THE RURAL GEMS
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2025 CHARITY NUMBER: 1194124
THE RURAL GEMS
Contents of the Financial Statements for the period 01 April 2025 to 31 March 2025
Content Page Content 1 Legal and Administrative details 2 Trustee’s Report 3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Statement of Assets and Liabilities 6 Notes on the Financial Statements 7-9
Legal and Administrative details of the Charity, its Trustees and Advisers for the year ended 31[st] March 2025
The Rural Gems is governed by the Charities Act 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:
Board of Trustees
Edmund Nwagbaraocha (Chairman) Chinenye Izuchukwu (Member) Chiazo Uzoamaka Ezenwa (Member)
Charity Registered Number
1194124
Independent examiner
Pathway Accountancy Ltd 72 McLeod road London SE2 0BS
Bankers
The Co-operative Bank 1 Balloon St, Manchester M60 4EP
Trustees Report for the Year Ended 31st March 2025 Our Aims and objectives
Our purposes as set out in the objects contained 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 for young people facing the greatest barriers to realising their potential.
The aims of our charity are to promote education, learning and training among disadvantaged persons including children, young people and adults in the UK and 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.
Edmund N
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Edmund Nwagbaraocha Chairman, Board of Trustees
Independent Examiner’s Report to the Trustees of THE RURAL GEMS
We report on the financial statements for the year ended 31st March 2025, which are set out in pages 5 to 10. This report is made solely to the Charity’s Trustees, as a body.
Respective responsibilities of trustees and examiner
The Trustees are responsible for the preparation of the financial statements.
The charity’s trustee consider that an audit is not required for this financial statement (under section 43 (2) of the charity commission (under section 43(7) (b) of the act), and to state whether particular matters have come to our attention.
Basis of Independent examiners report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.
Independent examiners statement
In the course of our examination, no matter has come to our attention: which indicates that:
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Adequate accounting records have not been kept in accordance with section 130 of the 2011 Act;
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The financial statements are not in agreement with the accounting records
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We have not received all the information and explanations we require for our review.
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Roy Bello (MBA, ACA, FFA)
Pathway Accountancy Ltd Accountants 72 McLeod road London SE2 0BS
The Rural Gems
Statement of Financial Activities for the year ended 31st March 2025
Unrestricted funds Total funds
| Incoming Resources from Generated Funds Note Receipts Voluntary Income 1 Total Incoming Resources Resources Expended Support costs and Administration 2 Governance cost 3 Net movement in funds Total Fund Balance b/fwd TOTAL FUND BALANCE C/FWD |
2025 2025 2024 £ £ £ 115 115 11,211 115 115 11,211 1,351 1,351 1,131 840 840 840 2,191 2,191 1,971 - 2,076 - 2,076 9,240 - 14,688 - 14,688 - 23,928 - 16,764 - 16,764 - 14,688 |
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The Rural Gems
Statement of Assets and Liabilities as at 31st March 2025
| Note Current Assets Cash at bank and in hand 4 Debtors 4 Total Current assets Current Liabilities Creditors Net Assets Reconciliation of funds Unrestricted funds Bfwd For the year Total funds carried forward |
2024 Unrestricted funds Total funds Total funds £ £ £ 100 100 871 - - 15,454 100 100 16,325 16,864 16,864 31,013 16,764 - 16,764 - 14,688 - 14,688 - 14,688 - 23,928 - 2,076 - 2,076 - 9,240 16,764 - 16,764 - 14,688 - 2025 |
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THE RURAL GEMS
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements are prepared under the historic cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the requirements of the statement of Recommended Practice, Accounting and Reporting by Charities (issued July 2014)
Incoming Resources
Incoming resources are recognised in the statement of financial activities 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 activities on a basis consistent with the use of resources
Grants
Grants offered subject to conditions which have not been met at the year-end 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 constitutional requirements.
Fund Accounting
Restricted funds represent income received that is subject to restrictions on use as determined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for specific purposes. General funds are those funds made available for charity’s 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 its estimated useful life. Fixed assets over £500 are capitalised and depreciated accordingly
Equipment -20% on cost Fixtures and fittings -10% on cost Motor Vehicles -20% on cost
The Rural Gems Notes to the Accounts for the year ended 31st March 2025
| 1. Receipts Donations Grants 2. Payments Telephone and internet services Professional fees Salary & wages Subscription Bank charges Depreciation 3. Governance cost Accountancy Fees Total resources expended |
Unrestricted funds Total funds Total funds 2025 2025 2024 £ £ £ 115 115 1,211 - 10,000 115 115 11,211 - 200 1,195 1,195 - 517 156 156 319 - 95 - 1,351 1,351 1,131 840 840 840 840 840 840 2,191.00 2,191.00 1,971.20 |
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