**Registered charity number: 01179019** **Doctors of Tomorrow in Zimbabwe Trustees’ Report and Accounts for the year ended 15 January 2023** **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Contents** ||**Page**| |---|---| |Charity Information|2| |Trustees’ Report|3 - 4| |Independent Examiner’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the financial statements|8 - 10| Page 1 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** **Charity Information** Trustees Philippe Bonavero Dr Sara de Swardt Dr Helen Munn Dr Natasha O’Hear Registered charity number: 01179019 Registered Office Waywarden West Street Kingham Chipping Norton Oxfordshire OX7 6YQ Website https://www.doctorsoftomorrowinzimbabwe.org Page 2 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Trustees’ Report** ## **Structure, Objective and Governance** Doctors of Tomorrow in Zimbabwe (the Charity) is an unincorporated trust, established under the Charity Commission Trust Deed dated 14 June 2017 with registered charity number 1179019. The Charity was founded by a group of friends in 2016 with the mission to help struggling Zimbabwean medical students reach their potential by assisting with their tuition fees. It supports students who are already enrolled in medical school, but who find themselves in financial difficulties. The following were the Trustees during the year and at the date of signing this report: Philippe Bonavero Dr Sara de Swardt Dr Helen Munn Dr Natasha O’Hear The Trustees are the founders of the charity and as such, were not recruited but all have a background in either medical science, education or the third sector. At the Trustees' meetings the Trustees consider the progress of current grantees, any new applications and how to make the best available use of resources. The Charity’s registered address is at Waywarden, West Street, Chipping Norton, Oxfordshire, OX7 6YQ. ## **Charity’s Public Benefit** The Trustees have considered the Charity Commission’s guidance with regard to public benefit and have ensured that the Charity’s resources have been, and will be, distributed to assist those Zimbabweans in charitable need to study medicine. ## **Activities and Objectives in the year** During the year the Charity supported a total of 85 medical students, split between students at the University of Zimbabwe in Harare and the National University of Science and Technology in Bulawayo. The majority of the Charity’s funding went directly to pay tuition fees at those two universities, but the Charity also made occasional hardship grants to support students with their living expenses. The Charity maintained robust and rigorous selection criteria to select beneficiaries, based both on individual students’ financial circumstances and their academic record, including obtaining references from relevant tutors and assessing performance in end-of-year examinations. Page 3 **Doctors of Tomorrow in Zimbabwe** ## **Registered charity number: 01179019** **Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Financial Review** During the year the Charity received donations of £135,937 (2022: £86,750) and had direct charitable expenditures of £159,437 (2022: £91,790). ## **Policy on reserves** The Charity’s reserve policy is to maintain sufficient reserves to cover all grants currently committed to students. Our thanks to all Trustees for their commitment and work throughout the year. On behalf of the Trustees ....................................................................................................... Name: Philippe Bonavero Date: 10 November 2023 Page 4 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Independent Examiner’s Report to the Trustees of Doctors of Tomorrow in Zimbabwe** I report to the Trustees on my examination of the accounts of Doctors of Tomorrow in Zimbabwe (the Charity) for the year ended 15 January 2023, which are set out on pages 6 to 10 (‘the Accounts’). ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the Accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 Accounts to be reached. ....................................................................................................... Signed: Duncan Spence (ACA) Date: 11 November 2023 8 Bloomsbury Street, London WC1B 3SR Page 5 ## **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Statement of Financial Activities** |**Note**|**2022/23**
**£’s**|**2021/22**
**£’s**| |---|---|---| |**Incoming resources:**
Donations received
**Resources expended:**
Grants
2
Grant related support costs
3
**Net outgoing resources for the year**
Balance brought forward at 16 January
Balance carried forward at 15 January|135,937
(159,183)
(254)
**(23,500)**
25,643
2,143|86,750
(91,539)
(251)| |||**(5,040)**| |||30,683
25,643| There was no other comprehensive income for the years ended 15 January 2023 or 15 January 2022. The notes on page 8 to 10 form part of these financial statements. Page 6 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Balance Sheet** |**Note**||**15-Jan-23**
**£’s**||**15-Jan-22**
**£’s**| |---|---|---|---|---| |**Current assets**
Cash and cash equivalents
4
Debtors
5
Net current assets / (liabilities)
Total assets less current liabilities
**Net assets**
**Funds**
Unrestricted general fund
**Fund balance**|2,143
-|2,143|-
25,643|25,643| |||||| |||2,143||25,643| |||**2,143**||**25,643**| |||2,143||25,643| |||**2,143**||**25,643**| The notes on page 8 to 10 form part of these financial statements. These financial statements were approved by the Trustees on 11 November 2023 and were signed on their behalf by: **----- Start of picture text -----**
.......................................................................................................
Name: Philippe Bonavero
**----- End of picture text -----**
Date: 11 November 2023 Page 7 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Notes to the Accounts** ## **1. Accounting Policies** ## **(a) Compliance with Charities SORP (FRS 102)** These financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Charity adopted Section 1A of FRS 102 applicable to smaller entities. ## **(b) Measurement convention** The accounts have been prepared on the historical cost basis. ## **(c) Going concern** The Trustees consider the Charity to be a going concern at the reporting date. ## **(d) Cash flow statement** Under Section 1A of FRS 102 the Charity is not required to prepare a cash flow statement. ## **(e) Income** Donations are recognised once received. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met. ## **(f) Expenditure** 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 the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses are allocated or apportioned to the applicable expenditure headings. Grants are payments made to third parties in the furtherance of the charitable objectives of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the oneyear or multi-year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attached to that grant is outside of the control of the Charity. Page 8 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Notes to the Accounts (continued)** ## **(g) Cash and cash equivalents** Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on demand. ## **(h) Fund structure** The Charity has a single permanent fund which was wholly unrestricted as at the year end. Unrestricted means the Trustees are free to use it for any purpose in furtherance of the Charity’s objectives. ## **2. Grants** |**Grants**|| |---|---| ||**2022/23**
**£’s**
**2021/22**
**£’s**| |Fee support and hardship payments
**Total**|159,183
91,539| ||**159,183**
**91,539**| ## **3. Grant related support costs** |**Grant related support costs**|| |---|---| ||**2022/23**
**£’s**
**2021/22**
**£’s**| |Bank charges
**Total**|254
251| ||**254**
**251**| ## **4. Cash and cash equivalents** |**Cash and cash equivalents**|| |---|---| ||**15-Jan-23**
**£’s**
**15-Jan-22**
**£’s**| |Cash at bank and in hand
**Total**|2,143
-| ||**2,143**
**-**| ## **5. Debtors** ||**15-Jan-23**
**£’s**
**15-Jan-22**
**£’s**| |---|---| |Cash balances held on behalf of the Charity (see note 6)
**Total**|-
25,643| ||**-**
**25,643**| Page 9 **Doctors of Tomorrow in Zimbabwe Registered charity number: 01179019 Trustees’ Report and Accounts for the year ended 15 January 2023** ## **Notes to the Accounts (continued)** ## **6. Related Party Transactions** During the previous year, the Charity’s bank account was closed in error by its bank. On closure the account balance of £88,724 was transferred by the bank to a joint account of Philippe Bonavero and Dr Natasha O’Hear, both Trustees of the Charity. These funds were held in trust and used solely in furtherance of the Charity’s objectives. This year the Charity’s bank account was reopened and the cash held on trust was returned to the Charity. The bank apologised to the Charity for its mistake and paid it £1,913 in compensation. That money has been accounted for as a donation to the Charity. The Trustees received no emoluments or reimbursement of expenses. Page 10