Friends of Colombia for Social Aid
UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2020
Registered Charity Number 274778
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
| CONTENTS | PAGE |
|---|---|
| Report of the Trustees | 1 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
| The following page does not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
The Trustees present their report and independently examined financial statements for the year ended 31 December 2020.
Reference and Administrative Information
Charity Name: Friends of Colombia for Social Aid Charity Registration Number 274778 Registered address: 24 Langton Avenue London N20 9DA Patron The Baroness Hooper CMG Honorary President Luz Angela Sarmiento Trustees Mr Felipe Posada Chair Mrs Diana Franco Montoya Treasurer Resigned 17 September 2020 Mrs Amanda Ardila Mrs Clemencia Cardozo Wiese Ms Clemencia Corradine Mrs Helen Yaxley Mr Victor Garcia Rivera Treasurer Appointed 17 September 2020 Mrs Xihomara Paulina Zentner Appointed 17 September 2020
Independent Examiner
Jehangir Ghandhi
Bankers
HSBC The Peak, 333 Vauxhall Bridge Road London SW1V 1EJ
Email : info@focsa.org Website: www.focsa.org Phone : 0777 177 0883
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FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
Structure, Governance and Management
Governing Document
Friends of Colombia for Social Aid (FOCSA) is constituted as a charitable Trust. The Trust was established in 1977 under a Trust Deed (as amended) which established the objects and powers of the charitable Trust.
Mission
Our mission is to help to improve the lives of the most disadvantaged children in Colombia. We fulfill our mission by donating medical, educational and other vital equipment to hospitals and specialist institutions that treat these children and improve the quality of their lives.
Recruitment and Appointment of Trustees
Mrs Diana Franco Montoya resigned on 17[th] September 2020. Mr Victor Garcia Rivera was appointed on 17[th] September 2020, and Mrs Xihomara Paulina Zentner was appointed on 17[th] September 2020. All other members of the Board of Trustees have served throughout the year.
Organisational Structure
The Board of Trustees meets on a quarterly basis and is responsible for the strategic direction and policy of the charity. A scheme of delegation is in place and the day to day responsibility for the charitable activities lies with an Executive Committee of volunteers. The President of the charity sits on both the Board of Trustees and the Executive Committee.
Objectives and Activities
In planning our objectives each year we have regard to the Charities Commission general guidance on public benefit.
Principal Funding Sources
Our main sources of Funding are the profits from organising Fundraising Events, unrestricted donations, and restricted donations /grants for specific projects.
Grant Making Policy
The charity provides grants to FOCSA Bogota, for the purchase and donation of medical equipment in Colombia. All charitable grants are approved by the Board of Trustees.
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FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
Investment Policy
Aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent on the charitable objects in the short term so there are few funds available for long term investment. Having considered possible options the Trustees decided to place surplus funds into a call deposit account with the CCLA Charities Deposit Fund.
Reserve Policy
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. As the charity is run entirely by volunteers, and owns no property, the risks to the long term financial sustainability of the charity are small. It has established a policy whereby the minimum level of unrestricted reserves should be approximately eq uivalent to the cost of organising the charity’s m ost expensive fundraising event.
Trustees are confident that at this level they would be able to continue the current activities of the charity. The charity ’s most expensive event is the Spring Fiesta. Due to the COVID pandemic this event was not held during 2020, but the cost of holding the Spring Fiesta is believed to be in the region of £40,000. The present level of unrestricted reserves available to the charity of £52,230 therefore falls comfortably above the target level.
Financial Review
The year ended 31 December 2020 was a financially challenging one for the charity. Our major Fundraising events the Spring Fiesta, Royal Parks Run and Christmas Concert were all cancelled due to the COVID pandemic, and some irrecoverable costs were incurred due to the cancellations, but the charity was able to raise funds via Special Appeals and individual sponsored events, the success of which meant that FOCSA was still able to make several vital equipment donations during the year.
Plans for Future Periods
COVID 19
Sadly the plans for future periods are currently severely impacted by the measures put in place in order to manage the current COVID-19 pandemic. In particular the main fundraising event, the Spring Fiesta, has been postponed for a second year, but the Trustees are confident that the charity has sufficient funds to survive this period.
Responsibilities of the Trustees
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).
Charity law 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 incoming
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FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
resources and application of resources. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (Statement of Recommended Practice);
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS102- effective 1 January 2015)
Approved by the Trustees on 6[th] June 2021 and signed on their behalf by:-
___ ___
Mr Felipe Posada Mr Victor Garcia Rivera Chair Treasurer
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INDEPENDENT EXAMINER ’ S REPORT TO THE MEMBERS OF FRIENDS OF COLOMBIA FOR SOCIAL AID - YEAR ENDED 31 DECEMBER 2020
I report to the trustees on my examination of the accounts for Friends of Colombia for Social Aid (“the charity”) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the chari ty’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not comply with these records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of the 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 a 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.
Signed: ………………………………………. Date:………………………………………………… Name: Mr Jehangir Ghandhi
Address: North Villa, Vale of Health, London NW3 1AX
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FRIENDS OF COLOMBIA FOR SOCIAL AID STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT - YEAR ENDED 31 DECEMBER 2020
_____________
| Unrestricted Funds 2020 Restricted Funds 2020 Note £ £ INCOMING RESOURCES Income from: Raising Funds Donations 2 3 - 3,998 9,930 26,603 Investment Income 4 83 _ -_ _____ TOTAL INCOMING RESOURCES 4,081 __ 36,533 __ RESOURCES EXPENDED Expenditure on: Raising funds 5 1,900 - Charitable activities 6 15,683 28,081 __ ____ TOTAL RESOURCES EXPENDED 17,583 _ 28,081 _ NET INCOME/ (DEFICIT) FOR THE YEAR (13,502) 8,452 TOTAL FUNDS BROUGHT FORWARD 65,732 1,707 ______ ______ TOTAL FUNDS CARRIED FORWARD 52,230 ______ 10,159 ______ |
Total Funds 2020 Total Funds 2019 £ £ 9,930 30,601 34,612 18,211 83 _ _376 _ 40,614 __ 53,199 _ 1,900 10,700_ 43,764 65,178 ___ _ 45,664 _ 75,878_ _ (5,050) (22,679) 67,439 90,118 ______ _ 62,389 ______ 67,439 ______ |
|---|---|
| _ |
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FRIENDS OF COLOMBIA FOR SOCIAL AID BALANCE SHEET – YEAR ENDED 31 DECEMBER 2020 CHARITY REGISTRATION NUMBER 274778
_____________
| Note CURRENT ASSETS Debtors 7 Cash at bank 8 _ CREDITORS: Amounts falling due within one year 9 _ NET ASSETS FUNDS Restricted Unrestricted TOTAL FUNDS 10 |
2020 £ 8,128 54,261 ______ 62,389 - _ 62,389 10,159 52,230 62,389 |
2019 £ 7,541 62,234 _ _69,775 2,336 _ _67,439 1,707 65,732 67,439 |
|---|---|---|
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
General information and basis of accounting
These accounts have been prepared on the basis of historic cost in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP FRS 102), effective 1 January 2015, and the 2011 Charities Act and applicable UK Accounting Standards and. The principal accounting policies adopted in the preparation of the financial statements are set out below.
The charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Incoming Resources
Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
the Trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and Donations
Grants and donations are included in the SoFA once they have been received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when received.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Debtors
Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
_____________
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT on expenses is charged against the category of resources expended for which it was incurred.
Fund accounting
-
Unrestricted Funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
-
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
2. RAISING FUNDS
| RAISING FUNDS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds |
|
| Funds 2020 | Funds 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Tennis Event | - | - | - | 15,111 |
| Spring Fiesta | - | - | - | - |
| Christmas Concert | - | - | - | 6,262 |
| Walk, run or Cycle | - | 7,916 | 7,916 | 13,239 |
| 500,000 Steps | - | 2,014 | 2,014 | - |
| __ | ___ | ___ | ____ | |
| - | 9,930 | 9,930 | 34,612 | |
| ============ | ============= | ============= | ============ |
The income from raising funds for 2020 was £9,930 (2019 £34,612) of which £0 (2019 £21,373) was unrestricted and £9,930 (2018 £13,240) was restricted.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
_____________
3. DONATIONS
| DONATIONS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds |
Total Funds | |
| Funds | Funds | |||
| 2020 | 2020 | 2020 |
2019 | |
| £ | £ | £ | £ | |
| COVID Appeal | - | 20,013 | 20,013 |
- |
| Christmas Appeal | - | 5,900 | 5,900 |
- |
| Tennis Event Appeal | - | - | - |
9,295 |
| San Andres & | ||||
| Providencia Appeal | - | 690 | 690 |
- |
| Concert Donations | - | - | - |
1,600 |
| Maria’s cake sale | - | - | - |
1,061 |
| ALAF | - | - | - | 2,500 |
| Other Donations | 3,998 | - | 3,998 |
3,755 |
| ---------------- | ---------------- | ----------------- | --------------- | |
| 3,998 | 26,603 | 30,601 |
18,211 | |
| ========== | =========== | =========== | ========= |
Income from donations for 2020 was £30,601 (2019: £18,211) of which £26,603 (2019: £12,686) was restricted and £3,998 (2019 £5,525) was unrestricted.
4. INVESTMENT INCOME
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Bank Interest | ||||
| Receivable | 83 | - | 83 | 376 |
| ========== | ========== | =========== | =========== |
The income from investments for 2020 and 2019 was all unrestricted.
5. COST OF RAISING FUNDS
| Unrestricted | Restricted | Total Funds |
Total Funds |
Total Funds | |
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2020 | 2020 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Tennis Event | - | - | - | 6,907 | |
| Spring Fiesta 2020 | 1,900 | - | 1,900 | 1,669 | |
| Running Events | - | - | - | 2,124 | |
| --------------- | --------------- | --------------- | -------------- | ||
| 1,900 | - | 1,900 | 10,700 | ||
| ========== | ========== | ========== | ========== |
The expenditure on raising funds for 2020 was £1,900 (2019: £10,700) of which £0 (2019: £2,124) was restricted and £1,900 (2019 £8,576) was unrestricted.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
6. COST OF GENERATING CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Medical Equipment | 13,225 | 28,081 | 41,306 | 63,559 |
| Office Expenses | 1,658 | - | 1,658 | 1,579 |
| FOCSA Bogota | ||||
| expenses contribution | 800 | - | 800 | - |
| ----------------- | ----------------- | ----------------- | ------------------ | |
| 15,683 | 28,081 | 43,764 | 65,178 | |
| =========== | =========== | =========== | =========== |
Expenditure on charitable activities was £43,764 (2019: £65,178) of which £15,683 was unrestricted (2019: £39,224) and £28,081 was restricted (2019: £25,954).
No Trustees received any remuneration during the year (2019: NIL).
No Trustees were reimbursed for any out of pocket expenses during the year (2019: NIL).
There have been no related party transactions during the year (2019: none).
7. DEBTORS
| Prepayments Other debtors CASH AT BANK HSBC Treasurer’s Account CCLA Deposit Account |
2020 £ 1,680 6,448 ______ 8,128 ========= 2020 £ 12,297 41,964 _ 54,261 _ |
2019 £ 6,860 681 _ _7,541 ========= 2019 £ 20,352 41,882 ___ 62,234 ___ |
|---|---|---|
8. CASH AT BANK
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020 _____________
9. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accrued Expenses | - | 489 |
| Other Creditors | - | 1,847 |
| _______ | __ | |
| - | 2,336 | |
| =========== | =========== |
10. FUNDS
| 0. FUNDS | ||||
|---|---|---|---|---|
| Movement in resources | ||||
| Balance at 1 | Incoming | Outgoing | Balance at 31 | |
| January 2020 | December 2020 | |||
| £ | £ | £ | £ | |
| Restricted Funds | ||||
| Tennis Event | 1,489 | - | - | 1,489 |
| ALAF | 218 | - | - | 218 |
| COVID Appeal 2020 | - | 20,013 | (20,013) | - |
| Christmas Appeal 2020 | - | 5,900 | (5,124) | 776 |
| Run walk or cycle | - | 7,916 | (2,944) | 4,972 |
| San Andres & Providencia | - | 690 | - | 690 |
| 500,000 Steps | 2,014 | - | 2,014 | |
| ______ | ______ | ______ | ______ | |
| Total Restricted Funds | 1,707 | 36,533 | (28,081) | 10,159 |
| Unrestricted Funds | 65,732 | 4,081 | (17,583) | 52,230 |
| 67,439 | 40,614 | (45,664) | 62,389 |
PREVIOUS YEAR FUNDS
| Restricted Funds Tennis Event Special Appeal 2016 ALAF Mocoa Appeal Royal Parks Run Cake Bake Total Restricted Funds Unrestricted Funds |
Movement in resources Balance at 1 January 2019 Incoming Outgoing Balance at 31 December 2019 £ £ £ £ - 9,125 (7,636) 1,489 1,230 - (1,230) - - 2,500 (2,282) 218 2,630 - (2,630) - - 13,239 (13,239) - - 1,061 (1,061) - ______ ______ ______ ______ 3,860 25,925 (28,078) 1,707 86,258 27,274 (47,800) 65,732 |
|---|---|
| 90,118 53,199 (75,878) 67,439 |
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020 _____________
The following page does not form part of the statutory financial statements which are the subject of the independent examiner's report on page 4 .
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FRIENDS OF COLOMBIA FOR SOCIAL AID DETAILED STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 31 DECEMBER 2020
| REVENUE (LESS ASSOCIATED EXPENSES) Tennis Event 2019 COVID Appeal 2020 Christmas Appeal 2020 San Andres & Providencia Appeal 2020 Special Appeal 2019 Christmas Concert 2019 Running Events Other Donations Bank Interest TOTAL REVENUE EXPENDITURE Equipment for Hospitals Spring Fiesta Expenses (event cancelled due to COVID pandemic) IT Platform-related Subscriptions (Justgiving, Zoom, Website domain) Donation towards FOCSA Bogota Admin Insurance Bank Charges FOCSA London Admin Expenses (non-IT) TOTAL EXPENDITURE NET REVENUE/(DEFICIT) FOR THE YEAR EQUIPMENT DONATIONS 2020 PPE for 13 Medical Institutions Hogar Santa Rita Clothes, bedding & milk for children Fundacion Pro Sierra Nevada de Santa Marta Vicariato Apostolico de Guapi Fundacion FEL Sonrisas Especiales TOTAL EQUIPMENT DONATIONS |
- |
2020 £ - 20,013 5,900 690 - - 9,930 3,998 83 _ 40,614 _______ 41,306 1,900 966 800 434 157 101 -------------- 45,664 ________ (5,050) _31,075 2,007 5,124 2,007 937 156 __ 41,306 |
2019 £ 8,374 - 9,124 6,194 11,115 7,316 376 _ 42,299_ ____ 63,599 - 939 - 374 116 150 --------------- 65,178 ___ (22,679) Funds Raised from:- COVID 19 Appeal & Unrestricted Funds Unrestricted Funds Christmas Appeal Run, walk or cycle Run, walk or cycle Unrestricted Funds |
|---|---|---|---|
| ___ | |||
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Friends of Colombia for Social Aid
UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2020
Registered Charity Number 274778
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
| CONTENTS | PAGE |
|---|---|
| Report of the Trustees | 1 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
| The following page does not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
The Trustees present their report and independently examined financial statements for the year ended 31 December 2020.
Reference and Administrative Information
Charity Name: Friends of Colombia for Social Aid Charity Registration Number 274778 Registered address: 24 Langton Avenue London N20 9DA Patron The Baroness Hooper CMG Honorary President Luz Angela Sarmiento Trustees Mr Felipe Posada Chair Mrs Diana Franco Montoya Treasurer Resigned 17 September 2020 Mrs Amanda Ardila Mrs Clemencia Cardozo Wiese Ms Clemencia Corradine Mrs Helen Yaxley Mr Victor Garcia Rivera Treasurer Appointed 17 September 2020 Mrs Xihomara Paulina Zentner Appointed 17 September 2020
Independent Examiner
Jehangir Ghandhi
Bankers
HSBC The Peak, 333 Vauxhall Bridge Road London SW1V 1EJ
Email : info@focsa.org Website: www.focsa.org Phone : 0777 177 0883
- 1 -
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
Structure, Governance and Management
Governing Document
Friends of Colombia for Social Aid (FOCSA) is constituted as a charitable Trust. The Trust was established in 1977 under a Trust Deed (as amended) which established the objects and powers of the charitable Trust.
Mission
Our mission is to help to improve the lives of the most disadvantaged children in Colombia. We fulfill our mission by donating medical, educational and other vital equipment to hospitals and specialist institutions that treat these children and improve the quality of their lives.
Recruitment and Appointment of Trustees
Mrs Diana Franco Montoya resigned on 17[th] September 2020. Mr Victor Garcia Rivera was appointed on 17[th] September 2020, and Mrs Xihomara Paulina Zentner was appointed on 17[th] September 2020. All other members of the Board of Trustees have served throughout the year.
Organisational Structure
The Board of Trustees meets on a quarterly basis and is responsible for the strategic direction and policy of the charity. A scheme of delegation is in place and the day to day responsibility for the charitable activities lies with an Executive Committee of volunteers. The President of the charity sits on both the Board of Trustees and the Executive Committee.
Objectives and Activities
In planning our objectives each year we have regard to the Charities Commission general guidance on public benefit.
Principal Funding Sources
Our main sources of Funding are the profits from organising Fundraising Events, unrestricted donations, and restricted donations /grants for specific projects.
Grant Making Policy
The charity provides grants to FOCSA Bogota, for the purchase and donation of medical equipment in Colombia. All charitable grants are approved by the Board of Trustees.
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FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
Investment Policy
Aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent on the charitable objects in the short term so there are few funds available for long term investment. Having considered possible options the Trustees decided to place surplus funds into a call deposit account with the CCLA Charities Deposit Fund.
Reserve Policy
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. As the charity is run entirely by volunteers, and owns no property, the risks to the long term financial sustainability of the charity are small. It has established a policy whereby the minimum level of unrestricted reserves should be approximately eq uivalent to the cost of organising the charity’s m ost expensive fundraising event.
Trustees are confident that at this level they would be able to continue the current activities of the charity. The charity ’s most expensive event is the Spring Fiesta. Due to the COVID pandemic this event was not held during 2020, but the cost of holding the Spring Fiesta is believed to be in the region of £40,000. The present level of unrestricted reserves available to the charity of £52,230 therefore falls comfortably above the target level.
Financial Review
The year ended 31 December 2020 was a financially challenging one for the charity. Our major Fundraising events the Spring Fiesta, Royal Parks Run and Christmas Concert were all cancelled due to the COVID pandemic, and some irrecoverable costs were incurred due to the cancellations, but the charity was able to raise funds via Special Appeals and individual sponsored events, the success of which meant that FOCSA was still able to make several vital equipment donations during the year.
Plans for Future Periods
COVID 19
Sadly the plans for future periods are currently severely impacted by the measures put in place in order to manage the current COVID-19 pandemic. In particular the main fundraising event, the Spring Fiesta, has been postponed for a second year, but the Trustees are confident that the charity has sufficient funds to survive this period.
Responsibilities of the Trustees
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).
Charity law 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 incoming
- 3 -
FRIENDS OF COLOMBIA FOR SOCIAL AID FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2020
resources and application of resources. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (Statement of Recommended Practice);
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS102- effective 1 January 2015)
Approved by the Trustees on 6[th] June 2021 and signed on their behalf by:-
___ ___
Mr Felipe Posada Mr Victor Garcia Rivera Chair Treasurer
- 4 -
INDEPENDENT EXAMINER ’ S REPORT TO THE MEMBERS OF FRIENDS OF COLOMBIA FOR SOCIAL AID - YEAR ENDED 31 DECEMBER 2020
I report to the trustees on my examination of the accounts for Friends of Colombia for Social Aid (“the charity”) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the chari ty’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not comply with these records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of the 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 a 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.
Signed: ………………………………………. Date:………………………………………………… Name: Mr Jehangir Ghandhi
Address: North Villa, Vale of Health, London NW3 1AX
- 5 -
FRIENDS OF COLOMBIA FOR SOCIAL AID STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT - YEAR ENDED 31 DECEMBER 2020
_____________
| Unrestricted Funds 2020 Restricted Funds 2020 Note £ £ INCOMING RESOURCES Income from: Raising Funds Donations 2 3 - 3,998 9,930 26,603 Investment Income 4 83 _ -_ _____ TOTAL INCOMING RESOURCES 4,081 __ 36,533 __ RESOURCES EXPENDED Expenditure on: Raising funds 5 1,900 - Charitable activities 6 15,683 28,081 __ ____ TOTAL RESOURCES EXPENDED 17,583 _ 28,081 _ NET INCOME/ (DEFICIT) FOR THE YEAR (13,502) 8,452 TOTAL FUNDS BROUGHT FORWARD 65,732 1,707 ______ ______ TOTAL FUNDS CARRIED FORWARD 52,230 ______ 10,159 ______ |
Total Funds 2020 Total Funds 2019 £ £ 9,930 30,601 34,612 18,211 83 _ _376 _ 40,614 __ 53,199 _ 1,900 10,700_ 43,764 65,178 ___ _ 45,664 _ 75,878_ _ (5,050) (22,679) 67,439 90,118 ______ _ 62,389 ______ 67,439 ______ |
|---|---|
| _ |
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FRIENDS OF COLOMBIA FOR SOCIAL AID BALANCE SHEET – YEAR ENDED 31 DECEMBER 2020 CHARITY REGISTRATION NUMBER 274778
_____________
| Note CURRENT ASSETS Debtors 7 Cash at bank 8 _ CREDITORS: Amounts falling due within one year 9 _ NET ASSETS FUNDS Restricted Unrestricted TOTAL FUNDS 10 |
2020 £ 8,128 54,261 ______ 62,389 - _ 62,389 10,159 52,230 62,389 |
2019 £ 7,541 62,234 _ _69,775 2,336 _ _67,439 1,707 65,732 67,439 |
|---|---|---|
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
General information and basis of accounting
These accounts have been prepared on the basis of historic cost in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP FRS 102), effective 1 January 2015, and the 2011 Charities Act and applicable UK Accounting Standards and. The principal accounting policies adopted in the preparation of the financial statements are set out below.
The charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Incoming Resources
Recognition of incoming resources
These are included in the Statement of Financial Activities (SoFA) when:
-
the charity becomes entitled to the resources;
-
the Trustees are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability.
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and Donations
Grants and donations are included in the SoFA once they have been received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when received.
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Debtors
Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
_____________
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT on expenses is charged against the category of resources expended for which it was incurred.
Fund accounting
-
Unrestricted Funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
-
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
2. RAISING FUNDS
| RAISING FUNDS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds |
|
| Funds 2020 | Funds 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Tennis Event | - | - | - | 15,111 |
| Spring Fiesta | - | - | - | - |
| Christmas Concert | - | - | - | 6,262 |
| Walk, run or Cycle | - | 7,916 | 7,916 | 13,239 |
| 500,000 Steps | - | 2,014 | 2,014 | - |
| __ | ___ | ___ | ____ | |
| - | 9,930 | 9,930 | 34,612 | |
| ============ | ============= | ============= | ============ |
The income from raising funds for 2020 was £9,930 (2019 £34,612) of which £0 (2019 £21,373) was unrestricted and £9,930 (2018 £13,240) was restricted.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
_____________
3. DONATIONS
| DONATIONS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds |
Total Funds | |
| Funds | Funds | |||
| 2020 | 2020 | 2020 |
2019 | |
| £ | £ | £ | £ | |
| COVID Appeal | - | 20,013 | 20,013 |
- |
| Christmas Appeal | - | 5,900 | 5,900 |
- |
| Tennis Event Appeal | - | - | - |
9,295 |
| San Andres & | ||||
| Providencia Appeal | - | 690 | 690 |
- |
| Concert Donations | - | - | - |
1,600 |
| Maria’s cake sale | - | - | - |
1,061 |
| ALAF | - | - | - | 2,500 |
| Other Donations | 3,998 | - | 3,998 |
3,755 |
| ---------------- | ---------------- | ----------------- | --------------- | |
| 3,998 | 26,603 | 30,601 |
18,211 | |
| ========== | =========== | =========== | ========= |
Income from donations for 2020 was £30,601 (2019: £18,211) of which £26,603 (2019: £12,686) was restricted and £3,998 (2019 £5,525) was unrestricted.
4. INVESTMENT INCOME
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Bank Interest | ||||
| Receivable | 83 | - | 83 | 376 |
| ========== | ========== | =========== | =========== |
The income from investments for 2020 and 2019 was all unrestricted.
5. COST OF RAISING FUNDS
| Unrestricted | Restricted | Total Funds |
Total Funds |
Total Funds | |
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2020 | 2020 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Tennis Event | - | - | - | 6,907 | |
| Spring Fiesta 2020 | 1,900 | - | 1,900 | 1,669 | |
| Running Events | - | - | - | 2,124 | |
| --------------- | --------------- | --------------- | -------------- | ||
| 1,900 | - | 1,900 | 10,700 | ||
| ========== | ========== | ========== | ========== |
The expenditure on raising funds for 2020 was £1,900 (2019: £10,700) of which £0 (2019: £2,124) was restricted and £1,900 (2019 £8,576) was unrestricted.
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020
6. COST OF GENERATING CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Medical Equipment | 13,225 | 28,081 | 41,306 | 63,559 |
| Office Expenses | 1,658 | - | 1,658 | 1,579 |
| FOCSA Bogota | ||||
| expenses contribution | 800 | - | 800 | - |
| ----------------- | ----------------- | ----------------- | ------------------ | |
| 15,683 | 28,081 | 43,764 | 65,178 | |
| =========== | =========== | =========== | =========== |
Expenditure on charitable activities was £43,764 (2019: £65,178) of which £15,683 was unrestricted (2019: £39,224) and £28,081 was restricted (2019: £25,954).
No Trustees received any remuneration during the year (2019: NIL).
No Trustees were reimbursed for any out of pocket expenses during the year (2019: NIL).
There have been no related party transactions during the year (2019: none).
7. DEBTORS
| Prepayments Other debtors CASH AT BANK HSBC Treasurer’s Account CCLA Deposit Account |
2020 £ 1,680 6,448 ______ 8,128 ========= 2020 £ 12,297 41,964 _ 54,261 _ |
2019 £ 6,860 681 _ _7,541 ========= 2019 £ 20,352 41,882 ___ 62,234 ___ |
|---|---|---|
8. CASH AT BANK
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020 _____________
9. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accrued Expenses | - | 489 |
| Other Creditors | - | 1,847 |
| _______ | __ | |
| - | 2,336 | |
| =========== | =========== |
10. FUNDS
| 0. FUNDS | ||||
|---|---|---|---|---|
| Movement in resources | ||||
| Balance at 1 | Incoming | Outgoing | Balance at 31 | |
| January 2020 | December 2020 | |||
| £ | £ | £ | £ | |
| Restricted Funds | ||||
| Tennis Event | 1,489 | - | - | 1,489 |
| ALAF | 218 | - | - | 218 |
| COVID Appeal 2020 | - | 20,013 | (20,013) | - |
| Christmas Appeal 2020 | - | 5,900 | (5,124) | 776 |
| Run walk or cycle | - | 7,916 | (2,944) | 4,972 |
| San Andres & Providencia | - | 690 | - | 690 |
| 500,000 Steps | 2,014 | - | 2,014 | |
| ______ | ______ | ______ | ______ | |
| Total Restricted Funds | 1,707 | 36,533 | (28,081) | 10,159 |
| Unrestricted Funds | 65,732 | 4,081 | (17,583) | 52,230 |
| 67,439 | 40,614 | (45,664) | 62,389 |
PREVIOUS YEAR FUNDS
| Restricted Funds Tennis Event Special Appeal 2016 ALAF Mocoa Appeal Royal Parks Run Cake Bake Total Restricted Funds Unrestricted Funds |
Movement in resources Balance at 1 January 2019 Incoming Outgoing Balance at 31 December 2019 £ £ £ £ - 9,125 (7,636) 1,489 1,230 - (1,230) - - 2,500 (2,282) 218 2,630 - (2,630) - - 13,239 (13,239) - - 1,061 (1,061) - ______ ______ ______ ______ 3,860 25,925 (28,078) 1,707 86,258 27,274 (47,800) 65,732 |
|---|---|
| 90,118 53,199 (75,878) 67,439 |
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FRIENDS OF COLOMBIA FOR SOCIAL AID NOTES TO THE FINANCIAL STATEMENTS – YEAR ENDED 31 DECEMBER 2020 _____________
The following page does not form part of the statutory financial statements which are the subject of the independent examiner's report on page 4 .
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FRIENDS OF COLOMBIA FOR SOCIAL AID DETAILED STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 31 DECEMBER 2020
| REVENUE (LESS ASSOCIATED EXPENSES) Tennis Event 2019 COVID Appeal 2020 Christmas Appeal 2020 San Andres & Providencia Appeal 2020 Special Appeal 2019 Christmas Concert 2019 Running Events Other Donations Bank Interest TOTAL REVENUE EXPENDITURE Equipment for Hospitals Spring Fiesta Expenses (event cancelled due to COVID pandemic) IT Platform-related Subscriptions (Justgiving, Zoom, Website domain) Donation towards FOCSA Bogota Admin Insurance Bank Charges FOCSA London Admin Expenses (non-IT) TOTAL EXPENDITURE NET REVENUE/(DEFICIT) FOR THE YEAR EQUIPMENT DONATIONS 2020 PPE for 13 Medical Institutions Hogar Santa Rita Clothes, bedding & milk for children Fundacion Pro Sierra Nevada de Santa Marta Vicariato Apostolico de Guapi Fundacion FEL Sonrisas Especiales TOTAL EQUIPMENT DONATIONS |
- |
2020 £ - 20,013 5,900 690 - - 9,930 3,998 83 _ 40,614 _______ 41,306 1,900 966 800 434 157 101 -------------- 45,664 ________ (5,050) _31,075 2,007 5,124 2,007 937 156 __ 41,306 |
2019 £ 8,374 - 9,124 6,194 11,115 7,316 376 _ 42,299_ ____ 63,599 - 939 - 374 116 150 --------------- 65,178 ___ (22,679) Funds Raised from:- COVID 19 Appeal & Unrestricted Funds Unrestricted Funds Christmas Appeal Run, walk or cycle Run, walk or cycle Unrestricted Funds |
|---|---|---|---|
| ___ | |||
- 14 -
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF FRIENDS OF COLOMBIA FOR SOCIAL AID - YEAR ENDED 31 DECEMBER 2020 I report to the trustees on my examination of the accounts for Friends of Colombia for Social Aid {"the charity-) for the year ended 31 Dember 2020. Responsibilities and basis of report As the charity trustees of the charity you are responsible for the preparation of the accounts in accordan wth the quIrernents of the Charities Act 2011 (llhe 2011 Act"). I report in respect of my examination of the charty's accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charty Commission under section 145{5}{bJ of the 2011 Act. Independent examIneS ststsment I have completed my examination. I confirm that no material matters have come to my attention in connection with the examinats'on giving me cause to believe that in any material respect- accounting records vRre not kept in respect of the charity as required by section 130 of the 2011 Act: or the accounts do not comply with these records,. or the accounts do not comply with the applicable requirements concerning the fom and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a "true and fair Vie which is not a matter considered as part of an independent examination. I have no cOnmS 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. 2.4..... /.7... 2011............. Signed.. Dale". Name. Mr Jehangir Ghandhi Address North Villa. Vale of Heaf(h. London NW3 1AX