Overseas Aid for the Kids of Sierra Leone {OAKS) Report 2nd Financial Statements Year ended 31 December 2023 Charity Number: 1107800 Ron Welsh & C Chartered Accountants Cheshire
Overseas Aid for the Kids of Sierra tthne (OAKS) Report and Financial Statements Year ended 31 December 2023 Contents Contents Page Legal and adlllitrative infolluatiun Report of thc Tru5¢ccs Independent examiners report Statement of fiJ]xncial activiti&8 Balance sheet Notes
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2023 Page I Legal and administrative inforniation St2tu$ Th¢ organisation is a charity, originally Fored on 27th Fcbniary 2003 and giste[ed &s a charity on 26th January 2005. The charity w86 esfablished under a trust deed on 10th Sq)t¢mbcr 20. as amended by a bupplemental deed dated 22nd Deecmber 2004. The charity op¢rdl¢s under the wolDg name of-OAKS-. Registered &5 a charity 26th January 25 C]wity number I1078) Trust¢¢5 Mts Sue Reld MT Nic Phipps Operation address Stmunye Church Lane Ncston Cheshtre CH64 9US Banka8 Virgin Money 177 Bothwell Street Glasgow G2 7ER
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 Deeember 2023 Page 2 Report of the Trnstees for tbe yr ended 31st December 2023 Th¢ Trustees present their report and the financial swcmcnts for the year ended 31 December 2023. Con5titutioll and objects OAKS is constitufrd under a trust deed dated 10th Semember 21K14, as amended by a supplemtal de¢d dated 22nd December 2 and is a regÉstere41 charÉty (No: 1107800). The principal objcct of th¢ charity is to lI¢v¢ wverty, Dee(t Iwdship, sickncss and distrc5s among childr¢n in Bo, Sierra Leone and neighlK)uring villages. Organisation Th¢ Trust% of the charity whom bave served during the year arc set out on pagc l. GrADt making poll¢y Th¢ Trust¢es meet on a regular basis to consider and review the progress of the school and decide spending prioritics. Financial Revie The Trustee5 are pleased with the continulng perfOrn¢e of the charity &s set out in the fiDallcial btst¥ments. Reserves Policy The charÉty has a 11¢Y of maintsining financial reserves sufficient Io COVCT anticipated eXnditUre for a four month periiml. The Trustees rccognise the difficulties involved for a small charity to maintain a steady stream of income to maintain their reseryes policy. As such the Trustees seek to operate r¢gular fidraising events io mainlain a steady and regul streoLll. Risk Review The TrLL8tees have examiucd th¢ Tnajor risk5 that the ¢lwi"ty faces and has tsken steps to minimise those risks.
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2023 Page 3 Report of the Trustee5 for the year ended 31st December 2023. Continue Tru5tee$ rfspon$ibllities in relation to the finanelal statemeDts Law applicable to charities in England and Walcs require the trustees to prqjare financial statCTncnts for each financial year which give a tDJe and fair vi¢w of the ChIty'S activities during the year and of its fllwcial posttion at the end of the year. tn preparing those financial statCEn¢nts, the trjstees are rcouiied to.. s¢l¢ci suiiable accountlDg policies and apply them consistently- mak¢ jUdgeents alld estimates that arc rcasonable and prndenL and slate whether applicable accounting standards and statements of 0ellded practice have been followed subject to )Y departures disclos and explained in the fjllallcial statements.; prepare th¢ financial st4teTnenis on the going concern basis Unl it is inappropriate to assurne that the charity will continue on that basis. Thc trustc¢s are responsible for maintaintng propcr a¢Uting trcords which disclose with reasonable ac¢urd¢y at any time the fllmllcial ]x)sition of the ¢lJarity and to enable them lo cnsure that the financial statements comply with th¢ Charities Aci 2011. They are also responsible for safcguarding the &erS of the charity and hence for taking r¢asonable steps for thc prevention and deTrction of fraud and other irregulariiies. Approvd by the trjstees. and sigt]cd ou thcir iKknlf Mrs S Reid 2nd O¢tob¢r 2024.
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2023 Page 4 Independent Ex4minen Report to the Trustees of Overse#s Ald for the Kid5 of Sierra Leone {OAKS) I rert on ihc financial st2t¢ments of thc charity frtrih¢ year cnded 3 1st D¢¢¢mber 2023, wbi¢h are sct out on PAges 5 to 9. Respe¢tive responsibilities of trll5tee8 and e]ner Th¢ Lharity's tnjstees ar¢ tcsponsible foi the preparation of the financial statm¢nts. The charity'5 trustccs consid¢r that an audit is not r¢quir¢d for this year (und¢r tion 43(2) of th¢ Cljarities Act 1993 (the 1993 Act) and that an indepentent cxamination is needcd. It is my re$ponsibility to= ¢kqmine the financial slatcmcnts (under section 43 of thc Act)" and to follow the procedur¢s laid down in the general dir¢ction5 given by the Charity Commission (under section 43{7)(b) of the AGtI- and to state whether particular Tt]attffiS have come to my attention Bs$i$ of Independent examiner5 report My examination was Carried out in accordance with the general diTe¢lions given by the Charity Cotnmi55ion. An examination includes a review of the accounting rccords kept by the charity alld a compatison of th¢ accounts pteserÈted with thosc rccords. It also includes consideration of any unusual items or disclosures in the 2ccount% and secking cxplanations from you as lrnstees coneerning any such matters. The pm¢edures underraken do not pryTrvide all the evidencc that wothd be requircd in an audit. and conscquently I do llot expEess an audit opinion on the view given by the fU)claI statements. Independent ex4miners $tstement In the course of my examination, no matter has COD)e to my attetttion.which give5 m¢ Teasonable ause to believe that in any terIal re$cl the requiremen to keep accounting recoTds in accordance with section 41 of th¢ Ac¢ and to prepare fjnancial stat¢En¢nts which accord with the ac¢ounting CordS and cOpIY with the accounting requirements of the 1993 A¢L have not been meL or to which, in my Opinio attention should be drawn in order to cnable a pN)per underth ding of the financial sthiem¢nLS to be TeaChL Ron Wtlsh Chartered Aceountsllt 2nd October 2024.
Oversegs Ald for the Kids of Sierra Leone (OAKS) Statement of Financial Activities Year ended 31 December 2023 Page 5 Total Funds 2023 Total Funds 2022 Ullrestricted Funds Restricted Funds oteg Incotning resourtes Acttvities to further the charity& objectives DonAtions receivable 58.480 58,480 56.530 Total iDcomiDg resource5 58.480 58,480 56.530 Resour¢e8 expended Direct charitable expejkditure Fundrnising expenditure Management and admirll5tration 32.472 7.068 486 32,472 7.068 486 35,130 4,263 801 Total resources eipended 40,026 40.026 40,194 Net incoming resourees et incoming for the year 18.454 18,454 16.336 Net movement in funds 18.454 18,454 16.336 Total fuDds #t l Jattu#ry 2023 10 272,551 272.551 256,215 Total fuDds at 31 December 2023 272 $51 Movements in fjjnd are shown in note I I to the financial statements.
Overseas Aid for the Kids of Sierra Leone (OAKS) Balance sheet As at 31 December 2023 Page 6 2023 2022 Note Fixed gsset5 TgibLe assets 222.661 207.661 Current Assets Debto Cash at bank and in hand 68,344 68,344 64,890 64,890 Creditors.. amounts falling due within one year Net current assets Total assets less current liabilities 68.344 291.005 64,890 272,551 CreditOTS-. amounts falling due after more than one year 272 51 Unrestricted fund5 General fund Designated fijad 291,(K)5 272,551 291,(M)5 272.551 Restricted funds Total funds 10 272 51 Sigoed on behalf of tbe trustees" Mr N Phipps Trustee 2nd October 2024
Overseas Aid for the Kids of Sierra Ikone (OAKS) Notes to the financlal statements Year ended 31 December 2023 Page 7 l Aeeounting policies Basls of accoullting The fItMncial statements have been pryrcd und¢r th¢ historical c05t c(mvention and in accordanc¢ 7th thc Financial Reporting Standard for Smaller Elltities (elTectsve April 2008). attd follow the recommendatioi)s in the Charities SORP. GraFYts are ¢redited 8s income in the year in which theyare Teceivable. Grants #re not recognised as r¢ceivablc until any collditions foi receip( have been complied with. Whcr¢ donor imposed restrictions apply to the timing of the related expenditure as a pre Condition of its use the grdllt És treated as deferred income until those restrictions are meL Grants received ftiy spccific purposes are accounted for as restricted fimds. Resources expcndcd are allocated to the particular activity where the cost relates directly to th8t activity- Unr¢btriLted funds are donations and other incoming SOurceS receivabl¢ or g¢nerated foi the objccts of the charity without rther specified PUryK)se arKI arc avatlable as general fids. Design#t¢d fun(ts are utrestricted funds earnwked by the management comFnittec for particulgr purposes. Restricted funds are to be used for specific puq)oses Is laid down by the donor. F.xwditurc which mccts these criteria is charged to the fimd. together with a fair all{101 of DLagement and support costs. Administrdtion ¢xpcn(liiurc itLLludcs dll cxpLDdiiurc lloi ditectly related to charitable activities. 2 In¢oming resources from activities to further tbe Charity's objetts 2023 Total 2022 To¢al Unrestritted Restricted Donations including fid5 raised An Sierra Leolle 3 Total resource5 expended Direct Management Chan"tabl Expenditure Administration 2023 Total 2022 To¢al School running costs Sch1 Traintenance and repair Mlca1 fcr6 an(t ¢hild suppport Tran8port and travelling costs Printing postsge and stationery and sundry other Tclcphonc intCTnei & computer maintenance Su¢011 Fundraising event wsts 28,472 2.100 .700 28,472 2,100 1,700 28,174 3,895 2,420 530 781 131 200 437 49 486 7,068 637 49 32,958 7,068 32,472 4,263
Overse2s Aid for the Kids of Sierra Leone (OAKS) Notes to the financRal 5tatellRents, Continued... Year ended 31 December 2023 Page 8 4 Net incoming resources for the year 2023 Total 2022 Total This is Stated after Charging; Depreciation Operating lease rentsls S Staff costs and numbers Staff costs were as follow 2023 2021 Salaries and WAges Social s¢¢urity costs Other pension costs 28.472 28.174 No expenses were paid to the trnstees in the year. The average weekly number of employees during the year, calculated on the basis of full time equivalents was as follows.. 2023 2021 Teaching staff Nurse Janitor Adminisltation 14 14 21 21 6 Taxation The charity is exempt from tax on its charttsble activitie5.
Overseas Aid for the Kids of Sierrn Leone (OAKS) Notes to the financial statements, continued... Year ended 31 December 2023 Page 9 7 Tanglble ed assets Iand and Buffilding5 Totsl Cost l January 2023 Additions 31 D¢eember 2023 207.661 15,000 207,661 15,000 222 661 Depreciti(trn l January 2023 ChargTe for the year 31 D¢¢¢mbcr 2023 Net book value 31 December 2023 222 661 l January 2023 203 481 203481 8 Creditors: amounts falling due within one year 2023 2022 Trade cr¢diioTS Taxation and social gecurity g ADatysis Df net assets behveen funds Gcneral Funds Dcsignatcd Funds Restricted Funds Tangible fixed assets Net current accounts 222.661 68,344 291.005 4t Movements in funds At l January 2023 Incoming Resowces Outgoing 31 December Resour¢cs 2023 Unrestricted funds Desiguatcd fund Gencral fund Total fvtLds 272,551 272 551 58,480 40,026 291,005 ** Related party transa¢tion5 Thc administration nf thc charity is Frf0md by thc trustccs on a voluntary basis.