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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|
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|||||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|
##
|Swaziland
C|haritable
Trust||||||
|---|---|---|---|---|---|---|
|||Consolidated|and Charit
Balance Sheet||||
||||31 March 2022||||
||||Group||Charity||
||||31.3.22|31.3.21|31.3.22|31.3.21|
||||Total|Total|Total|Total|
||||fund|fund|fund|funds|
|||Notes|F|E|6|8|
|FIXEDASSETS|||||||
|Tangible assets|||5,279|5,980|28|37|
|Investments|||||||
|Investments|||1,195.877|1,160,077|1,212,199|1,175,336|
|Investment|property||273,104|255,320|||
||||1.474,260|1,421,377|1,212,227|1,175,373|
|CURRENT ASSETS|||||||
|Stock||9|98|111|98|111|
|Debtors||10|8,080|7,456|5,082|4,442|
|Deposits with|brokers|11|132,290|221,289|132,290|221,289|
|Cash at bank|||79,277|71,070|75,226|67,345|
||||219,745|299,926|212,696|293,187|
|CREDITORS|||||||
|Amounts
falling due||12|(13,986)|(12,907)|(7,362)|(5,534)|
|within one year|||||||
|NET CURRENT ASSETS|||205,759|287,019|205,334|287,653|
|TO'TAL ASSETS LESSCURRENT|||||||
|LIABILITIES|||1,680,019|1,708,396|1,417,561|1,463,026|
|NET ASSETS|||1,680,019|1,708,396|1,417,561|1,463,026|
|FUNDS|||||||
|Unrestricted|funds|13|1,680,019|1,708,396|1,417,561|1,463,026|
|TOTAL FUNDS|||1,680,019|1,708,396|1,417,561|1,463,026|
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|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
|||Office||
|||furniture||
||Leasehold|and|Office|
||Improvements|equipment|equipment|
||Subsidiary|Branch|UK|
||6|F|6|
|COST||||
|At 1 April 2021|1,701|624|1,155|
|Additions||||
|Exchange differences|119|162||
|At 31 March 2022|1,820|786|1,155|
|DEPRECIATION||||
|At 1 April 2021|1,701|624|1,118|
|Charge for year|||9|
|Exchange differences|119|162||
|At 31 March 2022|1,820|786|1,127|
|NET BOOK VALUE||||
|At 31 March 2022|||28|
|At 31 March 2021|||37|
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|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||||
|FIXEDASSET INVESTMENTS||
|---|---|
||Listed|
||investments|
||F|
|MARKET VALUE||
|At 1 April 2021|1,160,077|
|Additions
Revaluations|60,495
~24,695)|
|At 31 March 2022|1,195,877|
|NET BOOK VALUE||
|At 31 March 2022|1,195,877|
|At 31 March 2021|1,160,077|
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|Fixed Ass|et investm|ents|||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||F|F|
|Listed investments|||||1,195,877|1,160,077|
|Investment|property|- Land and Buildings:|Subsidiary|- see note 7|273,104|255,320|
||||||1,195,877|1,415,397|
|||||Cost/Market|||
|||||value when|||
|Listed investments||||gifted
6|2022
f|2021
f|
|Fixed income||||99,616|101.867|102,793|
|UK equities||||114.186|296.185|292,726|
|Overseas
Alternatives|equities|||271,736
24,980|766.685
31.140|734,282
30,276|
|||||510,517|1,195.877|1,160,077|
|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;||||
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|INVESTMENT PROPERTY||
|---|---|
|FAIR VALUE||
|At 1 April 2021|255,320|
|Currency
translation|17,784|
|At 31 March 2022|273,104|
|NET BOOK VALUE||
|At 31 March 2022|273,104|
|At 31 March 2021|255,320|
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|STOCKS||||
|---|---|---|---|
|||31.3.22|31.3.21|
|||2|F|
|Stocks||98|111|
|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|||31.3.22|31.3.21|
|||F||
|Accounts receivable||2,937|4,442|
|Other debtors||5,143|3,014|
|||8,080|7,456|
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||||||31.3.22|31.3.21|
|---|---|---|---|---|---|---|
||||||F|E|
||Deposits|with|brokers||132,290|221,289|
|11.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||
||||||31.3.22|31.3.21|
||||||8||
||Taxation|and|social security||299|285|
||Other creditors||||13,687|12,622|
||||||13,986|12,907|
|12.|MOVEMENT||IN FUNDS||||
||||||Net||
||||||movement|At|
|||||At 1.4.21|in funds|31.3.22|
||||||F|6|
||Unrestricted||funds||||
||General|fund||1,708,396|(28,377)|1,680,019|
||'TOTAL|FUNDS||1,708,396|~28,3777|1,680,019|
|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)|
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|Compar|atives|for movement
in funds||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.4.20
f|in funds
F|31.3.21
8|
|Unrestricted||funds||||
|General|fund||1,476,066|232,330|1,708,396|
|TOTAL|FUNDS||1,476,066|232,330|1,708,396|
|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 current|yea|r 12 months
and prior year|12 months
combined
position
is|as follows:||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.4.20|in funds|31.3.22|
|||||8|F|
|Unrestricted||funds||||
|General|fund||1,476,066|203,953|1,680,019|
|TOTAL|FUNDS||1,476,066|203,953|1,680,019|
|above a|re as|follows:|||||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|||||F|F|8|
|Unrestricted||funds|||||
|General|fund||229,331|(284,289)|258,911|203,953|
|'TOTAL|FUNDS||229,331|(284,289)|258,911|203,953|
##
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|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|
##
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|||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|