IZ ASSIST UK CIC

Company Registration Number:
14687128 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 24 February 2023

End date: 31 March 2024

IZ ASSIST UK CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

IZ ASSIST UK CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activity of the company in the period under review was that of an agency that creates and provides a digital platform that facilitates the verification, compliance, ratings and assisting of non-profit organisations in sub-Saharan Africa.



Directors

The directors shown below have held office during the whole of the period from
24 February 2023 to 31 March 2024

C A Coetzee
A W E Leenen
C K Lewer-Allen
D Lubner
G R Perils
J G Ritchie
J H Swanepoel


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 August 2024

And signed on behalf of the board by:
Name: J H Swanepoel
Status: Director

IZ ASSIST UK CIC

Profit And Loss Account

for the Period Ended 31 March 2024

13 months to 31 March 2024


£
Turnover: 0
Cost of sales: ( 163,037 )
Gross profit(or loss): (163,037)
Administrative expenses: ( 317,970 )
Other operating income: 4
Operating profit(or loss): (481,003)
Interest payable and similar charges: ( 27 )
Profit(or loss) before tax: (481,030)
Profit(or loss) for the financial year: (481,030)

IZ ASSIST UK CIC

Balance sheet

As at 31 March 2024

Notes 13 months to 31 March 2024


£
Creditors: amounts falling due within one year: 3 ( 480,930 )
Net current assets (liabilities): (480,930)
Total assets less current liabilities: (480,930)
Total net assets (liabilities): (480,930)
Capital and reserves
Called up share capital: 100
Profit and loss account: (481,030 )
Total Shareholders' funds: ( 480,930 )

The notes form part of these financial statements

IZ ASSIST UK CIC

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 August 2024
and signed on behalf of the board by:

Name: J H Swanepoel
Status: Director

The notes form part of these financial statements

IZ ASSIST UK CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Basis of preparing the financial statements These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Taxation Taxation for the period comprises current and deferred tax. Tax is recognised in the Income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Going concern disclosure The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

IZ ASSIST UK CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    13 months to 31 March 2024
    Average number of employees during the period 7

IZ ASSIST UK CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Creditors: amounts falling due within one year note

13 months to 31 March 2024
£
Trade creditors 840
Taxation and social security 2,309
Other creditors 477,781
Total 480,930

COMMUNITY INTEREST ANNUAL REPORT

IZ ASSIST UK CIC

Company Number: 14687128 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

iZinga Assist is a digital platform that facilitates the verification, compliance, rating and assisting of non-profit organisations in sub-Saharan Africa. The aim of the platform is to restore the trust and transparency between European donors and the non-profit sector. iZinga Assist is dedicated to supporting and empowering nonprofit organisations (NPOs), with the platform pilot currently active in South Africa. Over the past financial year, we've successfully launched and expanded our services to NPOs, including verification, rating and general assistance. Our work has directly benefited numerous communities across South Africa by ensuring NPOs are verified, rated, transparent, accountable, and equipped to deliver impactful services. By strengthening NPOs, we've contributed to addressing critical social and economic challenges, taking a massive proactive step towards combating corruption in the sector, and ultimately improving the quality of life for the most vulnerable populations. Key milestones achieved during the year include: Completion of Phase I of the pilot: We successfully onboarded NPOs and trained reviewers. Development of Phase II of the pilot: We're currently working on the development of the do-nor and donation journeys. Strategic partnership with a leading law firm: We've partnered with the esteemed MacRobert Attorneys to enhance and refine our review processes. (If applicable, please just state “A social audit report covering these points is attached”). Onboarding of 49 NPOs: We've successfully brought 49 NPOs onto our platform. Strategic partnership with a listed company: We've partnered with a listed company Shoprite Holdings Ltd to assist with fund disbursement, tracking, and reporting. Workshop with postgraduates: We conducted a workshop with postgraduate students at a Rhodes Business School’s post graduate NPO degree.

Consultation with stakeholders

Throughout the past financial year, iZinga Assist has maintained open and ongoing communication with a diverse range of stakeholders, including non-profit organisations, donors, industry specialists, foundations, corporate companies, tertiary education institutions, and community leaders. We've actively sought feedback on various topics through regular meetings, surveys, online forums, workshops and frequent calls. In response to the feedback received, iZinga Assist has taken several steps to continuously improve our services and better meet the needs of our stakeholders. These actions include: Tailoring our platform: We are continuously adapting, improving and fine tuning our platform and services to address the specific needs and challenges of different types of NPOs. Strengthening our partnerships: We've forged stronger partnerships with corporate, professional, and industry stakeholders to enhance our impact. Improving our communication channels: We've invested in improved communication tools and strategies to ensure our stakeholders are well-informed and engaged, as well as to create awareness and excited for the launch of the platform.

Directors' remuneration

The total value of Directors’ Remuneration is £108,680

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
3 September 2024

And signed on behalf of the board by:
Name: Jan Hendrik Swanepoel
Status: Director