EQUIPE
FINANCIAL STATEMENTS
FOR
31 MARCH 2021
Charity Number 1075156
EQUIPE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
| CONTENTS | PAGES |
|---|---|
| Charity information | 1 |
| Trustees’ annual report | 2 to 4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 to 13 |
Page 1
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CHARITY INFORMATION
Charity number 1075156 Working names Equipe Global New Day International Trustees Mr J S Gasston (Chair) Mrs S Gasston Ms S M Marshall Mr T A Geddes (Appointed 17[th] October 2020) Mr R M Norbury (Resigned 17[th] October 2020) Principal address 2 Sheppard Street Brymbo Wrexham LL11 5FF Independent examiner Luke Howson MAAT Finansure Ltd 2 Sheppard Street Brymbo Wrexham LL11 5FF
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TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities (effective January 2019)” in preparing the annual report and financial statements of the charity.
GENERAL INFORMATION
The charity is an unincorporated association, governed by a declaration of trust dated 24 May 1998.
Trustees
The names of the trustees during the year are listed on page 1. New trustees are appointed by the board of trustees in accordance with the requirements of the trust deed. They serve for an indefinite period.
OBJECTIVES, ORGANISATION AND ACTIVITIES
Objectives
The objectives of the charity are:
-
The proclamation and furtherance of the gospel of God concerning his son Jesus Christ our Lord and the preaching and teaching of the Christian faith.
-
The relief of persons who are in conditions of need, hardship and distress or who are aged or sick.
These objectives are met in a number of ways including:
-
Providing foundational input to help establish churches both nationally and internationally.
-
Providing support to churches and church leaders nationally and internationally through training, equipping and financial assistance.
-
Assisting people in needier areas of the world through development aid.
Each year the trustees review our activities to ensure they continue to reflect our aims. In carrying out this review, the trustees have considered the guidance on public benefit published by the Charity Commission including its supplementary public guidance on the advancement of religion for the public benefit.
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TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MARCH 2021
Organisation
The work of the charity is overseen by the board of trustees, which meets four times a year on average. The trustees have the power to invest the resources of the charity in such assets as they see fit.
Reserving Policy
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level equating to approximately three months’ unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds were maintained above this level throughout the year.
Risk Assessment
The trustees have considered the key operational, financial and strategic risks that have a bearing on the charity. Suitable management information is available to the trustees on a regular basis to monitor these risks, and allow any mitigating action to be taken to address them.
Activities and Achievements
This last financial year (ending March 2021) has been extremely challenging because of the lockdowns – particularly in Uganda.
In Uganda few children have had any schooling, but Equipe has continued to support the children for home tuition or the school to maintain teaching staff and the school conditions laid down by the government.
Travelling restrictions have meant no ministry or school visits in the UK or Uganda. Equipe has continued to support the medical centre in Kalangala and many known contacts who have experienced serious hardships due to lack of work or medical conditions.
Future Plans
Equipe will continue to support the Child Sponsorship program, now working almost entirely in Uganda, and expect to see all children back in school within the next few months. As traveling restrictions are removed ministry trips and school visits will recommence. Following the decision last year to review our giving Equipe has started, and will continue, to expand our giving.
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TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MARCH 2021
REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS
Total income for the year was £45,123 (2020 - £72,377), representing a 38% decrease in income compared to the previous year. The previous year included a one-off donation from New Life Church in Ross-on-Wye for £29,923.
Total expenditure for the year was £40,992 (2020 - £59,383).
The net incoming resources for the year were £4,131 (2020 - £12,994).
At 31 March 2021, the net assets of the charity were £93,932 comprising unrestricted funds of £36,179 and restricted funds of £57,753.
Statement of trustees’ responsibilities
Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that year. In preparing those financial statements the trustees are required to:
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a) select suitable accounting policies and apply them consistently;
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b) make judgments and estimates that are reasonable and prudent;
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c) state whether the policies adopted are in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities (effective January 2019)”, and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
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d) prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue operating.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
This report was approved by the trustees on ………………………………….. and is signed on 28th November 2021 their behalf by:
………………………………
Mrs S Gasston
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit 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;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
……………………………………… Luke Howson MAAT
21st December 2021 Dated: …………………………………….
Finansure Ltd, 2 Sheppard Street, Brymbo, Wrexham, LL11 5FF
Page 6
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STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Totals | Totals | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| Note | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Donations received | 2 | 2,847 | 42,276 | 45,123 | 72,375 |
| ──── | ──── | ──── | ──── | ||
| TOTAL INCOMING RESOURCES | 2,847 | 42,276 | 45,123 | 72,375 | |
| ──── | ──── | ──── | ──── | ||
| RESOURCES EXPENDED | |||||
| Charitable activities | 3 | 3,847 | 37,115 | 40,962 | 59,383 |
| Loss on foreign exchange | 30 | - | 30 | (2) | |
| ──── | ──── | ──── | ──── | ||
| TOTAL RESOURCES EXPENDED | 3,877 | 37,115 | 40,992 | 59,381 | |
| ──── | ──── | ──── | ──── | ||
| NET INCOME FOR THE YEAR | |||||
| BEFORE TRANSFERS | (1,030) | 5,161 | 4,131 | 12,994 | |
| Transfers between funds | (332) | 332 | - | - | |
| ──── | ──── | ──── | ──── | ||
| Net movement in funds | (1,362) | 5,493 | 4,131 | 12,994 | |
| Balances brought forward | 37,541 | 52,260 | 89,801 | 76,807 | |
| ──── | ──── | ──── | ──── | ||
| Balances carried forward | 36,179 | 57,753 | 93,932 | 89,801 | |
| ──── | ──── | ──── | ──── |
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 8 to 12 form part of these financial statements.
Page 7
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BALANCE SHEET
31 MARCH 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| FIXED ASSETS | |||
| Tangible assets | 7 | 82 | 164 |
| ──── | ──── | ||
| CURRENT ASSETS | |||
| Debtors | 8 | 9,622 | 5,097 |
| Cash at bank and in hand | 84,628 | 85,190 | |
| ──── | ──── | ||
| 94,250 | 90,287 | ||
| CREDITORS:amounts falling | |||
| due within one year | 9 | (400) | (650) |
| ──── | ──── | ||
| NET CURRENT ASSETS | 93,850 | 89,637 | |
| ──── | ──── | ||
| NET ASSETS | 10 | 93,932 | 89,801 |
| ──── | ──── | ||
| FUNDS | 11 | ||
| Unrestricted funds | |||
| General reserve | 2,176 | 3,194 | |
| Designated funds | 34,003 | 34,347 | |
| Restricted funds | 57,753 | 52,260 | |
| ──── | ──── | ||
| TOTAL FUNDS | 93,932 | 89,801 | |
| ──── | ──── |
28th November 2021 These financial statements were approved by the trustees on ………………………………….. and are signed on their behalf by:
……………………………..
Mrs S Gasston
The notes on pages 8 to 12 form part of these financial statements.
Page 8
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NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention, and in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities (effective January 2019)”, applicable accounting standards and the Charities Act.
Fund accounting
Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds are funds earmarked by the trustees for the activities carried out in the name of New Day International.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.
The cost of raising and administering such funds are charged against the specific fund. Investment income and gains are allocated to the appropriate fund.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
No amounts are included in the financial statements for services donated by volunteers.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Fixed assets
Assets are capitalised when they cost over £100 and they have a useful life of more than one year. Depreciation is calculated to write down the cost of fixed assets over their expected useful lives at the following rates:
Office and computer equipment - 25% on cost
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NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
2. DONATIONS RECEIVED
| DONATIONS RECEIVED | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts - unrestricted | 1,527 | 1,648 |
| Donations and gifts - restricted | 38,223 | 66,430 |
| Income tax recoverable | 5,373 | 4,297 |
| ──── | ──── | |
| 45,123 | 72,375 | |
| ──── | ──── |
3. COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHARITY’S OBJECTS
| Activity or project | Activities undertaken directly |
Grant funding of activities (note 4) |
Support costs (note 5) |
Total |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Child sponsorship (Africa) | 6,309 | - | 488 | 6,797 |
| ‘Uganda Ross’projects | 4,534 | - | 351 | 4,885 |
| Humanitarian & relief work | 3,223 | 6,600 | 249 | 10,072 |
| Ministry trips & support | 13,900 | 4,232 | 1,076 | 19,208 |
| 27,966 | 10,832 | 2,164 | 40,962 |
Support costs are apportioned to activity according to percentage of direct costs of activities.
4. GRANT FUNDING OF ACTIVITIES
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Grants to other charitable organisations | ||
| - India fund projects | - | 4,203 |
| - Ugandan school | 6,500 | - |
| - Kenyan school | 100 | - |
| Gifts to Individuals | ||
| - Uganda (missions/ministry gifts) | 872 | 900 |
| - UK (ministry gifts) | 3,360 | 2,720 |
| ──── | ──── | |
| 10,832 | 7,823 | |
| ──── | ──── |
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NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
5. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Bookkeeping & accountancy | 1,800 | 2,412 |
| Website expenses | 86 | 85 |
| Subscriptions | 129 | 120 |
| Depreciation | 82 | 82 |
| Bank charges | 317 | 376 |
| Independent examiner’s fee – current year | - | 250 |
| Independent examiner’s fee – previous year | (250) | (50) |
| Other expenses | - | 86 |
| ──── | ──── | |
| 2,164 | 3,361 | |
| ──── | ──── |
6. TRANSACTIONS WITH TRUSTEES
No trustees received any remuneration or benefit from the charity during the year. Neither were there any expenses reimbursed to trustees outside of those directly incurred on behalf of the charity.
7. FIXED ASSETS
| Office and computer equipment £ Cost At 1 April 2020 Additions 12,572 - At 31 March 2021 12,572 Depreciation At 1 April 2020 Charge for year 12,408 82 At 31 March 2021 12,490 Net book value At 31 March 2021 82 At 31 March 2020 164 |
Total £ 12,572 - |
|---|---|
| 12,572 | |
| 12,408 82 |
|
| 12,490 | |
| 82 | |
| 164 |
Page 11
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NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
8. DEBTORS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income tax recoverable | 5,373 | 4,297 |
| Interest free loans | 4,249 | 800 |
| ──── | ──── | |
| 9,622 | 5,097 | |
| ──── | ──── |
9. CREDITORS: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals | 400 | 650 |
| ──── | ──── | |
| 400 | 650 | |
| ──── | ──── |
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 March 2021 represented by: Tangible fixed assets Current assets Current liabilities |
Restricted funds £ - 57,753 - 57,753 |
Unrestricted funds £ 82 36,497 (400) 36,179 |
Total £ 82 94,250 (400) |
|---|---|---|---|
| **93,932 ** |
Page 12
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NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
11. STATEMENT OF FUNDS
| 1 April 2020 | Income | Expenditure | Transfers | 31 March 2021 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| General reserve | 3,194 | 1,862 | (2,548) | (332) | 2,176 |
| Designated funds | 34,347 | 985 | (1,329) | - | 34,003 |
| ──── | ──── | ──── | ──── | ──── | |
| Total unrestricted funds | 37,541 | 2,847 | (3,877) | (332) | 36,179 |
| ──── | ──── | ──── | ──── | ──── | |
| Restricted funds: | |||||
| Africa: | |||||
| - Children fund | 10,133 | 9,894 | (5,696) | - | 14,331 |
| - Uganda Ross fund | 14,332 | 18,154 | (6,107) | - | 26,379 |
| - Feeding programme | - | 70 | (402) | 332 | - |
| - Inverness support | 1,000 | 2,000 | - | - | 3,000 |
| - Other Africa funds | 1,817 | 1,350 | (773) | - | 2,349 |
| Asia: | |||||
| - Philippines fund | 1,143 | - | - | - | 1,143 |
| Papua New Guinea fund | 3,511 | - | (1,000) | - | 2,511 |
| New Life Ross fund | 20,324 | 10,853 | (23,137) | - | 8,040 |
| ──── | ──── | ──── | ──── | ──── | |
| Total restricted funds | 52,260 | 42,276 | (37,115) | 332 | 57,753 |
| ──── | ──── | ──── | ──── | ──── | |
| Total funds | 89,801 | 45,123 | (40,992) | - | 93,932 |
| ──── | ──── | ──── | ──── | ──── |
Designated funds represents funds earmarked by the trustees for the activities carried out in the name of New Day International.
The children fund represents monies received for sponsorship of children in Third World countries, to enable them to go to school, together with funding for related humanitarian aid projects. Currently all the beneficiaries are in the East African countries of Kenya, Tanzania and Uganda.
The Uganda Ross fund is a project in Uganda run by John & Sue Gasston (trustee). Funds are primarily raised in Ross-on-Wye where the Gasstons live half of the year, and the other half of the year they live in Uganda running the projects which include training and school support.
The Inverness support fund (formerly known as the Kenya orphanage fund) represents funds donated from a church in Inverness to support the work of the charity in Africa.
The Africa, India, Philippines and Papua New Guinea funds represent monies earmarked for use in those respective areas in accordance with the objects of the charity.
The New Life Ross fund represents funds raised by the church formerly known as New Life Church in Ross-on-Wye.