Annual Financial Statements for the year ended 28 February 2021
The directors have pleasure in submitting their report on the annual financial statements of Sonke Gender Justice NPC for the year ended 28 February 2021.
1. Nature of business
The company’s objective is to create a world in which womxn, children, men, and gender-non-conforming individuals enjoy equitable, caring, healthy, and happy relationships that contribute to the development of gender- just and democratic societies, free from poverty. The company operates in South Africa.
There have been no material changes to the nature of the company’s business from the prior year.
2. Review of financial results and activities
The annual financial statements have been prepared in accordance with International Financial Reporting Standard for Small and Medium-sized Entities and the requirements of the Companies Act of South Africa. The accounting policies have been applied consistently compared to the prior year.
The Covid-19 pandemic has wrecked havoc throughout the world in across all industries. However, the company has managed to navigate its way through the 2021 financial year even with having received slightly less funding than the previous period. Notably certain costs were reduced where possible and measures to safeguard staff were put in place and these measures continue to be used to reduce any possible spreading/transmission of the virus. Currently South Africa is experiencing a ‘third wave’ of Covid-19 with very high daily infections noted and bringing the country into a higher alert level of lockdown yet again. The rollout of vaccines does give hope that there is reasonable possibility of returning to some form of normality in the last quarter of 2021. Notwithstanding the above, the directors are also cognisant of the fact that the organization has secured the necessary funding for the 2021/2022 financial year.
Full details of the financial position, results of operations and cash flows of the company are set out in these annual financial statements.
The directors in office at the date of this report are as follows:
- F H E Hikuam
- B G Khumalo (Appointed 18 September 2020)
- M S E Letsike (Appointed 22 February 2021)
- N Z Mdlekeza
- D Muchena
- T L Ndlovu (Appointed 15 February 2021)
- E Nyanhongo (Appointed 01 November 2020)
- K Van Heerden
- H Van Niekerk
- B C Meyersfeld (Resigned 22 January 2021)
- S Dass (Resigned 11 December 2020)
- N T Magau (Resigned 13 November 2020)
- M Nduna (Resigned 13 November 2020)
- K Ramjathan-Keogh (Resigned 20 January 2021)
4. Property, plant and equipment
There was no change in the nature of the property, plant and equipment of the company nor in the policy regarding the use thereof.
Details of movements in property, plant and equipment may be found in note 2 to the annual financial statements.
5. Events after the reporting period
The directors are not aware of any material event which occurred after the reporting date and up to the date of this report.
6. Going concern
The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the company is in a sound financial position and that it has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non- compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company.