Registered number: 02973200 Charity number: 1041711
World in Need International Ltd
(A Company Limited by Guarantee)
Unaudited
Trustees' Report and Financial Statements For the Year Ended 31 March 2024
World in Need International Ltd
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 - 31 |
World in Need International Ltd
(A Company Limited by Guarantee)
Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2024
| Trustees | A Martin |
|---|---|
| I S J Martin, Chair and Treasurer | |
| K L Powney | |
| D M Rowe, Deputy Chair | |
| A K Yip, Secretary | |
| Company registered number 02973200 Charity registered number 1041711 Registered office Trinity Training Centre Mill Crescent Park Road Crowborough East Sussex TN6 2QU Chief executive officer David Goodchild Accountants Kreston Reeves LLP Chartered Accountants Springfield House Springfield Road Horsham West Sussex RH12 2RG Bankers Lloyds Bank plc 82 Mount Pleasant Road Tunbridge Wells Kent TN1 1RP |
Page 1
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report For the Year Ended 31 March 2024
The Trustees present their annual report together with the financial statements of the Charity for the financial period between 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Purpose, objectives and activities
a. Purpose
Our purpose is Practical Mission – we support local communities to feed, educate and help those in need and give them the opportunity to follow Jesus Christ.
World In Need seeks to support our Global Family, coming alongside them as they serve the physical and spiritual needs of their communities. We call this ‘Practical Mission’. We do not have a ‘one size fits all’ approach, rather we are guided by the vision in the heart of our Global Family leaders on the ground. They know and understand the needs of the communities that they serve - we seek to support them as they help those in need and give them the opportunity to follow Jesus Christ. We currently serve poorer communities in ten different nations across Africa and Asia.
We partner with smaller organisations with a particular interest in helping children, working in countries facing poverty. These organisations are run by local people who align with our vision, values and purpose. Most would not normally receive support from the larger aid organisations, due to their smaller size.
b. Objectives
In fulfilling our purpose, we have 6 objectives:
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Support local communities to feed, educate and help those in need
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Support local communities with the opportunity to follow Jesus Christ
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Reaching our Market
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Prayer
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Charity Governance 6. Operations
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
Page 2
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Purpose, objectives and activities (continued)
c. Activities undertaken to achieve objectives
In support of our objectives, this year we have focused on the following strategies:
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development of UK team cohesion and communication;
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promotion of the charity's work through the distribution of the World in Need newsletter and Email Updates;
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investing time in pastoral care and well-being of Global Family leaders following a difficult few years globally and personally;
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focus on child sponsorships and introduction of Project Support;
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development of the basic discipleship course programme;
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investing in existing projects in various locations globally;
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strengthening the support provided by the UK.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The clearly identifiable public benefits of the charity, in line with the charity’s purpose, are:
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the relief of poverty, sickness and distress and in many cases advancing education by sponsoring children and families in the developing world;
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the enabling of local people in several developing countries to build and run training centres, schools, children’s homes and agricultural farms by providing finance, literature and expertise;
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provision of humanitarian aid in disaster-stricken countries, where we usually operate;
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the promotion of Christian values through Biblical teaching.
In setting our programmes each year the Trustees have regard to the Charity Commission's general guidance on public benefit and on the prevention and relief of poverty. The Trustees always ensure that the programmes undertaken are in line with our charitable objects and aims.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 3
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Achievements and performance
a. Main achievements of the Charity
An update from the CEO
This financial year has seen World in Need building on the previous year of change. I continue to be grateful for the commitment and support of our Trustees, UK Staff team, volunteers and Global Family. I am particularly thankful to God for the ongoing support of our sponsors and donors for their generosity and faithfulness through the past year. As relationships with our Global Family have deepened, we have been able to continue to support them as they navigate the challenges in their own particular contexts.
Sponsorship
Sponsorships have decreased this year, primarily due the difficulty in finding new sponsors, especially in the younger age range – something that appears to be happening across the sector. In response to our Global Family, we have reviewed our default sponsorship value and increased it to £28 per month, having previously been set at £22 for the past 11 years. We have also begun to see if existing sponsors would be willing to meet this new amount.
Appeals
Our appeals have been successful throughout the year, enabling us to provide for specific requests for support from our Global Family members.
Discipleship Programme
The Basic Discipleship Course pilot scheme was completed in Kenya, the Philippines and Uganda. A review was undertaken, and guidelines were produced for the next phase. The next phase was then started in the three existing countries with the addition of Ethiopia and an extra location in Uganda and the Philippines. We continue to work in close relationship with Emmanuel Press in South Africa and share our successes with them.
Global Family
Regular online meetings have maintained good relationships with Global Family members. Supporting individuals with pastoral care, mentoring and coaching, as they navigate the challenges that they face be it local, national or global.
Sierra Leone
It was a pleasure to visit Sierra Leone, to see the work of Tamba and Marina in Freetown. I visited the school and some of the churches that he is overseeing. The school was progressing well. Tamba has a good reputation within the city with other churches and plays an advisory role to government from time to time.
DR Congo
Claudaline and family have had a better year and she is very grateful for the support of faithful friends in the UK to see her through. She and her board made the decision to focus on running one school, so the Grace school was sold and now her attention is focused on running Hope School, which is going well. We were blessed to have a visit to the UK by Claudaline and we hosted an event for her at our offices.
Uganda – Central
The Maranatha School continues to do well, although they have had some staffing issues which resulted in disciplinary actions. Throughout this challenge Global Family member Albert and the board have acted very professionally with openness and integrity. I was able to visit the school to see the good work first hand and to meet sponsored children. The school chicken and egg production project has been a success. We were also able to send funds for security fencing and reception class floor repair. The second Basic Discipleship Course was started this year.
Page 4
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Achievements and performance (continued)
Uganda – North
I had the privilege of visiting George and his family in the Northern part of Uganda, I saw first-hand the great work of Jesus Is The Way School, and the sponsored children. It was also good to see some of the community projects that George has started and I had the opportunity to meet with the board. His commitment and heart for the children in that region was clear to see. We have been able to support the school with 200 new beds, mattresses and mosquito nets raised through an appeal.
Kenya
I was able to visit Robert for breakfast enroute to Sierra Leone. Later in the year, I stayed with Robert in his home town of Soy in Kenya. During my visit I was able to see the work of Nancy George Academy and the sponsored children. The school continues to flourish amidst challenges. We have been able to raise the funds for the much-needed work on the Science Lab and Computer Room. The second Basic Discipleship Course was started this year.
Ethiopia
I was able to visit the work of the Rightpath in Ethiopia, to see the valuable work that they are doing amongst families in poverty, visiting sponsored children and the office. I was also able to meet with the board to discuss various matters. Inflationary pressures continue to be a challenge, and we continue to support their rental costs.
Pakistan
We have been able to continue to support our Global Family in Pakistan, helping her to support many families in the area with support for school fees and food supplies. The situation in the country continues to be challenging due to political and religious unrest. Visiting the project has been advised against due to the risk of religious backlash.
India – Punjab
The children in the boys children’s home are well. Although Global Family member Rachel does not live onsite, she is in daily communication and oversees the work. There have been some changes in staff, but these have been managed well and the home continues to provide a safe home for the boys.
India – Faridabad
The work has continued in India, and Global Family leader Sheeba has been responding and recovering from cancer treatment. The work continues to provide for the children’s educational and social needs and is supported by a small but faithful team.
Bangladesh
We successfully raised funds through an emergency appeal for blankets in the northern part of the country, as well as new furniture for the Home Of The Champions children’s home. Pastor Alfred and the team are all well.
Thailand
The drug rehabilitation centre continues to remain closed, struggling with logistical and staff challenges. The leaders are considering their options for the coming year. Both children of our leaders are being faithfully sponsored and continue in their education. The leaders are supplementing their support by working in a café.
Philippines
The School and Church have managed to rebuild and continue to serve the community following their move to smaller premises. They are now running their second Basic Discipleship Course after the success of the first course.
Poland
I was able to visit Poland to see where the funds that WIN raised were used and meeting Ukrainian refugees who had benefitted. Now that the initial emergency has passed and other longer-term initiatives are now operating and are in a better place to provide the much-needed help, WIN has brought our temporary involvement to a close.
Page 5
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Achievements and performance (continued)
South Africa
Our Relationship with South African organisation Emmanuel Press continues, and our partnership in using their Basic Discipleship Course continues to be received well amongst our Global Family. The partnership is also expanding Emmanuel Press’ ability to share their literature to a wider audience.
The UK Office
The UK team has continued with a positive team dynamic, successfully using the open-plan working environment and optional private meeting rooms. We have continued to work well together as employed and volunteers, with everyone on a part-time basis. We have also continued working in a hybrid fashion using the offices on days when most staff are working, and from home on less busy days.
Database
The database known as ‘Unity’ continues to help us with our operations. It continues to be under development, with further additions possible in the future. Our hope is to continue to use technology to help us save time and deliver a better experience for both our donors and those we exist to support.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The policy of the charity is to maintain both restricted and unrestricted funds at levels that will enable the charity to meet its objectives for the foreseeable future. For restricted funds this is usually self-controlling as programmes are only expended within budgets aligned with their donations or grants. The trustees, CEO and Finance Manager have agreed a cash reserves policy of £40,000 to cover the following needs: staff salaries and services for approximately 3 months and/or an emergency fund. Use of the cash reserves requires trustee and CEO approval. Should a decision to use the reserves be taken in an emergency this will include plans for its replacement. If trustees decide to increase reserves, then the policy will be changed accordingly.
Structure, governance and management
a. Constitution
World in Need International Ltd is registered as a charitable company limited by guarantee. The Trustees and Management are looking to move to a CIO in the next year.
The main purpose of the charity, as set out in the Memorandum of Association, is to relieve poverty, sickness and distress, to preserve the health of persons in any part of the world, and to advance the education of such persons and those involved in administering such relief and all such objects that are charitable in law and not inconsistent with the above.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Page 6
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Structure, governance and management (continued)
c. Induction and training of Trustees
Induction and training of Trustees is carried out through briefings by the Chairman, CEO and staff and by participation in World in Need conferences and other events. Trustees generally have a management or professional background relevant to the charity.
d. Arrangements for setting key management personnel remuneration
The key personnel are the Chief Executive Officer and the finance manager. Their remuneration is approved by the trustees.
e. Organisational structure
The CEO together with his team, which includes the child sponsorship manager and the finance manager, handles the day-to-day management of the charity. Trustees meet both formally and informally about eight times per year in addition to the AGM, and the CEO normally attends these meetings. The Trustees, working together with the CEO, are responsible for setting the overall direction of the charity, for approving the budget and major expenditures, for reviewing income and expenditure against budget and for assessing and mitigating major risks.
f. Related party relationships
World in Need operates outside the UK through relationships with local organisations in Bangladesh, Democratic Republic of Congo, Ethiopia, India, Kenya, Pakistan, the Philippines, Poland, Sierra Leone, South Africa, Thailand and Uganda. These organisations, many with their own governance structures and staff, are full or associate members of the World in Need global family and have agreed to operate in accordance with the World in Need Global Family Agreement. The Global Family regularly meets online for chat, discussion, prayer and mutual encouragement.
Page 7
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Structure, governance and management (continued)
g. Major risks and management of those risks
Significant activities undertaken are subject to a risk review as part of the initial project assessment and implementation. Major risks are identified and ranked in terms of their potential impact and likelihood.
Major risks, for this purpose, are those that may have a significant effect on:
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operational performance, including risks to our personnel and volunteers; or
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achievement of our aims and objectives; or
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meeting the expectations of our beneficiaries or supporters; or
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maintaining the reputation of the charity.
The Trustees review these risks on an ongoing basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified through the maintenance of a formal SORP risk assessment register, with mitigations and corrective actions by Trustees and management. This is subject to trustee/management review at formal meetings, where risk management is reported. Where appropriate, risks are covered by insurance.
The following framework is key to ensuring adequate risk assurance:
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regular monitoring of major risks and development of action plans;
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a system of risk calibration and impact pre and post risk mitigation;
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embedding risk identification and assessment within operating procedures;
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a clear structure of delegated authority and control;
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review of key systems and procedures through internal management arrangements;
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maintaining reserves in line with set policies;
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regular summary reports on risk management to the Trustee Board.
At the end of March 2024 the highest risks were considered to be:
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security of staff and volunteers when travelling to beneficiaries in high risk areas of the world;
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risk of identity and data theft and fraud
In assessing risk the Trustees recognise that some areas of our work require the acceptance and management of some risk if our key objectives are to be achieved.
Page 8
World in Need International Ltd
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
I S J Martin (Chair of Trustees)
Date: 11 December 2024
Page 9
World in Need International Ltd
(A Company Limited by Guarantee)
Independent Examiner's Report For the Year Ended 31 March 2024
Independent Examiner's Report to the Trustees of World in Need International Ltd ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's 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 or for this report.
Signed:
Dated: 11 December 2024
James Peach, FCA
Kreston Reeves LLP, Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG
Page 10
World in Need International Ltd
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 103,073 4,969 12,880 120,922 15,954 112,883 128,837 (7,915) - (7,915) 508,598 (7,915) 500,683 |
Restricted funds 2024 £ 171,181 455 - 171,636 - 175,553 175,553 (3,917) - (3,917) 33,744 (3,917) 29,827 |
Total funds 2024 £ 274,254 5,424 12,880 292,558 15,954 288,436 304,390 (11,832) - (11,832) 542,342 (11,832) 530,510 |
Total funds 2023 £ 282,878 3,887 10,251 |
|---|---|---|---|---|
| 297,016 | ||||
| 18,237 269,024 |
||||
| 287,261 | ||||
| 9,755 80,759 |
||||
| 90,514 | ||||
| 451,828 90,514 |
||||
| 542,342 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 31 form part of these financial statements.
Page 11
World in Need International Ltd
(A Company Limited by Guarantee) Registered number: 02973200
Balance Sheet As at 31 March 2024
| Note Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
3,884 118,689 122,573 (17,218) |
2024 £ 425,155 425,155 105,355 530,510 29,827 500,683 530,510 |
2,950 128,078 131,028 (15,606) |
2023 £ 426,920 |
|---|---|---|---|---|
| 426,920 115,422 |
||||
| 542,342 | ||||
| 33,744 508,598 |
||||
| 542,342 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
I S J Martin
(Chair of Trustees)
Date: 11 December 2024
The notes on pages 13 to 31 form part of these financial statements.
Page 12
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
1. General information
World in Need International Ltd is an incorporated charity registered with the Charity Commission in England and Wales. The registered office address is Trinity Trading Centre, Mill Crescent, Crowborough, East Sussex, TN6 2QU.
The charity is a company limited by guarantee. The members of the company are the Trustees. In the event of the company being wound up, the liability of each Trustee amounts to £1 towards the assets of the charity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
World in Need International Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
No statement of cash flows has been provided as the charity is small under the Charities SORP (FRS 102).
The financial statements are presented in sterling and rounded to the nearest £1.
2.2 Going concern
The trustees have considered the impact of the global uncertainty happening in the world currently. They have considered the charity will continue to operate for the foreseeable future and be able to settle all liabilities as they fall due, and is a going concern.
Page 13
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.4 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 allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 14
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.4 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Gift Aid
Where the right to receive Gift Aid has been established, the amount receivable is recognised as investment income in the Statement of Financial Activities.
2.7 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
2.8 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.9 Tangible fixed assets and depreciation
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date.
Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. If there is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and it is rarely sold, except as part of a contributing business, a Charity may need to estimate fair value using an income or depreciated replacement cost approach.
Gains and losses on revaluation are recognised in the Statement of Financial Activities, with a separate revaluation reserve being shown in the Statement of funds note within Fixed assets fund.
Page 15
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.9 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Freehold property 45 years straight line - Office equipment 5 years straight line
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.14 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
2.15 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
Page 16
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Income from donations and legacies
| Donations and legacies Donations Gift aid reclaimed Legacies Grants Donated services and facilities Total 2024 |
Unrestricted funds 2024 £ 56,785 37,458 1,000 560 7,270 103,073 |
Restricted funds 2024 £ 160,497 644 - 10,040 - 171,181 |
Total funds 2024 £ 217,282 38,102 1,000 10,600 7,270 |
|---|---|---|---|
| 274,254 |
| Donations Gift aid reclaimed Grants from other charities Donated services and facilities Total 2023 |
Unrestricted funds 2023 £ 74,136 37,616 5,250 6,753 123,755 |
Restricted funds 2023 £ 149,032 91 10,000 - 159,123 |
Total funds 2023 £ 223,168 37,707 15,250 6,753 |
|---|---|---|---|
| 282,878 |
Page 17
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
4. Income from charitable activities
| Sales of goods and services Other events income Other events income |
Unrestricted funds 2024 £ 67 4,902 4,969 Unrestricted funds 2023 £ 3,177 |
Restricted funds 2024 £ - 455 455 Restricted funds 2023 £ 710 |
Total funds 2024 £ 67 5,357 |
|---|---|---|---|
| 5,424 | |||
| Total funds 2023 £ 3,887 |
5. Investment income
| Rental income Interest received on bank deposits Rental income Interest received on bank deposits |
Unrestricted funds 2024 £ 9,410 3,470 12,880 Unrestricted funds 2023 £ 9,112 1,139 10,251 |
Total funds 2024 £ 9,410 3,470 |
|---|---|---|
| 12,880 | ||
| Total funds 2023 £ 9,112 1,139 |
||
| 10,251 |
Page 18
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
6. Expenditure on raising funds
Costs of raising voluntary income
| Marketing and publicity Wages and salaries Costs of raising voluntary income - NI Costs of raising voluntary income - pension costs Marketing and publicity Fundraising events Wages and salaries Costs of raising voluntary income - NI Costs of raising voluntary income - pension costs |
Unrestricted funds 2024 £ 2,760 12,541 26 627 15,954 Unrestricted funds 2023 £ 2,830 (30) 14,577 131 729 18,237 |
Total funds 2024 £ 2,760 12,541 26 627 |
|---|---|---|
| 15,954 Total funds 2023 £ 2,830 (30) 14,577 131 729 |
||
| 18,237 |
Page 19
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
7. Analysis of expenditure on charitable activities
Summary by fund type
| Country Support Child Sponsorship Country Support Child Sponsorship |
Unrestricted funds 2024 £ 51,450 61,433 112,883 Unrestricted funds 2023 £ 57,134 60,204 117,338 |
Restricted funds 2024 £ 71,800 103,753 175,553 Restricted funds 2023 £ 48,132 103,554 151,686 |
Total 2024 £ 123,250 165,186 |
|---|---|---|---|
| 288,436 | |||
| Total 2023 £ 105,266 163,758 |
|||
| 269,024 |
Summary by expenditure type
| Country Support Child Sponsorship Country Support Child Sponsorship |
Staff costs 2024 £ 52,313 20,583 72,896 Staff costs 2023 £ 53,960 21,499 75,459 |
Depreciation 2024 £ 2,134 - 2,134 Depreciation 2023 £ 2,548 - 2,548 |
Other costs 2024 £ 68,803 144,603 213,406 Other costs 2023 £ 48,758 142,259 191,017 |
Total 2024 £ 123,250 165,186 |
|---|---|---|---|---|
| 288,436 | ||||
| Total 2023 £ 105,266 163,758 |
||||
| 269,024 |
Page 20
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
8. Analysis of expenditure by activities
| Country Support Child Sponsorship Country Support Child Sponsorship |
Activities undertaken directly 2024 £ 92,665 108,384 201,049 Activities undertaken directly 2023 £ 75,453 125,053 200,506 |
Support costs 2024 £ 30,585 56,802 87,387 Support costs 2023 £ 29,813 38,705 68,518 |
Total funds 2024 £ 123,250 165,186 |
|---|---|---|---|
| 288,436 | |||
| Total funds 2023 £ 105,266 163,758 |
|||
| 269,024 |
Basis of allocation
Expenditure is allocated based on the most applicable of the following methods:
-
Allocated to the income source generated
-
Allocated in proportion to time spent
-
100% of costs allocated to charitable activities
-
Allocated in proportion to the level of direct costs associated with the activity
9. Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 2,970 | 2,700 |
Page 21
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
10. Staff costs
| Wages and salaries Social security costs Pension costs |
2024 £ 82,452 100 3,538 86,090 |
2023 £ 86,600 488 3,808 |
|---|---|---|
| 90,896 |
Wages and salaries reported above are the combined staff cost totals as reported in notes 6 and 7.
The average number of persons employed by the Charity during the year was as follows:
| Charitable purposes Raising funds |
2024 No. 1 5 6 |
2023 No. 3 4 |
|---|---|---|
| 7 |
No employee received remuneration amounting to more than £60,000 in either year.
The charity made no redundancy or termination payments during either the current or prior year.
Ex-gratia termination payments to former employees are made when the trustees believe it is appropriate to do so.
The total employee benefits, including employer pension contributions, of the key management personnel of the charity were £54,809 (2023 - £51,339).
The chief executive officer, as the highest paid member of staff, received benefits, including employer pension contributions, totalling £39,667 (2023 - £36,774).
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
Page 22
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
12. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year On disposals At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold property £ 425,000 - - 425,000 - 1,440 - 1,440 423,560 425,000 |
Office equipment £ 17,581 369 (309) 17,641 15,661 694 (309) 16,046 1,595 1,920 |
Total £ 442,581 369 (309) |
|---|---|---|---|
| 442,641 | |||
| 15,661 2,134 (309) |
|||
| 17,486 | |||
| 425,155 426,920 |
The fair value of the company's land and buildings was revalued on 31 March 2023. An independent valuation was conducted by Peter Oliver Homes Limited. The Trustees have reviewed and are happy with the valuation at 31 March 2024.
The land value of the freehold property suffers no depreciation.
The Charity has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured at historic cost, the carrying values would have been as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Freehold property | 90,100 | 90,989 |
Page 23
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
13. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2024 £ 3,555 329 3,884 |
2023 £ 2,779 171 |
|---|---|---|
| 2,950 |
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2024 £ - 1,034 11,017 5,167 17,218 |
2023 £ (382) 848 11,522 3,618 |
|---|---|---|
| 15,606 |
Page 24
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
15. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Fixed assets Revaluation reserve Overhead provision Approved projects General funds General fund Total Unrestricted funds Restricted funds Bangladesh Child sponsorship Congo South Africa (Emmanuel Press) Ethiopia Feeding programme Freight Costs India - Faridabad Kenya Northern Uganda Philippines Sierra Leone Thailand India - Punjab Uganda UK Fundraising UK Miscellaneous Poland Pakistan Discipleship Course |
Balance at 1 April 2023 £ 107,688 319,232 40,000 3,400 470,320 38,278 508,598 - 6,434 - 9,803 495 157 254 27 5,780 2,021 - - - - 625 1,080 1,350 530 800 4,388 33,744 |
Income £ - - - - - 120,922 120,922 5,926 102,659 12,116 16,180 2,301 5,558 - 1,843 3,043 10,562 3,306 418 558 2,284 868 482 - 63 2,527 942 171,636 |
Expenditure £ (2,134) - - (479) (2,613) (126,224) (128,837) (5,926) (98,694) (12,116) (24,028) (2,726) (5,638) - (490) (2,935) (10,791) (3,306) (418) (558) (1,549) (1,448) (257) (350) (593) (3,327) (403) (175,553) |
Transfers in/out £ 920 (551) - (2,546) (2,177) 2,177 - - - - - - - - - - - - - - - - - - - - - - |
Balance at 31 March 2024 £ 106,474 318,681 40,000 375 |
|---|---|---|---|---|---|
| 465,530 | |||||
| 35,153 500,683 |
|||||
| - 10,399 - 1,955 70 77 254 1,380 5,888 1,792 - - - 735 45 1,305 1,000 - - 4,927 |
|||||
| 29,827 |
Page 25
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
| 15. Statement of funds (continued) Total of funds 542,342 |
292,558 | (304,390) | - | 530,510 |
|---|---|---|---|---|
Page 26
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
15. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Fixed assets Revaluation reserve Overhead provision Approved projects General funds General fund Total Unrestricted funds Restricted funds Bangladesh Child sponsorship Congo South Africa (Emmanuel Press) Ethiopia Feeding programme Freight Costs India - Faridabad Kenya Northern Uganda Philippines |
Balance at 1 April 2022 £ 106,680 242,029 30,000 5,200 383,909 45,158 429,067 - 2,906 - - - 160 - - 5,672 4,111 - |
Income £ - - - - - 137,183 137,183 795 101,755 12,600 12,353 2,768 5,114 148 1,064 2,136 1,312 4,046 |
Expenditure £ (2,548) - - (1,800) (4,348) (131,227) (135,575) (795) (98,367) (12,600) (2,550) (2,273) (5,117) - (767) (2,028) (3,402) (4,046) |
Transfers in/out £ (2,203) 2,203 10,000 - 10,000 (12,836) (2,836) - 140 - - - - 106 (270) - - - |
Gains/ (Losses) £ 5,759 75,000 - - 80,759 - 80,759 - - - - - - - - - - - |
Balance at 31 March 2023 £ 107,688 319,232 40,000 3,400 |
|---|---|---|---|---|---|---|
| 470,320 | ||||||
| 38,278 508,598 |
||||||
| - 6,434 - 9,803 495 157 254 27 5,780 2,021 - |
Page 27
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
15. Statement of funds (continued)
Statement of funds - prior year (continued)
| Sierra Leone Thailand India - Punjab Uganda UK Fundraising UK Miscellaneous (including discipleship course and coronovirus support) Poland Pakistan India Delhi Total of funds |
Balance at 1 April 2022 £ - - - 548 1,160 1,533 6,221 - 450 22,761 451,828 |
Income £ 563 576 644 2,488 696 1,878 3,885 5,012 - 159,833 297,016 |
Expenditure £ (563) (576) (644) (2,411) (776) (533) (9,576) (4,212) (450) (151,686) (287,261) |
Transfers in/out £ - - - - - 2,860 - - - 2,836 - |
Gains/ (Losses) £ - - - - - - - - - - 80,759 |
Balance at 31 March 2023 £ - - - 625 1,080 5,738 530 800 - |
|---|---|---|---|---|---|---|
| 33,744 | ||||||
| 542,342 |
Page 28
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
16. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Designated funds General funds Restricted funds |
Balance at 1 April 2023 £ 470,320 38,278 33,744 542,342 Income £ - 137,183 159,833 297,016 |
Income £ - 120,922 171,636 292,558 Expenditure £ (4,348) (131,227) (151,686) (287,261) |
Expenditure £ (2,613) (126,224) (175,553) (304,390) Transfers in/out £ 10,000 (12,836) 2,836 - |
Transfers in/out £ (2,177) 2,177 - - Gains/ (Losses) £ 80,759 - - 80,759 |
Balance at 31 March 2024 £ 465,530 35,153 29,827 |
|---|---|---|---|---|---|---|
| 530,510 | ||||||
| Balance at 31 March 2023 £ 470,320 38,278 33,744 |
||||||
| Summary of funds - prior year | ||||||
| Designated funds General funds Restricted funds |
Balance at 1 April 2022 £ 383,909 45,158 22,761 451,828 |
|||||
| 542,342 |
Purpose of restricted funds
Country support - general gifts restricted to that field Child sponsorship - support for children
Feeding programme - to feed children at our schools
UK fundraising - fundraising in the UK for emergency needs anywhere UK miscellaneous - specific gifts for UK needs
Purposes of designated funds
Fixed asset fund - relates to the tangible fixed assets as they are not free available reserves Revaluation reserve - relates to the difference between the market value of the property and historical cost
Europe-UK overhead provision - a fund of £40,000 set aside to cover any emergency overhead costs Legacies - substantial legacies are set aside until the trustees determine how they should be spent Approved projects - money set aside from the general fund for projects approved by the trustees Transfers from restricted funds to the general fund have been made with the donors' consent where the original intended use of the funds is no longer possible.
Page 29
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
17. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 425,155 75,528 - 500,683 |
Restricted funds 2024 £ - 47,045 (17,218) 29,827 |
Total funds 2024 £ 425,155 122,573 (17,218) |
|---|---|---|---|
| 530,510 |
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 426,920 81,678 - 508,598 |
Restricted funds 2023 £ - 49,350 (15,606) 33,744 |
Total funds 2023 £ 426,920 131,028 (15,606) |
|---|---|---|---|
| 542,342 |
18. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,538 (2023 - £3,808). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
Page 30
World in Need International Ltd
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
19. Related party transactions
During the year the charity made the following related party transactions:
Key management personnel
During the year donations received from key management personnel with conditions attached totalled £951 (2023 - £750). During the year donations received from key management personnel without any conditions totalled £Nil (2023 - £10). At the balance sheet date the amount due to/from Key management personnel was £Nil (2023 - £Nil).
Donations received from related parties of key management personnel with conditions attached totalled £1,284 (2023 - £1,980)
Trustee Donations
Donations received from trustees without conditions attached totalled £9,300 (2023 - £18,200) for the year. Other donations received from trustees with conditions totalled £18,670 (2023 - £11,155).
Donations received from related parties of the trustees with conditions attached totalled £9,656 (2023: £9,336).
Daniel Rowe
(Trustee)
A monthly conditional donation of £900 commenced in November 2020 from Daniel Rowe. The purpose of the donation is to help provide funds for administration and will be made monthly up to July 2025 on the basis that Mrs Charlotte Sharp is employed by the charity. The Board Register of related interests and potential conflicts of interest has been updated to reflect this relationship and Daniel Rowe has agreed to withdraw himself from any decision making regarding this employee. At the balance sheet date the amount due to/from Daniel Rowe was £Nil (2023 - £Nil).
Page 31