Charity re8i5tratb)n number.. 1190936 The UK Friends Of Sumbandila Scholarship Trust ffinual Financial Statements for Year Erwjed 31 January2025
The UK Friends Of Sumbandila Stholarshlp Trust Contents Referenre and Administrati¥e Oetsls Twstees. Report 24 Independent Exarrynerf5 RepDrt siatement of fana81 a¢tNitses Balance Sheet Note5 to the financial 5tstements 8-13
The UK Frlends Of Sumbandila Scholarship Trust Reference and Administralive Detsils Charitynamr Tr* UK Frd$ Of&Jrnbanda SthDlaT5hkJ Trust Charityreii5tration Thnber 1190936 Reglstered oifKe 11 Buckingham Sir London WC2N 6DF TNstee5 Lh Brisi Anioinette Vartderpu4e tlougL15 Ahd Hoernle Emma Vemeui Andwew Owid Walford (Resigned on 5th ollune 20141 Shanne Boyd IRe5wied on 3"ofMay 20241 kndEpendent tyamkner Brner Bvllotk Owrtered kcourbl3nt5 114 St Martln'5 LJ Coveni Garden London WC2N 4BE nkers earclays Bank Pk I Churchill Ilace London E14 SHP Pagell
The UK Friends Of Sumbandila Scholarship Trust Trustee5' Rep(vt The Trustees pre5erit their report ènd fThnclal statements for the year ended 31 Januay 2025. The financial siatrments have been prepared in accNdance with the accounting politie5 set out in note l of the finanoal statement5 complywith the Charits Att 2011. the Memwanthm and Artirle5 0fA5SOCWtD, and Accountingand Rewrting by Chanli25= 5totement of RecornmEnded PractKe applicable to the FinaTrcial Reporting Starwjard aPF4Kable in the UK and Repubk ol Iland IFRS 1021 leffertive l January 20191- (Charities SORP IFR510211. thè Financial Reporting Standard applicablein the UK and Republx of Irdand IFRS 1021. 5truclurèi govern(e. and rnanwent Conslltytlon Th•Twsi••s shall IM)Id theTrust Fur and its inwrnt on Trust to appPT Ihern in yxh proportions and in such manner in all respetts as ihe Trustees shall from Dme to lime thuth fil loi suth tharirable purposts as theTrusttès In their ab$Dte discret•Jn fromtimE to time think fit and, In parEKular Ivjiihout prejudice to the generality of the foregoing). the advancemeni ol educaiion and the pre¥entTron or rel of ptyIn iespert ol ¢hiklrtn and youn¥ people in Southern Afvica. TheCharltyls8o¥emed byadeed ofsettlementdated 08Au8urt2020andisareBistered tharity, number I136. Trustee5 The Tru5tee5. who Served thQhoutihevtar are". Leigh Bri5tiyw Oouglas Richard Hoernle Antoinettè Vanderpuiiè Emma Verneiti Andrew David Walford I8Thed as a Trustee on S Ofj 2024 shan resigrsed as a Tru51ee on 03 May 2024 Method of •ppolntsnentw•ltttion of Truste The man4ement ofthe charityistheresponsJlity oftheTrusteeswho4fe elerted and cowed undèr theterms oftheTNst deed.ThTrusto•s will ikntifyih•n•edto(thinanyaddilKinal tra1¥ and5 professiDnal ad¥icE where necessary. R15k manaym•nt The Trusiees have assessed the major risks io whh the tharity s exposed. in porticular lated to the operation5 and finances ol the charity and are SlSfied that SV5tems and procedures are in place to mitigate our e¥posure to tht maior risks. Policle5 and ObctIveS In line w¥th the xtNitie5 of ihe SurnbandiL3 Schdar5hip Tru5L the Charity's ster charity. it 15 expetted that the Ch¥lty wlll make donations in the field Oledat for the underwivied. Pagel 2
The UK Friends Of Sumbandila Scholarship Trust The Trustees have wlde powern ol •ivestment and ait empowered to apply the income of the Trurt lor such tharirable puiposes or io 5uth Charlble in5tiiulions as they shall. attheir dixrfn. deem eliglble. A(tiville5 of achle¥lng objec In planning the Ch¥ilV'S auivitses. the Tnjstees have 8Nen carefvl c$•tn tL) the Charlty ComnMsy,S 8uidanceon pubh"c benefrt andwn5iderihatal dOnalpayts lallwithiTrsu¢hscope. Gralt makww pollcies All irorne will be used to 5UPPOrt the work of the 5mbandI1a Scholar5hipTw5L based South AfrKa. with the exception of the Yajayo Proitet in Zinbabw•. Revtew of a£lhitles Due to banking constraints and ConsKIernth of ihe Chri5 trKome. no financial suppcrt was distr5ed dirertly from ihe Charity's own bank account durine thts per. However, Marwyn madè payments on behalfol sUnda usin< Sumbandila UK fvnd5 they held. fhich slKwJld be regarded as dOnatiC frnm UK FriErHI5. For the current period re£eipts am(rtmted to É143.73112024-ÉW9601. Fundralslng activltles Ourin8 the pefiod the CharityfvndiJ15ed tPmgh the)uxGv4ing webpage and throwh oneolng rei)knships wr(h previws don0. •seNos pollty It 15 Ihe Tru5tees' policy to Ulilise all incoff* ar19 alth)u8h in any year a surPS or deficii may arise. the size of which rnay vary ac(ordiThB to the timing of Erant paymEn15. In the Event DI a deficit. ThE Sumbandil scholarship Twsi h•4e confirmed that ihey wll provide financial supwt io the tWSt to allow it to coniinue as a going concern. This ensures fhai the trusi on meei future otAigatvn5 and offer adewaie gran¢5 to appropriate causes whKh may corne to the attenti?n of tlLe Trustees the luture. Fyiure de¥elopme The Charsty will aim its continue its 511PPOrt in partirutar to the 5wnbandila kholarship Trust forthe foreseeable lutureand will lookforotherw¢ythwhilecau5e5t05uppDrL Page13
The UK Friends Of Sumbandila Scholarship Trust Statement oltrnstee< rtsponslbHItI•s The irustees are responsible foi pr•pariD8 the Trystee5' Report and 5tatement5 accordance with applicable law and re8ulat)n5. The law applicable to charitie5 in England & Waks requwes ihe trustees to prepare financial statements for each financial year in accordance with United KinEdom Gemiilty Attepted Accountie Praciice Iunited Kin¢dom A(countin8 51andatd$ and appliuble lawl. The trustee5 rnUSt not appro the financial statements unless they are 5at15fied that ihey give a true and fair vw of the siaie of aftsirs of ihe chawity and olthe in¢omin8 resources application olresource& in¢ludinE the inmrneand Expenditure. of the rhority lor that pEriDd. In prePne rhese hancièl statements. the twstees are rewired to: al seltrt suitable attountwy pokie5 aTwJ apr themcon5i%tentty: bl obseryt therneltsjds prwKWes in the thaiiiies 51XP: cl make jud8menis and account¥eStImate$ thatare reasonable ar pnjdent: dl stale whethef app1•b UK Attountin6 Stsndard5 have been fdkjwed. subiett to anyrnatewial departure5 disdosed and explainl M the rm3131 aatements. I prepare the finarKial Statements on the 801 concern bas ili5 inoppropriate lo presume that thttharity wll tontinue tooperate. The trusteesare responsiblefor keepinBsuffKient acmuntinB record5 that di5closewith reasonable accurary atany time the financial position OF the charity and enable them toensure that the financial statements comply with the Charbties Act 2011, the Charity (Account5 and Repwtsl Reguktions 2LlJ8and thE prLNi5ioll5 of the tn151 deed. They art also rponsiblE for leguardIng the assets ol ihe charity and hwKe fry iaking 350n3b steps for the prevention and detertion of fraud and otherirreEularities. Appraveil by the Tru51ee5 a1 4ned on theirthalF br. Leigh Bristow Trustee Dale Page 14
The UK Friends Of Sumbandila SdlarShIP Trust Independent ExninePsllepNt lothe Tnle5 ofTheVK FrierHls of ban10 5thDlars Indpptndent EM•mlnerfsflep to theTNstets olTh• U••nd$ ol 5dwlwshlp I report to the trustees on myèxamination of tht finantial ststemènts of The UK Friends of 1Mband11a lOrship for the vear ended 31 January 202S which comprise the Statement of Finncial Attmties. the Balan Sheet and related notes. Thi5 report 15 made solely to the charl$ trustees. asa bth. in actiYdce wth section 145 of the Charlries ACE 2011. My work has been undertaken $0 that I mighr sraie to tfrchaiit(s tyustees those matters l am fequiied to state to rhern in thi5 report and for rKJ other purpose. To the hjllest eefit pemiitted by , I do not accept or assunR responsknility to anyone other than the charity and thè charivs trustees as a t. lor ¥MrK for thi5 rtport. or for the opinions I have formed. ResponsSblitlEs and basls of rport A5the trustees ofcharitatye ¢¢>mpanyytyJ are re¥Inge lorthe weparntion of ttrfv)ancvalsiaiement5 in accordance wilh the requirements ol the Charbties Act 20111.tht AtVI. Having Satisfied mystll that the finantial statements of the dwritslle tompany art noi required to be audited under P¥t 16olthektand are eljible forindependentexamination. I report in respecL of myexamination ofthecharitable cornp¥,5 rinancial stateTht5 carried out under sertw 145 Df the Charitie5 Art 2011 1.the 2011 Arfl and in rry1Th8 out my examination I have Idlowed al ihe apF4Kabk realn$ given by the Charity undèr Settfi 14515llbl ol the 2011 Act. Independent emamintrfs rtatemni I have cornpleied my examinaiiork l Confwm that no fflaterial matter5 ha7R ¢iJrne to my atteniion in connection wilh the exarnination yving me Cause to believe that in any material re5pert-. accouniing records were not kept in respect olthe charitable coThwTryas requKed by section 386 of the 26ACt.. or the finala1 5tatementsdo not acrord wmth tlwxe rectyd5: or the financial ststhments do notcomplywrth the aCCnI1Th8reirefflts of5ect•Jn 396 ofthe 2C(6Actotherthan any requirernentthat the financial stsi•m•nts 8bV• a'tru• and faii¥iew whith is n*xa matier consmkned as part of an independent examinaiion.. or the fina131 statement5 have not bpen wepared in accordarKe with the methods and wintiples of the siatemeni of Recornmended Practice fur arcounting and vepDrtinE bytharitlE5af1CObetchar1tieS preparin8 their accounts in acco¥dance Wbth The Financial RepJrEirK8 Standaid aPP3e in the UK and Republic of Ireland IFRS 1021. I have no concern5 and have comeacross noother matters in coThnectbon wih theexamination to which attention shoukl be drawn in this report in orderto enable a proper undewandin8 of the financial staMen io be reached. Russell Joseph FCA Bournei Bullock Chartered Accountahts 114 51 Martin's Lène London WC2N 48E 27 November 2025 Page15
The UK Friends Of Sumbandila Scholarship Trust Stalement of Flnancial Pl¥ltIeS for the Yeai Ended 31 January 2025 Unre5trkled fthid5 Tutsl lund5 Totalfvnds 2024 Intomt fvom: Donations 143.731 143.731 143.731 143.731 8B,960 88.960 Trjtal irKorne Expendfture on: Charltable ac11lieS 11216341 157.1311 1122.6341 157.1311 138.5041 17,3951 Fundraiyng costs Total expenditure 1179.7651 1179.7651 136.0341 145.8991 43.061 Net movements in funds 13&0341 Retoncllatlon ol funds Tot¥ funds brou8hr forward Tot31 lufidsc*rled fonvard 86.631 86.631 43.570 50J96 SO.$96 86.631 Pagei 6
The UK Friends Of Sumbandila Scholarship Trust Balan¢e Sheet as at 31 January 2025 IDZ5 ZOZ4 Cash at bank •Dd In nd Other debtors 38,210 13.736 8S.440 2.630 Total current a55ets treditors: ArnouThtsfallin$ duEvMthln or* ar Net current ass Sl,Y6 11.3501 88.070 11,4401 50.596 86.631 Net assets SO596 84631 The lunds of tho th•ritrr. Llnfestritted income funds 50.596 86.631 Tolal thwity funds SO,S96 B6.631 Approved bytheTru5tees on 2025 and sId on their behalfby. Leigh 81i510W Trustee Page17
The UK Friends Of Sumbandila Scholarsh5p Trust Notes to the Finana31 Stsiements for the Year Ended 31 January 2025 Arcounthrypolkles sls of prepaTatlon The linanc41 staiemertts have been epared in ac¢wdaYKe with A¢rountin8 and Reportin8 by Charilies: Statement of Ilecommended Pfattice applicable to Charit preparing their in accordance wi(h the Flnancial Reportin8 Standard applitable in the UK and OF Irdand IFRS 1021 leffective l January 20191- Icharities 50RPIFRS 10211. the Fan(la1 Aeportir Standard applKable in theUK and Republic of Ireland IFRS 1021. The financial staiemenrs have been prepared to give a'irne and fairf and have departed Irom ihe Cbaritie5 IAc(ounts and RepLWts1 ReEulation5 2(rf)B On io the eertI required to provKle a 'true and lair view.. Thi5 departure ha5 ¥0ed following.(olIng and Reporting by CharrLies.' Statement ol Recomrnended Prattice applicable to ¢hariies preparM)E their accounts in a<CLydeilh the Financial Reportinc standard applicable irt the UK and Republic of Ireland IFBS 10211Second Edition) r31her than the Accounting and Reporting by Charities.. Statement ol Recommended PnrtKeeffelli4 from l 2(K15vknKh has sirKe bEW withdrawn. The LIK Friends 01 Surnbandila Scholarship Trust meets the definyiion of a public beneft entity under FRS 102. Assets and liabiliiies awe initialy ietognised at histoital cost or transatliDn Va unle55 OtheM5e stated in the rdevani accountiTha polKy notes. Golng Concern The financial statements have been prepared on a goiw concern basi%. Throulhout the year, and as at the Balance Sheei dale. the Charity has posltwe net a5sers wirh stsfficnt Cash held io meet all Ilèbililies as they fal due. The majortiy of the Trust's expected expenditure relaies w charitsb donatton5 and Erants made at the discretion of the Trustee5. These granis are lully funded ty donation5 made to the Charity. after dedu£iin8 direttlyassociated fundfaising wsts, and a ort paid on to the undeth.ng enti once ¢he inctyne fmm ihe donatM?ns is Ye1¥ed. The Chadty itself has minimal othoroneoin£ COMS. Judgements The preparat4in ofthe finanoal staternents require5 managementto makejLrflgements. eximates and assumpiions thai amert the amounts reported for assets and liabltties as at the balance sht date and the aUnts reported for revenues and expee5 during the yèar. However. the nalwt of estimation mèans that actual outcomes could differ from those esiimates. In the Tfllstees, opnion there are no st8nificani judgements or key souf ol eslimatlon uncertainty- Fund actountkni polry Vnrestritted income funds are lunds ihJt are aVOTkryble fty use •t the trusiees. dwetv)n w) furtherance of the objectives ol the charrtv. Restricted funds are tthosè donated fwuse in è partioJlararaof for spÈOr pwposts. thèuse of whth is restiirtèd to that area or purrv)se. Page18
The UK Friends Of Sumbandila Scholarshlp Trust Note5 to the Finandal Statements for the Year Ended 31 January 2025 Inrurnlng resou$ Voluntary tt)rne irKludire donation5. wlts and ciE5 15 recognised there 15 ¢ntiikmen¢ c•rtainty of rtteipt and the amount can bè measured with 5wffi(ient reliablity. Gifts in kind consist of itern5 donated for re53le. IKome lor sh iterns 15 recosnised wthen ihty art sold and thty a ¥ahJed at the amuunt artualty realwl. The rharity ha5 not red wyKoods for we by the tharity lise. On recelpt, donaied profeOnal 5ervKes are recogni5ed on the ba5i50f the¥ak of thep'ft io ihe charity which is the arnount the charity would have been mrilh.ng to pay to obtain servi(e5 or facilitie5 of equNalent econom benefit on the open markei.. a corresponding arnount is ihen recogn6ed in expenditure in the period of rettipt. Resour5 expended ti3bilities are rMIsed as soon as there is a legal OT t<Ktstrudivt olAi8aiion committing the charity to the expenditure. All empertditure 15 accounled lor on an ac£rna15 ba515 and has been classified under headihgs thai 4gwt8ate al costs related th thecate80ry. Costs of eenerafin8 fvnds are the tosts asst<iattd with attrxtwwvolurrtary irKoffle. Charitable expenditure wryrise5 ihose costs inwrred ty the ¢h¥ity in the dthery of it5 aCtrwtie5 and 5ervice5 for its benrficiaries. It includes both costs th can be alocated direckly to such aCtitS and those tosts ol an Indirect nature nere55ary to 5LlPPOrt them. Grant5 payoblE are payments made to third parties in the furthwan of the thèriubS obiectpies. Where th? charitygive5 3 grant with <ondi¢ions for itspayment beffig a specific level of service oroutput to be provided. such nts are onty rew8ni5ed in the SoFAonce ihewiprf olthe grani has PTo¥ideil thespecific seryKe oroutput. Grants payable without PErformanre conditionsare onty recogni5ed iheac(rwJntswhen a commi¢ment has be•n made and there are no condltions to bè met relatinE tothegrant whith reffja in ihe control of the charity. PrO510n$ For Etants are made T*then intention to make a grant ha5 been communated to ihe recipient b there is Ltncertainty about eirher the timin8 of ihe 8r•it OT the amovnt olgrant PaV3ble. Governance costs Governance costs encompass expenses related to the review and examM)ation of the 5tatvtory financial 5tatemeThts. trustee Meetings. and leÉal advice on eovernance or tonstituttonal mattw5. The charBes incurred lor these services amount to £1.350. It is important th rtha[the re¥en[l is reSwi9b forthe re¥iew. not the prtparatitsn. of the fsnancial 5taiemen Support costs Support costs include central lunttnS and hab been lOCated to actmty CV5t rate¥DfiE5 on a ba515 con5i5tent with the use of resources. Page19
The UK Friends Of SumbandSla Scholarshlp Trust Notes to the Finanaal Ststements for the Year Ended 31 January 2025 Basic financial insiiuments. whKh indude debi¢y% rreditor5, 5h 3TxI bank bal(e5, are initkilly rnea5ured at transa¢iion price in<ludi)E transactiort costs aThJ are subsequèntty carried at arnortised tost USI the effective interest meihod unle55 the arran8ernent constitutes a finarKrng iranSactn. where the transaction is measured ai the pr•s•nIlUt of the IUre re(eipt5 dcoUnted at a m3rket rateof interest. The trust ha5 basicfinancial instrume1. Deblors Basit finant*l a55ets and other debiors. ire knitially recogn15ed at transattion prfce. unless the arrnniemeThl constitutes a financinR tTan5artion. ¥ther¢ transadion is measurtd ar the present value of the fvture recetpts di5COUfited at a market rate of intere5L Suth assets are$ubseqTrIYcaT at amortsed the effertv inrerest method. less any impairmeni. Cash and ash equfvalents Cash at bank and rash in hd inclvde5 cash and short term hrÈhly I1 investments with a short maturityofthree monthsof tesslromthe date0lacqultion oropeningolthedepositand5imdaraccoLmt. CrEItar5 Creditors are re¢o8ni5ed where the charity has a present ob11atn resulting Irorn a past eveni that wll probably result in ihe transfer of fund5 10 a third party and the amount due to seitbe ihe obllgaiion (an be measured or estimated reliably. Credrtors are normally recoenised ai they Settment amtyjni after alh)win8 lor any dikount5 due. FweT8n currenriE5 Transaction5 in forew currefic are trafiated into er111¥ ai the exchange rate ruling ai the date of the transaction. Monetary a$5ets and Ivabilitses denominated ffl loreign c¥rrencTre5 are translated into steilinE at th• 105ing rate5 at the baL3nce sheet dale and rhe exchange differen£es are induded in the statement of financial aaivities- Page 110
The UK Friends Of Sumbandila Scholarship Trust Nates to the Financial Slatements for the Year Ended 31 January 2025 Donatlons Total nds 2024 Appeals and donalions Just 8i¥in8 net donation5 86.235 86.235 88.960 57.4% 143,731 143.731 CharitablE adivitle5 2024 Alocated governance and supm w515 (note 41 7.634 3.504 Donations pald 115.OD) 35.OCQ 34504 Page 111
The UK Friends Of Sumbandila StholahlP Trust Notes to the Finanaal Ststements for the Year Ended 31 January 2025 $POrt COSts Total 20Z5 TDtsI 2024 Independent examinerf5 fee5 Bank thae5 Rent paid 1.350 L350 1,680 117 1.707 6.116 6.116 7.634 3.504 During the year th)nation5totallinB £2S.LDJ wefe receNed Irom a Tftlee without restriction. These fund5 IVe been utili5ed bythetharrtyto meet itscurrent and Future employment costs. Ernpknes The charity had ont emph)ytt12024'. no empbyee51 tthowert pa4 £ll.41012024: £nill. Page112
The UK Friends Of Sumbandila Stholarship Trust Notes to the Financial Ststements lor the Year Ended 31 January 2025 Analysis of IhwitablE fund5 At I In((Mnl Restyjrtes FelKuary resourtes ejtptnded 2024 Atal January 2025 Ansts oln rn#%rnonts UnTe5tricted inrornefund 86.631 143.731 1179.7651 50.596 .631 143,731 1179.7651 so96 An*is ol thar•iablE fund5- F¥>5¥ In¢omln£ resources Resourtss ejtpended At31 J3nuary 20Z4 Fqbnjary Analysis g11d Unreslrfrted In¢ome fund 43.570 88.960 (45.8991 Debtors 20Z4 Otherdebtors 13.736 2.630 13.736 2.630 Creditors 2025 X124 Pro¥ision for re¥w fe05 1.39J 1.440 Pase 113