BULGARIAN SUPPORT FUND
Trustees’ Report for the year ended 30[th] April 2022
Structure, Governance and Management
The Bulgarian Support Fund was established on the 14[th] day of April 1996 by Declaration of Trust, and is registered with the Charity Commissioners. The continuing Trustees have the power of appointment of Trustees when vacancies arise, and under the terms of the Trust Deed there is to be a minimum of three Trustees at any one time. The Trustees currently serving are as listed in the Trust’s Financial Statements. All the Trustees are fully conversant with the aims and modus operandi of the Trust, and consequently no induction has been undertaken. The Trustees meet annually to review the activities of the Trust and its accounts, and to approve grants, as well as determining the policy of the Trust, and confer regularly during the year. There were no policy changes during the year under review. The Trustees undertake the management of the Trust.
Objects
The objects of the Trust are to hold the Trust fund and its income upon trust to apply them for the relief of poverty and protection of health among the children of Bulgaria, but without limiting the generality of the foregoing by providing support to orphanages, and to advance the Christian religion by establishing and maintaining a church. The Trustees have given due regard to the guidance on Public Benefit provided by the Charity Commission, and are satisfied that the aims of the Charity are for the Public Benefit and that such benefit has been achieved through the grants made during the year.
Activities
Grants have been made during the year towards the cost of improvements to the church building, including audio and video equipment, and replacement of the heating and cooling systems.. Contributions have been made towards the cost of food for the soup kitchen/restaurant area on the ground floor of the building which has been fully fitted out with appropriate food storage, cooking and preparation equipment, and is in regular use with properly trained staff providing food for the poor and the elderly. The building is also being used for regular church services, children and young people’s work, and cultural events, lectures, classes and health clinics.
Grants have also been made towards refugee relief, towards seminars and help for foster care families, and for mission work to students.
Risk Assessment
The Trustees periodically review the risks to which the Trust is subject and have taken all necessary steps to mitigate the risks identified.
Financial Review
Donations and other funds received amounted to £86,847 during the year (2020/21- £24,522). Grants made during the year amounted to £55,000 (2020/21 - £11,000), leaving undistributed funds on the general account of £77,428 at the end of the year.
Restricted Fund
This represents donations received specifically for support of care homes and foster care for children.
Investment policy
The trustees’ policy is to retain funds on deposit account so as to have them available for needs as they arise.
Statement of Trustees’ responsibilities
The Trustees are required under the Charities Act 2006 to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. 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.
This report was approved by the Trustees, and signed on their behalf.
Signed (Trustee) Date A.P. Bralant 14/10/2022
CHARITY COMMISSION FOR ENGLAND AND WALES BULGARIAN SUPPORT FUND 1054734 Receipts and payments accounts CC16a Forthe period from To Section A Receipts and payments Unrestricted lunos Restricted funds Endowment funds Total funds Last year to the noar•6t£ A1 Receipts DONATIONS GIFfAID DONATIOMS INCOME TAX RE¢LmED INTEREST LEGACY 39,489 4,760 1,018 19,828 3.830 858 42D 1.018 11 41,569 41.S89 tota AR) 24Q 86,847 24,522 A2 Assot and Investment sales. (S table). ub tota 86.607 240 86.847 24,S22 A3Pa ments GRANTS W)e rovthNA BAPTIST CHURCH 1.198 BANK CAHRGES 112 Sub total 53.914 55.112 A4 Asset and invtsknent urchas sèe tsbie Sub total 53,914 1.198 55.112 11,044 Net of receip(payMents} AS TransfeTS betsYo8n lunds A6 Cash funds last yèar end Cash funds this yearend 32.693 958 31,735 13,478 44.735 77.428 45,693 77.428 32,215 45.693 CCXX Rl x(x)unts ISS) 1411012022
Section B Statement of assets and liabilities at the end of the period Unrestricted fun(Is to nDare5t£ Re5tricled funds Endowment funds to nearest£ to nearest £ B1 Cash funds BUSINESS CURREKf ACCOUNT 12.029 BUSINESS RESERVEACC(WNT 65,399 Total cash funds 77,428 vl(sll Unrestrlcted fund$ to nvar•5t£ Restrl¢t8d funds to nèare5t£ Ertdowm•nt funds to thè¥$t£ 82 Other monetary assets Fund to whkh Cc6tlopbonall Currvnt valuo B3 Inwstm•nt assets Fund towhi¢h CoK¥tlokknnall Current value onal B4 Assats ratained for thg charity's own use FurKI towhlch Amountduo When due bonal BS Liabilitie5 SKJneAJ by one or trustee5 on behav of all Ihe trnstees SwJnature PrNrt Name Dat8 of approval 14110tt022 AMTrIONY BRALANT ALLAN SIMMONS CCXX R2 arujunts ISSI 1411012022
Section B Disclosure Only complete if the examiner needs to highlight material matters of Gonrn (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Glve here brief details of any items that the examiner wishes to disclose. IER Oct 2018
(HARITY COMMISSION FOR ENGLAND ANO WAIES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteosl members of BULGARIAN SUPPORT FUND On aGGounts for the year ended 30° April 2022 Charity no (if any) 1054734 Sot out on pages I report to the trustees on my examination of the accounts of the above charity {'the Trusf) for the year ènded 3010412022 Responsibilities and basis of report As the chanty's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acr}. I report in respect of my examination of the Trust's acmunts carried out under section 145 of the 2011 Act and in carying out my examination, I have followd all the applicable Diredions given by the Charity Commission under section 145{5)(b) of the Act. Independent I have completed my examination. I confimi that no material matters have examinerfs statsment come to my attention in connection with the examination (other than that disclosed below") which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance Mth SelOn 130 of the Chartties Ad,. or the accounts did not accord wth the accounting records." or the accounts did not comply with the applicable requirements onceming the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connertion 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. . Please delete the wtxds in the brackets rfthey do not apply. Signed: Date: Name: Relevant professional qualification(s) or body lif any): Address: IER Oct 2018