PATHTOPROSPER.ORG Indepe*r￿ TTrrouqh Path to Prosper Report and Financial Statements For the Year Ended 31 December 2022 UK Registered Charity No: 1155142 Path to Prosper Reference and Administrative Information Trustees Caroline Kennedy Jessica Severe Thomas Stewart Robert Alhadeff Rachael Shearer Kate Fitzgerald Chief Executive Lauren Weeks Princi l Office Flat 7 55 fisbury Road Hove East Sussex BN3 3BL Inde endent Examiner Patrick Reynolds FCA 73 The Rise Sevenoaks TN13 IRL Bankers Natwest 59 High Street Exeter EX4 3DL Path to Prosper Report of the Trustees for the Year Ended 31 December 2022 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's trust deed, the Charities Act 1993, and the statement of recommended practice= Accounting and Reporting by Charitie5 published in 2(X)5. Structure Governance and Mana ement Path to Prosper is a registered charity number 1155142 and is constituted under a trust deed dated 30 November 2020. The objectives ofthe charity are: The charity is established for the following charitable purposes for the benefit of young adults living in Eastern Uganda, in particular orphaned children or those affected by HIV.. l. The advancement of education and training. 2. The relief of poverty. 3. To advance in life and help young people through providing support and activities which develop their skills, capacities, and capabilities to enable them to participate in society as independent, mature, and responsible individuals. New trustees are appointed by the existing trustees and serve for five years after which they may put themselves forward for reappointment. The trust deed provides for a minimum of three trustees, to a maximum of nine trustees, with no more than 3 trustees due for reappointment in any one year. At the quarterly tru5tees' meetings. the trustees agree the broad Strategy and areas of activity for the trust, including consideration of grant making. investment, reserves and risk management policies and performance. The day to day administration is delegated to the Chief Executive Officer and the Financial Administrator. Risk Mana ement The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Trustees, Res onsibilities in Relation to the Financial Statements The trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom accounting Standards. The law applicable to charities in England and Wales requires the trusteelsl to prepare financial statements @ath fin•nthl year vjhlch and fatry￿v of the state crf affalrs of the charlty and of rescwrces and app4ratK)n of resources d the tharlty for that wknd. In prepa￿ these fln•tbcial staternents the tr￿tee5 are requlred to: Select suitable acCo￿ti￿ policies and tr*n appty them c¢yslstentlr, • Observe the methods •nd prlndpbes of the Chritles SORP,. Make judgments and estlmate5 that are reasonable and prudent; State vttother applicable aCC￿nting stsnd4rds TrKive been t￿1￿•￿ed. %*iect to anv departwes disclosed and explained in the finartial statements; and.. Prepare the finattlal stsiements t)n the 8oh* concÈrn basis unless It Is Inapprwl•le to wesume that the tharlty wll C￿on￿e In bu￿￿. Th• trustees are respMsil)le f(K keepin8 actO￿tI￿ records vthich disdose with reasonable a￿lTa£Y the fIna￿la1 ￿ltIOn of tt* tharity and ena￿ them to ascertain and to ensure rhat the financial ststemenis compfy wrth the Chamies Act 1993. the Charity IAccounts and Reports) Regulations 21JJ8 and the provisions of the trust deed. They afe è150 responsible for safeguardire the assets of the thafity and hefi￿ f¢Y taki•É re•50nable steps tor the prevention and detectim of fraud and other irregularitles. The trustees a￿ respwsrble for the maintenance and inte8rlty of tr* tharity and fifoK4al inf￿t￿M induded on the Chari￿5 website. Coniatt Websit Info@pathtopr05per.OT8 www.pathtoprospef.¢ Th15 rem was apprmd lry the bojrd of In*ees ￿ 12 March 2023 a￿1 siw*d on their behalf by Path to Prosper Inde￿dettt aamlner's report to the trusteeslmembers Path to Prosper (R¢8L%ter¢d Charity Nwnb¢r 1155142) on the account5 fur theyear ended 31 December 2022 set (Njt on pa8e5 5 tu 7 The charity's tr￿te￿ are respo￿*ble for the preparation ofthe accounts. The charitys trusrees cnn%ider thar an audit is not required for this year under sertion 144 of the CharitiÉ% Art 2011 {"the Charities Ad-) and that an Inde￿dent exaMi￿.0n is neede It is my responsibility to: - eAamine the accounts under sertion 14S of the Charities A - to follow the procedures13id down in the gener31 Dirertlons glven by the Charlty Commission lund¢r s¢rtion 14ulS)(b3 gf tht Chariti¢s Art, and - to stste whether partlcular mallers have come to myattendon. Basls ollndependentexanthi*s statement Ny Exami￿110￿ carrled in xcord*ce with 8eDerJl Directio￿ given by the Charity Comrnission. An examination indudcs a rcvicw of the accounting recorts kept by the chariry and a comparison of the accounts presented with those records. li also includes cDnsiderntion of any unusual items or disclosure5 in the accounts, and seeknng explanations frorn the trustees Lon¢ernSng any such martEr￿ The pn¥cedures undertaken dD nol provide 311 the Evidence that would be required in an auth'¢ and CofL8equendy no opinion is ￿en as to whether the accounrs present a 'tnte #nd falff ￿tW #nd tht repTrrt 1.% Ilmited tn those marrers stt our in the stxtrmenr Independent examl4erf5 Statrment In tonnects.on wlth Thy examination. no matter has come to rny attentfion whith gNes me reasonable cause to believe that in. anymaterial respert, the requirements to keep accounting retords in actordancp wtth sertiort 130 ofthe Charities AtL" and.. to prepare attounts which accord with the acrounts.llg record5 and compty with the aCcoUn￿ng requlrements of the Charlues Act have not been met or (o whlih, In my vplnlon. allentlon should be drawn In order to enable a proper under5tandln ofthe accounts to be reached. 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îëè| |||çôðëí| |||| |||ó ïôîîï| |||íìôéçç| |||ííôëéè| ̸» -¬¿¬»³»²¬ ±º º·²¿²½·¿´ ¿½¬·ª·¬·»- ·²½´«¼»- ¿´´ ¹¿·²- ¿²¼ ´±--»- ®»½±¹²·-»¼ ·² ¬¸» °»®·±¼ò ß´´ ·²½±³» ¿²¼ »¨°»²¼·¬«®» ¼»®·ª» º®±³ ½±²¬·²«·²¹ ¿½¬·ª·¬·»-ò Path to Prosper AS AT 31 OECEIAbSI 2022 sson 55.073 33.098 33.578 Cr•d#m: •Thxnts f•llk du• *#hln an• 678 78 ToL•I n•1 M••l• 33,5n Toiil 54.3 33.578 Path to Prosper Notes to the Accounts for the Year Ended 31 December 2022 Accountin olicies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the account5 are as follows= Basis of re aration The financial statements have been prepared in accordance with the Charities SORP 2015 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Path to Prosper meets the def inition 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 accounting policies. There are no material uncertainties about the charity's ability to continue. and so the going concern basis of accounting has been adopted. The accounts are presented in pounds sterling and rounded to the nearest pound. Income Income from donations and grants is recoEnised when the charity is entitled to the funds. Ex enditure Expenditure is recognised when a present legal or constructive obligation exists. Debtors Debtor5 are recognised at the settlement amount due. Creditors Creditors are recognised at the settlement amount. Financial instruments The charity only has financial instruments of a kind that qualify as basic financial instruments. Fund atcountin All funds are unrestricted funds. Statu5 Path to Prosper is a charity registered in England and Wales, with charity number 1155142. The principal office is Flat 7, 55 Tisbury Road, Hove. East Sussex, BN3 3BL