Charity number: 1142363 ACTION BEQUIA UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
ACTION BEQUIA CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report Independent examiner's report statement of financial activities Balanco sheet Notes to the financial $tatement$ 9-15
ACTION BEQUIA REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Trustees Mr Richard Roxburgh, Chairman Mr David Ridley Mr David Harper Charity reglstered number 1142363 Prlnclpal offlce Calder & Co 30 Orange Street London WC2H 7HF Accountants Calder & Co 30 Orange Street London WC2H 7HF Page 1
ACTION BEQUIA TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Trustees present their annual report together with the financial st8temenls for the 1 July 2023 to 30 June 2024. Objectives and activities a. Policies and objectives The trustees policy is to utilise promptly any donations received lo achieve the charity's principal objective sel out below. b. Strategies for achieving objectives The trustees continually review the most appropriate methods for generating funds and encourage donations from both visitors to and residents of Bequia. Achievements and performance a. Review of activities Apart from Action Bequia's own significant Recycling and Walkway maintenance programs,olher distributions in the past e1ve months include helping activities in the following categories.. 1. Hospital Equipment including PPE and temperature 'guns° for the pandemic defen and The Rotary Medical relief Fund 2. Youth Development including to the Junior Sailing Academy and New Roots. 3. Education including The Sunshine School for special needs and The Leaming Cenlre. 4. Environment initiatives including beach clean-ups and bus shelter renovation 5. Sponsored the highly acclaimed Environmental Film school age children. 'Our Green Grenadines, with il's powerful message for 6. Soufiere's Volancic Eruption relief and helping with the critical needs of people forced to evacuate their homes and move lo shelters. 7. Installation of water tanks and the plumbing required to collect, store and distribute water to one hundred or more of the most needy residents IBequia has no community enabled water supply and collection from roofs is the most viable solution). 8. Provision of moorings al the most popular of the Bequia's coastal dive sights to dramatically redu the use of anchors which, historically, have caused severe coral damage. See ww.aclionbequia.org for more detsil b. Investment policy and perfomiance The charity's only asset is cash held al Lloyds Bank and in a Paypal account. Cash is not held for the long-term and hence there is no need lo consider an investment strategy to generate a return on monies held. Page 2
ACTION BEQUIA TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 Financial review a. Going coneem After making appropriate enquiries, the Trustees have 8 reasonable expectation that the Charity has adequate resources to eontinue in operational existence for the foreseeable futu. For this reason, they continue lo adopt the going eoncern basis in preparing thè financial stalemenls. Further details regarding the adoption of the going COnM basis can be found in the accounting policies. Structure, govemance and management a. Constitution Action Bequia is a registered charity, number 1142363, and is constituted under 8 Trust deed. The principal object of the charity is lo carry on charitable activities in the geographical area of St. Vincent and the Grenadines with a priority focus on the is18nd of Bequia. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and c(popted under the terms of the Trust deed. c. Organisational structure and deeision-making policies The charity is managed by the trustees with the assistance of a qualified Accountant. Al decisions are made by the Trustees al regu18r meetings. The charity has no employees. d. Policies adopted for the induction and training of Trustees The current trustees will ensure that a full induelion process will be undertaken by any new trustees e. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in p8rbcu18r those lated lo the operations and finances of the Ch8rily, and are satisfied that systems and procedures are in place lo mitigate exposu to the major risks. f. Future developments For the year ending 30th June 2024, we will continue to focus on our ambitious Lead Project which is Phase 1 of the Recycling. The other managed effort is the pair and maintenance of Walkways and Trails including The Belmont Walkway and The Princess M8rg8rel Trail. We will also financially support community projects managed by others especially in the areas of Youth Sports and Cultur818Ctivities. Funds held as custodian There are no funds held as custodian for other parties Page 3
ACTION BEQUIA TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel- The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to". select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (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. Approved by order of the members of the board of Trustees on 3 April 2025 and signed on their behalf by.. /kii R. Roxburgh D. Harper Page 4
ACTION BEQUIA INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024 Independent examiner's report to the Trustees of Action Bequia {Ihe Charity'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2024. This report is made solely to the charity's Iruslees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might slate lo the charity's trustees those mallers l am required lo slate lo them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 ACVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. As pemiilled by Direction 2, issued by the Charity Commission the fimi for which I wort< has provided the Company with bookkeeping services during the year ended 30 June 2023. As a consequence I have followed the requirement of the FRC'S Ethical Standard when undertaking this assignmenL An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no audit opinion on the accounts and my report is limited to those specific matters sel out in the independent examiner's slalemenL Page 5
ACTION BEQUIA INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 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 in any material respect". accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act", or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regu18tions 2008 other than any requirement that the accounts give a 'true and f81¢ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers 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. Signed.. <FF--- Dated.. 3 April 2025 A Koupland CTA ACA FMAAT BSclHonsl Calder & Co 30 Orange Street London WC2H 7HF Page 6
ACTION BEQUIA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies 38,892 38,892 35,796 Total income 38,892 38,892 35,796 Expendlture on: Charitable activities 24,422 24,422 40,273 Total expenditure 24,422 24,422 40,273 Net movement in funds 14,470 14,470 (4,477) Reeoneiliation of funds.. Total funds brought forward Nel movement in funds 45,859 14,470 45,859 14,470 50,336 (4,47T) Total funds carried forward 60,329 60,329 45,859 The notes on pages 9 10 15 form part of these financial slatemenls. Page 7
ACTION BEQUIA BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Note Fixed assets Tangible assets 3,591 5,360 3.591 5,360 Current assets Debtors Cash al bank and in hand 5,692 51.046 3.052 3T,447 56,738 40,499 Net current assets 60,329 45,859 Total assets less current liabilities 60,329 45,859 Total net assets 60,329 45,859 Charity fund$ Reslricled funds Unrestricted funds 60,329 45,859 Total funds 60,329 45,859 The financial statements were approved and aulhorised for issue by the Trustees on 03 April 2025 and signed on their behalf by. R. Roxburgh D. Harper The notes on pages 9 10 15 form part of these financial statements. Page 8
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies 1.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities." Statement of Recommended Practice effective from 1 April 2005 which has Sin been withdrawn. Action Bequia meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounb.ng policy. 12 Fund a¢¢ounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furterance of the general objectives of the charity and which have not been designated for other PLJrp0s. 1.3 Income All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised 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 of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not recognised and refer lo the Trustees, report for more Information about their contribution. Income lax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1A Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity- The costs of each activity are made up of the total of direct costs and shared costs, Induding support costs inVoed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resoLJrces. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 9
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Icontinuedl 1A Expenditure {continued) Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governan of the charity apportioned to charitable aclivilies. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, Depreciation is provided on the following basis.. Motor vehicles 33Qh per annum on a reducing balan basis 1.6 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 10
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations Gift aid 33,157 5,735 33.157 5,735 32,719 3,077 38,892 38,892 35.796 Total 2023 35,796 35,796 Analysis of gxpenditure on charitsblg activitiOS Summary by fund typg Unrestricted funds 2024 Total 2024 Total 2023 Governance costs Donations to Action Bequia Inc Charity project expenditure 457 457 3,930 28,912 7,431 21,000 2,965 21,000 2,965 Total 2024 24,422 24.422 40,273 Total 2023 40.273 40,273 Page11
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Governance costs Unrestricted funds 2024 Total funds 2024 Total funds 2023 Bank charges Profit l Loss on foreign exchange Depreciation 320 11,6321 1,769 320 11.632} 1,769 620 670 2,640 457 457 3.930 Trustees. remuneration and expenses During the year, no Trustees received any remuneration, benefits in kind or reimbursement of expenses (2023- £NIL). Tangible fixed assets otor vehicles Cost or valuation At 1 July 2023 17,821 At 30 June 2024 17,821 Depreciation At 1 July 2023 Charge for the year 12,461 1,769 At 30 June 2024 14,230 Net book value At 30 June 2024 3,591 At 30 June 2023 5,360 Page 12
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Debtors 2024 2023 Due within one year Gift aid recoverable 5.692 3,052 5,692 3,052 ststement of funds Statement of funds - current year Balance at 30 June 2024 Balance at 1 July 2023 Income Expenditure Designated funds Bequia Heritage Foundation 3.915 3,915 General funds Reserves 41.944 38.892 {24.422} 56.414 Total Unrestricted funds 45,859 38,892 (24,422) 60,329 Page 13
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 statement of funds (continued) statement of funds - prior year Balan at 30 Jun6 2023 5alance al 7 July 2022 Income Exp8nditure Designated funds Bequia Heri18ge Foundation 3,915 3,915 General funds Reserves 46,421 35,796 {40,273J 4f,944 Total Unrestricted funds 50,336 35,796 (40,273) 45, 859 Summary offunds Summary offunds- current year Balance at 30 June 2024 Balance at 1 July 2023 Income Expenditure Designated funds General funds 3,91 S 41.944 3,915 56.414 38.892 124.422} 45,859 38,892 124,422} 60,329 Page 14
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Summary of funds Icontinuedl Summary of funds - prior year Balan at 30 Jun6 2023 5alance al 7 July 2022 Income Exp8nditure Designated funds General funds 3,915 46,421 3,915 41,944 35,796 (40,273) 50,336 35,796 {40,273J 45,859 10. Analysis of net assets between funds Anatysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets 3,591 56,738 3,591 56.738 Total 60,329 60,329 Analysis of net assets between funds - prior period uns1cted funds 2023 Total funds 2023 Tangible fixed assets Current assets 5,360 40,499 5.360 40,499 Total 45,859 45,859 Page 15