Krasif Ald (Charltable Incorporated Organisatlon)
Flnanclal Statements
For the Year Ended 31 March 2024
Contents
Pages
2- 5 Trustees Report
Independent Examlners Report
Recelpts and Payments Account
Statement of Assets and Llabllltles, Note to the Accounts and Approval
Page11

Kraslf Ald (Charitable Incorporated Organlsatlon)
Trustees Report
For the Year Ended 31 March 2024
The trustees of the charity submit their annual report and financial statements for the year
ended 31 March 2024.
ADMINISTRATIVE INFORMATION
Charit Number
1123948
istered Office
1 B Church Street,
Cullompton,
Devon
EX15 1JU
Bank
CAF Bank Ltd
25 Kings Hlll Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Inde
endent Examiner
Phil Young
Aldridge
Trustees
Krasif Aid is run by a board of trustees who met 4 times during the year. The trustees
serving during the year were (dates of appointment shown, and dates of resignation if that
happened during the year- if not noted the trustee served throughout the year)".-
Names of Trustees..
James Chalmers
Brian Clarke
Christine Clarke
Jonathan Loescher
Gillian Winser
Gavin Owen
Rachel McKane
Page12

Kraslf Ald (Charltable Incorporated Organisation)
Trustees Report (contlnued)
For the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND INFORMATION
Trustees are appointed by the existing board of trustees.
TRUSTEES RESPONS181LITIES
The trustees are responsible for preparing the trustee's report and the financial statements in
accordance with applicable law and regulations.
The trustees are responsible for keeping adequate accounting records that are sufficient to
show and explain the charty's transactions and disclose with reasonable accuracy at any
time the financial position of the charity. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection
of fraud and other iffegularities.
PRINCIPAL ACTIVITIES
The charity was incorporated on 2nd May 2008 as a company Ilmited by guarantee. It
converted into a Charitable Incorporated Organisation on 181h January 2024.
The Objects are
to advance the Christian faith in accordan￿ with the Statement of Beliefs
appearing in the Schedule to the Constitution in Eastern Europe and in such other
parts of the world as the Charity Trustees may from time to time think fit and to
fulfil such other purposes which are exclusively charitable according to the law of
England and Wales and are connected with the charitable work of the CIO;
to relieve sickness and financial hardship and to promote and preserve good
health by the provision of funds, goods or services of any kind. including through
the provision of counselling and support in Eastern Europe and in such other parts
of the world as the Charity Trustees from time to time may think fit.,
1.3. to advance education in accordance with Christian principles by such means as
the Charity Trustees may consider appropriate including by means of establishing
and operating any educational establishment or establishments in Eastern Europe
and in such other parts of the world as the Charity Trustees may from time to time
think fit.
In setting our objectives and planning our activities the Trustees have given consideration to
the Charity Commission's guidance on public benefit.
Our M ission statement is.. Reaching out with Christian love; serving the people of Eastern
Europe.
Page13

Krasif Aid (Charitable Incorporated Organlsatlon)
Trustees Report (continued)
For the Year Ended 31 March 2024
ACHIEVEMENTS PERFORMANCE AND ACTIVITIES
The last year marked a major time of change for Krasif Aid as a charity. Our Board of
Trustees took the decision to convert the charity from a company limited by guarantee into a
Charitable Incorporated Organisation, and this was duly approved by the Charity
Commission during the year. This action was taken to simplify the administration of the
charity in the years ahead, removing the additional legal and accounting requirements of
Companies House.
In Bulgaria, following the death of our lon*term partner Genka Ivanova, the founder of
Sliven Baptist Church and the Blue House Care Centre. in February 2023. responsibility for
the future development of the Blue House now rests with the Board of Sliven Baptist Church,
with Genka's daughter, Plamena Valkov, having taken over as Director of the centre. We
continue to support our partners financially, prayerfully, and with advice and encouragement,
as they move foNard.
Many changes are being considered about the future use of the Blue House buildings, which
occupy a strategic location right in the centre of Sliven. including further development and
improvement of the Social Integration Group for people with disabilities. A Christian
bookshop with social enterprise sales, creative workshops, English lessons, and the
provision of after school I holiday programmes, are all possible with the aim of providing
sustainable income streams.
Krasif Aid Board members made several visits to Bulgaria during the year for strategic
planning meetings, and also speaking in various churches with whom we have long-temi
relationships.
Our general income as a charity continued to remain stable during the year enabling us to
continue our regular support of long-term partners and projects around Bulgaria. Our winter
support appeal raised around £7000 to provide additional support for those in need.
In Devon UK, work on community integration with the large Bulgarian Roma population who
live and work in Cullompton continued, as did care for local Ukrainian refugees who came to
the area under the government'Home for Ukraine. programme.
We also provided further fvnding for our Bulgarian partner, Sliven Congregational Church,
towards their ongoing aid trips into Ukraine taking generators, food and medical supplies to
those in need, working with local Ukrainian churches.
Promotion of the work of the charity continued through regular issues of our Krasif
Newsletters, ernails. website, and social media.
Page14

Krasif Ald (Charltable Incorporated Oryanlsatlon)
Trustees Report (continued)
For the Year Ended 31 March 2024
RISKANALYSIS
The trustees have carried out a general review and consider that there are no major risks to
its continuing for the foreseeable future.
Donations are a substantial part of the charity's income. These are primarily from a wlde
range of small donors making regular donations and this is expected to continue.
FINANCIAL REVIEW
Total receipts on unrestricted funds were £26.475 and are detailed in the financial
statements. Receipts on restricted funds were £7,552. £37968 was spent in pursuing
Krasif Aid's objects. The net result for the year was an excess of receipts over payments of
£(3.941). The balances carried forward at the end of the year were £13,556 for unrestricted
funds and £0 for restricted funds.
RESERVES POLICY
Unrestricted funds
The Board is committed to ensuring that there are sufficient reserves in unrestricted funds to
ensure that the net settlernent of all debtors and creditors, plus any costs in meeting its legal
obligations. The Board believe that it is prudent to hold a cash reserve providing working
capital to cover seasonal fluctuations in its expenditure, grants and income.
The trustees have decided that the maximum level of unrestricted resenies that should be
held should be sufficient funds to cover meet the minimum level in paragraph one of this
section plus six rnonths average expenditure plus any commitments that are awaiting for
payment to be made. Based on previous levels of activity the Trustees had resolved to try
and maintain unrestricted funds at between £10,000 and £20.000. The general unrestricted
reserves at 31 March 2024 were £ 13,556.
Restricted and Desi
nated Funds
The funds held in designated accounts will be reviewed every year to ensure that they are
still appropriate and in line with the charity's strategy and policy and any surplus funds will be
redirected by the Trustees. In particular, all designated gifts and donations are accepted only
on the basis that If the intended project or ministry has already been fully funded,
discontinued or cannot be completed for whatever reason, the Trustees will use those funds
where they feel it is most appropriate. This is stated dearly in our literature.
l.li and signed on their behalf.
This report was approved by the board on
Signed
Brian Clarke
Page15

Kraslf Aid (Charltable Incorporated Organlsatlon)
Charity Number 1123948
Independent Examlners Report
For the Year Ended 31 March 2024
Responsibllities and basis of report
I report to the trustees on my examination of the accounts of the above charity for the year
ended 31 March 2024.
As the charity's trustees. you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ("the Act°>.
I report in respect of my examination of the Trust's accounts carried out under section 145 of
the 2011 Act and in carrying out my examination, I have followed all the applicable Directions
given by the Charity Commission under section 145(5)(b) of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination (other than that disclosed below ') which gives
me cause to believe that in, any material respect:
the accountlng records were not kept in accordance with section 130 of the Charities
Act,. or
the accounts did not accord with the accounts'ng records; or
the accounts did not compty with the applicable requirements con￿rning the form
and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'true and fair, view which is not a matter
considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the
examinatlon to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Slgned
Date
Philip YoungACA
26, Pavillion Close, Aldrldge. West Midlands
Page16

ei
tsan
nts acc
Forthe Periodfrom
01-Apr-23
to
31-Mar-24
Unrestricted
Restricted
Total Funds
Lastyear
(As restated)
49
Receipts
Bank Interest recelved
Donations Chuiches
Donatlons Indlviduals
Donations Stewardship
Craft sales
Payroll giving
39
6,525
3,320
16,330
83
177
6,525
3.320
16,330
83
177
7,882
4,302
15,539
67
177
Sliven Baptist Income
Varna Area Income
6,394
1,158
6.394
1,158
6.403
1,148
Total Recelpts
26,475
7,552
34,026
£ 35,567
Payments
Bank Service Charges
Donatlons Churches
Donatlon Projects
Miscellaneous Expense
Office Expense
Postage and Dellvery
Professional fee5
Travel- Mlnlstry- Bulgaria
585
26,665
432
254
88
114
1.290
988
585
672
30,206
1,750
28
51
52
415
2,151
26,665
432
254
114
1,290
988
Sliven Baptist expenses
Varna Area expenses
6,394
1.158
6,394
1,158
6,403
1,148
Total Payments
30,416
7,552
37,968
£ 42,876
Net Receipts I (Payments)
Tranfers between funds
Cash funds last yearend
Cashfunds this year end
3,941
3,941
7,309
17,497
13,556
17,497
13,556
24,806
17,497
Page7

ari
Forthe Perlod from
01-Apr-23
to
31-Mar-24
Unrestrlcted
Funds
Restrlcted
Funds
Total Funds
Cash Funds
Detalls
CAF Bankcurrent account
13,556
13,556
Total
13,556
13,556
Other assets
Deta Ils
Stock
2,375
2,375
Llabilties
Detalls
Accruals
150
150
Fund at
beglnnlngof
period
Income
Received
Fund at End
of Perlod
Expendlture
Fund
Sliven Baptist Church
Varna Area
6,394
1,158
6,394
1.158
Total
7,552
7,552
Signed bytrustees on behalfof alltrustees
Date of
approval
Name
Signature
thILulA￿ wJINScr
1,./i.(k
Page 8