WALES ROMANIAN AID ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023 Charity number: 1048844 WALES ROMANIAN AID FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 Content5 Page Legal and administrative information Report of the management committee Independent examlners report Statement of financial activities Balance Sheet Notes forming part of the financial statements WALES ROfrAANIAN AID Tru5tees' Report for the year ended 31st March 2023 Thè M3ftagement CnmmittÈe prÈsÈnts its report and fin3ncial statements for the vear ended 31st March 2023. Reference and Admlnistrative Informatlon CharSty Name.. Wales Roménlan Aid Charity Registration Number- 1048844 Registered office and Operatlonal Address.. Tycroes, Mae5ybont Cr05s hands Carmarthenshire 5A14 7HD Man38ement Commlitee/Trustees Mrs Val Newton MBE Mrs JanSee Speed Mr Bernard Segrave-Daly FCCA ChaSiman WALES ROMANIAN AID ST 31 MARCH 2023 Independent examlner's report on tho accounts Respectlve responslbilltles of trustees and examiner The charity's truslee5 are responsible for the preparation of the accounts. The charity'5 tru5tee5 COF15ider that an audit is not required for thi5 year under section 144 of the Charities Act 2011 Ithe charities Act) and that an independent examlnatlon Is needed. It is my responsibility to.. examine the accoiints under sertion 145 of the Chartties Act, to follow the procedure5 laid down in the general Directions glven by the Charity Commission lunder 5ectlon 14515llbl of the charities Act, and lo stale whether particular matters have come to my attention. Basls of Independenl examiner's statement My eKaminatiori was carried out in accoidance with Eeneral Dlrections glven by the Charlty Commlsslon. An examlnation Includes a review of the accounting records kept by the charity and a comparI50n of the accounts presented with those records. It also include5 consideration of any unusual Items or dlsclosures In the accounts, and seeking explanations from the trustee5 concerning any such matters. The procedure5 undertaken do not provSde all the evldence that would be required in an audit, and consequently no opinion is given a5 to whethér the atcounts presènt a'true and falrf view and the report 15 limited to those matters set out in the statement below. Independent examiner's statement In connectlon with my examination, no matter has come to my altention l. which gives me reasonable cause to believe that in, any rraterial respect, the requlrements.. to keep accounlin8 record5 in accordance with section 130 01 the Chafltie5 Act,. and to prepare accounts which accoTd with the accounrlng records and comply wlth the accounting requirements of the Charitle5 Act have nut been met,. or 2. to which, in my opinlon. attentlon should be drawn in order lo enable a proper understandlng of the accounts to bÈ reached 01￿105ure I was unable to conflrm the nature of all expenditure, slnce a maierial amount of the expendlture was spent In Roma and Koso o and Ihe recelpts were In the respective countrV5 language. Carwyn Morgan FCCA, BSC. Ashmole & Co. The Quay Carmarthen SA313LN WALES ROMANIAN AID STATEMENT OF FINAhfCIAL AcfiviTIES FOR THE YEAR ENDED 31ST MARCH 2023 Incomlng resource5 Unrestrlcted Funds Aestrlcted Funds Total 2023 Total 2022 Notes Incoming resources from charltable activltles Inve5tmeat income- bank Interest 27,822 35 27,822 35 S3.158 24 Total incoming resources 27,857 27,857 53,182 RÈsourcÈs expended Charitable activites Governance cost5 Other resources expended 50,407 564 -472 SO,407 564 -472 42,886 492 1.816 Total resources expended 50,499 50.499 4S.194 Net l0ut8olngllincomlng resources Iith¢re tYan5fer5 -22,642 -22.642 7.988 Transfers between funds Net Movement In funds -22,642 -22,642 7.988 Total fund$ kTrrought forward 32.625 32,625 23,277 Total funds carrlpd forward 9.984 9,984 31,265 None of the companys, activities were discontinued duringthe pedod. WALES ROMANIAN AID BALANCE SHEET AS AT 31 MARCH 2023 Unrestricted Funds Restrlcted Funds Total 2023 Total 2022 Notes rixed A5setS Tangible Assts Total fl¥ed assets Current A55et5 Debtors Cash at bank and in hand 4,209 37,396 Total current assets 41,605 CreditOfS.' Amounts falling due wlthin one yèar 992 Net current assetsllllabllitiesl 40,613 Total assets less currènt Ilabllltles 40,613 Credltors: Amounts falllng due over one year Provlslons for Ilabllities and charges Nèt assets 40,613 Funds of the Charity Unrestricted funds Restrlcted funds io 32,625 Total funds 32,625 For the year In questlon, the charltable company was entitled to exemption from an audit under section 477 of the Companies Act 2006. The members have not required the charltable company to obtain an audit of its accounts for the year In question in accordance with section 476 of the Act. The trustees/director5 acknowledge thelr responsibllitles for complylng wlth the requlremenls of the Companles Act 2006 wlth respeci to accountlngrecords and the preparation of accounts. ON BEHALFOFTHE BOARD.. DirectOT/trusteè Dale WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31ST MARCH 2023 I ACCOUNTING POLICIES al Attounting basls The financial statements of the charitable company, which is a public benefit entity under Fris 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective l January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historlcal cost convention. bl Financial reporting standard 102- reduced dlsclosure exemptlons The charity ha5 taken advantage of the following disclosure exemptions in preparing these financial statement5, as permitted by FRS 102 'The financial Reporting Standard applicable in the UK and Republic of Ireland,. the requirements of Section 7 Statement of Cash Flows the requirement of Section 3 Financial Statement Presentation paragraph 3.17ldl: the requirements of Section 11 Financi31 Instruments paragraphs 11.41lbl, 11.41lcl, 11.41lel, 11.411fl, 11.42, 11.44,11.45, 11.47, 11.481alliii}, 11.48lallivl, 11.48lbl and 11.48lcl,' the requirements of Section 12 Other Financial Instrument5 paragraphs 12.26, 12.27. 12.291al, 12.29lbl and 12.29A- the requirement of Section 33 Related Party Disclosure paragraph 33.7. c) Incoming resources il Voluntary income Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resource. ill Investment income Bank interest received 15 included in income and expenditure account when receivable. d) Resources expended All expenditure is accounted for on an accruals ba515. Costs incurred have been allocated between direct charitable, supporl and administrative functions of the organi5ation. Where such c05t5 relate to more than one function cost category they have been split on an appropriate basis. WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDÉD 31ST MARCH 2023 2 TRUSTÉES AND STAFF EXPENSE5 No expenses were paid to trustees during the year. Sponsored salaries relates to Marius in Romania. 3 VOLuwfARY INCOME Unrestrlcted Funds Restrlcted Total Total Funds 2023 2022 Donation5 27,822 27,822 49,516 27,822 27,822 49,516 4 ACTIVITIES FOR GENERATING FUNDS Unrestrlcted Restrfcted Funds Total Total Funds 2023 2022 Donatlons and Sponsorshlp GSft Ald 27,822 27.822 49,516 3,642 27,822 27,822 53,158 5 ANALYSIS OF CHARITABLE ACTIVITIES Unre5trl¢ted Restrlcted Total Total Funds Funds 2023 20ZZ Sponsored Salaries House Building Children5 Holidays Familles Food & Aid Transport 3,000 35,729 3,000 35,729 3,300 27.592 1,800 8,691 1,503 8,136 3,542 8,136 3,542 50,407 50,407 42,886 WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 6 GOVERNANCE COSTS UnrestrScteiJ Funds Restrlcted Funds Total 2023 Total 2022 Auditlaccountancy Fees 564 564 492 564 564 492 7 SUPPORT COSTS Management Flnance Total Other expense5 expended 460 -932 -472 460 -932 -472 8 PAID EMPLOYEES staff costs 2023 2022 Sponsored Salaries Employer's National Insuran￿ costs 3,000 3,300 3,C>0O 3,300 The average number gf fulktlme equSvalent employees analysed by function. 2023 202Z Charitable activities Other- administration No employee was paid over £60,OOD in a finanaal year. 9 DEBTORSAND PREPAYMENTS: AMOUNTS FALLING DUE WITHIN ONE 2023 2022 Trade Debtors 4,203 4,203 WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Aceru3I5 504 492 504 492 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restrlcted Funds Funds Total 2023 Tangible assets Current as5et5 Current liabilities 18,975 1,004 18,975 1,004 17,971 17,971 IZ TAXATION The company is a registered charity 2nd is exempt from corporation tax. ## **. Wales Romania Aid Trustees Report 2022/23** Despite the presence of Covid for the past two years, the work of our Trust has continued strongly. The main constraint has been the ability to travel freely and safely. Sadly, we were unable to organise our annual children’s holidays, a much appreciated tonic in their difficult lives. Two more houses were completed during the year in Romania at a cost of £27,500 and some additional costs were incurred to complete another house in Kossovo built last year. Since the inception of Wales Romania Aid in 1991 we have purchased or built 167 houses for homeless families. We continue to support very many disadvantage families with food, firewood electric and gas bills, fridges and cookers. In the light of the Russian invasion of the Ukraine and the number of refugees living in West Wales, there has been some expenditure on providing food, clothes and support for family outings for children being housed in Wales. We are very grateful to Valerie Newton for her dedication and hard work in relieving the poverty in Eastern Europe and Wales. Val has just completed her 200[th] humanitarian trip to the several countries of Eastern Europe. We are also most grateful to our many regular supporters and donors for providing the funds for carrying out this vital work. Our sponsored Agent in Romania controls the distribution of finances of our house building projects and our welfare programme. We are happy to report that there were no incidents reported during the year. Signed Bernard Segrave-Daly Chairman of Trustees 4[th] March 2024 WALES ROMANIAN AID ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023 Charity number: 1048844 WALES ROMANIAN AID FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 Content5 Page Legal and administrative information Report of the management committee Independent examlners report Statement of financial activities Balance Sheet Notes forming part of the financial statements WALES ROfrAANIAN AID Tru5tees' Report for the year ended 31st March 2023 Thè M3ftagement CnmmittÈe prÈsÈnts its report and fin3ncial statements for the vear ended 31st March 2023. Reference and Admlnistrative Informatlon CharSty Name.. Wales Roménlan Aid Charity Registration Number- 1048844 Registered office and Operatlonal Address.. Tycroes, Mae5ybont Cr05s hands Carmarthenshire 5A14 7HD Man38ement Commlitee/Trustees Mrs Val Newton MBE Mrs JanSee Speed Mr Bernard Segrave-Daly FCCA ChaSiman WALES ROMANIAN AID ST 31 MARCH 2023 Independent examlner's report on tho accounts Respectlve responslbilltles of trustees and examiner The charity's truslee5 are responsible for the preparation of the accounts. The charity'5 tru5tee5 COF15ider that an audit is not required for thi5 year under section 144 of the Charities Act 2011 Ithe charities Act) and that an independent examlnatlon Is needed. It is my responsibility to.. examine the accoiints under sertion 145 of the Chartties Act, to follow the procedure5 laid down in the general Directions glven by the Charity Commission lunder 5ectlon 14515llbl of the charities Act, and lo stale whether particular matters have come to my attention. Basls of Independenl examiner's statement My eKaminatiori was carried out in accoidance with Eeneral Dlrections glven by the Charlty Commlsslon. An examlnation Includes a review of the accounting records kept by the charity and a comparI50n of the accounts presented with those records. It also include5 consideration of any unusual Items or dlsclosures In the accounts, and seeking explanations from the trustee5 concerning any such matters. The procedure5 undertaken do not provSde all the evldence that would be required in an audit, and consequently no opinion is given a5 to whethér the atcounts presènt a'true and falrf view and the report 15 limited to those matters set out in the statement below. Independent examiner's statement In connectlon with my examination, no matter has come to my altention l. which gives me reasonable cause to believe that in, any rraterial respect, the requlrements.. to keep accounlin8 record5 in accordance with section 130 01 the Chafltie5 Act,. and to prepare accounts which accoTd with the accounrlng records and comply wlth the accounting requirements of the Charitle5 Act have nut been met,. or 2. to which, in my opinlon. attentlon should be drawn in order lo enable a proper understandlng of the accounts to bÈ reached 01￿105ure I was unable to conflrm the nature of all expenditure, slnce a maierial amount of the expendlture was spent In Roma and Koso o and Ihe recelpts were In the respective countrV5 language. Carwyn Morgan FCCA, BSC. Ashmole & Co. The Quay Carmarthen SA313LN WALES ROMANIAN AID STATEMENT OF FINAhfCIAL AcfiviTIES FOR THE YEAR ENDED 31ST MARCH 2023 Incomlng resource5 Unrestrlcted Funds Aestrlcted Funds Total 2023 Total 2022 Notes Incoming resources from charltable activltles Inve5tmeat income- bank Interest 27,822 35 27,822 35 S3.158 24 Total incoming resources 27,857 27,857 53,182 RÈsourcÈs expended Charitable activites Governance cost5 Other resources expended 50,407 564 -472 SO,407 564 -472 42,886 492 1.816 Total resources expended 50,499 50.499 4S.194 Net l0ut8olngllincomlng resources Iith¢re tYan5fer5 -22,642 -22.642 7.988 Transfers between funds Net Movement In funds -22,642 -22,642 7.988 Total fund$ kTrrought forward 32.625 32,625 23,277 Total funds carrlpd forward 9.984 9,984 31,265 None of the companys, activities were discontinued duringthe pedod. WALES ROMANIAN AID BALANCE SHEET AS AT 31 MARCH 2023 Unrestricted Funds Restrlcted Funds Total 2023 Total 2022 Notes rixed A5setS Tangible Assts Total fl¥ed assets Current A55et5 Debtors Cash at bank and in hand 4,209 37,396 Total current assets 41,605 CreditOfS.' Amounts falling due wlthin one yèar 992 Net current assetsllllabllitiesl 40,613 Total assets less currènt Ilabllltles 40,613 Credltors: Amounts falllng due over one year Provlslons for Ilabllities and charges Nèt assets 40,613 Funds of the Charity Unrestricted funds Restrlcted funds io 32,625 Total funds 32,625 For the year In questlon, the charltable company was entitled to exemption from an audit under section 477 of the Companies Act 2006. The members have not required the charltable company to obtain an audit of its accounts for the year In question in accordance with section 476 of the Act. The trustees/director5 acknowledge thelr responsibllitles for complylng wlth the requlremenls of the Companles Act 2006 wlth respeci to accountlngrecords and the preparation of accounts. ON BEHALFOFTHE BOARD.. DirectOT/trusteè Dale WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31ST MARCH 2023 I ACCOUNTING POLICIES al Attounting basls The financial statements of the charitable company, which is a public benefit entity under Fris 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 1021 leffective l January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historlcal cost convention. bl Financial reporting standard 102- reduced dlsclosure exemptlons The charity ha5 taken advantage of the following disclosure exemptions in preparing these financial statement5, as permitted by FRS 102 'The financial Reporting Standard applicable in the UK and Republic of Ireland,. the requirements of Section 7 Statement of Cash Flows the requirement of Section 3 Financial Statement Presentation paragraph 3.17ldl: the requirements of Section 11 Financi31 Instruments paragraphs 11.41lbl, 11.41lcl, 11.41lel, 11.411fl, 11.42, 11.44,11.45, 11.47, 11.481alliii}, 11.48lallivl, 11.48lbl and 11.48lcl,' the requirements of Section 12 Other Financial Instrument5 paragraphs 12.26, 12.27. 12.291al, 12.29lbl and 12.29A- the requirement of Section 33 Related Party Disclosure paragraph 33.7. c) Incoming resources il Voluntary income Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resource. ill Investment income Bank interest received 15 included in income and expenditure account when receivable. d) Resources expended All expenditure is accounted for on an accruals ba515. Costs incurred have been allocated between direct charitable, supporl and administrative functions of the organi5ation. Where such c05t5 relate to more than one function cost category they have been split on an appropriate basis. WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDÉD 31ST MARCH 2023 2 TRUSTÉES AND STAFF EXPENSE5 No expenses were paid to trustees during the year. Sponsored salaries relates to Marius in Romania. 3 VOLuwfARY INCOME Unrestrlcted Funds Restrlcted Total Total Funds 2023 2022 Donation5 27,822 27,822 49,516 27,822 27,822 49,516 4 ACTIVITIES FOR GENERATING FUNDS Unrestrlcted Restrfcted Funds Total Total Funds 2023 2022 Donatlons and Sponsorshlp GSft Ald 27,822 27.822 49,516 3,642 27,822 27,822 53,158 5 ANALYSIS OF CHARITABLE ACTIVITIES Unre5trl¢ted Restrlcted Total Total Funds Funds 2023 20ZZ Sponsored Salaries House Building Children5 Holidays Familles Food & Aid Transport 3,000 35,729 3,000 35,729 3,300 27.592 1,800 8,691 1,503 8,136 3,542 8,136 3,542 50,407 50,407 42,886 WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 6 GOVERNANCE COSTS UnrestrScteiJ Funds Restrlcted Funds Total 2023 Total 2022 Auditlaccountancy Fees 564 564 492 564 564 492 7 SUPPORT COSTS Management Flnance Total Other expense5 expended 460 -932 -472 460 -932 -472 8 PAID EMPLOYEES staff costs 2023 2022 Sponsored Salaries Employer's National Insuran￿ costs 3,000 3,300 3,C>0O 3,300 The average number gf fulktlme equSvalent employees analysed by function. 2023 202Z Charitable activities Other- administration No employee was paid over £60,OOD in a finanaal year. 9 DEBTORSAND PREPAYMENTS: AMOUNTS FALLING DUE WITHIN ONE 2023 2022 Trade Debtors 4,203 4,203 WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Aceru3I5 504 492 504 492 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restrlcted Funds Funds Total 2023 Tangible assets Current as5et5 Current liabilities 18,975 1,004 18,975 1,004 17,971 17,971 IZ TAXATION The company is a registered charity 2nd is exempt from corporation tax.