OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-01-31-accounts

REGISTERED COMPANY NUMBER: 07797095 (England and Wales) REGISTERED CHARITY NUMBER: 1144812

Strategic Report, Report of the Trustees and

Financial Statements

for the Year Ended 31st January 2024

for

Orphans in Need

Sadofskys Statutory Auditors Princes House Wright Street Hull East Yorkshire HU2 8HX

Orphans in Need

Contents of the Financial Statements for the year ended 31st January 2024

Page
Strategic Report 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 26

Orphans in Need

Strategic Report for the year ended 31st January 2024

The trustees present their strategic report for the year ended 31st January 2024.

REVIEW OF BUSINESS

The charity continued its charitable activities during the year.

Total income increased from £15.7m in the previous year to £22.5m.

However net income decreased from £3.4m to £1.3m and net assets increased from £11.2m to £12.5m.

The trustees are therefore pleased with the performance and will seek to continue this good work.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit Risk

The charity does not rely on credit loans and maintains sufficient cash reserves to mitigate associated risks.

Liquidity Risk

With a cash reserve of £13 million, the charity remains in a stable financial position.

Foreign Exchange Risk

The charity maintains strong relationships with financial service providers to manage foreign exchange risks effectively.

Interest Rates and Cash Flow Risk

The charity maintains a favorable cash balance and considers these risks to be minimal.

Orphans in Need employs a rigorous Assurance Framework, which includes internal audits and the use of external experts to ensure robust governance, risk management, and internal controls. The Senior Leadership Team (SLT) and the Board of Trustees closely monitor organisational risks, ensuring proactive management to protect the interests of beneficiaries and supporters.

Approved by order of the board of trustees on 28th October 2024 and signed on its behalf by:

A Musa - Trustee

Page 1

Orphans in Need (Registered number: 07797095)

Report of the Trustees for the year ended 31st January 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st January 2024. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives, aims and public benefit

Orphans in Need remains steadfast in its mission, which is solely dedicated to public benefit.

The charity's core objectives are:

-To alleviate poverty and illness globally, particularly among those affected by natural disasters, wars, and conflicts, both within their home countries and internationally. This is achieved through the provision of financial assistance or other forms of aid, including but not limited to medicines, shelter, furniture, educational supplies, food, clothing, sanitation, and clean drinking water. Additionally, the charity supports the construction of schools, hospitals, and medical centers.

-To advance education for orphaned children and other individuals in need across the world by providing financial support and necessary materials such as books, furniture, clothing, and electronic devices. The charity also facilitates the construction of educational institutions including schools, colleges, training centers, orphanages, and universities.

The trustees have meticulously ensured that all activities are aligned with the Charity Commission's guidelines on public benefit.

Grantmaking

Orphans in Need continually seeks out and collaborates with organisations that can effectively further its mission. Grants are awarded to these organisations when they are found to be aligned with Orphans in Need's policies and overarching goals.

Page 2

Orphans in Need (Registered number: 07797095)

Report of the Trustees for the year ended 31st January 2024

Achievement and performance

2023 Highlights

-The charity has sustained its one-to-one orphan sponsorship programme, distributed food parcels to widows, and broadened its support for orphaned children through the Global Orphan Care campaign.

-The establishment of Orphans in Need USA in December 2021 was a significant milestone, now playing a crucial role in securing funds for the charity's mission.

-Progress has been made in the school project, with land acquired in Haryana, Bihar, and Nepal. Architectural plans for the inaugural school in Haryana, near New Delhi, are now underway.

Orphan Sponsorship

Our orphan sponsorship programme supports over 13,000 children across 14 countries, providing them with a monthly stipend that contributes to their education, nutrition, clothing, and other essentials. Our local partners ensure that these children receive at least a basic level of education. We strive to keep children within their extended families wherever possible, allowing them to attend school instead of being forced into begging or manual labor. The success of this programme is a testament to the generosity of our donors.

Global Orphan Care

Through the Global Orphan Care programme, we have extended our support beyond the sponsorship programme, providing additional resources to orphaned children and widows. This includes extensive medical care, housing assistance for orphanages, and emergency aid, which was especially vital during the COVID-19 pandemic.

Orphan Village and Orphanages

Our Orphans' Village in Delhi continues to offer care to hundreds of orphaned children and widows. Our orphanages in Jammu and Kashmir, such as Bait ul Altaf and Bait ul Salaam, are rigorously monitored to ensure the well-being of the orphans under our care. These children receive food, clothing, medical support, counselings, and education.

Governance, Administration and Monitoring

We maintain strict controls over expenditure to ensure that donor funds are utilised efficiently and effectively for the benefit of orphans and widows. Regular monitoring visits and comprehensive documentation ensure that we meet our charitable objectives. The charity is committed to transparency and accountability, having signed up to the Code of Fundraising Practice in the UK, and collaborates with the Fundraising Regulator to ensure ethical and transparent fundraising practices.

Pakistan Branch Update

In 2023, the trustees have included a review of the operations of our Pakistan branch. The branch has been instrumental in delivering key initiatives, including orphan sponsorship programs, educational support, and emergency aid distribution in Pakistan. The branch’s activities align with Orphans in Need’s global objectives, and it has played a critical role in extending our support to some of the most vulnerable communities in the region.

It is important to note that the financial figures from the Pakistan branch are fully integrated into the charity’s overall accounts. This ensures transparency and accuracy in reflecting the branch’s contributions to our global efforts. The trustees are committed to ongoing monitoring and support for the Pakistan branch to ensure that it continues to meet the high standards of service delivery and financial governance established across all Orphans in Need operations.

FINANCIAL REVIEW

Reserves policy

The trustees regularly assess the charity's risks and actively monitor its reserves. Given that the charity's work progresses only when funds are available and that there are no significant ongoing commitments, the trustees have established a minimal reserve of £100,000 for contingencies. As of the year-end, the charity holds more than this amount due to funds raised for projects that are yet to be initiated.

Going concern

There are no material uncertainties relating to events or conditions that cast significant doubt on the Charity's ability to continue as a going concern.

Page 3

Orphans in Need (Registered number: 07797095)

Report of the Trustees for the year ended 31st January 2024

FINANCIAL REVIEW

Income and Expenditure

The charity's income for the year 2023/24 was £22.5 million, with unrestricted funds totalling £13.6 million by year-end. The trustees are confident that all funds have been applied effectively and judiciously.

FUTURE PLANS

Looking ahead, Orphans in Need acknowledges the continuing challenge posed by rising global prices for food, fuel, and other essential items. This situation not only increases the needs of our beneficiaries but also complicates fundraising efforts, particularly as our UK-based donors face their own rising cost of living. Despite these challenges, we will persist in developing our orphan sponsorship programme and enhancing our educational initiatives by constructing schools in key locations. Our first school, near the Orphans' Village in Haryana, New Delhi, will be followed by expansions in Bihar and Nepal. These schools are envisioned to provide high-quality education to children who otherwise lack access to such opportunities. Our ultimate goal is to empower these children with the knowledge and skills they need to pursue higher education and achieve their career aspirations.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Orphans in Need is incorporated as a company limited by guarantee and is registered as a charity number 1144812.

The trustees, who are also the directors of the company, are responsible for the overall management and control of the company working with other persons on an entirely voluntary basis.

Recruitment and appointment of new trustees

Trustees are appointed in accordance with Orphans In Need constitution. Once appointed, Trustees are given introduction of the charity and information about its objects; Trustees are also given the copy of the constitution and the aims and objective. Role descriptions are issued to each Trustee and full induction is given setting out the obligations of a trustee. All trustees are issued with a copy of the Charity Commission's guide "The Essential Trustee".

The trustees meet every 6 weeks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07797095 (England and Wales)

Registered Charity number

1144812

Registered office

Windsor House 10 Manchester Road Bradford West Yorkshire BD5 0QH

Trustees

A Musa Director I Vania Teacher A Mohammad Director Mrs L M Bansal Director

Page 4

Orphans in Need (Registered number: 07797095)

Report of the Trustees for the year ended 31st January 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Sadofskys Statutory Auditors Princes House Wright Street Hull East Yorkshire HU2 8HX

Bankers

National Westminster Bank plc Corporate Services Team PO Box 111 1 Victoria Place Leeds LS11 4AN

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Orphans in Need for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

AUDITORS

The auditors, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Page 5

Orphans in Need (Registered number: 07797095)

Report of the Trustees for the year ended 31st January 2024

Approved by order of the board of trustees on 28th October 2024 and signed on its behalf by:

A Musa - Trustee

Page 6

Report of the Independent Auditors to the Members of Orphans in Need

Opinion

We have audited the financial statements of Orphans in Need (the 'charitable company') for the year ended 31st January 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 7

Report of the Independent Auditors to the Members of Orphans in Need

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

Report of the Independent Auditors to the Members of Orphans in Need

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud and irregularities relating to revenue recognition we:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Page 9

Report of the Independent Auditors to the Members of Orphans in Need

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Drant ACA (Senior Statutory Auditor) for and on behalf of Sadofskys Statutory Auditors Princes House Wright Street Hull East Yorkshire HU2 8HX

28th October 2024

Page 10

Orphans in Need

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31st January 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
5
General
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
General
Other
10
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
8,045,715
-
229,811
8,275,526
1,950,367
5,027,843
36,570
7,014,780
1,260,746
12,276,186
13,536,932		 Restricted
fund
£
14,214,654
-
-
14,214,654
-
14,214,654
-
14,214,654
-
-
-		 2024
Total
funds
£
22,260,369
-
229,811
22,490,180
1,950,367
19,242,497
36,570
21,229,434
1,260,746
12,276,186
13,536,932		 2023
Total
funds
£
15,719,379
1,408
51,383
15,772,170
1,573,438
10,814,718
(31,487)
12,356,669
3,415,501
8,860,685
12,276,186

The notes form part of these financial statements

Page 11

Orphans in Need (Registered number: 07797095)

Balance Sheet 31st January 2024

Notes
FIXED ASSETS
Intangible assets
15
Tangible assets
16
Investment property
17
CURRENT ASSETS
Debtors
18
Cash at bank
CREDITORS
Amounts falling due within one year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
19,107
927,314
125,000
1,071,421
275,365
12,984,053
13,259,418
(793,907)
12,465,511
13,536,932
13,536,932		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
19,107
927,314
125,000
1,071,421
275,365
12,984,053
13,259,418
(793,907)
12,465,511
13,536,932
13,536,932
13,536,932
13,536,932		 2023
Total
funds
£
30,734
852,837
125,000
1,008,571
343,696
11,828,900
12,172,596
(904,981)
11,267,615
12,276,186
12,276,186
12,276,186
12,276,186

The financial statements were approved by the Board of Trustees and authorised for issue on 28th October 2024 and were signed on its behalf by:

A Musa - Trustee

The notes form part of these financial statements

Page 12

Orphans in Need

Cash Flow Statement for the year ended 31st January 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2024
£
1,026,170
1,026,170
(908)
(93,620)
223,511
128,983
1,155,153
11,828,900
12,984,053		 2023
£
3,515,635
3,515,635
(11,589)
(18,739)
45,083
14,755
3,530,390
8,298,510
11,828,900

The notes form part of these financial statements

Page 13

Orphans in Need

Notes to the Cash Flow Statement for the year ended 31st January 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2024 2023
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 1,260,746 3,415,501
Adjustments for:
Depreciation charges 31,678 32,317
Interest received (223,511) (45,083)
Decrease/(increase) in debtors 68,331 (167,518)
(Decrease)/increase in creditors (111,074) 280,418
Net cash provided by operations 1,026,170 3,515,635
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Total		 At 1/2/23
£
11,828,900
11,828,900
11,828,900		 Cash flow
£
1,155,153
1,155,153
1,155,153		 At 31/1/24
£
12,984,053
12,984,053
12,984,053

The notes form part of these financial statements

Page 14

Orphans in Need

Notes to the Financial Statements

for the year ended 31st January 2024

1. PAKISTAN BRANCH

The audited figures include activity from the Pakistan branch, Orphans in Need Pakistan. Orphans in Need Pakistan is not a separate legal entity, the branch is legally and structurally part of Orphans in Need UK.

The law of Pakistan declares that all INGOs operating in Pakistan to register themselves with the Ministry of Interior by signing a Memorandum of Understanding (MoU). The organisation has signed the MoU with the Government of Pakistan on 6th September 2022, which was valid until 5th September 2024. An application for the MoU to be extended is currently in place with the Ministry of Interior. We are confident that the renewal will be accepted shortly after the filing of the 31st January 2024 accounts.

All registered INGOs of Pakistan are hereby directed to have their annual financial audits undertaken by one of the approved audit firms available on the official website of the State Bank of Pakistan. This year the activities in Pakistan have been locally audited by Riaz Ahmad & Co, Chartered Accountants, a category A approved audit firm in Pakistan.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Orphans in Need is a company, limited by guarantee, registered in England and Wales. The company's registered numbers and registered office can be found on the Report of the Trustees on page 3.

The presentation currency of the financial statements is the Pound Sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity's accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which they relate.

Key judgements concerned the inclusion of a provision for payments via the Pakistan branch of £672k post year end which had been delayed due to registration issues only.

Key estimates are the carrying value of freehold properties under the revaluation model.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.There are three main types of income

Donations - for these to be recognised the charity will have been notified of the amounts and the settlement date in writing. if there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable they will be fulfilled.

continued...

Page 15

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

2. ACCOUNTING POLICIES - continued

Income

Gift Aid - this is recognised as claimed and receivable from HMRC.

Donated Facilities and Professional Services - these are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Website costs

Website costs are amortised over 5 years.

TV Commercials are amortised over 5 years.

Accounting softwares are amortised over 3.33 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 33% on cost

Freehold Property is held under the revaluation model.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. 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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 16

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

2. ACCOUNTING POLICIES - continued

Government grants

Government grants are recognised using the accruals model. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the assets to which they relate.

A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs, is credited to income in the period in which it becomes receivable.

3. DONATIONS AND LEGACIES

----- Start of picture text -----
2024 2024 2024 2023
Restricted Unrestricted Total Total
£ £ £ £
Donations 5,362,060 6,881,434 12,243,494 11,398,229
Gift Aid - 1,122,995 1,122,995 1,265,083
Donated Services and Facilities 8,852,594 - 8,852,594 3,056,067
14,214,654 8,004,429 22,219,083 15,719,379
----- End of picture text -----

Restricted income is based on the donors specified cause. A breakdown is provided below.

2024 2023
Water
Orphans
Places of Worship
Food
Emergency
Medical Supplies		 £
765
3,419,996
-
1,941,299
-
8,852,594
14,214,654		 £
1,040
4,939,188
120
2,615,141
950
3,056,067
10,612,531

Cause details:

Water - Project to provide access to clean water.

Orphans - Sponsorship of orphans helps house orphans throughout the world in order to help ensure that they receive an education, food, healthcare and medical support that children need.

Places of Worship - Providing the community with a place to congregate for Worship and community activities. Food - Providing monthly food parcels to widows and orphans.

Emergency - Providing emergency aid to conflict areas.

Medical Supplies - Medical supplies donated and supplied by a partner.

continued...

Page 17

Orphans in Need

Notes to the Financial Statements - continued

for the year ended 31st January 2024

4.
INVESTMENT INCOME
Rents received
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Grants
6.
RAISING FUNDS
Raising donations and legacies
Staff costs
Postage and stationery
Digital exposure
Marketing
Fund raising expenses
Telephone
Motor and travel
Accomodation
Bank charges
7.
CHARITABLE ACTIVITIES COSTS
Direct
Costs
£
General
1,196,229		 Grant
funding of
activities
(see note
8)
£
17,993,910		 2024
£
6,300
223,511
229,811
2024
Total
activities
£
-
2024
£
325,497
13,161
723,554
352,097
434,501
8,429
44,389
7,984
40,755
1,950,367
Support
costs (see
note 9)
£
52,358		 2023
£
6,300
45,083
51,383
2023
Total
activities
£
1,408
2023
£
320,599
15,451
366,504
355,397
365,329
10,964
71,819
25,517
41,858
1,573,438
Totals
£
19,242,497

continued...

Page 18

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

8. GRANTS PAYABLE

GRANTS PAYABLE
General
The total donations paid to institutions during the year was as follows:		 2024
£
17,993,910		 2023
£
9,790,520
Orphans in Need - India
Orphans in Need - Jammu & Kashmir
Alsabil Welfare House
Orphans in Need - Pakistan
Novo Jibon
OIN Nepal
OIN USA
African Development Trust
Donated Pharmaceuticals
Other grants of less than £150,000 in the period		 2024
£
5,697,527
820,363
796,664
-
291,067
223,908
-
337,891
8,852,594
973,896
17,993,910		 2023
£
1,343,054
1,571,778
1,141,791
300,400
268,673
647,489
532,434
194,662
3,056,067
734,171
9,790,519

A full list of individual grants and projects is available from our principal office.

9. SUPPORT COSTS

Governance
Management
costs
£
£
General
9,309
43,049
10.
OTHER
2024
£
Foreign exchange
36,570
Loans written off
-
36,570		 Totals
£
52,358
2023
£
2,078
(33,565)
(31,487)

The loan written off relates to the recovery of the Cafe Blu loan.

continued...

Page 19

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£ £
Auditors' remuneration 10,411 6,200
Depreciation - owned assets 19,143 20,075
Accounting Software amortisation 100 -
TV Commercial amortisation 2,318 2,125
Website Costs amortisation 10,117 10,117

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st January 2024 nor for the year ended 31st January 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st January 2024 nor for the year ended 31st January 2023.

13. STAFF COSTS

Wages and salaries
Social security costs
Pension		 2024
£
712,402
63,210
11,869
787,481		 2023
£
628,993
51,206
9,667
689,866

The average monthly number of employees during the year was as follows:

2024 2023
38 28

continued...

Page 20

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
5,106,848
Charitable activities
General
1,408
Investment income
51,383
Total
5,159,639
EXPENDITURE ON
Raising funds
1,573,438
Charitable activities
General
202,187
Other
(31,487)
Total
1,744,138
NET INCOME
3,415,501
RECONCILIATION OF FUNDS
Total funds brought forward
8,860,685
TOTAL FUNDS CARRIED FORWARD
12,276,186		 Restricted
fund
£
10,612,531
-
-
10,612,531
-
10,612,531
-
10,612,531
-
-
-		 Total
funds
£
15,719,379
1,408
51,383
15,772,170
1,573,438
10,814,718
(31,487)
12,356,669
3,415,501
8,860,685
12,276,186

continued...

Page 21

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

15.
INTANGIBLE FIXED ASSETS
Accounting
TV
Website
Software
Commercial
Costs
£
£
£
COST
At 1st February 2023
-
11,589
50,584
Additions
908
-
-
At 31st January 2024
908
11,589
50,584
AMORTISATION
At 1st February 2023
-
2,125
29,314
Charge for year
100
2,318
10,117
At 31st January 2024
100
4,443
39,431
NET BOOK VALUE
At 31st January 2024
808
7,146
11,153
At 31st January 2023
-
9,464
21,270
16.
TANGIBLE FIXED ASSETS
Improvements
Freehold
to
property
property
£
£
COST
At 1st February 2023
800,000
-
Additions
-
71,654
At 31st January 2024
800,000
71,654
DEPRECIATION
At 1st February 2023
-
-
Charge for year
-
-
At 31st January 2024
-
-
NET BOOK VALUE
At 31st January 2024
800,000
71,654
At 31st January 2023
800,000
-		 Totals
£
62,173
908
63,081
31,439
12,535
43,974
19,107
30,734
Plant and
machinery
£
-
86
86
-
1
1
85
-

continued...

Page 22

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

16. TANGIBLE FIXED ASSETS - continued

COST
At 1st February 2023
Additions
At 31st January 2024
DEPRECIATION
At 1st February 2023
Charge for year
At 31st January 2024
NET BOOK VALUE
At 31st January 2024
At 31st January 2023		 Fixtures
and
fittings
£
103,649
10,968
114,617
75,053
5,394
80,447
34,170
28,596		 Motor
vehicles
£
9,778
10,142
19,920
8,220
696
8,916
11,004
1,558		 Computer
equipment
Totals
£
£
223,349
1,136,776
770
93,620
224,119
1,230,396
200,666
283,939
13,052
19,143
213,718
303,082
10,401
927,314
22,683
852,837

The Freehold Property was professionally valued by Hayfield Robinson in October 2021. Original cost was £644,091.

17. INVESTMENT PROPERTY

FAIR VALUE
At 1st February 2023
and 31st January 2024
NET BOOK VALUE
At 31st January 2024
At 31st January 2023		 £
125,000
125,000
125,000

The investment property was professionally valued by Hayfield Robinson in October 2021.

continued...

Page 23

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

18.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Other debtors
100,525
Prepayments
174,840
275,365
19.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Trade creditors
69,731
Social security and other taxes
14,175
Other creditors
12,946
Accrued expenses
697,055
793,907
20.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
£
Within one year
15,000
Between one and five years
-
15,000
21.
MOVEMENT IN FUNDS
Net
movement
At 1/2/23
in funds
£
£
Unrestricted funds
General fund
12,276,186
1,260,746
TOTAL FUNDS
12,276,186
1,260,746		 2023
£
82,974
260,722
343,696
2023
£
109,667
12,752
8,677
773,885
904,981
2023
£
28,513
27,580
56,093
At
31/1/24
£
13,536,932
13,536,932

continued...

Page 24

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 Incoming
resources
£
8,275,526
14,214,654
22,490,180
At 1/2/22
£
8,860,685
8,860,685
follows:
Incoming
resources
£
5,159,639
10,612,531
15,772,170		 Resources
expended
£
(7,014,780)
(21,229,434)
Net
movement
in funds
£
3,415,501
3,415,501
Resources
expended
£
(1,744,138)
(10,612,531)
(12,356,669)		 Movement
in funds
£
1,260,746
-
1,260,746
At
31/1/23
£
12,276,186
12,276,186
Movement
in funds
£
3,415,501
-
3,415,501

continued...

Page 25

Orphans in Need

Notes to the Financial Statements - continued for the year ended 31st January 2024

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/2/22
£
8,860,685
8,860,685		 Net
movement
in funds
£
4,676,247
4,676,247		 At
31/1/24
£
13,536,932
13,536,932

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted Fund
TOTAL FUNDS		 Incoming
resources
£
13,435,165
24,827,185
38,262,350		 Resources
expended
£
(8,758,918)
(24,827,185)
(33,586,103)		 Movement
in funds
£
4,676,247
-
4,676,247

Restricted funds relate to donations made by individuals to one of the charities specific projects/areas as per note 2.

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st January 2024.

Page 26