## ||||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|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Swaziland
Charita|ble|Trust,
'|Trust,
'||||||| |---|---|---|---|---|---|---|---|---|---| |||Consolidated||and Chari||Statement of Financial||Activities|| |||||for|the Year|Ended 31 March 2023|||| |||||||Group||Charity|| |||||||31.3.23|31.3.22|31.3.23|31.3.22| |||||||Total|Total|Total|Total| |||||||fund|fund|fund|fund| ||||||Notes|5|6|6|F| |INCOME AND ENDOWMENTS|||FROM||||||| |Donations||||||60,776|40,673|60,776|40,673| |Investment
income|||||2|65,636|67,069|18,448|16,835| |'Total||||||126,412|107,742|79,224|57,508| |EXPENDITURE ON|||||||||| |Charitable
activities|||||||||| |Grants to Eswatini|organisations/institutions|||||90,381|76,931|90,381|76,931| |Support costs||||||53,782|50,946|11,550|10,050| |Governance
costs||||||16,630|13,204|4,260|3,864| |Total||||||160,793|141,081|106,191|90,845| |Net gains/(losses)|on|investments||||110,680|4,962|(40,832)|(12,127)| |NET INCOME/(EXPENDITURE)||||||76,299|(28,377)|(67,799)|(45,464)| |PRIOR YEAR ADJUSTMENT|||||||||| |RECONCILIATION|OF FUNDS||||||||| |Total funds brought||forward||||1,680,019|1,708,396|1,417,562|1,463,026| |TOTAL FUNDS CARRIED FORWARD||||||1,756,318|1,680,019|1,349,763|1,417,562| ## |Swaziland
Charitable
Trust|||||| |---|---|---|---|---|---| ||Consolidated|and Charit
Balance Sheet|||| |||31 March 2023|||| |||Group
31.3.23|31.3.22|Charity
31.3.23|31.3.22| |||Total|Total|Total|Total| |||fund|fund|fund|funds| ||Notes|6|F|5|F| |FIXEDASSETS|||||| |Tangible assets||3,406|5,279|21|28| |Investments|||||| |Investments||1,208,102|1,195,877|1,222,091|1,212,200| |Investment
property||423,094|273,104||| |||1,634,602|1,474,260|1,222,112|1,212,228| |CURRENT ASSE'TS|||||| |Stock|8|99|98|99|98| |Debtors|9|10,875|8,080|10,748|5,082| |Deposits with brokers
Cash at bank|10|70,710
52,625|132,290
79,277|70,710
52,291|132,290
75,226| |||134,309|219,745|133,848|212,696| |CREDITORS|||||| |Amounts
falling due||(12,593)|(13,986)|(6,197)|(7,362)| |within one year|||||| |NE'T CURRENT ASSETS||121,716|205,759|127,651|205,334| |'TOTAL ASSETS LESSCURRENT|||||| |LIABILITIES||1,756,318|1,680,019|1,349,763|1,417,562| |NE'TASSETS||1,756,318|1,680,019|1,349,763|1,417,562| |FUNDS|||||| |Unrestricted
funds|12|1,756,318|1,680,019|1,349,763|1,417,562| |TOTAL FUNDS||1,756,318|1,680,019|1,349,763|1,417,562| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |INVESTMENT INC|OME|||| |---|---|---|---|---| ||||31.3.23|31.3.22| |Property
income
Investment
income|||47,188
18,423|50,234
16,568| |Gross interest receivable|||25|267| ||||65,636|67,069| |NET (INCOME)/EXPENDITURE||||| |This is stated after|charging:|||| ||||2023|2022| ||||F|| |Independent
examiner's
remuneration
Foreign exchange
(gain)/loss|||2,130
56,282|1,932
~25,285)| ## ## ## ## |TANGIBLE FIXEDASSETS|||| |---|---|---|---| |||Office|| |||furniture|| ||Leasehold|and|Office| ||Improvements|equipment|equipment| ||Subsidiary|Branch|UK| ||F|F|F| |COST|||| |At 1 April 2022|1,820|786|1,155| |Additions
Exchange differences|~260)||| |At 31 March 2023|1,560|674|1,155| |DEPRECIA'TION|||| |At 1 April 2022
Charge for year
Exchange differences|1,820
~260)|786|1,127
7| |At 31 March 2023|1,560|786|1,134| |NET BOOK VALUE|||| |At 31 March 2023|||21| |At 31 March 2022|||28| ## ## ## |TANGIBLE FIXEDASSETS - continued|||| |---|---|---|---| |||Office|| |||furniture|| ||Motor|and|| ||vehicles|equipment|| ||Subsidiary
f|Subsidiary
E|Totals
F| |COST|||| |At 1 April 2022|16,058|2,869|22,688| |Additions
Exchange differences|~2,297)|~411)|~3,080)| |At 31 March 2023|13,761|2,458|19,608| |DEPRECIATION|||| |At 1 April 2022
Charge for year
Exchange differences|11,612
953
~1,660)|2,064
160
~295)|17,409
1,120
~2,327)| |At 31 March 2023|10,905|1,929|16,202| |NET BOOK VALUE|||| |At 31 March 2023|2,856|529|3,406| |At 31 March 2022|4,446|805|5,279| ## ## |FIXEDASSET INVESTMENTS|| |---|---| ||Listed| ||investments| ||E| |MARKET VALUE|| |At 1 April 2022
Additions|1,195,877
68,908| |Disposals
Revaluations|(34,603)
~22,0BD)| |At 31 March 2023|1,208,102| |NET BOOK VALUE|| |At 31 March 2023|1,208, 102| |At 31 March 2022|1,195,877| ## ## ## ## |Fixed Asse|t investm|ents|||| |---|---|---|---|---|---| |||||2023|2022| ||||||F| |Listed investments||||1,208,102|1,195,877| |Investment|property|- Land and Buildings; Subsidiary|-see note 7|423,094|273,104| |||||1,631,196|1,195,877| ||||Cost/Market||| ||||value when||| |Listed investments|||gifted|2023|2022| ||||F|F|| |Fixed income|||99,616|100,260|101,867| |UK equities
Overseas equities
Alternatives|||114,186
271,736
93,823|310,393
698,482
98,967|296,185
766,685
31,140| ||||579,361|1,208,102|1,195,877| |portfolio
in quoted Securiti|es:|||||| |---|---|---|---|---|---|---| |Description|||||Market value|%of| |||||||portfolio| ||||||31.3.2023|| |Unilever
pic ordinary
M&G securities
charifund|income||||96,370
88,990|8.0
7.4| |Baillie Gifford Shin Nippon
Findlay
park funds pic american
Baring Fund Managers
First Sentier INVRS (UK )fds Ltd|||||134,716
283,562
60,816
123,220|11.2
23.5
5.0
10.2| |Comparative:
2022|||||Market value|%of| |Description|||||31.3.2022|portfolio| |Unilever
pic ordinary
M&G securities
charifund|income||||79,465
94,783|6.6
7.9| |Baillie Gifford Shin Nippon
Findlay
park funds pic american
Reckitt Benckiser Group
First Sentier invrs (UK) FDS Ltd|||||156,729
327,481
62,802
116,611|13.1
27.4
5.3
9.8| |The trustees are not aware|ofany material|restrictions||which|might apply on realisation|ofthese assets.| |Cost or valuation
at 31 March 2023 is represented|||by:|||| ## ## |FAIR VALUE|| |---|---| |At 1 April 2022|273,104| |Revaluation|189,042| |Currency
translation|~39,052)| |At 31 March 2023|423,094| |NET BOOK VALUE|| |At 31 March 2023|423,094| |At 31 March 2022|273,104| ## ## |STOCKS|||| |---|---|---|---| |||31.3.23|31.3.22| |||F|E| |Stocks||99|98| |DEBTORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR||| |||31.3.23|31.3.22| ||||F| |Accounts receivable||8,850|2,937| |Other debtors||2,025|5,143| |||10,875|8,080| ## |10.|CURREN'T ASSET INVESTMENTS|CURREN'T ASSET INVESTMENTS|CURREN'T ASSET INVESTMENTS|CURREN'T ASSET INVESTMENTS||31.3.23|31.3.22| |---|---|---|---|---|---|---|---| ||||||||6| ||Deposits|with|brokers|||70,710|132,290| |11.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||| |||||||31.3.23|31.3.22| |||||||6|F| ||Taxation and social security
Other creditors|||||299
12,294|299
13,687| |||||||12,593|13,986| |12.|NIOVEMENT||IN FUNDS||||| |||||||Net|| |||||||movement|At| |||||At|1.4.22|in funds|31.3.23| ||||||6|6|F| ||Unrestricted||funds||||| ||General|fund||1,680,019||76,299|1,756,318| ||TOTAL|FUNDS||1,680,019||76,299|1,756,318| |Net mov|ement|in funds,
included|in the above are as follo|ws:||| |---|---|---|---|---|---|---| ||||incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| ||||5|6|6|6| |Unrestricted||funds||||| |General|fund||126,412|(160,793)|110,680|76,299| |TOTAL|FUNDS||126,412|(160,793)|110,680|76,299| ## ## ## |Compar|atives|for moveme|nt
in fun|ds||||| |---|---|---|---|---|---|---|---|---| ||||||||Net|| ||||||||movement|At| |||||||At 1.4.21|in funds|31.3.22| |||||||F|E|E| |Unrestricted||funds||||||| |General|fund|||||1,708,396|(28,377)|1,680,019| |TOTAL|FUNDS|||||1,708,386|~28,377)|1,6170,018| |Comparative||net movement|in funds,|included|in the above|are as follows:||| ||||||Incoming|Resources|Gains and|Movement| ||||||resources
F|expended
F|losses
f|in funds
E| |Unrestricted||funds||||||| |General|fund||||107,742|(141,081)|4,962|(28,377)| |TOTAL|FUNDS||||107,742|(141,081)|4,962|~28,377)| |A curren|t yea|r 12 months
and prior year|12months
combined
position
is|as follows:|| |---|---|---|---|---|---| |||||Net|| |||||movement|At| ||||At 1.4.21|in funds|31.3.23| ||||6|6|F| |Unrestricted||funds|||| |General|fund||1,708,396|47,922|1,756,318| |TOTAL|FUNDS||1,708,396|47,922|1,756,318| |above a|re as|follows:||||| |---|---|---|---|---|---|---| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| ||||6|6|F|6| |Unrestricted||funds||||| |General|fund||234,154|(301,874)|115,642|47,922| |TOTAL|FUNDS||234, 154|L301,874)|115,642|47,922| ## ## ## ## |A summary
ofthe financi|al
p|erfor|manc|e
ofthe sub|sidiary
is shown
b|elow:||| |---|---|---|---|---|---|---|---|---| |||||||2023||2022| |Turnover||||||47,188||50,234| |Cost ofsales and administration|||expenses|||~54,598)|~50,237)|| |Profit/(loss)
on ordinary|activities||before taxation|||(7,410)||(3)| |Tax on loss on ordinary
activities
Profit/(loss)
for the financial year||||||~7,410)|~3)|| |The above activity includes||loan|interest of anil (2022: anil) payable|||by Wiganco
(Proprietary)||Limited| |to Swaziland
Charitable|Trust, which|||is eliminated|on consolidation.|||| |The aggregate
ofassets|and|liabilities||were:||2023
f||2022
E| |Tangible fixed assets
Investment
properties
Current assets||||||3,388
423,094
461||5,251
273,104
7,048| |Current
liabilities||||||426,943
~6,395)|285,403
~6,624)|| |||||||420,548||278,779| |Representing
Shareholder's
loan||||||128,470||149,906| |Revaluation
reserve||||||359,826||199,280| |Profit and loss account||||||~67,748)|~70,407)|| |||||||420,548||278,779| ## |Swaziland
Charitable
Tr|ust|ust|ust||| |---|---|---|---|---|---| ||Detailed Statement of Financial Activities||||| ||||for the Year Ended 31 March 2023||| |||||31.3.23|31.3.22| |||||6|| |INCOME AND ENDOWMENTS|||||| |Donations|||||| |Donations||||44,776|40,673| |Grants||||16,000|| |||||60,776|40,673| |Investment
income|||||| |Property
income||||47,188|50,234| |Investment
income||||18,423|16,568| |Gross interest receivable||||25|267| |||||65,636|67,069| |Total incoming
resources||||126,412|107,742| |EXPENDITURE|||||| |Charitable
activities —Aid to Eswatini|||||| |Schools||||16,834|15,340| |Support for people with disabilities
OVC Scheme||||4,411
44,731|7,140
18,174| |Health and social welfare||||5,760|11,450| |Community||||9,263|6,064| |SSPScheme (Deans scheme)||||9,382|7,356| |Covid feeding scheme|||||11,407| |||||90,381|76,931| |Charitable
activities —Support||costs|||| |Property expenses
Investment
management|fees|||48,211
3,060|46,801
3,124| |Print, postage
&stationery
Other expenses||||601
399|163
485| |Travel &subsistence||||1,504|364| |Depn of office equipment|UK|||7|9| |||||53,782|50,946| |Support costs|||||| |Governance
costs|||||| |Independent
examiner's|remuneration|||2,130|1,932| |Bookkeeping
and secretarial
Accountancy
UK||||5,980
2,130|5,905
1,932| |Accountancy
Swaziland||||6,390|3,435| |||||16,630|13,204| |Total resources expended||||160,793|141,081| |Net expenditure
before|gains and||losses|(34,381)|(33,339)| |Realised recognised
gains and||losses|||| |Realised gains/(loss)
on investments||||(22,080)|(24,738)| |Gain on revaluation
of investment||property||189,042|| |Foreign exchange
gain/(loss)||||~56,282)|29,700| |Net income/(expenditure)||||76,299|~28,377)|