Charity registration number 1041449
MIRACLES
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
MIRACLES
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr R Bean |
|---|---|
| Ms M Pereire | |
| Mr B Williams | |
| Mr R Rodriguez Minguela | |
| Ms H Clavel-Flores | |
| Mr M Anderson | |
| Mr T Wilson | |
| Ms S Spires | |
| Charity number | 1041449 |
| Principal address | 85 Great Portland Street |
| London | |
| W1W 7LT | |
| Independent examiner | RDP Newmans LLP |
| Lynwood House | |
| 373-375 Station Road | |
| Harrow | |
| Middlesex | |
| HA1 2AW | |
| Bankers | CAF Bank Limited, Kings Hill |
| Kent | |
| West Malling | |
| ME19 4TA | |
| Metro Bank | |
| One Southampton Row | |
| London | |
| WC1B 5HA |
MIRACLES
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 17 |
MIRACLES
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees present their annual report and financial statements for the year ended 31 October 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and "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)" (as amended for accounting periods commencing from 1 January 2016)
The Trustees have complied with the duty in Section 17 (5) of the 2011 Charities Act to have paid due regard to guidance issued by the Charity Commission in relation to the activities being for the public benefit.
Objectives and activities
The aims and objects of Miracles remain to provide support to children and their families living in poverty and to help them through crises situations such as serious illness. The allocation of funding is at the discretion of the Board of Trustees with advice taken on the eligibility of the beneficiaries from the UK referral agencies (Children's Hospitals, CAs, Social Workers, Women's Refuges etc.).
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they charity should undertake.
Achievements and performance
The year 2022-23 has been both a remarkable and impactful year for Miracles. Remarkable because we have reached and supported more children and families than ever before, reflecting our growing ability to provide crucial assistance. The year has also highlighted the pressing needs families face, primarily due to the cost of living crisis and continued cuts in benefit support, such as the two-child cap.
Our crisis work, expertly managed by our Case Work Coordinator, saw an extraordinary 89% increase from the previous year, rising from 133 cases in 2021/22 to 251 in 2022/23. Each case represents a family in deep distress, with a child receiving treatment for a life-altering illness. Miracles steps in to alleviate some of their immense stress, removing immediate crises through practical support, allowing families to focus on their children's health and recovery.
We have supported these families by providing essential items like beds, cookers, fridges, and washing machines. We have covered hospital travel costs for immune-compromised children, supplied prams and buggies, paid for accommodation during hospital visits, stocked fridges with food, handled house repairs, dealt with mold, halted evictions, and much more.
Our Feed London program, which addresses food poverty among London children during school holidays, also saw a significant increase in support requests. This year, Feed London delivered ingredients for over 15,000 fresh, healthy meals to 660 families (1,500 children)—a 162% increase from the previous year.
Our work would not be possible without our referral partnerships, including Great Ormond Street Hospital, Young Lives v Cancer, Noah's Ark Children's Hospice, Hackney Ark, Hestia, and many others. These partnerships ensure we reach the most marginalized families in London where we can have the greatest impact.
In an effort to strengthen the support needed most and focus our resources, we have discontinued our selfmanaged respite breaks at our Selsey caravan due to rising costs and our inability to guarantee the quality of holidays families need. While we will continue to offer 'bespoke' respite breaks through new partnerships with holiday homes, it will not be on the same scale as before.
2022/23 marked a significant milestone in the expansion of our business partnerships, with Liberty emerging as our standout collaborator. Their support has been exemplary, offering the kind of assistance every small charity dreams of - generous, thoughtful, and supportive. Liberty has provided invaluable funding, volunteer support, and marketing initiatives, enabling us to meet the increasing demand for our services while also attracting new partnerships and alliances.
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MIRACLES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
This kind of business support is invaluable to charities. They provide us the freedom to focus on our core mission, offer essential behind-the-scenes support, and lend credibility through association with their globally respected brands.
We extend our heartfelt thanks to all our remarkable partners and supporters, including Bluewater PE, PinkSEO, the Small Removal Company, ALMT, London Community Fund, the London Livery Companies, Thomas Franks, and many others. Your support has been instrumental in our success.
Our Board of Trustees deserves special recognition. A charity's success is closely linked to the quality of its board, and Miracles is fortunate to have a diverse group of dedicated individuals. Each trustee brings their expertise and has been instrumental in providing both their knowledge and time. As a small charity, we rely heavily on the invaluable support of our trustees, who assist our limited number of employees in delivering such a large impact. Their commitment ensures that Miracles operates effectively and manages donations responsibly, enabling us to reach and support more children and families in need.
This year, our Chair, Helena Clavel-Flores, alongside a formal ladies' committee, organized one of our most successful fundraising events to date. The dinner, held at London's historic Drapers Hall in June, welcomed 150 guests and featured raffles and auctions that significantly boosted our fundraising efforts, raising an impressive £100,000. The collaboration and hard work of the Chair and the ladies' committee were pivotal in making this event a remarkable success.
We are deeply grateful to all who contributed to the exceptional organization of this event and for their continued leadership and dedication to Miracles.
Looking Ahead
As we look ahead to 2023/24, Miracles is poised to build on the momentum of the past year and continue making a significant impact on the lives of children and families in need. Our focus will remain on addressing the most pressing challenges facing our communities, with a particular emphasis on those exacerbated by the ongoing cost of living crisis.
We aim to extend our crisis support and our Feed London efforts to even more families in the UK. By strengthening our referral partnerships and forging new alliances with hospitals, and community organizations, we will ensure that our services reach the most vulnerable children and families.
Our crisis support programs will be further developed to address the evolving needs of the families we serve. We plan to introduce new initiatives aimed at providing lasting support, including educational and training opportunities for young people.
Engaging with our local communities will continue to be a priority in the coming year. We will raise awareness of our services and encourage community involvement. By fostering a sense of community, we aim to create a stronger support network for the families we assist.
To ensure the long-term sustainability of Miracles, we will focus on diversifying our funding sources. In particular we will continue to focus on deepening the existing partnerships and expanding our corporate partnerships efforts, increasing donations, and exploring new grant opportunities. Our successful fundraising events, such as the annual dinner, will continue to play a crucial role in our financial strategy.
As we embark on this new chapter, we remain committed to our mission of providing essential support to children and families in crisis. With the continued dedication of our trustees, staff, volunteers, and supporters, we are confident that 2023/24 will be a year of growth, innovation, and lasting impact.
In 2024 we gifted the Miracles Center in Bosnia to the Divita Miracles charity, so that the work carried out that can be done locally without the need for the UK charity. We wish the team in Bosnia all the continued success.
Thank you for your unwavering support as we look forward to another year of making a difference together.
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MIRACLES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Financial review
Miracles is able to report incoming resources of £536,003 and finished the financial year with a net surplus of £100,773. It has funds amounting to £776,554 which comprised of designated funds of £495,691 relating to property ownership of the Miracles Centre, BiH, general unrestricted funds of £263,077 and restricted funds of £17,786 as of 31 October 2023.
Incoming resources have been increased by 76% and total resources expended have increased by 59% (£434,870 in 2023) resulting in an overall surplus generated for the year.
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 months' 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.
The principal funding sources were the donations received from various donors.
Risk management
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Future developments
The prospects for families grappling with poverty and severe hardship appear grim. The enduring repercussions of restricted lives caused by the CoLC will significantly impact children's health, well-being, and life opportunities.
In the upcoming year, Miracles faces the task of addressing this escalating and urgent demand. Our strategy centers on the continual growth of partnerships. Collaborations with referral entities including children's hospitals, hospices, local authorities, and women's refuges enable us to deeply engage with communities where our efforts wield the most influence. These partnerships enhance the foundation of our work, equipping us to fully comprehend beneficiaries' needs and provide effective and immediate assistance in response to their appeals.
For sustainable success, we must also nurture our support networks. Embracing relationships with the business community, exemplified by Bluewater, Liberty, and the Newcore Foundation, along with Trusts and Foundations like ALMT, National Lottery, and Livery Companies, is paramount.
Above all, continued interaction with our beneficiaries is pivotal. Through social media, feedback loops, and direct interactions in their surroundings, we ensure their voices resonate within our endeavors, preserving Miracles authenticity and relevance.
While we may not single-handedly eradicate child poverty or find a cure for childhood ailments, we can contribute to the solution. By alleviating some of the intense stress parents and caregivers face during crises, we offer them room to focus on what truly matters – their children.
Structure, governance and management
Miracles is a Charitable Trust established on 12th October 1994 to ease the burden of suffering on person or persons in Supreme Need - primarily in the UK and Bosnia. The charity registration number is 1041449 and the principal office is 85 Great Portland Street, London, W1W 7LT.
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MIRACLES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr R Bean
Ms M Pereire Mr B Williams Mr R Rodriguez Minguela Ms H Clavel-Flores Mr M Anderson Mr T Wilson Ms S Spires
The charity is managed by its Board of Trustees personally introduced and integrated within the Board prior to signing the official Deed of Appointment.
Every future Trustee shall be appointed by resolution of the Trustees passed at a Trustees' meeting. In selecting persons to be appointed as Trustees, the Trustees shall take into account the benefit of appointing a person (who through residence, occupation, employment or otherwise has special knowledge of the area of benefit or) who is otherwise able by virtue of his or her personal or professional qualification to make a contribution to the pursuit of the objects of the management of the Charity.
All new Trustees are introduced through existing Board Members. They are supplied with a copy of the Trust Deed of Miracles together with current and previous Annual Reviews before attending a full Board Meeting at which their roles will be discussed. Once they are happy to join the Board, a letter of welcome is sent to them with basic information on the role of a Trustee and details of the Charity Commission Website from which additional information can be found. A letter of appointment is then sent (in duplicate) with the request for them to sign and return the second copy as confirmation of their agreement/eligibility to serve.
The Trustees' report was approved by the Board of Trustees.
Mr R Bean
Trustee / Hon. Treasurer Dated: 28 August 2024
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MIRACLES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIRACLES
I report on the accounts of the charity for the year ended 31 October 2023, which are set out on pages 6 to 15.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am require to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.
Respective responsibilities of Trustees and examiner
The Trustees of Miracles are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of the Institute of Chartered Accountants in England and Wales.
It is my responsibility to:
-
(i) examine the financial statements under section 145 of the 2011 Act;
-
(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no material matter has come to my attention which gives me reasonable cause to believe that in any material respect:
-
(a)
-
(i) the accounting records were not kept in accordance with section 130 of the Charities Act 2011; or
-
(ii) the accounts did not accord to those records
-
(b) the financial statements did 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.
Paresh Radia FCA RDP Newmans LLP
Lynwood House 373-375 Station Road Harrow Middlesex
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MIRACLES
INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF MIRACLES
HA1 2AW
Dated: 28 August 2024
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MIRACLES
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 2 207,156 201,780 Other trading activities 3 126,195 - Investments 4 872 - Total income 334,223 201,780 Expenditure on: Raising funds 5 42,705 - Charitable activities 6 201,026 191,499 Total resources expended 243,731 191,499 Net incoming resources before transfers 90,492 10,281 Gross transfers between funds 12 3,958 (3,958) Net income for the year/ Net movement in funds 94,450 6,323 Fund balances at 1 November 2022 664,318 11,462 Fund balances at 31 October 2023 758,768 17,785 |
Total 2023 £ 408,936 126,195 872 536,003 42,705 392,525 435,230 100,773 - 100,773 675,780 776,553 |
Total 2022 £ 235,802 67,909 64 |
|---|---|---|
| 303,775 | ||
| 11,681 | ||
| 262,628 | ||
| 274,309 | ||
| 29,466 - |
||
| 29,466 646,314 |
||
| 675,780 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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MIRACLES
BALANCE SHEET
AS AT 31 OCTOBER 2023
| Notes Fixed assets Tangible assets 13 Programme related investments 14 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charity Restricted income funds 17 Unrestricted funds |
2023 £ 258,789 (7,612) |
£ 809 524,567 525,376 251,177 776,553 776,553 17,785 758,768 776,553 |
2022 £ 142,731 (4,910) |
£ - 537,959 |
|---|---|---|---|---|
| 537,959 137,821 |
||||
| 675,780 | ||||
| 675,780 | ||||
| 11,462 664,318 |
||||
| 675,780 |
The financial statements were approved by the Trustees on 28 August 2024
Mr R Bean Ms H Clavel-Flores Trustee / Hon. Treasurer Trustee / Chair
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
MIRACLES
1 Accounting policies
Charity information
Miracles is a charitable trust governed by its government document dated 12 October 1994.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 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. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
1.4 Incoming resources
Donations are recognised as and when they are remitted to the charity.
Donated services and gifts in kind are included at the value to Miracles where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Listed and unlisted investment income is accounted for when receivable.
Advance payments received during the period for activities to be carried out in later financial years are not reflected in the statement of financial activities. These amounts have been deferred to the financial year in which the activities will be carried out, and are reported as deferred income. Deferred income is included in creditors.
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
1 Accounting policies
(Continued)
1.5 Resources expended
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.
Expenditure is recognised on an accrual basis, inclusive of VAT.
Cost of generating funds are those costs incurred in attracting voluntary income, in particular grant funding and the costs of maintaining the charity's profile within the sector.
Expenditure relating to Supreme Needs projects are those elements of expenditure directly incurred in performing these activities.
Governance costs include those costs incurred in the governance of the charity's assets and are primarily associated with constitutional and statutory requirements.
Support costs include central functions and have been allocated to the sole charitable activity.
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:
Fixtures, fittings & equipment
25% straight line
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.
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.
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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.
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.
1.9 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.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11 Foreign exchange
Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All gains are recorded as investment income and all losses as a support cost of the relevant activity.
1.12 Programme related investments
Programme related investments are stated at cost less depreciation.
2 Income from donations and legacies
| Unrestricted Restricted funds funds 2023 2023 £ £ Donations and gifts 150,491 201,780 Grants 56,665 - 207,156 201,780 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 352,271 107,166 117,786 56,665 10,850 - 408,936 118,016 117,786 |
Total 2022 £ 224,952 10,850 |
|---|---|---|
| 235,802 |
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
3 Other trading activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Gala Dinner | 125,855 | 64,279 | |
| Others | 340 | 3,630 | |
| Other trading activities | 126,195 | 67,909 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 872 | 64 | |
| 5 | Raising funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Costs of generating voluntary income | |||
| Other fundraising costs | 1,992 | - | |
| Staff costs | 13,231 | - | |
| Costs of generating voluntary income | 15,223 | - | |
| Fundraising trading costs (events) | |||
| Gala Dinner | 27,482 | 11,681 | |
| 42,705 | 11,681 |
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
6 Charitable activities
| Supreme Needs projects (UK and Bosnia) £ Staff costs 137,083 Depreciation 13,662 Direct expenses 84,901 Other directly attributable expenses 321 235,967 Grant funding of activities (see note 7) 37,165 Share of support costs (see note 8) 1,905 Share of governance costs (see note 8) 10,698 285,735 Analysis by fund Unrestricted funds 94,236 Restricted funds 191,499 285,735 For the year ended 31 October 2022 Unrestricted funds 114,717 Restricted funds 126,429 241,146 |
Feed London £ 30,872 - 75,918 - 106,790 - - - 106,790 106,790 - 106,790 21,482 - 21,482 |
Total 2023 £ 167,955 13,662 160,819 321 342,757 37,165 1,905 10,698 392,525 201,026 191,499 392,525 |
Total 2022 £ 176,258 13,392 44,244 979 |
|---|---|---|---|
| 234,873 17,790 2,589 7,376 |
|||
| 262,628 | |||
| 136,199 126,429 |
|||
| 262,628 |
Staff costs (including any related pension costs) are allocated in accordance with the activities worked on by each staff member.
7 Grants payable
| Supreme | 2022 | |
|---|---|---|
| Needs | ||
| projects (UK | ||
| and Bosnia) | ||
| 2023 | ||
| £ | £ | |
| Grants to individuals | 37,165 | 17,790 |
-
13 -
MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
8 Support and governance costs
Foreign exchange losses Bank charges Office costs Insurance Other expenses Independent examination fees Legal and professional Analysed between Charitable activities |
Support costs Governance costs £ £ (256) - 342 - 863 - 668 - 288 - - 3,960 - 6,738 1,905 10,698 1,905 10,698 |
2023 £ (256) 342 863 668 288 3,960 6,738 12,603 12,603 |
2022 £ 323 371 1,412 297 186 3,600 3,776 |
|---|---|---|---|
| 9,965 | |||
| 9,965 |
Support costs are all allocated to the Supreme Needs charitable activity.
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
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Other pension costs |
2023 Number 8 2023 £ 179,700 1,486 181,186 |
2022 Number 8 |
|---|---|---|
| 2022 £ 174,772 1,486 |
||
| 176,258 |
There were no employees whose annual remuneration was £60,000 or more.
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
11 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Transfers
During the year an amount of £3,958, being the remaining surplus on the Sobell Foundation restricted fund was transferred to unrestricted funds.
13 Tangible fixed assets
| Fixtures, | |
|---|---|
| fittings & | |
| equipment | |
| £ | |
| Cost | |
| At 1 November 2022 | 4,492 |
| Additions | 1,079 |
| At 31 October 2023 | 5,571 |
| Depreciation and impairment | |
| At 1 November 2022 | 4,492 |
| Depreciation charged in the year | 270 |
| At 31 October 2023 | 4,762 |
| Carrying amount | |
| At 31 October 2023 | 809 |
14 Programme related investments
| At 1 November 2022 Depreciation At 31 October 2023 |
£ 537,959 (13,392) 524,567 |
|---|---|
On 17 April 2024, the Miracles Centre was gifted to Divita Miracles.
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
15 Creditors: amounts falling due within one year
| Other taxation and social security Trade creditors Accruals and deferred income 16 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2023 £ 1,094 2,558 3,960 7,612 2023 £ 1,486 |
2022 £ 1,310 - 3,600 |
|---|---|---|
| 4,910 | ||
| 2022 £ 1,486 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
17 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.
| Balance at 1 November 2022 r £ Bosnia projects 3,679 Spink 3,826 The Sobell Foundation 3,958 11,462 |
Movement in funds Incoming esources Resources expended £ £ 191,780 (180,499) 10,000 (11,000) - - 201,780 (191,499) |
Transfers Balance at 31 October 2023 £ £ - 14,960 - 2,826 (3,958) - (3,958) 17,785 |
Transfers Balance at 31 October 2023 £ £ - 14,960 - 2,826 (3,958) - (3,958) 17,785 |
|---|---|---|---|
| 17,785 |
The Bosnia projects restricted fund represents donations received to be spent on the Prosthetic project. The Prosthetic project is a medical centre set up to provide prosthetic limbs to landmine victims.
The Spink project relates to 2 very disabled men and funds are used to pay for various items as and when required.
The Sobell Foundation was set up to support Caseworker and Co-ordinator salary. Having fulfilled all criteria, the remaining surplus was transferred to unrestricted funds.
The Trustees are satisfied that adequate resources are in place to adhere to any restrictions.
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MIRACLES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
18 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Balance at | Resources | Balance at | ||
|---|---|---|---|---|
| 1 November | expended 31 October 2023 |
|||
| 2022 | ||||
| £ | £ | £ | ||
| Bosnia sites | 509,083 | (13,392) | 495,691 | |
| 509,083 | (13,392) | 495,691 | ||
| The assets fund is the value of the programme related assets in the balance sheet. | ||||
| The Trustees have designated the programme | related assets fund as The Miracles Centre and all other | |||
| tangible fixed assets within are fundamental to meeting its charitable objects. | ||||
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | Total | |
| funds | funds | |||
| 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Fund balances at 31 October 2023 are | ||||
| represented by: | ||||
| Tangible assets | 809 | - | 809 | - |
| Programme related assets | 524,567 | - | 524,567 | 537,959 |
| Current assets/(liabilities) | 233,391 | 17,786 | 251,177 | 137,821 |
| 758,767 | 17,786 | 776,553 | 675,780 |
19 Analysis of net assets between funds
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