2023-12-31-accounts - People International Projects Ltd

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COMPANY NUMBER: 3215225

PEOPLE INTERNATIONAL PROJECTS LIMITED

CHARITY NUMBER: 1126596

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

REPORT OF THE TRUSTEES OF

PEOPLE INTERNATIONAL PROJECTS LIMITED

FOR THE YEAR ENDING 31 DECEMBER 2023

A. REFERENCE AND ADMINISTRATIVE DETAILS

Full name:	People International Projects Limited
Governing Documents:	Memorandum and Articles of Association
Constitution:	A company limited by guarantee
Charity Registration Number:	1126596
Company Registration Number:	3215225
Trustees (also Directors):	Mr L N Bacon
	Mr R J Berkley
	Mr S Joyce
	Mrs A C Keenan
	Mr F D Threshie
	Miss H Foster
Senior Management:	The Board of Trustees have appointed an International Director
Address of registered office:	72 Commercial Road
	Paddock Wood
	Tonbridge
	Kent TN12 6DP
Bankers:	Barclays Bank plc
	8 Calverley Road
	Tunbridge Wells
	Kent TN1 2TB
Solicitors:	Wellers Solicitors
	65-68 Leadenhall Street
	London EC3A 2AD
Independent Examiner:	T Lane
	Director in M N Jenks & Co Limited
	72 Commercial Road
	Paddock Wood
	Tonbridge
	Kent TN12 6DP

REPORT OF THE TRUSTEES OF

PEOPLE INTERNATIONAL PROJECTS LIMITED

FOR THE YEAR ENDING 31 DECEMBER 2023

The trustees are pleased to present their annual directors' report together with the consolidated financial statements of the charity for the year ending 31 December 2023, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Investment Powers: Article 3.10 of the Memorandum of Association of the Company gives the Company the power to invest the money of the Company not immediately required for its objects in or on such investments, securities or property as may be thought fit, subject nevertheless to such conditions (if any) and such consents (if any) as may for the time being be imposed or required by law.

The trustees submit their annual report and financial statements for the year ended 31 December 2023 in accordance with current statutory requirements, the charity’s governing document and the “Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2005)”.

B. STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational Structure

People International Projects Ltd is managed by the Council of Management (also known as the Board of Trustees) whose Executive Committee normally meets quarterly and may exercise all such powers of the company as are not required by the Articles of Association to be exercised by the company in general meeting.

Trustees are responsible for the following areas: to set vision and values, to develop strategy, establish and monitor policies, to set up employment procedures, to ensure compliance with governing documents, to ensure accountability, to ensure compliance with the law, to maintain proper fiscal oversight, to select and support the International Director, to maintain effective board performance, and to promote the organisation.

Day-to-day operational decisions are taken by the International Director who reports to the Board of Trustees.

Appointment of New Trustees

New Trustees are appointed by the Board following a verbal or written report being submitted to the Board setting out the suitability of the proposed trustee and having been invited to attend a board meeting as guest. The Board aims to recruit trustees who can add to the expertise and experience of the current Board in order to provide a good balance for effective decision making.

All new trustees are provided with an orientation to the charity prior to their first board meeting. All trustees are invited to attend appropriate training when it is available and also are kept fully updated with all literature that is received from the Charities Commission.

Organisational Context

People International Projects carries out its objectives in partnership with other like-minded charities. Personnel working in projects and finances typically come from partnering charities in the Netherlands, Germany, the USA, the UK, Australia, New Zealand and Canada. Each of these partnering charities is independently registered and has charitable status in its own country.

Risk Management

The trustees have identified and examined the major risks to which the charity is exposed and confirm that systems are regularly reviewed to mitigate those risks.

REPORT OF THE TRUSTEES OF

PEOPLE INTERNATIONAL PROJECTS LIMITED

FOR THE YEAR ENDING 31 DECEMBER 2023

C. OBJECTIVES AND ACTIVITIES

The objectives of People International Projects LTD are:

The relief of poverty world-wide.
The advancement of public education in the areas of primary health care, small scale economic growth and agriculture.

Further, we seek to:

Establish and/or assist hospitals, clinics, schools, colleges or other educational foundations.
To cause to be written and printed or otherwise reproduced, circulated and distributed electronically, gratuitously or otherwise, periodicals, magazines, books, leaflets or other documents, films or other media.
To hold exhibitions, meetings, lectures, classes, seminars and courses, either alone or with others.
To foster and undertake research into any aspect of the objects of the Company and its work and to disseminate the results of any such research.

Activities

Develop and maintain partnerships with like-minded charities: PIP gains its workers from other charities. Maintaining our partnerships and cooperation with these charities is essential to reaching the objectives of PIP.

Fund Raising: Financing the international operations and the projects themselves require regular fund raising and reports to partnering charities.

Providing the impetus for new projects: PIP establishes projects in Greater Central Asian countries, which operate independently. The activities of these projects operate under their own authority and financial accountability of the projects is through the local governments wherever projects are found. Also PIP encourages or supports projects of other like-minded organisations or NGOs.

D. ACHIEVEMENTS AND PERFORMANCE

Workers: During the period of this report we had a part time volunteer International Director and one part-time volunteer staff worker. Others volunteered their assistance from time to time.

Development Projects:

Within our network we provided assistance, encouragement or finances for:

Education and training in moral values
Provision of community health care, development and education
Linguistic development
Leadership training and development of Central Asians
Leadership training and development of our own Network personnel
Planning for the network-wide conference scheduled for June 2024
Humanitarian efforts.
Relief aid for refugees
Our economic development project continued to provide jobs for local people in some of the poorest countries of Central Asia.
We provided facilities for English educational training and office space for an English educational programme.

The Trustees have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.

REPORT OF THE TRUSTEES OF

PEOPLE INTERNATIONAL PROJECTS LIMITED

FOR THE YEAR ENDING 31 DECEMBER 2023

E. RESERVES POLICY

The Directors look to have sufficient reserves to meet the day to day running requirements of the charity.

F. FINANCIAL REVIEW

In 2023, unrestricted income was £51,336 resulting in a surplus on unrestricted funds of £2,412 for the year and total unrestricted funds of £124,772 were carried forward to 2024.

At the end of 2023, the total restricted funds were £2,837 (2022 - £4,723). Other funds were raised by other charities and sent direct to the projects concerned. Labour and goods and services are also supplied in this way.

Overall, total income and resources, restricted and unrestricted, totalled £52,910 (2022 - £169,569), total outgoing resources were £52,384 (2022 - £167,057) leaving a surplus of £526 (2022 – surplus of £2,512) and total fund balances were £127,609 at 31 December 2023.

G. PLANS FOR FUTURE PERIODS

We have been reviewing our strategies and priorities contributing to the ongoing success of the network as a whole. The Trustees desire to carry on with the work of PIP indefinitely.

H. RESPONSIBILITIES OF DIRECTORS/COUNCIL OF MANAGEMENT

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the financial activities of the company for that period. In preparing those financial statements the Directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees

RICHARD BERKLEY DIRECTOR/MEMBER OF COUNCIL OF MANAGEMENT

Date: 6 September 2024

INDEPENDENT EXAMINER'S REPORT TO

THE TRUSTEES OF PEOPLE INTERNATIONAL PROJECTS LIMITED

I report on the financial statements of the Company for the year ended 31 December 2023 set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND INDEPENDENT EXAMINER

The charity's trustees (who are also Directors of the Company for the purposes of company law) are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this period (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

examine the financial statements (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the financial statements, and the report is limited to the matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that:

accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
the financial statements do not accord with such records;
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006, 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;
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

10 September 2024 72 Commercial Road Paddock Wood, Tonbridge, Kent

T Lane Director in M N Jenks & Co Ltd Chartered Accountants

PEOPLE INTERNATIONAL PROJECTS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Restricted Funds Funds £ £ Income and endowments from: Donations and Legacies: National Office Contributions - - Worker Contributions 46,462 Other Donations 2,700 1,574 49,162 1,574 UK Bank Investment Income 154 - Other Income 2,020 - Total Income 51,336 1,574 Expenditure Raising Funds - - Charitable Activities 48,924 3,460 Total Expenditure(Note 2) 48,924 3,460 Net Income (Expenditure) before Transfers 2,412 (1,886) Transfers between Funds - - Net Income (Expenditure) for the Year 2,412 (1,886) Fund balances brought forward at 1 January 2023 122,360 4,723 Fund balances carried forward at 31 December 2023 £ 124,772 £ 2,837 £

The notes set out on pages 8 to 10 form an integral part of these financial statements.

PEOPLE INTERNATIONAL PROJECTS LIMITED

COMPANY NUMBER: 3215225

BALANCE SHEET

31 DECEMBER 2023

CURRENT ASSETS Debtors Cash at Bank and In Hand CREDITORS:Amounts falling due within one year NET CURRENT ASSETS FUNDS Unrestricted Funds Restricted Funds TOTAL FUNDS	Notes 2023 2022 £ £ 4 2,604 6,558 131,791 122,387 134,395 128,945 5 (6,786) (1,862) £ 127,609 £ 127,083 124,772 122,360 7 2,837 4,723 £ 127,609 £ 127,083

For the financial year ended 31 December 2023, the Company was entitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476. The Directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with section 386 of the Act and preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the period and of its profit or loss for the financial period in accordance with the requirements of sections 394 and 395 which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Company.

These financial statements have been prepared in accordance with the special provisions relating of Part 15 of the Companies Act 2006 and in accordance with FRS 102 SORP.

Signed on behalf of the Directors/Council of Management

RICHARD BERKLEY DIRECTOR/MEMBER OF COUNCIL OF MANAGEMENT

Approved by the Board on: 6 September 2024

The notes set out on pages 8 to 10 form an integral part of these financial statements.

PEOPLE INTERNATIONAL PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

31 DECEMBER 2023

1 ACCOUNTING POLICIES

(a) Basis of Accounting

These financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Charity constitutes a public benefit entity as defined by FRS 102.

(b) Income Recognition

Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities as soon as the Company is entitled to receipt and the amount can be measured with reasonable certainty. Legacies are included as soon as the Company has entitlement and receipt is probable.

Investment income is recognised on an accruals basis.

Donated services and facilities are included at the value to the Charity where this can be quantified.

Grants received are credited to the Statement of Financial Activities in the year for which they are receivable.

(c)

Value Added Tax

The Company is not registered for VAT purposes and all costs are inclusive of VAT.

(d)

Resources Expended

Expenditure is included when incurred. The irrecoverable element of VAT is included within the item of expense to which it relates. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Charitable activities costs comprise those costs incurred directly on the objects of the company and also those costs of an indirect nature necessary to support them. Governance costs are those incurred in connection with administration of the Company and compliance with constitutional and statutory requirements.

(e)

Allocation of Costs

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.

(f) Funds Accounting

Funds held by the Company are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Council Members.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the Company. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

(g) Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

PEOPLE INTERNATIONAL PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2023

2 TOTAL EXPENDITURE

Training and Development Field Leader Costs Arise Fund Bank Charges Bookkeeper’s Services Independent Examiner's Fees Staff Conference Exchange Loss Field Workers Office Workers Other Non General Fund Transfers Travel Costs Language Lessons Office Rental Conferences and Meetings	Charitable Activities Direct Expenses Support Costs Governance £ £ £ 627 - - 5,105 - - - - - 209 - - - 1,304 - - - 1,344 1,544 - - 1,914 - - 1,116 - - - - - 3,139 13 - - - 32,396 - - 132 - - 1,982 - - 1,559 - - £ 46,584 £ 4,443 £ 1,357	Raising Funds 2023 Total £ £ - 627 - 5,105 - - - 209 - 1,304 - 1,344 - 1,544 - 1,914 - 1,116 - - - 3,152 - - - 32,396 - 132 - 1,982 - 1,559 £ - £ 52,384 £	2022 Total £ - 5,701 1,000 74 1,836 1,290 113,804 3,227 - 964 1,489 6,244 26,611 452 1,623 2,742 167,057

3 STAFF COSTS

No staff costs were incurred during the year.

4 5	DEBTORS Other Debtors Prepayments CREDITORS:Amounts falling due within one year Other Creditors Accruals	2023 £ 20 2,584 £ 2,604 5,442 1,344 £ 6,786	2022 £ 20 6,538 £ 6,558
			- 1,862 £ 1,862

6 SHARE CAPITAL

The Company has no share capital, being limited by guarantee. In the event of a winding up the members liability is limited to £1 each.

PEOPLE INTERNATIONAL PROJECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

31 DECEMBER 2023

Balance at 01.01.2023 £ 10 - 4,713	Incoming Resources £ - 200 1,374	Outgoing Resources £ - (200) (3,260)	Transfers £ - - -
£ 4,723	£ 1,574	£ (3,460)	£ -
55 35,000 87,305	- - 51,336	(288) - (48,636)	233 - (233)
£ 122,360	£ 51,336	£ (48,924)	£ -

8	Unrestricted Restricted Total ANALYSIS OF FUNDS Funds Funds Funds £ £ £ Fund Balances at 31 December 2023 are represented by: Current Assets 131,558 2,837 134,395 Current Liabilities (6,786) - (6,786) £ 124,772 £ 2,837 £ 127,609

9 TRUSTEES' EXPENSES

No expense payments or salary payments were made to Trustees during the period.

10 RELATED PARTY TRANSACTIONS

No related party transactions were made in the year, other than International Director costs of £8,351 (2022 - £8,873 for travel, £1,559 (2022 - £2,742) in respect of meetings which were incurred in the year, £1,982 (2022 - £1,623) for office rental and language lesson costs of £132 (2022 - £452).

PEOPLE INTERNATIONAL PROJECTS LIMITED

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Donations and Grants Worker Contributions Other Income Interest Receivable Exchange Gain Total Income Less Expenses Field Worker Costs Non General Fund Transfers Staff Conference Travel Field Leadership Costs International Director Conferences and Meetings International Director Travel International Director – Language Lessons Bookkeeping Fees Independent Examiner's Fees Bank Charges Miscellaneous Internet Costs Exchange Loss International Director – Office Rental Training and Development Net Income (Expenditure) Before Taxation	1,111 - 1,544 24,045 5,105 1,559 8,351 132 1,304 1,344 209 2,055 1,102 1,914 1,982 627	2023 £ 4,274 46,462 2,020 154 - 52,910 52,384 £ 526	2022 £ 113,332 47,874 105 16 8,242 169,569 - 8,208 113,804 17,738 5,701 2,742 8,873 452 1,836 1,290 74 1,070 419 3,227 1,623 - 167,057 £ 2,512