CHAMOS - In AEd of the Children of Venezuela Reglstèred Charity No. 1123410 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS Paga Legal and Administrative Details Report of Trustees Independent Examinerfs report Balance Sheet Statement of Finanaal Activities 10-12 Notes to the Accounts CHAMOS - In Aid of the Children of Venezuela Registered Charity No. 1123410 ORGANISATIONAL PROFILE FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Chair Mariana Siblesz de Alvarez Andreina Palma Graciela Muci Maria Antonieta Rodnguez Iberia Torres-west REGISTERED OFFICE: Chamos in Aid of the Children of Venezuela 56 Sloane Square Blandel Bridge House Suite 8 London SW1W 8AX BANKERS: HSBC UK 5 Wimbledon Hill Road Wimbledon London SW19 7NF ACCOUNTANTS: Charles Osei, BSc(Hons). MSC, FCIE, AFA, ATA, MCIPP Flat 3. 11 Rochdale Way, Deptford London SE8 4LY ## **ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31[ST] 2024** In the fiscal year ending December 31st, 2024, Chamos achieved a historic milestone with gross income growing by 110% to £300,055.67, our highest annual revenue to date. This record was primarily driven by a major fundraising event held in the final quarter and successfully awarded institutional grants. Total expenses for the year amounted to £226,941.87, resulting in a net income of £73,113.80. As of December 2024, our closing account balance was £167,301.27. These results reflect our ongoing efforts to expand charitable projects, strengthen our donor base, and build a more sustainable operation for the future. ## **Income** 2024 marked a record-breaking year for Chamos, with total fundraising income reaching £300,055.67, the highest in the foundation’s history. This achievement was driven by a combination of successfully secured grants and outstanding fundraising events. These results underscore the effectiveness of our strategy: prioritizing grant applications and organizing innovative events that expand our network and connect us with new donors. In the last quarter, we raised £123,741.26 through events, including £108,855.07 from a major fundraising event co-organized with the Spanish Chamos delegation. As the event was jointly organized with the Spanish Chamos delegation, £25,681.45 of the revenues were transferred to them. The event featured a special luncheon at a prestigious restaurant, paired with a silent online auction of exclusive items donated to Chamos. The event not only exceeded all fundraising expectations but also introduced Chamos to new audiences and supporters. Additional events held in London provided visibility for our projects and created meaningful opportunities with the community to come together. These included a football tournament, a " _Canastón_ " tournament, a second-hand clothing sale, and a Christmas celebration with traditional " _Aguinaldos_ " and a Mass. Our second-largest source of income came from institutional grants, £109,075.50 (36% of our total income). This represents a major success for Chamos, with successful applications to foundations such as Global Giving, the Jephcott Charitable Trust, and Procter & Gamble. These grants had a significant impact on the continuity of our health and education programs. Individual and corporate donations accounted for 22% of our income, reaching £67,238.91. Of this amount, £44,216.79 came from individual donors, 63% donated through our various digital platforms that allow us to connect with donors globally. CHAMOS – In Aid of the Children of Venezuela. All Rights Reserved Registered Charity Number 1123410 www.chamos.org.uk The following charts provide a detailed breakdown of income sources and trends since 2020, clearly showing that 2024 was a landmark year for Chamos and reinforcing the value of our strategic focus on grant writing and meaningful engagement events. CHAMOS – In Aid of the Children of Venezuela. All Rights Reserved Registered Charity Number 1123410 www.chamos.org.uk CHAMOS – In Aid of the Children of Venezuela. All Rights Reserved Registered Charity Number 1123410 www.chamos.org.uk The record net profit achieved in 2024—£73,113.80—was the result of mission-aligned spending and rigorous financial oversight. Combined with retained earnings from previous years, Chamos UK closed the year with a cumulative net income of £167,301. This strong financial position provides Chamos with essential resources to sustain and expand our impact, ensuring continued support for the children and young people who need it most. CHAMOS – In Aid of the Children of Venezuela. All Rights Reserved Registered Charity Number 1123410 www.chamos.org.uk CHAMOS - In Aid of the Children of Venezuela Registered Charity No. 1123410 INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES OF THE CHAMOS IN AID OF THE CHILDREN OF VENEZUELA I report on the financial statements for the year ended 31 December 2024 set out on pages 8 - 12. This report is made solely to the Trustees of The Brookfield Primary School Association, as a body. in accordance with regulats'ons made under section 145 of the Charib'es Act 2011 and Chanty SORP {frsse). My work has been undertaken so that I might state to the Trustees matters l am wuired to state to them in an Independent Examinerfs report and for no other purpose. To the fulFest extent permitted by law. I do not accept or assume responsibility to anyone other than the Chanty and Charitrfs trustees for my independent examination work. for this report, or for the statement I have given below. Respectlve responsibilitie8 of Trustees and Independent examiner As charity trustees, for the puq)oses of charity law, are responsible for the preparation of the financial statements, the Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examinats'on is needed. Having satisfied myself that the Charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibilty to.. a) examine the accounts under sectÉon 145 of the 2011 Ac( b) follow the procedu￿$ laid down in the general Directions gNen by the Chanty Commissioners under section 145(5){b) of the 2011 Act; and c) state whether particular matters have come to my attention. 8a8ls of Ind•p•ndent oxaminerfs Statement My examination was carried out in accordance with the general Directions given by the CharFty Commi88ion. An examination includes a ￿VIeW of the accounts'ng records kept by the Charity, and a comparison of the accounts presented wrth those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees Con￿mIng 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 Vie%￿ and the reports limrted to those matters set out in the statement on the next page. **CHAMOS - In Aid of the Children of Venezuela** **Registered Charity No. 1123410** ## **INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES OF THE CHAMOS IN AID OF THE CHILDREN OF VENEZUELA** ## **lndependent examiner's statement** In connection with my examination, no matter has come to my attention: - 1) which gives me reasonable cause to believe that in any material respect the requirements - a) to keep accounting records in accordance with Section 130 of the Charities Act; and - b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - 2) to which, in my opinion, attention should be drawn in arder to enable a proper understanding of the accounts to be reached. Charles Osei, BSc (Hans), MSc, FCIE, AFA, ATA , MCIPP Flat 3, 11 Rochdale Way Deptford London SE8 4L Y Date: 28th July 2025 7 ## **CHAMOS - In Aid of the Children of Venezuela** ## **Registered Charity No. 1123410** |**BALANCE SHEET**|||| |---|---|---|---| |**AS AT 31 DECEMBER 2024**|||| ||**Notes**|**2023/24**|**2022/23**| |Fixed Assets|||| |Current Assets|||| |Cash at Bank and in hand|2|167,301|94,187| |Creditors: Amount due within One Year|||| |Net Assets/Liabilities||**167,301**|**94,187**| |**Reserves**|||| |General Funds||52,201|| |Restricted Funds:||115,100|94,187| |||**167,301**|**94,187**| |Approved by the Management Committee on|17thJuly 2025||| Approved by the Management Committee on and signed on their behalf by: Lo Mariana Siblesz de Alvarez **Chair** 8 CHAMOS - In Aid of the Children of Venezuela R•gistered Charity No. 1123410 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2023124 2022123 Unrestrict•d Restrfcted Nots8 Funds Funds Total Funds Total Funds Resource8 Arislng Donations 23.684 43.555 67,239 150,824 Indivdual Grants 109,076 109.076 20,314 Events and Other 123,741 123,741 15,747 Total Income 147,425 152.631 300,056 186,885 Dlrect Charltable Expendlture 95,224 131.718 226,942 154,371 Total Expendlturn 95,224 131,718 226,942 154,371 Re8ource8 rOtaIn￿ for further use 52,201 20,913 73,114 32,514 Transfer between Fund8 Net Movement In Fund8 Roconciliatlons of Funds Brought forward 0110912022 94,187 94.187 81,673 Carrlod fonp•ard 3110812023 62.201 116,100 167 301 CHAMOS - In Aid of the Children of Venezuela Registered Charity No. 1123410 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DEMBER 2024 1. Accounting Policies Basls of Preparation. These accounts have been prepared on an accrual basis and include income and expenditure as they are earned or incurred. rather than as cash received or paid. Reference to the "Charib'es SORP" refers to the Charites SORP (FRS 102).. Accounting and Reporting by Charib'es: Statement of Recommended Practice applicable to charits'es preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland. 2nd edrtK)n effective 1 January 2019, and in accordance with the Companies Act 2006. la. Income All income is recgnised once the Charity has enb'tllement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activtss on a receivable basis. The balance of income received for specific purF)oses but not explended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entrtlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entrtlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Grfl Aid or deeds of covenant is ￿CogniSed at the time of the donats'on. Income tax recoverable in relats'on to investment income is recognised at the b'me the investment income is receivable. 1 b. Expondlture Expenditu￿ is recognised once there is a legal or consrtructive obligation to transfer ecenomic benefit to a third paty, it is possible that a transfer of economic benefits will be required in settlement and tho amount of the obligats'on can be measured reliably. Expenditure on charitable activitres is incurred on directly undertakn'ng the actsvth'es which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1 c. Govemmont grants Government grants are credited to the Statement of financial activfties as the related expendtture is incurred. 1d. Fund accounting Unrestricted Funds are receivable or generated for the objects of the charity without further specified purpose and are available as general funds. Restricted Funds are subjected to restrictions on their expenditure imposed by the donor. Designated Funds are unrestricted funds but eannarked by the trustees for particubar purposes. 10 CHAMOS - In Aid of the Children of Venezuela Registered Charity No. 1123410 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DEMBER 2024 10. Taxatlon The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of trhe Finance Act 2010 and therefore it meets the definition of a charrtable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in ￿SpeCt of income or capitsl gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the e>2tent that such income or gains are applied exclusively to charitable purposes. If. Debtor8 Trade and other debtors are rcognised at the settlement amount. Prepayments are valued at amount prepaid. lg. Cash at bank and In hand Cash at bank and in hand indudes cash and short-temi highly liquid investments wth a short matuity of three months or less from the date of acquisrtion or ¢yJeninig of the deposit or simiEar account. 1h. Llabllltles and provlslon$ Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity ants'cipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services rt must prowde. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is matenal, the provision is based on the p￿sent value of those amounts, discounted at the pr&tax discount rate that refiects the risks specffic to the liabilty. The unwinding of the discount is recognised in the Statement of financial activth'es as a finance cosL 11. Flnancial Instruments The Charity only has financial a55ets and finanGial liabilities of a kind that qualfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the eXc￿Ption of bank loans which are susequentty measured at amortised cost using the effective interest method. 1J. Crltlcal accountlng esllmates and areas of judgem•nt Estimates and judgements are continually evaluated and a￿ based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity does not currently have any significarrt accounting ests"mates or areas of judgement. 1 k. Tangible Flxed Assets Equipment and other tangible fixed assets are capitalised when the cost is £500 or more CHAMOS - In Aid of the Children of Venezuela Reglstsred Charity No. 1123410 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3131ST DECEMBER 2024 2 Cash at Bank and Fn Hand 2023124 2022123 Current Account Savings Account Contigency Fund Total 25,568 118,954 22,779 167,301 56,072 15,773 22,343 94,187 3 Donatlon8 Unre8trlct•d Rostrlcted 2023124 2022123 Individuals Corporates In-Kind Total 23,684 20,533 16,634 6,388 43,555 44,217 16,634 6,388 67,239 150,824 23,684 150,824 4 Re8ource8 Expend Unre8tr1cted Ra8trlctod 2023124 2022123 Projects Fundraising and Developmemt Adrnin and Overrheads Totals 131,718 131,718 83,305 11,919 226.942 135,321 14,840 4,210 154,371 83,305 11,919 95.224 131.718 12