THE EAN VETR Reglstered ChJrfty No. 1109593
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| The Trustees' powers to invest |
are governed by the Charities |
Act, and the current | guidance | from the | Charity | ||||||||||||
| Commission (England and Wales). Nothing |
in the | original Trust | Deed further constrains |
these | powers. | ||||||||||||
| Inves n iv |
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| ~ To protect the real |
value of the | Trusts | reserves in order to sustain |
the real | value of the grants | made | in | ||||||||||
| Ethiopia. | |||||||||||||||||
| ~ To achieve this over |
an | investment | horizon of no longer | than three to | Rive years | ||||||||||||
| ~ To avoid unnecessary risk of capital loss. |
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| kin inv nt ecisions |
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| In | setting these objectives, | the | Trustees | recognise that the size | of the | Charity | and the | funds | available | mean | that it | ||||||
| will | not usually be feasible |
to | seek professional | investment | advice. | Accordingly, they |
will | follow | the | following | |||||||
| principles in making Investment |
decisions: | ||||||||||||||||
| ~ Ensure appropriate |
diversification | ofthe | Trust's reserves across different institutions, |
having | regard | to the | |||||||||||
| size of funds available. | |||||||||||||||||
| ~ Use bank deposits |
in | preference | to investment funds where |
they | enable | investment | objectives | to | be | ||||||||
| achieved. | |||||||||||||||||
| ~ Use diversified investment funds, |
designed to meet the | needs of smaller charities. | |||||||||||||||
| ~ Have due regard to |
the | ethical investment policies ofthose institutions |
and funds. | ||||||||||||||
| The Trust will not invest in any |
organization | or Institution, which could |
be seen as creating | a | conflict | of interest | for | ||||||||||
| any of the Trustees. | |||||||||||||||||
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| M | rin rform |
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| The performance of investments |
will be monitored at regular Trustees' |
meetings, through |
the | Treasurer's | report. |
| Unrestricted | ||||
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| Notes | 2023 | 2022 | ||
| E | E | |||
| INCOME FROM | ||||
| Grants and Donations | 25,117 | 29,661 | ||
| Income from Investments | 239 | 3 | ||
| Other Trading Activities |
1,843 | 1,197 | ||
| Other Income | ||||
| Total Income | 27,199 | 30,861 | ||
| RESOURCES EXPENOED | ||||
| Raising Funds |
450 | |||
| Loss on Investments | 395 | |||
| Charitable Activities |
30073 | 29 169 | ||
| Total Expenditure | 30,920 | 29,609 | ||
| Net Income and Net Movement | in Funds | -3,721 | 1,252 | |
| Funds Brought Forward | 32,258 | 31,006 | ||
| Funds Carried Forward | E28,537 | E32,258 |
| 2. | GRANTS AND DONATIONS | 2023 | 2022 | |
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| E | E | |||
| Donors Gift Aid Recovered |
20,982 4 136 |
25,031 4 636 |
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| E25,117 | E29,661 | |||
| 3. | CHARITABLE ACTIVITIES | |||
| Grants to Organisations Blessed Ghebre Michael Catholic School |
—Bahir Dar | 12,000 | 17,000 | |
| The Lord Jesus Catholic School Zizencho, | Erndibir | 12,000 | 12,000 | |
| Holy Saviour School, Dahwan | 6,000 | |||
| St Peter and Paul School, Zalambessa | ||||
| 30,000 | 29,000 | |||
| Support Costs Sundry Costs Bank Charges |
26 49 |
120 49 |
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| TOTAL CHARITABLE ACTIVITIES | E30,075 | E29,169 |
| RRENT ASSETS | |||
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| 2023 | 2022 | ||
| E | E | ||
| Cash in bank and | at hand: | ||
| Nat West: Reserve | Account | 13,794 | 30,880 |
| Nat West: Current | Account | 1,937 | 1,262 |
| Nationwide Building Cash in hand |
Society | 12,693 113 |
116 |
| Other current assets: | |||
| Debtors | |||
| 28,537 | 32,258 |