Charity registration number 1191707 (England and Wales)
VIB SAVE CHILDREN
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
VIB SAVE CHILDREN
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr G Gunasene Mrs V Gunasene Mr V Gunasene Mrs T D K Don
Charity registration 1191707 Accountants Affinia (Colchester) The Octagon Suite E2 2nd Floor Middleborough Colchester Essex CO1 1TG
VIB SAVE CHILDREN
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 9 |
VIB SAVE CHILDREN
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The trustees present their annual report and financial statements for the year ended 31 March 2026.
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 governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The charity's objects are to alleviate the hardship of children in developing countries through direct education sponsorship of the less privileged children in Asia and Africa. This includes the following activities:
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Supply of books and other school supplies;
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Payment of medical and health expenses;
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Distribution of food, clothing and other essential needs for the survival of children;
VIB Save Children currently have four trustees. We adhere to legal restrictions on appointing trustees. No actual experience is required but we look for specific knowledge and past experience in the kind of work we do in the various regions and countries around the world. Trustees can hold office for five years after which they can and may not be reappointed.
Throughout the period the trustees have paid due regard to the guidance issued by the Charity Commission on public benefit.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
During the year, VIB Save Children continued to expand its support to children and families in rural Sri Lanka through direct educational assistance and community development projects. The charity made significant progress on the rebuilding of the preschool in the tsunami-affected village, including completion of structural work and provision of essential learning materials. Ongoing programmes supplied school books, uniforms, dry food rations and medical support to low-income families, enabling children to remain in education throughout the year. In addition, the charity funded improvements to local facilities, supported extracurricular learning activities, and delivered targeted aid to vulnerable children identified through community partners. Despite limited fundraising conditions, the charity successfully sustained all core objectives and continued to deliver meaningful impact on children’s wellbeing and educational opportunities.
Financial review
Reserves policy
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 between three and six month’s expenditure. The trustees consider 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.
Structure, governance and management
The charity is a company limited by guarantee.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr G Gunasene Mrs V Gunasene Mr V Gunasene Mrs T D K Don
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VIB SAVE CHILDREN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
The trustees' report was approved by the Board of Trustees.
Vasudha Gunasene
..............................
Mrs V Gunasene Trustee Date: .............................................21 August 2026
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VIB SAVE CHILDREN
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VIB SAVE CHILDREN FOR THE YEAR ENDED 31 MARCH 2026
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2026.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 5 May 2026. Our work has been undertaken solely to prepare for your approval the financial statements of VIB Save Children and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VIB Save Children and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that VIB Save Children has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of VIB Save Children. You consider that VIB Save Children is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of VIB Save Children. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Affinia (Colchester)
.........................
Accountants
The Octagon Suite E2 2nd Floor Middleborough Colchester Essex CO1 1TG
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VIB SAVE CHILDREN
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2026
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2026 | 2025 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 3 | 15,200 | 12,079 |
| Total income | 15,200 | 12,079 | |
| Expenditure on: | |||
| Raising funds | 4 | 15,126 | 15,163 |
| Other expenditure | 7 | 1,680 | 1,560 |
| Total expenditure | 16,806 | 16,723 | |
| Net expenditure and movement in funds | (1,606) | (4,644) | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2025 | 2,381 | 7,025 | |
| Fund balances at 31 March 2026 | 775 | 2,381 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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VIB SAVE CHILDREN
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
| 2026 Notes £ Current assets Cash at bank and in hand 5,575 Creditors: amounts falling due within one year 9 (4,800) Net current assets The funds of the charity Unrestricted funds 10 |
2025 £ £ 5,501 (3,120) 775 775 775 |
£ 2,381 |
|---|---|---|
| 2,381 | ||
| 2,381 |
The trustees have not required the charity to obtain an audit of its financial statements for the period in question in accordance with section 476.
21 August 2026
The financial statements were approved by the trustees on .........................
Vasudha Gunasene
..............................
Mrs V Gunasene
Trustee
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VIB SAVE CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1 Accounting policies
Charity information
VIB Save Children is a charity registered with The Regulator for Charities in England and Wales. The principle place of business is No. 2, The Jays, Colchester, Essex, CO4 9TW.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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. 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.
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. Income represents amounts receivable from fundraising, grants and donations and other sundry items.
1.5 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.
1.6 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.
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VIB SAVE CHILDREN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
1 Accounting policies
(Continued)
1.7 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 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2026 | 2025 | |
| £ | £ | |
| Fundraising | 15,200 | 12,079 |
4 Expenditure on raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2026 | 2025 | |
| £ | £ | |
| Fundraising and publicity | ||
| Seeking donations, grants and legacies | 15,126 | 15,163 |
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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VIB SAVE CHILDREN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
6 Employees and Trustees
The average monthly number of employees including Trustees during the year was:
| 2026 | 2025 |
|---|---|
| Number | Number |
| 4 | 4 |
There were no employees whose annual remuneration was more than £60,000.
7 Other expenditure
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2026 | 2025 | |
| £ | £ | |
| Other expenditure | 1,680 | 1,560 |
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Creditors: amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2026 £ 1,060 2,060 1,680 4,800 |
2025 £ 1,060 500 1,560 |
|---|---|---|
| 3,120 |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | April | Incoming | Resources | At | 31 | March | |
|---|---|---|---|---|---|---|---|---|
| 2025 | resources | expended | 2026 | |||||
| £ | £ | £ | £ | |||||
| General funds | 2,381 | 15,200 | (16,806) | 775 |
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VIB SAVE CHILDREN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
| 10 | Unrestricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 1 April | Incoming | Resources | At 31 March | |
| 2024 | resources | expended | 2025 | ||
| £ | £ | £ | £ | ||
| General funds | 7,025 | 12,079 | (16,723) | 2,381 |
11 Audit Requirement
The trustees have confirmed that the charity is exempt from a full audit based on their size.
12 Related party transactions
During the year, the charity owed £2,060 (2024: £500 to (IECC) Independent Excel Care Consortium Limited, a related party that is controlled by the trustees of the charity. This transaction related to accountancy fees paid on behalf of the charity by the related party.
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