CHARITY REGISTRATION NUMBER: 1183021 Bright Future International Unaudited Financial Statements 31 August 2024
Bright Future International Financial Statements Year ended 31 August 2024 Page Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Bright Future International Independent Examinerfs Report to the Trustees of Bright Future Intarnational Year ended 31 August 2024 I report to the knjstees on my eminakn of the financial statements of Bright Future International (kne chattv) for the year ended 31 August 2024. Rpsponslbllities and basls of report As the tnjstees of the tharity you are responsible fur the preparation of the financial statements In accordance wilh the requirements of the Charrties Act 2011 (e Act'l. I report in respect of my examination of the chart5 financial statements carried out under section 145 of the 2011 Act and in carrying out my examinatk)n I have followed all the applicable Directions given by the Charity Commission under section 145{SXb) of the ACL Independent examine$ ststernent I have completed my examination. I COnfin that no material matters have come to my attention In connection with the examination gNing me cause to beIve ttt any malefial resp accounting records were not kept in respect of the tharity as required by section 130 of the Act; or the financial statements do rhjt accord wlth those records: or the financial statements do nol comply wilh the applicable requirements conceming the form and content of accounts set out in the Charibes (Accounts and Reports) Regijlations 2008 other than any requirement that the accounts give a 1nJe and fai¢ Mew which is not a matter considered as part of an indyrKlent examination. I have no concems and have come across no other mattets in connection with the examination lo whiL* attention should b8 drawn in this ret#)rt in order. to enablo a proper understanding of the accounts to be reached. ABAlph sus Alphonsus & Co Ltd 34 Davenham Avenue Northwood. Middl8sex HA6 3HQ 30 April 2025
Bright Future International Statement of Financial Actlvltiès .Year ended 31 August 2024 2024 2023 Unrestricted fvjnds Total funds Total fvnds Incorne and grkdowments Donations and legacies Other income Total Incomg 65,445 828 65.445 828 33,918 Expenditurg Expenditure on raising funds: Cost of other activrlies 2.849 3.338 Exp8nditure on ¢harilable activities Total expgndlture Nat Incomel{l¢>ssl Nel movement in fvnds 2,234 2.234 (165) Raconclllatlon of funds Total funds brought fopNard as preVlY reFx)rted Prior year adjustment 4,865- 4.865 5,030 Totsl funds brought forward as restated Total funds carried forward The statement of finanal actÉwhes indudes all gain and losses recognised in the year. All Incoine and expenditure derive from continuing aCtsvitS
Bright Future International Statement of Financial Position 31 August 2024 2024 2023 Current assets Debtors 12 5,282 4.554 Cash at bank and in haTh 311 Net Currgnl Assets 7,099 4,865 Current Liabllltles Creditors due less than 12 rnonths 13 Total assets less Current liabllllles Funds ofthe charity Unrestricted funds: her unrestrict1 ino)me fvnds Total unrestrictgd fvnds 7.099 4,865 Total charty funds 14 These finanryal statements were approved by the board oftrustees and authorised for issue on 30 April 2025, and are signed on behalf of the board by: Akila ATulthasan Lyjini Sujith Trustee Treasurer
Bright Future International Th• not•s ¢)n 995 510 11 forni part of financial statsmonis. Notes to the Flnancial Statements Year ended 31 August 2024 General Infomiation The charity Is a public benefft entrty arKJ a registered charfty in England and Wales and is inrporated. Th8 address of the prnrypal office i% 5 Calvertrm Ptar*, Greenford. Middlesex, UB6 7FP. ststement of Compllance These financial statements have been prepared in cLNnpllan with FRS 102, The Financial Reporting Standard applic2ble in the UK and thg Republ of Ireland.. the Statement of Recommended Practice applicable to charitses preparirvj their accounts in acxordance with the Financial Reporting Standard applicable in the UK and Republ of Ireland IFRS 102) (Charities SORP IFRS 102)} and the Charities Act 2011. Accountlng pollcles Incomo Voluntsry income armj donations are aixwnted for as received by the charity. The ineL)me from fundraising ventures is shown gross, wilh the asswiated costs induded in funllraising cy)st8. Basls of preparation The financaal statements have been prepared C the histori1 c05t basis, as modlfied by the revaluation of certain financial assets and liabli rtie5 and investrnent properties measured at fair value through income or expenditure. The financial statements are prepared in sterfing. which 15 the functional encY of the entity. Fundraislng costs Fundraising expendtiure comprises costs incuffed in indwng people and organisations to contribute ffnancially to the charivs work. This indud&% the cost of atfvertlslny. travelling and staging of special fvndraising events. Golng concern There are no material unCertatieS about the charrvs abli ity to wntinue. Fund accounllng Unreslricted frjnds are available foruse atthe dis(¥etion ofthetrustees to furtherany of the chartty's purposes. Designated funds are unrestricted funds earmarked by the tnjstees for particular fvtur& project or commitment. Restricted funds are subjected to restrictions on their expenditure dedared by the donor or throu9h the lemis of an appeal. and fall into one of tsyo sub<lasses: restricted income funds or endowment nds.
Bright Future International Notes to the Financial SLements (cMtsnu•d) Year ended 31 August 2024 Accountlng policies (¢w Incomlng resources All incoming leUreS are induded in Ihe stateMt of financaal adivitses when entttlement has passed to the charity., tt is probable that the e(nOMiC beneffts assoclated wtth the transaction will flow to the chartty and the amunt can be reliabty measured. The foibwing spedfic policies are applied to particular categories of income: income from drmations or grants is recryJnised when there is evlden¢e ofentitlement to the grft, receipt is probable and its amount can be measured reliabty. legacy income rerA)gnised when re(Eipt is probable and entttlement is establi%hed. income from donated gwys is measured at Ihe fairvalue of the goods unless this is impractal to measure reliably, in whth case the value is derived from the cost to the donor or the estrmated resale value. Donated tsrylities and services are recognised in the accounts when received rf the value can be relwlly measured. No arnounts are included for the contribuknon of gene1 volunteers. income from cxjntracts for the Sup of service5 is TeccNJnlsed with the delivery of the contracted sgrvKe. This is dassth8d as unrestricted fijnds unless there is a contraclu81 requirement for r( to be spent on a parti(#Jlar purFose and retumed rf unenL in which case tt may be regarded as restricted. Resources expended Expenditure is recognised on an a(Lruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is dasstfied under headings of the statement of financlal activities to which it relates: expendilure on raislng furKls irKlud8s the of all fvndraislng acaivittes. events, non- charitsble tradlng acbvitses. and the sate of donated gcKyJs. expenditure on charilablg actsvits indudes all costs incurred by a charity in undertaking activitses that further its tharitable aims for the benefft of its beneficiaries, inciudir)g those support costs and cx)stS Telating to the governan of the charity apportioned to charttable activities. other expenditure indudes all expendre that is neFEher related to ralsing funds for thg charity nor part of its expendtture on charitable activtbes. All costs are allocated to expendihjte categThs reflecling Ihe use of the resour(*. Direct costs attributable to a single acti are allocated direcuy to that acbvtiy. Shared costs are apportioned betsveen the athitss they o)ntrityJte to on a reaable, justifiable and consistent basis.
Bright Future International Notes to the Financial Statements Year ended 31 August 2024 Donatlons and legacles Unrestricw Totsl Funds Funds 2024 Unrestrithd Funds Totsl Funds 2023 Donatlons Eamarked donations General donations 59,067 59.067 28.574 28,574 Miscellaneous Subscripllons Subscriptions 410 410 250 250 Othgr Income Unrestricted .*Funds Tolal Funds 2023 Unrestricted Total Funds Funds 2024 Gift Aid tax rebate Expendlture on charilable activities by nd typg Unrestricted Total Funds Unrestricted Funds 2024 Funds Total Funds 2023 Projects hjnding (nots 8) 61.1 61.190 31.980 31,980 Emergenw relief Support costs
Bright Future International Notes to the Financial Statements {condnuedJ Year ended 31 August 2024 Expendlture on charhabl8 actlvltles by actsvity type undertaken directly Support costs Totsl fvnds 2024 Total fund 2023 Projects funding (nok 8) 59.590 59.590 28,609 Educational projects (note 8) 1.519 1.519 2.292 Medicav Food relief (note 8) 81 81 1.079 Govemance ¢))sts Analysls of project funding 2024 2023 Livelihood Proierts 59,254 26,059 Educational Propcts 1.519 2.292 Water Aid Projects 336 2,550 Medicav Focmj relief 81 1,.079 Total Fundlng
Bright Future International Notes to the Financlal Statements (eM*n Year ended 31 August 2024 balph Independent examlnation fgo The independent examinakn is an honorary VA)rk as such no fee is payable. 10 Staff costs There were no employees in the charity as it is njn by its trust. as such no cost. 11. Trustee remunerdtlon and expenses No remuneration or otherbenefils frorn emtAoyTnent wtlh the thaiTty or a related entitywere recelved by the trustees. Anatysls of charitsble funds Unrestricted funds At Prlor year 1 September Income ExPendIre Transfers adjustment 2023 At 31 August 2024 General funds 66,273 {64.039) 7.099 Designated Fund Restrtcted Fund
Bright Future International Notes to the Financial Statements (c¢ Year ended 31 August 2024 2024 2023 12 Debtors Ottr debt$ 100 Income tsx recoverable 13. Creditors Other cr&Jitors Travel exper 14. Analysis of net assets between funds Unrestrioted Total Funds Funds 2024 Total Funds 2023 Cuent assets 7.099 4,865 Net assets io