ZayoHub Foundation Charlty Number 1190407 Unaudited Financial Statements for the Year Ending March Z024
Contents Reference and adfflinistratNe detalls ol the charity, its trustees and advisers for the year ended March 312023......... ................................................................................................................ Trustees Report for Year Ended March 2023... . Objertives and Activtties...........-.........-..-................................................-............................................ Achievementsand perfomiance......................................................................................................... Financial review.......................-...-.-................................................... Structure, governance and manement.... . Plans foi futu periods.....-.-.......-................................ Trustees, responsibilities statement................................. Independertrt examiner's report for the period en(Jed 31 March 2023..........-........-.................... ... .. ... Independent examine5 rewrt to the irustees of ZayoHub fotsndath)n ......-...-............-................... Respective responsibilitiès of trustees and examiner..................-...................................................... Basis Df independent examiner's report.......-........................................... Independent examIneS statement..................-..................................... ......... Disclosure section.................. Stateinent of Financial Activities for the Year Ended 31" March 2023.................-.-............-.......-.......... Balance sheet as at 31" Marth 2023............-........-....-.........-........-...........-................................. .........10 Notes to the financial statement5 for the period endin8 31° March 2023......... -11
Reference and administrative detalls of the knty, Its trnstees and advisers for the year ended March 312024 Trustees Eleanor Syke5 Rosie Rafferty Catherine Hinds CPrIotte Scott Charfty reglstered number 1190407 Principal office P*)pes Farm. The Green. Depden. IP29 4BY Independent examlner Nicholas Jenkins
ZayoHub Foundatlon Trustees Rep)rt foryear Ended March 2024 The Trustees present their annual report togethèr with the financial ststements of the ZayoPlub Foundation (the charity) for the period ended 31 March 2024. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements. the requirements ofthe charity's d¢xument and the provisions of the Statement of Recommended Practice1SORPI, applicable to charities preparing thwr acc¢)unts In aCCOTdance with the Finantial Reporting Standard for Smaller Entities {effectrve l January 20151. Qbjeetives and Activities a. POLICIES AND OBJECTIVES The principle objert of the charity is to the relief of poverty and the improvefflent of the conditions of life in socialty and economically disadvantaged communities in Zambia by- Providing funding support to PrOve or assist in the pro¥isioft of educatron. tr8inin& healthcare projects and all the necessary supwrt desi8ne(J to enable indNiduals to generate a sustainable incorne and be self-sufficient. Und2rtakinE and supporting searCh into factors that contribute to poverty and the most appropriate ways io mrti8ate these and publishing the useful results of that research. Achlevements ond perforniance . REVIEW OF ACTIVITIES The charity has focused on understanding the srtuatiorl and development needs ol the selected communities in western Zarnbia. From that. thè CharleS objectives and strate8ie5 in terms of how to support local activities have been developed during the reportin8 year. The trustees have had due regard to the Charity COMMs1on guidance on public benefit. nancial review a. GOING CONCERN After making appropriate enquiries. the trustees have a reasonable expectation thai the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the goin8 conrn basis in prepa rin8the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accountin8 Policies. b. RESERVES POLICY A formal resernes pollcy has not yet been established. At the period end the charity had unrestricted funds carried forward of £341,564.47.
Strnrture.governonce ondnwniwemenL a. C0149TITLrrioN The charity was established as a foundation mcxlel Charitable Incorwrated Or8ani5ation ICIOI. was incorporated and registered vdith the Charty Commission on Ihe 14th July 2020 and the registered charity number is 1190407. b. METHOD OF APPOINTMENT OR EIECTION OFTRUSTEES The management of the charity is the responsibilty of the TTUStees who a elected and co-opted under the term5 of the constitution. The must be at least three trustees. There 15 no maximum number of trustees. The first charity trustees are as follows, and are apwinted for the following temis- Catherine Hinds for 4 years Rosie Rafferty for 4 years Charlotte scott for 4 years Eleanor Sykes for 4 years In sePedin8 add7tTroTral individuals for appointment as charity trustees, thecharity trustees have regard to the skills, knowledge and experience needed for the effettive administration of the CIO. The members of the CIO shall be it5 charity trustees for the time being. The onfy persons eligible to be members of the CIO are Its charity trustees. Membership of the CIO cannot be transferred to anyone else Any member and charty trustee who ceases to be a chartty tnjstee automatical ease5 to be a member of the CIO. c. POLICIESADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES The charity tfUStees will make available to each new charity trustee. on or before his or her first appointment.. (al a copy of the current version of the constitution- and Ibl a copy of the CIO'S latest Trustees, Annual Report and statement of accounts. d. ORGANISATIONAL STrUCTURE AND DECISION MAKING Any dètiSiL)n may be taken by trustees either= at a meeting of the charity trustees- or by re501ution in writing or electronic form agreed by all of the charity twstees. which may comprise either a stngle document or seveNI thuments contsining the text of the resolution in like foTm to each of which one or more charity trustees has signthed their a8reement. The charrty trustees may delegate any of their powers OT funrtions to a committee or committees, ond. if they dg. they shall determine the term5 and condition5 on which the dele8atlOfl 15 made. The charity trustees may at an1rne aer those terms and conditions, or revoke the delegation. PIL¥nsfvrAuture periods a. FUTURE DEVELOPMENTS The CIO plans to secure fijrther grants and donations to enable it to fvlfil its charitable objectives.
TrUSt%.reSPOnsIbll1tjes statement TheTrustee3 are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and U nited Kingdorn Accounting Standard5 (United Kingdom Generally ACpted Accountir)g Prarticel. The law applicable to charities in England & Wales requires the Trustees to PTepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the Trustees are required to: Select suitable accounting policies and then apply them consistenily- Observe the methcxls and principles in the Charities SORP,. Make ju(Igments and accounting estimates th* are reasonable and prudent; Prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees arè responsible for keeping proper accounting records that are sufficient to Show and explain the charity's transactions and disclose with feasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulatiorbs 2tm and the provisions of the trust deed. They ore a150 responsible for Safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularitie5. This report was approved by the Trustees on 8.1.25 and signed on their behalf by.. Eleanor Sykes Chair
Independent examiner's reportfor the peri(rfl ended 31 Marth 2024 Independent examiners report to the trusteaf ofZtryoHubfoundation I report on the financial statemenls of the chèrfty for ihe period ended 31 March 2023 which are set out on pages 9 to 12. This report is made solely to the charity's Trustees, as a b¥, in accordance with section 145 of the Charities Art 2011 and reEulations made under section 154 of that Act. My work ha5 been undertaken $0 that I might stste to the charity's Trustees those matters l am reqUId to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body. for my work or for this report. Respertive responsibllitles 0ftruste qndeyominer The charity'5 Trustees a Sponsible forthe preparation olthe financial 5tat?m@nts, and they conSer that an 3udit is not qUired for this period under section 144121 of the Charities Act 2011 Ithe Attl and that an independent examination is needed. It is my reswnsibilwty lo-. examine the financial statements tsnder section 145 of the Act- follow the Pfocedures laid down in the general Directions given by the Charity Commission under settion 14515llbl of the Act.. and State whether particular matters have come to my attention. Basisof pndependent examlner s report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting reEorés kept by the charity and a comparison of the financbal statements prèsented with those records. It also includes consideration Df any unusual items or disclosures in the financial statements and seeking eXpnationS from you as Trustees concernin8 any such matters. The procedures undertaken do not provide all. the evidence that would be required in an audit. and consequentty no opinion is given as to whether the financial statemer7ts present a IrLbe and fair view. and the port is limlted to those matters set out in the Slatement below. Independent exominer's stotemeTrt In connection with my examination, no matter has come to my attention, other than that disclosed below.. l. Which gives me 3$Onable cause to believe that in any material respect the requirements: To keep accounting records in accordance with section 130 of the Act- and To prèpare financial ststements which accorLI with the attounting records and comply with the accounting requirements of the Act have not been met: or 2. To which, in my opinion, attention shoLFld be drawn in order lo enable a proper understanding of the financol ststements to be reached.
Disclosure5ertion Your èttentK)n is diawn to the fact thatthe charity ha5 prepad the accounts in accordance with Accounting and Reporting by Chanties- Statement ol Recommended Prartice applicable to charities preparing their actounts in accordance with the Financial Reporting Standard for Smaller Entitie5 published 16 July 2014, the Financial Reporting Standard for Smaller Entities IFRSSEI in preference to the Accounting and Reporting by Charittes: Stalement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has since been withdTrwn. We understand that this has been done in order forthe accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Prartice effective for reporting periods beginning on orpfter l January 2015. Signed- Independent Exam er
Ststement of Financial Activities for the Year Ended 31A March 2024 Unr¥trl¢téd funds 2023 Restrkted ndS 2023 Total funds 2023 Balance orded forward 44,340.56 44,340.$6 Income Donatlon5 and grant5 Bank interest Repayment of capex advances by ZHZ Refund from supplier mis invoicing Total Income its).(.00 7,260.58 375,459.90 IOD,000.00 7,260.58 375,459.90 6,841.LXI 6,841.00 Expenditure CharItae a1VItieS Total expendlture 192,337.57 192.337.57 Net In¢on 297.223SI RecM¢lllatlon ol funds Total fund5 a5 at l April 2023 Total funds as at 31 March 2024 44,340.56 341.564.47 The notes on pages l I to 12 forni part of these financial siatements.
Balance sheet as at 3141 March 2024 2024 2023 Curr•nt a55•ts Debtors Cash at bank and in hand 341,564.47 341,564.47 44.340.56 44.340.56 Credttors Amount falling due within one year Net ¢uront assets Net assets 341,564.47 341,564.47 44.340.56 44,340.56 tharitylunds Restricted fund5 341,564.47 44,340.56 TOTAL FUNDS 341.564.47 44,340.56 The financial statements have been prepared in accordance wrth the provisions applicable to small entities Wlthin the Charities Art 2011, and in accordance with the Financial Reporting Standard lor Smaller Entities leffective January 20151. The financial statements were appr(wed by the Trustees on behalf bv (date) and signed on their Eleanor ykes Rosie Raffertv The notes on pa8es 1110 12 fomi part of these financial statements. io
Notes to the fiDancial ststsments for the period ending 31st March 2023 l. A¢¢ounting pollcles 1.1 8a5is of preparation of financial statements The financial statements have been prepare(l in accordance wtth Accountin8 and Reporting by Charities.. Statement of Recommendeil Practice applicable to charities preparin8 their occounts in accordance with the Financial Reportin8 Standard for Smaller Enttties published on 16 july 2014, the Financial Reporting Standard for Smaller Entr(ies leffe¢tive January 20151 and the Chaiities Act 2011 and applicable regulation5. The financial Statements have been prepad to gi¥e a 'true and fai view and have departed from the Charities IAccounts and. Report51 Regulations 2(K)8 only to the extent requirèd to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities- Statement Df Recommended Practice applicable to charitie5 preparing their accounts in accor(lance with the Financial Reportin8 Standard for Smaller Entities published on 16 Juty 2014 rather than the Accountin8 ènd Reporting by Charities- Statement of Recommended Practice effectNe froFn l April 25 which has since been withdrawn. Assets and liabilities are inrrtialty recognised at histoncal Cost ortransartion value uTrles5 Otherwise stated in the relevant accountln8 policy. 1.2 Fund accountlWl8 General funds are unrestricted fijnds which a available for use at the discretion of the Trustees in furtherance of the general objectwes of the charity and which have not been designate(I for other purposes. 1.3 Income All incomè is recognised once the charity has entitlement to the income. it 15 probable that the income will be received and the amount of income receivable can be rneasud reliably. Inc¢me tax recoverable in relation to donation5 received undei Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to inve5tmenl income is recogni5ed at the time ihe investment income is receivable. 1.4 Expenditure Expenditure is recognised once there is a legal or constnjctive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure 15 accounted for on an accruh15 basis inclusive of VAT. All expense5 Including sUPPOrt 95ts and governance costs are allocated to the applicable expenditure headin85. 1.5 Interest receivable Interest on fijnds held on deit is included when reteivable and the amount Can be measured reliably by the charity; this 15 normal upon notification of the interest paid or payable by the bank. 1.6 Debtors Other debtors are recognised at the settlement amount. li
1.7 Cash at Bank and in hand Cash at bank in lTrènd includes cash and Short terni high liquKI investments with a short maturity of three months or less from the date of acquisition or opening of the deposlt or similar account. 1.8 Creditors and provlsions Creditors and provisions are recognised where the charity has a present obligation sUEtIng from past event that will probably result in the transfer of fvnds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and Provisions are normally cognised at their settlement amount after allowing for any trade discounts due. 1.9 Financial instruments The charity onty has financial assets and liabilities of a kind that qualify 05 basic financial instruments. Basic financial instruments a initially re¢ognised at transaction value. 2. Income from donations and legades Orle donation totalling £IOO,000 vtss receNed in the ffjporting period from the Lucille Foundation. Rdund of advances by ZayoHub Zambla In 2022-23. ZayoHub Foundation IUKI purchased vehicles on behalf of ZayoHub Zambia in older to access a substantial discount Toyota, available to European and North American charities land not African charities. ZayoHub Zambia subsequently received funding for these vehicles and used it to repay the expendtture made by ZayoHub Foundation IUKI on the vehicles. The cash remain5 available for further donations. grants and expenditurès that meet the charitable purposes of ZayoHub Foundation (UXI. Donatlons Expenditures incurred Dn behalf of ZayoHub ZamtrA"a were spÈtialist advisory support on carbon pro8rammin& and UK consLrltan¢y tees for advite on the water development programme. 5. Costs of generating income Costs of CIO management and fundraising in the year were zero. Trustees volunteered their time and met their own expenses. & Go¥ernance costs No costs were incurr@d for governance. TTUStees received no payment and were not reimbursed for any costs it)¢urred in executing their role as trustees. 7. Related party Iransartions The are no related party transactions during the peTi(Kl requiring disclosure. 12