EQUIPE
FINANCIAL STATEMENTS
FOR
31 MARCH 2024
Charity Number 1075156
EQUIPE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
| 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 12 |
Page 1
EQUIPE
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 | |
| Mr P J I Lowther (Appointed 25 June 2023) | |
| Mr A N White (Appointed 23 April 2024) | |
| Principal address | 2 Sheppard Street |
| Brymbo | |
| Wrexham | |
| LL11 5FF | |
| Independent examiner | Luke Howson MAAT |
| Finansure Ltd | |
| 2 Sheppard Street | |
| Brymbo | |
| Wrexham | |
| LL11 5FF |
Page 2
EQUIPE
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 March 2024. 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:
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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.
Page 3
EQUIPE
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MARCH 2024
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
Another busy year supporting projects and people that we have been working with over the years.
We continue to take the Gospel to parts of East Africa on Tanzania, Kenya and Uganda through personal visits and radio programs. This year has also seen 3 podcasts released on YouTube.
We maintain the very important work of helping children get an education through the Child Sponsorship scheme. Schools are visited twice a year to ensure the children are attending and to gather information to send to the sponsors.
We also get called on to help financially in emergency or unexpected circumstances. These are usually of a medical nature where money is needed for medicines or operations.
Where we are based in the Sesse Islands the people are poor and do not have the resources to help themselves, so where we are able we try to provide for them.
We welcomed a small team from the UK in March who visited 4 different schools where we have sponsored children, as well as other projects that Equipe is involved with.
Equipe has continued to experience generous donations from supporters. No child sponsors have been lost this year.
The support from Inverness will be phased out next financial year.
Page 4
EQUIPE
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MARCH 2024
A new nursery school in Lutoboka (where the ferry docks) has been added to our list of schools we support. This has been helped by the generosity of the team members who came to visit Uganda in March.
We have maintained support in the Eunice clinic and various other medical needs in Nendha. Mission work has continued in East Africa with support from the NDI fund.
As the projects Equipe is involved with grows we need to ensure the financial support to cover these is available. We are looking to establish Equipe ambassadors (with the help of the Trustees) who will be responsible for fund raising in UK.
Future Plans
To continue to help those (in whatever arena) who cannot help themselves, through careful monitoring. To be ready to share the Gospel wherever God leads us.
Report of the Chair of Trustees
Since our AGM last spring Equipe has continued to serve the East African community with child sponsorship, medical assistance, aid for the needy and mission outreach.
At the end of 2023 both Sue and myself were experiencing frequent minor ailments caused by fatigue having over exerted ourselves. We made a conscious effort not to fill the diary for 2024 unless something was necessary for the charity or God directed us, we needed time to regain our strength.
All the important stuff was of course attended to as normal.
It is becoming clear that we can’t do it all and that we need practical support if Equipe is going to continue.
We welcome James Lowther and Andrew White as new trustees from CLC Ross and look forward to their input for helping us move forward.
We have achieved much but there is still much to do, there are endless opportunities to do more.
John Gasston
Page 5
EQUIPE
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MARCH 2024
REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS
Total income for the year was £39,246 (2023 - £36,092), representing a 9% increase in income compared to the previous year.
Total expenditure for the year was £44,450 (2023 - £50,070). The main areas of expenditure were the Uganda Ross projects £20,274 & child education fees £10,936.
The net outgoing resources for the year were £5,204 (2023 – net outgoing resources £13,978).
At 31 March 2024, the net assets of the charity were £71,692 comprising unrestricted funds of £26,548 and restricted funds of £45,144.
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:
-
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;
-
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 22nd June 2024 their behalf by:
----- Start of picture text -----
………………………………
----- End of picture text -----
Mr J Gasston (Chair)
Page 6
EQUIPE
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 7 to 13.
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;
-
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
-
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:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
• 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.
……………………………………… Dated: ……………………………………. 31st July 2024 7 Luke Howson MAAT
Finansure Ltd, 2 Sheppard Street, Brymbo, Wrexham, LL11 5FF
Page 7
EQUIPE
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
| Unrestricted | Restricted | Totals | Totals | ||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Donations received | 2 | 3,081 | 36,106 | 39,187 | 35,485 |
| Investment income | 59 | - | 59 | - | |
| Other income | - | - | - | 607 | |
| ──── | ──── | ──── | ──── | ||
| TOTAL INCOMING RESOURCES | 3,140 | 36,106 | 39,246 | 36,092 | |
| ──── | ──── | ──── | ──── | ||
| RESOURCES EXPENDED | |||||
| Charitable activities | 3 | 4,091 | 40,359 | 44,450 | 50,070 |
| ──── | ──── | ──── | ──── | ||
| TOTAL RESOURCES EXPENDED | 4,091 | 40,359 | 44,450 | 50,070 | |
| ──── | ──── | ──── | ──── | ||
| NET INCOME FOR THE YEAR | |||||
| BEFORE TRANSFERS | (951) | (4,253) | (5,204) | (13,978) | |
| Transfers between funds | 3,330 | (3,330) | - | - | |
| ──── | ──── | ──── | ──── | ||
| Net movement in funds | 2,379 | (7,583) | (5,204) | (13,978) | |
| Balances brought forward | 24,169 | 52,727 | 76,896 | 90,874 | |
| ──── | ──── | ──── | ──── | ||
| Balances carried forward | 26,548 | 45,144 | 71,692 | 76,896 | |
| ──── | ──── | ──── | ──── |
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 9 to 13 form part of these financial statements.
Page 8
EQUIPE
BALANCE SHEET
31 MARCH 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | 7 | 4,541 | 12,640 |
| Cash at bank and in hand | 67,551 | 64,656 | |
| ──── | ──── | ||
| 72,092 | 77,296 | ||
| CREDITORS:amounts falling | |||
| due within one year | 8 | (400) | (400) |
| ──── | ──── | ||
| NET CURRENT ASSETS | 71,692 | 76,896 | |
| ──── | ──── | ||
| NET ASSETS | 9 | 71,692 | 76,896 |
| ──── | ──── | ||
| FUNDS | 10 | ||
| Unrestricted funds | |||
| General reserve | 3,071 | - | |
| Designated funds | 23,477 | 24,169 | |
| Restricted funds | 45,144 | 52,727 | |
| ──── | ──── | ||
| TOTAL FUNDS | 71,692 | 76,896 | |
| ──── | ──── |
These financial statements were approved by the trustees on ………………………………….. 22nd June 2024 and are signed on their behalf by:
……………………………..
Mr J Gasston (Chair)
The notes on pages 9 to 13 form part of these financial statements.
Page 9
EQUIPE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
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
Page 10
EQUIPE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
2. DONATIONS RECEIVED
| DONATIONS RECEIVED | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts - unrestricted | 1,261 | 1,012 |
| Donations and gifts - restricted | 33,305 | 30,882 |
| Income tax recoverable | 4,621 | 3,591 |
| ──── | ──── | |
| 39,187 | 35,485 | |
| ──── | ──── |
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 2024 |
Total 2023 |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Child education (Africa) | - | 10,410 | 526 | 10,936 | 8,252 |
| ‘Uganda Ross’projects | 18,862 | 437 | 975 | 20,274 | 20,346 |
| Humanitarian & relief work | 5,843 | - | 295 | 6,138 | 4,387 |
| Ministry trips & support | 3,000 | 3,760 | 342 | 7,102 | 17,085 |
| 27,705 | 14,607 | 2,138 | 44,450 | 50,070 |
Support costs are apportioned to activity according to percentage of direct costs of activities.
4. GRANT FUNDING OF ACTIVITIES
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grants to other charitable organisations | ||
| - Philippines fund (UK) | - | 1,136 |
| - Ugandan schools | 10,847 | 7,307 |
| - Kenyan schools | - | 523 |
| Gifts to Individuals | ||
| - Uganda (missions/ministry gifts) | 300 | 3,526 |
| - Kenya (ministry gifts) | 100 | - |
| - UK (ministry gifts) | 3,360 | 3,759 |
| ──── | ──── | |
| 14,607 | 16,251 | |
| ──── | ──── |
Page 11
EQUIPE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
5. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Bookkeeping & accountancy | 1,800 | 1,800 |
| Website expenses | 111 | 135 |
| Subscriptions | 145 | 145 |
| Bank charges | 82 | 276 |
| Trustee meeting expenses | - | 202 |
| ──── | ──── | |
| 2,138 | 2,558 | |
| ──── | ──── |
6. TRANSACTIONS WITH TRUSTEES
Mr & Mrs Gasston received £3,000 (2023 - £5,250) in ministry support remuneration from the charity during the year in their ministry roles in Uganda. These payments were agreed by the other trustees in the absence of Mr & Mrs Gasston.
7. DEBTORS
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income tax recoverable | 4,326 | 8,613 |
| Interest free loans | 215 | 4,027 |
| ──── | ──── | |
| 4,541 | 12,640 | |
| ──── | ──── |
Page 12
EQUIPE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
8. CREDITORS: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals | 400 | 400 |
| ──── | ──── | |
| 400 | 400 | |
| ──── | ──── |
9. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 March 2024 represented by: Current assets Current liabilities |
Restricted funds £ 45,144 - 45,144 |
Unrestricted funds £ 26,948 (400) 26,548 |
Total £ 72,092 (400) |
|---|---|---|---|
| **71,692 ** |
Page 13
EQUIPE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
10. STATEMENT OF FUNDS
| 1 April 2023 | Income | Expenditure | Transfers | 31 March 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| General reserve | - | 1,879 | (2,138) | 3,330 | 3,071 |
| Designated funds | 24,169 | 1,261 | (1,953) | - | 23,477 |
| ──── | ──── | ──── | ──── | ──── | |
| Total unrestricted funds | 24,169 | 3,140 | (4,091) | 3,330 | 26,548 |
| ──── | ──── | ──── | ──── | ──── | |
| Restricted funds: | |||||
| Africa: | |||||
| - Children fund | 22,458 | 11,014 | (10,410) | (1,101) | 21,961 |
| - Uganda Ross fund | 16,942 | 17,592 | (19,789) | (599) | 14,146 |
| - Inverness support | 4,100 | 1,600 | (2,200) | (160) | 3,340 |
| - Other Africa funds | 3,699 | - | - | (990) | 2,709 |
| New Life Ross fund | 5,528 | 5,900 | (7,960) | (480) | 2,988 |
| ──── | ──── | ──── | ──── | ──── | |
| Total restricted funds | 52,727 | 36,106 | (40,359) | (3,330) | 45,144 |
| ──── | ──── | ──── | ──── | ──── | |
| Total funds | 76,896 | 39,246 | (44,450) | - | 71,692 |
| ──── | ──── | ──── | ──── | ──── |
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 Herefordshire 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 funds represent monies donated 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.