Charity number.. 271784 THE ATD FOURTH WORLD TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RPGCC Chartered Accountants & Slatulory Auditor 40 GraChurCh Streel London EC3V OBT
THE ATD FOURTH WORLD TRUST CONTENTS Page Reference and administrative detai15 of the Charity. ils Tiuslees and advisers Trustees, report Trustees. responsibilities statement Independent examineffs report Statement of financial activities Balance sheet Notes to the financial statements 10-23
THE ATD FOURTH WORLD TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITf, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees N Collins K Evans C McDowell P Daniels, Chair Charity registered number 271784 Principal offi 48 Addington Square London SE5 7LB Accountants RPG Crouch Chapman LLP 40 Gracechurch Street London EC3V OBT Bankers HSBC Bank PIC 23 Denmark Hill Carnberwell Green London SE5 8RP Independent Examiner Jeremy Tyrrell FCA 40 Gracechurch Street London EC3V OBT Page I
THE ATD FOURTH WORLD TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report and financial statements for the 12 months ended 31 st December 2023. The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the sccounls and comply with the Charity's Irusl deeds, the Charities Act 2011 and Accounting and Reporting by Charities: Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland published on 16 July 2014. The Trustees confiim that the Charity Commission's general guidance on public benefit has been considered in relation to the objecbves of the Charity. The report below sets out those objectives and describes how they have been met in the current year. In particular, the charity has provided significant relief from poverty lo families in the UK and overseas. Ob ectives and aGtivities Policies and objectives The Trust's objective is to provide relief to families in need of recuperation and rehabilitation by reason of their poverty or sociall economic circumstances, both in the United Kingdom and countries overseas. The Trusl does not provide financial assistance to individuals. Its main activities are to employ, train and support core workers whom it contracts to other organisations working with si1$ar charitable objectives. The Trust also holds properties for use by such organisations. It owns the freehold of properties situated at 48 Addington Square, London, "Frimhurst. at Frimley Green in Surrey and "8raendam° at Thornhill in Scotland. In setting objectives and planning for activities. the Trustee5 have given due consideration lo general guidance published by the Charity Commisston relaling lo public benefit. including the guidan 'Public benefit.. running a charity {PB21'. Achievements and erformance Main achievements of the Charity The provision of the properties and personnel to other charities which work for relief from poverty continued Ihrough the year. Of note is the current negotiation with Ihe Lilias Graham Trust, the current tenants of Braendam House. over a new long-lerm lease. The objective is to provide the LGT with a lease suitable for applying for capital funding in Scotland to invest in the property. A working group lead by the ATD Fourth World Trust's chair has also been set up to investigate options for securing capital investment that can provide resources for the future renovation of 48 Addington Square. The Trust has supported 13 Gore workers during Ihe year, providing salaries, pension arrangements and generally attending to training and welfare needs so that they can work effectively with the charities to which they are seconded. During the year they have worked with charities in the UK, France, Belgium. Ireland, Mexico, and Madagascar. The Trust's work continues lo be supervised by its Trustees al regular Trust meetings and by reviewing reports and discussion with management. b. Fundraising activities and income generation The charity does not carry out any fundraising activities and income is mainly reIVed from grants, legacies and fee5. Any donations received are incidenlal. Page 2
THE ATD FOURTH WORLD TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OECEMBER 2023 Achievements and performance {continuedl c. Plans for the future The Trust intends to continue to hold the properties and to recruit 8nd support Core workers for the purpose of ils objectives. Financial review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. ReseNes policy The Trustees consider that sufficient, but not excessive, reserves are retained to meet the commitentS of the charity. the principal reserve being to cover the possible need for salary support and for future pensions for core workers, should grant income be reduced. Income and expenditure In 2023 incoming resources were £287,164 12022.. £268,344). Expenditure amounted to £234.049 12022-. £215,431). This resulted in net incoming resources of £53 11 S for the year12022= £S2,913). d. Principal risks and unrtaintieS The Trustees have considered the risks facing the organisation and are of the opinion that the Trust's principal financial risk is the failure lo obtain sufficient funding to enable it to continue to fulfil its objectives. This risk is being addiessed in a number of ways. The Trust ensures il maintains good relationships with its core funders. This includes ensuring all obligations are met, financial systems 8re suilable to ensure the funds received are properly secured, spent and recorded according to the instruction of the funders, the Slalement of Recornmended Practice and generally accepted accounling practices in the UK. The Trust is also conlinu811y seeking alternative sources of funding in order to diversify ils risk away from ils core funders. Other principal financial risks facing the Trust are addressed by insurance and procedures designed to ensure that the Trust is materially prolecled from financial and operational loss. Page 3
THE ATD FOURTH WORLD TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Structure overnance and mana ement a. Constitution The Twst is a regislered charity, number 271784. Thg Trust was established by its goveming document. the Deed of Trust dated 13th July 1976. b. Method5 of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. Organisalional structure and decision-making policies The Trustees who have served during the year were C. McDowell, P. Daniels, N. Collins and K. Evans. There have been no changes lo the Trustees since the year end. During the period the Trustees met foul times. The power of appointment rests with the Trustee body of the Charity. Approved by order of the members of the board of Trustees and signed on their behalf by= P Daniels Trustee Dale.. Loe Page 4
THE ATD FOURTH WORLD TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 310ECÈMBER 2023 The Trustees are responsible for preparing the Truslees. report and the financial statements in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting practi). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the 51ate of affair5 of the Charity and of its incoming resources and application of resources, including ils income and expenditure, for thal period. In preparing these financial stslements. the Trustees are required to= select suitable ac¢ounlin9 policies and then apply them consistently., observe the methods and principles of the Charities SORP {FRS 1021., make judgments and accounting estimates thal are reasonable and prudent; stale whether applicable UK Accounting Standards (FRS 1021 have been followed, subjecl to any rnaterial departures disclosed and explained in the financial statements-. prepare the financial statements on the going concern basis unless il is inappropri3le to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with r&ason2ble accuracy at any lime the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Chanty {Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguardin9 the assets of the Charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on ils behalf by.. P Daniels Date.. Page 5
THE ATD FOURTH WORLD TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examiner's rep¢)rt to the Trustees of The ATD Fourth World Tfust I'the Charity'} I report to the charity Truslees on my examination of the accounts of the Chariiy for the year ended 31 Decefnber 2023. Responsibilities and basis of report As the Trustees of the Chaiity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'l. I report in respect of my examination of the Charrty's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Direclions given by the Charity Commission under section 145(51(bl of the 2011 Act. Independent examirierfs stalement sin the Charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. l Gonfirm Ihal l am qualified to undertake the examination because l am a member of ICAEW. which Is one of the listed bodies. Your attention is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities- Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charit5es'. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. understand that this has been done order for the accounts to provlde a trtie and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my exarninalion. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounling records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with Ihose records; or the accounts do not comply wilh 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 fairf view which is not a matter considered as part of an independent examinalion. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper underslanding of the accounts to be reached. Page 6
THE ATD FOURTH WORLD TRUST INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2023 This report is made solely to the Charills Twstees, as a body, in accordance with Part 4 of the Charities IAccounls and Reports} Regulations 2008. My work has been undertaken SD that I might slate to the Charills Trustees those matters l am required lo state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accepl or assume responsibility to anyone olher than the Charity and the Charitys Trustees as a body. for my work or for this report. Signed.. Jeremy Tyrrell FCA 40 GrachUrch Street London EC3V OBT Page 7
THE ATD FOURTH WORLD TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDEQ 31 OECEMBER 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Incom• from: Donations and legacies Charitable activities Investments 117,450 145.714 24,000 141.450 145,714 151.420 116.557 367 Total Income 263,164 24,000 287,164 268,344 Expenditure on- Charitable activities 195.722 38,327 234,049 215,431 Total expendlturè 195.722 38.327 234.049 215,431 Net incom•l(exp8ndltur•l Transfers between funds 67,442 15821 {14,327) 582 53,115 52.913 14 Net movgment In funds 66,860 113,7451 53.115 52,913 Reconclliation of fund5: Total funds brought forward Net movement in funds 202,866 66,860 14,356 113,745} 217,222 53.115 164,309 52,913 Total funds carried fon¥ard 269,726 611 270,337 217.222 The Statement of finan¢ial activities includes all gains and losses recognised in the year. The notes on pages 10 to 23 form part ot Ihese financial stalementS. Page 8
THE ATD FOURTH WORLD TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Fixed assets Tangible assets 49.000 49.000 49.000 49.000 Current assets Debtors Cash at bank and in hand 12 38,550 185,217 27,043 147,517 223,767 174,560 Creditors-. amounts falling due within one year 13 {2.4301 {6.3381 Net current as8et3 221,337 168,222 Total net assets 270.337 217,222 Charlty funds Reslricled funds Unrestricted funds 14 611 269.726 14.356 202,866 14 Total funds 270,337 217,222 The financial slalements were approved and aulhori5ed for issue by the Trustees and signed on their behalf by- P D8nlels Trustee Dale.. The notes on pages 10 10 23 foim part of these financial slalements. Page g
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General information The ATD Fourth World Trust is a charitable trust registered in England and Wales. Its principal place of business is 48 Addinglon Square, London SE5 7LB. The principal actrvity of the Irusl continued lo be that of tackling inequality and plomoling social justice. Accounting policies 2.1 Basis of aration of financial statements The financial slalemenls have been prepared in a¢¢ordance with the Charities SORP IFRS 102} - Accounting and Reporting by Charilies.- Statement of Recommended Practice applicable lo charities preparing their accounts in acGordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2015}. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required tD provide a 'lrue and faif, view. This departure has involved following the Charities SORP (FRS 1021 published 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 ATD Fourth World Twsl meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated the relevant accounting policy. 2.2 Goin concern The Iruslees consider that there are no material uncertainbes 8bout the Irust's ability to continue as a going concern. There are no significant areas of adjustments or key assumptions that affect items in the a¢counls. With respect to the next reporting period, ending on 31 Decernber 2023, the m05t significant area of uncertainty that affect the carrying value of assets held by the trust is the ability to continue to raise donations. The properties shown in the accounls are provided lo another charity renl-free for as long as they continue, in the view of the Iruslees, to be used for purposes consistent with the trust's objectives. 2.3 Income All income is recognised On the Charity has entitlement lo the income, it18 probable that the income will be received and the amount of income receivable can be measured reliably. Income tsx recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 10
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2Q23 Accounting policies (continued) 2.4 Ex endilure Expenditure is recognised once there is a legal or constwclive obligation lo transfer economic benefit to a third party, It is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each acts'vily are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivity. Dire¢l costs attributable to a single activity are allocated directly lo that activity. Shared Costs which contribute lo more than one activity and support costs which are not attributab5e to a single adivity are apportioned between those activities on * basi5 consislenl with the use of resources. Cenlral staff costs are allocated on the basis of time spent, and depreciation charges alloealed on the portion of the asset's use. Expenditure on charitable aclivities is incuired on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Taxation The Charity is considered to pass the tests sel out in Paragraph 1 Schedule 6 ot the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxalion of Chargeable Gains Act 1992, to the extent that such income 01 gains are applied exclusively to charitable purposes. 2.6 Tan ible fixed assets and de reciation The only tangible fi'xed assets held by the Irusl are freehold properties. They were initially recognised al cost. No depreciation is provided on freehold buildings since in the opinion of the Iruslees the potential depreciation charge and accumulated depreciation on cost are immaterial in relation to the market value of the properties. 2.7 Debtors Trade and other debtors are recognised at the settlemenl amount after any trade dis¢ounl offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.8 Cash ot bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page1f
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (conlinuedl 2.9 Liabilities and rovisions Liabilitles are recognised when there is 8n obligation at the balan sheet dale as a result of a past event, il is probable that a transfei of economic benefit will be required in settlement, and the amount of the $elllernent can be estimated reliably. Liabilities are recognised at the amount that Ihe Charity antlClP81es il will pay to settle the debt or the amount it has received as advanced payments for the goods or services il musl provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effe¢l of the lime value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the statement of finan¢ial activities as a finance cost. 2.10Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financi81 insltuments are initially reGognised al transaction value and subsequently measured al their selllement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Cash Flow Slalement The finanual statements do not include a cash flow statement because the charity, as a small reporting entity. is exempt from the iequirements to prepare such a slalement. 2.12Pension$ The trust is a Participating Employer in a money purchase scheme. Costs incurred are charged as paid. 2.13Fund accountin General funds are unFestricled funds whith are available for use at the discietion of the Tru5tee5 In fvrtherance of the general objectives of the Charity and which have nol been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes lo the financial stslements. R&slri¢ted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of r8ising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is sel out in the notes to the finanual slalements. Investment income, gains and losses are allocated to the appropriate fund. Page 12
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Crtlical accountsng estimates and assumptions.. The Charity makes estimates and assumptions GOnrning the future. The resulting accounting estimates and assumplions will, by definition, seldom equal the related actual results. However. the trustees are of the opinion that there are no estimales and assumptions that have a significant risk of causing a material adjuslmenl to the carrying amounts of assets and liabilities within the next financial year. Income from donation5 and legacies restricted Restricted funds funds 2023 2023 Total funds 2023 Donations - ATD Foundation 117.450 24.000 141,450 restricted Restricted funds funds 2022 2022 Total funds 2022 Donations - ATD Foundation 131,420 20.000 151.420 Page 13
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charitable activities restricted funds 2023 Total funds 2023 Fees for Activities 145,714 145,714 Un- restricted funds 2022 Total funds 2022 Fees for Activities 116.557 116.557 Income from charitable aGtivilÉes represent5 fees received from associated charities ATD Fourth Wodd Limited and associated entities for the provision of staff in exchange for administrative assistance. Investment income Total fvnds 2023 Interest restricted funds 2022 Total funds 2022 Interest 367 367 Page 14
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 Analysis of expenditure on charitable activities Summa b fundl restricted Restncted funds lunds 2023 2023 Total 2023 Staff costs Wellbeing Property maintenance and repairs Cedar House Improvement Support Costs 185,528 185,528 2,090 1,299 38,327 6,805 1,299 38,327 6,805 195,722 38,327 234,049 restricted Reslricled funds funds 2022 2022 Total 2022 Staff costs Wellbeing Propety maintenance and repairs Cedar House Improvement Support Costs 196,282 1,737 5,100 196,282 1,737 5,100 6.255 6,057 6,255 6,057 209,176 6.255 215,431 Page 15
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 310ECEMBER 2023 Analysis of expenditure by activities Provision of core worker personnel 2023 Propety manage- ment Support costs Total funds 2023 2023 2023 Wages. salaries and pensions Wellbeing Freelancersl Subconlraclors Propety maintenance and repairs Cedar House improvements Support ¢osls 185.528 2,090 185.528 2,090 1.299 38,327 1,299 38.327 6,805 6.805 187,618 39.626 6,805 234,049 Provision of core worker personnel 2022 Propety manage- ment 2022 Support costs 2022 Total funds 2022 Wages. salaries and pensions Wellbeing Freelancersl Subcontractors Property maintenance and repairs Cedar House improvements Support costs 196.282 1.737 196.282 1,737 5,100 6,255 5,100 6,255 6,057 6.057 198,019 11,355 6.057 215,431 Page 16
THE ATO FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activities Iconlinuedl Analysis of support costs Total funds 2023 Actiwties 2023 Independent Examination Accountancy Bank Charges Insuran 1,638 100 2.356 2,711 1,638 100 2.356 2.711 6.805 6.805 Total funds 2022 Activities 2022 Independent Examination Accountancy Bank Charges Insuran 1.690 100 1.690 100 2.077 2,190 2,077 2.190 6.057 6,057 Staff costs 2023 2022 Wages and salaries Social security costs Contribution to defined conlribution pension schemes 148,888 4,031 32,609 149,584 4.750 41,948 185,528 196.282 The aveiage number of person5 employed by the Charity during the year was as follows.. 2023 2022 No. Employees io 10 Page 17
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Staff costs (continued) No employee recelved remuneration arnounling lo more than £60,000 in either year. Key managment is the tru51ees, who re1ve no remuneration. 10. Trustees, remuneration and expenses During the year. no Trustees received any remuneration or other benefits {2022 - £NIL}- Duting the yeai ended 31 December 2023. no Trustee expenses have tr*en inGurred12022 . £ NIL). 11. Tangible fixed assets Freehold property Cost or valLtalion Al 1 January 2023 49.000 Al 31 December 2023 49,000 Net book value At 31 December 2023 49,000 At 31 December 2022 49,000 In accordance with the SORP. the trustees have reviewed the market value of the properties and consider these lo be materially in excess of the value shown in the accounts. The Iruslees have nol wmmissioned a valuation of the freeh(Ad land and buildings since they do not consider this an appropriate use of resources. The buildings replacement insurance value is in the region of £8 million. The trustees consider il appropriate not to depreciate the properties as there is not considered to be any diminution in value. Page 18
THE ATO FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Debtors 2023 2022 Due within one Debtors ear 38,550 27,043 38,550 27,043 13. Creditors.. Amounts falling due within one year 2023 2022 Ac¢ruals and deferred income Other creditors 1,770 660 4.538 2.430 6,338 Page 19
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Statement of funds Slatemenl of funds - Current year Balance at 31 Balance at 1 January 2023 Transfers December inlloutl 2023 Income Expenditure Unrestricted funds Desi nated funds Employee Benefits Fund Building Fund 50.000 {2,0901 11.2991 2,090 45,697 50,000 79,398 35.000 50.000 35.000 13.3891 47.787 129,398 General funds General Fund 152,866 228,164 (192.333) (48,3691 140.328 Total Unrestricted funds 202,866 263.164 1195,7221 15821 269.726 Restricted funds Vista Alegre Cedar House Improvements 611 13,745 611 24,000 {38,327} 582 14,356 24,000 {38,3271 582 611 Total of funds 217,222 287,164 (234,0491 270,337 Page 20
T14E ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Statement of funds Iconlinuedl Employee Benefits Designated Fund This lund is maintained lo provide for the support of core workers. 11 has been used lo covei special contributions needed to maintain fulure pensions 2nd is lo be used in future for other such unexpected needs. Designated Buildlng Fund This fund represents monies earmarked for the maintenance and improvement of the ch8ritls properties and is to be used as and when needed for this purpose. £45,697, which was received for general needs in previous years, has been deSnated to ensure its use on particular bL¢iSdings. Vista Alegre Restrlcted Fund In 2015. the Trust raised £6,403 in donations from private individua15 in the UK towards the cost of a project In Peru which aims lo support an impoverished local community in the provision of a building in which ATO Cuarto Munde, an associate of the Trust, provides street libraries for the inhabitants. Duiing 2017, the Trust remitted to the Vista Alegre community £5,792. The balance of £611 is held by the Trust until requested by ATD Cuarto Munde. Cedar House Improvem9nt Restricted Fund Cedar House is part of the Frimhurst Family Home facility. It was decided that a complete rebuild of an old building would be major enhancement lo the facilities and services provided by the Trust. Page 21
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Slalement of funds {conlinuedl Statement of funds - prior year Balance at 31 Transfers December inloul 2022 Balance al 1 January 2022 Income Expenditure Unrestricted funds Desi naled funds Employee Benefits Fund Building Fund 44,325 11,7371 7.412 50,000 44.325 11,7371 7.412 50,000 General lunds General Fvn 119.373 248.344 {207.4391 (7,412) 152,866 Total Unreslricled funds 163,698 248,344 1209.1761 202,866 Reslricled funds Vista Alegre Cedar House Improvements 611 611 13.745 20,000 16,255> 611 20,000 16,2551 14,356 Total of funds 164,309 268,344 1215,431) 217,222 Page 22
THE ATD FOURTH WORLD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Analysis of net assets between funds Analysis of net assets between funds - current year Un- restricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets CreditOTS due within one year 49,000 223.156 {2,4301 49,000 223,767 12,4301 611 Total 269.726 611 270,337 Analysis of net assets between funds - prior year Un- reslrirted Reslricled funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 49,000 160,204 16,3381 49.000 174,560 16.3381 14,356 Total 202,866 14,356 217,222 16. Pensions During the year. the trust paid pensions contributions into a defined contribution pension scheme amounting to £32,609 {2022= £41,948}- Pension contributions are charged to the SOFA when paid. 17. Related party transactions Dsjring the year, there were no transa¢lions with related parties {2022- None). Page 23