Charlty rnglstrntion ntsmb•r 1076936 THE PHILADELPHIA TRUST IN EASTERN EUROPE ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE PHILADELPHIA TRUST IN EASTERN EUROPE LEGALAND ADMINISTRATIVE INFORMATION Trn#te• K Bathvin M Bartlett R Brind D Ford B Jenkins (An 24 Marth 2023) A Sarm P Thomas {Arwinted 1 O¢tobor 2022) Charity numb•r (ApFKxnt8d 24 Marth 2023) 1076936 PrInPaI addr• 13 CkJs Enfys Caerphdly CF83 ISB Independ•nt examln•r ART Ats))untants Limi Grwnd Fknr 11 Manvers Street BA1 1JQ Bankern Uoyds Bank pfc 31 Ien Street Cardrfr CF102AG
THE PHILADELPHIA TRUST IN EASTERN EUROPE CONTENTS Stsiement offinan¢ial acvrt Bdanc sl Notes to the fina[[ semnts 6-13
THE PHILADELPHIA TRUST IN EASTERN EUROPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The finandal stat8monts ha baon prepa in wlh the a¢?ntij pK4kies set out in not8 1 to thè flnan¢ial 8tatemgnts CoMY wilh the Charitys Tmst Deed. the Charfties Act 2011 and 'Aonting and Reporting by Chartties.. Stslement of Re(#)nned Praclica applicat4e to charitle5 preparing their accounts in aeL#Jrdan(% vrith the Financid RepJthvJ Stsndard apKIat48 in the UK and Republic of IrelaThJ IFRS 102). (effectiv8 1 January 20191. ObJxtlvM and actlvltloB To organlse and dribUte mat8rfal 8kl to ChlIanS thcts In Mod arthj EaBtem EunJp8. To supwt Blbl8 T8achB operatN thr[whrt aThl Eastem Ew. To 8UPKrt èvangellsm thrort c aiKI Ea8twn Europe in ts nY f5 that it takes. To SLWPOrt oth8r acti¥lUes tho TrLthes shau deem to be tr the of the Gosw kn Central and Eastem Europe. Thé tnJst8es h8Vo paid duo regard to gUanCe iswJ by the Chwity Cc#nThi85AM in da¢•Jing ¥knal acbvlbes Chartty should utxlertake. Achlev•mont• and p•rfornnce The Charfvs incom8 is d6rN¢d frtvn gifLs recei¥ from Chur&. AssemtAi98 and oth&r Charftat48 Organisatirms. No mrw wfil bo recmd by arry wblic apFwI. Thg Twsl has not trd in anyway during 2022. Currenly the Trust868 a four pers who havg retThl frc¥n paid wniAoyment and are now 8erving th& Lord. t% who are in paid en7ploymont and ono who 15 at CoU8ge. Tha ayn of all the trustees is to ensure that the objeth aThlAthvlties ofTh8 Trust aro ftifiifed. The trustees a minimum cl 4 nwtiry eath yg8r. Tr m8effThJ W In January Is con&dgreil to be the Annual General Meeung. M88ting may be hdd in or 19 a fa(ilty suth as z( whare in pen meetings are not POS8ible. The meetirvJ Wd In the nM)nth of SeptwnbwKkXcthr lo rpy1 the 8ctsvlti88 of the Trust during the Trustees are also in regular eac ottw (m w a)¢ ba8i 4 aTrJ when Iha naed aiiw. DLOng the year the 2022 this l)a8 bgon very froquant kn to war sbAJn in Ukraing. Flnancl41 r•TA•w The attached sl8te the in(x)Thp al è¥pendrture of the TnJsL The Irusle88 arg plèased to plac& on Tgcord the faithftln88s of the Lord in enabliw them to continue the ofts Tnl Dudng thg year 2022 many Chrithn charitsb ouses e supported that operate thrgh0 Central and Eastern Europ8 lo the sum of £330.613. Of this sum £326,310 was sent to Ukraino or to the T1$ trusted c workers who operate Ukraln8. £6fyJ was s8nl to trkKwy. £1.1th wa$ Sent to Pcrf aThJ £2.703 to those who support centr and E8Stem Europ&gns. 11 1$ good to roport a 8ub3tantial incrpage in of thè during 3)22. The is prtmarily du8 to thg d88ir8 of Indlviduals, Churches, A88emb1 and oltw charitab TrLts to supwt th8 n8eds of Ukraine followng the outbreak of war on the 24 Febwary 2022. Ch8riUes Incoma rw during 2022 £23.604 in 2021 to £360 304 in 2022. It is unlikely that thi5 level of in(xJn* WNI be sustained for c¢xning years twJt th8 trustees Ik to the Lord to $upply the ne&ls ofthose tho1 Ihey seek to FAWPrt The annual ovgrtwds of th8 trust an¥JJnt to £11.195. In k> trms £8.66S was paid as traling eXSe8 10 trustw and k) Ihos8 Supporting the th of the Charity. Th8re wa$ one addltknn oxpense Of£5,7 kn the Chaiity a nLrmber ofpwe so that they were abla 10 8ttend thfy Intsmationa Corrfww anarKJe eath year. Th18 y6ar nTh)st of the 8UPPOrt was ft Ukrainlans.
THE PHILADELPHIA TRUST IN EASTERN EUROPE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 AJI ol the reciplents of girls arg krY to the trusta05 armj have eittw been Ttj or invil&J to (x)m8 lo UK to report on their acbvitie& Structur•. gov•rn•nc• and mnagom•nt Th8 Chartty was estalshd on 10th October 1998 arKI Is regred Ylh the Charity Commk88KJn No. 1076936. Th& Charity 18 an unlnc1Jrat9d bcrfty whose ¥8mlg b(>ty is a Trust DW. The TNstoes belie that they p058es$ the necessary physical heath and strer, spijitijal aptitude. rplevt experie. tima and anergy for tho moInentatIon of the Wicres aThJ the smcth running ofthe acbviw ofthe TnL Th8 trusteeg 8eNed yearal up lo th& date ofsignabjre oflhe finaniial StateMts we. K Baldwin M Bartlett INwointed 24 March 20231 R Brind D Ford B Jenkins Forr A Samu P Thomas Z Whiteh (Apwiited 1 (knthr 20221 {ApwMnted 24 Marth 2023) When tt b0ThS apparent that • naed through age. Illness, fvrther dev¥opment of the a¢tNits&s of the Trust or any other cause is Ilkely to arise, steps aTU taken to appoint an additi Trustee the rfght qualitle5. 8bilittèS expsrience and time. the aim Ing to maintsin a balance of mabjrity, professronal skills. Chrisltan maturity and knowledge of apprDprlate Christian througw Central and Easlem Europè wthich mtqht benefft the help that the Trust is ab16 to prov¥Jg. The apwnlmgnt Is mat1e by ncvninatim of anots trustee and the sècondirKJ of another trustee. Eath new trustee Is made awar8 of the Trust Ij and given a ¢pY rA thè acc¥)unts. PvbJl¢ nefft The Trustèes havè famillarised tSve$ Thlth arKI whleayJr to keep unrler an thè m8ndatory and "good practice. qUirements Ihal are pubshed by the Charity Commission from time to time. induding PUtle Benefft Guidance. They wsider that the actrvib88 undtake by the T1 were in dyect fijrtherw of its tharitie purp0908 for the t*nefit The trust8es' report w8¥ approved by ofTNstse& P Thomas
THE PHILADELPHIA TRUST IN EASTERN EUROPE INDEPENDENT EXAPAINER'S REPORT TO THE TRUSTEES OF THE PHILADELPHIA TRUST IN EASTERN EUROPE I r8FMJrt to the tnjstees crt) my examin8th)n of the fin481StaMe of Th8 PhIph9 Trust In Eas1 Europe (the Charity) for th& year ended 31 Dember 2022. R•spon81bllltl•• and ba¥ls of rw>ort the requirernts of the Chaithaspd 2011 {tr 2011 Act). l report in reSFrt of my examinalion ofthe Charws finanrl m8nts (Mjt und•r 8e(lion 145 crf the 2011 Act. In ¢arryiTrJ ¢)ut my examlnallon I have frjlmd all aptlkbl& gp40n by Charity COMMIOn under srttion 145(5llb) of the 2011 Since Chatys gros8 irK))r eX08d £250,CW oklner bo a nrnb9r of a tody listed in Secdon 145 of the 2011 ACL I C(rM that l am qUlfied to uake Ihe exam1tM)n be(uso l am a member of the Your attenllon is drawn to the fact that the ¢harfty has prepared financwl statwnents in 8cc(danee th Acrounting and Reporbn9 by Charibes prBparing th&r accthnb the FinwKial ReF#Nting Standard applble In ts UK and RepU1C of Iroland IFRS 1021 to th8 Accounting arKI Rekwtsng by Chartlies.. Statsmant of Recommonded Practrcg i5su&J on 1 2Crf)5 Vltiith 15 reteffwj to Its oxtarrt T8ati hgs b8en Ihdravm. l understand that this has beén dcne in rsiler for financi ststarrMts tr> WOVK a an(1 falr vi8w in acoxdancè th GenwdlyAcceptedAco)unlw¥ Pr¥ke efffjdr for rBpytiry bryiming on or after 1 January 2015. examin8tion gNFng me tsuse to Wieve that in Y materi respoct accounting records re not kept in rg¥rt crf Charity as rgquired by 130 olthe 2011 . or the fln8ndal statsments do not a)r ith tt)osg rwds: r the financl81 st8t8ments do Tr)t L>)rn Mil) applicablg requrrements cerning th& fom and conlenl of accwnts set fyjt In the Chaiibos lAClnts aThJ Rep} Regulations 2tJ)8 other than any requirement that the 8cc¢yJnts give a true aj fairviww is rxA a matter (%msitl as part of8n irKpeThlont examlnation. should b6 drawn in this reFQrt in ordgr to enabte a proper ofthe finanod atnts to b8 rethd. Ilr P J Barton FCCA ART Accountants Umlt Ground Flc)r 11 Manvws Street BA1 1JQ [ LOZ3
THE PHILADELPHIA TRUST IN EASTERN EUROPE STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 lund¥ 2022 fvnds Totsl fvnd¥ 2021 2021 2021 Donations arhj lega(ies Investrnents 21.627 338.659 3eo.286 18 18 11.4( 12.195 23,601 T¢Aal Income 21.645 338.659 360,304 11.409 12,195 23,804 ndmu Charttable activ8$ 16.928 , 356.893 4.779 16,559 21,338 Not Incom1•xpodI1urn) for th• ywrl Net mov•ment In funds 4.717 11.Xffj) 3.411 {4.3641 2.266 Fund balances at 1 2022 26,319 11.538 37,857 19.689 15.902 35.591 Fund balanc0$ at 31 D•¢emb•r 2022 31.036 10.232 41,268 26.319 11.538 37.857 Tha ststgment of finan¢ial &tNII lYK4ude5 all gans armj Ios8es r•xwJni•J In the yew. l income and expd d¢rive from ac88.
THE PHILADELPHIA TRUST IN EASTERN EUROPE BALANCE SHEET AS A T 31 DECEMBER 2022 2022 2021 Curr•Trt •S8ots Cash at bank and In hand 41.988 37.857 Crlt0. amounts falllng du• wlthln on• year 10 (720) Net ojrrgnl assets 41.268 37.857 Incom• fund8 Restricted fund8 Unr•8tricted fvnds 11 10232 31.036 11.538 26,319 41,268 37.857 The financial stslements We aFryXDved by the Tru5t8es on ......................... R8rin
THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2022 A¢countlng P1¢• Charlty Inform0 The PhadelphIa Tn In Eakn EurDpe ¢ an Unl[xa TtK>se w4wning trtxly 18 a Tw$1 Doad.. 1.1 Accountlng conv•ntlon The financial statements been prepared In accordanc wilh the Charrvs tgovemirwJ drmentI, thg Charities Act 2011. FRS 102 The Financial Standard apF4icable In the UK Republic of Ireknd. rFRS 102.1 a1 the chareS SORP 'AccoJrfirvJ and ReFNting by Chanties.. Ststsment of Recomrrthded Pracb'eg apltIO lo charitias preparirwj theK a(vJunLy in aQXxda with thè Finanwl RetKrtrng StarKlard applicable in the UK and Rewt4ic of IrelaThJ {FRS 102)" leff&#p 1 January 2019). Th8 Charity is a Publlc Benefft Entity as defiwj by FRS 101 The Chaiity has tsken of the Ixo¥ishM in ts SORP kn ¢tharib not to proparo a Statement of Cash Aows. The finan(aal slatements Ilepted from the Cttaribes {AcCnts and ReKM)rts) Regulatior 2008 only to thg extent roquired to provide a true arKI fair vithv. This d8partyre h83 illvLknd k41owing thg Statoment of RecommeThJed Practi¢e for c1will appmng FRS 102 rather than the Tri0 of the Stslem8nl of RecoMwed Pracdce whth 1$ referred to in thg Reg(dati$ but has since been wrthdrawn. The flnanckl slatements are prepared in sEerfirwJ. i8 the fvrthrfwl c( the Charity. Monatsry anTh)unts In tW finarhid statements are rndJ to the west L Ides odopt8d aro 88t (Krt bekxf. 12 Golng concern Al the h.me of approving the finano¥l statemts, Ihg trustees have a rBagMaNo exp¥Aabtin Ihat the Charlty has adequate T8%rCeS to tymtinue in for fmeeatAe future. Thus th6 truslèes ntinue to adw the ¢n basis cé accountirg in preparwvj tha finaniial statements. 1.3 Charllbl• funds UnreStricj fuNI8 are avallablg for at the trustees in furtherance their tharllable objectives. Ra8lrictèd funds arè wjbjèct to ¢>)r)dTtions ty as to they may bo us8d. Tho purpow and Endowwt fvnds arB suw to specik thiliLTh by that the must be maintsln8d by the Charity. 1.4 Ineom• Incorne is recogni the Clkglity is 1894ly to il after Fthnce have be8n mec the amounts can be Thwured rdialty. a1 trt 18 wrknble that irK(rfno will b8 rgcthd. of the don8tion. unl888 wfwmance ¢onditk)ns reqLtirv deferlal of the amount IrKM• tax rgcov8rablè in relatson to donations wivwj under GIftAKI ty d88ts ofcovenant Is reojgniwl at the timè ofth8 donalion. Lega¢48s awe relgnI rnc8¢ or othgwso If the Charity has te8n nottfi&J of an impendrTrJ dislribulion. the arnounl is known, and Tlpt L8 extKc8(J. 11 the arr#yJnt 18 not kntr. the legacy is treatsd 8S 8
THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 A¢Munttng polld (C¢)ntlnu•d) 1.5 ExPditUr• ExpendltsJr8 Is roc)grMsed onc• theT8 * a legal c ¢x>n8tsuctFve obJp3atk)n to tr8nsfer economic benefft to a third p8ty, it is probable that a transfer of bènefrts Will b9 required in setUemeM, and the arTrJunl of the thlvJation (sn b& Mg88ud lbly. ExperKliknre is ¢Jasstfied by &livity. Th8 >S19 of are mad¢ up of thg total of dirgct costs and shared costs. indudlThJ SUPF¥Yt costs invdved in ur#Yertakkng èach a&Mty. fts thbutsNe to a slngle actthty are Bllocat•Y directy to that •¢bty. Shar&J ctriAt9 to more than on8 athty and support costs wthlch aro not attriWable to 8 singlo are tetwe8n thosa 8diviti95 on a ba8iS cyJnsislent th the u8e of r9$Jrrth. Central staff txEts ar• on Ihe lS of timg span( and depreciation charges are dk¥ted on of thè a88efs u8& 1.6 Cash and ca$h oqulval•nts Cash and cash oquiv8nts incJde c88h In h, dèkX)%ts hdd at C811 vthh banks. other short.term liquid investments vrilh ginal matuwilies r# three or1958. bank t7¥wdrafts. Bank overdrats are shown thin borrwrgs in fAwrerrt li8bililie 8ask flnanekl assots Basic financial assets. [¢ti Ind8 debt0 8nd txsh arKI bank balances, are initlally measured at transaction price indudirvj transact costs and are subs8quenty carried at anTh)rbsed cost U81ny the offeclfve Intsrest methcAI un18ss ts wrangement a finan(irrfJ transacbon. whgro the Ir&rK8aetion r8 measured at the pr¢88nl v4u8 crf the kn lpts dis¢ounW al a market rate of Inter Fina•1 assets Baslc fln•n¢tsl llablllU•s Bastc firtan(¥al Ilabiliues. IrjUd1rrfj bank loan8 are inrtwly rw)JgTh88d gt transactlon prke unle8$ the arrangem¢nl a finanw transaetion, the debt instrument Is rnured al the presant V8luo of the fubjro payments dlsownbj at a mothot rats of intwest Financid Ib&bS1ilies dasslfied as payabla vlthin ¢Me year a not aThytls. Debt instrumonts are at c4)sL the ¢ffth test rate meihc#l. Trad8 ¢AitOTS are obltgations to pay for gc¥>d8 cr wviix that habp au]uir8d in the (Inary courne of oper81ions from 8upk4iers. Anmxjnts pays9 are daSSi as gjrwt ILaLYlib8s rf paymant is due within (Me yg8r or less. If noL they are prgsentsd as nOr(Jt lia1[0$. Trade c¥8ditors are rectgniseil inthally Bt Der•eognlllon of fln•nclalllabllltl•s Fin¥ncial liabilities are dere{xJgni kn the Clwilys ewre or are dl8charg&J or c8nc811¢d. 1.7 Employ b•n•fft• The Ct of any unus•J i8 TwJniwJ in tho pw)d in Tfvthich the eMpl'S services arg we1V1. to tewminala the ofan emfv or to kyovkle t8rrninat nefits.
THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2022 In the applirabon of th8 Charws a(XXnng the trustè8$ aT8 to makg j(tyJgements, estimates and assumptions about the ling amunt of a$sets and liabiliiies that 8re not Teadily apparent from other Bources. The estimates and aswed assumptK)n5 are based on historical exkCe and othef f8¢aors that are conshlergd to b8 rd8vanL A¢lu81 results may differ from th8so estimat&s. The estimates and Undorfn9 as8ump1l are revi8d ¢xwng basis. ReviSS to WX4xJnling 88mateS are reccgni$8d in the p8rKJ in th6 6stimata is revi*Y ¥there the levisK Bffarts onty that Feriod, or in the porkxj of the remsion aThJ future PWKKIS Ihe revisicffl affects both IxJrr8nt and future
THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 fund• funds Inter88t Tecewble 18 Grants payabl• Ml•sl?nary Mlsslonary support ¥upport 2021 Grants to Insbtutscs and Indmduals.. Cntry SupFQrt- Hungary County Support. Pc4and C(KJntry SuprKJrt- Ukralne 1.0(Ml 326.310 2.703 9.Q40 116 330.613 10,OS6 Support co•ts Support Go¥•manc• costs Admlnistration cctsts Trnvel costs Inlemation81 conf8renc• Prlnting. postage and 8tal¢)nery 11.195 11.195 953 3,1fj4 6.015 3,164 6,015 5.700 1.1XI 1.150 Independent ex8minatK 720 25,560 720 11.282 11.282 Analysed Charltat48 a1 25.560 720 11,282 11,282 None of tho tru5t898 (or any per$S ¢(mrted tth them) rgcerrfed any remuneration w tjenoffts from the Charoty dLrring the yaar. 10-
THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2022 The averago thlY number wnpknyees thrfng tho year 2022 Number 2021 Numb•r Totsl Taxatlon Th8 c*wity is exempt from tsx on gairo famirbj serthffl 505 of the Taxès Acl 1988 or 8ection 252 of the Taxation of Chatgtrabl8 GairtsAca 1992 to the extent that these are to its charitablo objeuts. 10 Cr•dllor8". amounts f•lllng du• TAllhln on• yo 2022 2021 Accmals and deferrgj IrKyJm8 720 11
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THE PHILADELPHIA TRUST IN EASTERN EUROPE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 12 ol Mt •wts between fund• funds 2022 funds 2022 funds 2021 fvnds 2021 2021 Fund balarw at 31 tlec8mber 2022 are representad by.. Current 8sseWlliabi1th8) 31.036 10.232 41268 26,318 11,539 37,857 31.036 10.232 41.268 26.318 11.539 37,857 13 R•lat•d party transactlo There We rK) di8(JsatrAe rdat•d pty Irnns*ai durirvJ Ihe year12021 . ThTh). 13-