PRACTICAL COMPASSION FOR DESTITUE CHILDREN REGISTERED CHARITY NO: 1076588 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 /}?/ Members of the Institute of Financial Accountants
PRAcficAL COMPASSION FOR DESTITUTE CHILDREN TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31AUGUST 2023 la. We present our annual report with the accounts for the above year. REFERENCE AND ADMINISTRITIVE DETAILS We are a Registered Charity (No 1076588) and continue to operate successfully under the terms of our trust deed dated 22nd November 1998. Our Bankers are: Barclays Bank PLC, Leicester, LE87 2BB, CCLA Investment Management Limited, Senator House, 85 queen Street, London, EC4V 4ET, HSBC, 2- 6 Gallowtree Gate, Leicester, LEI IDA and the Cooperative Bank PLC, PO Box 101, Balloon Street, Manchester, M60 4EP. We appoint solicitors as necessary. OBJEcfs AND POLICIES Our objects continue to be for the relief of children under the age of 18 years, (or in exceptional circumstances, young people over 18 but under 25), living in the lands of the Bible, who are destitute through the death of one or both parents, or have been abandoned by their relatives, through family breakdown, illness, or physical mental handicap, and are in the care of Christian homes or attending Christian schools. Our policies to achieve our objects continue to be:. l. To raise funds and invite and receive contributions, 2. To co-operate with other bodies operating in furtherance of the objects or of similar cliaritable purposes and to exchange information and advice with them. 3. To establish or support any charitable trusts, associations or institutions formed for the objects or any of them. 4. To appoint and constitute such advisory committees as the trustees may think fit. 5. To delegate to any of the trustees the transaction of any business or the performance of any act required to be transacted or performed in the execution of the trusts of PCDC and which is within the professional or business competence of such trustee (s), provided that the trustees shall exercise reasonable supervision over trustee (s) acting on their bel)alf under this provision and shall ensure that all tkieir acts and proceedings are fully and promptly reported to them. 6. To do all such other lawful things as are necessary for tlie acliievement of the objects. We refer to Cliarity Comrnission guidaiice on Public BeiiLfit Ivlien reviewing our aims and objectives, and ensure tliat future plans remain focused on tlieir acliieveinent. Funding limits our activities, but no beneficiaries appropriate to our aims are excluded. Equal access to our services is important to us, aiid we promote uiiderstanding of our work. STRucfuRE GOVERNANCE AND MANAGEMENT Trustees Tlie Trustees during tlie year were: Rev.M.S.Jones, J.P.Kenyon,, J.A.Shave, B.McNamara, H.Ince(resigned 23, May 2022), A.McNamara (resigned 2. March 2023) and R.Hill. All trustees give tlieir time voluiitarily and receiiie no benefit. Recruitment and Appointment of Trustees Tlie Trustees seek to ensure that the userfs needs are reflected through the diversity of the trustee body. To enhance the potential pool of Trustees, selected individuals who may wish to become TrLJStees are approached as necessary. Trustees are re-appointed annually. All concerned give their lime voluiitarilii and receive no benefit. Trustee Induction and Training l*eiv Trustees are actiiiely encouraged by the existing Trustees, having regard to any specialist skills fL'quired. Nleiv Trustees are briefed on their obligations under charity law, our Trust deed, the Coifftfiiillee dnd the decision-maliing process, future plans and recent performance. Thei/ are ESl£Q&iiJiee li? diiend appropriate training, and made aware of Charity Commission Publications. 1&go6L%iat 1115 encouraEed. ..Continupd
PRAcficAL COMPASSION FOR DESTITUTE CHILDREN TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2023 STRucfuRE GOVERNANCE AND MANAGEMENT (Continued) Risk Management We have assessed (and reviewed regularly) the major risks to which we are exposed, in particular those related to our operations and finances, and are satisfied that systems are in place to mitigate our exposure. No major risks have been identified. A key element in our management of financial risk is the setting and regular review of our Reserves policy. RESERVES POLICY Free reserves are those funds not tied up in Fixed Assets or Designated/Restricted Funds. We forecast the level of reserves required to sustain operations, should income-generating activities be curtailed. Free reserves decreased from £151,247 to £117,461 during the year, however considerable amounts are already earmarked for immediate use. Whilst the current level of reserves may prove sufficient, it is our view that it is prudent to ensure that there are sufficient free reserves to ensure financial flexibility over the course of the forthcoming challenges. DEVELOPMENT ACTIVITIES AND ACHIEVEMENTS In the year we have raised of £108,218, ( To date, since commencement, in excess of £2,822,200) We are continuing to work for the welfare of our sponsored children and their destitute or broken families, including medical treatment, and practical help for disadvantaged children living in poverty. In October and November 2022, we conducted a visit to see our beneficiaries which underlines our commitment as a person-centred child focussed charity. Ib. FINANCIAL REVIEW Our assets continue to be adequate and available to fulfil our obligations, as detailed in these financial statements. FUTURE DEVELOPMENTS We continue to strive to maintain the necessary high level of our award-winning assistance. STATEMENT OF TRUSTEES RESPONSIBILITIES Law applicable to charities in England & Wales requires us to prepare financial statements for each financial year which give a true and fair view of our financial activities during the year and of our financial position at the end of the year. In preparing financial statements giving a true and fair view, we should follow best practice and: select suitable accounting policies and then apply them consistently. make judgements 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 the going concern basis unless it is inappropriate to presume that we will continue in operation. We are responsible for keeping accounting records which disclose with reasonable accuracy our financial position and which enable us to ascertain our financial position and which enable us to ensure that the financial statements comply with applicable law. We are also responsible for safeguarding our assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed Signed ev.M.S.Jones Trustee 22" July 2024 J Kenyon Trustee 22" July 2024
PRACTICAL COMPASSION FOR DESTITUTE CHILDREN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes INCOME FROM: Donations and Legacies Donations Received Miscellaneous 108,218 145,980 TOTAL INCOME 108,218 145,980 EXPENDITURE ON: Operating Expenditure 142,004 136,925 NET MOVEMENT IN FUNDS (33,786) 9,055 Funds Brought Forward 151,247 142,192 Funds Carried Forward 117,461 151,247 None of our activities were acquired or discontinued and there were no recognised gains or losses other than as shown above during the above two financial years. The notes on page 5 form part of these accounts.
PRAcficAL COMPASSION FOR DESTITUTE CHILDREN BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 FIXED ASSETS Nll CURRENT ASSETS Gift Aid Claim Due 8,177 Bank Deposit Account: CCLA Bank Current Accounts: Barclays 68,333 96,659 HSBC 49,488 24,251 Co-op 22,520 117,821 151,607 CREDITORS: Amounts Becoming Due And Payable Within One Year: Accrued Charges 360 360 NET CURRENT ASSETS 117,461 151,247 TOTAL ASSEfs LESS CURRENT LIABILITIES 117,461 151,247 ACCUMULATED UNRESTRicfED FUNDS Total Funds 117,461 151,247 Approved: Approved: .S.Jones Trustee J Kenyon Trustree These financial statements were authorised for issue by the Management Committee on 22nd July 2024. The notes on page 5 form part of these accounts.
PRACTICAL COUMPASSION FOR DESTITUTE CHILDREN DETAILED STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 INCOME FROM; Donations Received 108,218 145,980 Interest Received 108.218 145,980 EXPENDITURE ON: Support for Destitute Children and Young People 139,623 134,191 Travelling Expenses 1,493 1,747 Printing and Stationary 35 Bank Charges 493 625 Accountancy Fees 360 350 Sundry/M15cellaneous 12 142,004 136,925 NET MOVEMENT IN FUNDS (33,786) 9,055 Total Funds Brouglit Forwards 151,247 142,192 Total Funds Carried Foi-ward 117,461 151,247 None of our activities were acquired or discounted and there were no recognised gains or losses other than as shown above during the above ttvo financial years. The notes on page 5 form part of these accounts:
PRACTICAL COMPASSION FOR DESTITUTE CHILDREN NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 I.ACCOUNTING POLICIES Basis of Accountin The principal accounting policies adopted and judgements made in the preparation of the financial accounts are: c. The financial accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102) ), and the Financial Reporting Standard applicable in the UK and Ireland (FRS102). d. As we meet the definition of a public benefit entity, assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated. Income All Income is included in the statement of Financial Activities when we are entitled to the Income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of Income: Income received by way of Donations, Legacies etc is included in the Statement of Financial Activities when receivable. Where entitlement is not conditional on the delivery of a specific performance by ourselves, monies are recognised when we become unconditionally entitled to them. Monies related to performance and specific deliverables are accounted for as we earn the right to consideration by our performance. Income from Investments is included when received. The value of services provided volunteers has not been included in these accounts. Ex enditure Expenditure is recognised on an accruals basis, including VAT. It comprises those costs incurred in the delivery of our activities and services. It includes both costs that can be allocated to such activities and those costs of an indirect nature necessary to support them. 2.TAXATION As a Registered Charity, we have no liability to taxation. 3.NET MOVEMENT IN FUNDS 2023 2022 This is stated after charging: Staff Costs Trustees Remuneration