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2022-12-31-accounts

CARE VENEZUELA

CARE VENEZUELA

Annual report and financial statements For the year ended 31 December 2022

CARE VENEZUELA

CONTENTS PAGE

TRUSTEES REPORT .................................................................................................................................. 3 STATEMENT OF FINANCIAL ACTIVITIES .................................................................................................. 8 BALANCE SHEET ..................................................................................................................................... 9 STATEMENT OF CASH FLOWS .............................................................................................................. 10 NOTES TO THE FINANCIAL STATEMENTS ............................................................................................. 11

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CARE VENEZUELA

TRUSTEES’ REPORT

for the year ended 31 December 2022

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 2022

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:

In 2022, the Charity raised funds in order to make a bigger impact in the different activities supporting Venezuelan communities in 2023.

A. EXISTING PROJECTS

During 2022, the following projects were undertaken.

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CARE VENEZUELA

TRUSTEES’ REPORT

for the year ended 31 December 2022

OBJECTIVES AND ACTIVITIES (continued)

B. NEW PROJECTS

During 2022, the Charity started, the following projects:

-Continuing with the raising of funds for the program “Una Luz para Venezuela”, donating rechargeable solar lamps to communities in low-income rural areas.

-Collaborating with the Elders from Casa Hogar Pedro Ernesto Jimenez providing medical supplies to help the elderly that are in need of medications.

-One of the projects in which we use the donations that our supporters generously give us is medical assistance organised in poor communities in some cities in Venezuela.

One of the organizations we have been supporting is Fundación Angel Gabriel located in Cumana city. It is made up of several doctors in different specialties’ such as pediatrics and nutrition aside from the help of volunteers from the community who come together to participate and support in whatever is necessary to achieve the goals.

The team has identified a critical situation in the community of El Peñon, where 50 children suffer from malnutrition and elderly suffer lack of care and medical attention. Care Venezuela is doing whatever we can to support them. Thanks to gestures of many people, we have been able to execute 6 medical assistance days leading to great progress in the process to fight malnutrition in those children and medical care to elderly people.

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

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CARE VENEZUELA

TRUSTEES’ REPORT

for the year ended 31 December 2022

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 that we are not very well known yet, Care Venezuela looked at opportunities to run online fundraising events and presential events.

We have not received any grants.

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.

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CARE VENEZUELA

TRUSTEES’ REPORT

for the year ended 31 December 2022

FINANCIAL REVIEW

In 2022, Care Venezuela raised £2,502 through events, and JustGiving donations.

Figures below show funds raised per category:

Care Venezuela has total funds of £2,502

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 2022

INCOME FROM:
Donations and legacies
General grants
Charitable activities
Other
TOTAL INCOME
EXPENDITUREON:
Charitable activities
Raising funds
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
2022
£
3
1,378
(-)
1,378
4
(-)
(-)
(-)
5
10,650
(-)
10,650
0
(-)
0
12,028
(-)
12,028
6
(8,634)
(-)
(8,633)
7
(490)
(-)
(490)
8
(401)
(-)
(401)
(9,525)
(-)
(9,525)
2,503
(-)
2,503
1,378
(-)
1,378
2,503
(-)
2,503

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 2022

CURRENT ASSETS
Debtors–amounts falling due within one year
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
2022
£
9
(-)
10
2,645
11
(-)
2,645
12
(-)
12
(-)
12
(-)
2,645

These financial statements were approved by the Board of Trustees and authorised for issue on September 2023. 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 2022

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
£
31
December
2022
£
1,983
2,645
13
(-)
0
(-)
0
(-)
0
1,983
2,645
(-)
0
(-)
0
(-)
0
779
1,267
1,204
1,378
1,983
2,645

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CARE VENEZUELA

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

1. ACCOUNTING POLICIES

Company and charitable status

Care Venezuela, a registered charity, incorporated in England and Wales. The charity was founded on 29 April 2021 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.

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.

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 frompeople(inc.gift aid)
Donations from companies
Donated medical supplies and equipment
Donated professional services
Total		 Year ended
31December
2021
£
Year ended
31December
2022
£
2,847
3,854
(-)
(241)
(-)
(-)
(-)
(-)
2,847
4,095

4. GENERAL GRANTS

Group
-
-
Total		 Unrestricted
Funds
£
Restricted
Funds
£
Year ended
31
December
2021
£
Year ended
31
December
2022
£
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)

The charity did not receive any grants.

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CARE VENEZUELA

5. INCOME FROM CHARITABLE ACTIVITIES

Care Venezuela CharityShop
Parties and events (Summer and Christmas events)
Amazon Smile
Zumba
Others
Total		 Year ended
31
December
2021
£
Year ended
31
December
2022
£
(-)
374
3,422
10,179
(-)
25
(-)
72
(-)
(-)
3,715
10,650

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
£
Year ended
31
December
2022
£

(-)
(-)
(-)
(190)
(-)
(-)
(-)
(635)
(-)
(-)
(-)
(1,023)
(-)
(-)
(-)
(1,848)

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
£
Year ended
31
December
2022
£
2,864
(-)
2,864
6,785
129
(-)
129
114
326
(-)
326
123
150
(-)
150
253
3,469
(-)
3,469
3,469

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CARE VENEZUELA

8. OTHER EXPENSES

HER EXPENSES
Year ended Year ended
31 31
December December
2021 2022
£ £
Storage Unit Rental 362 401
Google Suit (Mail and Cloud services) 59 56
Bank and other related charges (-) (-)
Others (-) (-)
Total 420 457

9. DEBTORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

Charity
Trade debtors
Other debtors
Prepayments
Total
Amounts receivable from related parties
Total		 31
December
2021
£
31
December
2022
£
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)

10. CASH IN BANK AND IN HAND

Group
Cash in bank
Cash (in Notes)
Total		 31
December
2021
£
31
December
2022
£
1,806
2,502
178
142
1,984
2,645

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CARE VENEZUELA

11. CREDITORS – AMOUNT FALLING DUE WITHIN ONE YEAR

Ground and Charity
Trade creditors
Accruals
Other creditors
Total		 31
December
2021
£
31
December
2022
£
(-)
(-)
(-)
(-)
(-)
(-)
(-)
(-)

12. CHARITY FUNDS

Charity
Balance at 1 January 2022
Net movements during the year
Transfers
Balance at 31 December 2022		 Unrestricted
fund:
General
fund
£
Unrestricted
fund:
General
fund
£
Restricted
funds
£
Total
£
1,378
(-)
(-)
1,378
2,502
(-)
(-)
2,502
(-)
(-)
(-)
(-)
2,645
(-)
(-)
2,645

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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