BULGARIAN SUPPORT FUND
Trustees’ Report for the year ended 30[th] April 2024
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 repairs to the church building, electricity, and transport.. Grants have been made for supplying 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, for teenage camps, for training of ministers, 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 £31,970 during the year (2022-23- £55,656). Grants made during the year amounted to £40,000 (2022-23 - £35,000), leaving undistributed funds on the general account of £89,868 at the end of the year.
Restricted Fund
This represents donations received specifically for support of care homes and foster care for children. No such donations were received during the year.
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 14/12/2024
Charity Name No (if any) BULGARIAN SUPPORT FUND 1054734 Receipts and payments accounts For the period Period start date To from 5/1/2023 ~~ee~~ Unrestricted Endowment Restricted funds funds funds
No (if any) 1054734 CC16a Period end date 4/30/2024 ~~-~~
| Section A Receipts and payments | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted funds |
Restricted funds | Endowment funds |
Total funds | Last year | |||||
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| DONATIONS 24,179 - - 24,179 49,148 GIFT AID DONATIONS 4,196 - 4,196 4,933 INCOME TAX RECLAIMED 1,853 - - 1,853 1,136 INTEREST 1,742 ## ## ## 1,742 439 LEGACY - - - - - - - - - - - - - - - - - - 31,970 - - 31,970 55,656 - - - - - - - - - Sub total- - - - - Total receipts 31,970 - - 31,970 55,656 A3 Payments 40,000 - 40,000 35,000 Sub total(Gross income for AR) A2 Asset and investment sales, (see table). GRANTS MADE TO VARNA BAPTIST CHURCH ~~oeeoe~~ ~~SSS=~~ |
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| - | - | - | - | ||||||
| BANKCAHRGES 96 |
- | - | 96 | 90 | |||||
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| Sub total 40,096 | - | - | 40,096 | 35,090 | |||||
| - - - - - - - - Sub total - - - - - Total payments 40,096 - - 40,096 35,090 A4 Asset and investment purchases,(see table) ~~———_——~~ |
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| Net of receipts/(payments) - 8,126 | - | - | - 8,126 | 20,566 | |||||
| A5 Transfers between funds - |
- | - | - | - | |||||
| A6 Cash funds last year end 97,994 |
- | 97,994 | 77,428 | ||||||
| Cash funds this year end 89,868 | - | - | 89,868 | 97,994 |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees |
Details BUSINESS CURRENT ACCOUNT BUSINESS RESERVE ACCOUNT Liquidity Manager 95 day notice Account Details Details Details Details Signature Total cash funds (agree balances with receipts and payments account(s)) |
tonearest £ tonearest £ 3,111 ## - 36,044 50,712 - 89,868 OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name ANTHONY BRALANT Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liabilityrelates Amount due (optional) |
tonearest £ Endowment funds |
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| to nearest £ Endowment funds |
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| Current value (optional) |
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| When due (optional) |
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| Date of approval |
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| ANTHONY BRALANT | 8/9/2024 | ||
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of On accounts for the year ended Charity no (if any) £0?* IDr¢ 73+ Set out on pages ity'.Ii n.'4I1 I report to the trustees on my examination of the accounts of the above charity ('Ihe Trust") for the year ended Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of roport of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below ') in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examinerfs statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Slgned: Date: Name: Relevant professional qualification(s) or body (if any): Address: IER October 2018
Section B Disclosure Only complete if the examiner needs to highlight matters of concem (see CC32. Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018