Annual Report & Statement of Accounts For 1 St April 2020 to 31 St March 2021 (FY21) THE TESFA SPONSORSHIP TRUST UK Charity Registration No 1177205 Page l of 12 TheTesfa Sponsorship Trust UK Annual Report & ststement of Accounts For 1 St April 2020 to 31st March 2021 Contents Administrative information Page 3 Independent Examiners Report Pago 4 Trustees Report Pago &9 Summary of Receipts and Payments Page 10 Statement of Signif icant varlances between FY20 and FY21 Paga 11 Statement of Assets & Liabilities Page 12 Page2 of 12 TheTesfa Sponsorship Trust UK Administrative information Charity Number 1177205 Trustees on 31.03.2021 &mon Payknr Paul Wilson Governing Instrument TFIJSI Deed datad 12th December 2016 ob￿ctIveS The preventson or Tel￿ of poverty in Addis Atoba, Ethiopia by grani$. itwns arKI services to indfviduaL8 in n8thJ charitie5. or other organisatKfis working lo prevent or relieve ￿￿ty. Correspondence Address 3 Bryant Way TothJingtThi Dunslable 8￿OrdShI￿O LU5 6EX Primary Bankers Natwest Bank 4 High Street North rhjnstab LU6 1JU Independent Examlner Clivo Boesley 32 Lirmts hil Lut Bedlordshire LU2 7YN Page 3 of 12 TheTesfa Sponsorship Trust UK Independent Examiners Report on the Accounts Report to the TrU￿ee￿mernbers of TheTesfa SF￿￿rshiP Trust UK on the accounts for the 12-r￿nth peric*l erHJed 31x1 March 2021. My work has been undertaken so that I may stste to the chaiilies tiustees those matters l am required to state in my indeperKlent examination and for no thf purpose. To the fullest extent permitted by law, l ￿ r￿1 a(tspt or assume r8spLMsibility 10 anyfyle Other than the (#)arity and the charities Injslees ILV my examination wort for this report. or the cpintins I havè fonT￿. Respective responsibilities of trustees and examiner The charTlies trustees afe responsible ftythe prepaf8tTon otthe ac£oJnts. The charities trustees consKler that an audit is not required lof this yoar (under Sec￿ 43(21 of the Charities Act 1993 and that an fft(*F*nd¢nt examination ne&Jed. It is my resFX)nwtrylTrty to.. - Examing the accovnts undor $￿ion 43121 of Aci: Fdlow the pr￿edureS laid (k)wn in the general direrAlons yven by the charity ommis5ioners under SeCtM￿ 43(7llb) of the Acl: and Stste whether particuL3r matters have c(xne to my attention Basls of independent examiners statement My examinat￿ was wtsrtaken accorda￿ with geneT81 directions glven by the cthanty commissioners. An examination includes a review of the accounting records kept by the charity and a comparison ol the aecounts prèsented wth those records. It also indudes conwdoration of any unusual items ordisdosures in thè accounts, and Se￿ThJ explanalions from the Iwstees conceming any such matters. The procedures undertaken do not provide all the evid8r￿9 that would be required in an a￿J¥t, and consequentty I do not expfess an audit 4)inion on tha Independent examiners statement I connecilon wSth my examination. ￿ matter has ￿rne to my attention; which gNgs mg rgasonat48 causg to believg Ihat in w material rospgct tho requlrements: to keep aGcounling re￿dS in xcordance with the Chaiilies Act (Secti￿ 411 to prepare accounts which actord wilh the acownting record5 and Cryn￿y wlh the accounting requirements ol the Act have not been met: or detsL*ThJing ol the accwnts to te reathed. Clive Beesley Indepetht exarn1r￿r Si ..0.51.1212.o£i.. Page 4 of 12 TheTesfa Sponsorship Trust UK Trustees Report For 1st April 2020 to 31" March 2021 Introduction; These accounts i*tsil the perirxj 1st April 2020 to 31$1 March 2021. For tsx purposes the charity is a regtstered tharity aThY is known as. _ The Te51a Sportsotship Tntst UK tr￿[eafter Ye5fa?. Charity Nurnber 1177205 Purpose of the Trust: The p￿vent[on or reliel of FKNety in Athjis Ababa, Ethi0￿ by pwthng: grants, items and services to indiwduals in n￿1 aThVor ¢harilies, or other orgarth5ati(Yts w0￿1ng lo prev&)t or lieve F¥Jvety. Achlev•ments In the Flnanclal year: At the time ot reF#Mir4J. the of thildren being sp￿￿ed through T￿ ts 172 along wilh 18 elderty persffis. We remain hugely grntetul lor the continued Commitr￿n¢ of our sponsors and sukwters by investing in the lives of Ihe most ngedy chiklren and elderly in the ¢)mmunithes we support in At*Jis Ab3ba. EthM)pia . thg support coniinued throughout the pandemic which is a te$tirrw)ny to the ¢(￿nm1trnenI ol our supwter bas8. Sponsorship lunds of £32.763 and a(hYT11crf￿ of £5,556 were sert ¢oour2 patrrs in AOJi$ Ababa. supporting their work as Idlows..: CBISDO (Communty 8ased Integfated Susiainablg Devekynent Org8nisation} . al the end ot the linanod ytsr, 141 th"Idr*n and 17 people were being sponsored by our SUPFQrter5 AHISDO IAthJis Hiwot Integrated Sustainable Development Organisationl - at the end of the financial year. 20 thildren and 1 dderty person wefe being sponsored by our supporteTS. Please see their websites lor more detsils and an oveNTr8w ol what they provide for Ihe community they seNe h¢t .'Ilahi doeihio The exrra m¢Mies include £3.447 Irom a Cowd.19 appeal which apn saw a number ol very geneffjus gffts I￿rn our swrter base whth was very hunlling, espeoally wlh this being a Iruly gkjbal pa￿1 We also hugety b￿ffted frcyn the ￿)ntIn￿d Monit￿l￿g throLW our apprynted Consustsnt based in Addis Ababa wilh 3 rewniNJ cycbs having been completed in ts linanaal year. This has proved invaluable in bwng ab￿ to better SUFQOrt CBISDO and AHISDO during this tough Cov1￿19 paridemic. espeaally with the Tesla Tntstees being unatje lo undertake a rrthttoring V￿1¢ in FY21 due to the pandem Cowth19 Arpeal.. We wanted to say thank you to the many Sponso￿ who so generously supported our special Covid Appeal back in the AU￿ffln 2020, raising £3.447 which has already been put to good use in the proiect areas in Ai*lis Ababa Page5of 12 Fwnllles recelving thelr suppllos of foodstuffs and sanitary materlals The luTrJs have beon used ty trt)th ol the Prop￿ areas to pmv¥Je basic fo)dstulfs such as Teff Ilc4Jr, pasts. rice and ¢yl. It also provided lunding lor hygiene related products. such as hand sanitizer and doth lace masks as well as T-shirts lor peopl¢ living in the area with public health messages around hand washing and sccial distancing. The money has mado such a difference to families who would otherwise have gone hungry and may have feduced thg sproad ol Covid in an area where people live dose togeth8f in often challenging orcumstances. Very sadly. Dr Jember Teferra passed away in January 2021. Jembgr is the founder and inspiraiton b8hind the woth of ihe char51i6s we SUFWI in Athjis Ababa, CBISDO and AHISDO, Page 6of 12 This is the tritrth fr(rtn Tesla that %vas read 0￿ at th8 Memorial Servi(£ held lor Jember which affiTThts our comnwtinent lo continue S￿)[m￿￿n9 ts Iw) NGOS a￿1 buiklirKJ on Jembefs kgacy.. you today in perw t*Jt sadty we we Imable Io travd from the UK. Canng, Detemimed, Tenac*yJs. Lt)yal. SW.lel*r. txjt the ￿ Ihat ¢yrt most for us Is INSPIRING. Paul's fiTSt tnp lo Ethwa was 21 yea(5 w back In 1999 he h•a tt* pnw'*e ol Me￿I￿a Jemtw Vlsthrwj cBISc￿ aKJ the amaziNJ w(￿k trffji *tre Thai trp was a tumirKJ pJnt in Paul's &fe, as olher trps ￿[e for Ben Bts)th S￿n Paylor. Ben first wsrted ￿ 2(￿1 ￿ a tean from Glenfall FelEowshp. seery the transf0m￿￿on in CBISDOS area. a￿1 Ihe Iwthb¢y)s la￿ at Alll&QQ Swnon was Introduced wa CRED Ftyjndabon arbj was Ileased ¥#J to l* Dr Jember attan fiJlhef Ccrfnic Rehel lunth for the NGOS. Al of us captwaied. chal*rued aThJ the exanwe of Dr Jeml)er, and work you eslablsl*d vthh In y￿r c￿l￿￿￿t*s. &nte these early eXpe￿en￿ have sinved lo h￿P sp)nsors In the UK thh*en ar￿ elthty m the yogams of CBISDO and AHISDO In￿allY Lrfe Church and n through The Tesfa S￿?$￿ Trnst UK 21 years ￿ ar*J we are stsN honwred io be 9JFP)rbry the ¥¥Jnsotship the chthjren aNJ ehjety of t￿th CBISDO AHISDO. We know this lnsp.rmg WO￿ slarted lry Jember conts.nue arm1 vnth ￿ amaziThJ In￿rtUte, be ts lew Ihat *ilf te of. GCKJ al Paul. Ben & SKn¢ Trustees of The Tesla Sp•. Tnjst UK 7of12 Formal key details: Treasurer Role undertaken by the Tntstee. Paul wils￿ thr(wh(NJi th& finan(ial ￿liOd Independent Examlner The 2020121 accounts wefe reviewed by: _ Clive B8esley 0132 knppitts kknll. Beds. LU2 TYN Trustees There are currenrfy three Intstees. _ Benjamin B￿¢b Simon Paylor Paul Wilson {Chairy>e￿On) The ITUStees review the examined acc¢)unts each year and srt*mil these the appropriate form5 to the Charity CcthrrussK)n. To date the trustees have not daimed any payments lor th8ir activities other than lor either reimbur58meni of trip expenses when w$Éting A(klis Ababa on a monf(oring trip represeniing Tesla or lor stationary costs in¢Ufred in the administration ol the tharity. Reporting: A summary ot th6 unr68tricted fund5 is presented lo the per￿C TTUStees mo8ling Icufrently monthly). Each year the account examined by an indyndtnt *KI quali1￿ p&rsc￿ outslde thg charity and this is in turn reported to the Trustees al the AGM. A copy of the examined a¢xouni is also prowded to the trustegs and c*baiity cxjmission each year. Income The mqority ol income is received by standing order directly from the indivKlual or by cash & ¢heoue ar•J relates to the indiwdual's Sp￿￿orship of a child or ekkty person in the projects that Tesla supports. In additson, athjrtional or one-off donations are received and treated as unrestricted Unk￿ the d￿Or has exprgs* swed the lurKts are for a speufic purpos&. Of the £10,401.70 cash ba5ance al trt finanaal year eThl. 'Restricted Reserves, represented 78% of thè cash. being £4,786.47 of Child and Ekjedy spcw lund5 building up for the next semester payment (due after 1st June 20211 and £2.509.87 of Seed Capital remaining from a supporter gft. Summary of Bank Account: Currgnt Account: . XXXX2619 This account is managed by the Trgasurgr and is the gèneral xount. All payments from this ￿Urtt afe by either bank payffmt, threu thbit orby t*equ8 am of require signatures. Gift Aid applications to the Inland Revenu8 lor Incr￿ to this acco￿1 is applifjd lor annually with such funds treated as unrestrictwj. Authorised signatories on ￿ account are.. . Benjamin Bocth. SiThw Paylor aThJ Paul Wilson. All expendtture (be Ihatvia Banktranslers orcheque paymwbtsl requires two ￿gnatureS for authoiisation Irom the three wgnaloTie5 on the account {dl of whom are truste85} Conclusion: The main area5 01 payments will ￿￿inUe to be the prLwision of fun(h"ng lor the sponscwship of children and elderty people ￿1hTrn the Kebeles where the two EthKpian NGOS Tesla supports (CBISDO and AHIS￿) operate in Addis Aba)4 Eth(pia. In aththtion, unfestricted lunds will be invested in main areas" to ertsure Tesla is fully LxKnpJwii wrth the Ctrwity ComtYMsi1￿ for EngLqnd & Wales regulations and practices and Page8of 12 the effective ￿lJnItoring & evaluation ol the tharitable panner5 With whom Tesfa a fornal parthership - currerrtly CBISDO and AHISDO. This will be achieved through the commissioning of a consuttant in AOJbS Ababa who will tr* reportiThJ to Tesla periodicalty (currently every 4 months) aThJ an annual rrK)nTton"ng visit by ai least one Tn￿ee of Tesla IQ4 trip plans were defeffed due to growirwJ crrfwns over the COVID-19 pandemic). It is the Truslees, inlenlon to use the tocalty based Consuhant to greater effert during this pandemic. Trustees, Responslbilities The Charities Act 1993 requires the tr￿leeS lo prepare tinaThial statements for each financial year which give a tnte aThJ lair view ol the slate ol aflaiTS ol ￿ trust and th8 surplus ol the trusl for thal period. In preparing those financial statemenis the Irustees are required to.. Select sults￿e accounting wliues and aFPty them consistenty. Make judgements and estsmates Ihat are ieasonable and prudent. Prepare linancial statements on the g)Jng c£rtem basts unless it is inapprcpriat8 to presume that the trust will t￿ntinue in existence. The Irusiees are re$F￿SIble for keepiThJ proper accountiTWJ reccrfds, wlNGh disdose with reasonable accuracy at any time the financial position of the tr￿1. They are also resp)nsible for safeguarding ts assets of the tnjst arKI henc8 lof ta￿"rtg Teasonabse steps for the prevention and dètection of fra￿￿ and CAher irregularities. Signod on behall of thè tr￿1865. Paul V￿1%￿................................................... Dale . P e9of12 The Tesfa Sponsorship Trust UK Statement of Receipts and Payments For 1 St April 2020 to 31 St March 2021 Tb•T• knJ1 17A31.0) la2C C•J - Y•r..i S•ftfS lil 51,OSL¢¢ 12 41.sy P•>iMn 12.XJ.LY* Y20 tlul oJ>) AJ.07)44 JknrpluSiWb 31 Cl'21 laAQL70 3.IGSJ6 tD I-￿￿-.-9 èpyJl - rt￿.￿￿1￿￿t¢E5 tEm 5,, Re5trr* F.vsIP