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Zimbabwe Farmers Trust Fund A Company Limited by Guarantee
Report and Financial Statements
For the year ended 30 September 2025 Scottish Charity number: SC030567 Company number: SC288953
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Zimbabwe Farmers Trust Fund
Financial statements for the year ended 30 September 2025
Contents
Pages
| Legal and administrative information | 1 |
|---|---|
| Report of the Trustees | 2-3 |
| Independent Examiners Report | 4 |
| Statement of the financial activities | 5 |
| Balance Sheet | 6-7 |
| Notes to the financial statements | 8-10 |
| Detailedincomeandexpenditureaccount | a |
Zimbabwe Farmers Trust Fund
Legal and administrative information
Reference and administrative details
Status
The Zimbabwe Farmers Trust is a company limited by guarantee and a Scottish charity governed by its memorandum and articles of association. Scottish Charity SC030567. Company number: SC288953
Trustees
The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. As set out in the Articles of Association, the chairman of the trustees is nominated by the trustees, who are elected annually by the members of the charity attending the Annual General Meeting
Trustees
Dr John Groom (resigned 01082025) Susan Howman
David Sandeman
Russell Perkins
Tomas Herselman (appointed 01082025) Secretary Juliet Pentolfe
Accountants
C Lucas FCCA
Registered Office
272 Bath Street, Glasgow, Scotland, G2 4JR
Registered number
SC288953
Bank Details
Lloyds Salisbury Branch
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Zimbabwe Farmers Trust Fund
Report of the trustees for the year ended 30 September 2025
The trustees are pleased to present their report with the financial statements of the charity for the year ended 30 September 2025.
The reference and administrative information set out on page 1 form part of this report.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2005) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
Structure, Governance and Management
Governing Document
The charity is registered as a limited company and is governed by its Memorandum and Articles of Association.
Organisation
A board of trustees who meet regularly, administer the charity.
Risk Management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems are in operation to enable regular reports to be produced so that necessary steps can be taken to lessen these risks.
Objectives and Activities
The objectives of the charity are to make donations to be used for the benefit or in furtherance of such purposes or such institutions, foundation, bodies or trusts as the law regards as charitable.
There have been no changes in objectives since the last annual report.
Achievements and performance
The charity made donations totalling £2,906 during the year for charitable purposes as authorised by the Memorandum and Articles of Association.
Financial Review
The financial statements have been prepared in accordance with current statutory requirements and the charity's Memorandum and Articles of Association.
The charity has operated successfully during the year as reflected in the financial statements. Net incoming resources for the year were £15,243
Reserves Policy
The objectives are to distribute, after deducting management expense, the majority of the income generated and to maintain sufficient reserves to meet future demands on the fund. Revenue will be accumulated for disbursement in accordance with the trustees decisions and in order to support ongoing projects to which the charity has been committed.
The general fund represents the unrestricted fund available from past operating results. It also represents the free reserves of the charity. At present the free reserves of the charity amount to £154,096
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Zimbabwe Farmers Trust Fund
Report of the trustees for the year ended 30 September 2025
Investment policy
Under the Memorandum and Articles of Association, the charity has the power to make any investments which the trustees see fit.
The investment policy is to maximise income annually.
Plans for Future Periods
The charity plans to continue its current activities for the foreseeable future.
Trustees’ responsibilities in relation to the financial statements
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity for the financial year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently 2. make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements, and 4. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act. It is also their responsibility to safeguard the assets of the company and hence to take reasonable steps to prevent and detect fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued March 2005) and in accordance with the special provisions of the Companies Act 2006 relating to small entities.
Approved by the trustees on February 25th 2026 and signed on its’ behalf by:
—T
David Sandeman Trustee
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Zimbabwe Farmers Trust Fund
Independent examiners’ report to the trustees of Zimbabwe Farmers Trust Fund
We report on the accounts of Zimbabwe Farmers Trust Fund for the year ended 30 September 2025 which are set out on pages 5 - 11.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10 (1) (a) toc does not apply. It is my responsibility to examine the accounts as required under section 44 (1) c of the Act and to state whether particular matters have come to my attention.
Basis of Independent examiners’ report
Our examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the accounts.
Independent examiners’ statement
In the course of our examination, no matter has come to our attention:
- which gives reasonable cause to believe that, in any material respect, the requirements:
a. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and b. to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Caroline Lucas FCCA
Date: 25/02/2026
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Zimbabwe Farmers Trust Fund
Statement of financial activities for the year ended 30 September 2025
| Notes | 2025 | 2024 | ||
|---|---|---|---|---|
| Incoming resources | ||||
| Incoming resources from generated funds | ||||
| Voluntary income | 2 | 6,771 | 30 | |
| Investment income | 8,472 | 4,872 | ||
| Total incoming resources | 15,243 | 4,902 | ||
| Resources expended | ||||
| Cost of generating funds | ||||
| Charitable activities | 4 | 2,906 | 10,070 | |
| Governance costs | 5 | 891 | 828 | |
| Total resources expended | 3,797 | 10,898 | ||
| Net expenditure / income before transfers | 11,446 | -5,996 | ||
| revaluations and investment asset disposals | ||||
| Reconciliation of funds | ||||
| Total funds brought forward | 142,650 | 148,646 | ||
| Totalfundscarriedforward | 154,096 | 142,650 |
All of the results relate to continuing activities
The notes on pages 7 to 11 form part of these financial statements.
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Zimbabwe Farmers Trust Fund
Balance Sheet as at 30 September 2025
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Notes 2025 2024
£ £
Fixed Assets 8 0 0
Current Assets
Debtors 9 0
Cash at bank 10 190,698 177,435
190,698 177,435
Creditors: amounts falling due
within one year -36,602 -34,785
Net Current Assets 154,096 142,650
Total Assets less current liabilities 154,096 142,650
——————————— as
Funds ee ee
Unrestricted funds 154,096 142,650
————————————— ESES==———S
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Small company special provisions
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime described within Companies Act 2006 and with the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities (effective January 2005)
For the year ending September 30th 2025 the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to the accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Trustees on February 25th 2026 and signed on their behalf.
TMK wdowro—
David Sandeman - Director
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Zimbabwe Farmers Trust Fund
Mr. R Perkins - thractor
Thomas ee oa
iNor
Mrs Susan Howman- Director
The notes on pages 8 to 11 form part of these financial statements
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Zimbabwe Farmers Trust Fund
Notes to the financial statements for the year ended 30 September 2025
1. Accounting policies
The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year.
a. Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and are in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities (effective January 2005).
The charity is a company limited by guarantee. In the event of the charity being wound up, the liability of the guarantee is limited to £1 per member of the charity.
b. Incoming resources from generated funds
Incoming resources from generated funds represents net invoiced sales of goods and services, excluding value added tax.
c. Incoming resources
Legacies and donations
Legacies and donations are credited in the year in which they are received. Grant Income
Grant income is credited in the year in which it is received.
Interest receivable
Interest is credited in the year in which it is received.
d. Resources expended
Expenditure is recognised whena liability is incurred. Funding provided through contractual agreements and performance related grants are recognised when goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.
Costs of generating funds incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi- year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources e.g. allocating office property costs by floor areas, management and human resources by the number of staff, and finance and IT costs by work done.
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Zimbabwe Farmers Trust Fund
Notes to the financial statements for the year ended 30 September 2025
e. Fund structure
The principal accounting polices are set out below. The accounting policies have been adopted consistently throughout the year.
The funds held by the charity are either:
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unrestricted general Funds - these are Funds which can be _ used in accordance with the charitable objects at the discretion of the trustees.
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designated funds - these are funds earmarked by the trustees out of unrestricted general funds for specific future purposes or projects.
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restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
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Endowment funds - these are funds that represent assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included in unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advise relating to the fund are charged against the fund.
f. Tangible fixed assets and depreciation
Tangible fixed assets are included in the balance sheet at cost or at market value at the date of gift. Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principle rates in use are: Equipment, fixtures and fittings 10% straight line.
g. Vat
The charity is not registered for VAT and accordingly expenditure includes vat where appropriate.
2. Voluntary Income
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Unrestricted 2025 2024
Voluntary Income Received 6,771 30
Total 6,771 30
3. Support costs
2025 2024
Total Total
All costs relate to the one 891 —828
charitable activity
4. Details of costs of Charitable Activities
Activities Undertaken Support 2025 2024
Directly Costs Total Total
Donations to Farmers
Donations and related costs 2,906 891 3,797 10,898
Total Spend : Charitable Activities 3,797 10,898
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Zimbabwe Farmers Trust Fund
Notes to the financial statements for the year ended 30 September 2025
| 5. Governance costs | |||||
|---|---|---|---|---|---|
| Direct Costs | 2025 | 2024 | |||
| £ | £ | ||||
| Travelling expenses - Trustees | 0 | 0 | |||
| 6. Net Income resources | |||||
| This after charging: | |||||
| Depreciation | 0 | 0 | |||
| 7. Taxation | |||||
| The charity isexempt from corporation tax on | its charitable activities. | ||||
| 8. Tangible Fixed Assets | 2025 | 2024 | |||
| £ | £ | ||||
| Cost - Equipment, F&F | 0 | 0 | |||
| Depreciation provision for the year | 0 | 0 | |||
| Net book value at 30 September 2025 | 0 | 0 | |||
| 9. Debtors | 2025 | 2024 | |||
| £ | £ | ||||
| Other debtors | 0 | ||||
| 10. Cash at bank and in hand | 2025 | 2024 | |||
| £ | FE | ||||
| Deposit Accounts | 0 | ||||
| Alpha Common Investment Fund | 179,196 | 177,380 | |||
| Current Accounts | 11,502 | 55 | |||
| 190,698 | 177,435 | ||||
| 11. Unrestricted funds | Balance at | Incoming | Outgoing | Balance | at |
| October 1st 2024 | 30/09/2025 | ||||
| General fund | 142,650 | 15,243 | 3,797 | 154,096 | |
| 12. Analysis of Net Assets among funds | 2025 | 2024 | |||
| £ | £ | ||||
| Funds balances at 30 September 2025 are represented by: | |||||
| Tangible fixed assets | 0 | 0 | |||
| Current Assets | 190,698 | 177,435 | |||
| 190,698 | 177,435 | ||||
| 13. Analysis of Net Movement in Funds | |||||
| 2025 | 2024 | ||||
| Total net movement in funds | 11,446 | -5,996 | |||
| Net expenditure on fixed assets | 0 | 0 | |||
| 11,446 | -5,996 | ||||
| 14. Staff numbers and costs | |||||
| Thecharitydoesnotemployanystaff. |
None of the trustees received any remuneration during the year. The reimbursement of their expenses is disclosed in note 5. 10
Zimbabwe Farmers Trust Fund
Income and Expenditure Account for the year ending 30 September 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Income | 15,243 | 4,902 |
| Cost of Sales | ||
| Donations made | -2,906 | -10,070 |
| Gross Surplus | 12,337 | -5,168 |
| Deduct: Expenses | ||
| Direct Overheads | ||
| Travelling Expenses - Trustees | 0 | 0 |
| Indirect Overheads | ||
| Telephone | 0 | 0 |
| Printing, postage, stationery, advertising. IT | -19 | 0 |
| Sundry Expenses | -122 | -78 |
| Accountancy Fee | -750 | -750 |
| Depreciation on equipment | 0 | 0 |
| -891 | -828 | |
| Operatingsurplus | 11,446 | -5,996 |
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