Company registration number 12584735 Registered charity number 1194065
## **Angels For Bulgaria**
**Trustees' Report and Unaudited accounts**
**for the year ended 31 May 2025**
1
## **Angels For Bulgaria Charitable Company**
||**Contents**||
|---|---|---|
|||**Page**|
|Reference and Administrative information||3|
|Trustees' annual report||4 - 5|
|Independent examiners' report||6|
|Statement of financial activities||7|
|Balance sheet||8|
|Statement of Cashflows||9|
|Notes to the financial statements||10 - 13|
2
## **Angels For Bulgaria Charitable Company**
## **Charity information**
Trustees who served during the year and up to the date of this report
Trustee S. Ivanova Trustee M. Toncheva Trustee A.I. Trayanova Company registration number 12584735 Charity number 1194065 Registered office 16 Birchfield Avenue Atherton Manchester M46 0HR Independent Examiner Meer & Co Chartered Accountants No.1 Cochrane House Admirals Way Canary Wharf London E14 9UD Bankers Barclays Leicester LE87 2BB
3
## **Angels For Bulgaria Charitable Company**
## **Report of the Trustees' for the year ended 31 May 2025 Angels For Bulgaria**
The Trustees present their annual report and the unaudited financial statements for the year ended 31 May 2025.
The report has been prepared in accordance with the the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006, the Charities Act 2011, and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 (the Charities SORP (FRS 102))
## **Structure, governance and management**
The charity is a company limited by guarantee and a registered charity. It is governed by its Memorandum and Articles of Association, which set out the objects and powers of the charity. The trustees of the charity are also the directors of the company for the purposes of company law.
Angels for Bulgaria is led by a Board of Trustees which meets at least monthly and is responsible for the strategic direction and policy of the charity.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Objectives and Activities**
The purpose of the charity is for the public benefit the relief of those in need in Bulgaria by reason of youth, age, ill-health, disability, or social or economic disadvantage in particular but not exclusively by coordinating and developing services such as, the provision of bedding, clothing, food, finance, medical assistance and such other services for those in need.
Angels for Bulgaria collects donations and works with institutions and other charity organisations in the UK and Bulgaria on specific causes and campaigns. The main target groups for support are the elderly, people with medical needs and poor families in need. Angels for Bulgaria relieving the poverty of elderly people, large families, the unemployed, those with ill-health and people with disadvantages by providing canned and non-perishable food, items of essential daily need, as well as essential everyday clothing and school materials for kids in need and in orphanages. Additionally, Angels for Bulgaria’s activities are aimed at poverty prevention by financing education and vocational training fees to help recipients earn their living and bring their lives to reasonable standards.
## **Achievements and performance**
Through over 180 different causes the charity has so far been able to help relieve the poverty of elderly people, large families, unemployed, ill-health and people with disadvantages by providing canned and non-perishable food, items of essential daily need, as well as essential everyday clothing and school materials for kids in need and in orphanages. Also, Angels for Bulgaria’s activities has funded education and vocational training for several young and elderly people of disadvantaged backgrounds, thus aims at benefiting the reduction of unemployment, financial hardship, crime and anti-social behaviour.
## **Financial review**
The donations Angels for Bulgaria are generally small on average are £20 per single donation in a given month with donations received from companies being higher. The donations are received either through PayPal Donate or bank transfer which provides additional level of security measures that have been taken for those donors. The charity aims to unite all Bulgarians living abroad to financially contribute to the activities. They have the option to donate each month through direct deposit or to do it once as a single donation. Thus, the Bulgarians from around the world are the main donor to the organisation. Reports for all spending is published on our website after each cause is completed. Through its transparency practices and attraction of new donors Angels for Bulgaria has gradually increased donations which have allowed for the charity to expand their causes and reach more people in need.
## **Plan for future periods**
The charity aim is to be able to attract more donors and also where possible receive charity grants which will enable the charity to expand their causes and support even more people in need.
4
## **Statement of Trustees' responsibilities**
The charity trustees (who are also the directors of the company) are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with United Kingdom Generally Accepted Accounting Practice and applicable law.
The trustees must keep proper accounting records, safeguard the charity’s assets, and take reasonable steps to prevent and detect fraud and other irregularities. They are also responsible for ensuring that the financial statements comply with the Companies Act 2006, the Charities Act 2011, and the charity’s governing document.
Approved by the Trustees and signed on 6 March 2026 its behalf by:
## ----------------------------------------------
Milena Toncheva, Angels for Bulgaria (Mar 6, 2026 17:13:20 GMT) **M. Toncheva Trustee**
**06/03/2026**
5
## **Angels For Bulgaria Charitable Company**
## **Independent examiners' report to the trustees of Angels For Bulgaria**
I report to the trustees on my examination of the financial statements of the charity for the year ended 31 May 2025.
This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 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:
-�accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-�the financial statements do not accord with those records; or
- the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached
----------------------------------------------
**Haroon Rafique- ACA, ICAEW, Chartered Accountant For and on behalf of Meer & Co Chartered Accountants**
**No 1 Cochrane House Admirals Way Canary Wharf London E14 9UD**
## **06/03/2026**
6
## **Angels For Bulgaria Charitable Company**
## **Statement of financial activities for the year ended 31 May 2025 Angels For Bulgaria**
|**Notes**
**Income and endowments from:**
Donations
3
Other
**Expenditure on:**
Raising funds
4
Charitable activities
5
Net gains/(losses) on investments
**Reconciliation of funds:**
Total funds brought forward
10
**Net movement in funds**
**Total funds carried forward**
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
**Total incoming resources**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income funds**
**Total funds**
**2024/25**
**2024/25**
**2024/25**
**2023/24**
**2023/24**
**2023/24**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||83,758
-
83,758
79,493
-
79,493
42
-
42
57
-
57|
||**83,800**
**-**
**83,800**
**79,550**
**-**
**79,550**|
||(18,682)
-
(18,682)
(20,902)
-
(20,902)
(64,988)
-
(64,988)
(60,490)
-
(60,490)|
||**(83,670)**
**-**
**(83,670)**
**(81,392)**
**-**
**(81,392)**|
||-
-
-
-
-
-|
||**130**
**-**
**130**
**(1,842)**
**-**
**(1,842)**
-
-
-
-
-
-|
||**130**
**-**
**130**
**(1,842)**
**-**
**(1,842)**
-
`
-
9,111
-
9,111
10,953
-
10,953|
||**9,241**
**-**
**9,241**
**9,111**
**-**
**9,111**|
**The notes on the following pages form an integral part of the accounts**
7
## **Angels For Bulgaria Charitable Company**
## **Balance Sheet for the year ended 31 May 2025 Angels For Bulgaria**
|||**Unrestricted**|**Restricted**|||**Unrestricted**|**Restricted**|||
|---|---|---|---|---|---|---|---|---|---|
|||**funds**|**income funds**||**Total funds**|**funds**|**income funds**||**Total funds**|
||**Notes**|**2024/25**|**2024/25**||**2024/25**|**2023/24**|**2023/24**||**2023/24**|
|||**£**|**£**||**£**|**£**|**£**||**£**|
|**Current Assets**|||||||||-|
|Cash and cash equivalents|10|11,641||-|11,641|11,511||-|11,511|
|**Total Current Assets**||11,641||-|11,641|11,511||-|11,511|
|**Liabilities**|||||-||||-|
|Creditors falling due within one year||(2,400)||-|(2,400)|(2,400)||-|(2,400)|
|**Net current assets/(liabilities)**||9,241||-|9,241|9,111||-|9,111|
|**Total assets less current liabilities**||9,241||-|9,241|9,111||-|9,111|
|Creditors falling due after more than one|year|-||-|-|-||-|-|
|**Total net assets or liabilities**||**9,241**||**-**|**9,241**|**9,111**||**-**|**9,111**|
|**The fund of the charity**|11||||-||||-|
|Restricted income funds||||-|-|||-|-|
|Unrestricted income funds||9,241|||9,241|9,111|||9,111|
|**Total charity funds**||**9,241**||**-**|**9,241**|**9,111**||**-**|**9,111**|
## **The notes on the following pages form an integral part of the accounts**
For the financial year ended 31 May 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year ended 31 May 2025 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board on and signed on its behalf by
Milena Toncheva, Angels for Bulgaria (Mar 6, 2026 17:13:20 GMT)---------------------------------------------- **M. Toncheva Trustee Registration number, 1194065**
**Date 06/03/2026**
8
## **Angels For Bulgaria Charitable Company**
## **Statement of Cash Flows for the year ended 31 May 2025 Angels For Bulgaria**
|**Notes**
**Cash flows from operating activities**
Net income/(expenditure) for the year
Adjustment
Depreciation/amortisation
(Gains)/losses on investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Cash flows from investing activities**
Interest received
Investment
**Cash flows from financing activities**
Proceeds from new borrowings
Repayment of borrowings
**Cash and cash equivalents at end of year**
**Net cash from investing activities**
**Increase / (decrease) in cash and cash equivalents**
**Cash and csh equivalents at beginnig of year**
**Net cash from operating activities**
**Net cash from investing activities**|**2024/25**
130
-
-
-
-
**130**
-
-
**-**
-
-
-
130
**11,511**
**11,641**|**2023/24**
1,842
-
-
-
-
-|
|---|---|---|
|||**1,842**
**-**|
|||-
-|
|||**-**|
|||-
-
-|
||||
|||1,842
-|
|||**13,353**|
||||
|||**11,511**|
**The notes on the following pages form an integral part of the accounts**
9
## **Angels For Bulgaria Charitable Company**
## **Notes to the accounts for the year ended 31 May 2025 Angels For Bulgaria**
## **1 GENERAL INFORMATION**
The company is a private company limited by guarantee and consequently does not have share capital.
## **2 Accounting policies**
## **Accounting convention**
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Income resources**
All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.
## **Income with related expenditure**
Where income has related expenditure the income and related expenditure is reported gross in the SoFA.
## **Donations and legacies**
Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
## **Tax reclaims on donations and gifts**
Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates.
## **Donated services and facilities**
These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
## **Investment income**
This is included in the accounts when receivable.
## **Gains/(losses) on revaluation of fixed assets**
This includes any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Gains/(losses) on investment assets**
This includes any gain or loss on the sale of investments.
## **Expenditure**
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
## **Allocation of support costs**
Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration, professional costs and IT support. Support costs have been apportioned between fundraising costs and charitable activities on an appropriate basis.
## **Fund raising Costs**
The costs of generating funds are those costs attributable to generating income for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the charity’s objects.
## **Charitable activities**
Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure include an apportionment of support costs
## **Grants payable**
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
## **Financial Instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
10
## **Fund accounting**
Unrestricted funds are donations and other incoming resources receivable or granted for the objects of the charity without further specified purpose and are available as general funds.
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.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation fund are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
## **Debtors**
Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount.
## **Cash and cash equivalents**
Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due.
## **Creditors**
Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt. Amounts which are owed in more than a year are shown as long-term creditors..
## **Taxation**
The charity is exempt from corporation tax on its charitable activities
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
## **Leased assets**
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
## **3 Income**
The total income of the charity for the year has been derived from its principal activity wholly undertaken in the UK
|||**Restricted income**|**Restricted income**||**Unrestricted**|**Restricted income**||
|---|---|---|---|---|---|---|---|
||||**funds**|**Total funds**|**funds**|**funds**|**Total funds**|
||||**2024/25**|**2024/25**|**2023/24**|**2023/24**|**2023/24**|
||||£|£|£|£|£|
||Donations||-|83,758|79,493|-|79,493|
||Other||-|42|57|-|57|
||||-|83,800|79,550|-|79,550|
|**4**|**Analysis of Expenditure on Raising funds**|||||||
|||**Restricted income**||**Total**|**Unrestricted**|**Restricted income**|**Total**|
|||**funds**|||**funds**|**funds**||
||||**2024/25**|**2024/25**|**2023/24**|**2023/24**|**2023/24**|
||||£|£|£|£|£|
||Raising funds||-|17,387|19,871|-|19,871|
||Support Costs||-|1,295|1,031|-|1,031|
||Total||-|18,682|20,902|-|20,902|
11
|**5**
**Analysis of Expenditure on Charitable Expenditure**
**Restricted income**
**funds**
**Total**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
Donation and grants
-
59,809
56,364
Support Costs
-
5,179
4,126
Total
-
64,988
60,490
**6**
**Allocation of Support Costs and overheads**
**2023/24**
**2024/25**
**2023/24**
£
£
£
Subscription
34
-
7
Information and publications
443
101
89
Telephone
160
36
32
Printing,postage and stationery
405
34
81
Software, IT support and related
costs
286
122
57
General
3
199
1
Bank charges
1,426
229
285
Accountancy
1,000
280
200
Independent examiner fee
1,400
200
280
Travel
-
93
5,157
1,295
1,031
**Restricted income**
**funds**
**Total**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
Raising Funds
-
1,295
1,031
Charitable Activites
-
5,179
4,126
-
6,473
5,157
**7**
**Restricted income**
**funds**
**Total funds**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
Subscription
-
-
34
Information and publications
-
503
443
Telephone
-
180
160
Printing,postage and stationery
-
171
405
Software, IT support and related
costs
-
612
286
General
-
997
3
Bank charges
-
1,146
1,426
Accountancy
-
1,400
1,000
Independent examiner fee
-
1,000
1,400
Travel
-
465
-
-
6,473
5,157
**8**
**`**
Management staff
**Employment Costs**
Wages and salaries
Social security costs
Employers pension contribution
£60,000 - £69,999
No employee received emoluments in excess of £60,000.
**9**
**Creditors: Amounts falling due within one year**
**Support Costs and Overheads**
**Total**
The number of employees whose emoluments pension contributions and
employer's national insurance fell within the following ranges was:
The average `monthly number of employees (including the Trustees) during
the year were:
**Raising Funds**
**Employees**|**able Expenditure**
**Restricted income**
**funds**
**Total**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
-
59,809
56,364
-
5,179
4,126|**able Expenditure**
**Restricted income**
**funds**
**Total**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
-
59,809
56,364
-
5,179
4,126|**Restricted income**
**funds**
**Total**
**2023/24**
**2023/24**
£
£
-
56,364
-
4,126|
|---|---|---|---|
||-
64,988
60,490||-
60,490|
||**verheads**|||
||**Total**|**Raising Funds**|**Charitable Activities**|
||**2023/24**
**2024/25**
**2023/24**
£
£
£
34
-
7
443
101
89
160
36
32
405
34
81
286
122
57
3
199
1
1,426
229
285
1,000
280
200
1,400
200
280
-
93||**2024/25**
**2023/24**
£
£
-
27
402
354
144
128
137
324
489
229
798
2
917
1,141
1,120
800
800
1,120
372|
||5,157
1,295
1,031||5,179
4,126|
||**Restricted income**
**funds**
**Total**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
-
1,295
1,031
-
5,179
4,126||**Restricted income**
**funds**
**Total**
**2023/24**
**2023/24**
£
£
-
1,031
-
4,126|
||-
6,473
5,157||-
5,157|
||**Restricted income**
**funds**
**Total funds**
**Unrestricted**
**funds**
**2024/25**
**2024/25**
**2023/24**
£
£
£
-
-
34
-
503
443
-
180
160
-
171
405
-
612
286
-
997
3
-
1,146
1,426
-
1,400
1,000
-
1,000
1,400
-
465
-||**Restricted income**
**funds**
**Total funds**
**2023/24**
**2023/24**
£
£
-
34
-
443
-
160
-
405
-
286
-
3
-
1,426
-
1,000
-
1,400
-
-|
||-
6,473
5,157||-
5,157|
||||**2024/25**
**2023/24**
-
-
**2024/25**
**2023/24**
**£**
**£**
-
-
-
-
-
-|
||||-
-|
||||-
-
**2024/25**
**2023/24**|
12
|Accruals and deferred income
**10**
Cash and cash equivalents
**11**
**Brought forward**
**Income**
**£**
**£**
**FUNDS- CURRENT YEAR**
**Analysis of unrestricted funds movement**
General funds
9,111
83,800
**Analysis of restricted funds movement**
Restricted funds
-
-
Summary of Funds- Current year
9,111
83,800
**FUNDS- PRIOR YEAR**
**Analysis of unrestricted funds movement**
General funds
10,953
79,550
**Analysis of restricted funds movement**
Restricted funds
-
-
Summary of Funds- Prior year
10,953
79,550
**Funds movement**
**Reconciliation of net debt**|**At 1 June 2024**
**£**
11,511|**£**
2,400|**£**
2,400|
|---|---|---|---|
|||2,400|2,400|
||||**At 31 May 2025**
**£**
11,641|
||11,511||11,641|
||||**Carried forward**
**£**
9,241
-
9,241
9,111
-
9,111|
13