INTERNATIONAL AID TRUST FINANCIAL STATEMENTS 31 DECEMBER 2023 Company Registrailon Number 04167908 Charity Number 1086597
INTERNATIONAL AID TRUST FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 Contsnts Pages Trustees, Annual Report 1-11 Reference & Administrative Informatlon 12 Independent Audltor's Report 13- 19 ststement Of Financial Actlvltles 20 Balance Sheet 21 Staternent of Cash Flows 22 Notes Forming Part Of The Financial Statements 23-34
INTERNATIONAL AID TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 The Truslees, who are also Directors of Ihe Charity for the purposes of the Companies Act 2006, present their port with the financial statements of the Charity for the year ended 31 December 2023. OBJECTIVES AND ACTIVITIES International Aid Trust is a Christian Humanitarian Aid Charity, which has evolved slnce 1991 when a small group of Christians started to take Bibles and aid to the fonner USSR. It is an independent organisation initially constituted as an unincorporated Charity {1996) and subsequenlly as a Company Limited by Guarantee (2001). The goveming document defines our objectives as: The relief of persons who are in conditions of need, hardship or distress and who are aged or sick and in particular by Ihe supply of financial material and medical aid and by the provision of personnel to provide assistance. The advancement of the Christian faith. The Trustees have had regard to the Charity Commission's guidance on public benefit. Our strap line "Chrlstian Compassion for a Hurling World. describes every aspecl of our ministry and drives the way in which we seek to provide public benefit in every area in which we work. Intemational Aid Trust provides direct financial and in-kind relief; but our aim is to pursue projects which facilitate self-help and sustainable improvements to qualty of lrfe in order to break the chain of being bom into poverty. We do this by modelling the practical and spiritual Gospel of Jesus Christ Ihrough: Providing lrfe's basic essentials for those with nothing. Providing respite holidays for needy children, including Christian teaching, medical checks and treatment, physical exercise, good fun and motivation to build their hope for a better future. Providing direct financial aid for basic food, shelter and medical needs to individuals and families in extreme poverty. Providing and supporting foster homes for small groups of rescued homeless children where they can be cared for and taught life skills in a Christian environment. Shlpment of humanitsrian aid to communities, hospitals and individuals in many parts of the world. Vocational training via self-help projects. Evangelism and Church-Planting. Practical help through gifts in kind to needy families and individuals in the UK.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE UK - Retail For a Charity which has traditionally sought to fund about 80% of its work from funds raised by our Charity Shops, the last three years before this have been extremely challenging. However. 2023 has seen a positive difference in retaiL income. We have reduced our dependency on our retail operation, retaining only those shops that were most successful in seNing the objectives of the Charity. Our Retail Manager has continued to work with our 11 shops to optimise their performance, with an improved profitability showing from as far back as 2021. Since July 2021, we have employed an ecommerce Manager. Our Charity Shop8 pass to him donated items which are unusual or potentiallyvaluable and he has been able to raise funds through saLes on eBay and Etsy at a profitability which exceeds that of most of our high street Charity Shops. This has continued to grow through 2023. UK- Warehousing In October 2022, we moved to a temporarywarehouse in Hesketh Bank Nr Southport on a three-year peppercorn rent through friends of ourfounder. We are in discussions with them regardinga permanent site in Tarleton just 3.5 miles awayfrom our present site. They have gone the extra mile in helping us and thank God fortheir kindness. Since the Russian invasion in February 2022, we have seen an increase in the number of volunteers and peopLe donating aid. This has continued throughout 2023 and so we have been able to pack and load over 198 tons of high-quality humanitarian aid with a vaLue of over£4 Million. Overseas This is our 32nd year anniversary and the Ukraine Crisis has taken up the majorityof the charity's time & effort8 during 2023
INTERNATIONAL AID TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Ukraine A great big thank you to the people of Lancashire for over £3.8 million pounds worth of aid sent to Ukraine through the Trust. We have been working in Ukraine since 1991. thirty-two years. and we are ideally placed to support peopLe whose lives have been devastated by the war. We have been overwhelmed bythe generosity of local people. As soon as the Ukraine EmergencyAppealwas launched. financial donations and practical aid poured in. Hundreds of people kindly volunteered their time, and churche8 and Rotary clubs set up collection points across the county. Letter of thanks from Founder Rev Bernard Cocker: "Dear friends thank you for your amazing efforts following the invasion on 24 February 2022. The generosity of Lancashire people never ceases to amaze us, and despite the war going on you have come up with the goods once again. With your help we have been abLe to source, gather, sort, pack, and deliver £13 milLion worth of Life saving aid to the victims of this atrocity. So many lives have been saved because you care and trust us with your support. We have worked in Ukraine since the charity began in 1991 and have been blessed to retain local staff there who were ready to lead teams from our warehouse in Kiev. delivering your aid to the hardest hit areas in many parts of the country. And it is making such a huge difference. When the invasion began, none of our staff or volunteers fled but stayed behind to help the needy. It onlytakes 4-5 days for the aid leaving our warehouse to arrive in Kiev. Some of our projects there have been destroyed. such as our children's camps, but until this invasion has been defeated, we will continue to stand with Ukraine and then going fonNard we wilL help with the rebuilding. Russia has continued to bomb civiLian centres, hospitals and education infrastructure, but it does not dampen the spirit of the Ukrainians. Please remember that we still need slL the things that you and I take for granted, and we need volunteers in all areas of ourwork, and funding to keep keeping the aid going. PLease, please keep supporting our efforts. God bLess you all and thank you once again.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Moldova A tremendous ministry continues here amongst Some of the very poorest people in Europe and is led by Pastorvictorwho ha8 9 villages with churches in his care. Pastorvictor is now International Aid Trust Director in Moldova where the trust is now registered. The aid we send has made a huge difference to these struggling families and we hope to increase the help we provide through Rose Foulds, a Trustee and one of our volunteer coordinators. who looks after Moldova for the Trust. Moldova and the other countries bordering Ukraine have taken in literariLy millions of refugees from Ukraine, so our aid continues to be shared between refugees on this ongoing ministry amongst these nations. I can only see this Moldovan ministry continuing to thrive under Pastor Victors leadership. Romania Our close partnership with Prison FeLlowship Romania, who work with some of poorest in the Transylvania region and other parts of the country, 18 improving lives in so many ways: health care. education and general living conditions. We don't just help materially but also by encouraging recipient8 to take control of their own futures by self- determination and having pride and respect in their neighbourhood and nation. We have provided much-needed equipment, food, clothing, medicaL supplies, furniture. educational material and children's toys. So much is being achieved through this ministry and we see real tangible improvements each time we visit that encourages us to want to do more. It's a wonderfuL and effective ministry that we shall try our best to continue to support. Romania has also taken thousands of refugees, so aid has been sent in addition to support them. India The ministry here has grown exponentially and now there are close to 200 churches underthe leadership of Bishop Kota who we have worked with for 15 years. Due to the growth. help has been sought from other sponsors in the U.K., Europe, and USA. There was a huge success with substantiaLfunding being found. After meeting with Bishop Kota. myself. together with Paul Cook, Trustee. and Philip Walker. the decision was taken to set the Indian ministry free of our oversight and funding. We took into consideration our workload in other parts and the decision was taken after much prayer and meetings. We continued to fund the projects here until the end of March 2024.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Slerra Leone We completed the buiLding of our New Hope Academy in Novemberthis yearthank8to the tremendous support of the main sponsor GBAtogetherwith churches, individuals. and foundational support. The academy was off iciaLly opened in late November with the Deputy Education Minister and other government officials taking part. We also had the presence of two GBA directors taking part, brothers David & PauL Birkbeck. Also, Paul Cook Trustee and I took part. AwonderfuL event We have years 7 & 8 students here. ourfirst and second intake of our primary children into high school education. Year eight had their year seven education in our Emmanuel House Orphanage during the day whilst the twenty-six orphans who live hele were attending our New Hope Primary School. From small beginnings in 2009, ourwork in the Lunghi Region of Sierra Leone has grown tremendously. Our New Hope School has repeatedly been given accolades by the Education Authorities, and for the seventh year running came in the top three out of thirty district schools and was awarded excellent marks. We now have some 560 plus students, whose level of attainment means they are often the highest performing children. The schooL also operates various after school clubs that are very popular and so much appreciated. Our Family Sponsorship Programme now supports 30 plus families as welL as a full- time Midwife, Marion. She holds ante-natal and post-natal clinics on site and runs mobile clinics in the more remote areas. This is having significant impact on infant mortality rates. The Sierra Leone "Hands of Dorcas" sewing project has brought a great deal of joy to those benefitting from it as well as to the teachers, staff and those of us who have visited and seen the change in theseyoungwomen. The training takes up to two years and includes basic Literacy and numeracy skills. Our New Hope Church is based at the school and has gone from strength to strength and is now highly respected within the community. Rev Michael, our director, is very highly respected. as is his wife Alice who is our Headmistress of the school. Our training of evangeli8t missionaries to reach out into remote areas is aLso bringing very positive results. Small groups are now growing in nine other villages and townships.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Emmanuel House. our rescued children's home situated about three miles from the school. continues to thrive. The vision and need came in response to the big increase in orphans following the Ebola crisis. It is currently home to 26 orphan children with two house parents. On Wednesday evenings. the main room is now used as a church for the local community. with more than 80 people attending. We dug our own welL in the grounds that also serdes the local viLlage. Here we aLso hold mobile clinics led by our Midwife and Nurse. As already said. ouryear seven students are being taught here until the academy is completed. Future Plans We continue to do everythingthat is possible to help and support Ukraine in whichever way is needed. We have already started building a small schooL and church in Lokomasama where we have been working for five years now. We were waiting for the funding to begin this and it's now undenvay. We are also looking to reach out with preschool groups to other deprived & isolated areas. ALSO, GBA are looking at funding small business in the region to support the ongoing work. to make them as self-sufficient as possible. A local company has also agreed to provide a solar panel system for the academy and will go over to Sierra Leone to fit it. This will be another huge move forward, in a place that has unlimited sunshine much of the year. Our new offices in Chorley have been a blessing. We now have the lift installed. helped by a grant which aLso supported work on the main off ice with a proposed community area sectioned off from the main offices. We continue to pursue funding for a kitchen, roof repairs and fire escape needed to complete the visions for a community hub for Chorley. The furniture shop on the ground floor has been a tremendous successl
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Acknowledgements 2023 saw a continuing response to the Ukraine Appeal and a huge injection of funding forthe high school in Sierra Leone. With this wonderful support, the positive spirit throughout the charity is clearly felt. Big thanks are also due for the efforts of around 500 volunteers in the UK and over a thousand volunteers overseas in ourvarious ministries. Thanks aLso to the many churches. Rotary Clubs and other organisations who have donated goods eitherto our charity shops in the UK or to our Warehouse for shipping overseas. Without all these we could not begin the work of showing Christian Compassion for this Hurting World. Financlal Review The results for the year and the financial position of the Charty as of 31 December 2023 are set out in the Financial Statements on pages 20 to 34. 2023 £1.15M £1,07M 2022 £1.14M £0.98M 2021 £0.80M £0.61M 2020 £0.84M £0.75M Income Expenditure The position at the end of 2023 meant that the balance sheet position was £537,927 (2022: £457,387) and the free reserves of the Charity at year end were £174,553 (2022: £134,009). STRUCTURE. GOVERNANCE & MANAGEMENT Governing Document The organisation is a Charilable Company Limited by Guarantee. The Company was established in 2001 under a Memorandum of Association which establishes the objects and powers of the Charitable Company and is govemed under its Articles of Association. In the event of the Company being wound up. members are required to contribute an amount not exceeding £10. Recruitment and Appointment of Management Committee The Directors of the Company are also Charity Truste&s for the purpose of charity law and under the Company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, the members of the Management Committee, the Trustees, are appointed by resolution of the present Truslees for a period of three years.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Trustee Induction and Training The existing Trustees are already familiar with the practical work of the Charity, having been involved in various ways with the Charity before being invited to become Trustees. If there is any need for n8w Trustees to be given any training, this is arranged with the other Trustees. All Trustees have to have a DBS check before being admitted. ReseNes Policy We channel as much of our funds to our overseas projects as possible, merely maintaining sufficient reserves to ensure day-to-day liquidity; it is our desire to have our free reserrfes covering one month's salaries and rents. Our free reserves were £174,553 at the year end. Risk Management The Management Committee has conducted a review of the major risks to which the Charity is exposed. Systems and procedures have been established to manage the risks the Charity faces: Princi al Risks & Uncertainties Strate ies to mana e these Terrorism and piracy All personnel travelling abroad cary adequate travel insurance and consult FCO advice. Safety and integrity of Only trusted carriers and routes are used. Goods are only humanitarian aid shipments shipped to known and Irusted recipients. Protection of children and All Trustees are DBS checked; and the Charity's Child vulnerable persons Protection Policy is promulgaled by appropriate signage. Property leases Leases are generally short term or with adequate break dauses. Cash flow Sufficient reserves are held lo maintain day-t¢Fday liquidity. Integrity of grants Grant-rnaking criteria used in selecting recipients include: a. Within the objects and current policies. b. Past commitments and investment. c. Previous successful relationship. to minimise risks of aid being diverted for uses outside our control or for fraudulent purposes. d. Maintaining a balance of recipients by age, gender, ethnic groups, region and denomination.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 Fundraising We do not engage in traditional fundraising. Ourapproach has always been to build long-term relationships with supporters - both individual and corporate - who contribute to the work of the charity in a variety of ways, including monetary. Our "Community Ambassadorf. role has been designed to build on this principally by visiting churches, community groups and schools to explain what we do and to encourage engagement in support of particular projects. Our charity shops are our principal means of raising funds by seeking to offer donated clothing and other goods for sale at competitive prices. Our shop managers take responsibility for ensuring that all customers are treated with care and respect; and several of our shops have benefitted from placements of vulnerable adult volunteers. In 2017 the Trustees agreed a fundraising policy that applies to all staff and volunteers to ensure that all fundraising is done in sympathy with the aims and objectives of the charity and in line with the requirements of the 2016 Charities Act. Compliance with this is monitored by Ihe Senior Management Team. In 2021 we signed a contract with Chell Perkins to advise us on our fundraising stralegy and lo support our grant application process and this continued through 2023. However, all contact with the public is conducted by our own staff. Organisation Structure The Charity's headquarters is in Chorley in Lancashire, where there is an Office and a fumiture shop. There are also local area groups and representatives in other parts of the UK. In 2021 we appointed a Head of UK Operations to take charge of all the UK-based work of the Charity and to free up our CEO to focus on supporter engagement and management of the overseas projects. Day-to-day management is therefore now conducted by the CEO in conjunction with the Head of UK Operations. offi Manager and Finance Manager. Significant decisions are reported to the Trustees. and all Trustees nomially meet with the CEO at least four times each year. The pay of staff, other than the CEO and Operations Manager, is set by the Trustees. The CEO and the Operations Managers review pay levels annually and make recommendations lo the Trustees. The pay of the CEO and Operations Manager is reviewed annually by the Chair of Trustees. National Directors are employed overseas who have many years, experience in the humanitarian aid field. The funding of the overseas projects is reviewed annually by the CEO and presented to the Board of Trustees for approval. Rev Bemard Cocker is also Pr8sid8nt of Intemational Aid Trust in Ukraine through which projects are funded and maintained. In India we operate as New Jerusalem Ministries. IAT Sierra Leone has been registered as a charity in Sierra Leone. These charities have been constiluted to simplify negotiations with government authorities for aid shipments, ministy projects and charitable donations.
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 We raise funds through a network of 11 charity shops in the UK which sell goods predominantly donated by the public; goods are also donated by private companies with permission to sell them. 10
INTERNATIONAL AID TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 STATElaENT OF TRUSTEES. RE8PONSIBILmES The Trustees, WIK) are also DirtorS of InternalN)nal Ald Trust for the purposes of Company law, are responsible for preparing th8 TNstees' Report and firkincial Stat in acwrdance wllh 8ppli(able law and UK Acc4)unting Standards (UK Generally Awted AoUntrJ Practie£). Company law requires the Trustees to prèpare financial statements ft>r financial year which give a tfue arKI fair view of the state of affaivs of the Charitable Company and of the in£x)ming resources and application of resources. includlng the Income and 6xperKllture. of the Charitatrde Company for that period. In preparlng these financial statemenls. the TrL*te are required to: Observ8 the mgthods and prlnciples in the Charftles SORP. Make Judgements and eslimates that are Tpasonable and prudent. State whether appllc8ble UK A¢Gounting Standards ve been followed, subjéct to any rnaterial departure disdosed and explalned in the financlal ststsments. Prepare the finandal statements on the golng conpé8m basis unless it Is inappropriats to presume that the Charflable Company will contlnue In buslness. The Trustees are re8pon8ib18 for keeplng proper accountlng record6 which dlsclos8, With reasonable acTrJracy at ary timé. the financ1 position of the Charitable Company and to enable them to ensure Ihat the finanthl slatement8 compty wlth th8 Companies Act 2006. They are also responslble for safeguarding the assets of the Charltable Company ar hence for taklng reasonable stsps for prevention and detecllon of fraud 8fKI oltw irregularitles. The who held ¢)ffice at the date of approval of thi8 Trustees, Report confirm thaL far as they are each aware, the is no relevant inforynatlon of which the Charity's IrKlepend8nt auditor Is unaware. Each Trustee has taken all steps thal they oughl lo have taken as a Trustee to make themselves aware of any rel8vanl information and to establish that the Charlfyls independent authtor ts aware of trfit Inf(atIon. AUDITORS Rolherham Taylor LSmlted were appointed as audito durfng the year and a rasolution for reappointment will be proposed to the Boanl of Truste6S. SMALL COMPANY PROVISIONS Thls report has been prepared in accordance wlth the spedal provisN)ns for small companFes under Part 15 of the Companies Act 2006. SIGNED ON BEHALF THE BOARD: AfexanderT8ylor (Chaiman).................. Date: 30 September 2024 11
INTERNATIONAL AID TRUST REFERENCE & ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2023 Charlty Name International Aid Trust Charity Regi8tration Number 1086597 Company Reglstratlon Number 04167908 Registered Office and Operational Address The Galleries, Croft Mill 43 Pall Mall Chorley, PR7 3LT Trustees Mr A R Taylor Dr C CrawForth Mr P Cook Mrs R Foulds Mr L Fisher Mr S Hardman Mrs J Dawe Chair Resigned 2611112023 Appointed 0111212023 Senior Management Team Rev Bemard Cocker Mr Philip Walker Mrs Alison Hammerton Mr Peter Lomax CEO and Founder Head of UK Operations Office Manager Finance Manager Auditors Rotherham Taylor Limited 21 Navigation Business Village Navigation Way Ashton-on-Ribble Preston PR2 2YP Bankers Royal Bank of Scotland, Edinburgh Virgin Money, Lancaster Sanlander, Bootle Solicitors Blackhust Budd Solicitors 22 Edward Street Blackpool FY1 1BA 12
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Opinion We have audited the financial statements of International Aid Trust (the 'charitable company,) for the year ended 31 December 2023 which comprise the Statemenl of Financial Activities (including the Income and Expenditure AGGount), the Balance Sheet. statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and applieAlion of resources. including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 13
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unrtaintieS relating to events or conditions that, individually or collectively. may Gast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sections of this report. Other informatlon The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements, and our auditor's report thereon. Our opinion on the financial statements does not cover Ihe other information and. except to th8 extent othenvise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audil of Ihe financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other Information. we are required to report that fact. We have nothing to report in this regard. 14
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 310ECEMBER 2023 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report, which includes the directors. report prepared for company law purposes, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors, report included within the trustees. report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the charitable company and its environment obtained during the audit, we have not identified material misstatements in the trustees, report. We have nothing to report with respect to the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept. or relums adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and relums: or rtain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies. regime and take advantage of the small companies. exemptions in preparing the trustees. report and from the requirement to prepare 8 Stralegic report. 15
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Responsibilities of trustees As explained more fully in the trustees. responsibilities statement set out on page 11. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements. for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing Ihe financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charltable company, to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate. they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud. is detailed below. 16
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Explanation as to what extent the audit was considered capable of detecting irregularities. including fraud The objectives of our audit in respect of fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011. the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with govemance and obtaining additional corroborative eviden as required. 17
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Explanation as to what extent the audit was conslderod capable of detecting irregularities, includlng fraud (continued) As part of an audil in accordance with ISAS (UK) we exercise professional judgement and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material rnisstalement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery. intentional omissions, misrepresentations. or the override of internal control. Obtain an understanding of internal control relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audil evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure, and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 18
INTERNATIONAL AID TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBER OF INTERNATIONAL AID TRUST FOR YEAR ENDED 31 DECEMBER 2023 Use of our report This report is made solely to the charitsble company's members, as a body, in accordane with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. for our audit work, for his report, or for the opinions we have formed. Nlcholas Smith (Senior Statutory Auditor) For and on behalf of Rotherham Taylor Limiled, Statutory Auditor Chartered Accountants 21 Navigation Business Village Navigation Way Ashton-on-Ribble Preston PR2 2YP 30 September 2024 19
INTERNATIONAL AID TRUST STATEMENT OF FINANCIAL ACTivrriES {INCORPORATING INCOME AND EXPENDITURE ACCOUIffj YEAR ENDED 31 DECEMBER 2023 Unrestricted Restrlcted Total Funds Total Funds Funds Funds 2023 2022 Income from: Donations and legacies other trading activities Investrnents 167,664 751,250 5,613 228,221 396.886 751.250 5.613 536,308 6C6.947 743 Total income 924,527 228,221 1.152.748 1,143.998 Expenditure on: Raising funds - gffts and donatlons Raising funds - trading Charitable activiiies 27,281 522,563 143,469 27,281 522,563 522,364 25.454 505,843 444,561 378,895 Total oxponditure 693,313 378.895 1.072,208 975,858 Net incomel{expendituro} 231,214 (150,674) 80.540 168.140 Transfers b8tween fun(ts 17 {167,898) 167.898 Net movement in filnds 63.316 17,224 80,540 168.140 Reconciliation of funds: Total funds at start of year 17 238.979 218,408 457,387 289.247 Total funds at end of year 17 302.295 235,632 537,927 457.387 The Charity has no recognised gains or losses other than the results for the year as set out above. All of the adivities of the charity are classed as continuing The notss on pages 23 to 34 form part of these flnancial statements See note 9 for fund-accountlng comparativo figuros 20
IKrERNATIONAL AID TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 ¢ompany nun•r. 041B7908 2022 Flx•d Assets Twgl)18 a8Sèts io 127.742 104.970 Currnnt A880ts 11 Cash at nk 41.025 451.125 491150 447,529 s.255 Credltorx . Amounts fÈllkng due one y N•t Current Assets 12 59.307} 1104.085 388.065 Cr•dltor•." Amounts falllng due after morg than one J 13 (Xl,763) (35,648) 537.927 Funds Unrestrfcied fd$ Restrict8d fund8 18 18 302.296 238,979 218A08 537.927 The trustee8 acknedge thek TBsponslbMM8s for complying with the requlrerr of thè Cryanies Act 20 wll) respecl to a¢unIlng records and the preparalk)n of accots. These ffirwKial 8latement8 have been prepared in accua81 the special prov56k8 relating lo ccfroarl subject to the small comp8nie8' rwjlme Part 15 of the Corrpanles knt 26. These fina[181 8tst•n*ts w4r8 approveAI by the truste88 on 30 Septts 2024 aYKI are signed on thelr b8hair ayl Chair Th• on pages ZJ to 34 frbrnl part of tha8• flnandal •lat•ments 21
INTERNATIONAL AID TRUST STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 2023 2022 Nolo Net cash inflow from operatlng activities Non-operational cash flows: Investing aclivitigs Purchase of fixed assets Proceeds from the sal8 of fixed assets Investment Income 15 23,120 188,685 {27,442) (41,098) 18,796 743 (23.559) 5.613 (21.829) Financing activiti88 Loan repayments Interest on loan (6,595) 1.708 (5.556) Net cash infiow for the year 16 13,596 159,570 The notes on pag88 23 to 34 forni part of these financlal Statoments 22
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 Accounting poll¢les (a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their account5 in accordance wth Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP {FRS102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 20C6). The charity is a public benefit entity as defined urKler FRS102. The trustees have prepared budgets and a forecast vthich gives them adequate Gomfort that the charitsble company is a going concern. Therefore, the ttustees are of the view that the charitable company has sufficient resources for at least the next 12 months {from date of approving the financial ststements) and that there are no material uncertainties regarding going concern. As a result, the charitable companys financial statements have been prepared on a going concem basis. (b) Income from donations and gifts is included in income en these are receivable, except as follows: l. When donors speclfy that donations given to the charity must be used in future accountlng perlods, the income is deferred until those periods. 11. When donors impose conditions lch have to be fulfilled before the Charity becomes entitled to use such income, the income Is deferred until the prtrconditions have be8n met. Donated services and facilities are included at the value to the charity if this can be quantified. The value of services provided by volunteers has not been Included in these accounts. Clothing and other items for resale through the charlty's Shops are recognised as income wthin other trading activities )fihen they are sold due to the impractlcallties of estimating the value of such stock items upon receipt. Investment income is included en receivable. Income from other trading activities is accounted for then earned. A valuation for humanitarian aid received for distribution ts excluded from the accounts due to a lack of a reliable estimate. {c) Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure on raising funds comprise the costs assoGiated attracting gifis and donations and the costs of trading for fundraising purposes including the charivs shops and fundraising events. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to su¢h activities and those 05ts of an indirect nature necessary to support them. Govemance costs include the costs relating to meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategtc management of the charity. These are included within support costs.
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 1 Accountlng pollcles (continued) All costs are allocated beeen the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated direcljy, others are apportioned on an appropriate basis as set out in note 4. Redundancy payment expenditure is recognised at the point v*hen employment is ended and ¥then the amount is calculable. (d) Fixed assets a staled at cost less accumulated deplatiOn. Depreciation is calculated so as to V•Tite off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Leasehold improvements Shop and office equipment Motor vehicles straight line over the length of the lease - 250A p.a reducing balance - 25% p.a reducing balance Assets fjth a cost exceeding £1,000 are capltalised. (e) Rentals payable under operating leases are charged against income on a stralght Ilne basis over the lease term. (fj Unrestricted funds can be used in accordance viith the charitable objects at the discretion of the Trustees. (g) Restricted funds can only be used for particular restricted purposes ythin the objects of the charity. RestrictÉons arise when Specified by the donor or when funds are raised for particular restricted purposes. Expenditure thich meets these criteria is charged to the fund, together wth a fair allocation of support costs. Further explanation of the nature and purpose of each fund is inGluded in the notes to the financial statements. (h) Monetary assets and liabilities denominated in foreign currenGies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All exchange gainsllosses are recognised in the Statement of Financial Activities. (i) The charity only has financial assets and liabilities that qualify as baslc financial instruments. Basic financial instruments are initially re¢ognised at transaction value and subsequently measured at their settlement value.
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 Donatlons and legaci•$ Unrestricted Restricted Total Funds Totsl Funds Funds Funds 2023 2022 Donations and legacies Gift Aid 104,618 63.046 218.283 9.938 322.901 72.984 477,097 59,211 167,664 228,221 395,885 536,308 Prlor year ¢omparatlves Unre8trlcted Rèstricted Totsl Funds Funds Funds 2022 Donatlons and legacies Job r8tention scheme grants Local restrlction support grants Restsrt grants Gift Aid 68.586 408.511 477.097 44.576 14,635 59,211 113,162 423.146 536.308 3 Income from: Other trading activities Unr6strictsd Restricted Totsl Funds Total Funds Funds Funds 2023 2022 Shop sales Office & vRrehouse sales & recycling credits Transport services 723,985 723.985 583.714 26,865 400 26,865 400 22.003 1.230 751.250 751,250 606,947 Prior year comparatives Unrestrlcted Restrlcted Total Fund8 Funds Funds 2022 Shop sales Office & warehous8 sales & recycling cr8dits Transport services 583.683 31 583.714 22,003 1.230 22,003 1,230 25
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL sTATEMErs YEAR ENDED 31 DECEMBER 2023 4 Total expenditu Charitable a¢tivitses 2023 2022 Grants (note 5) UK staff costs (note 7} Subsistence & travel Transport, ferries & documentation Advertising & promotional expenses Legal. audit & accountancy Premises costs & other associated costs Communications. . stationery Transport, handling & processing costs Depreciation and loss on disposal Irrecoverable VAT Bank charges Exchange gain ¢y109g 215 19 320,189 352.233 41.048 27,281 2.196 837 1.273 1.116 100 13,924 372 11.959 145 112.925 6,628 18.811 1,511 10.000 20,094 2,420 217 923 9.393 320,423 190,677 447,843 393.249 16,879 1,152 27,281 15,140 421 21,214 137,947 27,450 78,9CKJ 4,671 1,781 12,578 {466) 1.360 7,750 18.394 7,128 48.806 2.034 775 2,189 {466} 35.126 187,016 31,040 101.584 6.995 1.181 10.925 27,281 522,563 71,683 442,931 7.750 1,072,208 975,858 Prior year comparatlv•s Charltable aclivltl•s 2022 Grants (not8 5) UK staff co3ts Subsistence & travel Transport, ferries & documentstion Advertising & promotional expenses Legal. audit & accountancy Premises costs & other associated costs Communications. . ststionery Transport, handling & processing costs Depreciation and loss on disposal Irrecoverable VAT Bank charges 190,677 25,454 2,612 1,152 12 2,888 9.063 22,488 9.251 79.145 2,235 426 1,448 190.677 393.249 16,879 1.152 25,454 294.819 47.522 6,386 7.881 19 21.413 1.762 151.006 13.522 19.400 2.389 328 22.111 3.438 1.322 656 8.378 35.126 187.016 31.(140 101.584 6.995 1,181 10.925 1,099 25,454 505.843 97,710 337,788 9.063 975.858 26
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 5 Grants payable 2023 2022 IAT New Jerusalem MinistrÉes IAT Good Samaritan Foundation Odessa and Moltavilovka Churth Kiev Sierra Leone New Hope School IAT Cuba IAT Ukraine - holiday camps Various small recipients 32,251 43,539 220,702 4,495 14,500 4,936 26,598 87,898 69.996 6,185 Total grants payable 320,423 190.677 Of the grants made above, £1,600 {2022: £6,185) relates to grants made to individuals; the rèmainder were grants made to institutions. 6 Net Incomel(expendlture) for tha year This Is stated after charging: 2023 2022 Depreciation and loss on disposal Auditors'l Independent Examinerfs remuneration 4.671 - audlt - account$ preparatlon - other sep4ices 4,500 1,500 1,750 4.5(M) 1,5CK) No Trustees received any rèmuneration or were relmbursed for expenses durlng the year or during th8 prlor year. Donations from Trustees, key management personnel and related parties wer8 £18,34012022 £17,091 }. 7 Stsff costs and numbers The aggregate payroll costs were: 2023 2022 Wages and salaries Social security costs Pension Redundancy payments 414.725 27,999 5.119 362.431 20,004 3.814 7.000 447,843 393.249 No employee recelved emoluments of more than £60,000. The total employment benefits received by key management personnel were £109,124 (2022: £96.783}.
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 7 Staff costs and numbers (eonbnued) The average headcount of staff during the reporting perlod wa$ 24 (2022.. 23). In addition, a great amount of time, the value of which is not reflected in these financial statèments, is donated by tIK*usands of voluntsers throughout the UK & abroad. 8 Taxatlon The charity Is exempt from corporatlon tax on Its Charitable activities. 9 Fund-analysis compardlfvft flgures Unrestricted Restrlcted Total Funds Funds Funds 2022 Income from: Donations and legacies Other trading adivities lrnrestments 113,162 806.916 743 423,146 31 536,308 606.947 743 Total income 720,821 423,177 1,143,998 Expenditure on: Costs of genorating funds Raising funds - gifts and donatlons Raising fvnds - trading Charitable activities 25,454 505,843 153,089 25,454 505,843 444,561 291.472 Total expondlture 684,386 291,472 975,858 Net In¢omel(expenditur9) 36,435 131,705 168,140 Transfers between funds (17,1501 17.150 Net movement in funds 19,285 148.855 168,140 Reconciliation of funds.. Total funds at start of year 219,694 69.553 289,247 Total funds at end of y8ar 238,979 218,408 457,387 28
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 10 Tanglble fixed assets Shop a offlc• equipment Leasehold Improvements Motor Vehlcles Totsl Cost At 1 January 2023 Additions Disposals 102.370 21.443 38.182 18.390 158,942 27,443 At 31 December2023 123,813 38,182 24,390 186,385 Depreciation At 1 January 2023 Charge for the year Disposals 4,455 2.436 35.251 732 14.266 1,503 53.972 4.671 At 31 December 2023 6,891 35,983 15,769 58.843 Net book value At 31 December 2023 118,922 2.199 8,621 127,742 At 31 December 2022 97.915 2,931 4.124 104,970 11 Debtors 2023 2022 Other debtors Pr8payments & accrued income 5,764 46,962 6.861 34.164 52,726 41,025 12 Credltors: amounts falllng due withln one year 2023 2022 Trade creditors Other Creditors Taxes and so¢lal security costs Accruals & deferred Income Bank loan 25.951 11.933 44.322 41.141 5,526 7.540 5.556 15.868 5,555 59,307 104,085 29
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER2023 13 Credltors: amounts falling due after mor• than one year 2023 2022 Bank loan 30,763 35,648 30,763 35,648 The Bank Loan is a Bounce Bank Loan repayable over 10 y8ars under the Government-sponsoTed Bounce Bank Loan Scheme. 14 Commltments At 31 December 2023 the company had totsl commitments. under nonwcancellable operating leases paid as follovts: Land & bulldings Total 2023 Total 2022 Within one year Beeen Iwo & fwe years 55,050 105,367 55.050 105,367 58.100 130.6IJ) Th6 operating lease payments recognised as an expense in the year amounted to £87,033 (2022: £115.881). At 31 December 2022 the company had total commitrnents. under non-cancellable operating leases paid as follows: Land & bulldings Total 2022 Wthin one year Between two & five years 58.100 130.6CK) 68,100 130,600 15 Reconclllalion of net movement in funds to net cash inflow from operating activltles 2023 2022 Statement of Financial Activities.. Net movement in funds Investment Income Depreciation Loss on disposal of tangible fixed asset Movement in creditors Movement in deblors 80,540 (5.613) 4,671 168,140 (743) 6.190 805 25,665 (11,372) (44,777) (12,069) Net cash inflow from oparating activltles 22,752 188,685
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER2023 16 Anaty8ls of change In ¢a$h durlng the year 2023 2022 Change Cash at bank 447,529 451,125 {3,596> Unaudited 2021 2022 Change Cash at bank 451,125 291,555 159,570 17 Movement In funds At1Jan 2023 At 31 Dec 2023 Income Expenditure Trdnsfers Restricted funds Famity sponsorshlp Indla Sierra Leone New Hope School Chlldren'$ holiday camps Philippines Blbles Réach International Small grants Small otherfunds Wirtual Shoeboxes Croft Mill Appeal Mcldova Turkey Cuba 128,668 (438) 72,819 730 {435) 1.528 2,493 149) 53,193 {112,202) (30,117) {225,057) 70,179 28,422 71,072 139,836 219 34,455 1,180 730 181 2,993 115.621 {3,335> {2,255} 888 1175) 225 1.615 15.384 {3.907) {7881 {4711 1,611 46,716 5,780 1,082 31,803 9,687 1,082 5.363 14,4951 218.408 228,221 {378,895 167,898 235.632 Unrestrkied funds Fixed asset designated fund Free reserves 104.970 134,009 (4,670) 27,442 {688,643) (195.340) 127.742 174.553 924,527 238,979 924,527 {693,313 (167,898) 302.295 Total funds 457,387 1,152,748 1,072,208 537,927 31
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 17 Movement In fund8 {contlnued) Prior year ¢omparallvos At1Jan 2022 At31D 2022 Income Exp8ndltur• Trdnsfer8 Restricted funds Famity sponsorship India Slerra Leone New Hope School Children's holiday camps Philippines Bbles Reach International Small grants Small other funds VrtU81 Shoeboxes Croft Mill Appeal Moldova 296.595 5.713 95.741 450 3,250 906 500 (173,952) 125,838) (76,284) {3,769) {3,685} 1500) 6,021 19,496 7,291 128,665 (436} 72,819 730 (435) 1.528 2.493 (49) 193 46,071 4,049 1.122 1.993 1455) 406 {284) 1.231 16.291 2,500 12601 1,546 (8,2751 1.615 15.384 (3.906) 15,196 (17.649) 1.869 69,553 423.177 1291,472 17,150 218,408 Unrestrlcted funds Fixed asset designated fund Free res8p4es 87,683 132.031 (6,190) 1878,1961 23,497 140,647> 104,970 134.009 720.821 219,694 720.821 (684,386 117,1501 238,979 Totsl funds 289,247 1,143,998 {975,858) 457,387 Purpose of restrlcted funds Farnily sponsorship - IAT'S scheme linking sponsors in the UK to needy families and individuals in Ukraine. Harvest orphanage - Orphanage in Sri Lanka for children orphaned by the 2004 Boxing Day Tsunami or frorn the Tarnil uprising. India (New Jerusalem Ministries) - Education, orphans and ministry to the poor across four states In Southem India, induding sponsorship of a number of church pastors. Slerra Leone New Hope School - Educating, feeding, health care and pastoral vmrk In the community; sponsorship of a number of famllles,. constru¢lion of homes lor families to host children orphaned by the recent Ebola outbreak in Wesl Africa. Chiklren's hollday Camps - Providing summer holidays for needy children in Ukraina. 32
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 17 Movement in funds (conflnuod) Philippines- Provision of humanitarian aid and relief of suffering caused by natural disasters In the Philippine$. Bbles - Provision of Bibles to India. Reackn International - a partner church working principalty in Belarus to relieve suffering and poverty. Small grants- small grants to needy individuals and families wherever we wor Small other funds- through donations and onewoff donations which do not fit within existing funds. virtual Shoeboxes - Providing shoeboxes or bags lo needy people in Ukraine. India arKI Sierra Leone using locally- sourGed materials. Croft Mill Appeal- Funding for upgrading our new Headquarters in Chorfey to provide facilities for our supporters and for local communty group use. Moldova fund - A netrmk of church's working in Moldova to relieve suffering and povety through the provision of humanitarian aid. Turkey Fund - Response from donors to earthquake appeal Cuba Fund -Provision of food for distribution to the local churchès 18 Anatysls of nèt assets between restrfcted and unre$tri¢ted funds Tangible Fixed assets Other Current Long term assets Creditors Cash at bank Year end 31 Docomber 2023 Total Restricted funds Unrestricted funds Fixed asset designated fund Free reserves 235,632 235.632 127.742 127.742 174.553 211,897 {6.581) (30.763) 127.742 447,529 {6.581) 30.763) 537,927 Tangible Flxed assets Cash at bank Current Long terni assets Credltors Year end 31 December 2022 Totsl Restrtcted funds Unrestrictéd funds Fixed asset designated fund Free reserves 218,408 218,408 104.970 104,970 134,009 232,717 {63,060) (35.848) 104,970 451,125 (63,060) (35.648 457,387 33
INTERNATIONAL AID TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023 19 Company Ilmited by guarantee The company is limited by guarantee and as suth has no Issued share capital. In the event of the company b8ing wound up the liabilty of the members is limited to £10 each. 34