QFFICL Cop Registered Charity Number: 1138357 COPTS IN NEED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COPTS IN NEED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Re8lstered Charity Number: 1138357 Address: 5 Glenfall Close Billln8ham Cleveland TS22 5RL Trustees: Dr Awad Ibrahim Awad Dr Joseph Maxlmous Dr Magdy Abdalla Dr Maryse Louis Prof Amir Michael Dr Robert George Mr Samer Daoud Bankers: HSBC Bank plc 19 Princes Street Knutsford Cheshire WA16 6BZ Independent examiner: Mr G Fitzgerald BA, FCA, DChA Azet5 Audit Services Wynyard House Wynyard Park Avenue Wynyard TS22 5TB Contents Page Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees have pleasure in presenting their Report along with the Financial Statements of Copts In Need charity for the year ended 31st March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charitws trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard FRS 102. Structure, governance and management The charity was ￿gIStered on Ilth October 2010 and is constituted under a trust deed dated 12th September 2010. It is registered under charity number 1138357. The following were appointed trustees on the date of registration, Ilth October 2010, unless otherwise stated and served throughout the period to 31st March 2019. Dr Awad Ibrahim Awad Dr Joseph Maximous Dr Magdy Abdalla Dr Robert George Prof Amir Michael Mrsamer Daoud Dr Maryse Louis Chairman Secretary and finance director Promotion Marketing & Promotion Finance & Governan Information Technology Fundraising & NG05 Objectlves and activities Copts In Need is a humanitarian charity based upon Christian beliefs and values. It is dedicated to the reduction of extreme poverty, sickness and dlstress among some of the poorest people in, but not restricted to, Egypt. Our main activities are directed towards providing Safe, long-lasting shelters supplied with water, elettricity and sanitation. Copts In Need is committed to providingfood, health and education. We aim to empower individuals by creating employment opportunities. We aim to achleve major improvement in the lives of those people who are living In extreme poverty and help them realise their Fundamental Human Rights to food, health and education in addition to a life of dignity. Achievements and Performance Copts In Need has grown steadily since It was founded in October 2010. Our trustees and members, along wlth our teams on the ground, have worked hard for the charity to grow and achieve its objectives. Year on year we have continued to increase the numbers of active members and supporters and this year is no exception; we have run two suc￿Ssful annual events in Manchester and London in September 2023. During the financial year ending 31st March 2024, we have commissioned and completed 83 new houses and 50 roofs at a total cost of £236,000 and since then we have additionally commissioned another 30 new houses and roots. Additionally, we have expanded our micro-financing projects to include 5amalout, Abnoub, SohaE and El- Balyana, in addition to Tahta. To date your donations have supported 1000 members of our communities to start their own businesses. The financing amount ranges from £100 to £700 per project, depending on the project our default rate of the monthly repayments is less than 1%. The Eyes of Assiut hospital has continued to be a referral and a treating centre for all Egyptians Wlthin Assiut and its peripheries. Financlal revlew During the period, the charity raised £420623 in funds from a number of generous corporate and indivldual donors and expended £355776 on its charitable and fundraising activities. Reserves policy The charlty will continue to build up its reserves 50 that it can effectively fund its objectives and activities as set out above. No limits were set for funds at the bank. Resenies will be consumed by the charit(s plans for future periods. Plans for future periods Plans for the future will be directed towards ensuring that funds continue to grow along with our membership. We will continue funding micro finance projects in the region of £IOO,000 - £150,(￿0. Additionally, we are planning to handover the commissioned houses and roofs to the beneficiaries and commission new houses and roof projects. CIN is planning to start a new service in providing financial support to cancer patients in Egypt to help them meeting their treatment and living expensed due being serious illnes5 and also CIN started a 'Child Development Programme CDP, in September 2022. Trustees. responsibilities for the financial ststements The trustees are responslble for preparing the Trustees, Annual Report and the financial statements In accordance with applicable law and United Kingdom (UK} Accountin8 Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements foreach financial year which give a true and fair view of the State of affairs of the charity and of the incomlng resources and application of resources of the charity forthat period. In preparing these financial statements, the tru5tee5 are required to: Select suitable accounting policies and then apply them consistently,. Observe the methods and principles in the Charities SORP October 2019 IFRS 1021,. Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financlal statements; Prepare the financial statements on the going con￿rn basis unless it Is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 irregularities. Public benefit Duringthe period, the trustees have had regard to the public benefit guidance issued by the Charity Commission. They believe that, in fulfilling the charity's primary objectives, it is delivering help to those in need of food, safe shelter, clean drlnklng water, healthcare, education and employment opportunities in Egypt. The organisation is therefore meeting its obligation5 under the public benefit guidance. Approved by the Trustees and signed on its behalf by: Dr Joseph Maximous Trustee & Secretary Date: 9 January 2025 COPTS IN NEED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COPTS IN NEED I report on the accounts of the charity for the year ended 31st March 2024 whlch are set out on pages 5tolO. Respective responslbilities of trustees and examlner The charitvs trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the ACV). I report in respett of my examination of the charit¢s accounts carried out under section 145 of the 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 Since the charity's gross income exceeded £250,(X)O your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because I member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any materlal respect: accounting records were not kept in respect of the charity as required by section 130 of the 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning 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 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. Mr G Fitzg rald BA, FCA, DChA Azets Audit Setvices Wynyard House Wynyard Park Avenue Wynyard TS22 5TB th 15 January 2025 COPTS IN NEED Statement of Financial Activities For the Year Ended 31 March 2024 Total Funds Total Funds Unrestricted Restricted Note Funds Fund5 2024 2023 INCOME Income from Donation5 and Legacies Bank interest 397922 397922 274841 22701 22701 2644 TOTAL INCOMING RESOURCES 420623 420623 277485 EXPENDITURE Expenditure on raisingfunds.. Fundraising events 13384 13384 10265 Expenditure on charitable activities Costs of main activity 342392 342392 263223 TOTAL EXPENDITURE 355776 355776 273488 Net Incomlng Resources 64847 64847 3997 Reduction in Gift Aid Provision (42632) Net movement in funds 64847 64847 (38635) Balances brought forward 760091 760091 798726 Balances carried forward 824938 824938 760091 The charity has no recognlsed galns or losses other than the results for the year set out above. All of the activities of the charity are classed as continuing. COPTS IN NEED Balance Sheet at 31 March 2024 Note 2024 2023 CURRENT ASSETS Cash at bank Gift Aid Debtor Prepayments and accrued income 734709 90000 2533 716091 45000 1250 827242 762341 CURRENT LIABIUTIES Creditors- amounts fallln8 due wlthin one year: Accruals (2304) (2250) NET CURRENT ASSETS 824938 760091 NEf ASSErs 824938 760091 REPRESENTED BY: FUNDS: Unrestricted 824938 760091 824938 760091 Approved by the Trustees on 9th January 2025 and Signed on their behalf by: Dr Awad Ibrahim Awad COPTS IN NEED Notes to the Financlal Statements For the Year Ended 31 March 2024 ACCOU￿rING POLICIES a) Accounting Convention The financial statements are prepared in accordance with the charities governing document and "Accounting and Reporting by Charitie5: 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) {published in October 2019)" The charity is a public benefit entity as defined by FRS 102. The charity has taken advantage of the provlsions in the SORP for Charities applying FRS 102 Update bulletin I not to prepare a statement of Cash Flows. The financial statements are prepared in sterlin& which is the functional currency of the charlty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention modified to include certain items at fairvalue. The principal accounting policies are set out below. b) Fund Accounting Unrestricted funds are available for use at the discretlon of the trustees in furtherance of the general objettives of the charity. Restricted funds are subject to restriction on their expenditure imposed by the donor although there were no restricted funds during the year. c) Incoming Resources Income is accounted for on a receivable basis. Gifts are included at the point at which the charity is entitled to receive them, usuallythe earlier of the notification or receipt. d) Resource5 Expended Resources expended are accounted for on an accruals basis. Grants and donations payable are charged in the year in which the offer is made unconditionally to the beneficiary. e) Going Concern The financial statements have been prepared on a going concern basi5 as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, The budgeted income and expenditure is sufficient with the level of resenies for the charity to be able to continue as a going concern. COPTS IN NEED Notes to the Financial Statements For the Year Ended 31 March 2024 ACCOUNTING POLICIES (continued) Judgements and key sources of estlmatlon uncertainty There are no judgements {apart from those involving estimates) that have had a significant effect on amounts recognised in the flnancial statements. The estlmates and assumptions that could have a significant potential impact on the carrying values of assets and liabilities are as follows: Estimate of the amounts due from HMRC in respect of Gift Aid claims. The directors have included an estimate of the claim for 2023/2024 and believe this to be materially corrett. g) Financlal Instruments Flnancial Ilabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. EXPENDITURE ON FUNDRAISING AcfiviTIES 2024 2023 Fundraising Events 13384 10265 13384 10265 EXPENDITURE ON CHARITABLE AcfiviTIES 2024 2023 Gifts and donation5 Bank charges Independent Examiner's fee5 Miscellaneous expenses 339367 721 2304 260187 624 2250 162 342392 263223 GIFT AID PROVISION At 31" March 2022, the trustees were of the opinion that the provision for recoverable gift aid for the years ending 31st March 2020, 3151 March 2021 and 31° March 2022 amounted to £111250. After submissions to HMRC the actual recoverable amount was £68618. The reduction in the provision of £42632 has been reflected in the 2023 SOFA figures. COPTS IN NEED Notes to the Financial Statements For the Year Ended 31 March 2023 STAFF COSTSAND NUMBERS The charity has no paid employees. None of the thariws trustees received any remuneration or reimbursed expenses during the year. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS 2024 Unrestrlcted Fund5 Restricted Funds Total Funds Net Current Assets 760091 760091 2023 Unrestrirted Funds Restrirted Funds Total Funds Unrestricted funds 824938 824938 MOVEMENT IN FUNDS At 1st Incomlng Outgolng Glft Ald April Resource5 Resources Provision 2023 At 31st March 2024 Unrestricted Funds 766091 420623 (361776) 824938 Atl Incoming Outgolng GIftAld April Resources Resources Provision 2022 At 31° March 2023 Unrestricted Funds 798726 277485 {273488) (42632) 760091 COPTS IN NEED Notes to the Financial Statements For the Year Ended 31 March 2023 TAXATION Copts in Need is a charity and is exempt from corporation tax on its charitable activlties. 10