REGISTERED CHARITY NUMBER: 1001691
Report of the Trustees and Financial Statements for the Year Ended 31 August 2020
for WOW (World of Worth)
Hamiltons Group Limited Chartered Certified Accountants Meriden House 6 Great Cornbow Halesowen West Midlands B63 3AB
WOW (World of Worth)
Contents of the Financial Statements for the Year Ended 31 August 2020
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|Report|of the Trustees|1|to|7|
|Independent|Examiner's|Report|8|
|Statement|of Financial|Activities|9|
|Statement|of Financial|Position|10|
|Notes|to|the|Financial|Statements|11|to|20|
|Detailed|Statement|of Financial|Activities|21|to|22|
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Summary of objects, aims and activities
The objects of the charity are by such means as are charitable, to share the Christian faith and to raise funds to relieve poverty and sickness in developing nations.
The charity is dependent on sponsors and general appeals through churches, the general public and sponsored events to raise funds for various projects. These funds are to support women's programmes, children's homes, education programmes and to train women in self-sustainability and provide micro-business opportunities. The charity works in India, Ethiopia, Uganda, Mozambique, Philippines and Bulgaria.
Social investments
The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charities Commission in connection with public benefit.
The trustees have considered the aims and objectives of the charity to ensure that they benefit the public by the charitable activities undertaken. All existing projects benefit children, widows, students and families living in poverty by providing education, food and medical care. When a new project is considered the trustees always refer to the governing trust deed of the charity to ensure the aims and objectives are being met. All projects are constantly reviewed to make sure that the funds are used to benefit those who live in poverty.
Grantmaking policies
The charity makes donations to institutions in other countries to carry out activities which meet its aims and objectives. The activities being supported are specified to the institution and the use of funds is monitored by a combination of visits and written reports.
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
ACHIEVEMENT AND PERFORMANCE
Charitable activities
WOW (World of Worth) works in India, Ethiopia, Uganda, Mozambique, Bulgaria and The Philippines. WOW is passionate about restoring dignity and worth to women and children who struggle with the effects of living in extreme poverty. WOW works in developing nations to give communities a hand up, not a hand out, enabling them to create a sustainable future. Our aim is to provide physical, emotional and spiritual support through our WOW Programmes, which focus on education and self-sustainable training and opportunities.
We work with people who have been marginalised by society and give them the opportunity to break the cycle of poverty for themselves and for the next generation. WOW is a Christian Charity founded on the values of faith, hope and love.
WOW's work in Africa
Ethiopia
The Women of Worth programme continues to support 60 vulnerable women who live in extreme poverty in Addis Ababa. Through the programme many of the women now have improved accommodation, their own businesses, or employment and have been taught business skills. One of the major successes is that the women are supporting each other, both financially from an emergency fund they all contribute to, and also in terms of friendship and encouragement. Another success has been the change in the mindset of the women, who now believe that they can change their lives. Seventy five children are also supported on an education programme and these children have continued to be provided with education, healthcare and training in life skills during the last year, and several have graduated university this year.
Uganda
The WOW programme supports 75 widows in Northern Uganda, and provides them with food and healthcare. WOW Uganda owns 20 acres of farmland and each year crops continue to be harvested, providing food for the women and an income to the project. Many of the widows have their own perma-gardens and are growing enough food to provide for them and their families. WOW has planted a forest of 3,200 trees, which when fully mature will bring an income of £40,000 into the project in Uganda, helping them to become self-sustainable. The plan is to plant 1,000 trees per year. WOW has also opened a maize mill which is grinding maize grown on the land. This is being sold to bring a profit to the project.
Mozambique
WOW supports 47 widows in three areas outside of Maxixe. The women have been trained in perma-gardening and many now have their own gardens which is providing an income for their families. The women are also starting micro-businesses with the help of a small loan from WOW. Land has been rented and is providing a good crop which helps to feed the women and their families.
WOW's work in India
WOW supports four children's homes in Southern India. The children are receiving a good standard of education and/or vocational training. Training in life skills is also undertaken with the children, and the homes are fully compliant with government regulations. Every year WOW pays for the children to have a weekend away in the countryside, where they have games and fun.
The Esther Project supports young women through university, and helps transition girls from the children's home, through higher education and into employment. WOW helps to pay for the rent on two apartments and house parents have been employed. The girls receive counselling and life skills training in a family environment.
In Bihar, 77 children are supported on an education programme. Due to the improved education of the children and the reputation of the school, the government have invested in the village by providing a road infrastructure and electricity. Our project leader also works with the families to educate about bonded labour, trafficking and the importance of their children receiving an education.
Wow also supports widows with food parcels and self-sustainable business opportunities in South India.
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
WOW 's work in Philippines
In Manila, the Durian Project supports 39 children with education and food. The local Pastor is working closely with the families, to educate the parents about the importance of schooling, hygiene and childcare. Many of the children are achieving high marks at school.
WOW's work in Bulgaria
WOW supports a project in Bulgaria which works in the Roma Communities and orphanages to help children living in extreme poverty. WOW also supports a programme which seeks to educate girls in the danger of human trafficking in order to prevent trafficking of girls from poor communities.
Specific achievements during this year
-
Food parcels provided for families across all our projects every month during the Covid-19 crisis.
-
Rent paid to provide secure housing for the widows in Ethiopia during the Covid-19 crisis.
-
The maize mill in Uganda is now operating and bringing an income to the project.
-
A further 1,250 trees planted in Uganda to create self-sustainability for the project.
-
One of the women in Uganda has built herself a house with the profits from her perma-garden, - Micro-businesses funded for 30 of the women in Mozambique, and perma-gardens established bringing an income to the women. - Projects in Bulgaria visited and training given in anti-trafficking.
-
Starting a partnership with a foundation in Bulgaria to train young girls after they leave the state orphanages, with the goal of preventing human trafficking.
-
The young women in our Esther Project in India graduating from and further girls joining the programme. - Continuing to maintain and support 11 projects over 6 countries and meet the budgets of these projects
Fundraising activities
Usually the trustees travel throughout the UK to promote the work of WOW in churches and at conferences. Unfortunately due to Covid-19, all visits to churches and fundraising events were cancelled. However, there has been a positive response to our Covid-19 Appeal, which raised funds to support the families on our projects, during the Coronavirus crisis. Most income is currently received from individual sponsorship and donations.
FINANCIAL REVIEW
Financial position
This year the income increased slightly, thanks to two large donations and the Covid-19 Appeal. The charity is in a far better financial position this year, with the reserve fund intact and surplus unrestricted funds. The trustees continue to monitor the overseas project budgets carefully to ensure that good stewardship of donations continues.
Principal! funding sources
The income of the charity continues to be derived of donations and sponsorships from individuals and churches. Occasional grants are received from trusts. Regular fundraising events continue to be held throughout the year (currently postponed due to the Covid-19 situation).
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
FINANCIAL REVIEW
Plans for future periods
-
To train more women in self-sustainability through perma-garden training and micro-businesses,
-
To help more girls to move into higher education through our Esther project. - To work more closely with our children's homes in India, to educate girls against child marriage, trafficking, exploitation, and to ensure they are given adequate life skills training. - To start and implement the course, for the Esther Project and the women's projects, training in life skills, financial awareness and other subjects.
-
To continue essential anti-human trafficking training in Bulgaria.
-
To help our overseas projects move from dependency on us to self-sustainability where possible.
-
To continue to focus on the good stewarding of donations and monitor the financial position of the charity to ensure that the management fund and reserve fund are in a healthy position.
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
FINANCIAL REVIEW
Reserves policy
The trustees have reviewed this policy in August 2020 and updated it accordingly.
The reserve funds of the charity are in two parts, from its unrestricted income and from its restricted income.
This policy is to be read in conjunction with the financial risk management policy and the financial controls policy, and is monitored monthly through the management accounts.
The reserve fund is used to manage times of financial uncertainty and to fund emergencies.
The trustees of WOW want to ensure that the finances of the charity are actively managed and that the charity's activities are sustainable. In accordance with the other policies of WOW, the trustees will monitor cash flow, and profit and loss, on a monthly basis. Where these management accounts show that the reserve fund is likely to be used within a period of three months, the trustees will call an emergency meeting.
Level of reserves for unrestricted funds
In agreeing the level of reserves, the trustees considered their financial obligations and a figure of £21,300 has been set. This has been calculated by taking into account the forecasts for levels of income and expenditure for the current year, and by taking into account the reliability of each source of income and the prospects for developing new income sources.
The trustees have also analysed future needs, commitments and risks.
The amount is calculated as follows: £17,500 Redundancy costs.
£3,400 Lease costs £400 Office rent
£21,300 TOTAL
Level of reserves for project funds
The trustees also agreed that it would be prudent to have a reserve amount in order to meet beneficiary project emergencies. This has been set at £7,000.
Strategy for saving / maintaining this amount
At the time of reviewing the policy in August 2020, the charity had the reserves intact of £28,300, as detailed above, with £9,098 surplus unrestricted funds. The trustees monitor the finances every month, to ensure that the level of the reserves remains intact.
The restricted funds are never used to meet the charity's management commitments. If any of the reserves are used, immediate steps are taken to re-address the problems leading to the use of the reserve funds, and the funds replaced as soon as the financial position improves. Monitoring the policy The amount of reserves are to be taken into account on a monthly basis when the management accounts are analysed, and if they appear to be inadequate, a meeting will be held to discuss this. Otherwise, the policy will be reviewed and updated annually in August, and a list of assets will be held and continuously updated.
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
A relationship is built with the potential trustee before a curriculum vitae and written reference is obtained. An interview is carried out with the charity's trustees to assess the skills and abilities of the prospective trustees. The board of trustees will then make the decision of who to appoint.
The charity adheres to the Charity Commissions Trustee Recruitment, Selection and Induction Regulatory Study.
Organisational structure
WOW (World of Worth) has a policy of organisational structure in place and a delegation policy. These set out the areas of responsibility and accountability for the principal officers and staff. The trustees are responsible for the charity, but the day to day running of the charity has been placed in the hands of the principal officers. The principal officers are answerable to the trustees in all matters and must submit monthly reports to the trustees and monthly financial reports. Trustees meetings are held every four months and a unanimous decision must be reached on any vote before the decision is implemented. The staff are answerable to the principal officers on day to day working matters but can refer to the trustees in the event of a problem.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1001691
Principal address Unit 16 Dainton Manor Business Park Dainton Ipplepen
TQ12 5TZ
Trustees T Brown S Thomas C Young N S Williams
Independent Examiner Hamiltons Group Limited Chartered Certified Accountants Meriden House 6 Great Cornbow Halesowen West Midlands B63 3AB
Bankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ
Chairman S Thomas
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WOW (World of Worth)
Report of the Trustees for the Year Ended 31 August 2020
REFERENCE AND ADMINISTRATIVE DETAILS Principal officers Mr A David Mrs R V David Approved by order ofthe boardoftrustees on 12 Mayy and signed on its behalfby: S Thomas - Trustee ¢ |
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Independent Examiner's Report to the Trustees of WOW (World of Worth)
Independent examiner's report to the trustees of WOW (World of Worth)
I report to the charity trustees on my examination of the accounts of WOW (World of Worth) (the Trust) for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member ofa listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of The Association of Chartered Certified Accountants which is one of the listed bodies.
I have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
ls accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2: the accounts do not accord with those records; or
-
3i the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Susan Bowdler FCCA
The Association of Chartered Certified Accountants Hamiltons Group Limited Chartered Certified Accountants Meriden House 6 Great Cornbow Halesowen West Midlands B63 3AB
12 May 2021
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WOW (World of Worth)
Statement of Financial Activities for the Year Ended 31 August 2020
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|---|---|---|---|---|---|---|---|
|2020|2019|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS|FROM|
|Donations and|legacies|195,012|71,343|266,355|249,378|
|Charitable|activities|
|Government|Grant|-|JRS|6,624|-|6,624|*|
|Investment|income|2|61|-|61|15|
|Total|201,697|71,343|273,040|249,393|
|EXPENDITURE|ON|
|Raising|funds|-|-|-|-|
|Charitable|activities|3|
|General|overseas|projects|164,432|75,407|239,839|273,058|
|Total|164,432|75,407|239,839|273,058|
|NET INCOME/(EXPENDITURE)|37,265|(4,064)|33,201|(23,665)|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought forward|133|24,582|24,715|48,380|
|TOTAL|FUNDS CARRIED FORWARD|37,398|20,518|57,916|24,715|
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The notes on pages 11 to 20 form part of these financial statements
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WOW (World of Worth)
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|---|---|---|---|---|---|---|---|---|---|
|Statement|of Financial|Position|
|31|August|2020|
|2020|2019|
|Unrestricted|Restricted|Total|Total|
|£|£|£|£|
|Notes|funds|funds|funds|funds|
|FIXED|ASSETS|
|Tangible|assets|8|1,036|-|1,036|1,555|
|CURRENT|ASSETS|
|Debtors|9|10,052|-|10,052|6,857|
|Cash|at|bank|and|in|hand|27,956|20,518|48,474|22,352|
|38,008|20,518|58,526|29,209|
|CREDITORS|
|Amounts|falling due within one|year|10|(1,646)|-|(1,646)|(6,049)|
|NET CURRENT ASSETS|36,362|20,518|56,880|23,160|
|TOTAL ASSETS|LESS CURRENT|LIABILITIES|37,398|20,518|57,916|24,715|
|NET ASSETS|37,398|20,518|57,916|24,715|
|FUNDS|11|
|Unrestricted|funds|37,398|133|
|Restricted|funds|20,518|24,582|
|TOTAL FUNDS|57,916|24,715|
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The financial statements were approved by the Board of Trustees and authorised for issue on 12 May 2021 and were signed on its behalf by:
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S Thomas - Trustee Dak£
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The notes on pages 11 to 20 form part of these financial statements
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WOW (World of Worth)
Notes to the Financial Statements for the Year Ended 31 August 2020
- ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £,
Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’:
- — the requirements of Section 7 Statement of Cash Flows. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably, Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The Charity adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Charity. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Statement of Financial Activities during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Fixtures and fittings - 33.33% oncost The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
3:
ACCOUNTING POLICIES- continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds 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 restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
4.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
INVESTMENT INCOME
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|---|---|---|---|---|---|---|
|2020|2019|
|£|£|
|Bank|interest|receivable|27|15|
|Foreign currency|gains|__34|_|
|—6l|15|
|CHARITABLE ACTIVITIES COSTS|Grant|Support|
|Direct|funding of|costs|(see|
|Costs|activities|note 4)|Totals|
|£|£|£|£|
|General|overseas|projects|26,157|151,882|61,800|239,839|
|SUPPORT COSTS|Governance|
|Management|costs|Totals|
|£|£|£|
|General|overseas projects|55,088|6,712|61,800|
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WOW (World of Worth)
-
TRUSTEES' REMUNERATION AND BENEFITS
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
SUPPORT COSTS- continued
Governance costs includes £1,200 Independent examiners fee.
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
During the year general expenses totalling £241 (2019 : £207) were reimbursed to two trustees (2019 : one trustee).
STAFF COSTS
The average monthly number of employees during the year was as follows:
7,
| 2020 | 2019 | ||
|---|---|---|---|
| Principal officers and support staff | 3 | fu | |
| Noemployees received emoluments in excess of£60,000. | |||
| 2020 | 2019 | ||
| £ | s | ||
| Wages& salaries National insurance |
50,432 659 |
56,250 1,049 |
|
| Pension | 1,313 | 1,210 | |
| 52,404 | 58,509 | ||
| COMPARATIVESFOR THE STATEMENTOFFINANCIALACTIVITIES | ACTIVITIES Unrestricted |
Restricted | Total |
| funds | funds | funds | |
| £ | £ | 3 | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations andlegacies | 157,811 | 91,567 | 249,378 |
| Investmentincome | 15 | - | 15 |
| Total | 157,826 | 91,567 | 249,393 |
| EXPENDITUREON | |||
| Raising funds | - | - | - |
| Charitable activities | |||
| Generaloverseas projects | 160,152 | 112,906 | 273,058 |
| Total | 160,152 | 112,906 | 273,058 |
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| Te | COMPARATIVES FORTHE STATEMENT OF FINANCIALACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIALACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIALACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted funds |
Restricted funds |
Total funds |
||
| _£ | £ | £ | ||
| NET INCOME/(EXPENDITURE) | (2,326) | (21,339) | (23,665) | |
| RECONCILIATION OFFUNDS | ||||
| Total funds brought forward | 2,459 | 45,921 | 48,380 | |
| TOTAL FUNDSCARRIEDFORWARD | 133 | 24,582 | 24,715 | |
| 8. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | ||||
| fittings | ||||
| £ | ||||
| COST | ||||
| At 1 September2019 and 31 August 2020 | 13,212 | |||
| DEPRECIATION | ||||
| At 1 September2019 | 11,657 | |||
| Charge foryear | 519 | |||
| At31 August2020 | 12,176 | |||
| NET BOOK VALUE | ||||
| At31 August2020 | 1,036 | |||
| At31 August2019 | 1,555 | |||
| 9, | DEBTORS: AMOUNTSFALLING DUEWITHIN ONE YEAR | |||
| 2020 | 2019 | |||
| £ | E | |||
| Trade debtors | 6,318 | 2,366 | ||
| Other debtors | 359 | . | ||
| Prepayments | 3,575 | 4,491 | ||
| 10,052 | 6,857 |
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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||||||||
|---|---|---|---|---|---|---|
|2020|2019|
|£|£|
|Trade|creditors|225|380|
|Taxation|and|social|security|-|574|
|Other|creditors|1,421|5,095|
|1,646|6,049|
|11.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.9.19|in|funds|31.8.20|
|£|by|£|
|Unrestricted|funds|
|General|fund|133|37,265|37,398|
|Restricted|funds|
|Durian|Project|7,549|(2,626)|4,923|
|WOW|Ball|1,493|(1,493)|-|
|WOW Uganda|1,552|(1,332)|220|
|Special|Gifts|and Grants|7,546|(999)|6,547|
|Kids Camp|.|100|100|
|Foreign|Trips|for|Volunteers|649|(649)|-|
|Christmas|Gift Appeal|30|(18)|12|
|Emergency|Appeals|-|2,373|2,373|
|Open|Hands|1|-|1|
|Intermission|118|(98)|20|
|Ten|Forty|Ministries|20|(20)|.|
|EGCDWO|Kebena Children|18|1,442|1,460|
|Bulgaria|924|(924)|.|
|Bethel|Fellowship Trust (WOW|India)|§|(5)|-|
|Tool|Kits|Appeal|458|251|709|
|Mosquito|Nets|Appeal|32|.|32|
|Elizabeth's|House Appeal|979|(979)|-|
|Ebi|Appeal|3,208|-|3,208|
|Birthday|Gifts|-|10|10|
|Ugandan|Pastors|Appeal|-|TIS|775|
|Ugandan|Trees|Appeal|-|128|128|
|24,582|(4,064)|20,518|
|TOTAL FUNDS|24,715|33,201|57,916|
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
11. MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|201,697|(164,432)|37,265|
|Restricted|funds|
|Mozambique|4,030|(4,030)|-|
|Durian|Project|10,806|(13,432)|(2,626)|
|WOW|Ball|10,267|(11,760)|(1,493)|
|WOW Uganda|820|(2,152)|(1,332)|
|Special|Gifts|and Grants|9,395|(10,394)|(999)|
|Kids Camp|100|-|100|
|Foreign Trips|for Volunteers|1,812|(2,461)|(649)|
|Christmas|Gift Appeal|4,990|(5,008)|(18)|
|Emergency Appeals|19,626|(17,253)|2,373|
|Open|Hands|404|(404)|-|
|Intermission|740|(838)|(98)|
|Ten|Forty|Ministries|.|(20)|(20)|
|EGCDWO Kebena|Children|3,012|(1,570)|1,442|
|Bulgaria|1,875|(2,799)|(924)|
|Bethel|Fellowship|Trust (WOW India)|144|(149)|(5)|
|Tool|Kits Appeal|499|(248)|251|
|Elizabeth's House Appeal|”|(979)|(979)|
|Flights|for Foreign Trips|98|(98)|-|
|Birthday|Gifts|115|(105)|10|
|International Women's Day|Appeal|916|(916)|-|
|Ugandan|Pastors Appeal|TUS|-|713|
|Ugandan Trees Appeal|919|(791)|128|
|71,343|(75,407)|(4,064)|
|TOTAL FUNDS|273,040|(239,839)|33,201|
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
I. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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||||||||
|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.9.18|in|funds|31.8.19|
|£|£|£|
|Unrestricted|funds|
|General|fund|2,459|(2,326)|133|
|Restricted|funds|
|Mozambique|2,378|(2,378)|-|
|Bethel|Fellowship|Trust|225|(225)|-|
|Old Fund|(Sefton|Village)|755|(755)|-|
|Durian|Project|7,859|(310)|7,549|
|WOW|Ball|8,639|(7,146)|1,493|
|WOW Uganda|44|1,508|1,552|
|Special|Gifts|and|Grants|19,495|(11,949)|7,546|
|Kids Camp|65|(65)|-|
|Foreign Trips|for Volunteers|400|249|649|
|Christmas|Gift Appeal|72|(42)|30|
|Emergency|Appeals|4,307|(4,307)|-|
|Open Hands|803|(802)|1|
|Intermission|223|(105)|118|
|Ten|Forty|Ministries|20|.|20|
|EGCDWO|Kebena|Children|105|(87)|18|
|Bulgaria|300|624|924|
|Bethel|Fellowship|Trust (WOW|India)|231|(226)|5|
|Tool|Kits Appeal|-|458|458|
|Mosquito|Nets Appeal|-|32|32|
|Elizabeth's|House Appeal|-|979|979|
|Ebi Appeal|-|3,208|3,208|
|45,921|(21,339)|24,582|
|TOTAL FUNDS|48,380|(23,665)|24,715|
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Page 17
WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
11. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|157,826|(160,152)|(2,326)|
|Restricted|funds|
|Mozambique|4,456|(6,834)|(2,378)|
|Bethel|Fellowship|Trust|3,692|(3,917)|(225)|
|Old|Fund (Sefton|Village)|-|(755)|(755)|
|Durian|Project|16,485|(16,795)|(310)|
|WOW|Ball|3,116|(10,262)|(7,146)|
|WOW Uganda|3,152|(1,644)|1,508|
|Special|Gifts and Grants|12,574|(24,523)|(11,949)|
|Kids Camp|923|(988)|(65)|
|Foreign|Trips|for Volunteers|1,900|(1,651)|249|
|Christmas|Gift Appeal|2,884|(2,926)|(42)|
|Emergency|Appeals|-|(4,307)|(4,307)|
|Open|Hands|10,224|(11,026)|(802)|
|Intermission|5,819|(5,924)|(105)|
|WOW Ethiopia|730|(730)|-|
|EGCDWO Kebena|Children|4,497|(4,584)|(87)|
|Bulgaria|11,015|(10,391)|624|
|WOW Wellbeing|/ Other Fundraisers|1,549|(1,549)|-|
|Bethe!|Fellowship Trust (WOW|India)|2,859|(3,085)|(226)|
|Tool|Kits Appeal|1,044|(586)|458|
|Mosquito Nets Appeal|32|-|32|
|Elizabeth's|House|Appeal|979|-|979|
|Ebi Appeal|3,208|-|3,208|
|Flights|for Foreign|Trips|429|(429)|-|
|91,567|(112,906)|(21,339)|
|TOTAL FUNDS|249,393|(273,058)|(23,665)|
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General fund
The general fund is held to cover future expenditure, including core support costs, in pursuit of the Charity's objective.
Mozambique
This fund supports an orphanage in Mozambique, and also supports pastors and helps them to establish new churches. The fund also supports an agricultural and clean water self-sustainability programme.
Bethel Fellowship Trust
This fund supports pastors in India.
In future this income will be shown under Leadership Training.
Old Fund (Sefton Village) This is a project in Santiago, Philippines. There is a children's home, pre-school and school. The money provides the children with education, food and medical care.
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
11. MOVEMENT IN FUNDS- continued
Durian Project
This fund supports children who live in cemeteries in Manila, Philippines. The money helps provide education and food.
WOW Ball
This is the charity's largest annual fundraising event.
The money raised supports the WOW programmes.
WOW Uganda This is the WOW programme in Uganda. It is accounted for separately from the other WOW programmes as there has been a lot of capital expenditure on land and the aim of this project is self-sustainability.
Special Gifts and grants
This fund covers money given for very specific reasons and a separate detailed spreadsheet is kept noting the reasons for the donation. This covers donations such as birthday gifts for a specific child, a medical bill for a specific child or widow, gifts given for sarees etc.
Kids Camp
Each year WOW helps one of its overseas beneficiaries to hold a kids camp for all the children in their children's homes in India. It is a holiday for the children, where they come together to play games, learn new activities and have fun.
Foreign Trips for Volunteers
This fund is for our visits to the projects supported by WOW. At least every 18 months the trustees are required to visit the projects to undertake future planning and also put together reports detailing the current position of the project/health of the beneficiaries and check accounts etc. This also includes taking teams to visit and work with the projects.
Christmas Gift Appeal
Every year WOW appeals for funds to buy every widow, child and student a Christmas present.
Emergency Appeals
This is our disaster relief fund and covers income and expenditure for emergency situations which affect our projects such as typhoons, earthquakes etc.
Indian Evangelical & Relief (Open Hands)
An organisation based in KFG, India. WOW supports two children's homes and a widows' project.
Intermission
A German charity working in Bihar, India. WOW supports 77 children on an education programme.
WOW Ethiopia
Supports 60 women with healthcare, food, rent and business enterprises in Addis Ababa.
Ten Forty Ministries
This fund supports church leader training in Ethiopia.
EGCDWO Kebena Children
This fund supports 75 children on an education programme in Addis Ababa.
Bulgaria
This fund supports a charity in Bulgaria, providing anti-trafficking education, and working with orphans and the elderly,
WOW Wellbeing/Other fundraisers
Fundraising for wellbeing days.
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WOW (World of Worth)
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
11. MOVEMENT IN FUNDS- continued
Bethel Fellowship Trust (WOW India)
This fund supports 400 widows in healthcare, nutrition and emotional support.
Tool Kits Appeal
Specific fundraiser to raise money for tool kits for women in Africa.
Mosquito Nets Appeal
To raise money for mosquito nets in Africa.
Elizabeth's House Appeal
Raising funds to renovate a widow's home in India.
Ebi Appeal
To raise funds for an orphan in India who was involved in an accident and lost her leg.
Flights for Foreign trips
To cover flights of people travelling to WOW projects.
Birthday Gifts
To provide individual birthday gifts for sponsored children.
International Women's Day Appeal
Funds raised to support International Womens Day.
Ugandan Pastors Appeal
To raise money to provide seminars for pastors in Uganda.
Ugandan Trees Appeal
Money raised to plant trees in Uganda to create self sustainability from the harvested wood.
- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 20
WOW (World of Worth)
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 August 2020 | ||
| 2020 | 2019 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 241,516 | 225,109 |
| Gift aid | 24,839 | 24,269 |
| 266,355 | 249,378 | |
| Investment income | ||
| Bank interest receivable | 27 | 15 |
| Foreign currencygains | 34 | - |
| 61 | 15 | |
| Charitable activities | ||
| Grants | 6,624 | - |
| Total incoming resources | 273,040 | 249,393 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages and salaries | 6,326 | 10,624 |
| Conferences Direct projectexpenses |
569 19,262 |
120 20,867 |
| Grant funding activities | 151,882 | 181,148 |
| 178,039 | 212,759 | |
| Support costs | ||
| Management | ||
| Staffcosts | 39,767 | 42,310 |
| Insurance | 627 | 623 |
| Lightand heat Communication and information technology |
413 1,161 |
- 745 |
| Otherofficeexpenses Advertising Sundry expenses Rentandrates |
5,861 40 243 3,128 |
5,509 705 89 200 |
| Repairs andmaintenance Motorandtravelling costs Bank charges Bank Interest |
33] L517, 1,468 14 |
169 3,228 762 10 |
| Depreciation andimpairment | 518 | 1,246 |
| 55,088 | $5,596 |
This page does not form part of the statutory financial statements
Page 21
WOW (World of Worth)
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| 2020 | 2019 | |
|---|---|---|
| £ | dE | |
| Management | ||
| Governance costs | ||
| Trustees' expenses | 391 | 307 |
| Professional and legal fees | 5,121 | 2,956 |
| Independentexamination | 1,200 | 1,440 |
| 6,712 | 4,703 | |
| Total resourcesexpended | 239,839 | 273,058 |
| Netincome/(expenditure) | 33,201 | (23,665) |
This page does not form part of the statutory financial statements
Page 22