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← Gorazde Children's Foundation Bosnia

2023-08-31-accounts

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Registered Charity No: 1155036

GORAZDE CHILDREN’S FOUNDATION BOSNIA ACCOUNTS 31 AUGUST 2023

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C O N T E N T S Page
TRUSTEES’ REPORT 1 - 3
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES 4
STATEMENT OF FINANCIAL ACTIVITES 5
BALANCE SHEET 6
NOTES TO THE ACCOUNTS 7 - 11

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

REPORT OF THE TRUSTEES

The Trustees present their report and the accounts for the year ended 31 August 2023.

1 REFERENCE AND ADMINISTRATIVE INFORMATION

Charity number: 1155036 Address: The Old Vicarage Church Lane Eldersfield GL19 4NP Bankers: The Royal Bank of Scotland Plc 5 Church Street Sheffield S1 1HF

Independent Examiner: S Lawrence DChA FCA Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Trustees:

The Trustees who served during the year were:

M Evlyn-Bufton Chair and Trustee R Evlyn-Bufton Trustee (resigned 13 July 2023) N C Scott Trustee

2 STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust is an unincorporated association and registered charity, governed by its Trust Deed dated 20 May 2013.

The body of Trustees shall consist when complete of no fewer than two but (unless otherwise determined by a resolution of the charity in general meeting) shall not be subject to any maximum.

The Trust in general meeting shall elect the Officers and the other Trustees. The Trustees may appoint any person who is willing to act as a Trustee. They may also appoint Trustees as Officers unless a person has already been elected or appointed to that office and has not vacated the office.

No Trustee may be paid or receive any other benefit for being a Trustee. A Trustee may pay out of, or be reimbursed from, the property of the Trust reasonable expenses properly incurred by him or her when acting on behalf of the Trust.

The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to mitigate exposure to the major risks.

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

REPORT OF THE TRUSTEES

3 OBJECTS AND ACTIVITIES

The charity uses its Trustees’ networks with tier 1 investment bankers and high net worth individuals to raise funds for the continued good work. Members also raise funds through sporting endeavours. The Trustees confirm that they have referred to the guidance contained in the charity commission’s general guidance on the public benefit when reviewing the Trust’s aims and objectives and in planning future activities.

4 ACHIEVEMENTS AND PERFORMANCE

Fundraising in the past period focused on meeting the obligations as outlined in the last annual report: “The target sum is GBP £100,000, with an estimated 50% to fund the memorial and 50% the school. The school has agreed the target is linked to the refurbishment of the playground and the school gymnasium”.

This effort has been supported in the ensuing period by: (a) on-going donations from the global financial services COO community (b) London charitable dinner (c) charity cycle ride Sarajevo to Gorazde (d) regimental donations from the 3 British Army regiments that served in Gorazde, Bosnia (1994 – 1995).

Funds were successfully raised and transferred for the design, construction and opening of the memorial, above the city of Gorazde, with British army, guest COOs, local dignitaries, townsfolk in attendance; further funds were raised and transferred for the successful refurbishment of the school’s playground area; 23 bicycles were donated to the town’s head of social services for distribution to families without transport and 2 children were awarded the English essay prize to come to England for 3 days.

The books on the asset register (Donkey Mail and Bully Beef) do not realise any revenues through direct sales but have been used to continued great effect through the donation to the regimental museum in Gloucester, to all charity riders and the genocide museum in Sarajevo. All monies to go to the museums. The remaining period to 2023 into Q1 and Q2 of 2024 will be focused on the main event next year: the GCF100 – aiming to get 100 cyclists to Bosnia for the charity cycle ride.

5 FINANCIAL REVIEW

The Trustees consider the finances of the charity as set out on pages 4 to 6 to be satisfactory.

6 RESERVES POLICY

The Trust holds cash and bank funds of £3,941 at the year end. These funds are held in order to meet the day-to-day expenditure of the Trust and any unforeseen expenditure that may occur.

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

REPORT OF THE TRUSTEES 7 STATEMENT OF TRUSTEE’S RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the accounts in according with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its movement in funds for that year. In preparing those accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable 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 protection of fraud and other irregularities.

For and on behalf of the Trustees

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M Evlyn-Bufton – Chair

Date: 11/7/2024

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

Independent Examiner’s Report to the Trustees of Gorazde Children’s Foundation

I report on the accounts of the Trust for the year ended 31 August 2023 which are set out on pages 5 to 11.

Respective responsibilities of the charity trustees and examiner

The charity trustees are responsible for the preparation of the accounts. The charity trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the directors trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

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 material respect:

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.

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S LAWRENCE DChA FCA HAZLEWOODS LLP Staverton, Cheltenham

Chartered Accountants and Registered Auditors

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 August 2023

Unrestricted Restricted
Funds
Funds
Notes
£
£
INCOME AND EXPENDITURE
Income and endowments from:
Fundraising activities
Book Sales
-
-
Charity bike ride
3
42,287
-
Donations and legacies
Donations
4
52,810
-
Investments
Bank interest
100
-
_
_
TOTAL INCOME
95,197
-


Expenditure on:
Raising funds
5
71,830
1,300
Charitable activities
6
81,000
5,000
Other
7
1,272
-
_
_
TOTAL EXPENSES
154,102
6,300


NET MOVEMENT IN FUNDS
(58,905)
(6,300)
ACCUMULATED FUND CARRIED
FORWARD AT BEGINNING OF YEAR
61,568
6,300
_
_
ACCUMULATED FUND CARRIED
FORWARD AT END OF YEAR
2,663
-

 Total
2023
£
-
42,287
52,810
100
_
95,197

73,130
86,000
1,272
_
160,402

(65,205)
67,868
_
2,663
Total
2022
£
26
7,413
38,335
7
_
45,781
4,202
1,714
1,194
_
7,110
38,671
29,197
_
67,868

The notes on pages 7 to 11 form part of these accounts.

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

BALANCE SHEET

as at 31 August 2023
Unrestricted Restricted
Funds
Funds
Notes
£
£
CURRENT ASSETS
Stock
-
-
Cash at bank and in hand
3,941
-
_
_
3,941
-
_
_
LIABILITIES
Creditors – falling due within one year
8
(1,278)
-
_
_
NET CURRENT ASSETS
2,663
-
_
_
NET ASSETS
2,663
-


REPRESENTED BY:
Accumulated fund
9
2,663
-

 Total
2023
£
-
3,941
_
3,941
_
(1,278)
_
2,663
_
2,663

2,663
 Total
2022
£
25,490
43,578
_
69,068
_
(1,200)
_
67,868
_
67,868
_
67,868

11/7/2024

Approved by the Board of Trustees on …………………… and signed on their behalf by:

………………………………

M Evlyn-Bufton – Chair

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

NOTES TO THE ACCOUNTS

for the year ended 31 August 2023

1 ACCOUNTING POLICIES

Basis of preparation and assessment of going concern

The accounts have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The presentational currency of the accounts is UK £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these accounts are rounded to the nearest £.

Gorazde Children’s Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The trustees consider that there are no material uncertainties about the company’s ability to continue as a going concern.

Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure heading.

Stock

Stock is valued at the lower of cost and net realisable value.

Other costs

Other costs include all costs incurred in the running of the charity which cannot be directly allocated to the Trust’s projects or fundraising.

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

NOTES TO THE ACCOUNTS

for the year ended 31 August 2023

2 TRUSTEES’ REMUNERATION

The Trust had no employees and incurred no staff costs. Consequently, no trustee received any remuneration. In addition, no trustees were reimbursed any expenses.

3 INCOME FROM FUNDRAISING ACTIVITIES

Of the income received of £42,287 in 2023 (2022: £7,439), £42,287 (2022: £6,139) was unrestricted funds and £Nil (2022: £1,300) was restricted funds.

4 DONATIONS AND LEGACIES

Of the income received of £52,810 in 2023 (2022: £38,335), £52,810 (2022: £33,335) was unrestricted funds and £Nil (2022: £5,000) was restricted funds.

5 COST OF RAISING FUNDS (all unrestricted funds)

Unrestricted Restricted
Funds
Funds
£
£
Publication costs
25,490
-
Charity fundraising dinner costs
17,583
-
Charity bike ride costs
28,196
1,300
Other fundraising costs
561
-
Selling fees
-
-

_
71,830
1,300

 Total
2023
£
25,490
17,583
29,496
561
-
_

73,130
 Total
2022
£
2,816
-
-
1,378
8
_
4,202

Of the publication costs of £25,490 in 2023, this includes a write down of stock value of £23,072 in respect of the Donkey Mail and Bully Beef books which were previously held as stock. This has been written down in line with the accounting policy of recognising stock at the lower of cost and net realisable value. As referred to in the achievements and performance note within the report of the trustees, the books that were held in stock do not realise any revenue through sales and are instead gifted to museums and sponsors.

6 CHARITABLE ACTIVITIES

Unrestricted Restricted
Funds
Funds
£
£
Donations
4,897
-
Memorial costs
50,254
5,000
School renovation project
25,849
-

_
81,000
5,000

 Total
2023
£
4,897
55,254
25,849
_

86,000
 Total
2022
£
1,714
-
-
_
1,714

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

NOTES TO THE ACCOUNTS

for the year ended 31 August 2023

7 OTHER (all unrestricted funds)

Unrestricted Restricted
Funds
Funds
£
£
Accountancy
636
-
Independent examiner’s fees
636
-

_
1,272
-

 Total
2023
£
636
636
_
_
1,272
 Total
2022
£
597
597
______
1,194
Unrestricted Restricted Total Total
Funds Funds 2023 2022
£ £ £ £
Accruals 1,278 - 1,278 1,200

9 FUNDS

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects.

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

NOTES TO THE ACCOUNTS

for the year ended 31 August 2023

10 ANALYSIS OF NET ASSETS BETWEEN FUNDING

Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fund balances at 31 August 2023 2,663 - 2,663
as presented by:
Current assets 3,941 - 3,941
Current liabilities (1,278)
-		 (1,278)
_ _ _
2,663 - 2,663

11 ANALYSIS OF UNRESTRICTED FUND MOVEMENTS

At 1
September
2022
£
General Fund 61,568
_
61,568

Comparative information
At
1 September
2021
£
General Fund 29,197
_
29,197		 Transfer
At
from
31 August
Income Expenditure
Restricted
2023
£
£
£
£
95,197
(154,102)
-
2,663
__
_
_
_
95,197
(154,102) - 2,663




Transfer
At
from
31 August
Income Expenditure
Restricted
2022
£
£
£
£
39,481
(7,110)
-
61,568
_
_
_
____
39,481
(7,110) - 61,568

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GORAZDE CHILDREN’S FOUNDATION BOSNIA

NOTES TO THE ACCOUNTS

for the year ended 31 August 2023

12 ANALYSIS OF RESTRICTED FUND MOVEMENTS

At Transfer At
1 September from 31 August
2022 Income Expenditure Unrestricted 2023
£ £ £ £ £
Fund 1
Bike ride 1,300 - (1,300) - -
Fund 2
Memorial 5,000
-		 (5,000) - -
_ ______ _ _ _
6,300 - (6,300) - -

Purpose of restricted funds

Fund 1

2023 charity bike ride from Sarajevo to Gorazde.

Fund 2

A donation towards the build of a memorial dedicated to the sacrifice and service of the British Army under UN command in 1994 - 1995 in the city of Gorazde.

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Trustees’ Annual Report for the period

From 01/09/2022 Period start date To 31/08/2023 Period end date

Charity name: Gorazde Children’s Foundation Bosnia

Charity registration number: 1155036

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 As per the Trust Deed, the aim of Gorazde
Children’s Foundation Bosnia isto advance
the education of the pupils at Gorazde
primary school, Bosnia and Herzegovina,
through the provision of facilities not
provided by local education authority, for
the education through the medium of
English at school.
To also assist in such ways as the charity
trustees see fit to advance education at
Gorazde primary school. This is done by
developing their mental, physical, and
moral capabilities through sporting and
leisure activities.
To assist in any other projects, which would
enhance and support the
education/wellbeing of children, that the
charity trustees see fit from time-to-time
To be involved in projects relating to the
Bosnian conflict (1992-1995 )
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 The charity uses its Trustees’ networks with
tier 1 investment bankers and high net
worth individuals to raise funds for the
continued good works. Members also raise
funds through sporting endeavours.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The Trustees confirm that they have
referred to the guidance contained in the
charity commission’s general guidance on
the public benefit when reviewing the
Trust’s aims and objectives and in planning
future activities.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference

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Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Fundraising in the past period focused on
meeting the obligations as outlined in the
last annual report: “The target sum is GBP
£100,000, with an estimated 50% to fund
the memorial and 50% the school. The
school has agreed the target is linked to
the refurbishment of the playground and
the school gymnasium”.
This effort has been supported in the
ensuing period by: (a) on-going donations
from the global financial services COO
community (b) London charitable dinner (c)
charity cycle ride Sarajevo to Gorazde (d)
regimental donations from the 3 British
Army regiments that served in Gorazde,
Bosnia (1994–1995).
Funds were successfully raised and
transferred for the design, construction and
opening of the memorial, above the city of
Gorazde, with British army, guest COOs,
local dignitaries, townsfolk in attendance;
further funds were raised and transferred
for the successful refurbishment of the
school’s playground area; 23 bicycles were
donated to the town’s head of social
services for distribution to families without
transport and 2 children were awarded the
English essay prize to come to England for
3 days.

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The books on the asset register (Donkey Mail and Bully Beef) do not realise any revenues through direct sales but have been used to continued great effect through the donation to the regimental museum in Gloucester, to all charity riders and the genocide museum in Sarajevo. All monies to go to the museums. The remaining period to 2023 into Q1 and Q2 of 2024 will be focused on the main event – next year: the GCF100 aiming to get 100 cyclists to Bosnia for the charity cycle ride.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

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Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The trustees consider the finances of the
charity as set out in the accounts to be
satisfactory
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Funds are held in order to meet the day-to-
day expenditure of the Trust and any
unforeseen expenditure that may occur.
Amount of reserves held Para 1.22 The Trust holds cash and bank funds of
£3,941 at the year end.
Reasons for holding zero
reserves		 Para 1.22 N/A
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 N/A

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other

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Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust Deed
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Unincorporated association and registered
charity
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 The body of Trustees shall consist when
complete of no fewer than two but (unless
otherwise determined by a resolution of the
charity in general meeting) shall not be
subject to any maximum.
The Trust in general meeting shall elect the
Officers and the other Trustees. The
Trustees may appoint any person who is
willing to act as a Trustee. They may also
appoint Trustees as Officers unless a
person has already been elected or
appointed to that office and has not
vacated the office

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charity name Gorazde Children’s Foundation Bosnia
Other name the charity uses N/A
Registered charity number 1155036
Charity’s principal address Belford Cottage
Back Lane
Malvern
Worcestershire
WR14 2HJ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Maurice Evlyn-
Bufton		 Chair and Trustee
Nicholas Scott Trustee

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

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Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Maurice Evlyn-Bufton

Chair
28/06/2024
28/06/2024