PRA ICAL COMPASSION FOR DESTITUE CHILDREN RED CHARITY NO: 1076 REGI FINANCIAL STATEMENTS FOR THE YEAR ENDE 31ST AUGUST 2024 Members of the Institute of Financial Accountants 51 Slabon Road | Forest Hali | Newcastle upon Tyne | NE12 8AQ 1. 0191266 0033 F. 01912661NJ44 E.. service@dfwaoLounlancy.com DRWAS Limit&l TIA DRWAccounlancy ServKes Co. Reg. No. 09511353 VAT No. r20 8E4131 PRACTICAL COMPASSION FOR DESTITUTE CHILDREN TR TEE ANNUAL REPORT HE ENDED 31AUG ST 2024 la. We present our annual report wlth the accounts for the above year, REFERENCE AND ADMINISTRITIVE D We are a Registered Charity (No 10765881 and continue to operate succe55fully under the term5 of our trust deed dated 22nd November 1998. Our Bankers are: Barclays Bank PLC, Leicester, LE87 2BB. HSBC, 2-6 Gallowtree Gate, Lelcester, LEI IDA and the Cooperative Bank PLC, PO Box 101, Balloon Street, Manchester, M60 4EP. We appoint solicitors as necessary. OBJECTS AND POLICIES Our objects continue to be for the rellef of chlldren under the age of 18 years, (or in exceptlonal circumstances, young people over 18 but under 251, living In the land5 of the Bible, who are destltute through the death of one or both parents, or have been abandoned by thelr relatlves, throu8h family breakdown, illness, or physical mental handicap, and are in the care of Christian homes or attending Chrlstlan schools. Our pollcles to achieve our objects continue to be:. l. To raise funds and Invite and receive contributions. 2. To co-operate wlth other bodles operatlng In furtherance of the objects or of slmllar charitable purposes and to exchange Information and advlce wlth them. 3. To establlsh or support any charitable trusts, assocSation5 or Institutlons formed for the objects or any of them. 4. To appoint and constltute such advlsory commlttees as the trustees may thlnk flt. 5. To delegate to any of the trustees the transaction of any bu51ne55 or the performance of any act required to be transacted or performed in the execution of the trusts of PCL)C and whlch Is withln the professlonal or business competence of such trustee {s), provided that the trustees shall exercise reasonable supervlslon over trustee (s} actlng on their behalf under this provlslon and shall ensure that all thelr acts and proceedin85 are fully and promptly reported to them. 6. To do all such other lawful thlngs as are necessary for the achievement of the oblects. We refer to Charlty Commlsslon suldance on Public Benefit when revlewln8 our alms and objectives, and ensure that future plans remain focused on thelr achlevement, Funding limlts our actlvltles, but no beneflclarles appropriate to our aims are excluded. Equal acce5S to our servlces Is Important to us, and we promote understanding of our work. VERNANCE AND MANA EMENT TRucfuRE Trustees The Trustees during the year were: Rev.M.S.Jones, J.P.Kenyon, , J.A.Shave. 8.McNamara, and R.Hill. All trustee5 give their time voluntarily and recelve no beneftt. Recrultment and Appolntment of Trustees The Trustees seek to ensure that the userfs needs are reflected through the diverslty of the trustee body. To enhance the potential pool of Trustees, selected individuals who may wlsh to become Trustees are approached as necessary. Trustees are re-appointed annually. All concerned give their tlme voluntarily and recelve no benefit. Trustee Inductlon and Tralnlng New Trustees are actively encouraged by the existin8 Trustees, havin8 regard to any speclallst skills required. New Trustees are brlefed on thelr obllgations under charity law, our Trust deed, the Committee and the decision-making process, future plans and recent performance. They are encouraged to attend appropriate training, and made aware of Charity Commission Publications. Feedback is encouraged. ..Continued PRACTICAL COMPASSION FOR DESTITUTE CHILDREN TRUSTEES ANNUAL REPORT R THE YeAR ENDED 31 AUGusf 202 RE GOVERNANCE AND MANAGEMENT {Continued} Risk Management We have assessed land revlewed regularly) the major risks to which we are exposed, in partlcular those related to our operations and finances, and are satlsfied that systems are In place to mitlgate our exposure. No major risks have been identified. A key elernent in our management of financial rlskls the settSng and regular review of our Reserves policy. RESERVE5 POUCY 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 actlvlties be urtailed. Free reserrfes decreased from £117,461 to £67,596 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 sufflclent free reserves to ensure financial flexibility over the course of the forthcomln8 challenges. EVELOPMENT AcfiviTIES ND ACHIEVEMENTS In the year we have ralsed of £112,661, ( To date. slnce commencement, In excess of £2,934,000) We are continuln8 to work for the welfare of our sponsored chlldren and their destitute or broken families, including medical treatment, and practlcaS help for dlsadvantaged chIld￿n Ilvln8 In poverty. NANCIAL REVIEW Our assets continue to be adequate and available to fulfil our obll8atlons, as detailed in these flnanclal statements. FU RE DEVELOPMENTS We contlnue to strive to malntaln the necessary hlgh level of our award-wlnnln8 asslstance. TATEMENT F TRUSTEES RESPON IBILITI Law appllcable to charltles In England & Wales requires us to prepare financial statements for each flnanclal year whlch give a true and fair vlew of our flnancial activities durin8 the year and of our flnanclal posltlon at the end of the year. In preparing financlal statements glving a true and falr vlew, we should follow best practice and: select suitable accountin8 pollcles and then apply them consistentlyj 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 dlsclosed and explained In the financial statements. prepare the financial 5tatement5 on the golng concern ba51s unless It is Inapproprlate to presume that we wlll contlnue In operatlon. We are responsible for keeping accountlng records which disclose with reasonable accuracy our financial position and whlch enable us to ascertaln our financial posltlon and which enable us to ensure that the financlal statements comply wlth applicable law. We are also responsible for safeguarding our assets and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Slgned Ib. Slgned Rev. .S.Jones stee 25 February 2025 J Kenyon Trustee 25 February 2025 PRAcficAL COMPASSION FOR DESTITUTE CHILDREN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes INCOME FROM: Donations and Legacles Donatlons Recelved Ilnc Gift Aid clalm) Miscellaneous 112,661 108,218 TOTAL INCOME 112,661 108,218 EXPENDITURE ON: Operatln8 Expendlture 162,526 142,004 OVE ENT IN FL 149,8651 {33,7861 Funds Brought Forward 117,461 151,247 Funds Carrled For¥vard 67,596 117,247 None of our artlvltles were acqulred or dlscontinued and there We￿ no reco8nlsed galns or lo55e5 Other than as shown above durin8 the above two financlal years. The notes on page 5 form part of these accounts. PRAcn MPAS R DESTIT AT 31 AUGUST 2024 FIXED ASSET5 CURRENT Assm Glft Ald Clalm Due 15,246 bank Deposlt Account.. CCLA Bank Current Accounts: Barclays 51,573 68,333 HSBC 877 49,488 Co-op 260 67.956 117,821 CREDITOLI Amounts Becomini Oue And Payable Wlthln One Year., Aterued Charges 360 360 NET CURRENT ASSEfs 67.596 117.461 TOTALASSEfs LESS CURREKf LIABIUTies 67,596 117,461 ACCUMUIATED VNREsTricfED FUNDS Total Funds 67,596 117,461 Appro￿￿. Appravod.. Rev.M.SJo Trustee J Kenyon Trustree Thesé flnanclal statements were authorised for Issue by the Managemènt Commlttee on P. The notes on page S form part ol these accounts. qA MPA NFORD ST TE CHILDREN DETAILED STATEMENT OF FINANCIAL AcfiviTIES IN DING INCOME AN IT ACC FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 INCOME FROM: Donations Recelved 112,661 108,218 Interest Recelved 112,661 108,218 EXPENDITURE ON: Support for Oestltute Chlldren and Youn8 People 159,464 139,623 TravellSng Expenses 330 1,493 Prfntlng and Statlonary 35 Webslte & Software 1,546 Bank Charges 751 493 Accountancy Fees 360 350 Sundry/Mlscellaneou5 75 162,526 142,004 ov NTIN 149,8651 133,786} Total Funds Brought Forwards 117,461 151,247 Total Funds Carried FonNard 67.596 117.461 None of our artlvlties were acqulred or dlscounted and there were no reco8nlsed galns or losses other than as shown above durlng the above two financlal years. The notes on pa8e 5 form part of these accounts. PRAcficAL COMPASSION FOR DESTITUTE CHILDREN NOTE5 TO ACCOUN R THE YEAR ENDED 31 AUGUST 2 24 Basls of Accountln The prlnclpal accountlng pollcles adopted and judgements made in the preparation of the flnancial accounts are: e. The financial accounts have been prepared in accordance with Accountin8 and Reportin8 by Charitie5: Statement of Recommended Practice applicable to charitie5 preparln8 thelr accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) {effective l January 2015)- Icharities SORP {FRS 102) ), and the Financial Reportin8 Standard applicable In the UK and Ireland (FRS102). f. As we meet the definitlon of a publlc benefit entity, assets and liabilities are initially recognlsed at hlstorical cost or transaction value, unless otherwlse stated. All Income Is Included In the statement of Flnanclal Actlvities when we are entitled to the Income and the amount can be quantifled wlth reasonable accuracy. The following speclflc pollcies are applled to particular categories of Income.. Income recelved by way of Donatlons, Legacies etc Is Included in the Statement of Financlal Actlvltles when recelvable. Where entltlement 15 not Condltlonal on the dellvery of a speclflc performance by ourselves, monles are recognised when we become uncondltSonally entltSed to them. Monies related to performance and specific deliverables are accounted for as we earn the right to consideratlon by our performance. Income from Investments Is Included when recelved, The value of seNlces provlded volunteers has not been Included In these accounts. Expenditure is recognised on an accruals basis, Includln8 VAT. It comprfses those costs incurred In the delivery of our activitles and services. It includes both costs that can be allocated to such actlvltles and those costs of an indirect nature necessary to support them. ATIO As a Registered Charity, we have no liability to taxatlon. 3,NET MOVEMENT IN NDS 202 Thls Ss stated after chargin8: Staff Costs Trustees Remuneration