2022-03-31-accounts - Swaziland Charitable Trust

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		Page	Page
Report ofthe Trustees		1	to	3
Independent Examiner's	Report
Statement of Financial	Activities
Balance Sheet
Notes to the Financial Statements		7	to	15
Detailed Statement of Financial Activities		16	to	17

				Group		Charity
				31.3.22	31.3.21	31.3.22	31.3.21
				Total	Total	Total	Total
				fund	fund	fund	fund
			Notes	6	F	6	F
INCOME AND ENDOWMENTS			FROM
Donations				40,673	59,930	40,673	59,930
Investment income			2	67,069	61,659	16,835	18,175
Total				107,742	121,589	57,508	78,105
EXPENDITURE ON
Charitable activities
Grants to Eswatini	organisations/institutions			76,931	96,518	76,931	96,518
Support costs				64„150	51,105	13,914	13,999
Total				141,081	147,623	90,845	110,517
Net gains/(losses)	on investments			4,962	258,364	(12,127)	242,052
NET INCOME/(EXPENDITURE)				(28,377)	232,330	(45,464)	209,540
PRIOR YEAR ADJUSTMENT
RECONCILIATION		OF FUNDS
Total funds brought		forward		1,708,396	1,476,066	1,463,026	1,253,386
TOTAL FUNDS CARRIED FORWARD				1,680,019	1,708,396	1,417,562	1,463,026

5.	for the Year En TANGIBLE FIXEDASSETS - continued	ded 31 INarch 2022
			Office
			furniture
		Motor	and
		vehicles	equipment
		Subsidiary f	Subsidiary F	Totals f
	COST
	At 1 April 2021	15,012	2,270	20,762
	Additions		488	488
	Exchange differences	1,046	111	1,438
	At 31 March 2022	16,058	2,869	22,688
	DEPRECIATION
	At 1 April 2021	9,470	1,869	14,782
	Charge for year	1,482	111	1,602
	Exchange differences	660	84	1,025
	At 31 March 2022	11,612	2,064	17,409
	NET BOOK VALUE
	At 31 March 2022	4,446	805	5,279
	At 31 March 2021	5,542	401	5,980
6.	FIXEDASSET INVESTMENTS

The charity has the following investments	which	represent	represent	more than 5% by value of	the investment
portfolio in quoted Securities:
Description				Market value	%of
					portfolio
				31.3.2022
Unilever pic ordinary M&G securities charifund income				79,465 94,783	6.6 7.9
Baillie gifford shin nippon				156,729	13.1
Findlay park funds pic american Baring Fund Managers				327,481 62,802	27.4 5.0
First Sentier INVRS (UK ) fds Ltd				116,611	9.8
Comparative: 2021				Market value	%of
Description				31.3.2021	portfolio
Unilever pic ordinary M&G securities charifund income				93,288 88,345	8.0 7.6
Baillie gifford shin nippon Findlay park funds pic american Reckitt Benckiser Group First Sentier invrs (UK) FDS Ltd				209,559 285,792 58,482 116,376	18.1 24.6 5.0 10.0
The trustees are not aware ofany material	restrictions		which	might apply on realisation	ofthese assets.
Cost or valuation at 31 March 2022 is represented		by;

Net mov	ement	in funds, included	in the above are as follo	ws:
			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			F	E		6
Unrestricted		funds
General	fund		107,742	(141,081)	4,962	(28,377)
TOTAL	FUNDS		107,742	(141,081)	4,962	~28,377)

Compara	tive	net movement in fu	nds, included in the above	are as follows:
			Incoming	Resources	Gains and	Movement
			resources E	expended F	losses F	in funds f
Unrestricted		funds
General	fund		121,589	(147,623)	258,364	232,330
TOTAL	FUNDS		121,589	(147,623)	258,364	232,330

A summary	ofthe financ	ial perfor	mance ofthe subsidiary is sh	own below:
				2022	2021
					6
Turnover				50,234	43,484
Cost ofsales and administration			expenses	~50,237)	~37,108)
Profit/(loss)	on ordinary	activities	before taxation	(2)	6,376
Tax on loss Profit/(loss)	on ordinary activities for the financial year			~2)	6,376

The aggregate	ofassets and liabilities were:
		2022	2021
		f
Tangible fixed	assets	5,250	5,941
Investment properties		273,104	255,320
Current assets		7,048	6,739
Current liabilities		285,402 ~6,624)	268,000 ~7,373)
		278,779	260,627
Representing
Shareholder's	loan	149,906	140,144
Revaluation reserve		199,280	186,303
Profit and loss	account	~70,407)	~65,820)
		278,779	260,627

		31.3.22	31.3.21
INCOME AND ENDOWMENTS
Donations
Donations		40,673	59,930
Investment income
Property income		50,234	43,484
Investment income		16,568	17,647
Gross interest receivable		267	528
		67,069	61,659
Total incoming resources		107,742	121,589
EXPENDITURE
Charitable activities —Aid to Eswatini
Schools		15,340	53,092
Support for people with disabilities		7,140	6,082
OVC scheme		18,174	3,106
Health and social welfare		11,450	6,947
Community		6,064	3,241
SSPScheme (Deans scheme)		7,356	11,225
Covid feeding scheme		11,407	12,825
		76,931	96,518
Charitable activities —Support costs
Property expenses		46,801	34,845
Investment management	fees	3,124	3,657
Print, postage &stationery		163	540
Other expenses		485	289
Travel 8 subsistence		364	43
Dep'n ofoffice equipment	UK	9	12
		50,946	39,386
Support costs
Governance costs
Independent examiner's	remuneration	1,932	1,881
Bookkeeping and secretarial		5,905	5,696
Accountancy UK		1,932	1,881
Accountancy Eswatini		3,435	2,261
		13,204	11,719
Total resources expended		141,081	147,623
Net expenditure before	gains and losses	(33,339)	(26,034)
Realised recognised gains and losses
Foreign exchange gain/loss		29,700	22,343
Unrealised gains on investments		(24,738)	236,021
Net realised gains and losses		4,962	258,364
Net income/(expenditure)		~28,377)	232,330