Owity registratlon nurnber: I1936 The UK Friends Of Sumbandila Scholarship Trust thè Year Ended 31January 2024
The UK Friend5 Of Sumbandlla Scholarship Trust Contents Reference and Admlni5tratfr4e Details Tw5tee5' Report 24 Independent Examlnees Report siatement of flnanclal actl¥ttle5 8alanceSheet Note5 lo thefinanclal statements &13
The UK Friends Of Sumbandila Scholarship Trust Reference and Admlnlstratlve Detalls Chknname The UK Frlends Ofsumbandla StholarstrAp Trust tharltyreg151rlon ftr I36 28 Epplè Road irmdon Le*h Brlst( Antolnette varUlle Armlrew Dad Vlalford Dougla5 RKhard Floemle Shanne Boyd Emma Vernettl Independent examlner charter Attolmtants 114 St Martrn'5 Lane Cv4ent GardeD WC2N 48E Barcltys Bank Pk I ChutthMI PI E14 5HP Pasell
The UK Friends Of Sumbandila Scholarship Trust The Tfustees present the rep¢)rt and finarKlal 5taiernents for year ended 31 January 2024. Thè finènclal ststèments havt bttn prepared In accordan with the attounting policie5 set Qui in note l of the financlal statements comply¥Ath thè Charkles Att 2011, the Memorandum and Artldes of Assothtlon, and AttountlnB and ReportSn8 by charIt5. Statèment of Remrnmended Pfactlce applkable io the Rnantial RÉpon$ Standard ?ppllcable In the UX and Republk of Ireland IFRS 1021 ItffectNe l January 2019k ltharitbes SORP IFR510211, the Flnandal Reportkn8 Standard apèbIe in the UK and R¢publk of Irnd IFRS 1021. Struthjre. and TheTrustees shall hold theTn Fund and Its Income OnT{U toath them In suth woportlons and In suth manner In respects a5 theTtee5 shall from thne to tkne thlnk fitfor suth charitable purposes as theTntstee5 In thelr absolute dlsuetion from tlmè ta tlme thlnk fft and, in partkular Iwlthout predICe to the generality of the fore8olngl. the advancement of edutatk>n a1 the pre4enlk>n or rellefof po¥erty respert of thldren your people In Southern Afrlta. TheCharityi58overned bya deedof settlementdated08Awt202Dand15 arteTed charlty. number 1190936. Trustee5 The Trustees. who served throUUltheYe0r are: Lelgh 8rlstow Andrèw David Walford Douglas Rlchard HDEmle Shanne Boyd Antolnette vanderpIe Ernma VemettS was app(ted as a Trustee NOrner 2023 Antolnette VandefpuSle was aprrted as a Tfttstee on on 26th May 2023 Method olappolnthient or elecuon of TtEe% The management of the tharity15theresponslblliyoftheTrustees¥thoarèelected and COthOPted underthttem oftheTnt deed.ThÉTnee5 will Identifytheneed toobtakn anyaddltkl tralnlngandse•k professlonal advlce wherè ntcèssary. Rlsk manapment The Trustees have assessed the mairy risks to whth the drity 15 expDsed. in rtular those related to the opèratlons and finances of the charity. and are satlsfied that systems and protedures are In Pla to mltl8ate our exposure to the major rlsks. Polld•s and obJecths In Ilne wlth the actfvldes ofihe Sumbandlla S¢holar5hlp TrLSt. the ClwitV5 skgter chm. It Is expetted that the Charltywll make donaiknis in the r1 of educatknn for tho Ur1¥. Page12
The UK Frlends Of Sumbandila Scholarship Trust Thè Trustees have wlde power5 of In¥trnent and are empowered to apply the IrKome of the Tnt for such charitable purposes orto such tharItab IrlItt as theyshall. at thdrdlstrth. deem ellglb Adlvltles of jthlevlry oble¢Y¥es In plannln8 the Charlvs actlvltles. the Trnstees have thEn CaTefvl conslderathJTr to the Charlty Comrn155kJn's 8uldanceon putlCbenefi1 and considerthatalldonatl pats follwthinsixhscope. Grant maklnl polldes All Income WMI be used to supportthtwork of the Sumbandma Stholwthlp TrusL based In South Afrlca. wlth the exceptlon of the HNE Proprt In Zimbabwè. Rthlew 01actIll•S For the current perlod retelpts amnted to £88.96012023-£44?25). Fundralsln8artl¥ttl•s DurlnB thè porltsd thè Charity fundralsed thmLyh thekntGF•k¥&8e and on801 wlatlonshlps vthh prevlous donors. It Is the Tru5tee5' poIKy to utlise all YKome •rislw altlwh In any go yew a surplus or defidt arlse, th• slze ot whlch may vary accordlng to the of Brant payments. In the event of a deflclt. The Sumbandlla Stholarshlp Trust have ¢Mfinned that they ¥AII prAde Ihwndal yjpport to the trust to allow bt to contlnue as a 8olng concern. This en5ure5 that the trust con It (Ure obl4atlons and offer adequate grants to approprlate CaU5e5 whlch may cometo the attention oftheTru#ee< in thttfirturt Fulure dewlopmwrt The Charlty 11 alm to contlnue sUpp(l In parUcularto the Sumbandila Scholar5hlp Trust forthefore5eeable future andwlll lookfort)therworth7thile¢•JsestOSUPPLrt Page13
The UK Friends Of Sumbandila Scholarship Trust ststement of trustfte< reSpr[lI¢S The ttee5 are re5p¢hislble for prnpari the Tntstees. Rewt and thè finandal statements In accordance pplkable Law and re8ulatlor The law appIlble to chJrltles kn England & Wales requrn the trustees to prepare thanclal ststemeThts for eath finantial year In accordance wlth Unlted KknBdDm General ACcepd AcCntIre Practlce Iunlted Klngdom A¢¢ount5n8 Standard5 aNI apkable lawl. The trusteES mu5¢ not approvethe finarKlal Stat)ents unless they ar• 5atlsfied that they gl¥e a true and falr view ofthe 5tste of affs of the thailty and tsf thÈ Incomlr¥ rèsourcès and appllcatlon ofresotsrtes. 5ndudln8thelncome and eyhditwe, of thè dwityfor that riOd. Sn preparln8 these finandal statements. the tntstees are reothd to." a) select svltable accounth)8 pdkles and apply them (S1enr. b) obséwvè the method5 and pr5 In the tharibes SORP: c) makejudn1ts and accountk esthnas thatare reasonable and prukn¢ d) state whètherapplitable UK Acc¢yJntKigStsThJards have been follryed. 51Wert to an¥ materlal departures dlsdosed and explalned In the financkl ststernen e} wèparè thè fknand31 ststements on the8ohigconrern basts 15 Inapwoprfate to presume that the charlty wlll conttnue to operate. The trustees arè responsIbftsrkeenE sufflc1entacc0unng recNdsthatdl%lose wlth reasonablea¢¢uratyatany tlme the financial posltlon ofthe tharity arwj enable them to ensure thal the finarKial 5tstements complywtth the Charitles Att 2011, the Charity IAccwnts and Aepcvtsl Res1$ 2LI)8 and the provlslon5 of the trust deed. They are also respon55ble for le&Y1rd6 the assets d the th¥lty and hente for tsklnz reasonoble step5 for the preventlon and detertlon ol Iraud and other*re8ularities. Approved by theTrustees and 5i£ned on thelrbehalfbr. LelBh Br15tow Tnjstee Date_ Page14
The UK Frlends Of Sumbandila Stholarship Trust Independertt &arnIn5 Report totheTTh5tee5 ofThe uKFrfWS ofsumbandlh $dr$tr Independent Exarnkn•es ft•wt to thTt50fThè UK Frf•ndsafSwbandla Stholayshlp Trust I reportto the trustees on my eXamInaOn olthe flnanclal ststewthts ofThe UK frlends of Surnbandlla SchoLirshlpTrustfor theyearended 31 January 2024 whlth comw5e the Statement of Fin(la1 ActTriities. the Balan Sheet and related nate Th15 report15 made solely to the chariirfs trvstee5. as a boty. In accordance wlth sectlon 145 of the Charttles Act 2011. Mv work has been undertaken so thai I mht stat th thè tharitvs trustees those matter51 am required to 5tste to them In th15 report and for no other purpose. To the fullest extent perniitt by taw. I do not attept or assume responsiblllty to other than the charlty and the charltfs trustres as a body. for mywork. fo¢ this repc¢ orforthè oplnlons I havè formed. Responslbllltlts #nd basls of report A5 the trustees of charlty you are responslble for the prepara11 of financlal ststements In accordance wlth the requlrements of ihe Charilles Art 2011 {theAcfl. I report In respect of my exarnlnatlon of the charlty's finaidal thtèments cafried under settion 14S of thè Ad and In carrylng out rny examinatlon I have foll(rwed all the appmcable Dtre¢tks by the Charlty CommIsSk under sectlon 14515llbl of the Act. Ah Independentexamlnationdoesnot Involve8atheringallttevidentethatwould be required in an auditand consequently does notcover oll the rnatter5 that an auditorconslders in their oplnion onthe finoncial ststements. The plannlngand conduct of an audlt goes beyond thè Ilmited assurance that an independent examknatlon can c0nsetyent. I expre55 no oplnlon as to whether the flnandal ststet5 present a'twue artd falrf Vlew and rny report Is Ilmiied to those 5pedfic matters set out In the kndepeThdent examinerf5 ststernenL Independentexamlnerfs slment I hove corneted my examlnatlon. I Cobthm) that M materfzl matter5 he c¢yTre to my attentk>n In connertlon wlth the examlnauon giv1 me cause io beleve that In any materfal respert: Kcountln8 records were not kept in resptct of the tharity as wulied Iw5ectlon 130 of the Prt" or the financlal staiements do not accord wlth those records: or the finantial statements do not comply the appllcable requlremEnts COmIre the forrn content of acrnunts Set out In thÈ Charlt1è5 IA¢counts Reports) Re8ulatlons 2{ otherthan any requlrement that the accounts a'tweand falr vlew whlch Is not a matterconsidered as partof an Independent examinatiorL I have no concems and havt come across no other matters In connedlon with the examination to whlth attènikn should be drawn In thls report In order to enablè a proper und*rstsndkn8 Of the financlal ststements to be reached. Ru55ell Joseph ACA Bourner Bullock Chartered Accotants 114 St Martln's Lane Covent Garden London WC2N 4BE 2 August 2024 Pa8e15
The UK Frlends Of Sumbandila Stholarshlp Trust Statement of Flnanclal Actl¥lties for the Year Ended 31 January 2024 Totslfvnd5 funts 2024 Donathin5 44.925 Total Income 44.925 Expendlture oth. Charltable aciivliles 1385041 1385041 11,4011 Fundralslnecosts Total expendlture 14et mtNèments In funds 173951 145.8991 43.061 17.3951 L45,8991 43,061 11,6011 43.324 Reundll•tlon of Total funds brOhtf0¥ard 43,570 43.570 246 Totsl filnds cxrfed fo¥w•rd 861 43570 Page16
The UK Frfends Of Sumbandila Stholarship Trust Batance Sheet as at 31 Januuy 2024 Cutrert a4•ts Cash at bank and Sn hand 85.4140 Other debtor5 Total current assets CredIto. Arnnts lall1 the TAlthln om Net cuffertallets 44.770 {1.2001 11,4401 86.631 43J70 Netassets 4370 ThefvTrd5 ofihe thxkr. Unre5trkted IncLNne funds 86.631 43.570 Totsl c11 fvnds 86ffiai 43,570 Approved by theTrustees on 2024 and 5tgn¢d w thelrbehatfby. Trustee Pa8e17
The UK Friends Of Sumbandila Scholarship Trust Notes to the Flnandal Slatrments forthe Year Ended 31 January 2024 At¢01P01de5 8asls of pr•p•rollon The financlal stsiements have been prepared In arcordance wlth ACCOUnnI and Rèportlng by CharitSe5: Statement of Recommendèd Prattke appllcable to ch¥116es prep¥lng thelr accounts In accordantè wlth the Flnanclal Reportlng Stsndard appltsble In thè UK and Repubk of Iretsnd IFRS 102) leffectlve l January 20191- ICharitiE550RP IFRS 10211. the Financlal Repxtin8Starth aptible Inthe UKand AEpubllc Df Ireland IFRS 1021. The flnandal ststements have been prepared to 8fve a'twe and falrf VIEW and havè departed from the Charitles IAccounts and Reportsl Re8ulatlon5 2008 to the extent lere to pro¥ldÈ a 'true and falr vlevl. Thls departttre has Involved followin8'AccOuntiJ and Reporting by Charbties: Ststement of Retommended Practice applicable to charIt$ preparln8 thelr accounts In accordance 7Affth the Financlal Aeportln& Standard appllcable In the UK and Republlc of Ireland IFRS 1021 Isecorbd Edltlonl rather than the ACcounnE ènd Reportlng by Charftles: Statement of Recommended PTr(IKe effecti from l 2(XIS whkh ha$ since been withdrwn. The UK Frfend5 Of Sumbandlla Sdwlarshlp Trust meets the dellnftiw of a benefft entlty under FRS 102. Assets and llabllltie5 are InStialty rec¢*ned cost N transaction ¥alue unkss otheTh¥ts• statsd In the relevantac¢ountlTh% polky notes. GDlryConcern The financlal statements havè been wepartd on a 8olnB c&icem ba5Js. Thrw&htKrt the year, and a5 atthe ealance Sheet date. the Charity has positivè assèts with svfftient cash held to aff liabllltles astheyfall due. The malorlty of the Trusvs expected expendlture relatts to dwritsblè donations and 8rants made at the dlscretlon of the Tru5tee5. These grants are fded by donatknn5 rnade to the Charity. aftw dèductln8 directly a550clated fundralsln8 costs, and aretsn pald on w the entitie50n¢e the income from the donations Is retted. Thè Charlty Itself has mlnlmal other•i8dw casts. Judoements The preparaUon ofthe finandal thtements requlresmarha8emeniio make jeements.e51IMatesaftd as5urnptlon5 that affert the amounts reported for assets and IlabllStles a5 at the balantè sheet date and the amounts reported for revenues and expen5e5 durin8 theyear. However. the nature of estimation mtans that actual outcomes could dlffèr from those estimates. In the Trustees. opinkn there are no swlficant lud8ements or key sources of estbmatlon uncèrtalnty. Fund polk¥ Unrestrlcted Income funds ire $eral fund5 thot avallable foruse at the trustee< dbscretton In fvrtherance of the oblectlves of the tharlty. Restrfcted funds are th05edonated for e1ft a parlaraTeèorf0rfi¢purpOse¥the u5eof wh5ch Is restrlcted to that arÈa N purpDSe. Pa8e18
The UK Frlends Of Sumbandila Stholarshlp Trust Notes to the Flnandal Statements for the Year Ended 31 January 2024 tom1 r•sourt•s Voluntary Income Indudlr donation5. 8Wts and le8aries is rtcognlsed where there Is entltSeTnenL certalnty of rKelpt and the amount can be MUred Tfftthh sufficient relbIty. Glfts In kjnd conslst of Items (knnated for resale. Incon for Items Is reCo8ed when they ¥e sold and th are valued ai the amount actLHlly lISed. The tharlty has nol rEcElThl any goods for use bythe tharity ltselF. On recelpt. donated professlonal serKKesarerecognised on thè basls of thèvalue of thè8ift tothe tharlty whlch ts amount the charfty would have been willing to pay to obtsin ser¥bces or facItIeS of equIlent econon benellt on the open market: a COrPOndIn8 amtyJnt1s then renISed In expendlture Sn the perlod of recelpt R•x>urc•s•Mp•nd•d LlabllltSes are recognlsed as soon as there 55 a legal or construrtfve obn8atlon commIttl thè charlty to the expendltwe. All expendltUTe Is accounted for on an acc basis ar¥J has been Classifièd undèr headlnqs that aggregate all colls rebted totr ategwy. Costs ofgeneratlng fithds arethe costs assoc woth attrattln1t4ntary kKome. Charltable e¥pen(ture comprfse5 those cost5 irKurred by the tharity in the delivery of Its actl%ths and ser¥lce5 for its beneficiarie5. It includes both c05t5 that can be allocatsd direttty to 5uth adr¥itles and ttr#)se costs of an Indlrert nature necessaryto supwt them. Grants payable are payments m to thlrd partbes In the lurtherarKe of the charitsble objoctives. Where the charlty8lves a 8rant wlth condltlonsforlts payment belre a spedfk level of 5eryke or outputto pro¥lded. such grdnts are only recognlsed In the SOFA ono the recw ofthe grdnt has ded the specffic seNlce or outyiuL Grdnts payable wthtyjt perfcYman¢e co11t#S¥re0Thr£8ntsQd inthea¢¢wntswhen a commltment has been rnade and there are no conlltlons to be met relati to the erant7thkh ramaln In the control of thÈ tharlty. Provbslons for grants are made kn the Intentton to make a gmt has been commur4cated to the reclnt but there is uncertairhty about eitherthe timin8 ofthe grantor the affAnt ofyant payable. Go1n3 tt>Sts Governan costs encompass expenses related to the rthlew and eNamlnatloD of the ststutory finandal statements. trustee m¢etlngs, and legal advlce on governance ar t0nrtitFtinal matters. The charges Incurred forthe5e 5ervlce5 afflount to £1,440. It Ss Important to note thatthe re4iewinK entity15 resPQTrslbleforthe rtvlew. notthq preparatlon. of the ffinanclal statement& Support (osts Supm costs Include centfol fvncVon5 WMI hwe been alknted to actFffty cost calegorles on a ba515 ¢onststent wlth the use of resources. Anjnclal Instruments 8aslc financlal Inrtruments. whlth IndLKk debtors. creditor5. cath and bk bala are Inltialty mèasured at Page19
The UK Frlends Of Sumbandlla Scholarship Trust Notes to the Flnanclal Slatements for the Year Ended 31 January 2024 transactlon pr{ OncdIng transartlon ¢osts and are wbseqUent carld at amortlsed c05t U5kng the efFect Interest method unle55 the arran8ement constltutes a transKtlon. *there the transactlonls measured at the presentvalue of the future recelpts dlscounted at a market rate of interest. Thè trust othhas baslt finandal InStrWts. Baslc finantlal assets and other debtor5. are Initi7 rw15ed prke. unle55 the arrdngernent ctsnstfitutes a financlng transacliory Tthere the transaction Is measured at the present vae of the future recelpts dlscounted at a market rate of InteresL Suth assws are subsequ11¥ ¢arrled at amortlsed cost u4nB the effertl¥e Interest method, less any knpalmienL Cash and ash equfval•)ts Gish at bank and cash in hd kntludos tash arKI short term hlghly liqvKI Investments vAth a short maturltyof three monthsarlessfromthedateof acqutsitlonoroythofthedepotandslmllarHccUnL Credltor5 Credltor5 are rerogni5ed where the charity ha5 a present obll8ailon rttuliiw from a past evènt that wll probab result In the transfer of fvnds to a thlrd party and the afflnt duÈ to settle the obll8atlon tan bè measurÈd or estknated rellably. Credltors arè norrna reco8n55ed at thdr se¢errt amount after allowln8 for d15counts due. Forekn cwrendes Transacilons In forelgn currencie5 are translated Into sterflng at exchange rate rullng at the date of the tTrn5attlon. Monetary assets and Ilabl1$ dEnDmlnated tn lore1 oxrende5 are translated Into SterMn8 al the closlng rates at the balance sheet date ar the exthry (liffwerKe5 are inthdpd In the 5ktenwt of firwndal activltles. Page 110
The UK Friends Of Sumbandila Scholarshlp Trust Notes to the Hnandal Slatements for the Year Ended 31 January 2024 Dona¢ioTrs Totsl Totsl 2023 Appeals and donat$ 44,925 44,925 Chathble actl 2024 Allocated Novernance and sUPPOrtC05ts {Thrte 41 1,601 Donatbons pald 38,504 1,601 Page 111
The UK Friends Of Sumbandlla Stholarshlp Tn Notes to the FIn(la1 Slatements for the Year Ended 31 January 2024 Suppryt Totsl Sndependent examTnÈrfs fees Bank tharges Rent pald 117 1.707 117 1,707 401 4824 1.601 Durlng the ytar. expendbture reirnbued to the Trustees totalw £nll12023 - £nlll and no Trustee5 have recefved remuneratlon12023- £nllJ. The charfty had no emplayee5 d1 the yearl2023- nnl. Page112
The UK Friends Of Sumbandila Stholarship Trust Notes to the Hnanclal Slatements forthe Year Ended 31 January 2024 Analysls of ch¥kable funds At JaN 2024 FelKu•ry re50urcos expended Analy offvd mo%*meThts Unrestrkted Sncome fund 43.570 88.960 145.8991 B6,631 43J70 W960 145,8991 86.631 Anatysls of¢hadtable Atl Febwary 2022 Ineomln8 resouTQS Resourtes expended At31 January 2023 Analysis offvnd moyements Unyestrlcted Intome fund 246 44,925 116011 43,570 Dobtors 2023 Credltors 2023 Proylslon loraudit fees 1,201 Pa8e113