THE RURAL GEMS FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2023 CHARITY NUMBER: 1194124 THE RURAL GEMS Contents of the Financial Statements for the perlod 01 April 2023 to 31 March 2023 Content Page Content Legal and Administrative details Trustee's Report Independent Examinerfs Report Statement of Financial Activitie5 Statement of Assets and Liabilities Notes on the Financial Statements 7-10 Legal and Administrative details of the Charity, its Trustees and Advisers for the year ended 31" March 2023 The Rural Gems is governed bythe Charities Art 2011, operates under regulations 2012 of the Charitable Incorporated Organisations {"General Regulations,). and administered by an executive board comprising of the board of trustee. The board of trustee provides Strategic leadership and the day to day administration and running of the charity. There are currently three serving members in the board of trustees and they are: 8oard of Trustees Edmund Nwagbaraocha IChairman} Chinenye Izuchukwu (Member) Chiazo Uzoamaka Ezenwa (Member) Charity Registered Number 1194124 Independent examiner Pathway Accountancy Ltd 72 McLeod road London SE2 OBS Bankers The Co-operative Bank l Balloon St, Manchester M604EP Trustees Report for the Year Ended 31st March 2023 Our Aims and objectives Our purposes as set out in the objects contsined in the governing document of the Charity are= For the public benefit in London and surrounding areas, the relief of unemployment, in such ways as may be thought fit, including assistance to find employment. particularly. but not exclusively foryoung people facing the greatest barriers to realising their potential. The aims of our charity are to promote education. leaming and training among disadvantaged persons including children, young people and adults in the UK arid deliver various employability training and programmes as a way of reducing child poverty- Our aims fully reflect the purposes that the charity was set up to further. Achievements and Perfonnan During this year, we supported 32 disadvantaged children from BAME background with free 1=1 online tuition in order to bridge the gap created by COVltk19. In addition, monthly family sessions were held to promote family cohesion and improve the mental health status of l)oth parents and children. We held three employmentlbusiness training sessions and one mentoring programme for young people. Achievements against objectives set Children who had been distratted from their academic5 by the COVID pandemic became refocused and had better guidance on future careers. The I".1 tuition meant that teaching was tailored to individual studenvs needs. The free tuition also meant that low-income parents were beneficiaries of our activities. These boosted the confidence of the children from disadvantaged background. Our training sessions led to the birth of three131 new businesses and participants made new contacts. Furthermore, our training sessions, which were delivered by experts. gave huge insights on best practices for business and employment. To promote community cohesion and involvement of deprived members of the community, we also provided free culturally appropriate meals to the 300 disadvantaged individualslfamilies in London and its surrounding areas. Performance of fundraising activities against objectives set No funding was received in the year under review. However. funding received earlier from Peabody was used for both free l-.1 tuition and promotion of health and well-being of resident5 of their estates who come from poorldisadvantaged background. These funding were specifically used for the set objects and detailed reports provided to the funders. In addition. individuals especially family and friends sponsored parts of our employment training sessions. urd agEarS'- A, oc Chairman, Board of Trustees Pathwayaccountants Roy Bello (Feb 3, 2024, 4:50pm) The Rural Gerns Statement of Financial Artivities for the year ended 31 March, 2023 Unrestricted Funds Mar-23 Totsl Funds Total Funds Mar-23 Mar-22 Incoming Resources from Generated Funds Voluntary Income Note 343.(Kl 343. 21,958 Total Incorning Resource5 343.00 343.00 21.958 Resources Expended Charitable Activities in furtherance of Objertives Support costs and Administration Governance Costs Total Resources Expended 8,154.tK) 1.759.00 8,154.1)0 1,759.00 840.00 10,753.00 13,662 1,356 750 15,768 10,753.tKJ Net movement in funds 10,410.00 10,410.IXI 6.190 Fund balance brought foThvard Total Funds carried forward 13,518 23.928.00 13,518 23.928.(KJ 19.708 13,518 The Rural Gems Balance sheet as at 31 March, 2023 Mar-23 Mar-23 Unrestrirted fvnd5 ToLIl funds Mar-22 Total funds Current Assets Cash at bank and in hand Debtors 861.1X) 11,186.(M) 861.1XJ 11,186.CrfJ 18,619.CK) 8,8CQ.( Total Current Q55ets 12.047.(KJ 12,047.00 27,419.00 Current Liabilities Creditors: Amount falling due after one yeai 35.975.tMI 35,975.00 40,937.00 Net Assets 23,928.00 23,928.00 13,518.00 Unrestricted Funds Accumulated fund blf for the year Total fund5 carried forward 13.518.00 10,410.00 23.928.00 13,518.(KJ 10.410.Th) 23,928.(K) 19,708.00 6.190.00 13,518.00 THE RURAL GEMS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023 I. ACCOUNTING POUCIES Accounting Convention The financial statements are prepared under the historic cost convention and in accordance with the Financial Reporting Standard for Smaller Entities {effectrve January 20151, the Charrties Act 2011 and the requirements of the statement of Recommended Practice. Accountin8 and Reporting by Charities (issued July 20141 Incoming Resources Incoming ￿SOurCeS are recognised in the statement of financial acttvities when entitlement has passed to the charity and the amounts are certain and measurable. Any incoming resources received that relate exclusively to future periods are deferred on the Balance Sheet. Resources Expended 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 specific headings, they have been allocated to attivities on a basis consistent with the use of resources Grants Grants offered subject to conditions which have not been met at the year*nd date are noted as commitment but not accrued as expenditure. Support Costs Support costs comprise those costs that are necessary to deliver an activity but in themselves do not produce or deliver an activity- Support costs are allocated to activities based on the direct salary costs of the activity compared with total activity salary costs Governance costs Governance costs are those costs incurred to meet statutory and constttutional requirements. Fund Accounting Restricted ftFnds represent income received that is subject to restrictions OTr Use as detemined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for spectfic purposes. General funds are those funds made available for charitls general objects. Taxation The charity is exempt from tax on its charitable activities Tangible Fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over it5 estimated useful life. Fixed assets over Ésc￿ are capitalised and depreciated accordinglv Equipment Fixtures and fittinEs Motor Vehicles -20% on cost -10% on cost -20% on tost The Rural Gems Notes to the Account foryear Ended 31 Marth, 2023 Mar-23 Mar-23 Mar-22 2.Debtors and Credltors Loan Debtor5 12,180.IX) 12.180.(KI 8.8CIJ. Bounce back loan IStsrlinE bank) 35,975.IK) 35.975.00 40.937.CK) 3. In¢omlng Resources Unrestrirted Funds Total funds Total fLtnd5 17,955.CK) 4,003.00 21.958.00 Grants Donations 343.00 343.00 343.C(t 343. 4. Governance costs Atcountsncy 840.00 840.(K) 840.CK) 840.(K 750.00 750.00 The Rural Gems Notes to the Account for Year Ended ai M*th. 2023 5. Cost of Art1¥￿e$ in furtherance of Charity's Unrestric￿ funds Total fund5 Mar-23 Mar-23 Total furKIs Mar-22 Visiting speaker's & Volunteers Training Charitable events Professional fees Transport and Travelling Website. hosting and IT support Postage & stationery Telephone and internet services Sundry expenses Subscription Accountancy 1.702.00 4.292.00 1.595.(K) 1.702. 4.292.00 1.595.00 464.00 101.00 1.069.00 445.00 133.¢M) 77.00 35.(K) 840.00 1,319.00 6,972.00 2,070.00 556.00 2,745.00 431.(N) 255.00 520.00 150.00 ioi.00 1.069.tJ) 445. 133. 77.00 35.(M) 750.00 TOTAL 10.753.00 10.753.00 15,768.00 The Rural Gems Detailed Statement of Financial Activities For the year ended 31 March, 2023 Unre5trirted ￿ndS Mar-23 Totsl funds Mar-23 Total funds Mar-22 6.INCOMING RESOURCES Grants Donations 17,955.00 4,CK)3.00 21,958.00 343.fX) 343. 343.00 343.00 RESOURCES EXPENDED 7. Charitable actlvlties Visiting speaker's & Volunteers Training Charitable events Professional fees Transport and Travelling 1.702.(X) 4.292. 1.595.(X) 1.702.00 4,292.00 1.595.(X) 464.00 ioi.00 8.154.lJ) 1,319.(KJ 6,972.00 2,070.00 556.00 2,745.00 13,662.00 lo1.￿) 8,154.(X) 8. Support and Adrninistration Costs Website, hosting and IT support Postages, printing & stationery Telephone and internet services Sundry expenses Subscription 1,069.C 445. 133.1X) 77.(M) 35. 1,759.(K) 1,069.00 445.00 133.00 77.00 35.00 1,759.00 431.00 255.00 520.00 150.00 1,356.00 9. Governance costs Accountancy 750.(rt) 750. 840.(X) 840.(KI Total resources expended 10.753.IK) 10.753.00 15,768.00 Net income lexpensel 10.410.1X) 10,410.(X) 6,190.00 Fund balances at l April 13,518.CKI 13,518.IKJ 19.708.(MI Fund balances at 31 March 23.928.(X) 23.928.00 13,518.00 10 ## **Issuer** **Issuer** Pathway Accountancy Ltd **Document generated** Sat, 3rd Feb 2024 16:45:50 UTC **Document fingerprint** 6aec84adc3eaba8349dec9e62597a98b ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Sat, 3rd Feb 2024 16:50:39 UTC Sat, 3rd Feb 2024 18:02:23 UTC ## **Audit history log** ## **Date** Sat, 3rd Feb 2024 18:02:23 UTC Sat, 3rd Feb 2024 18:02:23 UTC Sat, 3rd Feb 2024 18:02:23 UTC Sat, 3rd Feb 2024 18:01:51 UTC Sat, 3rd Feb 2024 16:52:06 UTC Sat, 3rd Feb 2024 16:51:57 UTC Sat, 3rd Feb 2024 16:50:40 UTC Sat, 3rd Feb 2024 16:50:39 UTC Sat, 3rd Feb 2024 16:50:10 UTC Sat, 3rd Feb 2024 16:49:55 UTC Sat, 3rd Feb 2024 16:49:48 UTC Sat, 3rd Feb 2024 16:49:48 UTC Sat, 3rd Feb 2024 16:49:47 UTC Sat, 3rd Feb 2024 16:49:47 UTC Sat, 3rd Feb 2024 16:47:04 UTC Sat, 3rd Feb 2024 16:47:04 UTC Sat, 3rd Feb 2024 16:46:28 UTC Roy Bello - Signer (6f38c451b290cc95883ef34396abb8a0) Edmund Nwagbaraocha - Signer (8ce94573b413c6f6578362fe274f08cf) **Action** Edmund Nwagbaraocha viewed the envelope (188.220.52.49) This envelope has been signed by all parties (188.220.52.49) Edmund Nwagbaraocha signed the envelope (188.220.52.49) Edmund Nwagbaraocha viewed the envelope (188.220.52.49) Edmund Nwagbaraocha viewed the envelope (188.220.52.49) Edmund Nwagbaraocha opened the document email. (66.249.93.100) Roy Bello viewed the envelope (185.34.83.66) Roy Bello signed the envelope (185.34.83.66) Roy Bello viewed the envelope (185.34.83.66) Edmund Nwagbaraocha opened the document email. (66.249.92.44) Document emailed to euinengine@gmail.com (18.170.221.99) Document emailed to info@pathwayaccountants.co.uk (3.10.179.134) Sent the envelope to Edmund Nwagbaraocha (euinengine@gmail.com) for signing (185.34.83.66) Sent the envelope to Roy Bello (info@pathwayaccountants.co.uk) for signing (185.34.83.66) Edmund Nwagbaraocha has been assigned to this envelope (185.34.83.66) Roy Bello has been assigned to this envelope (185.34.83.66) Document generated with fingerprint 6aec84adc3eaba8349dec9e62597a98b (185.34.83.66) Sat, 3rd Feb 2024 16:45:50 UTC Envelope generated by Roy Bello (185.34.83.66)