Charity number: 1142363 ACTION BEQUIA UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
ACTION BEQUIA CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trusteos. report Independent examinevs report Statement of financial activities Balance sheet Notes to the financlal statements 9-16
ACTION BEQUIA REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025 Trustegs Mr Richard Roxburgh, Chairman Mr Davtd Ridley Mr David Harper Charity registered number 1142363 Prlnclpal office Calder & Co 30 Oranoe 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 2025 The Trustees present their annual report together with the financial statements for the 1 July 2024 10 30 June 2025. Objectlves and activitles a. Policies and objectives The trustees policy is to utilise promptly any donations received to achieve the chariWs principal objective sel out below. b. Strategies for achlevlng objectives The trustees continually review the most appropriate methods for generating funds and encourage donations from both visitors to and residonts of Bequia. Achievements and performance a. Revlew of actlvitles Apart from Action Bequia's own significant Recycling and Walkway rna1ntenan programs,other distributions in the past twelve months inclde helping activities in the following categories.. 1. Hospital Equipment including PPE and temperature "guns" for the pandemic defence and The Ro18ry Medical relief Fund 2. Yoijth Dev¢lopmcnl including to the Jijnior Sailing Acadcmy and Ncw Roots. 3. Education including The Sunshine School for special needs and The Learning Centre. 4. Environment initiative5 including beach clean-ups and bus Shelter renovation 5. Sponsored the highly acclaimed Environmental Film school age children. -.our Green Grenadines, with it'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 to shelters. 7. Installation of water tanks and the plumbing required lo collect, store and distribute water to one hundred or more of the most nee(ly residenls IBequia has no communiiy enable(I water supply ana collection from roofs is the most viable solution). 8. Provision of moorings al the most popular of the Bequia's coastal dive sights lo dramatically reduce the use of anchors which, historically, have caused severe coral damage. See www.actionbequia.org for more detsil b. Investment Poli and perfomian¢è The charills only asset is cash held at Lloyds Bank and in a Paypal account. Cash is not held for the long-lerm and hence there is no need to consider an investrnent strategy lo generate a return on monies held. Page 2
ACTION BEQUIA TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Flnancial review . Golng concem After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going ¢oncem basis can be found in the accounting policies. Structure. governance and management Constitution Action Bequia is a registered charity, nL¢mber 1142363, and is Gonstituted under a Trust deed. The principal object of the charity is to cary on charitable activities in the geographical area of St. Vir¢cenl and the Grenadines with a priority focus on the island of Bequia. b. Methods of appointment or election of Trustees Thc managcmcnt of thc Charity i4¥ th¢ r¢spon4¥ibility of the Trust¢os who are ¢lected and co.opted und¢r the terms of the Tnjst deed. . Organisational structure and declsion4naking policies The charity is managed by the tr4JStees with the assistance of a qualified Accountant. All decisions are made by Ihe Trustees at regular meetings. The charity has no employees. d. Policies adopted for the induction and training of Trustees The current Iruslees wll ensure Ihal a full induction process will be undertaken by any new tnjstees Financial risk management The Trusiees have assessed ihe malor rlsks io wnlch Ihe Charlty Is exposed, In partlcular ihose related 10 the operations and finances of the Charity, and are satisfied that syslems and procedures are in place to miligale exposure lo the major risks. l. Future developments For the year ending 3(Xh June 2025, we will continue to focus on our afnbitious Lead Project which is Phase 1 of the Recycling. The other managed effort is the repair and maintenance of Walkways and Trails including The Belmont Walkway and The Princess Margaret Trail. We will also financially support comrnunity projects managed by others especially in the areas of Youth Sports and Cultural aclivilies. Funds held as custodlan There are no funds held as custodian for other parties Page 3
ACTION BEQUIA TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practlce). The law applicable to charities in England & Wales reouires the Trustees to prepare financial ststemenls for each financial which give a true and fair view of the stale of affairs of the Charity and of ils incoming sourceS and application of resources, including ils income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required lo= select suitable accounting policie5 and then apply them consislenlly., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting eslimales that are reasonable and prudent.. stale whether applicable UK Accounting blandards 1 U21 have been followe(J, subject to any matenal departures disclosed and explained in the financial statements., prcparc thc financial statomcnts? on the going conccrn basis unlcss it is tnappropriatc to pr¢sum¢ that th¢ 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 at any lime the financial position of the Charity and enable them to ensure that the financial siatements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the TrLtsl 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 7 April 2026 and signed oll their behalf by= k£Lkn48 kL7x6wgL Z)aviA M67rt1iV frF67kpek R. Roxburgh D. Harr Page 4
ACTION BEQUIA INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2025 Independent examinerfs report to the Trustees of Action Bequia I'the Charity,) I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2025. 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 state to the charity's trustees those matters l am qUired lo stale to them in this report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charills Iruslees as a body, for my work, for this report, or for the opinions I have formed. Responslbilltles and basis 01 report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the reouirements of the Charities Act 2011 1.the 2011 Act,). I report in respect of my examination of the Charills accounts carried out under section 145 of the 2011 Act and in carwng out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. As permilled by Direction 2, issued by the Charity Commission the firm for which I work 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 assignment. 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 matlcrs scl out in Ihc indcpcndcnt cxamincr's slatcmcnt. Page 5
ACTION BEQUIA INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2025 Independent examiner's statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cau$e lo believe that in any material respe¢l'. aco)unting records were not kept in respect of the Chartty as required by section 130 of the 2011 Act., or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements eoneerning the form and conlenl of accounts sel oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tnJe and f8ir' view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other Tnatters In Gonnectlon wllh the examlnatlon to whlch attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Signed: <FF--- Dated.. 7 April 2026 A Koupland CTA ACA FMAAT BSclHons) Calder & Co 30 Orange Street London WC2H 7HF Page 6
ACTION BEQUIA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025 Unrtstriet funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacie$ Investments 116,782 74 116,782 74 38,892 Total in¢ome 116,856 116.856 38,892 Expenditure on: Charitable activities 133,180 133.189 24,422 Total expendlture 133.189 133.189 24,422 Net movement in funds 116.333) 116.333) 74,470 Reconcillation of funds: Total funds bTought forward Nel movemenl in funds 60.329 116,333) 60.329 116,333) 45,859 14.470 Total funds carrfÈd fonmard 43.996 43.996 60..92.9 The notes on pages 9 10 16 form part of these finat5Gial statements. Page 7
ACTION BEQUIA BALANCE SHEET AS AT 30 JUNE 2025 2025 2024 Note Fixed assots Tangible assets 2,406 3,591 2.406 3,591 Currènt assèts Debtors Cash at bank arkd in hand 11,799 29.792 5,692 51,046 41,591 56,738 Current liabilities Net current assets 41,591 56, 738 Total assets less current liabilities 43.997 60,329 Net assets excluding p8nsion asset 43,997 60,329 Total net assets 43,997 60,329 Charlty funds Raslrictod funds Unfeslricled funds 43.997 60,329 Total funds 43.997 60,329 The financial statements We approved and authorised for issue by the Tnjstees on 07 April 2026 and signed on their behalf by.. R. Roxburgh D. Harper The notes on pages 9 to 16 form part of these finaricial statements. Page 8
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Accounting policies 1.1 Basls of preparatlon of financlal statements The financial statements have been piepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slaternenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland {FRS 1021 leffeclive 1 January 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 lo give a 'lrue and faiv view and have ¢Yeparted from the Charities (Accounts and Reports) Requlations 2008 only lo the exlenl required lo 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 effect¥ve from 1 April 2005 which has since been withdfawn. Action Bequia meets the definitson of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting poliGy. 1.2 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Iruslees in furterance of the general objectives of the charity and which have not been designated for other purposos. 1.3 Income All income is recognised once the Charrty has entitlement to the income, il is probable that the ineome will reeéivèd and the amount of ineome reeèivable can bè méasured rèli2bly_ Donated services or facilities are recognised when the charity has control over the item, 8ny conditions associated with the donated item Mave t)een met, the reIpt 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 {FRS 1021, the general volunteer lime of the Friends is not recognised and refer to the Trustees. report for more Informalon about their contribution. Incorrie tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer econoniic benefit to a third paty, it is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable to a single activity are allocated directly to that aclivily. Shared costs which contribute lo more than one activity and support costs which are not allributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depcIatIon 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 2025 Accounting policies {continuedl 1.4 Expenditure (continued) Governan costs are those incurred in connection with administration of the charity and compliance with constitutional and stslutory requirements. Charitable activities and Governan costs are costs incurred on the charills educational operations, including support costs and costs relating lo the governance of the charity apportioned lo charitable activities. 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 met al the year end are noted as a commitment, bul not accrued as expenditure. l expenditure is industva of irrecovorable VAT. 1.5 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interest paid or payable by the institution with whorn the funds are deposited. 1.6 Tangible flxed assets and depreclation TAngihlp. fixp.d x8qpt.g xrp. initiAlly rg.rngni%è.d xt r()4t Aftpr rprngnitinn. iJndA.r thp rn%t mndgl. txngiblp fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be Include¢J In the measurem6ni of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is Pfovided on the following basis.. Motor vehicles 33yo per annum on a reducino balance b8SIS 1.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 1.8 Cash at bank and In hand Cash al bank and in hand includes cash and short-tem 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 2025 Income from donations and legacies Unrestricted funds 2025 Total funds Total funds 2025 2024 Donations Gift aid 104,941 11.841 104,941 11,841 33,757 5, 735 116,782 116,782 38,892 Tof812024 38,892 38,892 Analysis of exp9nditure on charitablg a¢tivitig$ Summary by fund type Unrestrlct@d lund$ 2025 Total 2025 Tot81 2024 Covernance co818 Donations to Action Bequia Inc Charity project expenditure 7,789 124,110 1,290 7,789 124,110 1,290 457 27,000 2,9G5 Total 2025 133,189 133,189 24,422 Tot812024 24,422 24.422 Page 11
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Govgrnancg costs Endowment funds 2025 Total funds Total funds 2025 2024 Bank charges Profit l Loss on foreign exchange Consultancy fees Depreciation 1,924 1,864 2,816 1,185 1,924 1,864 2,816 1,185 320 (1,632) 1,769 7,789 7,789 457 Investment income Unre#trieted funds 2025 Total funds 2025 Total funds 2024 Investment income 74 74 Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2024 - £NIL). Dullng the year ended 30 June 2025, no Trustee expenses have been incurred (2024- £NIL). Page 12
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Tangiblg fixed assets Motor vehicles Cost or valuatlon At 1 July 2024 17,821 At 30 June 2025 17,821 Depreclation At 1 July 2024 Charge for the year 14.230 1.185 At 30 June 2025 15,415 Net book valu¢ At 30 June 2025 2,406 At 30 June 2024 3,591 Debtors 2025 2024 Due within one year Gift aid recoverable 11,799 5,692 11,799 5,692 Page 13
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ststgment of funds Statgmgnt of funds - current year Balance at 30 Juno 2025 Balancg at 1 July 2024 Transfors inlout Income Expenditure Designated funds Designated Funds - all funds 3,915 13,9151 General funds General Funds - all funds 56,414 116.857 (133.189) 3,915 43.997 Total Unrestricted funds 60,329 116.857 1133.189) 43.997 Statement of funds - prior year Balanc8 al 30 June 2024 8818nce al l July 2023 Income Expenditure Designated funds Bequia Heritage Foundation 3,975 3,975 General funds Reserves 41,944 38,892 (24,422) 56,414 Total Unrestricted funds 45,859 38,892 (24,422) 60,329 Page 14
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 10. Summary offunds Summary offunds- curront year Balance at 30 Juno 2025 Balancg at 1 July 2024 Transfors inlout Income Expenditure Designated ftJnd$ General funds 3,915 56,414 13,9151 3,915 116,857 (133,189) 43,997 60,329 116.857 (133.189) 43.997 Summary offunds- prior year Balance al 30 June 2024 Balan al l July 2023 Income Expenditure Designated funds General fijnds 3,915 41,944 3,915 56.414 38,892 (24,422) 45,859 38,892 (24,422) 60,329 11. Analysls of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets 2,406 41,591 2.406 41.591 Total 43,997 43.997 Page 15
ACTION BEQUIA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 11, Analysis of net assets between funds (continued) Analysis of net assets bgtwoen funds - prior ygar UnfEStricted Endowmenl funds funds 2024 2024 Total fvnds 2024 Tangible fixed assets Cuffenl assets 3.591 56,738 3,591 56, 738 Total 60,329 60,329 Page 16