REGISTERED CHARITY NUMBER: 1180060 ort ofthe Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Goodnews Aid
Goodnews Aid Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report ofthe Trustees Independent Examinels Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities
Goodnews Aid ort of the Trustees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities." Slalement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity as set out in its governing document are the advanment of the Christian faith and the relief of persons in need. Public benefit The board of trustees is satisfied with the performan of the charity during the year and in planning the aGlivities the trustees have had regard to the Charity Commission's guidan on public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities The charity partners with a charity in India named Global Socio Educational and Charitable Trust IGSECTI, a registered charity in India Iwww.gsect.com). GSECT is involved in various developmental and educational activities in India. During the year, the charity was able to donate £46,000 to GSECT to further its charitable work in India. FINANCIAL REVIEW Financial position The charily is reliant on the generous giving of individuals and organisations in the UK. The charity currently does not have any fixed overheads and therefore the trustees, are satisfied with minimal reseNes held. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is governed by ils constitution adopted on 24 September 2018 and constitutes a Charitable Incorporated Organisation (CIO) as defined by the Charities Act 2011. Recruibnent and appointment of new trustees New trustees are appointed by a resolution at a meeting of the trustees with regard to the skills, knowledge and experience needed for the charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1180060 Page 1
Goodnews Aid ort of the Trustees for the Year Ended 31 March 2024 Registered address Life Church 1A Old Chester Road Bebington Wirral CH63 7LA Trustees Rev E Aryee Rev J Master Dr G Danam Rev A Partinglon Pr B Kuniukutty Independent Examiner Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Approved by order of the board of trustees on behalf by.. 26111124 and signed on its Dr G Danam- Trustee Page 2
Inde endent Examiner's Re Goodnews Aid ort to the Trustees of Independent examinerfs report to the trustees of Goodnews Aid ('the Clo'} I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 March 2024. Responsibilities and basis of report As Ihe charity's trustees of the CIO you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of your charrty's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act'}. In carrying out my examinalion I have followed the Directions given by the Charity Commission under Section 145{5} (bl of the 2011 Act. Independent examinerfs 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.. accounting records were not kept in respect of the CIO as required by section 130 of the Act., or the accounts do not accord with those records., or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021). 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. Gracian Daniel-sam ACA Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Date.. 26111124 Page 3
Goodnews Aid Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 46,689 1,729 EXPENDITURE ON Charitable activities Mission 46,648 1,857 other 243 60 Total 46,891 1,917 NET INCOMEI{EXPENDITUREI 12021 {1881 RECONCILIATION OF FUNDS Total funds brought forward 631 819 TOTAL FUNDS CARRIED FORWARD 429 631 The notes form part of these financial statements Page 4
Goodnews Aid Balance Sheet 31 March 2024 31.3.24 Unrestricted fund 31.3.23 Total funds Notes CURRENT ASSETS Cash at bank 1,029 871 CREDITORS Amounts falling due within one year 16001 (2401 NET CURRENT ASSETS 429 631 TOTAL ASSETS LESS CURRENT LIABILITIES 429 631 NET ASSETS 429 631 FUNDS Unrestricted funds 429 631 TOTAL FUNDS 429 631 The financial statements were approved by the Board of Trustees and authorised for issue on 26111124 and were signed on its behalf by.. G Danam - Trustee The notes form part of these financial statements Page 5
Goodnews Aid Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of Ihe CIO, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities. Stalement of Recommended Practi applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 20191,. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities On the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been mel at the year end dale are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 continued...
Goodnews Aid Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. INDEPENDENT EXAMINER'S REMUNERATION During the year £360 was payable lo the Independent Examiner for the preparation of the accounts in their final format and to carry out the independent examination. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Accruals and deferred income 600 240 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 631 (202) 429 TOTAL FUNDS 631 202) 429 Net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 46,689 (46,8911 (2021 TOTAL FUNDS 46,689 46,8911 Page 7 continued...
Goodnews Aid Notes to the Financial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 819 {1881 631 TOTAL FUNDS 819 631 Comparative net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 1,729 11,9171 {188) TOTAL FUNDS 1,729 1,9171 1881 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 8
Goodnews Aid Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations 46,689 1,729 Total incoming resources 46,689 1,729 EXPENDITURE Charitable activities Advertising Sundries Gifts to other charities 288 17 100 1,500 46,000 46,288 1,617 other Bank charges 243 60 Support costs Governance costs Accountancy and legal fees 360 240 Total resources expended Net expenditure 202} 188) This page does not form part of Ihe statutory financial statements Page 9