**Charity registration number 1030929 (England and Wales)**
## **TASK BRASIL TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **TASK BRASIL TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
L Da Silva Mr R Fine Mr J Rorrison Dr M Periera dos Santos
**Charity number (England and Wales)** 1030929 **Principal address** 185 The Hawkins Tower Ocean Way Southampton Hampshire UK SO14 3LH **Independent examiner** Hazel Day Xeinadin London Limited 46/48 East Street Epsom Surrey United Kingdom KT17 1HQ
## **TASK BRASIL TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 14|
## **TASK BRASIL TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
The relief of poverty and the advancement of education for children and young people in Brazil.
## Charitable Purposes:
• Relief of poverty: Providing food security, emergency assistance, and family guidance to vulnerable children, adolescents and families in Santa Teresa and surrounding communities, Rio de Janeiro.
• Advancement of education: Delivering socio-educational services, literacy support, digital inclusion, and preparation for employment for children and young people aged 6 – 17. All services are provided free of charge. Activities align with Brazilian social assistance framework Resolutions: Coexistence and Strengthening of Bonds Service (SCFV) under Basic Social Protection, and emergency benefits under state of emergency.
The Academy Project operates continuously since 2011 at Casa Jimmy, Santa Teresa for children and adolescents aged 6–17 and their families, from Santa Teresa, Catumbi, Centro, Lapa, Estácio and nearby communities including Morro da Coroa, Fallet, Prazeres, Fogueteiro, Mineira, and Biquinha. Operating from Monday to Saturday. Weekdays 12:00–18:00, Saturdays 10:00–16:00. Up to 31 hours per week per user.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
## **TASK BRASIL TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Achievements and performance**
Services provided in 2024:
- Daily socio-educational workshops: literacy, numeracy, IT, English, sports, swimming, arts, income-generation activities;
• Nutritional support: supplementary meal on arrival, afternoon snack, and soup before departure. Lunch provided on Saturdays.
- Social work: family registration, Family Life Plan (Plano de Vida Familiar), social interviews, referrals social services and health clinics and other network of services.
• Parental engagement included regular meetings, public utility information advised parents via WhatsApp.
• Educational Impact: 2,606 attendances delivered. Priority given to math skills improvement, literacy recovery for children 8 years old and older impacted by pandemic school closures. Homework support and structured learning;
• Daily meals for The Academy project beneficiaries, mitigating household food insecurity.
- Families completed a “Family Life 5-year Plan
- Safeguarding & Network Articulation and active referrals to Rio’s social assistance and health networks. Supported cases involving mental health and domestic violence.
- Casa Jimmy facilities: 6 activity rooms, sports court, library with 300 books, 12 IT workstations, 9 tablets, kitchen, refectory, playground. Swimming pool under repair.
- Supported school retention, addressed post-COVID literacy gaps for children 8+ who were semi-literate, strengthened family bonds, and developed personal/social skills.
Project Step Stone: Follow-up support for former residential beneficiaries from 1998–2011 and their families. To strengthen family/community ties and prevent return to street situations through referrals to Auxílio Brasil, ProJovem, 1st Job opportunities, health, housing, and shelter networks. There was no spontaneous demand.
Project Existência – Emergency Relief: Humanitarian food security and psychosocial support and referral for families in poverty as needed.
- 113 distributions totalling 1,404 items to children and families, including:
- Fresh produce from Task Brasil Trust land: oranges, avocados, jackfruit, lemon balm.
- Donated clothing, footwear, bedding, mattresses.
- 50 families received Christmas hampers with Chester and 12+ items, sponsored by Jimmy Page.
• 1 family received a food parcel.
## **Financial review**
Funding Sources in 2024 were from voluntary donations by individuals in the UK and international organisations, corporate partners, fundraising events such as the London Marathon that attracted 17 runners raising funds for Casa jimmy project, and rental income from a property owned by the charity in Rio de Janeiro, Brazil. Funds raised covered staff salaries and statutory obligations, beneficiary meals, educational materials, utilities, property maintenance, transport for home visits and beneficiary attendance.
Task Brasil Trust held CEBAS charitable certification in Brazil, granting exemption from employer social security contributions and maximising funds applied to charitable activities.
Trustees aim to maintain 3–6 months of operating costs Reserves Policy to ensure service continuity\.
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## _Major risks_
The principal risks identified are safeguarding of beneficiaries, reliance on voluntary income, foreign exchange volatility, and compliance with Brazilian regulation. Mitigations include safeguarding and background checks for all staff, monthly financial monitoring, reserves policy, charitable certification in Brazil for tax relief, and regular policy reviews.
- 2 -
## **TASK BRASIL TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **Plans for future periods**
The Academy project : Continue 6-day service. Expand maths and literacy catch-up programme for beneficiaries aged 8 and older. Seek funding to repair swimming pool, for additional staff and maintenance needs.
- Mundo do Trabalho : Re-launch with Fundação Mudes in 2025. Under review for 2025, subject to demand.
- Step Stone Project: subject to demand.
- Existência Project– Emergency Relief: Maintain as rapid-response project. Strengthen mental health referral pathways for women and adolescents.
Task Brasil Trust continues to operate and provide much needed support despite the significant local and global challenges in which we operate. We receive no support from the government and make a concerted effort to keep all costs tightly controlled. That includes a significant amount of time devoted by the trustees on a purely voluntary basis including various expenses donated to the charity on a pro bono basis.
## **Structure, governance and management**
Task Brasil Trust is an unincorporated trust governed by its Governing Document: Trust Deed dated 30 December 1993.
The Board of Trustees meets regularly to oversee strategy, safeguarding, finance, and risk management. Day-today operations in Brazil are delegated to the Administrator and Operations Coordinator, supported by qualified social workers, psychologist educators, managed by Trustee Ligia Ferreira da Silva.
Trustees are appointed by resolution of the existing Board. New trustees receive the Charity Commission’s guidance, the Trust’s safeguarding policy, and have visited the operations in Brazil.
The trustees who served during the year and up to the date of signature of the financial statements were: L Da Silva Mr R Fine Mr J Rorrison Dr M Periera dos Santos
The trustees' report was approved by the Board of Trustees.
.............................. L Da Silva **Trustee**
Date: .............................................
- 3 -
## **TASK BRASIL TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TASK BRASIL TRUST**
I report to the trustees on my examination of the financial statements of Task Brasil Trust (the charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
- I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
## **Hazel Day**
Xeinadin London Limited 46/48 East Street Epsom Surrey KT17 1HQ United Kingdom Date: ............................
- 4 -
## **TASK BRASIL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
93,933
-
Investments
**4**
822
-
Other income
-
-
**Total income**
94,755
-
**Expenditure on:**
Raising funds
**5**
11,575
-
Charitable activities
**6**
13,135
22,217
**Total expenditure**
24,710
22,217
**Net income/(expenditure)**
70,045
(22,217)
Transfers between
funds
-
-
**Net movement in**
**funds**
**8**
70,045
(22,217)
**Reconciliation of funds:**
Fund balances at 1 January
2024
(133,929)
71,300
**Fund balances at 31**
**December 2024**
(63,884)
49,083|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
93,933
45,566
-
822
348
-
-
16
-
94,755
45,930
-
11,575
12,959
-
35,352
66,482
8,080
46,927
79,441
8,080
47,828
(33,511)
(8,080)
-
(817)
817
47,828
(34,328)
(7,263)
(62,629)
(99,601)
78,563
(14,801)
(133,929)
71,300|**Total**
**2023**
**£**
45,566
348
16
45,930
12,959
74,562
87,521
(41,591)
-
(41,591)
(21,038)
(62,629)|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **TASK BRASIL TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|**2024**
**Notes**
**£**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
979
Cash at bank and in hand
43,416
44,395
**Creditors: amounts falling due within**
**one year**
**15**
(108,279)
**Net current liabilities**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**16**
Unrestricted funds
**17**|**2023**
**£**
**£**
**£**
49,083
71,300
216
4,132
4,348
(138,277)
(63,884)
(133,929)
(14,801)
(62,629)
49,083
71,300
(63,884)
(133,929)
(14,801)
(62,629)|
|---|---|
The financial statements were approved by the trustees on .........................
..............................
L Da Silva **Trustee**
- 6 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **Charity information**
Task Brasil Trust is an unincorporated charity registered in England and Wales.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The Charity has net liabilities on unrestricted funds. Trustees have loaned the Charity money (as detailed in the related parties note) and have agreed to support the Charity financially and not request repayment of the loans until the Charity is in a position to be able to repay these.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Straight line over 25 years Fixtures and fittings 20% on cost and 10% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Foreign exchange**
The Trust has activities in Brazil. All Brazilian Real amounts in both the Balance Sheet and the Statement of Financial Activities are converted at the year end exchange rate of £1 = R$7.757 (2023 £1 = R$6.1816).
## **1.12 Consolidation**
The financial statements are a consolidation of the two entities, Task Brasil Trust, the UK registered charity, and its controlled entity of the same name registered in Brazil. Consolidation of the two entities has been prepared on a line by line basis, with intra group transactions being eliminated in accordance with applicable accounting standards.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Donations and gifts|70,356|39,078|
|Legacies|15,000|-|
|Child sponsorship|8,577|6,488|
||93,933|45,566|
## **4 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Interest receivable|822|348|
|**Expenditure on raising funds**|||
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|**Fundraising and publicity**|||
|Fundraising, publicity and event costs|6,920|6,195|
|**Trading costs**|||
|UK management and administration|4,655|6,764|
|Total costs|11,575|12,959|
**5 Expenditure on raising funds**
- 10 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **6 Expenditure on charitable activities**
||**Heading**|**Heading**|
|---|---|---|
||**#ac982**|**#ac982**|
||**2024**|**2023**|
||**£**|**£**|
|**Direct costs**|||
|Depreciation and impairment|7,737|10,800|
|Brazil project costs|36,366|63,413|
|Exchange (gain)/loss|(8,751)|349|
||35,352|74,562|
|**Analysis by fund**|||
|Unrestricted funds|13,135|66,482|
|Restricted funds|22,217|8,080|
||35,352|74,562|
## **7 CHARITABLE ACTIVITIES COSTS**
Direct charitable expenditure primarily relates to salaries and other running costs of Casa Jimmy and other projects in Rio de Janeiro, Brazil.
In 2024, R$60,019 (£7,737) in local currency was included in this amount, which refers to non-cash costs related to depreciation. The largest component of costs in Brazil is Employees Expenses (salaries and other benefits) of local staff which totalled R$164,885 in local currency. The aforementioned was equivalent to £21,256 at the year end exchange rate.
|**8**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|1,750|1,650|
||Depreciation of owned tangible fixed assets|7,737|10,800|
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
During the year the average number of UK employees was Nil, there are staff employed in the Brazil branch but these numbers are not provided.
There were no employees whose annual remuneration was more than £60,000.
- 11 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **11 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **12 Exchange gain/loss**
These are due to movements in value of the Brazilian currency, and is principally driven by the retranslation of Brazilian cash and fixed assets at closing exchange rates, and exchange differences on cash transfers made to Brazil.
## **13 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 January 2024
242,733
372
Exchange adjustments
(49,298)
(5,487)
At 31 December 2024
193,435
(5,115)
**Depreciation and impairment**
At 1 January 2024
171,805
-
Depreciation charged in the year
7,737
-
Exchange adjustments
(34,893)
(5,412)
At 31 December 2024
144,649
(5,412)
**Carrying amount**
At 31 December 2024
48,786
297
At 31 December 2023
70,929
371
**14**
**Debtors**
**2024**
**Amounts falling due within one year:**
**£**
Other debtors
979
**15**
**Creditors: amounts falling due within one year**
**2024**
**£**
Other creditors
103,019
Accruals and deferred income
5,260
108,279|**Total**
**£**
243,105
(54,785)
188,320
171,805
7,737
(40,305)
139,237
49,083
71,300
**2023**
**£**
216
**2023**
**£**
136,377
1,900
138,277|
|---|---|
Taxation and social security principally comprise Brazilian payroll taxes, which are paid one month in arrears.
- 12 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **16 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**At 1**
**Previous year:**
**At 1**|**January**
**2024**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
71,300
(22,217)
-
49,083
**January**
**2023**
**Resources**
**expended**
**Transfers**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
78,563
(8,080)
817
71,300|
|---|---|
Restrictions are in the form of both donations made to cover specific elements of operational costs of projects in Brazil and also donations made for the acquisition of specific items. The trustees ceased to consider child sponsorship income as restricted funds in 2010, as amounts donated are not linked to any specific items of expenditure.
Restricted funds are held in the form of fixed assets in Brazil which have been acquired under restrictions. Although not all properties and other assets owned by the trust were purchased with funds donated with restrictions on any possible resale, the trustees consider it more prudent to consider all fixed assets to be held under restrictions.
## **17 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 January**|**Incoming**|**Resources**|**Transfers**|**At 31**|
|---|---|---|---|---|---|
||**2024**|**resources**|**expended**||**December**|
||||||**2024**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|(133,929)|94,755|(24,710)|-|(63,884)|
|**Previous year:**|**At 1 January**|**Incoming**|**Resources**|**Transfers**|**At 31**|
||**2023**|**resources**|**expended**||**December**|
||||||**2023**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|(99,601)|45,930|(79,441)|(817)|(133,929)|
- 13 -
## **TASK BRASIL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **18 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**||
||**2024**|**2024**|**2024**|
||**£**|**£**|**£**|
|**At 31 December 2024:**||||
|Tangible assets|-|49,083|49,083|
|Current assets/(liabilities)|(63,884)|-|(63,884)|
||(63,884)|49,083|(14,801)|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2023**|**2023**|**2023**|
||**£**|**£**|**£**|
|**At 31 December 2023:**||||
|Tangible assets|-|71,300|71,300|
|Current assets/(liabilities)|(133,929)|-|(133,929)|
||(133,929)|71,300|(62,629)|
## **19 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
Three of the trustees have made loans to the Charity, either in the UK or Brazil or both which are repayable when the finances of the Charity permit.
The funds were used to pay the staff and to pay for general operational costs in order to keep the projects running.
## **20 PARENT**
At 31st December 2024, the parent entity had cash assets of £15,608 (2023 £1,007), and liabilities of £23,910 (2023 £20,550).
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