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2024-03-31-accounts

Charity registration number 1079863

Company registration number 03785459 (England and Wales)

METRO WORLD CHILD UK

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024

METRO WORLD CHILD UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees W Willson
A Paliama
S Gleue
Secretary Adriaan Paliama
Charity number 1079863
Company number 03785459
Principal address The Renewal Trust Business Centre
3 Hawksworth Street
Nottingham
NG3 2EG
Registered office Ground Floor
1 - 7 Station Road
Crawley
West Sussex
RH10 1HT
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT

METRO WORLD CHILD UK

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 19

METRO WORLD CHILD UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE PERIOD ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the period ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 1 January 2019).

Objectives and activities

The objects of the charitable company are to advance the Christian religion either in the UK or overseas, in particular but not exclusively, by:

The directors seek to achieve these aims by:

The charity's trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.

Grant making

The trustees will consider any requests for grants or donations which they receive. However, due to the nature of the charitable company's operation, it is unlikely to make any grants available (other than passing on donations received for specific purposes).

Achievements and performance

2023 was a year of changes, restructuring and stabilization.

Moving out of Covid, this was the first year with full operations, unhindered by lockdowns, tiered levels and other restrictions. However, we could see how the financial pressure was affecting some of the sponsors and donors who in turn limited or paused their regular support for the projects supported by Metro World Child UK. A significant effort was made to recruit new supporters and strengthen relationships with our current, faithful supporters. Phone and email campaigns as well as personal notes helped to ease the effect.

In January, Metro World Child saw an unexpected turn of events as our office staff, Ms Nicky Cameron, handed in her notice with her last day in office indicated as February 17, 2023. The month of February was filled with necessary activities to find a replacement for Ms Cameron and at the same time to prepare a thorough handover that would protect and move forward the operations of Metro World Child UK.

Despite advertising the open position on various platforms, we only received a few applications and none that seemed qualified to fill the position. However, one of our volunteers presented Metro with a wonderful opportunity: They offered office space at financially extremely beneficial conditions. The caveat was that this office space was a distance from the London area in Nottingham. After thorough analysis of the potential costs and benefits to the organisation, whether financially or in donor relations and care, it was decided by the board of directors to move the office to said office space in Nottingham. A contributing factor to this decision was that we were made aware of a job application in the area. This applicant was keen on joining Metro World Child, serving alongside our international team. After multiple interviews, she was taken on board and now Ms Donna Cibor has already proven a valuable staff member, contributing richly to the operations and missions of Metro World Child.

The office move was prepared in detail and with much care as to protecting the office assets and assuring compliance with regulations. After handing in notice to the office space at the Charis Centre as well as our storage unit, the move took place under the close supervision of the board and a representative of the International Operations of Metro World Child, Ms Carola Graeter. It was confirmed that confidentiality of the records and data was kept at all times according to the provisions of GDPR.

page 1

METRO WORLD CHILD UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024

In October of 2023, the director of our partner organisation in Nakuru, Kenya has come for a visit to raise awareness and promote the work of Metro World Child in various churches and for groups of individual donors. With the help of the Metro supporters and sponsors in the UK, Metro projects in the Philippines, Kenya, US and India have been able to grow and expand.

The UK network for Metro World Child was in full swing in 2023 and MWC has seen a great blessing through the unique and timely consultancy of Mr Matthew Murray. We hope to be able to continue this beneficial partnership for the children who are reached through Metro World Child.

We have concluded the year of 2023 with a sense of accomplishment, looking back with on many changes and grateful for new beginnings and growth.

Financial review

Financial position

The charity had total net incoming resources of £20,825 (2022: £123,568) during the financial period ended 31 March 2024, as shown in the statement of financial activities on page 5 of the accounts.

Reserves policy

The trustees have established a policy for unrestricted reserves, whereby, in order to enable the charity to operate effectively, they aim to have three to six months expenditure in general funds.

The unrestricted reserves are now £286,320 (2022: £259,831) and restricted funds are £23,281 (2022: £28,945).

The charitable company has made charitable donations totalling £403,093 in the financial period (2022: £367,768) to Metro World Child based in New York, the majority of which related to forwarding on specific donations from donors.

Plans for future periods

In the next year we will start looking into other ways of fundraising besides our sponsorship program. Our main focus however remains increasing the number of sponsorships.

With a solid marketing strategy plan we expect to raise more awareness and achieve our goals. Outside sources will be approached to help us. Networking (social media) with businesses and attending exhibitions will be part of this marketing strategy plan as well.

Structure, governance and management

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a charitable company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

W Willson

A Paliama

S Gleue

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Vacancies occurring for trustees shall be filled by individuals appointed by the directors and ratified by vote of a majority of Directors then in office, regardless of their number. Trustees appointed shall hold office until their successors have been elected and qualified.

The areas of risk have been identified and the appropriate policy, in each case will be established during the course of next year and will be reviewed and monitored on a regular basis.

page 2

METRO WORLD CHILD UK

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024

On behalf of the board of trustees

page 3

METRO WORLD CHILD UK

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF METRO WORLD CHILD UK

I report to the trustees on my examination of the financial statements of Metro World Child UK (the charity) for the period ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants for England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Dated: .........................31 January 2025

page 4

METRO WORLD CHILD UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 MARCH 2024

Current financial period Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
31/03/2024 31/03/2024 31/03/2024 31/03/2024 31/12/2022
Notes £ £ £ £ £
Income from:
Donations and legacies 3 131,094 425,379 22,384 578,857 635,978
Other trading activities 4 774 - - 774 -
Investments 5 11 - - 11 -
Total income 131,879 425,379 22,384 579,642 635,978
Expenditure on:
Raising funds 6 100 - - 100 873
Charitable activities 7 121,114 393,861 44,659 559,634 511,537
Total expenditure 121,214 393,861 44,659 559,734 512,410
Net income/(expenditure) 10,665 31,518 (22,275) 19,908 123,568
Transfers between funds (16,611) - 16,611 - -
Other recognised gains and
losses:
Other gains 14 917 - - 917 -
Net movement in funds 10 (5,029) 31,518 (5,664) 20,825 123,568
Reconciliation of funds:
Fund balances at 1 January 2023 73,161 186,670 28,945 288,776 165,208
Fund balances at 31 March 2024 68,132 218,188 23,281 309,601 288,776

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

page 5

METRO WORLD CHILD UK

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 MARCH 2024

Prior financial year Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
31/12/2022 31/12/2022 31/12/2022 31/12/2022
Notes £ £ £ £
Income from:
Donations and legacies 3 277,704 335,724 22,550 635,978
Total income 277,704 335,724 22,550 635,978
Expenditure on:
Raising funds 6 873 - - 873
Charitable activities 7 153,075 335,414 23,048 511,537
Total expenditure 153,948 335,414 23,048 512,410
Net income/(expenditure) 123,756 310 (498) 123,568
Transfers between funds (87,381) 86,482 899 -
Net movement in funds 10 36,375 86,792 401 123,568
Reconciliation of funds:
Fund balances at 1 January 2022 36,786 99,878 28,544 165,208
Fund balances at 31 December 2022 73,161 186,670 28,945 288,776

page 6

METRO WORLD CHILD UK

BALANCE SHEET

AS AT 31 MARCH 2024

31/03/2024 31/03/2024 31/12/2022 31/12/2022
Notes £ £ £ £
Fixed assets
Tangible assets 15 1,053 1,296
Current assets
Debtors 16 211,659 263,237
Cash at bank and in hand 129,793 63,070
341,452 326,307
Creditors: amounts falling due within one 17
year (32,904) (38,827)
Net current assets 308,548 287,480
Total assets less current liabilities 309,601 288,776
The funds of the charity
Restricted income funds 19 23,281 28,945
Unrestricted funds - general 21 68,132 73,161
Unrestricted funds - designated 20 218,188 186,670
309,601 288,776

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

30 January 2025

The financial statements were approved by the trustees on .........................

Company registration number 03785459 (England and Wales)

page 7

METRO WORLD CHILD UK

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by) operations
24
Investing activities
Investment income received
Net cash generated from/(used in) investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period		 31/03/2024
£
£
66,712
11
11
-
66,723
63,070
129,793		 31/12/2022
£
£
(10,589)
-
-
-
(10,589)
73,659
63,070

page 8

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Metro World Child UK is a private company limited by guarantee incorporated in England and Wales. The registered office is Ground Floor, 1 - 7 Station Road, Crawley, West Sussex, RH10 1HT.

1.1 Reporting period

he charitable company have taken the decision to extend their reporting period to a 15 months period to 31 March 2024. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are those designated as such by the trustees.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.5 Income

Donations, gift aid on donations and other forms of income are recognised as incoming resources when receivable.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Expenditure on charitable activities includes grants payable made to third parties and other activities undertaken to further the purposes of the charity and their associated support costs.

The Trustees have identified one charitable activity.

page 9

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment

15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Basic financial assets

Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Basic financial liabilities

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably results in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

1.10 Taxation

As a registered charity the company benefits from rates relief and is generally exempt from income tax and corporation tax. The charity is not registered for value added tax.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

page 10

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.14 Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations received

Unrestricted Unrestricted Restricted Total
funds funds funds
general
31/03/2024 31/03/2024 31/03/2024 31/03/2024
£ £ £ £
Donations and gifts 131,094 425,379 22,384 578,857
Unrestricted Unrestricted Restricted Total
funds funds funds
general
31/12/2022 31/12/2022 31/12/2022 31/12/2022
£ £ £ £
Donations and gifts 277,704 335,724 22,550 635,978
Income from other trading activities
Unrestricted Unrestricted
funds funds
31/03/2024 31/12/2022
£ £
Merchandise Sales 774 -

page 11

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

5 Income from investments
Unrestricted Unrestricted
funds funds
31/03/2024 31/12/2022
£ £
Interest receivable 11 -
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
31/03/2024 31/12/2022
£ £
Fundraising and publicity
Seeking donations, grants and legacies 100 873
7 Expenditure on charitable activities
Advancing Advancing
the Christian the Christian
Religion Religion
31/03/2024 31/12/2022
£ £
Direct costs
Staff costs 73,614 47,284
Direct costs 6,724 15,094
Consultancy 37,218 32,500
117,556 94,878
Grant funding of activities (see note 8) 403,093 367,768
Share of support and governance costs (see note 9)
Support 23,092 31,676
Governance 15,893 17,215
559,634 511,537
Analysis by fund
Unrestricted funds - general 121,114 153,075
Unrestricted funds - designated 393,861 335,414
Restricted funds 44,659 23,048
559,634 511,537

page 12

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

8 Grants payable
Advancing Advancing
the Christian the Christian
Religion Religion
31/03/2024 31/12/2022
£ £
Grants to individuals 403,093 367,768
-
9 Support costs allocated to activities
31/03/2024 31/12/2022
£ £
Depreciation 243 229
Rent 6,382 8,526
Rates 77 -
Insurance 447 264
Repairs and maintenance - 2
Telephone 1,483 770
Travelling 2,748 20,002
Hire of plant and machinery 483 143
Sundries 1,727 1,170
Advertising 9,501 570
Governance costs 15,894 17,215
38,985 48,891
Analysed between:
Advancing the Christian Religion 38,985 48,891
31/03/2024 31/12/2022
Governance costs comprise: £ £
Independent examination fee 1,726 9,676
Legal and professional 4,440 -
Bank charges 9,726 7,539
Interest payable 2 -
15,894 17,215
10 Net movement in funds 31/03/2024 31/12/2022
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements 1,726 9,676
Depreciation of owned tangible fixed assets 243 229

page 13

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the period.

12 Employees

The average monthly number of employees during the period was:

The average monthly number of employees during the period was:
31/03/2024 31/12/2022
Number Number
3 2
Employment costs 31/03/2024 31/12/2022
£ £
Wages and salaries 72,281 46,192
Other pension costs 1,333 1,092
73,614 47,284
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
31/03/2024 31/12/2022
£ £
Aggregate compensation 21,442 47,284

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Other gains and losses

Unrestricted Unrestricted
funds funds
31/03/2024 31/12/2022
Gains/(losses) upon: £ £
Foreign exchange (917) -

page 14

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

15 Tangible fixed assets
Fixtures, fittings
& equipment
£
Cost
At 1 January 2023 5,436
Disposals (1,934)
At 31 March 2024 3,502
Depreciation and impairment
At 1 January 2023 4,140
Depreciation charged in the period 243
Eliminated in respect of disposals (1,934)
At 31 March 2024 2,449
Carrying amount
At 31 March 2024 1,053
At 31 December 2022 1,296
16 Debtors
31/03/2024 31/12/2022
Amounts falling due within one year: £ £
Other debtors 211,635 262,922
Prepayments and accrued income 24 315
211,659 263,237
17 Creditors: amounts falling due within one year
31/03/2024 31/12/2022
£ £
Other taxation and social security - 753
Accrued grants 24,862 30,084
Accrued expenses 8,042 7,990
32,904 38,827
18 Retirement benefit schemes
31/03/2024 31/12/2022
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 1,333 1,092

page 15

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

18 Retirement benefit schemes

(Continued)

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At 31
£
£
£
£
Appeal fund - Pastor Bill
3,447
-
-
-
Special Events Romania
4
-
-
-
Special Events (Operation MOM)
5,941
-
(5,941)
-
Special Events USA
2,078
-
-
-
Special Events Kenya
11,976
-
(2,121)
-
Special Events PH
14
-
(2,581)
2,567
Camp Phillipines
5
-
(1,512)
1,507
Camp Romania
4,228
-
(450)
-
Camp Kenya
-
-
(2,300)
2,300
Camp USA
-
-
(2,780)
2,780
Humanitarian Medical Aid Kenya
569
-
-
-
WBO USA BOL Thanks Giving
683
-
(3,335)
2,652
Holiday Hope
-
6,675
(3,145)
-
RWO
-
-
(4,805)
4,805
Guest Relations
-
900
(900)
-
Earthquake Turkey/Syria Fund
-
2,659
(2,639)
-
Gaza Fund
-
6,194
(6,194)
-
Ukraine Fund
-
5,956
(5,956)
-
28,945
22,384
(44,659)
16,611		 March
2024
£
3,447
4
-
2,078
9,855
-
-
3,778
-
-
569
-
3,530
-
-
20
-
-
23,281

page 16

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

19 Restricted funds (Continued)
Previous year: At 1 January Incoming Resources TransfersAt 31 December
2022 resources expended 2022
£ £ £ £ £
Appeal fund - Pastor Bill 3,447 - - - 3,447
Special Events Romania 4 - - - 4
Special Events (Operation MOM) 5,941 - - - 5,941
Special Events USA 2,078 25 (25) - 2,078
Special Events Kenya 12,258 88 (370) - 11,976
Special Events PH 14 - - - 14
Camp Phillipines 5 938 (938) - 5
Camp Romania 4,228 67 (67) - 4,228
Camp Kenya - 2,289 (3,188) 899 -
Humanitarian Medical Aid Kenya 569 - - - 569
Book Bag General USA - 544 (544) - -
WBO USA BOL Thanks Giving - 4,324 (3,641) - 683
WBO Summer (Day) Camp USA - 6,954 (6,954) - -
Haiti Relief & Afghanistan Appeal
Fund - 7,321 (7,321) - -
28,544 22,550 23,048 899 28,945

Appeal fund - Pastor Bill - are funds generated during speaking engagements of the senior pastor and founder of Metro Ministries, Reverend William F Wilson. The specific appeals are announced during his visit.

The other restricted funds represent funds donated where the donor has specified that proceeds be transferred to a particular cause.

20 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

At 1 January Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Sponsorship funds 186,670 425,379 (393,861) - 218,188
Previous year: At 1 January Incoming Resources TransfersAt 31 December
2022 resources expended 2022
£ £ £ £ £
Sponsorship funds 99,878 335,724 (335,414) 86,482 186,670

Sponsorship funds represent funds raised during the year on various appeals other than specifically restricted appeals. It also includes all funds directly related to sponsorship programmes such as funds for children in the Phillipines and South Africa, the Book Bag Project, Summer Camp and the Won by One fund.

page 17

METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January At 1 January Incoming Resources Transfers Gains and At 31 March
2023 resources expended losses 2024
£ £ £ £ £ £
General funds 73,161 131,879 (121,214) (16,611) 917 68,132
Previous year: At 1 January Incoming Resources Transfers Gains and
At		 31 December
2022 resources expended losses 2022
£ £ £ £ £ £
General funds 36,786 277,704 (153,948) (87,381) - 73,161
Analysis of net assets between funds
Unrestricted Designated Restricted Total
funds funds funds
31/03/2024 31/03/2024 31/03/2024 31/03/2024
£ £ £ £
Fund balances at 31 March 2024 are represented by:
Tangible assets 1,053 - - 1,053
Current assets/(liabilities) 67,079 218,188 23,281 308,548
68,132 218,188 23,281 309,601
Unrestricted Designated Restricted Total
funds funds funds
31/12/2022 31/12/2022 31/12/2022 31/12/2022
£ £ £ £
Fund balances at 31 March 2024 are represented by:
Tangible assets 1,296 - - 1,296
Current assets/(liabilities) 71,865 186,670 28,945 287,480
73,161 186,670 28,945 288,776

22 Analysis of net assets between funds

23 Related party transactions

There were no disclosable related party transactions during the period (31/12/2022 - none).

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METRO WORLD CHILD UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2024

24 Cash generated from operations 31/03/2024 31/12/2022
£ £
Surplus for the period 19,908 123,568
Adjustments for:
Investment income recognised in statement of financial activities (11) -
Foreign exchange differences 917 -
Depreciation and impairment of tangible fixed assets 243 229
Movements in working capital:
Decrease/(increase) in debtors 51,578 (123,635)
(Decrease) in creditors (5,923) (10,751)
Cash generated from/(absorbed by) operations 66,712 (10,589)

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