CHAIRMAN’S REPORT 2020/21
It is with mixed feelings that I report to you on our operation as Budiriro this year. The Trustees were not able to meet in person in 2020 due to the Coronavirus pandemic that has affected all of us and changed the way we approach work, amongst many other things. I take this opportunity to reflect on the effects we have all felt, be it illness and sadly death, as I am sure we have all been affected in one way or another.
The education situation in Zimbabwe did not need the pandemic to add to what has for many years been a dire situation for the country. If first-world countries struggled to contain the pandemic with all their financial resources, developing countries like Zimbabwe are still a long way from catching up. Only recently have students returned to school in any way resembling what could be termed “normal”. In the case of Zimbabwe, our students are already in examination season; a tough period in normal times, but frighteningly so this time as the students have not had much meaningful education for the past two years. The pass-rate in last year’s O-Level examination series was dire at 24% for students attaining 5 subjects at A*-C-grade. However, the A-level students maintained a high rate of 81% which is comparable to prior years. The reason I highlight these figures is to demonstrate just what the students are up against in achieving their goals. However, as I always say to students, they need to trust the process, as that is key to them reaching their goals.
Due to the lockdown we were unable to spend all the money that had been budgeted. With students at home for months on end, we did look at ways of supporting the students in other
ways. However, our strict financial rules are limited to our purpose - to pay the fees of financially disadvantaged but academically able students. The logistics of providing this support was really challenging for many reasons. We are glad though that last year’s Upper Sixth students completed their courses and are able to proceed to tertiary education and apprenticeships. The task of selecting a new cohort of Lower Sixth students from the O-level students was an extraordinary challenge this year as the results clearly had extenuating circumstances affecting them, and it is always impossible to provide every applicant with a scholarship even though they all deserve one. Finance is always our constraint in this respect.
This is where our donors come to the fore. We are so grateful that our donors have continued to support us. The phrase “allweather friend” comes to mind and it is clear to me that you all believe in what we are doing and we really do appreciate this support despite the challenges that we are all facing. It is really true that virtually all your donations go to support the students, as we have no office, employees or fees. Trustees serve voluntarily in ensuring that this important work is carried out. That is because, like the students, we trust the process and know that change is coming to Zimbabwe, one scholarship at a time. As we look to the recovery, I have a great deal of optimism that the young people of Zimbabwe will not be left behind for long.
Sikhumbuzo Ngwenya
BUDIRIRO TRUST UK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 Hockley Wrlght & Co Limitgd Charterad AGcounLrynts
INDEPENDEfrrf EXAMINERS REPORT TO THE TRUSTEES OF TrIE BUDIRRO TRU8T UK I r8Wrt on th8 wxM)ts ofthe Trust forts 31 211. we 8et oui on pagos 1 to 2. Re•pa¢ll Rw)on8lblllVe8 of the Truste6s and Ex•nlner The ¢hadtls trustees arg rwsltAeforfv kNwarabon awwn¢& The th8ittys truste89 consklèrthat 8n audrt Is not vIr for Ihk year sth 144(2) of Act 2011 {th9 2011 kntll and th81 an in(kwndent 6¥&nitY)n is nad. It is my re3[81mIlfy lo: exami the niS {ffiJer l)n 14S ol tho W11 knti . to fdkny th8 pTct8reS laJ d•M in ts G01 gn by th8 Ctrolity CcffinMs6icffl (UrKlers 14q5Xb) of tho 3)11 Act)" aTh Bas1 of Indeponderf Ex•mlMrfI Rewt My exarnlnauon was aorM 7hith ts Gwwdl Dir11 givB bythe Ch Comrnisswjn. An examination IvdeS a review of the a(xxMrtry r[d$ ketrt by the charity and a c4)mparlson ofthe accounts pr888nknl %%ilh IFKJ88 re)1$. It aLso Induth conshration ol any unusual items ¢x (fi8Ctosures in the ax5. k¥¥j explanations from you as trustees conceming any such matteTr. The pr( ke (kb fK)t provKle all the evkA)ce that TrAr)uld be rwulred kn an audtt, and rxwtwenty no Op1r)n is gfven as to knetherthe accourts FKes8nt a'tr and fair viev/ and the repK¥t Is limited to those matters set OUL in the statement balow. Independent Examlnerfs Statsment In my ex8minaUon. l Th)tg f0Y.. 11) Donations and LJXe3 are as per aAIntI T[18 aNI tqnk 8tatements ofthe Trust. No independent Ver[on h8S ([1 (KJI. 12) Grdnts payab are as the rd5 IAnk statements TrusL No Indwndent verrfKatKJn h3s been cxri8d ¢xrt. {3) Grft ahy clmS are as per the aC¥ntIr aThJ Stat ofthg TrL No kndeyeTrJent ver11kan ha5 been Caled r Based on the accyJndrvJ records and ba statements. no fflalter has cCe to my allon. (11 glws mg r8asonatrAa cwsa to lOve that in any maiarlal rw Iha WLwemants: {a} to k88p aGL)INj I) ofthè 2011 ACL. aNI (bl lo prepw &xx)unts wlM¢h yd wth XIn11j WT ac)ng wuir8m8nts ( thè 2011 A have not iwi me( or 121 to byhlch, in my owwon, attention shrthj tre (tra¥ in Orderlo erAt a Fry)gruThlarslBndlThJ rrf Ihe accounts to be reached. Hodtloywrfght & CO Llmit8d Unil 15. No. 2 BulruslHs BU51r P8rk Coombe Hill Road Ea* tsrinstead RH194LZ Date: 8 Oraiter 2021
knthbYwxted 315t MarGh 2021 TOTAL 4¢0P4E tknabty15 th4ved vkn CAFarbY ord% 15,765 18.708 i.fso mEd stthd4r51Mp 8nd ITWI9 $sCshI} E M Haff Mara Irwfftefrryn Chrislrn&s dlnner Tot c(Kpurate d(XHtts COrpteorlIS Tax reC4alr on gm ad 15,765 aTr,i1 4tc £31,54Y Grants pad i&SM El4376 £B336 SURPLUS IDEwcifJAFTER GR1 OTHER INCCWE B8[& ffjtere5t (net Ollax) É¢ 21 Tl £18 OVERHEADS 1024 FBAddlstr&l0rR81jnE He of rr Lunch AGM Fuj r81skng eXpS Costs ofcthristsmas ditxr 144 278 210 Ttavel Iteratu. 11#r exwses Bank tharge5 and transfwfe8S NET SURPLUSI IDEFIC 1.150 9,403 DR[laRS[eC8iw8UTr)n ald t14705 £4114 Ap8yM&ntof£2A), sJl lo fv FB 2021 erxlso
BUDIRIRO TRUST UK BANCE SH as at31¥t March 2021 Current asEats Tax r&ftwKls due perdebto Uoyds TSB CurrentAo>Jurk¢ CAF Cash A¢(ouni AF Gold Acxx)unl (kR re Chrfstmasthner 19.088 25,7 11,075 t7.710 T9.078 Current Ilabllltlos S(trY ItOrS & acixuals TOTAL NET A5SEf8 IILIABILITIESI Accumulat Fd& SurrAus I Idefidtl bNr3rd 79.078 6qf14 Surydus I Idefldtl lorthe 15.edm SURPLUS I DEFICITI .682 T4018 Slgned By UK Treasurer. Emity Ch*Jbum D818'. 8 Octobar2021
Treasurers Report
The overall picture to March 2020 shows that we have spent less than our annual income this year for the first time in many years. Sadly this is mainly due to the changes in the local currency in Zimbabwe and the subsequent reduction in US Dollars required to pay the school fees from here. The total spent on bursaries this year was £15,376 compared around £38,000 in 2018-19. Regular donations remained stable at nearly £19, 000. With the addition of a named scholarship kindly donated by Alastair and Stephanie Paterson in memory of their son James. The overall figure also includes very much appreciated ongoing support from other Trusts including the Harris and Westcroft Trusts.
There was no Christmas dinner held in 2019. Personal commitments meant that the Trustee team did not have the time or energy to host a dinner this year. We shall definitely be hoping to hold dinners or other events in the future – if anyone would be interested in helping plan and host such an event please get in touch.
Megan Chappell continues to work hard to keep our Facebook page stays updated with our current activities. Facebook is proving an invaluable resource in maintaining contact with past and present students directly as well as bringing in new donors. If you have internet access (or know someone who has) please do visit and ‘like’ our Facebook page: www.facebook.com/BudiriroTrust
Tax reclaimed under the Gift Aid scheme continues to provide an important income stream, and this year we were able to claim back £3332 from eligible donations which provides the funds for more ‘A’ levels scholarships. If you are eligible and have not already done so please do complete a Gift Aid declaration. These can be downloaded from the website, and sent to the Treasurer. A slight increase in interest rates represents interest earned on savings was £71 this year.
We continue to use Currency UK (previously called FTT Global) for our foreign exchange transactions. They provide a fast, efficient dedicated service for Charities and we incur minimal charges compared to using the High Street Banks as well as often getting a more favourable exchange rate. Thanks also go to Edward Wright from Hockley Wright Accountants who has taken over the task of doing an Independent examination of the accounts from Jenny Pinard. He has also kindly offered his services free of charge this year.
The 2019 intake of students comprises 20 new Lower Sixth students which added to the existing 21 Upper Sixth students giving a total of 41 Students across the 6 schools.
As always I would like to take this opportunity to thank all of you for your ongoing support, without which we would not be able to continue this much needed work. Given the significant drop in costs with the changes in local currency we hope that as things stabilise we shall be able to take advantage of this to offer more scholarships moving forward. In normal years the Term 2 fees would be pending as the financial year ends, these fees were never sent in 2020 as the schools in Zimbabwe had to close due to the spread of the global COVID -19 pandemic. We hope this situation improves soon so that we can provide support for our students during these uncertain times.
Mrs Emily Chadburn
Treasurer