## 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:
- 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 14/12/2024
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=~~||||||||||
|-||-|||-|-||||
|BANKCAHRGES
96||-|||-|96||90||
|-||-|||-|-||-||
|-||-|||-|-||-||
|-||-|||-|-||-||
|-||-|||-|-||-||
|-||-|||-|-||-||
|-||-|||-|-||-||
|_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)
~~———_——~~||||||||||
|_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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Endowment
funds|
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||||Current value
(optional)|
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||||Current value
(optional)|
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(optional)|
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||||Date of
approval|
|||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