**Charity Registration No. 1093966** ## **AIDS ARK** **TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MAY 2024** ## **AIDS ARK** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **----- Start of picture text -----**
Trustees David Primost
Martin J Franklin
Dr Edmund Wilkins
Charity number 1093966
Registered office 98 West Heath Road
London
NW3 7TU
Independent examiner Christopher Bates FCA
Begbies
9 Bonhill Street
London
EC2A 4DJ
Bankers HSBC
166 Vauxhall Road
London
SW1V 2RB
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## **AIDS ARK** ## **CONTENTS** **----- Start of picture text -----**
Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Statement of financial position 5
Note to the financial statements 6 - 9
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**TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2024** ## **AIDS ARK** The trustees present their report and financial statements for the year ended 31 May 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 governing document, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016). ## **Objectives and activities** The charity's objects are to relieve need among people subject to or affected by Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS) and connected or similar conditions by providing or assisting in the provision of medical treatment and facilities in countries where such treatments are not available. Aids Ark is an unincorporated charitable trust governed by its Declaration of Trust dated 24 September 2002. The trust deed establishes the objects and powers of the charity. The trust deed states that the full number of trustees shall be a minimum of three and a maximum of seven. The first trustees are entitled to hold office for life. Future trustees must be appointed by resolution of the trustees under a meeting, determined by a majority of votes. New trustees are briefed on their legal obligations under Charity Law and the Charity Commission guidance on public benefit. ## **Review of activities** AIDS Ark generates income primarily through fundraising. The charity aims to save lives by enabling access to HIV medication and associated care at the frontiers of the developing world. It works to identify suitable medical clinics in remote regions that treat HIV positive patients. Continued efforts are made in identifying new Non-Governmental Organisations whose needs meet the objects of the charity. ## **Public benefit** The Board of Trustees confirm that they have given due regard to the Charity Commission's legislative and regulatory requirements to comply with Section 17 of the Charities Act 2011. ## **Trustees** The trustees who served during the year were: David Primost Martin J Franklin Dr Edmund Wilkins 1 AIDS ARK TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2024 Flnanclal revlew The net increase in funds for the year was £8.95212023'. £3,430 net decrease) bringing the total reserves carried forward to £98,60812023'. £89.654). It is the poli¢y of the charity that the rese￿aS should provide the charity with adequate finan¢lal stability and the means for rt to meet its ¢harrtable objectives for the foreseeable fU￿re. The trustees consider that reserves at this level wth ensure that in the event of a siwificant drop in funding, they wll be able to continue the charity's Current aGtivities while Gonsideration is given to wayE in which addtional funds may be rgised. Plans for the fijture AIDS Ark plans to continue In Its pursuit to save as many lives as it Can by funding the supply of life saving Triple combin8b.on Ants. Retro Virals {ARVsl for those who are unable to a¢¢ess Ihis proven lrfe saving medication. and identifying suitable initiatives to treat and care for those In suth need. Use of volunteers All the trustses of the company donate their servi¢e$ without ch8rg8. The Company often also relies on 1h contribution of unpard general voluntsers in carrying out its acts'vities. The directors have ¢onsider8d lJ)e specSflc provisions regarding the valuation of donated iterns and services and concluded that placing a monetary value on thoir contribution would not be possible or 4)propri8te. Rlsk statement The major risks to which the charity is exposed. as identified by the trustses, havo been reviewed and systefff& or procedures have been estsblished to manage those risks. The trustees, report W89 approved by the Board of Trustees. Davld Prlmost Trustee 24 March 2025 ## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF AIDS ARK** I report to the trustee on my examination of the financial statements of AIDS Ark (the charity) for the year ended 31 May 2024, which are set out on pages 4 to 9. These financial statements have been prepared under the accounting policies set out therein. This report is made solely to the trustees in accordance with Sections 144-147 and 151-155 of the Charities Act 2011 (the 2011 Act). My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an Independent Examiners' Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees for my examination work. ## **Responsibilities and basis of report** As the charity’s trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the financial statements of the charity carried out under section 145 of 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** 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: - 1) the accounting records were not kept in accordance with section 130 of the Charities Act; or - 2) the financial statements did not accord with the accounting records; or - 3) the financial statements 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 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. ## **Christopher Bates FCA** 24 March 2025 **Begbies Chartered Accountants** 9 Bonhill Street London EC2A 4DJ 3 ## **AIDS ARK** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024** **----- Start of picture text -----**
Unrestricted Unrestricted
general general
fund fund
2024 2023
Notes £ £
INCOME FROM:
Donations 2 42,083 43,009
- -
Other trading activities
Investments: Bank interest 1,149 242
Other - 1
Total income 43,232 43,252
EXPENDITURE ON:
Raising funds 4 1,214 1,918
Charitable activities:
Grantmaking 3 33,066 37,904
Total expenditure 34,280 39,822
NET (EXPENDITURE) AND NET MOVEMENT IN FUNDS
FOR THE YEAR 8,952 3,430
Total funds brought forward 89,654 86,224
Total funds carried forward 9 98,606 89,654
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4 AIDS ARK BALANCE SHEET AS AT 31 MAY 2024 Note$ 2024 2023 CURRENT ASSETS Debtors Cash * bank and in hand 2,694 99,262 2.060 89,294 101,956 91.354 LIABILITIES Creditors falling due wtthin one year (3,350) 11,700) Total assets less current IlablllUe$ 98.6C6 89,654 THE FUNDS OF THE CHARI Unrestricted funds 98,606 89,654 The flnancial statements were approved by Ihe Board and thortsed for Issue on 24 March 2025 and are signed on its behalf by.. Davld Prlmost Trustee Charlty Reglstratlon No: 1093966 ## **AIDS ARK** ## **NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024** ## **1 Accounting policies** ## **Charity information** AIDS Ark is an unincorporated charity registered in England & Wales. The registered office is 98 West Heath Road, London NW3 7TU. ## **1.1 Basis of preparation** These financial statements have been prepared under the historical cost convention and in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)" (as amended for accounting periods commencing from 1 January 2016. The charity is a public benefit entity as defined by FRS102. 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 £. ## **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 and on this basis the charity is a going concern. ## **1.2 Income** Income is recognised when the charity is legally entitled to the funds, any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received. Donations are recognised when the charity has notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions will be fulfilled in the reporting period. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## **Donated services and facilities** Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Trustees is not recognised. Refer to the Report of the General Council for more information about their contribution. 6 ## **AIDS ARK** ## **NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024** ## **1.3 Expenditure and irrecoverable VAT** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Costs of raising funds comprise the costs seeking donations and their associated support costs. - Expenditure on charitable activities includes grants made, governance costs and an apportionment of support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **Allocation of support and governance costs** Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examiners' fees. The bases on which support and governance costs have been allocated are set out in note 4. ## **1.4 Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.5 Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of six months or less from the date of acquisition or opening of the deposit or similar account. ## **1.6 Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **1.7 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. ## **1.8 Charitable funds** The funds of the charity are classified as general and are all unrestricted and expendable at the discretion of the Trustees in furtherance of the objects of the charity. ## **1.9 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 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. 7 ## **AIDS ARK** ## **NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024** ## **2 Income from donations** |Donations
During the year, the trustees made donations totalling £3,607 (2023: £5,150).|**2024**
**£**
42,083|**2023**
**£**
43,009| |---|---|---| ## **3 Grant-making** **2024 2023 £ £** The charity undertakes its charitable activities through grant making in furtherance of its charitable activities. Grants were awarded towards medical supplies and treatment against HIV/AIDS to the following institutions: |Baphumelele Waldorf Association, South Africa
Stichting Medical Action Myanmar, Myanmar
Dhammayietra Mongkol Borei, Cambodia
FXB India Suraksha
Beth Goldring
ARV Users Association, Cambodia
Partners in Compassion, Cambodia
Associated support and governance costs
Note 4|5,615
15,371
-
-
403
2,801
8,051
32,241
825
33,066|9,538
16,081
3,737
-
-
-
7,488
36,844
1,060
37,904| |---|---|---| ## **4 Analysis of support and governance costs** The charity apportions its support costs and governance costs between the key activities undertaken in the year. The table below shows the basis for apportionment and the analysis of support and governance costs. |Support costs:
Bank and donation processing charges
Sundry
Governance costs:
Independent examiners' fee
Total|**Raising**
**funds**
**£**
389
-
825
1,214|**Grant-**
**making**
**£**
-
-
825
825|**Total**
Basis of
allocation
**£**
389
Direct
-
Direct
1,650
Activity
2,039| |---|---|---|---| ## **5 Trustees' remuneration and benefits** Neither the trustees nor any persons connected with them were paid any remuneration or expenses by the charity during the year (2022: £nil). ## **6 Taxation** The charity is exempt from income tax on its charitable activities. 8 ## **AIDS ARK** ## **NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 MAY 2024** ## **7 Debtors** Debtors relate to income tax reclaimable on donations received by the charity. ## **8 Creditors: falling due within one year** **----- Start of picture text -----**
2024 2023
£ £
Independent examiner's fee 3,350 1,700
9 Movement in Unrestricted funds
2024 2023
£ £
Opening unrestricted funds 89,654 86,224
Net (expenditure)/income for the year 8,952 3,430
Closing unrestricted funds 98,606 89,654
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