Statement of Financial Activities for the year ended 31st March 2024
Registered charity: 1081400
Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
Friends of Tread
Friends of TREAD exists to support and equip TREAD India in their incredible grassroots work in the villages of rural Southern India. We offer child development centres where children receive wraparound care which allows them to attend school, be fed and receive support from our wonderful teams.
Founded in 2000 Friends of TREAD are passionate about empowering children in rural India to change their futures. We currently run four centres across southern India, though each site is unique we offer the same care and attention to all our children.
We provide nutritious meals, 5 days a week to all the children in our centres.
This basic necessity has huge knock on effects. Children’s ability to learn and play increases as hunger is eradicated. Well balanced nutritional meals don’t just have an instant impact they also help decrease illness, fatigue and promote a culture of health and wellness. For our families it alleviates the fear and pressure around how they are going to provide enough for the next meal.
We provide a safe space for our children to play, laugh and build friendships. Ultimately by offering these three basic things our children’s lives are changed and options opened for their future.
In March TREAD India Trust together with the local community leaders organised a free medical camp at our Sarah Centre in Podia. This area has no routine contact with medical services. TREAD supports the education and health of children. Poor health of one member of the family impacts the whole family. Four consultant doctors and a nurse from a medical centre in Andhra Pradesh saw 302 patients from the community, 85 of which were referred on to the hospital.
We would like to thank everyone who came along to our Quiz evening in Bristol in March. With your generosity we raised £668 which will be put towards buying play equipment in one of the other centres so that more children can enjoy themselves
We ran a competition across our four centres for the children to design TREAD’s Christmas card this year. Those of you who regularly support our work will have received this card designed by Majjuri who attends Trinity Child Development Centre. It was very difficult choosing just one design from nearly 300.
Majjuri won the prize for his centre and the staff decided to purchase new rugs for the children to use when they assemble and spend time studying at the centre.
The trustees confirm that they have complied with the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charity and future activities.
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
Income
Income has declined compared to the previous year, with a fall in individual donations and a fall in income generated from appeals and fundraising events.
Over the course of the year there has been some turnover in regular donors, this was expected and budgeted for, but far less than the previous year.
As ever we are so grateful to our donors for their faithful support, without which the activities of the charity would not be possible. We are also especially grateful to B & A Church Bristol, for all their support and to Jan Hillman for the Independent examination of the accounts.
Expenditure
There has been a reduction of £18k (25%) in expenditure in year. The key driver behind this is the reduction of administrative costs and salaries in India. Communication has been ongoing with each of the sites with increased engagement in some areas. There has been no trustee visit to India in this financial year, a visit will be undertaken in the following year. This year was the second full year post pandemic that all sites were open fully.
We have reduced costs to the centres by 12% against the previous year. This has partly been required due to the reduction in income and projects running at planned levels.
Friends of TREAD and TREAD India are working together to ensure future expenditure plans, both for planned growth and no growth in income.
Trustees
The trustees who have served from 1 April 2023 until the date this report was approved are:-
| Trustee | Note |
|---|---|
| JeremyDart | Chair |
| Alexander Dart | |
| Jane Davies | |
| Caroline Ludlow | |
| Jacqueline Uren | Appointed November 2023 |
| Mat Shannon | Resigned November 2023 |
Correspondence address
Friends of TREAD, 179 Gloucester Road, BS7 8NY
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
Income and Expenditure for the year ended 31[st] March 2024
| Note | Unrestricted General Funds £ |
Restricted Funds £ |
23/24 Total £ |
22/23 Total £ |
|
|---|---|---|---|---|---|
| INCOME AND ENDOWMENTS | |||||
| Individual Donations | 27,158 | 9,463 | 36,621 | 40,472 | |
| Churches and Schools | 6,000 | - | 6,000 |
2,400 | |
| Legacies | 1,500 | - | 1,500 |
- | |
| Gift Aid Recovery | 3 | 3,323 | 677 | 4,000 | 7,458 |
| Other Trading Activities | |||||
| Appeals and FundraisingEvents | 2 | 1,393 | - | 1,393 |
2,901 |
| Total Incoming Resources | 39,374 | 10,140 | 49,514 | 53,231 | |
| EXPENDITURE | |||||
| Grants to TREAD India Trust | 4 | 38,734 | 13,995 | 52,729 | 68,070 |
| UK Administration Costs | 5 | 1,138 | - | 1,138 |
3,660 |
| Total Expenditure | 39,872 | 13,995 | 53,867 | 71,730 | |
| Net incoming/(outgoing) resources | (498) | (3,855) | (4,353) | (18,499) | |
| Balance Brought Forward at 1 April 2023 | 19,392 | 4,604 | 23,996 | 42,495 | |
| BALANCE CARRIED FORWARD at 31 MARCH 2024 |
18,894 | 749 | 19,643 | 23,996 |
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
Balance Sheet as at 31[st] March 2024
| Current assets Cash at bank and in hand Net assets Represented by Funds Unrestricted general funds Restricted funds Total funds |
Mar-24 Mar-23 £ £ 19,643 23,996 19,643 23,996 18,894 19,392 749 4,604 19,643 23,996 |
|---|---|
The financial statements on pages 1 to 10 were approved by the trustees on and signed on their behalf by:
Jeremy Dart Chair
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
Notes forming part of the financial statements for the year ended 31[st] March 2024
1. Principal Accounting Policies
-
Friends of TREAD is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 in accordance with the applicable accounting standards and the current (2019) Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102))
-
The financial statements have been prepared under the historical cost convention using the receipts and payments method. The financial statements include all transactions, assets and liabilities for which Friends of TREAD are responsible in law.
-
Income is recognised in the period in which the charity is entitled to receipt. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
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Funds held by the charity are unrestricted general funds which can be used in accordance with the charitable objects at the discretion of the trustees and restricted funds that can only be used for particular restricted purposes within the objects of the charity; restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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The trustees aim to maintain free reserves within unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. For the year ended 31[st] March 2024 this totals £9,683. The trustees consider that this level will provide sufficient funds to cover payments and requirements and consider that a level of three months is sufficient due to the nature of expenditure. Funds held for reserves are not held in a separate account by the trustees.
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
2. Appeals and Fundraising income
| Unrestricted General Funds £ |
Restricted Funds £ |
23/24 Total £ |
22/23Total £ |
|
|---|---|---|---|---|
| EasyFundraising and Amazon | 99 | - |
99 | 193 |
| BirthdayFundraiser | - | - | - | 140 |
| Summer Fundraiser(Tea Party) | 626 | - |
626 | 773 |
| Quiz Night | 668 | 668 | 1,795 | |
| Total | 1,393 | - |
1,393 | 2,901 |
3. Breakdown of Gift Aid income
| Unrestricted General Funds £ |
Restricted Funds £ |
23/24 Total £ |
22/23Total £ |
|
|---|---|---|---|---|
| Orphan Assistance Programme (Vulnerable Persons) |
127 | 127 | 704 | |
| Trinity Day Care Centre, Kud.(TDCC) | 522 | 522 | 1,229 | |
| One-off appeal | 5 | 5 | - | |
| Development Fund | 23 | 23 | 49 | |
| General Fund | 3,323 | 3,323 | 5,477 | |
| Total Gift Aid Recovery | 3,323 | 677 | 4,000 | 7,458 |
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
4. Grants to TREAD India Trust 4a. Grants breakdown
| Expenditure | Unrestricted General Funds £ |
Restricted Funds £ |
23/24 Total £ |
22/23 Total £ |
|---|---|---|---|---|
| Appeal Top-up, One of requests | 130 | 130 | 3,000 | |
| TDCC - Food & Hygiene | 5,500 | 5,500 | 8,297 | |
| TDCC - Admin & Ofce | 27 | 27 | 166 | |
| TDCC - Utlites | 116 | 116 | 224 | |
| TDCC - Staf Salaries | 5,064 | 5,064 | 4,638 | |
| TDCC - Travel | 860 | 860 | 1,428 | |
| TDCC - Educatonal supplies | 24 | 24 | - |
|
| TDCC - Medicaton & First Aid | - | 11 | ||
| Sarah - Food & Hygiene | 6,493 | 6,493 | 7,776 | |
| Sarah - Admin & Ofce | 58 | 58 | 196 | |
| Sarah - Utlites | 290 | 290 | 903 | |
| Sarah - Staf Salaries | 4,132 | 4,132 | 3,361 | |
| Sarah - Travel | 1,505 | 1,505 | 1,307 | |
| Sarah - Educatonal supplies | 251 | 251 | 252 | |
| Sarah - Medicaton & First Aid | - | 11 | ||
| David - Food & Hygiene | 5,546 | 5,546 | 7,141 | |
| David - Admin & Ofce | 66 | 66 | 301 | |
| David - Utlites | 285 | 285 | 673 | |
| David - Staf Salaries | 5,712 | 5,712 | 4,396 | |
| David - Travel | 184 | 184 | 737 | |
| David - Children Support | 5 | 5 | 15 | |
| David - Repairs & Maintenance | 2 | 2 | 2 | |
| David - Educatonal Supplies | 140 | 140 | 11 | |
| David - Medicaton & First Aid | 5 | 5 | 13 | |
| Hannah - Food & Hygiene | 6,020 | 6,020 | 8,435 | |
| Hannah - Admin & Ofce | 76 | 76 | 157 | |
| Hannah - Utlites | 177 | 177 | 545 | |
| Hannah - Staf Salaries | 5,712 | 5,712 | 3,498 | |
| Hannah - Travel | 550 | 550 | 627 | |
| Hannah- Children Support | 2 | 2 | 9 | |
| Hannah - Repairs & Maintenance | 3 | 3 | 313 | |
| Hannah - Educatonal Supplies | 284 | 284 | 5 | |
| Hannah - Medicaton & First Aid | 29 | 29 | 6 | |
| Vulnerable Persons Salaries | 1,218 | 1,218 | 1,490 | |
| Vulnerable Persons support | 1,186 | 1,186 | 1,634 | |
| Medical & emergency relief | 581 | 581 | - |
|
| Admin India | 231 | 231 | 3,290 | |
| Admin India Salaries | 265 | 265 | 3,203 | |
| Total Grants to TREAD India Trust | 38,734 | 13,995 | 52,729 | 68,070 |
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
4b. Costs by type
4c. Costs by centre
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
5. Costs of generating funds
| Unrestricted General Funds £ |
Restricted Funds £ |
23/24 Total £ | 22/23 Total £ | |
|---|---|---|---|---|
| Stationery and Postage | 203 | 203 | 203 - |
|
| Costs of fundraising activities | 244 | 244 | 244 - |
|
| Trustee Indemnity Insurance | 338 | 338 320 | 338 320 | |
| QuickBooks Subscription | 65 | 65 108 | 65 108 | |
| Bank Charges | 288 | 288 12 | 288 12 | |
| Trustee Visit to India | - | - 3,220 | - 3,220 | |
| Total Cost of Generating Funds | 1,138 | 1,138 - 1,138 3,660 |
- 1,138 3,660 | - 1,138 3,660 |
6. Funds breakdown
When restricted funds go into minus figures, it is offset against general funds.
7. Payments to Trustees
No payments were made to trustees.
In the year end 31[st] March 2023 reasonable reimbursements for a trustee visit to India were accounted for. No such reimbursements have been made in the year ended 31[st] March 2024.
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
| Report to the trustees/members of On accounts for the year ended Set out on pages Responsibilites and basis of report Independent examiner's statement |
Independent examiner's report on the accounts | Independent examiner's report on the accounts | |
|---|---|---|---|
| Friends of TREAD | |||
| 31stMarch 2024 | Charity no (if any) | 1081400 | |
| 1-10 | |||
| I report to the trustees on my examinaton of the accounts of the above charity (“the Trust”) for the year ended 31stMarch 2024. As the charity's trustees, you are responsible for the preparaton of the accounts in accordance with the requirements of the Charites Act 2011 (“the Act”). I report in respect of my examinaton of the Trust’s accounts carried out under secton 145 of the 2011 Act and in carrying out my examinaton, I have followed all the applicable Directons given by the Charity Commission under secton 145(5)(b) of the Act. I have completed my examinaton. I confrm that no material maters have come to my atenton in connecton with the examinaton which gives me cause to believe that in, any material respect: |
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
| Signed: Name: Relevant professional qualifcaton(s) or body Address: |
Date: | ||
|---|---|---|---|
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Friends of TREAD (Charity 1081400) Statement of Financial Activities for the year ended 31st March 2024
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