Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Charity Number: 1107800 Ron Welsh & Co Chartered Accountants Cheshire
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Contents Contents Page L¢g¢il administrative infomiation Report of the Trustees Independent examiners report Statement of financial activities Balance sheet Notes
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Page I Legal and administrative information Status The organisation is a charity. originally fonned on 27th February 2003 and registered as a charity on 26th January 2005. The charity was established under a trust deed on l Oth September 2004, as amended by a suppIL'm¢ntal deed ddLd 22nd Deccmber 2004. The charity operatcs und¢r the working name of "OAKS" RegistcrL"d &s a Charity 26th January 2005 Charity number 1107800 Tru>teeS Mrs Sue Reid Mr David Bladcn Mr Nic Phipps Opcration address Simunye Church Lane Neston Cheshire CH64 9US Bankers Virgin Money 177 Bothwell Street Glasgow G2 7ER
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Page 2 Report of the Trustees for the year ended 31st December 2024 The Trustc¢s present their Teport and the financial statements for the year ended 31 December 2024. Constitution And objects OAKS is constitutcd under a trust deed dated 10th September 2004, as amendcd by a supplemcntal deed dated 22nd December 2004 and is a registered charity (No: 1107800). The principal objcct of the ch£trity is to relieve poverty, need, hardship. sickness and distress among childrcn in Bo, SiCa L¥onc and ncighbouring villagcs. Orgydnisation The Trust¢cs of thc charity whom havc servcd during the ycar are set out on pagc l. Grant makln% policy The Trustc¢s mcct on a regular basis to considcr and review thc progress of the school and decide spcnding prioritics. Financial Revlew Th¢ Trustees are pl¢ased with the continuing perforniance of the charity as set oul in the financial statements. Reserves Policy The charity has a policy of maintaining financial reserves sulficient to cover anticipated cxpenditure for a four month period. The Trustees recognise the difFiculties involved for a small charity to maintain a steady strcam of income to maintain their reserves policy. As such the Trustees seek to operate regular fundraising events to maintain a steady and rebyular income stream. Risk Review The Trust¢¢s have examined the major risks that the charity faces and has taken steps to minimise those risks.
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Page 3 Report of the Trustees for the year ended 31st Deeember 2024; continued... Trustees responsibilities in relation to the financial statements Law applicable to charities in England and Walcs require lh¢ trustccs to prepare financial stafrmentq for each tinancial year whiLh give a true and fair view of the charity's activities during the year and of its financial position at the end of the y¢ar. In preparing those financial statements, the Irustees are required to: select suitable accounting policies and apply them consistently. mak¢ judgements and cstimates that arc rcasonablc and prud¢nt; and State whcthcr applicable accounting Standards and 8tatemcnts of recommcndcd practice have been followed subjcct to any dep<lrtures di%Llo%ed and expl(iined in the fin(incial siatements; and preparc thc financial stalcmcnl8 on thc going concern basis unlcss it is inappropriate lo assumc that the charity will continue on that basis. The trustees are responsible for maintaining proper accounting records which disclose witb rea50nablc dLLurucy at any timL thc financiJl position of the charity and to enablc thcm to ensure that the financial statem¢nts comply with the Charities Act 201 l. Thcy are also rcsponsiblc for safcbTuarding the assets ofthe charity and hcnce for taking rcasonable steps for th¢ prevention and detection of fraud and other legUlarl11es. ApprovLd by the trustccs, and Sign on their b¢half Mr David Bladen 21st May 2025.
Overseas Aid for the Kids of Sierra Leone (OAKS) Report and Financial Statements Year ended 31 December 2024 Page 4 Independent Examiners Report to the Trustees of Overseas Aid for the Kids of Sierra Leone (OAKS) I report on the financial statetncnts of the charity for thc year cnded 31 st Dec embei 2024, which set out on pages 5 to 9. Respective responsibilities of trustees and examiner ThL cliarity's trustccs are rebponsible for thc prcparation of thc financial statmcnts. Thc charity's trustces ¢onsidLr that an audit is not rcquired for this year {und¢r section 43(2) of the Charities A 1993 {IhL 1993 A¢t} and that an indcpenient cxamination is necdcd. It is my responsibility to: examinL' the financial stdtcments (undet scction 43 of the Act): and to follow thc procedurcs laid down in the general direLtions given by the Charity Commis8ion (IindLr section 43(7)(b) of the ALt)' and to sldtc whcther particular mallcrs have come to my attcntion Basis of independcnt examiners report My ex£imindtion was carried out in accordance with the generdl directions given by the Charity Commission, An cxamindtion includcs 41 review of thL' aLLounting records kLpt by the Lhiirity and a comparison of the accounts prcs¢nted with thosc rccords. It also includcs consideration of any unu5Udl itLms or di.sclosures in thc accounts. and sccking explanations from you as trustees LonLLrning any such matters. The procedures undertaken do not providL all the evidence that would be required in an audit, and consequLnily I do not express an audit opinion on the view given by the rinancial stateinents. Indepcndent examiners statement In the course of my examinalion, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements. to kecp accounting records in accordance with section 41 of the Act: and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 1993 Act, have not been met. or to which, in my opinion. attention should be drawn in order to enable a proper understan ding of the financial slatcments to be reached. Ron Welsh Chartered Accountant 21st May 2025.
Overseas Aid for the Kids of Sierra Leone (OAKS) Statement of Financial Activities Year ended 31 December 2024 Page 5 Total Funds 2024 Total , Funds 2023 Unrestricted Funds Restricted Funds Notes Incoming resources ALtivitie5 to further the charity's objcctives Donations receivable 95.293 95,293 58,480 Total incoming resourees 95,293 58,480 Resources expended Dircct charitablc expenditure Fundraising expenditure Mana&7¢ment and administration 36.391 8.554 647 36,391 8.554 647 32.472 7,068 486 Total resources expended 45,592 40.026 Net Incoming resources Net incoming for the year 49,701 49,701 18,454 Net movement in funds 49.701 49,701 Total funds at l January 2024 10 291.005 291,005 272,551 Total funds at 31 December 2024 340 706 340 706 291,005 Movements in fund are shown in note I I to the fanCIal statements.
Overseas Aid for the Kids of Sierra Leone (OAKS) Balance sheet As at 31 December 2024 Page 6 2024 2023 Note Fixed assets Tangible assets 312,455 222,661 Current assets Debtors Casli at bank and in hand 28,251 68,344 Crcditors.. amount% falling duc within one year Net current assets Total assets less current liabllltles 28.251 340,706 68.344 291.0115 Crcditorb.. ¢imounts falling due after inore Ihan one year 340 706 291,005 Unrestricted funds General fvnd Desi&Fnated fund 340.706 291,005 340.706 291,005 RLStricted funds Total funds 10 340,706 291,004 Si&vned on behalf of the trustees; Mr N Phipps Trustee 21st May 2025
Overseas Aid for the Kids of Sierra Leone (OAKS) Notes to the financial staten]ents Year ended 31 December 2024 Page 7 l Accounting policies Basis of accounting The financial statements havc been pr¢pared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). and follow the recoJ])m¢ndations in the Charities SORP. Grants are credited as income in the year in which they are receivable. Grants are not recognised as receivable until any conditions for rec¢ipt have been complied with. Wher¢ donor imposed restrictions apply to the timing of the related cxpenditure as a pre condition of its U.8e the is tr¢ated as defeed income until those restrictions are mel. Grants received for specific purpos&s are accounted for as restricled funds. RcsourLLS expended are allocated lo the particular activily where the cost relates directly to that activity. Unr¢strictcd funds arc donations and othcr incoming resources rcccivable or gencratcd for thc objccts of thc charity without furthcr sp¢cificd purpose and are available as gencrdl funds. Dcsigndted funds arc unTCStrictcd funds ¢arniarkcd by th¢ managcmcnt COTnmittcc for particular purposcs. Rcstricled fund.% are to bc used for Spccific pury)o%cs as laid down by thc donor. F.xpendilure which Inccls thesc criteria is charged to the fund, together with a fair allocation ofmanagement and support costs. Administration cxpcnditure includes all cxpcnditure not dircctly related to charitable activilics. 2 Incoming resources from activities to further the charity's objects 2024 Total 2023 Total Unrestricted Restrlcled Donations including funds raised in Sierrn L¢one 95 93 95 3 Total resources expended Direct Management Charitable and ExpLnditure Administration 2024 Total 2023 Total School runnin¥ costs School maintenance and Tepair Mcdical fecs and child suppport Tranqport and travelling costs Printing postage and stationery and sundry other Telephone intcrnet & computer maintcnance Suh-total Fundraising event costs 26,404 6,212 1.740 2,035 26,404 6,212 1,740 2.035 307 340 28,472 2.100 1,700 307 340 647 8,554 01 637 49 32,958 7,068 36.391 8,554 36.391
Overseas Aid for the Kids of Sierra Leone (OAKS) Notes to the financial statements, continued... Year ended 31 December 2024 Page 8 4 Net incoming resources for the year 2024 Total 2023 Total This is stated after Charging" Depreciation Operating lease rentals S Staff costs and numbers Stat7'costs were as t"ollows' 2024 2023 Salatics and wa&7es .Social security costs UlhLr pcnsion costs 26,404 28,472 No cxpcnscs wcrc paid io ihe Irustees in the year. The average weckly number of employccs during ihc ycar. calculated on thL basis of full iimc ¢quival¢nls was a8 follows: 2024 2023 Tcaching staff Nurs¢ Janitor Adininistration 14 14 21 6 Taxation The charity is exempt trom tax on its charitsble activities.
Overseas Aid for the Kids of Sierra Leone (OAKS) Notes to the financial statements, continued... Year ended 31 December 2024 Page 9 7 Tangible fixed assets Land and Buildings Total Cost l Janliary 2024 Additions 31 December 2024 222.661 89.794 312,455 222,661 89,794 312455 Depreciation l January 2024 CliargFL for the ycar 31 Deccmber 2024 Net book v81ue 31 December 2024 312,455 312 455 l January 2024 222 661 222,661 8 Creditors: amounts falling due withln one year 2024 2023 Triide crcditOTS Taxation and social security 9 Analysis of net assets between funds General Funds. Designated Funds Rcstricted Funds Tangible fixed assets Net current accounts 312.455 28.251 340.706 ** Movements in funds At l January 2024 Incoming Rcsourccs Outgoing 31 December Resource 2024 Unrestricted funds Designated fund General fund Total funds 291,005 291005 95,293 45,592 340.706 340 706 ** Related party transactions Thc administration of the charity is perfomed by the trustees on a voluntary basis.