ZAMBIA ORPHANS AID UK

Company limited by guarantee

Company Registration Number:
07863487 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

ZAMBIA ORPHANS AID UK

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ZAMBIA ORPHANS AID UK

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

Zambia Orphans Aid UK’s (ZOA-UK) objectives, contained in our memorandum of association, are to: to relieve poverty, sickness and distress among orphans and vulnerable young people in Zambia; to advance the education of orphans and vulnerable people in Zambia. Our purpose, is to give orphans, vulnerable children and young people in Zambia the tools to change their future. Our mission, is to break the cycle of poverty for orphans, vulnerable children and young people by empowering communities, improving access to a quality education and providing social and economic support. Our vision, is a Zambia in which all orphans, vulnerable children and young people can achieve their potential.

Company policy on disabled employees

ZOA-UK is currently overseen by eight Trustees who convene quarterly to guide the strategic direction and establish policies and procedures. The Trustees come from diverse professional backgrounds, which enable ZOA-UK to meet its set objectives. Currently seven are of Zambian heritage and the gender split is 50% female/male.



Directors

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

Garnet Mulomo
Shimwaayi Muntemba
Rachel Quine
Peter Brooke
Venansio Kabwe
Mwelwa Mukwashi
Florence Bili


The director shown below has held office during the period of
1 April 2023 to 5 February 2024

Freedom Mphande


The director shown below has held office during the period of
1 April 2023 to 2 August 2023

Jim Potter


The director shown below has held office during the period of
5 March 2024 to 31 March 2024

Thandi Mbulo


Secretary Thandi Mbulo

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
27 September 2024

And signed on behalf of the board by:
Name: Garnet Mulomo
Status: Director

ZAMBIA ORPHANS AID UK

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 449,664 197,214
Cost of sales: ( 245,053 ) ( 259,841 )
Gross profit(or loss): 204,611 (62,627)
Operating profit(or loss): 204,611 (62,627)
Interest receivable and similar income: 4,733
Profit(or loss) before tax: 209,344 (62,627)
Profit(or loss) for the financial year: 209,344 (62,627)

ZAMBIA ORPHANS AID UK

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 4,746 5,309
Cash at bank and in hand: 122,140 63,930
Investments: 4 154,733
Total current assets: 281,619 69,239
Creditors: amounts falling due within one year: 5 ( 4,584 ) ( 1,548 )
Net current assets (liabilities): 277,035 67,691
Total assets less current liabilities: 277,035 67,691
Total net assets (liabilities): 277,035 67,691
Members' funds
Profit and loss account: 277,035 67,691
Total members' funds: 277,035 67,691

The notes form part of these financial statements

ZAMBIA ORPHANS AID UK

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 27 September 2024
and signed on behalf of the board by:

Name: Thandi Mbulo
Status: Director

The notes form part of these financial statements

ZAMBIA ORPHANS AID UK

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

    Accounting Policies Investment Policy Reserves Policy Governing Policy Recruitment and Appointment of Trustees Risk Management

ZAMBIA ORPHANS AID UK

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

ZAMBIA ORPHANS AID UK

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Trade debtors 4,746 5,309
Total 4,746 5,309

ZAMBIA ORPHANS AID UK

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Current assets investments note

ZOA-UK, for the first time, had to consider a prudent approach to excess reserves as a result of a one-off legacy that was received during the financial year and restricted to multi-year activities. The Trustees considered available options, considering both short and long-term plans, and decided to invest some of the reserves into secure long term fixed deposits that suit the current charity requirements. ZOA-UK allocated £150k between two accounts. The first is a high-interest account at 4.95%, with the funds being available within a day’s note. The second is an 18 months fixed-term deposit at 5.7%, payable at the end of the term. A review of the investment approach is scheduled for this year, along with the formalisation of the investment policy.

ZAMBIA ORPHANS AID UK

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 4,584 1,548
Total 4,584 1,548