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 2￿11. 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¥&ni￿tY)n is na￿d.
It is my re3[￿81￿mIlfy lo:
exami￿ the ￿￿niS {ffiJer ￿l￿)n 14S ol tho W11 knti
. to fdkny th8 pTct8￿reS la*J d￿•M in ts G￿0￿1 g￿n by th8
Ctrolity CcffinMs6icffl (UrKlers￿ 14q5Xb) of tho 3)11 Act)" aTh
Bas1* of Indeponderf Ex•mlMrfI Rewt
My exarnlnauon was a￿or￿M 7hith ts Gwwdl Dir￿11￿￿ givB bythe Ch
Comrnisswjn. An examination I￿vdeS 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 consh*ration ol
any unusual items ¢x (fi8Ctosures in the a￿x￿5. ￿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 f0*Y￿..
11) Donations and L￿J￿Xe3 are as per ￿ a￿AIntI￿ T￿[18 aNI tqnk 8tatements ofthe Trust.
No independent Ver[￿￿on h8S (*[￿1 (KJI.
12) Grdnts payab￿ are as the r￿d5 ￿ IAnk statements TrusL
No Indwndent verrfKatKJn h3s been cxri8d ¢xrt.
{3) Grft ahy c￿lmS are as per the aC¥￿￿ntIr￿ aThJ Stat￿￿￿ ofthg TrL
No kndeyeTrJent ver11ka￿n ha5 been Ca￿led r
Based on the acc*yJndrvJ records and ba￿ statements. no fflalter has cC￿e to my all￿￿on.
(11 glws mg r8asonatrAa cwsa to ￿lOve that in any maiarlal rw Iha WLwemants:
{a} to k88p aG￿L￿)INj I￿) ofthè 2011 ACL. aNI
(bl lo prepw &xx)unts wlM¢h ￿yd wth ￿ ￿XIn11￿j 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

knthbYw*xted 315t MarGh 2021
TOTAL
*4¢0P4E
tknabty15 th4ved vkn CAFarbY ord*%*
15,765
18.708
i.fso
mEd stthd4r51Mp 8nd ITWI￿9
$￿sC￿shI} E M Haff Mara
Irwfftefrryn Chrislrn&s dlnner
Tot￿ c(Kpurate d(XHt￿ts
COrp￿te￿or￿lI￿S
Tax reC4alr￿ on gm ad
15,765
aTr,i1
4tc
£31,54Y
Grants pad
i&SM
El4376
£B336
SURPLUS IDEwcifJAFTER GR￿1￿￿
OTHER INCCWE
B8[& ffjtere5t (net Ollax)
É*¢*
21
Tl
£18
OVERHEADS
1024
FBAd￿d￿lstr&l0rR8￿1jnE
H*e of rr*
Lunch AGM
Fu￿j r81skng eXp￿S
Costs ofcthristsmas ditx*r
144
278
210
Ttavel
Iteratu￿.
￿1￿1#r￿ exwses
Bank tharge5 and transfwfe8S
NET SURPLUSI IDEFIC
1.150
9,403
D￿R[laRS[eC8iw8UTr)n ald
t14705
£4114
Ap8yM&ntof£2￿A), s*Jl lo fv FB 2021 erxlso

BUDIRIRO TRUST UK
B￿ANCE 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￿ F￿d&
SurrAus I Idefidtl b￿￿Nr￿￿3rd
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