WALES ROMANIAN AID ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Charity number: 1048844 WALES ROMANIAN AID FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Contents Page Legal and administrative information Report of the management committee Independent examiners report Statement of financial activities Balance sheet Notes forming part of the financial statements WALES ROMANIAN AID Tru5tees' Report foy the year ended 31st March 2024 The Management Committee presents its report and financial statements for the year ended 31st March 2023. Reference and Admlnlstrative Information Charity Name.. Wales Romanian Ald Charity Reglstration Number: 1048844 Registered Office and Operatlonal Address: Tycroes, Maesybont Cross hands Carmarthenshire SA14 7HD Management CommltteelTrustees Mrs Val Newton MBE Mr5 Janlce Speed Mr Bernard Segrave-Daly FCCA Chairman Wales Romania Aid Trustees Report Year Ending 31st March 2024. Wales Roimania Aid continues its vital work of housing and supporting poor families of Eastern Europe. Recovering from Covid and the travel restrictions irnposed, the work of our trust continued quietly but strongly during the year. Two housing projects (extensions) were completed during the year, providing water and electricity connections. As the price of providing Houses for poor families has escalated over the years from initially less than £3,000 to our time it is likely I'.0 be ten or more times that cost, we do not see our ability to raise this level c)f funds. Over all our years we have bought or built over 170 housps for poor farnilies. However, we plan to continue to offer support for the fcimilies we have re-housed with cookers, washing machines, winter fuel, medical costs and food where necessary. There were no incidents reported during the year. We continue to be indebted to Valerie Newton MBE for he.r hard work and dedication in offering help and support to a large number of needy people in Eastern Europe, and our agent Marius Istrate in Romania. Signed airman. Be.rnard Segrave-Daly WALES ROMANIAN AID ST 31 MARCH 2024 Independent examlner's report on the accounts Respective responslbilltles of trustees and examiner The charlty's trustees are responsible for the preparation of the account5. The charitV'S trustees conslder that n audlt Is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an Independent examination is needed. It Is my responsibility to: examine the accounts under Section 145 of the Charities Act. to follow the procedure5 lald down in the general Dlrections Eiven by Ihe Charity Commission (under sectlon 14515llbl of the Charities Act, and to state whether partlcular matters have come to my attention. Basls of Independent examiner's statement My examlnation was carried out in accordance wlth general Directions given by the Charlty Commission. An examination includes a revlew of the accounting records kept by the charity and a comparlson of the accounts presented with those records. It also includes consideratlon of any unusual Items or disclosures In the accounts, and 5eeklng explanations from the trustees concerning any such matters. The procedures undertaken do not provlde all the evldence that would be required in an audit, and consequently no opinion Is glven a5 to whether the accounts present a 'true and falr, view and the report is limited to those mal'ter5 set out In the statement below. Independent examiner's statement In connectlon with my examlnation, no matter has come to my attentlon l. whlch gives me reasonable cause to belleve that In, any material respect, the requirements: to keep accounting record5 in accordance with section 130 of the Charities Act,. and to prepare accounts which accord wlth the accounting records and comply with the accounting requirements of Ihe Charities Act have not been met: or 2. to whlch, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Dls¢losure I was unable to confirm the nature of all expenditure, since a materlal amount of the expenditure was spent in Roman and Kosovo and the receipt5 were in the respective country's language. Carwyn Morgan FCCA, BSC. Ashmole & Co. The Quay Carmarthen SA313LN WALES ROMANIAN AID STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Incoming resources Unrestricted Funds Restricted Funds Total 2024 lotal 2023 Notes Incoining resources from charitable activities Investment intome - bank interest 30,183 165 30,183 165 27,822 35 Total Incoming resources 30,348 30,348 27,857 Resources expended Charitable aclivite5 Governance costs Other resources expended 27,562 564 862 27.562 564 862 50,407 564 .472 Total resources expended 28,988 28,988 50,499 Net loutgolnglllncomlng resources before transfers 1,361 1.361 -22,642 Transfers between funds Net Movement In funds 1,361 1.361 -22,642 Total funds brought forward 17.971 17.971 40,613 Total funds carrlèd forward 19.332 19,332 17,971 None of the charties, activities were dlscontlnued during the perlod. WALES ftOIMANIAN AII) ALANC.E 5HF.r.T AS Af ii MARf,113.024 Unrestricted Restricted Fund5 'lol'al 2024 Notes I:Ixp.d Assets l-ot411 ljmed clSSels Luri'eni As5LJt 20,1)y6 20,096 20,UCI() Tutiil riJri'vi)t J.%ststs 104 l(J4 I,ou C.yisditui'K.' AiiioiJi)t'i falllny duL' wltlilfi oiie yoar k9,392 11),392 11 cJ}I Net r.Iii'yÉint ci4%piovlslons frjf Ilabllltlv.% it nd cli4irgtss N(>t assets Fiinds of the Charlly l-I,lJ71 io 19,392 Unri!strlcl'e(I fijiids Restrlcled luiids Total funds l Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The financial Reporting Standard applicable in the UK and Republic of Ireland,. the requirements of Section 7 Statement of Cash Flows the requirement of Section 3 Financial Statement Presentation paragraph 3,17ldl; the req uirement5 of Section 11 Financial Instrument5 paragraphs 11.41lb), 11.4 Ilc), 11.4 Ilel, 11.4 Ilf}, 11.42, 11.44,11.45, 11.47, 11.481a}liiil, 11,48(al{iv}, 11.481 bl and I1.48lcl,' the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.291a), 12.29lb) and 12.29A; the requirement of Section 33 Related Party Disclosure paragraph 33,7. c) Incomlng 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 is included in income and expenditure account when receivable. d) Resources expended All expenditure is accounted for on an accruals basls. Cost5 incurred have been allocated between direct charitable, support and administrative functions of the organisation. Where such costs 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 ENDED 31ST MARCH 2024 2 TRUSTEES AND STAFF EXPEfiJSES No expen5e5 were paid to tru5lees during the year. Sponsored salaries relates to Marius in Romania. 3 VOLUNTARY INCOME Unrestrlcted Re51rlcted Total Total Funds Funds 2024 2023 Donations 30,183 30.183 27,822 30.183 30.183 27,822 4 ACTIVITIES FOR GENERATING FUNDS Unrestrlcted Funds Re5trlcted Funds Total Total 2024 ZOZ3 Donations and Sponsorshlp Gift Aid 30,183 30,183 27,822 30,183 30,183 27,822 5 ANALYSIS OF CHARITABLE ACTIVITIES Unrestrlcted Funds Re5trlcted Total Total Funds 2024 2023 Sponsored Salaries House Building Chlldrens Holidays Familles Food & Ald Transport 5,1(Y) 5.366 5,100 5,366 3,000 35,729 15,125 1,971 15,125 1,971 8,136 3,542 27,562 27,562 50.407 WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 6 GOVERNANCE COSTS Unrestricted Funds Restricted Funds Total 2024 Total 2023 Audit/accountancy Fee5 504 5(14 504 504 564 7 SUPPORT COSTS Management Flnance Total Other expenses expended 250 612 862 250 612 862 8 PAID EMPLOYEES Staff costs 2024 2023 Sponsored Salaries Employer's Natlonal Insurance costs 5,100 3,000 s,ioo 3,000 The average number of full-time equlvalent employees analysed by functlon. 2024 2023 Charitable actlvltles other - administratlon No employee was pald over £60.000 in a financial year. 9 DEBTORS AND PREPAYMENTS: AMOUNTS FALLING DUE WITHIN ONE 2024 2023 Trade Debtors WALES ROMANIAN AID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 504 504 504 504 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds Total 2024 Tangible a55ets Current assets Current liabilities 20,096 704 20,096 704 19,392 19,392 IZ TAXATION The company is a registered charity and is exempt from corporation tax.