2023-03-31-accounts - Zambia Overseas Christian Fellowship

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Zambia Overseas Christian Fellowship (ZOCF)

Registered Charity Number 1177269 Annual and Financial Statements For the year ended 31 March 2023 Annual Report 2023

The Board of Trustees presents its trustees report for the year ended 31 March 2023. Charity Name: The name of the Charitable Incorporated Organization is the Zambia Overseas Christian Fellowship. The Charitable, hereinafter abbreviated as “ZOCF in abbreviation.”

Registered Office:

98 Baldwin Road, Birmingham West Midlands B30 3LE

Board of Trustees:

Sam Ngambi (Dr) Prudence Mwanza (Dr) Lovely K Mwambazi (Mr) Sophie Mwiinga (Mrs) Victor Chilekwa (Dr)

Banking Services:

Barclays Bank Coventry High Street Branch 25 High Street Coventry CV1 5QZ

Governance, Risk and Objectives

Governing Document

The Zambia Overseas Christian Fellowship (ZOCF) is a charitable organization founded on February 21, 2018, and officially registered as such. Its creation was based on a Memorandum of Association, strengthened by a special resolution that defined the organization's objectives and powers in the field of charity work. Over the past two years, four new Trustees have been appointed, each bringing their expertise to their respective positions. All Trustees are well-versed in the guidelines set forth by the Charity Commission, particularly in their publication "The Advancement of Religion for Public Benefit," and they consistently integrate these principles into ZOCF's management and operations.

Working on a voluntary basis, the Trustees devote their time without seeking any personal gain from ZOCF. They bear the responsibility of overseeing the organization's diverse activities and functions, providing regular reports at meetings to address relevant issues. To further support their efforts, a subcommittee known as the National Executive Committee (NEC), composed of skilled professionals from diverse backgrounds, is headed by the Chairperson. This committee conducts research, formulates recommendations, and offers valuable insights to the Board of Trustees, enhancing their decision-making processes.

Risk Assessment

ZOCF acknowledges the concept of 'Risk Assessment' and defines risk as any potential action or event that could negatively impact the organization's ability to achieve its goals and carry out its strategies effectively. This understanding encompasses not only financial concerns but also encompasses any circumstances that may or do lead to adverse effects. 'Risks' cover not just the repercussions of threats but also include the consequences of failing to capitalize on opportunities.

Recognizing the importance of a practical Health and Safety Policy, ZOCF ensures its implementation in all its premises and surrounding areas during its activities. The organization is well-versed with and adheres to the obligations outlined in the Equality Act 2010, the Data Protection Acts of 1988 and 2003, ensuring compliance with the responsibilities of the charitable entity.

In line with safeguarding practices, ZOCF has established a Protection Policy specifically addressing the welfare of children and vulnerable adults. Thorough checks, conducted by the Disclosure and Barring Service (formerly known as the CRB), are carried out for individuals regularly involved with young people and vulnerable adults. Mrs. Sophie Mwiinga serves as the appointed officer for overseeing this aspect. While total elimination of risks and their consequences may be unattainable, continuous efforts are made to minimize such occurrences.

The safeguarding policy underwent revision and received approval from the Trustees in August 2019. It has been effectively implemented in relevant departments within the charitable organization. Trustees remain informed and updated on pertinent matters impacting the organization, including health and safety protocols, legislation concerning disability discrimination, and child protection measures.

Public Liability Insurance

In 2018, we established public liability coverage with Ansvar Insurance Company, encompassing all our organizational events and gatherings. The total premium amounted to £230.29, payable in monthly instalments of £22.14 over ten months following an initial fee of £30.00. The policy features an Indemnity limit of £5 million, Trustees and directors’ indemnity set at £100,000, and Employer’s indemnity of £10 million. Additionally, there's Reputational Risk coverage of £105,000. We strongly encourage all members to ensure that any activities they participate in at regional or national levels align with the requirements outlined in the insurance policy. The funding for this policy comes from membership subscriptions, and insurance renewals occur on a rolling basis.

Objectives and Activities

Purposes and Aims

To advance the Christian Religion throughout the United Kingdom and the World for the benefit of the Zambia Community in the United Kingdom and the public.
The promotion of Health throughout the United Kingdom and the World for the benefit of the public.
The promotion of Community development and capacity building by developing the skills and capacity of the Zambian Community and the public in the United Kingdom in such a way that they are better able to identify and help meet their needs and participate fully in society.

Activities

Women: Annual 3 days women’s conference promoting cultural heritage, domestic abuse awareness, health awareness, counselling sessions, promoting family values, women empowerment, physical activities, and networking. The conference features keynote speakers and workshops on a variety of topics related to women’s empowerment, such as leadership, entrepreneurship, and financial literacy.
Men: Annual 3 days men’s conference promoting health awareness, providing a platform for mentorship and discipleship and breaking barriers, networking, and empowerment; promoting health awareness and physical well-being.
Independence Day : Annual event that seeks to promote Community development and capacity building by developing the skills and capacity of the Zambian Community and the public in the United Kingdom in such a way that they are better able to identify and help meet their needs and participate fully in society.
Other Charitable Activities: In this financial year, we have supported various charity activities both within the United Kingdom and Zambia. Eye Care for Zambia Charity registered in England benefitted from our support; this charity strives to improve access to eye care services and reduce the incidence of preventable blindness in Zambia. In Zambia, our monthly remittances derived from member contributions have supported the operations of Zambia Fellowship of Evangelical Students (ZAFES) and Scripture Union Zambia. In the same period, we made remittances to Salvation Army Zambia. This organization is based in Zambia and look after the elderly and vulnerable in society.

Review of the Year - Achievements and Performance

Financial review

Over the past four years, we have proudly operated as a charity, experiencing remarkable financial growth and advancement. In the last financial year, our total income reached £54,433, primarily generated through member contributions, donations, and conference fees. Additionally, our projects team and regional initiatives made significant contributions by raising an additional £1,895 through merchandise sales, further bolstering our financial reserves. The accompanying diagram illustrates ZOCF's income streams during the reviewed financial year. Notably, subscriptions and donations experienced an encouraging increase from £8,532 to £9,021 , representing a 6% growth compared to the previous year's income.

----- Start of picture text -----
REVENUE
ZAFES / SU Donations and
Merchandise
3% Subscriptions
5%
17%
Regional
Contributions -
Indep
3%
Independence
Ticket Sales
13%
Mug Sales
1%
Conference Fees Other Income
54% 4%
Online Shopping
Donations
0%
----- End of picture text -----

Member subscriptions and donations were £9,021. This figure comprises Member Subscriptions, Offerings, ZAFEs/ SU donations, and regional contributions.

----- Start of picture text -----
Donations and Subscriptions
Women's Offering
15% Mens
4%
ZAFES
Donations &
17%
Subscriptions
64%
Women's Offering Mens ZAFES Donations & Subs
----- End of picture text -----

We are actively exploring strategies to bolster our funding sources, especially as we progress toward fulfilling ZOCF's vision. Our income relies significantly on membership subscriptions and voluntary contributions gathered at events like conferences. Despite the substantial growth in membership following the relaunch in London, this surge has not yet translated into increased income for ZOCF.

The expenses highlighted in green were substantially higher than anticipated and played a significant role in our overall financial deficit.

Moving forward, we should prioritize strategies to increase the proportion of our income allocated to charitable endeavours. Currently, only 6% of our income is directed towards charitable donations in both Zambia and the UK.

Although costs for Hire of Conference venues is fully funded by delegates, associated costs such as hire of equipment or honorarium payments are unusually high and require concerted efforts of delegates to cover these costs.

Plans

In the upcoming year, our aim is to enhance and extend ZOCF's outreach, driven by our overarching vision. We seek to strengthen and magnify our footprint in Scotland and Northern Ireland. Our strategy involves continual maintenance, improvement, evaluation, and progression of our established goals. Over the year, the Chairperson and Vice Chairperson have undertaken multiple regional visits to advance these efforts.

Recommendations for Action

Budget - It is essential to establish efficient practices to reduce expenses and achieve financial independence. The Board of Trustees should consider developing a policy on benevolence and honorarium payments to standardize practices across all regions. This policy should clearly define the eligibility criteria, approval process, and disbursement procedures for such payments. By establishing clear guidelines, the organization can ensure that these payments are made in a consistent manner. Additionally, the Board should regularly review and adjust the budget to account for changing circumstances and ensure that the organization is operating within its financial means.
We would like the future Treasury to consider financial forecasting which should be reviewed at an agreed period to provide valuable insights for decision-making around investments, and expenses, based on predicted financial scenarios as part of our business-as-usual activities such as independence and conferences.
Revenue – Following the relaunch of London branch and mobilization visits to Scotland and Northern Ireland, we anticipate a significant surge in revenue and activities within ZOCF. It is crucial for the Board of Trustees to initiate sensitization programs, encouraging members to actively contribute towards subscriptions during this period of growth.
Gift Aid - We have embarked on the process of claiming Gift Aid. Although we are fully subscribed to Church Suite which is compliant with GDPR requirements, most of our donors haven’t given us the Gift Aid declaration despite repeated reminders. This has temporally stalled our efforts to claim Gift Aid and is potentially a loss of income. Members need to be sensitized on the advantages of Gift Aid.
Strategy –The Board of Trustees should consider developing a sustainable financial strategy with clear medium and long-term plans. These plans should consider the aging population and how to tap resources from the younger generations.
Systems Training and Engagement – The Board of Trustees should explore the possibility of outsourcing or acquiring full-time equivalent personnel to effectively handle the daily workload demands within the charity. This individual could also be instrumental in overseeing the seamless integration and transition of accounting systems across the organisation.

Statement of the responsibilities of the Board of Vision Protectors

The Board of Trustees is responsible for preparing the Annual report and financial statements in accordance with applicable law and United Kingdom generally accepted accounting practice. Charity law requires the trustees to prepare a statement of financial activities and a statement of assets and liabilities for each financial year, which gives a true and fair view of the situation of the charitable organization and of its financial activities for that year and adequately distinguishes any material special trust or other restricted funds of the charity. In preparing those financial statements the Board of Trustees is required to:

Select suitable accounting policies and then apply them consistently
Make judgments and estimates that are reasonable and prudent
State, whether the policies adopted, are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards, subject to the material departures disclosed and explained in the financial statements
Prepare the accounts on a going concern basis unless it is inappropriate to presume that the church will continue to operate.

We are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure the financial statements comply with the Charities Act 2011.

Trustee Board Member

Approval

Signed: LKMwambazi

National Treasurer

Approval

Signed: P.Phiri

Date: 23rd January 2024

Date:19[th] November, 2023

Financial Statements

ZOCF STATEMENT OF FINANCIAL ACTIVITIES FOR THE FINANCIAL YEAR ENDED 31[st ] March, 2023

Income and Expenses Summary

Balance Sheet

Notes to the Accounts

Overall ZOCF bank deposits (including accounts held in regions) decreased from £20,050 recorded in the prior year to £19,226 as at 31/03/2023.
Retained our membership to Thirty-One Eight for policy support and safeguarding guidance at an annual membership fee of £129.
Individuals within ZOCF and outside have committed to making regular donations to meet ZAFES/SU monthly wages by raising an average of £180 per month. With the Zambian Kwacha fluctuating in value, we need to raise more contributions to meet this target.

For the year ended 31 March 2023

1. Accounting Policies

a) The accounts have been prepared in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice: Accounting by Charities (SORP) 2015 and the FRS102 accounting standard.
b) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received including gifts in kind that are capable of valuation. Donations arising under Gift Aid and Deeds of Covenant together with the tax recoverable thereon are accounted for when received and provision made for tax unclaimed at the year end. Resources expended in the accounts in the period in which they are incurred and include attributable VAT which cannot be recovered.
c) Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets certain criteria is identified in the relevant fund. Designated funds are funds which have been

allocated by the trustees for identifiable future expenditure. Unrestricted funds are donations and other income received or generated for the objects of the church without further specified purpose and is available as general funds.

d) Undesignated and Designated Funds:
General Fund – the principal operating fund covering the cost of the charitable organization as approved by the Board of Trustees.
e) Restricted Funds:
Vision – donations made towards sponsorship of chosen areas of interest by the donor if it is in line with our set objectives.

d) Fixed assets - the charitable organization has no fixed assets.