World Apostolate of Fatima (England & Wales)
Trustees' report and financial statements for the year ended 31 March 2024 Charity number: 1198986
Barnett Ravenscroft Limited
Chartered Accountants 13 Portland Road Edgbaston Birmingham B16 9HN
World Apostolate of Fatima (England & Wales)
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 4 |
| Independent examiners' report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 13 |
World Apostolate of Fatima (England & Wales)
Legal and administrative information
| Charity number | 1198986 |
|---|---|
| Trustees | Jerry Rivera |
| Patrick Cunningham | |
| Oonagh M.E. Pittam | |
| Stephanie M. Hayward | |
| Jerlito B. Paler | |
| Donal A. Foley | |
| Independent Reviewer | Barnett Ravenscroft Limited |
| 13 Portland Road | |
| Edgbaston | |
| Birmingham | |
| B16 9HN |
Page 1
World Apostolate of Fatima (England & Wales)
Report of the Trustees for the year ended 31 March 2024
The charity was registered on 17 May 2022
The trustees have the pleasure in presenting their report and the financial statements for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2019) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 Februay 2016).
Structure, Governance and Management
Objectives and activities
To advance the Catholic Faith for the benefit of the public by the promotion of the authentic teaching of the Catholic Faith and in particular the message of Fatima by : Distrubuting literature, newsletters and DVD's and arranging talks and visits to Cathedrals and Churches that promote the message of our Lady of Fatima, encouraging personal and shared prayers and devotions and operating home rosary groups and organising an annual pilgrimage to Fatima.
Trustees and committee members
Their are six trustees of the charity who help and provide voluntary support to the running of the charity. The trustees are as follows :-
Jerry Rivera Patrick Cunningham Oonagh M.E. Pittam Stephanie M. Hayward Jerlito B. Paler Donal A. Foley
Organisation
The trustees are responsible for the management of the charity and an administrator who oversees the day to day running support when required by the committee members.
There are no administrative costs incurred by the trustees as all service and support is voluntary.
Risk
The trustees continually assess the risks to which the Charity is exposed, in particular those related to the staging of events and other fundraising initiatives. They are satisfied that there are systems in place to manage exposure to major risk.
Page 2
World Apostolate of Fatima (England & Wales)
Report of the Trustees
for the year ended 31 March 2024
Charitable Mission
Donations
Supporters make voluntary donations in various ways.
Acheivments and Performance
During the year the charity has continued to receive donations and support.
Financial Review
These accounts show a positive financial position, and in line with the trustee's charitable objectives.
The Trustees
The trustees who served the charity during the year are as follows:-
Jerry Rivera Patrick Cunningham Oonagh M.E. Pittam Stephanie M. Hayward Jerlito B. Paler Donal A. Foley
Page 3
World Apostolate of Fatima (England & Wales)
Report of the Trustees
for the year ended 31 March 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe methods and principles in the Charities SORP 2019 (FRS102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
B. Eley FCA is the appointed independent reviewer to the charity by the trustees.
This report was approved by the trustees on 17 September 2024 and signed on behalf of the board by
Jerry Rivera Trustee
Patrick Cunningham Trustee
Page 4
World Apostolate of Fatima (England & Wales)
Independent examiner's report to the Trustees on the unaudited financial statements of World Apostolate of Fatima (England & Wales).
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 6 to 13.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts, in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts 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 Commissioners under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving cause to believe that in any respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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2 the accounts do not accord with those records; or
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3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not the matter considered as part of an independent examination.
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 accounts to be reached.
........................................................... Ben Eley FCA 13 Portland Road Independent examiner Edgbaston For and behalf of Barnett Ravenscroft Limited Birmingham Chartered Accountants B16 9HN
17 September 2024
Page 5
World Apostolate of Fatima (England & Wales)
Statement of financial activities
For the year ended 31 March 2024
| Unrestricted funds Notes £ Income and endowments from: Donations 2 18,910 Interest received 3 184 Other incoming resources 4 39,846 Total income and endowments 58,940 Expenditure on: Governance costs and other expenses 5 47,182 Total charitable expenditure 47,182 Net movement in funds 11,758 Total funds brought forward 74,340 Total funds carried forward 86,098 |
2024 Total £ 18,910 184 39,846 58,940 47,182 47,182 11,758 74,340 86,098 |
2023 Total £ 86,103 8 25,657 |
|---|---|---|
| 111,768 | ||
| 37,428 | ||
| 37,428 | ||
| 74,340 - |
||
| 74,340 |
All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 6
World Apostolate of Fatima (England & Wales)
Balance sheet as at 31 March 2024
| Notes Fixed assets Tangible fixed assets 8 Current assets Bank and cash Creditors: amounts falling due within one year 9 Net current assets Net assets Funds 10 Unrestricted funds Total charity funds |
2024 £ £ 27,188 59,450 59,450 ) (540 58,910 86,098 160,437 160,437 |
2023 £ £ 33,985 41,105 41,105 ) (750 40,355 74,340 74,340 74,340 |
2023 £ £ 33,985 41,105 41,105 ) (750 40,355 74,340 74,340 74,340 |
|---|---|---|---|
| 74,340 | |||
| 74,340 | |||
| 74,340 |
The financial statements were approved and authorised for issue by the board on 17 September 2024 and signed on its behalf of the board of trustees by
Jerry Rivera Patrick Cunningham Trustee Trustee
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 7
World Apostolate of Fatima (England & Wales)
Notes to the financial statements for the year ended 31 March 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Summary of significant accounting policies
(a) General information and basis of preparation
World Apostolate of Fatima (England & Wales) is a unincorporated charity registered in England and Wales. The principle address is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principle activities are to raise funds and provide donations for both children's and aged charities within the West Midlands.
The charity consitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice 2019 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) the Charities Act 2011, and UK Generally Accepted Practice.
The charity has applied Update Bulletin 1 as published on 2 February 2017 and does not include a cashflow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The accounts are rounded to the nearest £1.
The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Funds
Unrestricted funds 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.
Page 8
World Apostolate of Fatima (England & Wales)
Notes to the financial statements
for the year ended 31 March 2024
1.2. Income recognition
All incoming resources are included in the statement of financial activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from the sale of charity goods is included in the year in which it is receivable.
1.3. Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
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Distributions to beneficiaries.
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Cost of raising funds includes SumUp Fees.
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Other expenditure represents those items not falling into the categories above.
1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Motor vehicles
- 20% straight line
1.5. Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
1.6. Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Page 9
World Apostolate of Fatima (England & Wales)
Notes to the financial statements
for the year ended 31 March 2024
1.7. Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 5 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
1.8. Going Concern
The financial statements have been prepared on a going concern basis as trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income amd expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. Income from donations
| 2. Income from donations |
||
|---|---|---|
| Donations 3. Investment income and bank interest received Bank interest received 4. Other incoming resources Sales of merchandiise Pilgrimage fees AGM Fees Concert Tickets |
2024 £ 18,910 2024 £ 184 2024 Total £ 14,861 19,230 3,375 2,380 39,846 |
2023 £ 86,103 |
| 2023 £ 8 |
||
| 2023 Total £ 12,277 9,922 3,458 - |
||
| 25,657 |
Page 10
World Apostolate of Fatima (England & Wales)
Notes to the financial statements
for the year ended 31 March 2024
5. Governance costs and other expenses
| Goods purchased for resale Travel expenses AGM cost Pilgrimage costs Fundraising concert expenses Overseas travel Printing, Stationery and postage Internet and computer expenses Social media fees Accountancy fees Sundry expenses Honoraria Bank charges Depreciation |
2024 Total £ 5,516 4,761 4,657 14,787 1,455 - 4,208 2,353 1,000 510 988 150 - 6,797 47,182 |
2023 Total £ 6,603 3,676 4,784 16,467 - 881 2,906 438 - 750 898 - 25 - |
|---|---|---|
| 37,428 |
6. Independent examiners remuneration
The independent examiners remuneration amounts to an independent examiners fee of £540.
7. Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year
The trustees did not have any expenses reimbursed during the year
Page 11
World Apostolate of Fatima (England & Wales)
Notes to the financial statements
for the year ended 31 March 2024
| 8. Tangible fixed assets Cost At 1 April 2023 and At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 9. Creditors: amounts falling due within one year Accruals and deferred income 10. Fund Reconciliation Unrestricted funds Unrestricted funds Unrestricted funds |
At 2023 £ 74,340 2022 £ - |
Motor vehicles £ 33,985 - 6,797 6,797 27,188 33,985 2024 £ 540 Income Expenditure £ £ 58,940 ) (47,182 Income Expenditure £ £ 111,768 ) (37,428 |
Total £ 33,985 - 6,797 6,797 27,188 33,985 2023 £ 750 At 2024 £ 86,098 2023 £ 74,340 |
Total £ 33,985 - 6,797 6,797 27,188 33,985 2023 £ 750 At 2024 £ 86,098 2023 £ 74,340 |
|---|---|---|---|---|
| 2023 £ 74,340 |
Purposes of unrestricted funds
To promote the message of Our Lady of Fatima.
Page 12
World Apostolate of Fatima (England & Wales)
Notes to the financial statements
for the year ended 31 March 2024
| 11. Analysis of net assets between funds Unrestricted funds £ Fund balances at 31 March 2024 as represented by: Tangible fixed assets 27,188 Cash and current investments 59,450 Other current assets/ liabilities ) (540 Cash deposit accounts - 86,098 Tangible fixed assets 33,985 Cash and current investments 41,105 Other current assets/ liabilities ) (750 74,340 |
Total funds £ 27,188 59,450 ) (540 - 86,098 33,985 41,105 ) (750 74,340 |
|---|---|
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