TEAMS4U THE CHARITY
FINANCIAL STATEMENTS
FOR
31 MAY 2024
Company Number 5801570 Charity Number 1114131
FINANSURE LIMITED
2 Sheppard Street, Brymbo, Wrexham, LL11 5FF
TEAMS4U THE CHARITY
FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2024
| CONTENTS | PAGES |
|---|---|
| Charity information | 1 |
| Trustees’ annual report | 2 to 9 |
| Independent examiner’sreport | 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Notes to the financial statements | 13 to 19 |
Page 1
TEAMS4U THE CHARITY
CHARITY INFORMATION
The board of trustees Mr P Jeanes (Chair) Mr J E Harrison Mr J N C Pengelly Mrs D Parry Ms H M Strange-Rhymes (Appointed 6[th] September 2024) Dr S Enongene (Appointed 8[th] November 2024) Mr S Lauder (Appointed 8[th] November 2024) Company secretary Mr J N C Pengelly Founder & CEO Mr D Cooke Registered office Unit 8 Llay Industrial Estate Llay Wrexham LL12 0TU Independent Examiner Luke Howson MAAT Finansure Limited 2 Sheppard Street Brymbo Wrexham LL11 5FF Bankers Co-operative Bank plc Business Customer Services PO Box 250 Skelmersdale WN8 6WT
Page 2
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 MAY 2024
The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities ( effective 1 January 2019 )” (FRS 102) in preparing the annual report and financial statements of the charity.
STRUCTURE, GOVERNANCE & MANAGEMENT
Governing Document
The charity is a company limited by guarantee, incorporated on 2 May 2006, governed by its Memorandum and Articles of Association, and is a charity registered with the Charity Commission in England and Wales.
Trustees
The trustees (who are also the directors) during the year were Nick Pengelly, John Harrison, Paul Jeanes and Deborah Parry.
Trustees can be appointed at any time during the year. New Trustees would be appointed if it was felt by the existing Board that the new appointee would add value to strategic thinking and leadership. It would not normally be expected to appoint more than two new trustees at any one time because of induction and training.
The induction process for a new Trustee is as follows. A Trustee will meet with the new Trustee to explain all aspects of the Charity and to provide all relevant information regarding it. The Trustees will write to the new Trustee with a copy of the Memorandum of Association governing the Charity and a copy of the last set of accounts and Annual Review. The Trustees will also provide all assistance and information necessary for the new Trustee to become familiar with the activities of the Charity.
Organisation
The board of Trustees administers the charity. The board normally meets 4 times per year and there are sub committees which set the annual budget and oversee the monthly account reports. The chief executive is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the chief executive has delegated authority, within terms of delegation approved by the Trustees for operational matters including finance, employment and team activities.
The Charity will work with other related parties and co-operate with other organisations where and when it is deemed to be of mutual benefit and in developing and supporting the various projects.
None of our Trustees receive remuneration or other benefit from their work with the charity.
Page 3
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
Pay Policy for Senior Staff
The directors consider the Board of Directors, who are the charity’s Trustees , and the founder Mr Dave Cooke comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All Directors give their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 7 to the accounts.
The pay of all personnel is reviewed annually.
The charity has established links with Partners and organisations in several countries in Eastern Europe and Africa.
Risk Management
The trustees have a risk management strategy which comprises:-
All potential risks being categorised against high, medium or low potential levels of impact with appropriate steps to mitigate the risks being discussed and recorded.
Before any volunteers are taken abroad a thorough risk assessment is conducted including areas of activity, travelling, medical facilities, food and accommodation.
Reserves Policy
The trustees aim to maintain unrestricted reserves at a level sufficient to cover operating costs for at least 3 months. Unrestricted reserves at 31 May 2024 amounted to approximately 6 months ’ operating costs.
Page 4
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
OUR PURPOSES AND ACTIVITIES
Teams4U brings hope to children and families worldwide who find themselves in desperate and hopeless situations. Through no fault of their own, they face seemingly impossible circumstances. We work to offer them a second chance and the opportunity for a better life.
Teams4U is dedicated to transforming the lives of children and families facing adversity. Our aims are:
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Restoring Self-Worth: We empower children to recognise and appreciate their inherent value, giving them a second chance to build a brighter future.
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Developing Foundational Life Skills: Through engaging activities, including hygiene education programs, sports teams, children's activity teams, work and specialist teams, educational support and sponsorship, we equip children with the essential skills they need to thrive.
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Holistic Child Development: We focus on nurturing the physical, emotional, and wellbeing of children, creating opportunities for a future vastly different from their past.
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Sustainable Community Development: We partner with other organisations on longterm projects to alleviate distress and suffering, to build the capacity of communities to support themselves.
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Engaging UK Support and Demonstrating Public Benefit: Teams4U inspires and enables individuals in the UK to participate in our mission. We organise teams to provide resources and support, addressing both immediate needs and fostering longterm sustainable development. This engagement not only provides crucial aid but also raises awareness within the UK about the challenges faced by communities abroad.
In accordance with Charity Commission guidance on public benefit (PB2), the trustees believe that Teams4U's objects and activities clearly fulfil this requirement. Specifically, we:
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Facilitate International Trips: We organise trips to Eastern Europe and Africa, allowing volunteers to directly engage in projects, experience the local culture, and gain a deeper understanding of the issues facing these communities. These trips foster empathy and inspire continued support.
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Co-ordinate Resource Collection and Distribution: We collect and distribute essential resources, to support our projects in Africa and Eastern Europe.
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Organise Christmas Shoebox Appeals: We co-ordinate the collection and distribution of shoeboxes, bringing joy and essential gifts to children and families in need across Eastern Europe, working in partnership with local organisations.
Responding to the Crisis in Ukraine:
In response to the ongoing war in Ukraine, Teams4U continues to provide resources and vital aid to those affected.
Page 5
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
Teams4U is committed to community development, addressing a wide range of needs through targeted programs and initiatives including:
-
Volunteer Engagement: Volunteers are essential to our work. During the year, we benefitted from an incredible 35,000 hours of volunteer service and 3,500 hours of dedicated trustee time. We are deeply grateful for their invaluable contributions.
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Education: We believe education is key to breaking the cycle of poverty. Our education programs include:
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Sponsorship: Providing financial support to enable children to access quality education. We also invest in teacher development to enhance the learning experience.
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Resource Provision: Supplying essential educational resources such as stationery, textbooks, uniforms and sports kits. We also support the construction and development of educational facilities.
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Community Support: We empower communities by providing essential resources and support:
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Resource Distribution: Through donations and volunteer support, we distribute food, clothing, and healthcare items to communities in need.
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Infrastructure Development: We assist in the refurbishment of community buildings and facilities, creating spaces for growth and development.
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Community Empowerment: Our teams foster a sense of belonging and unity within communities, reinforcing positive social values and encouraging acceptance. The regular presence of volunteers provides encouragement and motivation to our local partners.
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Sustainable Livelihoods: We go beyond short-term solutions by supporting sustainable economic development. Our initiatives include agricultural programs and skills training, empowering individuals to generate income and provide for their families.
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• Health and Hygiene: We address critical health and hygiene challenges through our Develop with Dignity and WASH programs, alongside targeted fundraising. These initiatives focus on education, improved facilities, and the provision of essential supplies to combat poor hygiene and limited access to healthcare.
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Local Organisational Development: We strengthen our partner organisations through capacity building initiatives. Our specialist teams provide training and mentoring in areas such as business management, teaching and medical care, ensuring the long-term sustainability of their work.
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Partnerships: We work in close partnership with established local organisations worldwide. We believe these organisations are best positioned to understand the specific needs of their communities. Our approach is to support their vision and enhance their effectiveness, rather than dictating solutions. We also facilitate networking opportunities for local organisations to connect and support one another.
Page 6
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
OVERSEAS PARTNERS
Raul Gherle - ROMANIA
A long-time social worker, Raul has dedicated himself to improving the lives of homeless individuals. He provides essential resources, including food, clothing, toiletries and assistance obtaining ID cards for medical care and benefits. Based at "The Hub" in Oradea City, he runs "Lunch with a Stranger" and aspires to open a night shelter. He also collaborates with Team4U on shoebox distributions and has overseen the construction of a community room in Suncuis, where children will receive homework support from volunteer teacher Lidia Anca.
Vova Horelov – UKRAINE
Before the conflict in Ukraine Vova was a successful farmer in Mariupol. On the outbreak of wawr Vova was involved with assisting the evacuation efforts from the city. He now coordinates an aid relief project across Ukraine with several vehicles that travel into Europe collecting donations and distributing around Ukraine to the poorest and most war-torn areas.
Dima & Katya Natchyma – BELARUS
In Belarus, Katya and Dima dedicate their lives to supporting vulnerable children. Dima's own experience of growing up on the streets gives him unique insight into the challenges these children face, while Katya brings a deep passion for their care. Together, they and their team provide crucial assistance to children in orphanages, single-parent families, and foster homes.
Alexandru Sanduleac – MOLDOVA
Alex’s dedication to serving others is evident in his work with Teams4u. Since Autumn 2019, he has played a key role in planning and co-ordinating shoebox distributions in Moldova. Born in Ukraine in 1973 to missionary parents, Alex's early life was marked by displacement due to Soviet persecution, leading their family to Moldova. His diverse background includes musical endeavours, having organised and conducted a 35-member church brass orchestra after graduating and moving to Cupcini.
Red Cross Society – BOSNIA and HERZEGOVINA
The Red Cross in Bosnia support us with the Shoebox campaign by distributing shoeboxes to children all over the country. We have sent teams over from the UK in 2023 and 2024 to work with the Red Cross with the distribution.
Red Cross Society – GEORGIA
The Red Cross in Georgia support us with the Shoebox campaign by distributing shoeboxes to children all over the country. These partnerships with the Red Cross have been going for many years.
Page 7
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
Benson Omoding – UGANDA
For over twelve years Ben has been a part of the Teams4U family, contributing his skills as a Certified Public Accountant. He has had the privilege of supporting Dave in managing dedicated volunteers, developing and preparing programs and overseeing all the projects in Uganda. On a personal note, he is married to Jemima Omoding and blessed with two wonderful children.
Helga Sellu – SIERRA LEONE
In Sierra Leone, where she was born and raised, Helga's work with disadvantaged young people is more than a job, it's a deep-seated passion. Leaving behind a potential career in HR, she now dedicates herself to Teams4U, overseeing a variety of in-country projects. Her home is in Freetown, shared with her new husband Mohamed and her daughter.
MAIN PROJECTS
– Shoebox Appeal Eastern Europe
From August to December, Teams4U runs its annual shoebox campaign. Volunteers fill shoeboxes with gifts for children aged 3 and up, including educational resources, toys, sweets, hats, scarves, gloves, a toothbrush and toothpaste. Shoeboxes are categorised by age (3-5, 6-11 and 12+) and include a special 'Home' shoebox. Across England and Wales, our network of volunteers tirelessly organise events, engage with schools, businesses, churches, community groups and individuals, utilising online platforms, local radio, newspapers and even BBC local news. Hundreds volunteer their time checking shoeboxes at our centres to ensure quality, while others donate items. A significant logistical operation co-ordinated the movement of boxes throughout England and Wales. For 2023, we collected 63,820 shoeboxes, which were exported to Bosnia & Herzegovina, Moldova, Ukraine, Romania and Georgia.
Africa
Uganda
Teams4U runs various projects in Uganda with the assistance of our partner charity Teams4U Uganda. These include:
– Develop Dignity a project to promote access to education for secondary school aged girls and boys through addressing period poverty, sexual reproductive health education and engaging with parents and community leaders. This also addresses attitudes to gender-based violence.
Access to water – installing clean running water in a health centre.
– Planting trees improving the learning environment in schools by planting fruit trees on school grounds.
Page 8
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
Sierra Leone
– Vocational college training a place for women to learn a trade so they can support themselves and their dependents.
– Develop Dignity a project to promote access to education for secondary school aged girls and boys through addressing period poverty, sexual reproductive health education and engaging with parents and community leaders. This also addresses attitudes to gender-based violence.
Access to water – we sent funds to our partners so they could construct a well in a village in Koindu.
– Palm oil manufacturing a business start-up loan was sent to our partner in Sierra Leone so the projects in-country can become self-supporting.
Teams4U: Highlights of Activities
Teams4U empowers individuals worldwide who wish to support communities in need by providing practical assistance. The organisation is focused on strengthening its capacity, governance and strategy to better achieve its goals. Teams4U combines the efforts of volunteers and professionals to deliver programs and projects, working in partnership with organisations across the globe.
Ukraine
Teams4U ran an Easter Egg appeal in Spring 2024 and were able to distribute 10,000 Easter Eggs to children in Ukraine, particularly focussing on areas where the war had hit hardest.
Some of the key events and trips 2023-2024
September 2023 Partner visits to Bosnia and Moldova
October 2023 Team trip to Uganda
December 2023 Shoebox distribution trips to Romania and Bosnia
February 2024: Partner visit to Belarus
March 2024: Partner visit to Sierra Leone
April 2024: Partner visit to Romania and Uganda
In addition to the above, numerous presentations, fundraisers, and media events were held.
Page 9
TEAMS4U THE CHARITY
TRUSTEES’ ANNUAL REPORT (CONTINUED)
YEAR ENDED 31 MAY 2024
Financial Review
– The charity incurred a deficit of £69,026 (2023 deficit of £107,902). Total income was £354,124 (2023 - £339,828) and total expenditure was £423,150 (2023 - £447,730).
Investment powers and policy
The Trustees, having regard to the liquidity requirements of operating the charity, have kept available funds in an interest-bearing deposit account and seek to achieve the best interest rate available.
Close Company Provisions
In the opinion of the trustees, the charity is a close company within the meaning of S414 Income and Corporation Taxes Act 1988 (as amended).
PUBLIC BENEFIT
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that year. In preparing those financial statements the trustees are required to:
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a) select suitable accounting policies and apply them consistently; b) make judgments and estimates that are reasonable and prudent;
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c) state whether the policies adopted are in accordance with the Statement of Recommended Practice, “Accounting and Rep orting by Charities (effective 1[st] January 2019 )” and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
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d) prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue operating.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
This report was approved by the trustees on ………………………………………. 17th February 2025 and is signed on their behalf by:
………………………………………. Faleanes Mr P Jeanes (Chair)
Page 10
TEAMS4U THE CHARITY
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
We report on the financial statements for the year ended 31[st] May 2024 set out on pages 11 to 19.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) or under Part 16 of the Companies Act 2006 (the Companies Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, I have reasonable cause to believe that-
-
(1) in all material respects the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act; and
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to prepare accounts in accordance with the accounting requirements of section 396 of the Companies Act and with the methods and principles of the SORP;
have been met; and
- (2) there are no material matters to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
………………………………….. - Luke Howson MAAT
Finansure Limited, 2 Sheppard Street, Brymbo, Wrexham, LL11 5FF
Date: …………………………………….. 18th February 2025
Page 11
TEAMS4U THE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MAY 2024
| Unrestricted | Restricted | Totals | Totals | ||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| Note | £ | £ | £ | £ | |
| INCOME FROM | |||||
| Donations | 2 | 214,033 | 96,119 | 310,152 | 298,783 |
| Charitable activities | 3 | 42,637 | - | 42,637 | 39,971 |
| Investments | 1,335 | - | 1,335 | 1,074 | |
| ─── | ─── | ─── | ─── | ||
| TOTAL INCOMING RESOURCES | 258,005 | 96,119 | 354,124 | 339,828 | |
| ─── | ─── | ─── | ─── | ||
| RESOURCES EXPENDED | |||||
| Costs of raising funds | 4 | 31,522 | - | 31,522 | 37,473 |
| Charitable activities | 5 | 326,491 | 82,545 | 391,628 | 410,257 |
| ─── | ─── | ─── | ─── | ||
| TOTAL RESOURCES EXPENDED | 340,605 | 82,545 | 423,150 | 447,730 | |
| ─── | ─── | ─── | ─── | ||
| NET INCOME / (EXPENDITURE) | |||||
| FOR THE YEAR | (82,600) | 13,574 | (69,026) | (107,902) | |
| Transfers between funds | - | - | - | - | |
| ─── | ─── | ─── | ─── | ||
| Net movement in funds | (82,600) | 13,574 | (69,026) | (107,902) | |
| Balances brought forward (restated) | 121,284 | 36,602 | 157,886 | 265,788 | |
| ─── | ─── | ─── | ─── | ||
| Balances carried forward | 38,684 | 50,176 | 88,860 | 157,886 | |
| ─── | ─── | ─── | ─── |
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 13 to 19 form part of these financial statements.
Page 12
TEAMS4U THE CHARITY
BALANCE SHEET
31 MAY 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | 10 | 22,790 | 24,444 |
| Cash at bank and in hand | 114,902 | 139,253 | |
| ─── | ─── | ||
| 137,692 | 163,967 | ||
| CREDITORS:Amounts falling | |||
| due within one year | 11 | (48,832) | (6,081) |
| ─── | ─── | ||
| NET ASSETS | 12 | 88,860 | 157,886 |
| ─── | ─── | ||
| FUNDS | |||
| General reserves | 13 | 13,684 | 89,341 |
| Designated funds | 13 | 25,000 | 31,943 |
| Restricted funds | 13 | 50,176 | 36,602 |
| ─── | ─── | ||
| TOTAL FUNDS | 88,860 | 157,886 | |
| ─── | ─── |
The trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the accounts for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The trustees acknowledge their responsibility for:
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(i) complying with the requirements of the Act with respect to accounting records and the preparation of accounts;
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(ii) preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its net incoming or outgoing resources for the financial year in accordance with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements have been prepared in accordance with the provisions for companies subject to the small companies ’ regime, and with the Financial Reporting Standard 102.
These financial statements were approved by the trustees on ……………………………………. 17th February 2025 and are signed on their behalf by:
………………………………… Mr P Jeanes (Chair)
The notes on pages 13 to 19 form part of these financial statements.
Page 13
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. ACCOUNTING POLICIES
a Basis of Preparation
The financial statements have been prepared under the historical cost convention, and in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities (effective 1 January 2019)” (FRS 102), the Charities Act, the Companies Act and applicable accounting standards. Under Financial Reporting Standard 102 (FRS 102), the charity is exempt from the requirement to prepare a cash flow statement on the grounds of its size.
b Income recognition policies
Items of income are recognised and included in the accounts when all of the following Criteria are met:-
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The charity has entitlement to the funds
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Any performance conditions attaching to the item(s) of income have been met or are fully within the control of the charity
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There is sufficient certainty that receipt of the income is considered probable
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The amount can be measured reliably
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Income received in advance for a trip or other activity is deferred until the criteria for income recognition are met
c
Donated services and facilities
Donated services and facilities are recognised in 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. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised in expenditure in the period of receipt.
d
Fund accounting
Unrestricted funds which are available to spend on activities that further any of the purposes of the charity.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Page 14
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
e Expenditure
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:-
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Costs of raising funds comprise the fundraising costs undertaken
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Expenditure on charitable activities includes the costs of trips and other educational activities undertaken to further the purposes of the charity including their associated support costs.
f Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, payroll and governance costs which support the charity’s programmes of activities. These costs have been divided between the costs of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4
g
Debtors
Debtors are recognised at their settlement amount due. Prepayments are valued at the amount prepaid.
h Cash at bank and in hand
Cash at bank and in hand includes cash and short-term investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
i 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.
Page 15
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
2. DONATIONS
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Donations | |||
| - | General | 77,316 | 71,037 |
| - | Shoeboxes | 156,253 | 147,339 |
| - | Restricted projects | 33,913 | 47,471 |
| Income tax recoverable | 17,906 | 32,937 | |
| Grants receivable: | |||
| - | WCVA |
20,000 | - |
| - | Rates |
4,764 | - |
| ─── | ─── | ||
| 310,152 | 298,783 | ||
| ─── | ─── |
3. INCOME FROM CHARITABLE ACTIVITIES
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cardboard sales | 7,211 | 4,898 |
| Team trips | 34,544 | 35,073 |
| Other income | 872 | - |
| ─── | ─── | |
| 42,637 | 39,971 | |
| ─── | ─── | |
| FUNDRAISING COSTS | ||
| 2024 | 2023 | |
| £ | £ | |
| Salaries | 17,408 | 25,097 |
| Other costs | 14,114 | 12,376 |
| ─── | ─── | |
| 31,522 | 37,473 | |
| ─── | ─── |
4. FUNDRAISING COSTS
Page 16
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
5. COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHARITY’S OBJECTS
| Activity or project | Activities undertaken directly |
Grant funding of activities (note 6) |
Support costs (note 7) |
Employee costs (note 8) |
Total 2024 |
Total 2023 |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| Shoebox project | 105,106 | 800 | 41,671 | 38,349 | 185,926 | 109,354 |
| Sierra Leone projects | 41,512 | - | 16,458 | 15,146 | 73,116 | 53,456 |
| Uganda projects | 4,031 | 41,613 | 1,598 | 1,471 | 48,713 | 110,300 |
| Eastern Europe projects | 2,893 | 10,474 | 1,147 | 1,056 | 15,570 | 59,141 |
| Cambodia projects | - | 2,600 | - | - | 2,600 | |
| Team visits | 37,303 | - | 14,790 | 13,610 | 65,703 | 78,006 |
| TOTAL | 190,845 | 55,487 | 75,664 | 69,632 | 391,628 | 410,257 |
Support costs and employee costs are allocated to projects according to direct costs incurred.
6. ANALYSIS OF GRANT FUNDING OF ACTIVITIES
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Grants to other charities (UK) | |||
| - | Shoebox project | 600 | 1,106 |
| Grants to other charities (worldwide) | |||
| - | Teams4U Uganda | 40,916 | 67,026 |
| - | Ukraine | - | 4,000 |
| - | Romania | 1,000 | 3,225 |
| Grants to individuals | |||
| - | Ukraine | 7,474 | 6,033 |
| - | Belarus | 2,000 | 3,130 |
| - | Cambodia | 2,600 | - |
| - | Uganda | 697 | 595 |
| - | UK | 200 | - |
| ─── | ─── | ||
| 55,487 | 85,115 | ||
| ─── | ─── |
Page 17
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
7. ANALYSIS OF SUPPORT COSTS
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Travel & sustenance | 15,930 | 21,375 |
| Warehouse costs | 34,776 | 33,460 |
| Website & promotion | 287 | 3,454 |
| Office & administration costs | 5,598 | 5,266 |
| Finance costs | 1,653 | 4,290 |
| Insurance | 6,623 | 4,461 |
| Bookkeeping and payroll | 7,899 | 8,202 |
| Independent examiner’s fee | 600 | 600 |
| Legal and professional fees | 2,298 | 2,343 |
| ─── | ─── | |
| 75,664 | 83,451 | |
| ─── | ─── |
8. EMPLOYEE COSTS
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Gross wages | 83,333 | 92,516 |
| Employer’s NIC | 1,934 | - |
| Employer pension contributions | 1,773 | 1,873 |
| Severance pay | - | 6,000 |
| ─── | ─── | |
| 87,040 | 100,389 | |
| ─── | ─── | |
| Costs of raising funds | 17,408 | 25,097 |
| Costs of charitable activities (note 5) | 69,632 | 75,292 |
| ─── | ─── | |
| 87,040 | 100,389 | |
| ─── | ─── |
– The average number of employees during the year was (2023 four).
No employee received employee benefits of more than £60,000.
9. TRANSACTIONS WITH TRUSTEES
The trustees did not receive remuneration or reimbursed expenses during the year.
The total aggregate donations to the charity from the Trustees during the year was £
Page 18
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
10. DEBTORS
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Prepayments | 21,327 | 768 |
| Income tax recoverable | 1,463 | 23,676 |
| ─── | ─── | |
| 22,790 | 24,444 | |
| ─── | ─── |
11. CREDITORS DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 21,924 | 2,123 |
| Income received in advance | 24,675 | - |
| Accruals | 1,154 | 1,190 |
| Other creditors | 1,080 | 2,767 |
| ─── | ─── | |
| 48,832 | 6,081 | |
| ─── | ─── |
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 31 05 2024 represented by: Cash at bank Debtors Current liabilities |
Restricted funds £ 50,176 - - 50,176 |
Unrestricted funds £ 64,726 22,790 (48,832) 38,684 |
Total £ 114,902 22,790 (48,832) |
|---|---|---|---|
| 88,860 |
Page 19
TEAMS4U THE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
13. STATEMENT OF FUNDS
| Unrestricted funds: General reserve Shoebox designated Sierra Leone designated Restricted funds: Belarus Cambodia Develop Dignity India Romania Sierra Leone Team trips Uganda Ukraine WCVA grant Total funds |
At 1 June 2023 Income Expenditure Transfers At 31 May 2024 £ £ £ £ £ 89,341 96,674 215,139 42,808 13,684 25,000 161,332 118,524 (42,808) 25,000 6,943 - 6,943 - - |
|---|---|
| 121,284 258,006 340,606 - 38,684 |
|
| 929 3,312 2,690 - 1,551 - 954 954 - - 6,167 4,464 10,615 - 16 1,210 1,320 - - 2,530 - 9,136 3,203 - 5,933 - 4,809 4,809 - - 19,335 34,554 37,303 - 16,586 - 2,399 2,399 - - 8,961 15,171 7,562 - 16,570 - 20,000 13,010 - 6,990 |
|
| 36,602 96,119 82,545 - 50,176 |
|
| 157,886 324,125 423,151 - 88,860 |