CARE VENEZUELA
CARE VENEZUELA
Annual report and financial statements For the year ended 31 December 2021
CARE VENEZUELA
CONTENTS PAGE
TRUSTEES REPORT............................................................................................................................. 3 STATEMENT OF FINANCIAL ACTIVITIES .............................................................................................. 7 BALANCE SHEET ................................................................................................................................ 8 STATEMENT OF CASH FLOWS ............................................................................................................ 9 NOTES TO THE FINANCIAL STATEMENTS ......................................................................................... 10
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CARE VENEZUELA
TRUSTEES’ REPORT
for the year ended 31 December 2021
TRUSTEES REPORT
REFERENCE AND ADMINISTRATIVE INFORMATION
TRUSTEES
Karmele Sagarzazu-Achurra Patricia Araujo (Chair) Karla Sofia Hernández Irene Carolina Guevara García Helena Diez y Riega
PRINCIPAL OFFICERS
There are currently no staff employed by the charity. The activities and business of the charity are coordinated by the Trustees and volunteers.
BANKERS
The Co-Operative Bank Plc P.O. Box 250 Skelmersdale WN8 6WT
INDEPENDENT EXAMINER
None required
REGISTERED OFFICE
15 Hobbs Drive Wythenshawe Manchester M22 1WS
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CARE VENEZUELA
TRUSTEES’ REPORT
for the year ended 31 December 2021
OVERVIEW OF THE CHARITY
Care Venezuela (the Charity) is a volunteer-run organization with a five Trustees. No staff are employed to run the charity. Care Venezuela also has over 30 volunteers. They perform a variety of functions participating in events, organising fundraisers and collecting medical supplies. We have an insurance policy in place to cover volunteers and participants during our activities.
We collaborate where appropriate with other charities and local NGOS.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Care Venezuela (registered number: 1194266) was incorporated in England on 29 April 2021 and does not have any other names. The registered office of the Charity and the names of the trustees who served during the period and who were trustees at the date of approval of the financial statements, are disclosed on page TRUSTEES REPORT3.
The Charity is constituted as a Charitable Incorporated Organisation.
New Trustees are appointed by other Trustees, depending on the needs of the Charity and the qualifications and experience of the potential Trustee.
OBJECTIVES AND ACTIVITIES
As stated in its governing document, Care Venezuela’s object is: “to prevent and relieve of poverty in Venezuela by:
-
a. providing or assisting in the provision of grants;
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b. providing items and services to individuals in need or charities, or other organisations; and
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c. providing of health and medical supplies and equipment, food and items of personal hygiene and care”
In 2021, the Charity raised funds in order to make a bigger impact in the different activities supporting Venezuelan communities in 2022.
A. EXISTING PROJECTS
During 2021, no existing projects were undertaken.
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CARE VENEZUELA
TRUSTEES’ REPORT
for the year ended 31 December 2021
OBJECTIVES AND ACTIVITIES (continued)
B. NEW PROJECTS
During 2021, the Charity started, the following projects:
-Raising funds for the program “Una Luz para Venezuela”, donating rechargeable solar lamps to communities in low-income rural areas.
- Raising funds to donate more than 300 kgs of medical supplies to the Salesians Ladies Association in Caracas. The Salesian Ladies Association is a social development organization (SDP) founded by Salesian Priest Miguel González on May 13, 1968 in Caracas, Venezuela. They are focused on social volunteering where the commitment to the assisted communities is consistent. They channel their multiple mission towards popular health care, education for work, the rescue of youth and women in general, education, the creation and promotion of "micro-enterprises", the improvement of the indigenous and an important task of rescuing the female prison population. This work also includes the logistical and transport arrangements in order to get the necessary supplies to them.
ASSURANCE
The most significant risk is to ensure our supplies get to their destination and are used properly. We have established a network of volunteers across different states in Venezuela.
We choose institutions with a proven track record to work with. We also require pictures and acknowledgement of receipt of supplies.
Volunteers are an essential part of the organization and at Care Venezuela we consider them our most valuable asset. They support us organising events, collecting supplies, and running projects. We have guidelines that we share with those who wish to volunteer and provide assistance to those who want to stage events to raise funds for us.
ACHIEVEMENTS AND PERFORMANCE
Considering the pandemic, Care Venezuela looked at opportunities to run online fundraising events.
We have not received any grants.
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CARE VENEZUELA
TRUSTEES’ REPORT
for the year ended 31 December 2021
PUBLIC BENEFIT
The Trustees have considered the public benefit guidance issued by the Charity Commission. It is noted that a charitable organisation must be able to demonstrate that its aims are for the public benefit and that there must be compliance with two principles.
The first principle is that there must be an identifiable benefit or benefits.
The second principle requires that the benefit must be to the public or a section of the public.
The Trustees are satisfied that the Charity complies with both principles.
This report already contains a summary of the objects of this charity, a summary of its main activities and a record of its achievements in relation to its objects.
The Trustees are aware that via section 17 of the Charities Act 2011 there is an obligation to require Trustees to report on the Charity’s public benefit. The above section is intended to meet that requirement. The Trustees are aware that when planning the Charity’s activities they must have regard to the Commission’s guidance on public benefit. They confirm that they have had such regard.
FINANCIAL REVIEW
In 2021, Care Venezuela raised £1,703 through events, and JustGiving donations.
Figures below show funds raised per category:
-
Sports and social events: £758
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JustGiving donations: £945
Care Venezuela has total funds of £2,272
No funds are materially in deficit. Care Venezuela did not borrow funds to finance its operations.
As stated in the Charity Commission Guidelines Chapter 4: Holding, moving and receiving funds safely in the UK and internationally - summary “ Trustees must ensure that they exercise full supervisory control over their charity’s bank accounts. In practices this means the trustees of smaller charities will need to do it personally ”, our trustees had full visibility of the charity’s money movements. Our accounts are prepared by a trustee with extensive financial experience and thereafter they are reviewed by the other trustee.
Care Venezuela is run entirely by volunteers. Services such as courier, accounting, monitoring and auditing are paid to contractors to ensure the transparency and feasibility of our operations.
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CARE VENEZUELA
STATEMENT OF FINANCIAL ACTIVITIES
(including income and expenditure account)
For the year ended 31 December 2021
| INCOME FROM: Donations and legacies Generalgrants Charitable activities Other TOTAL INCOME EXPENDITUREON: Charitable activities Raisingfunds Other TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Note Unrestricted Funds £ Restricted Funds £ Total funds 2021 £ 3 2,150 (-) 2,150 4 (-) (-) (-) 5 3,546 (-) 3,546 94 (-) 94 5,790 (-) 5,790 6 (3,212) (-) (3,212) 7 (-) (-) (-) 8 (307) (-) (307) (3,518) (-) (3,518) 2,272 (-) 2,272 1,204 (-) 1,204 2,272 (-) 2,272 |
|---|---|
There were no other recognised gains or losses other than those listed above. All income and expenditure derive from continuing activities.
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CARE VENEZUELA
BALANCE SHEET
At 31 December 2021
| CURRENT ASSETS Debtors–amounts fallingdue within oneyear Cash at bank and in hand CURRENT LIABILITIES Creditors–amounts falling due within one year NET ASSETS CONSOLIDATED FUNDS Unrestricted funds: General fund Reserve fund (designated) Restricted funds TOTAL CONSOLIDATED FUNDS |
Note 31 December 2021 £ 9 (-) 10 2,450 11 (-) 2,450 12 (-) 12 (-) 12 (-) 2,450 |
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These financial statements were approved by the Board of Trustees and authorised for issue on 10 October 2022. They were signed on its behalf by:
Patricia Araujo Chair
Registered Charity No. 1194266
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CARE VENEZUELA
STATEMENT OF CASH FLOWS
for the year ended 31 December 2021
| Net movement in funds Adjustments for:Interest income Movements in workingcapital: (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash flows provided by operating activities Cash flows from investing activities: Interest received Net cash flows provided by investing activities Net cash flows provided by financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period |
Note 31 December 2021 £ 2,450 13 (-) (-) (-) 2,450 (-) (-) (-) 1,245 1,204 2,272 |
|---|---|
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CARE VENEZUELA
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2021
1. ACCOUNTING POLICIES
Company and charitable status
Care Venezuela, a registered charity, incorporated in England and Wales. The charity was founded on 12 December 2016 and its registered office address is given on page 3.
Basis of accounting
The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2015)” 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, and the Charities Act 2011.
The principal accounting policies are set out below and have been consistently applied throughout the current period and prior year.
Functional and presentation currency
The functional and presentation currency of the Charity is the sterling pound (£).
Going concern
Having assessed the Charity’s financial position and its plans for the foreseeable future, the Trustees are satisfied that the going concern assumption is an appropriate basis on which to prepare these financial statements.
Income
Income is recognised when donations are received or when the Charity has entitlement to the funds, any performance conditions attached to the items of income have been met and it is probable that the income will be received, and the amount can be measured reliably.
Income arising from the Charity’s activities is recognised as performance obligations are satisfied.
Grant income is credited to the statement of financial activities evenly over the period to which they relate. Where grant income is received in advance of the activity it is shown as deferred grant income in creditors.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
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CARE VENEZUELA
1. ACCOUNTING POLICIES (continued)
Taxation
The Company is a registered charity and has no liability to corporation tax on its charitable activities under the Corporation Tax Act 2010 (chapters 2 and 3 of part ii, section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the extent surpluses are applied to its charitable purposes.
Fund accounting
General funds (including designated funds) are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The Reserve fund represents a designated fund and will be only accessed if there is a significant shortfall in cash.
Restricted funds are those where the use of donations, gifts, grants or legacies received is restricted to purposes specified by the donor. Such purposes are within the overall aims of the organisation.
Employees and volunteers
There are no staff employed by the charity (2020: none). The activities and business of the charity are coordinated by the Trustees and unpaid volunteers.
Public benefit entity
The Trust constitutes a public benefit entity as defined by FRS 102.
Financial instruments
The Charity only has financial assets that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
- (i) Cash in bank and in hand
Cash and cash equivalents comprise cash in bank deposits. There are no amounts held within cash in bank and in hand that are unavailable for use.
- (ii) Debtors
Trade and other debtors are normally recognised at the settlement amount due after any trade discount offered.
(iii) Creditors
Trade and other creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
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CARE VENEZUELA
2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The Trustees do not consider that there are any critical judgements or key sources of estimation uncertainty requiring disclosure.
3. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | |
|---|---|
| Year ended | |
| 31December | |
| 2021 | |
| £ | |
| Donations frompeople(inc.gift aid) | 2,150 |
| Donations from companies | (-) |
| Donated medical supplies and equipment | (-) |
| Donated professional services | (-) |
| Total | 2,150 |
4. GENERAL GRANTS
| Group - - Total |
Unrestricted Funds £ Restricted Funds £ Year ended 31 December 2021 £ (-) (-) (-) (-) (-) (-) (-) (-) (-) |
|---|---|
The charity did not received any grants.
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5. INCOME FROM CHARITABLE ACTIVITIES
| Year ended | |
|---|---|
| 31 | |
| December | |
| 2021 | |
| £ | |
| Fund raisings(Quizzes 2021) | 80 |
| Care Venezuela Charity Shop | 44 |
| Parties and events | 3,422 |
| Others | (-) |
| Total | 3,546 |
6. EXPENDITURE ON CHARITABLE ACTIVITIES
| Medical and food supplies for Venezuela Transport costs to Venezuela Projects and activities funded in Venezuela Total |
Unrestricted funds £ Restricted funds £ Year ended 31 December 2021 £ (-) (-) (-) (-) (-) (-) (-) (-) (-) (-) (-) (-) |
|
|---|---|---|
7. EXPENDITURE ON RAISING FUNDS
| Expenses from organizing activities Postage printing and stationery Publicity and marketing Website design & maintenance Total |
Unrestricted funds £ Restricted funds £ Year ended 31 December 2021 £ 2,789 (-) 2,789 78 (-) 78 180 (-) 180 72 (-) 72 3,119 (-) 3,119 |
|
|---|---|---|
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CARE VENEZUELA
8. OTHER EXPENSES
| Year ended | |
|---|---|
| 31 | |
| December | |
| 2021 | |
| £ | |
| Storage Unit Rental | 272 |
| Google Suit (Mail and Cloud services) | 35 |
| Bank and other related charges | (-) |
| Others | (-) |
| Total | 307 |
9. DEBTORS – AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31 | |
|---|---|
| Charity | December |
| 2021 | |
| £ | |
| Trade debtors | (-) |
| Other debtors | (-) |
| Prepayments | (-) |
| Total | (-) |
| Amounts receivable from related parties | (-) |
| Total | (-) |
10. CASH IN BANK AND IN HAND
| SH IN BANK AND IN HAND | |
|---|---|
| 31 | |
| Group | December 2021 |
| £ | |
| Cash in bank | 2,272 |
| Cash (in Notes) | 178 |
| Total | 2,450 |
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11. CREDITORS – AMOUNT FALLING DUE WITHIN ONE YEAR
| Ground and Charity 31 December 2021 £ Trade creditors (-) Accruals (-) Other creditors (-) Total (-) |
|
|---|---|
12. CHARITY FUNDS
| Charity Balance at 29 April 2021 Net movements during the year Transfers Balance at 31 December 2021 |
~~U~~nrestricted fund: General fund £ Unrestricted fund: General fund £ Restricted funds £ Total £ 1,204 (-) (-) 1,204 2,450 (-) (-) 2,450 (-) (-) (-) (-) 2,272 (-) (-) 2,272 |
|---|---|
13. RELATED PARTY TRANSACTIONS
No Trustee received payment for professional or other services supplied to the Charity or received reimbursement of expenses from the Charity during the current period or prior year.
14. EVENTS AFTER THE REPORTING PERIOD
There were no events between the end of the reporting period and before the date of signing of the financial statements.
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