## **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: 

- select suitable accounting policies and then apply them consistently; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; 

- 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¢L￿mED
INTEREST
LEGACY
39,489
4,760
1,018
19,828
3.830
858
4￿2D
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 Gon￿rn
(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 follow￿d 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 Se￿lOn 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