Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
Charity registration number 1162733
Company registration number 08677110 (England and Wales)
REDEEMED CAMP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
REDEEMED CAMP
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr B O Giwa Mrs D O Giwa Miss O I Dele-Giwa Mrs L O Brown Mr M Magbagbeola Secretary Miss O I Dele-Giwa Charity number 1162733 Company number 08677110 Registered office 3rd Floor 86-90 Paul Street London EC2A 4NE Independent examiner Noel Aloko FCCA abacus azure Chartered Certified Accountants 85-87 Bayham Street London NW1 0AG Bankers Cooperative Bank 1 Balloon Street Manchester M60 4EP Cambridge & Counties Bank Limited Charnwood Court 5B New Walk Leicester LE1 6TE Aldermore Bank Plc 1st floor Block B Western House Lynch Wood Peterborough PE2 6FZ Virgin Money Symington House 8 North Avenue Clydebank Business Park Clydebank G81 2NR
Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 17 |
Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
REDEEMED CAMP
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their annual report and financial statements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The Charity's objects are to further such exclusively charitable purposes under the law of England and Wales in any part of the world, within a Christian ethos, as the Directors may in their discretion think fit, and in particular (without prejudice to the generality of the foregoing):
(a) the advancement of the Christian faith for the public benefit in accordance with the holy bible.
(b) to relieve those in need by reason of financial hardship and sickness by providing or assisting in the provision of grants, items and services to individuals in need and/or charities, or other organisations’ with similar objects and by providing all the necessary support designed to enable individuals generate a sustainable income and be selfsufficient.
(c) to advance education by providing learning tools, educational resources and training programs.
There have been no changes in these during the year.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The focus of our work
Our charitable activities largely focus on supporting individuals and families facing social challenges and reducing the strain of everyday life by offering resources that make a difference. They are all undertaken to further our charitable purposes for the public benefit.
This financial year, we have advanced our objects primarily through our arms – Adun, The RC Education Initiative, For The Sake of Heaven & Connected Communities.
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a. Adun is the grant making and support providing arm of the Charity. Its purpose is to make well those in need of wellness; either through the provision of financial grants, material contributions or undertaking projects that positively impact quality of life.
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b. The RC Education Initiative is the arm of Redeemed Camp that works towards engineering social mobility within countries in the southern hemisphere. It funds three sub-divisions:
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The Scholarship Fund: The Scholarship Fund provides full scholarships to girls and teenage mothers who are limited by socio-cultural strictures that preclude them from formal education.
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Redeemed Camp Library: The Redeemed Camp Library hosts a digital collection of e-books made freely accessible globally for referencing and borrowing. It is a convenient mobile digital reading tool that makes life-impacting books available at the click of a button and on every device. The library forms part of the Redeemed Camp initiative to facilitate social mobility by making access to life impacting tools freely accessible. The library collection includes titles that cover literature, Classics, socio-economic and faith subjects authored by pastors, life coaches, inspirational and motivational bestselling writers. In addition, the library hosts a collection of titles from Harvard Business School, providing individuals an opportunity to learn from the best at no cost.
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Education Support Fund: Through this recent initiative, the Charity partners with educational institutions in developing countries to provide funding and equipment needed to deliver better quality education to their students and to support their teaching faculty.
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c. Through For The Sake of Heaven, Redeemed Camp’s digital Op-ed, we offer different perspectives on God and how man might have a fruitful fellowship with Him. Thousands of people from around the world engage with For The Sake of Heaven through the website and on social media.
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d. On the Connected Communities platform, various faith groups and Christian denominations exchange thoughts, ideas, prayers and promote their activities.
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e. Places of Worship Support Fund: This year we established a new programme to support places of worship, regardless of religious background, with unrestricted funding. Allocation is based on a calculation of a minimum 10% of the prior year’s income.
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. We also assess the success of each key activity and the benefits they have brought to those groups of people we aim to help. The review helps us ensure our aims, objectives and activities remain focused on our stated purposes.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Achievements and performance
We have benchmarked the Charity’s performance in the last 12 months against the strategic plans set out in our trustees Report for the previous financial year.
1. Education:
Total spend is £37,691. This is broken down as follows:
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a. Library:
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This year we invested £15,657 in maintaining the Library and the premium collections that have been enabled, such as the Harvard Business School collection, for users to access for free. Our website was revamped during the year to give greater prominence to the library and the resources available. We hope this will encourage increased use of the library over time.
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b. Scholarship Fund:
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During the year we spent £11,416 (2023: £9,027) on funding scholarships to 12 children in India, delivered in partnership with Vidya Dhan’s Strong Girls Strong World initiative. We also established a new partnership with Certa Foundation in Rwanda to support three teenage mothers in returning to school.
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c. Education Support: £10,617
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The Charity partnered with the Don Bosco Mithra School, to equip the science laboratory with equipment needed to enable students conduct science experiments alongside their teachers. Equipment purchased include 40 lab coats, 40 goggles, 200 test tubes, 100 gloves, 12 Bunsen burners and 1 microscope. Laboratory sessions are conducted for students in Grades 6 to 10 and each class has 35 – 40 students. These materials will serve approximately 200 students and should last up to the end of the next academic year.
Pictures of the materials are included below.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Charity also partnered with the Vidya Dhan charity to equip the computer lab of another school in rural India that is part of the Don Bosco network of schools in Southeast Asia called DB Vidya Kshethra School. The school is situated in a very remote area where 70% of the families live below the poverty line and the literacy rate is only 65%. The Charity sponsored the purchase of 15 desktop computers, 1 laptop and 1 printer for the laboratory.
Below are pictures of the fully furnished laboratory.
In February 2024, the Charity honoured an invitation from the trustees of Vidya Dhan to visit the schools and children benefiting from the scholarships it provides. Highlights of the visit to Bengaluru, India included a party organised for the children, home visits to the families of the sponsored children and a visit to the school the children attend.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
2. Digital Op-ed blog:
This year the Charity invested in rebranding its website and For The Sake of Heaven, its op-ed blog. The blog remains an effectual pull towards our take on scripture and articles written on For The Sake of Heaven are shared and passionately debated by our social media community.
3. Adun:
We continued to positively impact the lives of individuals and families. During the year we spent £10,594 (2023: £9,873) on the following:
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Homelessness prevention
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Liaised with Refugee and Migrant Forum of Essex and London and Ilford Central Seventh Day Adventist to support their weekly food bank with provisions
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• Cover the cost of cancer medicine
4. Social Media and Online Visibility :
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a. Connected Communities: Membership of our vibrant and interactive social media community has been maintained at 11000 members.
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b. Engagement Statistics: We had a quiet last quarter on social media activities, resulting in 56% less social media reach compared with the previous fiscal year. The reduced social media visibility is due largely to a 54% less investment in social media marketing. However, due to the introduction of Facebook AI tools to the website, we saw the largest ever google analytics figures since the websites for the various ministries were merged. There were 90K active users in the year to 30th September 2024, a 68% increase over the previous period.
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c. For The Sake of Heaven: This year the Charity invested in rebranding its website, on which its op-ed blog is hosted. The blog remains an effectual pull towards our take on scripture and articles written are shared and passionately debated by our social media community. The analytics from some posts on the blog show significant engagement with some posts showing 5-figure views.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Financial review
The principal funding sources for the Charity remain donations and gifts from its members. The Charity had a 30% uplift in income and raised a total of £102,667 (2023: £78,887).
Total expenditure for the year is £68,847, an increase of more than 20% against the previous year (2023: £56,514).
Economic landscape
Despite the current economic climate, we remain in good financial health and have a substantial amount of funds in reserves to deliver the Charity’s activities. We’re mindful of inflation and the cost of living at unprecedented levels, however this has not impacted the Charity’s income, nor its liquidity. Nevertheless, rising costs have meant that expenditure incurred to deliver the Charity’s activities has continued to increase in all areas due to the ongoing uncertainty in the current economic climate.
Reserves Policy
The Trustees have examined the Charity's requirements for reserves considering the main risks to the organisation. It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 24 months’ expenditure. The Trustees believe that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. At the end of the period the Charity reported £239,434 in reserves.
Redeemed Camp has adequate resources to continue its operational existence for the foreseeable future. The Trustees believe that it is appropriate to continue to adopt the going concern basis in preparing the annual trustees report and financial statements.
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Investment Policy
The Charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds are guaranteed.
The trustees has assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The key risks identified in developing and delivering the Charity’s future plans are directly related to the ongoing cost of living crisis and uncertainty in the current economic climate. The Charity continues to review its delivery channels and develop new partnerships with frontline organisations to provide targeted assistance where it will have the greatest impact.
Plans for future periods
Redeemed Camp intends to continue making a positive difference to society through its charitable work by reducing the strain of everyday life. We will offer a platform on which all are empowered to be the best version of themselves and positively impact their local communities. Delivering on this kind of commitment in the current economic climate requires very different ways of working for charities, adaptation of delivery models as well as the development of new partnerships and skills.
In the forthcoming year, we will continue to:
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Explore extending free access to the library to under-funded schools in developing countries. Discussions are underway on how to provide the Don Bosco network of schools bespoke access to the RC Library.
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Sponsor educational scholarships for children from poor homes in developing countries.
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Explore extending free access to the library to sponsored children.
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Explore more opportunities to maximise support to individuals most in need through Adun
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Further build our Connected Communities platform by active engagement and increasing content
Structure, governance and management
The Charity is a company limited by guarantee, incorporated on the 4th of September 2013 and registered as a charity on the 20th of July 2015.
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr B O Giwa
Mrs D O Giwa Miss O I Dele-Giwa Mrs L O Brown Mr M Magbagbeola
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
Trustee Selection
Under the requirements of the Memorandum and Articles of Association the Directors are elected to serve for a period of three years after which they may retire or may be re-elected for up to a further two terms, each of three years.
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as the Directors.
The trustees meet quarterly and are responsible for the strategic direction and policy of the Charity.
All Directors give their time voluntarily and received no benefits from the Charity.
Due to the nature of the Charity’s objectives much of the Charity’s work inevitably focuses upon the disadvantaged and minorities in society. The Directors seek to ensure that the needs of these people are appropriately reflected through the diversity of the trustee body. Also, the more traditional business skills required to operate a business are well represented on the Board of Directors.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Trustees Induction and Training
In the organisation, both new and old trustees are required and encouraged to attend a series of short training sessions to familiarise themselves with the Charity and the context within which it operates and cover:
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The Obligations of trustees
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The Main documents which set out the operational framework for the Charity including the Declaration of Trust
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Resourcing and the current financial position as set out in the latest available accounts
The trustees' report was approved by the Board of Trustees.
Mr B O Giwa chairman
28 January 2025
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDEEMED CAMP
I report to the trustees on my examination of the financial statements of Redeemed Camp (the Charity) for the year ended 30 September 2024.
Responsibilities and basis of report
As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Noel Aloko FCCA
abacus azure Chartered Certified Accountants 85-87 Bayham Street London NW1 0AG
Dated: 3 February 2025
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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 67,053 34,700 Investments 4 914 - Total income 67,967 34,700 Expenditure on: Charitable activities 5 46,837 22,010 Net income for the year/ Net movement in funds 21,130 12,690 Fund balances at 1 October 2023 133,536 72,078 Fund balances at 30 September 2024 154,666 84,768 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 101,753 46,271 32,130 914 486 - 102,667 46,757 32,130 68,847 37,614 18,900 33,820 9,143 13,230 205,614 124,393 58,848 239,434 133,536 72,078 |
Total 2023 £ 78,401 486 |
|---|---|---|
| 78,887 | ||
| 56,514 | ||
| 22,373 183,241 |
||
| 205,614 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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BALANCE SHEET
AS AT 30 SEPTEMBER 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Restricted funds Unrestricted funds |
2024 £ 6,575 233,219 239,794 (360) |
£ 239,434 84,768 154,666 239,434 |
2023 £ 4,363 201,611 205,974 (360) |
£ 205,614 |
|---|---|---|---|---|
| 72,078 133,536 |
||||
| 205,614 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.
The trustees acknowledge their responsibilities for ensuring that the Charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 28 January 2025
Mr B O Giwa
Trustee
Company registration number 08677110
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
Charity information
Redeemed Camp is a private company limited by guarantee incorporated in England and Wales. The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's Memorandum & Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to 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 depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Accounting policies
(Continued)
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 53,402 - Adun - 14,795 Education - 12,965 Other donations 13,351 6,940 Donated services 300 - 67,053 34,700 For the year ended 30 September 2023 46,271 32,130 |
Total 2024 £ 53,402 14,795 12,965 20,291 300 101,753 |
Total 2023 £ 36,737 13,109 12,595 15,660 300 |
|---|---|---|
| 78,401 | ||
| 78,401 |
4 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 914 | 486 |
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
5 Charitable activities
| Connected communities Adun Library Scholarship Education support Places of worship Share of support costs (see note 6) Share of governance costs (see note 6) Analysis by fund Unrestricted funds Restricted funds For the year ended 30 September 2023 Unrestricted funds Restricted funds |
2024 £ 9,475 10,594 15,657 11,416 10,617 8,000 65,759 2,359 729 68,847 46,837 22,010 68,847 37,614 18,900 56,514 |
2023 £ 6,092 9,873 28,045 9,027 - - |
|---|---|---|
| 53,037 2,769 708 |
||
| 56,514 | ||
| 37,614 18,900 |
||
| 56,514 | ||
6 Support costs
| Support costs Governance costs £ £ Administration 2,359 - Independent examiner's fees - 660 Legal and professional - 69 2,359 729 Analysed between Charitable activities 2,359 729 |
2024 £ 2,359 660 69 3,088 3,088 |
2023 £ 2,769 660 48 |
|---|---|---|
| 3,477 | ||
| 3,477 |
Governance costs includes payments to the independent examiner of £660 (2023- £660) for examination fees.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
8 Employees
The average monthly number of employees during the year was:
| Total There were no employees whose annual remuneration was more than £60,000. 9 Debtors Amounts falling due within one year: Other debtors 10 Creditors: amounts falling due within one year Accruals and deferred income 11 Analysis of net assets between funds Unrestricted funds Restricted funds Total Unrestricted funds 2024 2024 2024 2023 £ £ £ £ Fund balances at 30 September 2024 are represented by: Current assets/(liabilities) 154,666 84,768 239,434 133,536 154,666 84,768 239,434 133,536 |
Total There were no employees whose annual remuneration was more than £60,000. 9 Debtors Amounts falling due within one year: Other debtors 10 Creditors: amounts falling due within one year Accruals and deferred income 11 Analysis of net assets between funds Unrestricted funds Restricted funds Total Unrestricted funds 2024 2024 2024 2023 £ £ £ £ Fund balances at 30 September 2024 are represented by: Current assets/(liabilities) 154,666 84,768 239,434 133,536 154,666 84,768 239,434 133,536 |
2024 Number - 2024 £ 6,575 2024 £ 360 Restricted funds 2023 £ 72,078 72,078 |
2023 Number - |
|---|---|---|---|
| 2023 £ 4,363 |
|||
| 2023 £ 360 |
|||
| Total 2023 £ 205,614 |
|||
| 2023 £ 133,536 133,536 |
|||
| 205,614 |
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Docusign Envelope ID: 77FDAF6E-0A07-4A4D-B1AB-2ABA288E2B96
REDEEMED CAMP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024
12 Related party transactions
Transactions with related parties
During the year the Charity entered into the following transactions with related parties:
The Charity has one trustee / director in common with Save The King Limited. Redeemed Camp made a general contribution to its annual convocation.
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