 | ||
| Total funds brought forward | 7,767 | 2,303 | ||
| ------------ | ------------ | |||
| Total funds carried forward | 6,265 | 7,767 | ||
| ======= | ======= |
All income and expenditure is derived from unrestricted activities.
The statement of financial activities includes all gains and losses in the year.
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KhanyA EducAdonAI Trust Balance sheet as at 31 August 2021 2021 Current Assets Cash at bank and in hand 6.266 7,767 6,266 7,767 Creditors." Amounts falling due within onc ycar Total Assets Less Current Liabilities 6.266 7,767 6.266 7,767 Represented by: Unrestricted funds Restricied funds 6.266 7,767 6.266 7,767 D Magyar- T Date signed: 29 June 2022
Khanya Educational Trust
Notes forming part of the accounts for the year ended 31 August 2021
1 ACCOUNTING POLICIES
Basis of Accounting
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 (FRS 102) published on 16 July 2014, the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Income recognition
Income is derived from subscriptions, donations and investment income. All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income received can be measured reliably.
Donations are all accounted for on the date of receipt into the Charity’s bank account.
Expenditure recognition
Liabilities are recognised as expenditure as soon as 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 obligation can be measured reliably.
All expenses are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
2. Related party transactions and trustees’ expenses and remuneration
The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind.
There were no related party transactions during the year (2020: £nil)
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