Charity Registration No. 1170709
## **HEALING VENEZUELA**
**Annual report and financial statements For the year ended 31 December 2021**
**HEALING VENEZUELA**
## **CONTENTS PAGE**
|**Trustees' report**|**2 to 6**|
|---|---|
|**Consolidated Statement of fnancial activities**|**7**|
|**Consolidated balance sheet**|**8**|
|**Charity balance sheet**|**9**|
|**Statement of cash fows**|**10**|
|**Notes to the fnancial statements**|**11 to 19**|
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **TRUSTEES**
Rupert Pennant-Rea (Chairman) Gabriela Mendoza Cinzia De Santis (CEO ) Dr. Alejandro Arenas Thamara Ixer John O’Driscoll Sofia Gross Yocelyn De Abreu
## **PRINCIPAL OFFICERS**
There are currently no staff employed by the charity. The activities and business of the charity are coordinated by the Trustees and volunteers.
## **BANKERS**
CAF Bank Limited 25 Kings Hill Avenue West Malling Kent, ME19 4JQ
## **INDEPENDENT EXAMINER**
Pollyanna Services 94 Pump Street Orford Suffolk IP12 2LZ
## **REGISTERED OFFICE**
Bramah House 9 Gatliff Road London SW1W 8DQ
_2_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **OVERVIEW OF THE CHARITY**
Healing Venezuela (the Charity) is a volunteer-run organization with a Chairman and seven Trustees. No staff are employed to run the charity. Healing Venezuela also has over 30 volunteers. They perform a variety of functions participating in events, organising fundraisers and collecting medical supplies. We have an insurance policy in place to cover volunteers and participants during our activities.
In the UK, Healing Venezuela has a network of private and state health-related organisations such as GPs, surgeries, dental practices and hospitals that donate unused and disposable medical supplies.
We collaborate where appropriate with other charities and local NGOS.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Healing Venezuela (registered number: 1170709) was incorporated in England on 12 December 2016 and does not have any other names. The registered office of the Charity and the names of the trustees who served during the period and who were trustees at the date of approval of the financial statements, are disclosed on page 2.
The Charity is constituted as a Charitable Incorporated Organisation.
New Trustees are appointed by other Trustees, depending on the needs of the Charity and the qualifications and experience of the potential Trustee.
During 2021, the Charity -already registered in France- began the process of registering in Spain (primarily for fund-raising purposes). All governance will continue to be undertaken by the UK-based Board of Trustees.
## **OBJECTIVES AND ACTIVITIES**
As stated in its governing document, Healing Venezuela’s object is: “ _to relieve sickness and to preserve the health of the patients of hospitals and other health-related institutions in Venezuela by:_
_a. providing or assisting in the provision of health-related supplies; and b. providing support in the improvement of mental health and enabling the exchange of medical expertise and advice to Venezuelan doctors and hospitals”_
In 2021, Healing Venezuela delivered on its objectives with the following activities:
## **A. EXISTING PROJECTS**
During 2021, the Charity continued, and consolidated, the following projects:
- Donating more than 700 kgs of medical supplies purchased in Venezuela. This work also includes the logistical and transport arrangements for distributing these supplies to various centres within Venezuela. We provided COVID-19 Personal Protective Equipment (PPE) to all the centres we work with and to the Junior Doctors sponsored by us.
-We continued supporting pregnancy planning and awareness programme, donating the funds for a campaign in low-income areas to our local partner, ALAPLAF.
_3_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **OBJECTIVES AND ACTIVITIES (continued)**
## **A. EXISTING PROJECTS (continued)**
- Sponsoring 125-130 Junior Doctors in 8 state hospitals in Venezuela. To prevent the exodus of medical students from Venezuelan universities, we continue to give a small monthly grant to 130 junior doctors with the commitment that they will stay in the country for two years.
- Feeding 103 children and 154 families at risk of malnutrition in low income areas.
- We repaired and donated four critical medical equipment to state hospitals
- We maintained water treatment plants installed in three hospitals
## **B. NEW PROJECTS**
During 2021, no new projects were undertaken.
## **ASSURANCE**
The most significant risk is to ensure our supplies get to their destination and are used properly. We have established a network of health centres across different states in Venezuela working with doctors we trust who distribute the supplies to those who need them most. We also have four doctors on the ground who help us monitor the programmes.
We choose institutions with a proven track record to work with. A Co-operation Agreement is signed by the parties by which institutions are obliged to report on their progress and give assurance the donations are used in the way stated in the request for funds submission. We also require pictures and acknowledgement of receipt of supplies.
Volunteers are an essential part of the organization and at Healing Venezuela we consider them our most valuable asset. They support us organising events, collecting supplies and running projects. We have guidelines that we share with those who wish to volunteer and provide assistance to those who want to stage events to raise funds for us.
## **ACHIEVEMENTS AND PERFORMANCE**
Considering the pandemic, Healing Venezuela has had another successful year though the funds raised were slightly less than the year before, as opportunities to run fundraising events continued to be severely curtailed.
We received six grants (2020: three) during this financial year. Out of the six, two are restricted grants for a total value of £4,000 (2020: £36,500) and the other four are unrestricted for a total value of £13,407 (2020: nil).
_4_
**HEALING VENEZUELA**
**TRUSTEES’ REPORT for the year ended 31 December 2021**
## **PUBLIC BENEFIT**
The Trustees have considered the public benefit guidance issued by the Charity Commission. It is noted that a charitable organisation must be able to demonstrate that its aims are for the public benefit and that there must be compliance with two principles.
The first principle is that there must be an identifiable benefit or benefits.
The second principle requires that the benefit must be to the public or a section of the public.
The Trustees are satisfied that the Charity complies with both principles.
This report already contains a summary of the objects of this charity, a summary of its main activities and a record of its achievements in relation to its objects.
The Trustees are aware that via section 17 of the Charities Act 2011 there is an obligation to require Trustees to report on the Charity’s public benefit. The above section is intended to meet that requirement. The Trustees are aware that when planning the Charity’s activities they must have regard to the Commission’s guidance on public benefit. They confirm that they have had such regard.
## **FINANCIAL REVIEW**
In 2021, Healing Venezuela raised £155,842 (2020: £162,734) through events, private donations, grants and corporate donations.
Figures below show funds raised per category:
- Sports and social events, including sale of merchandise: £23,467 (2020: £5,292)
- Corporate donations: £17,484 (2020: £672)
- Individual donors: £97,042 (2020: £109,192)
- Donations of supplies, equipment and services: £442 (2020: £11,078)
- Grants: £17,407 (2020: £36,500)
Healing Venezuela has total funds of £237,364 (2020: £222,233).
The policy for holding reserves is stated in note 1 of the financial statements.
No funds are materially in deficit. Healing Venezuela did not borrow funds to finance its operations.
As stated in the Charity Commission Guidelines Chapter 4: Holding, moving and receiving - “ funds safely in the UK and internationally summary _Trustees must ensure that they exercise full supervisory control over their charity’s bank accounts. In practices this means the trustees of smaller charities will need to do it personally_ ”, our trustees had full visibility of the charity’s money movements. On a monthly basis, our accounts are prepared by an independent accountant and thereafter they are reviewed by a volunteer chartered accountant and a trustee with extensive financial experience.
_5_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
Healing Venezuela is run entirely by volunteers. Services such as courier, accounting, monitoring and auditing are paid to contractors to ensure the transparency and feasibility of our operations.
_6_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the 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 detection of fraud and other irregularities.
The Trustees' report on pages 2 to 6 was approved by the Trustees on 02 May 2022 and signed on their behalf by:
**Cinzia De Santis** CEO & Founder
Registered Charity No. 1170709
_7_
**HEALING VENEZUELA**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) For the year ended 31 December 2021**
|**Note**
**Unrestricted**
**Funds**
**£**
INCOME FROM:
Donations and legacies
General grants
Charitable activities
Other
3
4
5
114,968
13,407
23,467
7
**TOTAL INCOME**
151,849
EXPENDITURE ON:
Charitable activities
Raising funds
Other
6
7
8
(80,160)
(19,456)
(4,896)
**TOTAL EXPENDITURE**
(104,512)
**NET MOVEMENT IN FUNDS**
47,337
**RECONCILIATION OF FUNDS**
Total funds brought forward
Total funds carried forward
193,648
240,985|**Restricted**
**Funds**
**£**
-
4,000
-
-
4,000
(34,000)
(2,271)
-
(36,271)
(32,271)
28,584
(3,687)|**Total funds**
**2021**
**£**
114,968
17,407
23,467
7
155,849
(114,160)
(21,727)
(4,896)
(140,783)
15,067
222,233
237,299|**Total**
**funds**
**2020**
**£**
120,942
36,500
5,292
72
162,806
(115,999)
(4,354)
(4,401)
(124,754)
38,052
184,181
222,233|
|---|---|---|---|
There were no other recognised gains or losses other than those listed above. All income and expenditure derive from continuing activities.
_8_
**HEALING VENEZUELA**
## **CONSOLIDATED BALANCE SHEET At 31 December 2021**
|**Note**
**CURRENT ASSETS**
Debtors – amounts falling due within one year
9
Cash at bank and in hand
10
**CURRENT LIABILITIES**
Creditors – amounts falling due within one year
11
**NET ASSETS**
**CONSOLIDATED FUNDS**
Unrestricted funds:
General fund
12
Reserve fund (designated)
12
Restricted funds
12
**TOTAL CONSOLIDATED FUNDS**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
19,136
229,971
75
224,186
(11,807)
237,300
(2,028)
222,233
197,626
35,000
4,673
150,265
35,000
36,968
237,300
222,233|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
19,136
229,971
75
224,186
(11,807)
237,300
(2,028)
222,233
197,626
35,000
4,673
150,265
35,000
36,968
237,300
222,233|
|---|---|---|
|||(2,028)
222,233|
|||150,265
35,000
36,968|
|||222,233|
These financial statements were approved by the Board of Trustees and authorised for issue on 02 May 2022. They were signed on its behalf by:
## **Cinzia De Santis**
CEO & Founder
Registered Charity No. 1170709 tivities.
_9_
**HEALING VENEZUELA**
## **CHARITY BALANCE SHEET At 31 December 2021**
|**Note**
**CURRENT ASSETS**
Debtors – amounts falling due within one year
9
Cash at bank and in hand
10
**CURRENT LIABILITIES**
Creditors – amounts falling due within one year
11
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds:
General fund
12
Reserve fund (designated)
12
Restricted funds
12
**TOTAL CHARITY FUNDS**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
30,730
218,441
75
224,186
(11,807)
237,364
(2,028)
222,233
197,691
35,000
4,673
150,265
35,000
36,968
237,364
222,233|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
30,730
218,441
75
224,186
(11,807)
237,364
(2,028)
222,233
197,691
35,000
4,673
150,265
35,000
36,968
237,364
222,233|
|---|---|---|
|||(2,028)
222,233|
|||150,265
35,000
36,968|
|||222,233|
These financial statements were approved by the Board of Trustees and authorised for issue on 02 May 2022. They were signed on its behalf by:
**Cinzia De Santis** CEO & Founder
Registered Charity No. 1170709
_9_
**HEALING VENEZUELA**
## **CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2021**
|**Note**
Net movement in funds
Adjustments for:
Interest income
13
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash fows provided by operating activities**
Cash fows from investing activities:
Interest received
**Net cash fows provided by investing activities**
**Net cash fows provided by fnancing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at the beginning of the
period
**Cash and cash equivalents at the end of the period**|**31**
**December**
**2021**
**£**
15,067
(7)
(19,061)
9,779
5,778
7
7
-
5,785
224,186
229,971|**31**
**December**
**2020**
**£**|
|---|---|---|
|||38,052
(72)
1,034
(6,034)
32,980
72
72
-
33,052
191,134
224,186|
_10_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Company and charitable status**
Healing Venezuela, a registered charity, incorporated in England and Wales. The charity was founded on 12 December 2016 and its registered office address is given on page 2.
## **Basis of accounting**
The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2015)” 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 2015, and the Charities Act 2011.
The principal accounting policies are set out below, and have been consistently applied throughout the current period and prior year.
## **Functional and presentation currency**
The functional and presentation currency of the Charity is the sterling pound (£).
## **Going concern**
Having assessed the Charity’s financial position and its plans for the foreseeable future, the Trustees are satisfied that the going concern assumption is an appropriate basis on which to prepare these financial statements.
## **Income**
Income is recognised when donations are received or when the Charity has entitlement to the funds, any performance conditions attached to the items of income have been met and it is probable that the income will be received and the amount can be measured reliably.
Income arising from the Charity’s activities is recognised as performance obligations are satisfied.
Grant income is credited to the statement of financial activities evenly over the period to which they relate. Where grant income is received in advance of the activity it is shown as deferred grant income in creditors.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **Taxation**
The Company is a registered charity and has no liability to corporation tax on its charitable activities under the Corporation Tax Act 2010 (chapters 2 and 3 of part ii, section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes.
## **Fund accounting**
General funds (including designated funds) are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The Reserve fund represents a designated fund, and will be only accessed if there is a significant shortfall in cash.
_11_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
Restricted funds are those where the use of donations, gifts, grants or legacies received is restricted to purposes specified by the donor. Such purposes are within the overall aims of the organisation.
## **1. ACCOUNTING POLICIES (continued)**
## **Employees and volunteers**
There are no staff employed by the charity (2020: none). The activities and business of the charity are coordinated by the Trustees and unpaid volunteers.
## **Public benefit entity**
The Trust constitutes a public benefit entity as defined by FRS 102.
## **Financial instruments**
The Charity only has financial assets that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
## (i) Cash in bank and in hand
Cash and cash equivalents comprise cash in bank deposits. There are no amounts held within cash in bank and in hand that are unavailable for use.
## (ii) Debtors
Trade and other debtors are normally recognised at the settlement amount due after any trade discount offered.
## (iii) Creditors
Trade and other creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## 2. **CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY**
The Trustees do not consider that there are any critical judgements or key sources of estimation uncertainty requiring disclosure.
## 3. **DONATIONS AND LEGACIES**
|Donations from people (inc. gift aid)
Donations from companies
Donated medical supplies and equipment
Donated professional services
**Total**|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
97,042
17,484
-
442
109,192
672
10,826
252
114,968
120,942|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
97,042
17,484
-
442
109,192
672
10,826
252
114,968
120,942|
|---|---|---|
|||120,942|
_12_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **4. GENERAL GRANTS**
|Baker Hughes Foundation
GB Ultras Ltd
Mudano Accenture UK Ltd
Stockwell TT
LATA Foundation
GlaxoSmithKline plc
**Total**|**Unrestricte**
**d**
**Funds**
**£**
3,614
2,043
6,250
1,500
-
-
13,407|**Restricted**
**Funds**
**£**
-
-
-
-
4,000
-
4,000|**Year ended**
**31**
**December**
**2021**
**£**
**Year**
**ended**
**31**
**Decemb**
**er**
**2020**
**£**
-
-
4,000
-
-
-
-
-
-
6,500
30,000
17,407
36,500|
|---|---|---|---|
The charity received six grants from five parties during the year, two of which were subject to restrictions in how they are spent:
£4,000 was received from the LATA Foundation. £3,000 was for the supporting the education of junior doctors in Venezuela. £1,000 was to address the Coronavirus crisis in Venezuela.
The Charity is using these funds only for the restricted contractual purposes.
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|Sport events and dancing
Fund raisings
Music events
Buy Venezuelan Pop-up
Parties and events
Sale of merchandise
Others
**Total**|**Year ended**
**31**
**December**
**2021**
**£**
**Year ended**
**31**
**December**
**2020**
**£**
-
-
-
760
20,827
1,881
2,776
-
-
-
2,137
379
-
-
23,467
5,292|
|---|---|
_13_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **6. EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Unrestricted**
**funds**
**£**
Medical and food supplies for Venezuela
Transport costs to Venezuela
Projects and activities funded in
Venezuela
34,011
2,231
43,918
**Total**
80,160|**Restricted**
**funds**
**£**
-
-
34,000
34,000|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
34,011
2,231
77,918
86,700
8,188
21,111
114,160
115,999|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
34,011
2,231
77,918
86,700
8,188
21,111
114,160
115,999|
|---|---|---|---|
||||115,999|
## **7. EXPENDITURE ON RAISING FUNDS**
|Expenses from organising
activities
Education and awareness
Postage printing and stationery
Publicity and marketing
Buy Venezuelan project
Others
**Total**
**8. OTHER EXPENSES**|**Unrestricte**
**d**
**funds**
**£**
15,677
310
-
3,470
-
-
19,456|**Restricted**
**funds**
**£**
-
-
-
-
2,271
-
2,271|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
15,677
310
-
3,470
2,271
-
814
457
480
1,188
1,416
-
21,727
4,354|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
15,677
310
-
3,470
2,271
-
814
457
480
1,188
1,416
-
21,727
4,354|
|---|---|---|---|---|
|||||4,354|
||||||
|**HER EXPENSES**|||
|---|---|---|
|Foreign exchange charges
Accounting and legal services
Bank and other related charges
Others
**Total**|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
390
3,483
306
2,820
164
859
565
710
4,896
4,401||
|||4,401|
An amount of £150 (2020: £150) is included within Accounting and legal services for the independent examiner’s remuneration in respect of the review of the annual report and financial statements.
_14_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **9. DEBTORS – AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**Group**
Trade debtors
Other debtors
Prepayments
**Total**
**Charity**
Trade debtors
Other debtors
Prepayments
Amounts receivable from related
parties
**Total**
**10. CASH IN BANK AND IN HAND**
**Group**
Cash in bank
Cash in Paypal account
**Total**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
11,594
-
30,730
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
228,410
1,561
223,476
710
229,971
224,186|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
11,594
-
30,730
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
228,410
1,561
223,476
710
229,971
224,186|
|---|---|---|
|||224,186|
_15_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
||**31**|**31**|
|---|---|---|
|**Charity**|**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|Cash in bank|216,880|223,476|
|Cash in Paypal account|1,561|710|
|**Total**|218,441|224,186|
|**11. CREDITORS - AMOUNT FALLING DUE WITHIN ONE YEAR**|||
||**31**|**31**|
|**Ground and Charity**|**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|Trade creditors|17|1,631|
|Accruals|1,341|397|
|Other creditors|10,449||
|**Total**|11,807|**2,028**|
## **12. CHARITY FUNDS**
|**Group**
Balance at 01 January 2020
Net movements during the year
Transfers
Balance at 31 December 2020
Net movement during the year
Transfers
Balance at 31 December 2021||**Unrestricted**
**fund: General**
**fund**
**£**
140,797
9,467
-|**Unrestricted**
**fund: Reserve**
**fund**
**£**
35,000
-
-|**Restricted**
**funds**
**£**
8,384
28,584
-|**Total**
**£**
184,181
38,052
-|
|---|---|---|---|---|---|
|||150,265
47,337
-
197,602|35,000
-
-
35,000|36,968
(32,271)
-
4,698|222,233
15,067
-
237,300|
_16_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
|**Charity**
Balance at 01 January 2020
Net movements during the year
Transfers
Balance at 31 December 2020
Net movement during the year
Transfers
Balance at 31 December 2021||**Unrestricted**
**fund: General**
**fund**
**£**
140,797
9,467
-|**Unrestricted**
**fund: Reserve**
**fund**
**£**
35,000
-
-|**Restricted**
**funds**
**£**
8,384
28,584
-|**Total**
**£**
184,181
38,052
-|
|---|---|---|---|---|---|
|||150,265
47,402
-
197,667|35,000
-
-
35,000|36,968
(32,271)
-
4,698|222,233
15,131
-
237,364|
## **12. CHARITY FUNDS (continued)**
As of 31 December 2018, the Charity decided to designate a Reserve fund. The purpose of this fund is to act as a security cover to fund future operations. Whilst the Reserve fund represents an unrestricted fund, it will be only accessed if there is a significant shortfall in cash.
Restricted funds are those where the use of grants received is restricted to purposes specified by the donor. More information about the grants falling within the scope of this fund is in note 4.
A reconciliation of the restricted funds as of 31 December 2021 is provided below:
|A reconciliation of the restricted funds as of 31 December 2021 is provided below:|A reconciliation of the restricted funds as of 31 December 2021 is provided below:|
|---|---|
|**Opening**
**balance**
**Incoming**
**resources**
**Resource**
**s**
**expended**
**Closing**
**balance**||
|**£**
**£**
**£**
**£**||
|Reach Fund of Social Investment Business
LATA Foundation – Junior Doctors
LATA Foundation – COVID19
GlaxoSmithKline – Medical supplies
GlaxoSmithKline – Food programme
6,968
-
-
15,300
14,700
-
3,000
1,000
-
-
(2,271)
(3,000)
(1,000)
(15,300)
(14,700)
4,698
-
-
-
-||
|Total restricted funds|36,968
4,000
(36,271)
4,698|
_17_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
A reconciliation of the restricted funds as of 31 December 2020 is provided below:
|A reconciliation of the restricted funds as of 31 December 2020 is provided below:|A reconciliation of the restricted funds as of 31 December 2020 is provided below:|
|---|---|
|**Opening**
**balance**
**Incoming**
**resources**
**Resource**
**s**
**expended**
**Closing**
**balance**||
|**£**
**£**
**£**
**£**||
|Reach Fund of Social Investment Business
LATA Foundation – Pregnancy Prevention
LATA Foundation – COVID19
GlaxoSmithKline – Medical supplies
GlaxoSmithKline – Food programme
8,384
-
-
-
-
-
5,000
1,500
15,300
14,700
(1,416)
(5,000)
(1,500)
-
-
6,968
-
-
15,300
14,700||
|Total restricted funds|8,384
36,500
(7,916)
36,968|
## **13. FINANCIAL INSTRUMENTS**
|**NANCIAL INSTRUMENTS**|||
|---|---|---|
||**31**|**31**|
||**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|_Financial assets held at amortised_|||
|_cost:_|229,971|224,186|
|Cash in bank and in hand|17,915|75|
|Debtors|||
||-|-|
|_Non-fnancial assets_|||
|_Financial liabilities held at_|10,466|1,631|
|_amortised cost:_|||
|Creditors|-|-|
|_Non-fnancial liabilities_|||
The carrying value of all financial instruments approximates to its fair value.
_18_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
Interest income of £7 (2020: £72) has been earned from amounts held in a bank savings account; which is included within ‘other’ in the income section of the statement of financial activities.
## **14. SUBSIDIARY UNDERTAKINGS**
The branches below are separately registered charities that manage their own affairs with the support of local volunteers and the management of the Trustees of Healing Venezuela.
|**Branch**|**Charity**
**Number**|**Date of**
**incorporati**
**on**|**2021**
**Total**
**Income**||**2021**
**Total**
**Funds**|
|---|---|---|---|---|---|
|||||**£**|**£**|
|Healing Venezuela – France|W691102926|30/07/2020||-|(65)|
The registered office of the branch above is: 152 Impasse des Pommiers et Poiriers, 69380 Marcilly d’Azergues, France.
Healing Venezuela – France was not consolidated in the prior year statutory accounts as it did not have any material transactions.
## **15. RELATED PARTY TRANSACTIONS**
No Trustee received payment for professional or other services supplied to the Charity or received reimbursement of expenses from the Charity during the current period or prior year.
The Charity has taken advantage of the exemption afforded by FRS 102 not to disclose any related party transactions with other wholly owned members of the Group.
During 2021, the Group purchased foodstuffs through Inversiones MGM 1995 CA (“MGM”) for one of its malnutrition programmes. MGM is a company based in Curacao which in turns buys supplies from two Venezuelan based suppliers. MGM and one of the Venezuelan suppliers are related parties as they are (partly) owned by one of the Charity’s Trustees, Gabriela Mendoza. The decision to transact with MGM was taken by the Trustees due to its access to reliable suppliers and their competitive pricing, and to streamline the purchases of foodstuffs by dealing with a single supplier. MGM makes no profits from these transactions - the aim is to
_19_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
simplify the purchase of products in Venezuela. During 2021, the total paid to MGM for supplies received was £32,552.02 (2020: nil).
## **16. EVENTS AFTER THE REPORTING PERIOD**
There were no events between the end of the reporting period and before the date of signing of the financial statements.
_20_
Charity Registration No. 1170709
## **HEALING VENEZUELA**
**Annual report and financial statements For the year ended 31 December 2021**
**HEALING VENEZUELA**
## **CONTENTS PAGE**
|**Trustees' report**|**2 to 6**|
|---|---|
|**Consolidated Statement of fnancial activities**|**7**|
|**Consolidated balance sheet**|**8**|
|**Charity balance sheet**|**9**|
|**Statement of cash fows**|**10**|
|**Notes to the fnancial statements**|**11 to 19**|
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **TRUSTEES**
Rupert Pennant-Rea (Chairman) Gabriela Mendoza Cinzia De Santis (CEO ) Dr. Alejandro Arenas Thamara Ixer John O’Driscoll Sofia Gross Yocelyn De Abreu
## **PRINCIPAL OFFICERS**
There are currently no staff employed by the charity. The activities and business of the charity are coordinated by the Trustees and volunteers.
## **BANKERS**
CAF Bank Limited 25 Kings Hill Avenue West Malling Kent, ME19 4JQ
## **INDEPENDENT EXAMINER**
Pollyanna Services 94 Pump Street Orford Suffolk IP12 2LZ
## **REGISTERED OFFICE**
Bramah House 9 Gatliff Road London SW1W 8DQ
_2_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **OVERVIEW OF THE CHARITY**
Healing Venezuela (the Charity) is a volunteer-run organization with a Chairman and seven Trustees. No staff are employed to run the charity. Healing Venezuela also has over 30 volunteers. They perform a variety of functions participating in events, organising fundraisers and collecting medical supplies. We have an insurance policy in place to cover volunteers and participants during our activities.
In the UK, Healing Venezuela has a network of private and state health-related organisations such as GPs, surgeries, dental practices and hospitals that donate unused and disposable medical supplies.
We collaborate where appropriate with other charities and local NGOS.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Healing Venezuela (registered number: 1170709) was incorporated in England on 12 December 2016 and does not have any other names. The registered office of the Charity and the names of the trustees who served during the period and who were trustees at the date of approval of the financial statements, are disclosed on page 2.
The Charity is constituted as a Charitable Incorporated Organisation.
New Trustees are appointed by other Trustees, depending on the needs of the Charity and the qualifications and experience of the potential Trustee.
During 2021, the Charity -already registered in France- began the process of registering in Spain (primarily for fund-raising purposes). All governance will continue to be undertaken by the UK-based Board of Trustees.
## **OBJECTIVES AND ACTIVITIES**
As stated in its governing document, Healing Venezuela’s object is: “ _to relieve sickness and to preserve the health of the patients of hospitals and other health-related institutions in Venezuela by:_
_a. providing or assisting in the provision of health-related supplies; and b. providing support in the improvement of mental health and enabling the exchange of medical expertise and advice to Venezuelan doctors and hospitals”_
In 2021, Healing Venezuela delivered on its objectives with the following activities:
## **A. EXISTING PROJECTS**
During 2021, the Charity continued, and consolidated, the following projects:
- Donating more than 700 kgs of medical supplies purchased in Venezuela. This work also includes the logistical and transport arrangements for distributing these supplies to various centres within Venezuela. We provided COVID-19 Personal Protective Equipment (PPE) to all the centres we work with and to the Junior Doctors sponsored by us.
-We continued supporting pregnancy planning and awareness programme, donating the funds for a campaign in low-income areas to our local partner, ALAPLAF.
_3_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **OBJECTIVES AND ACTIVITIES (continued)**
## **A. EXISTING PROJECTS (continued)**
- Sponsoring 125-130 Junior Doctors in 8 state hospitals in Venezuela. To prevent the exodus of medical students from Venezuelan universities, we continue to give a small monthly grant to 130 junior doctors with the commitment that they will stay in the country for two years.
- Feeding 103 children and 154 families at risk of malnutrition in low income areas.
- We repaired and donated four critical medical equipment to state hospitals
- We maintained water treatment plants installed in three hospitals
## **B. NEW PROJECTS**
During 2021, no new projects were undertaken.
## **ASSURANCE**
The most significant risk is to ensure our supplies get to their destination and are used properly. We have established a network of health centres across different states in Venezuela working with doctors we trust who distribute the supplies to those who need them most. We also have four doctors on the ground who help us monitor the programmes.
We choose institutions with a proven track record to work with. A Co-operation Agreement is signed by the parties by which institutions are obliged to report on their progress and give assurance the donations are used in the way stated in the request for funds submission. We also require pictures and acknowledgement of receipt of supplies.
Volunteers are an essential part of the organization and at Healing Venezuela we consider them our most valuable asset. They support us organising events, collecting supplies and running projects. We have guidelines that we share with those who wish to volunteer and provide assistance to those who want to stage events to raise funds for us.
## **ACHIEVEMENTS AND PERFORMANCE**
Considering the pandemic, Healing Venezuela has had another successful year though the funds raised were slightly less than the year before, as opportunities to run fundraising events continued to be severely curtailed.
We received six grants (2020: three) during this financial year. Out of the six, two are restricted grants for a total value of £4,000 (2020: £36,500) and the other four are unrestricted for a total value of £13,407 (2020: nil).
_4_
**HEALING VENEZUELA**
**TRUSTEES’ REPORT for the year ended 31 December 2021**
## **PUBLIC BENEFIT**
The Trustees have considered the public benefit guidance issued by the Charity Commission. It is noted that a charitable organisation must be able to demonstrate that its aims are for the public benefit and that there must be compliance with two principles.
The first principle is that there must be an identifiable benefit or benefits.
The second principle requires that the benefit must be to the public or a section of the public.
The Trustees are satisfied that the Charity complies with both principles.
This report already contains a summary of the objects of this charity, a summary of its main activities and a record of its achievements in relation to its objects.
The Trustees are aware that via section 17 of the Charities Act 2011 there is an obligation to require Trustees to report on the Charity’s public benefit. The above section is intended to meet that requirement. The Trustees are aware that when planning the Charity’s activities they must have regard to the Commission’s guidance on public benefit. They confirm that they have had such regard.
## **FINANCIAL REVIEW**
In 2021, Healing Venezuela raised £155,842 (2020: £162,734) through events, private donations, grants and corporate donations.
Figures below show funds raised per category:
- Sports and social events, including sale of merchandise: £23,467 (2020: £5,292)
- Corporate donations: £17,484 (2020: £672)
- Individual donors: £97,042 (2020: £109,192)
- Donations of supplies, equipment and services: £442 (2020: £11,078)
- Grants: £17,407 (2020: £36,500)
Healing Venezuela has total funds of £237,364 (2020: £222,233).
The policy for holding reserves is stated in note 1 of the financial statements.
No funds are materially in deficit. Healing Venezuela did not borrow funds to finance its operations.
As stated in the Charity Commission Guidelines Chapter 4: Holding, moving and receiving - “ funds safely in the UK and internationally summary _Trustees must ensure that they exercise full supervisory control over their charity’s bank accounts. In practices this means the trustees of smaller charities will need to do it personally_ ”, our trustees had full visibility of the charity’s money movements. On a monthly basis, our accounts are prepared by an independent accountant and thereafter they are reviewed by a volunteer chartered accountant and a trustee with extensive financial experience.
_5_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
Healing Venezuela is run entirely by volunteers. Services such as courier, accounting, monitoring and auditing are paid to contractors to ensure the transparency and feasibility of our operations.
_6_
**HEALING VENEZUELA**
## **TRUSTEES’ REPORT for the year ended 31 December 2021**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the 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 detection of fraud and other irregularities.
The Trustees' report on pages 2 to 6 was approved by the Trustees on 02 May 2022 and signed on their behalf by:
**Cinzia De Santis** CEO & Founder
Registered Charity No. 1170709
_7_
**HEALING VENEZUELA**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) For the year ended 31 December 2021**
|**Note**
**Unrestricted**
**Funds**
**£**
INCOME FROM:
Donations and legacies
General grants
Charitable activities
Other
3
4
5
114,968
13,407
23,467
7
**TOTAL INCOME**
151,849
EXPENDITURE ON:
Charitable activities
Raising funds
Other
6
7
8
(80,160)
(19,456)
(4,896)
**TOTAL EXPENDITURE**
(104,512)
**NET MOVEMENT IN FUNDS**
47,337
**RECONCILIATION OF FUNDS**
Total funds brought forward
Total funds carried forward
193,648
240,985|**Restricted**
**Funds**
**£**
-
4,000
-
-
4,000
(34,000)
(2,271)
-
(36,271)
(32,271)
28,584
(3,687)|**Total funds**
**2021**
**£**
114,968
17,407
23,467
7
155,849
(114,160)
(21,727)
(4,896)
(140,783)
15,067
222,233
237,299|**Total**
**funds**
**2020**
**£**
120,942
36,500
5,292
72
162,806
(115,999)
(4,354)
(4,401)
(124,754)
38,052
184,181
222,233|
|---|---|---|---|
There were no other recognised gains or losses other than those listed above. All income and expenditure derive from continuing activities.
_8_
**HEALING VENEZUELA**
## **CONSOLIDATED BALANCE SHEET At 31 December 2021**
|**Note**
**CURRENT ASSETS**
Debtors – amounts falling due within one year
9
Cash at bank and in hand
10
**CURRENT LIABILITIES**
Creditors – amounts falling due within one year
11
**NET ASSETS**
**CONSOLIDATED FUNDS**
Unrestricted funds:
General fund
12
Reserve fund (designated)
12
Restricted funds
12
**TOTAL CONSOLIDATED FUNDS**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
19,136
229,971
75
224,186
(11,807)
237,300
(2,028)
222,233
197,626
35,000
4,673
150,265
35,000
36,968
237,300
222,233|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
19,136
229,971
75
224,186
(11,807)
237,300
(2,028)
222,233
197,626
35,000
4,673
150,265
35,000
36,968
237,300
222,233|
|---|---|---|
|||(2,028)
222,233|
|||150,265
35,000
36,968|
|||222,233|
These financial statements were approved by the Board of Trustees and authorised for issue on 02 May 2022. They were signed on its behalf by:
## **Cinzia De Santis**
CEO & Founder
Registered Charity No. 1170709 tivities.
_9_
**HEALING VENEZUELA**
## **CHARITY BALANCE SHEET At 31 December 2021**
|**Note**
**CURRENT ASSETS**
Debtors – amounts falling due within one year
9
Cash at bank and in hand
10
**CURRENT LIABILITIES**
Creditors – amounts falling due within one year
11
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds:
General fund
12
Reserve fund (designated)
12
Restricted funds
12
**TOTAL CHARITY FUNDS**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
30,730
218,441
75
224,186
(11,807)
237,364
(2,028)
222,233
197,691
35,000
4,673
150,265
35,000
36,968
237,364
222,233|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
30,730
218,441
75
224,186
(11,807)
237,364
(2,028)
222,233
197,691
35,000
4,673
150,265
35,000
36,968
237,364
222,233|
|---|---|---|
|||(2,028)
222,233|
|||150,265
35,000
36,968|
|||222,233|
These financial statements were approved by the Board of Trustees and authorised for issue on 02 May 2022. They were signed on its behalf by:
**Cinzia De Santis** CEO & Founder
Registered Charity No. 1170709
_9_
**HEALING VENEZUELA**
## **CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2021**
|**Note**
Net movement in funds
Adjustments for:
Interest income
13
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash fows provided by operating activities**
Cash fows from investing activities:
Interest received
**Net cash fows provided by investing activities**
**Net cash fows provided by fnancing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at the beginning of the
period
**Cash and cash equivalents at the end of the period**|**31**
**December**
**2021**
**£**
15,067
(7)
(19,061)
9,779
5,778
7
7
-
5,785
224,186
229,971|**31**
**December**
**2020**
**£**|
|---|---|---|
|||38,052
(72)
1,034
(6,034)
32,980
72
72
-
33,052
191,134
224,186|
_10_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **1. ACCOUNTING POLICIES**
## **Company and charitable status**
Healing Venezuela, a registered charity, incorporated in England and Wales. The charity was founded on 12 December 2016 and its registered office address is given on page 2.
## **Basis of accounting**
The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2015)” 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 2015, and the Charities Act 2011.
The principal accounting policies are set out below, and have been consistently applied throughout the current period and prior year.
## **Functional and presentation currency**
The functional and presentation currency of the Charity is the sterling pound (£).
## **Going concern**
Having assessed the Charity’s financial position and its plans for the foreseeable future, the Trustees are satisfied that the going concern assumption is an appropriate basis on which to prepare these financial statements.
## **Income**
Income is recognised when donations are received or when the Charity has entitlement to the funds, any performance conditions attached to the items of income have been met and it is probable that the income will be received and the amount can be measured reliably.
Income arising from the Charity’s activities is recognised as performance obligations are satisfied.
Grant income is credited to the statement of financial activities evenly over the period to which they relate. Where grant income is received in advance of the activity it is shown as deferred grant income in creditors.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **Taxation**
The Company is a registered charity and has no liability to corporation tax on its charitable activities under the Corporation Tax Act 2010 (chapters 2 and 3 of part ii, section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes.
## **Fund accounting**
General funds (including designated funds) are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The Reserve fund represents a designated fund, and will be only accessed if there is a significant shortfall in cash.
_11_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
Restricted funds are those where the use of donations, gifts, grants or legacies received is restricted to purposes specified by the donor. Such purposes are within the overall aims of the organisation.
## **1. ACCOUNTING POLICIES (continued)**
## **Employees and volunteers**
There are no staff employed by the charity (2020: none). The activities and business of the charity are coordinated by the Trustees and unpaid volunteers.
## **Public benefit entity**
The Trust constitutes a public benefit entity as defined by FRS 102.
## **Financial instruments**
The Charity only has financial assets that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
## (i) Cash in bank and in hand
Cash and cash equivalents comprise cash in bank deposits. There are no amounts held within cash in bank and in hand that are unavailable for use.
## (ii) Debtors
Trade and other debtors are normally recognised at the settlement amount due after any trade discount offered.
## (iii) Creditors
Trade and other creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## 2. **CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY**
The Trustees do not consider that there are any critical judgements or key sources of estimation uncertainty requiring disclosure.
## 3. **DONATIONS AND LEGACIES**
|Donations from people (inc. gift aid)
Donations from companies
Donated medical supplies and equipment
Donated professional services
**Total**|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
97,042
17,484
-
442
109,192
672
10,826
252
114,968
120,942|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
97,042
17,484
-
442
109,192
672
10,826
252
114,968
120,942|
|---|---|---|
|||120,942|
_12_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **4. GENERAL GRANTS**
|Baker Hughes Foundation
GB Ultras Ltd
Mudano Accenture UK Ltd
Stockwell TT
LATA Foundation
GlaxoSmithKline plc
**Total**|**Unrestricte**
**d**
**Funds**
**£**
3,614
2,043
6,250
1,500
-
-
13,407|**Restricted**
**Funds**
**£**
-
-
-
-
4,000
-
4,000|**Year ended**
**31**
**December**
**2021**
**£**
**Year**
**ended**
**31**
**Decemb**
**er**
**2020**
**£**
-
-
4,000
-
-
-
-
-
-
6,500
30,000
17,407
36,500|
|---|---|---|---|
The charity received six grants from five parties during the year, two of which were subject to restrictions in how they are spent:
£4,000 was received from the LATA Foundation. £3,000 was for the supporting the education of junior doctors in Venezuela. £1,000 was to address the Coronavirus crisis in Venezuela.
The Charity is using these funds only for the restricted contractual purposes.
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|Sport events and dancing
Fund raisings
Music events
Buy Venezuelan Pop-up
Parties and events
Sale of merchandise
Others
**Total**|**Year ended**
**31**
**December**
**2021**
**£**
**Year ended**
**31**
**December**
**2020**
**£**
-
-
-
760
20,827
1,881
2,776
-
-
-
2,137
379
-
-
23,467
5,292|
|---|---|
_13_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **6. EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Unrestricted**
**funds**
**£**
Medical and food supplies for Venezuela
Transport costs to Venezuela
Projects and activities funded in
Venezuela
34,011
2,231
43,918
**Total**
80,160|**Restricted**
**funds**
**£**
-
-
34,000
34,000|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
34,011
2,231
77,918
86,700
8,188
21,111
114,160
115,999|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
34,011
2,231
77,918
86,700
8,188
21,111
114,160
115,999|
|---|---|---|---|
||||115,999|
## **7. EXPENDITURE ON RAISING FUNDS**
|Expenses from organising
activities
Education and awareness
Postage printing and stationery
Publicity and marketing
Buy Venezuelan project
Others
**Total**
**8. OTHER EXPENSES**|**Unrestricte**
**d**
**funds**
**£**
15,677
310
-
3,470
-
-
19,456|**Restricted**
**funds**
**£**
-
-
-
-
2,271
-
2,271|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
15,677
310
-
3,470
2,271
-
814
457
480
1,188
1,416
-
21,727
4,354|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
15,677
310
-
3,470
2,271
-
814
457
480
1,188
1,416
-
21,727
4,354|
|---|---|---|---|---|
|||||4,354|
||||||
|**HER EXPENSES**|||
|---|---|---|
|Foreign exchange charges
Accounting and legal services
Bank and other related charges
Others
**Total**|**Year ended**
**31**
**December**
**2021**
£
**Year ended**
**31**
**December**
**2020**
£
390
3,483
306
2,820
164
859
565
710
4,896
4,401||
|||4,401|
An amount of £150 (2020: £150) is included within Accounting and legal services for the independent examiner’s remuneration in respect of the review of the annual report and financial statements.
_14_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
## **9. DEBTORS – AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**Group**
Trade debtors
Other debtors
Prepayments
**Total**
**Charity**
Trade debtors
Other debtors
Prepayments
Amounts receivable from related
parties
**Total**
**10. CASH IN BANK AND IN HAND**
**Group**
Cash in bank
Cash in Paypal account
**Total**|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
11,594
-
30,730
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
228,410
1,561
223,476
710
229,971
224,186|**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
17,261
654
1,220
-
75
-
19,136
**75**
11,594
-
30,730
**75**
**31**
**December**
**2021**
**£**
**31**
**December**
**2020**
**£**
228,410
1,561
223,476
710
229,971
224,186|
|---|---|---|
|||224,186|
_15_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
||**31**|**31**|
|---|---|---|
|**Charity**|**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|Cash in bank|216,880|223,476|
|Cash in Paypal account|1,561|710|
|**Total**|218,441|224,186|
|**11. CREDITORS - AMOUNT FALLING DUE WITHIN ONE YEAR**|||
||**31**|**31**|
|**Ground and Charity**|**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|Trade creditors|17|1,631|
|Accruals|1,341|397|
|Other creditors|10,449||
|**Total**|11,807|**2,028**|
## **12. CHARITY FUNDS**
|**Group**
Balance at 01 January 2020
Net movements during the year
Transfers
Balance at 31 December 2020
Net movement during the year
Transfers
Balance at 31 December 2021||**Unrestricted**
**fund: General**
**fund**
**£**
140,797
9,467
-|**Unrestricted**
**fund: Reserve**
**fund**
**£**
35,000
-
-|**Restricted**
**funds**
**£**
8,384
28,584
-|**Total**
**£**
184,181
38,052
-|
|---|---|---|---|---|---|
|||150,265
47,337
-
197,602|35,000
-
-
35,000|36,968
(32,271)
-
4,698|222,233
15,067
-
237,300|
_16_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
|**Charity**
Balance at 01 January 2020
Net movements during the year
Transfers
Balance at 31 December 2020
Net movement during the year
Transfers
Balance at 31 December 2021||**Unrestricted**
**fund: General**
**fund**
**£**
140,797
9,467
-|**Unrestricted**
**fund: Reserve**
**fund**
**£**
35,000
-
-|**Restricted**
**funds**
**£**
8,384
28,584
-|**Total**
**£**
184,181
38,052
-|
|---|---|---|---|---|---|
|||150,265
47,402
-
197,667|35,000
-
-
35,000|36,968
(32,271)
-
4,698|222,233
15,131
-
237,364|
## **12. CHARITY FUNDS (continued)**
As of 31 December 2018, the Charity decided to designate a Reserve fund. The purpose of this fund is to act as a security cover to fund future operations. Whilst the Reserve fund represents an unrestricted fund, it will be only accessed if there is a significant shortfall in cash.
Restricted funds are those where the use of grants received is restricted to purposes specified by the donor. More information about the grants falling within the scope of this fund is in note 4.
A reconciliation of the restricted funds as of 31 December 2021 is provided below:
|A reconciliation of the restricted funds as of 31 December 2021 is provided below:|A reconciliation of the restricted funds as of 31 December 2021 is provided below:|
|---|---|
|**Opening**
**balance**
**Incoming**
**resources**
**Resource**
**s**
**expended**
**Closing**
**balance**||
|**£**
**£**
**£**
**£**||
|Reach Fund of Social Investment Business
LATA Foundation – Junior Doctors
LATA Foundation – COVID19
GlaxoSmithKline – Medical supplies
GlaxoSmithKline – Food programme
6,968
-
-
15,300
14,700
-
3,000
1,000
-
-
(2,271)
(3,000)
(1,000)
(15,300)
(14,700)
4,698
-
-
-
-||
|Total restricted funds|36,968
4,000
(36,271)
4,698|
_17_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
A reconciliation of the restricted funds as of 31 December 2020 is provided below:
|A reconciliation of the restricted funds as of 31 December 2020 is provided below:|A reconciliation of the restricted funds as of 31 December 2020 is provided below:|
|---|---|
|**Opening**
**balance**
**Incoming**
**resources**
**Resource**
**s**
**expended**
**Closing**
**balance**||
|**£**
**£**
**£**
**£**||
|Reach Fund of Social Investment Business
LATA Foundation – Pregnancy Prevention
LATA Foundation – COVID19
GlaxoSmithKline – Medical supplies
GlaxoSmithKline – Food programme
8,384
-
-
-
-
-
5,000
1,500
15,300
14,700
(1,416)
(5,000)
(1,500)
-
-
6,968
-
-
15,300
14,700||
|Total restricted funds|8,384
36,500
(7,916)
36,968|
## **13. FINANCIAL INSTRUMENTS**
|**NANCIAL INSTRUMENTS**|||
|---|---|---|
||**31**|**31**|
||**December**|**December**|
||**2021**|**2020**|
||**£**|**£**|
|_Financial assets held at amortised_|||
|_cost:_|229,971|224,186|
|Cash in bank and in hand|17,915|75|
|Debtors|||
||-|-|
|_Non-fnancial assets_|||
|_Financial liabilities held at_|10,466|1,631|
|_amortised cost:_|||
|Creditors|-|-|
|_Non-fnancial liabilities_|||
The carrying value of all financial instruments approximates to its fair value.
_18_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
Interest income of £7 (2020: £72) has been earned from amounts held in a bank savings account; which is included within ‘other’ in the income section of the statement of financial activities.
## **14. SUBSIDIARY UNDERTAKINGS**
The branches below are separately registered charities that manage their own affairs with the support of local volunteers and the management of the Trustees of Healing Venezuela.
|**Branch**|**Charity**
**Number**|**Date of**
**incorporati**
**on**|**2021**
**Total**
**Income**||**2021**
**Total**
**Funds**|
|---|---|---|---|---|---|
|||||**£**|**£**|
|Healing Venezuela – France|W691102926|30/07/2020||-|(65)|
The registered office of the branch above is: 152 Impasse des Pommiers et Poiriers, 69380 Marcilly d’Azergues, France.
Healing Venezuela – France was not consolidated in the prior year statutory accounts as it did not have any material transactions.
## **15. RELATED PARTY TRANSACTIONS**
No Trustee received payment for professional or other services supplied to the Charity or received reimbursement of expenses from the Charity during the current period or prior year.
The Charity has taken advantage of the exemption afforded by FRS 102 not to disclose any related party transactions with other wholly owned members of the Group.
During 2021, the Group purchased foodstuffs through Inversiones MGM 1995 CA (“MGM”) for one of its malnutrition programmes. MGM is a company based in Curacao which in turns buys supplies from two Venezuelan based suppliers. MGM and one of the Venezuelan suppliers are related parties as they are (partly) owned by one of the Charity’s Trustees, Gabriela Mendoza. The decision to transact with MGM was taken by the Trustees due to its access to reliable suppliers and their competitive pricing, and to streamline the purchases of foodstuffs by dealing with a single supplier. MGM makes no profits from these transactions - the aim is to
_19_
**HEALING VENEZUELA**
## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021**
simplify the purchase of products in Venezuela. During 2021, the total paid to MGM for supplies received was £32,552.02 (2020: nil).
## **16. EVENTS AFTER THE REPORTING PERIOD**
There were no events between the end of the reporting period and before the date of signing of the financial statements.
_20_
Pollyanna Services Member of the Institute of Certified Bookkeepers
## **Healing Venezuela Charity Number : 1170709**
I report to the trustees on my examination of the accounts for the year ended 31st December 2021.
## **Responsibilities and basis of report**
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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:
1. accounting records were not kept as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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.
Signed:
Name: Pauline Caswell MICB The Studio, William House Quay Street Orford Woodbridge Suffolk IP12 2NU