Village Service Trust
Report and financial statements Year ended 31[st] March 2024
Charity No. 277111
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Report of the trustees for the year ended 31[st] March 2024
The trustees present their annual report and financial statements of the charity for the year ended 31[st] March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
Objectives and activities for the public benefit
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The object of the charity as expressed in its Deed of Trust is to apply the trust fund for the relief of poverty and sickness amongst the inhabitants of the villages of the deprived areas of the world. The trustees have decided to concentrate their efforts on projects in Tamil Nadu, south India, where their personal experience has shown that the work undertaken at these projects adequately and appropriately fulfils the objects of the charity.
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the trust’s aims and objectives, in planning future activities, and setting the grantmaking policy for the year.
The trust furthers its charitable purposes for the public benefit through its grant-making policy which aims to:
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Socially and economically empower disadvantaged and marginalised women
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Form and strengthen community based organisations of disadvantaged and marginalised women
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Reduce the spread of communicable diseases – HIV and Aids, leprosy and tuberculosis
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Improve the human rights of and livelihood standards of certain deprived people, particularly the Arunthathiyar community, and indigenous people.
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Secure the rights of, improve livelihoods of, and educational support to, children from marginalised communities and children affected by HIV and Aids.
During the year Village Service Trust funded the health and development work of a number of partner organisations in south India, principally in Theni District, a deprived area in Tamil Nadu. Most of these organisations work together in a network co-ordinated by Arogya Agam, VST’s chief partner. The main programme activities concern women’s rights, micro-enterprise, the rights of Dalits and indigenous people, children’s rights, tuberculosis control, prevention of HIV and Aids and care of people affected by HIV.
The Trust carried out this programme through partnerships with four Indian non-governmental organisations (NGOs):
Arogya Agam, (Place of Health), Andipatty, Theni district Society for Rural and Environment Development (SRED), Dharumathupatti, Theni district All Rural Development and Social Construction Society (ARUDECS), Bodinayakkanur, Theni district Nilgiris Wynaad Tribal Welfare Society, (NWTWS), Ambalamoola, Nilgiris district.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Grant-making policy
The grant-making policy is reviewed regularly to ensure that it reflects the charity’s objectives and thereby advances public benefit.
The beneficiaries of the trust’s grant making programme are rural communities in the south Indian districts of Theni, Dindigul, Nilgiris and Wynaad, in particular women, children, Dalits and tribal people, and those affected by HIV and Aids, leprosy and tuberculosis.
How grants are chosen and monitored
Grants are made for programmes that either directly improve livelihoods and health, or address the causes of poor livelihoods and poor health. The programmes are monitored by reviewing reports from partner organisations and with the assistance of a “Partners Coordinator”.
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A review of the achievements and performance
Women’s development
VST helps fund NGOs in Theni district that support women’s self-help groups (WSHGs) and federations of WSHGs. Seven federations with 25,000 members in the area come together under the banner of TMPI (Tamil Nadu women’s movement). NGO staff provide support and training to the federations.
TMPI campaigns on issues including under-age marriage, alcohol abuse, and domestic violence, and supports and monitors credit and micro-enterprise activities of WSHGs and federations.
TMPI members participated in a domestic violence campaign run by Arogya Agam, the trust’s chief partner organisation. The campaign worked through 110 village-based Violence Against Women committees which identified women in need. Some 1,827 survivors of domestic violence were registered. Cases were addressed through counselling, mediation, or police or court action. The project worked closely with government social workers. Some 609 cases were resolved, meaning violence had ceased for 18 months.
Action by TMPI prevented 36 illegal under-age marriages.
VST funded work with women’s self-help groups (WSHGs) by two partner NGOs in Theni district, Arogya Agam, and SRED. The groups are members of federations, and the federations are affiliated to TMPI. As well as functioning as credit unions and promoting micro-enterprise the SHGs campaign on gender issues. Some 2,000 women celebrated International Women’s Day.
The TSPI federation increased its membership by 286 while KKPI added 99 new members. A total of 1,432 women obtained affordable loans from WSHGs worth Rs.73 million (£695,000), while 769 women benefitted from soft loans from an Indian government agency of Rs. 52m (£495,000). Various government schemes and benefits were accessed by the WSHG members, including pensions, medical insurance and housing. The WSHGs and their federations addressed domestic violence, under-age marriage, and families at risk of sex selective abortion.
TSPI adopted digital accounting using mobile phones. This prevents malpractice which can destabilise groups.
SRED worked with 42 WSHGs, mobilising bank and NGO credit of £143,000 for microenterprises for 213 group members. All the microenterprises were small scale farming or small shops.
Malarchi, the federation associated with SRED, worked with WSHGs and anti-violence volunteeers to address 136 cases of domestic violence, 96 families vulnerable to female foeticide and 11 cases of under-age marriage. WSHGs lobbied their local panchayats to provide village infrastructure such as drinking water, drainage, streetlights and paved streets.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Community based organisations (CBOs)
VST funds work by its partner Arogya Agam to provide support and training to community organisations for the marginalised Arunthathiyar community in Theni district. The work has been extended to three new areas of Theni district where 15 self-help groups for Arunthathiyar women have been formed. Credit for microenterprise and family needs was obtained from TSPI and NABARD. Some 80 children have joined Arunthathiyar children’s groups.
Sanitation workers are generally drawn from the Arunthathiyar community. A forum for such workers has been formed and has assisted workers to obtain their welfare rights.
Child rights
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The trust supports children’s groups in 58 villages whose members are drawn from the disadvantaged Arunthathiyar community. There are now 2,441 group members. The project focuses on preventing drop-outs from school and encouraging children to stay in school to age 18 in order to gain qualifications to enter higher education. Of 137 children, 119 passed their final school examinations and 112 enrolled in college.
Tribal projects
Village Service Trust supported two projects with tribal communities. Both focus on children’s education, securing rights under the Forest Rights Act and obtaining welfare benefits and village infrastructure.
In Theni District VST contributes to a project run by its partner, ARUDECS that works with women’s self-help groups, children’s groups and village volunteers. The project assisted 278 tribal people to obtain documents entitling them to various benefits and rights. It also enabled people to obtain land for housing and agriculture.
Our partner Nilgiris Wynaad Tribal Welfare Society is based in north-west Tamil Nadu. Its field workers promote school attendance and family welfare entitlements in 50 tribal villages. Some 282 school dropouts were persuaded to resume education, and 199 welfare documents were obtained.
HIV prevention
VST funds a programme by Arogya Agam to control HIV transmission by promoting safe sex among men in non-heterosexual relationships. This group is often missed by HIV prevention programmes. The project works with ‘Safe Sex Role Models’ in Theni District. The role models interact with their peers to encourage them to avoid risky behaviour by reducing the number of partners and using condoms. The programme counselled more than 800 men, and a similar number of boys in school hostels. A total of 20 new condom outlets were created.
Partner support
VST provided a contribution towards staff, administrative, and maintenance costs at Arogya Agam.
Monitoring achievement
The trustees monitor the performance of the programmes funded by the trust by reviewing reports from partner organisations and by making visits to the project areas. The trust appointed a “partners’ coordinator” to provide support to partners and feedback to the trust.
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Financial review
Details of income and spending
The trust’s work is funded by donations from individuals and charitable trusts, by legacies and by dividends and interest from investments and bank deposits. The trust received £51,570 in legacies, a second year of higher than usual legacy income. Donations from individuals totalled £39,193 compared with an exceptional £89,747 the previous year, which had included one large donation. Grants from trusts of £1,000 or more amounted to £19,976, another unusual figure, due to grants from two charities for tribal projects. Investment income was £8,455 (£6,660 in the previous year). Overall, income was higher than normal because of Page | 5 the legacies and grants. Underlying regular income was similar to that usually received. Expenditure in India amounted to £45,345 against £78,326 the previous year. Spending on tribal programmes remained higher than is typically the case as a result of the grants received. Spending on fundraising and publicity was £778, compared to £685 the year before. Support costs were £2,835 (£429) while administrative expenses amounted to £822 (£362).
Reserves
The reserves increased during the year from £367,811 to £444,780 because income exceeded expectations while expenditure remained as planned.
Investment policy and performance
The policy of the trust is to invest its reserves in common investment funds designed for charities. Most of the investments are held in the ethical, global and property funds of the Charities Official Investment Fund, aiming to achieve a balance between the level of dividends and capital growth.
The trust has decided to invest legacy income in order that the benefit of legacies can be spread over many years into the future. Cash is placed on deposit with banks and a building society.
The trust holds sufficient cash in its bank account for immediate needs.
The value of investments increased by £7,555 against a decline of £14,211 the previous year.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Risk review and going concern
The trustees hold a regular review of the major risks to which the charity is exposed and policies have been established to mitigate those risks. The trust has prepared cash flow plans for the next 12 months and believes that funding expected from donors and dividends together with the trust’s reserves are sufficient to meet the trust’s objectives up to December 2025 and beyond. The trust has internal procedures for adequate financial controls, and has in place monitoring and evaluation procedures for the programmes it finances in India.
The trustees have identified the following risks and measures to mitigate those risks:
| Risk | Mitigation |
|---|---|
| Strategy for achieving objectives loses focus |
Regular review of strategy |
| Age profile of trustees; pressure on trustees time; adequate skills coverage |
New trustees with less time pressure have been recruited |
| Loss of key personnel | Ensure all tasks and historical knowledge are documented |
| Reporting by partners fails to disclose significant matters |
Ensure regular communication and feedback on reporting. Partners’ coordinator appointed |
| Programmes do not fully meet objectives | Ensure objectives are clear and measured, and reviewed by the partners’ coordinator |
| Challenging context for Indian NGOs with foreign funding |
Support partners in compliance with regulations and maintaining good relationships with officials |
| Potential threat to good reputation | Maintain close relationship with partners to ensure thorough safeguarding and financial controls |
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The trust has in place a formal procedure governing partners’ applications for grants, reporting requirements and for the disbursement of grants. All partners are complying with these procedures. There is a heightened risk relating to foreign funding of Indian NGOs. One former partner, Vasandham Society has been denied permission to receive foreign funding. It has submitted an appeal and awaits a hearing. The trust is unable to fund Vasandham unless foreign funding approval is restored. A sum of £3,514 is included in debtors, being unspent balance of grants made to Vasandham. The trust recognises that the situation at Vasandham is serious, but that resolution of the problem is possible and is being actively pursued. The trust’s partner coordinator has provided support to the Vasandham Society board and arranged training sessions on foreign funding regulations for other partners.
RESERVES POLICY
In general the trust seeks to maintain the reserves at a constant level, adjusting its spending to achieve this. By conserving its reserves, the trust expects to achieve a stable income from investments, helping to maintain a steady level of grants to partner organisations in India for the long term. The legacy income in the year under review will enable the trust to increase its future grants to partners in line with increased investment income anticipated.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Plans for the future
The year in review saw higher than usual income from legacies and grants, which is unlikely to be repeated in the next 12 months. Trustees expect income from donors to return to usual levels, supported by the high proportion of income from committed long term regular donors. In view of these factors, they are confident that the trust can be regarded as a going concern, that there is no material uncertainty, and have confidence in its cash flow projection to December 2025 showing a rise in the trust’s resources.
Structure, governance and management
The trust is a registered charity, number 277111, and is constituted under a Deed of Trust dated 26 March 1979.
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New trustees are appointed by the existing trustees in accordance with the Deed of Trust and serve for an unlimited period. The minimum number of trustees is five.
At the quarterly trustees’ meetings, the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies and performance. The day to day administration of grants, liaison with donors and fundraising and publicity is undertaken by the Secretary, who is also a trustee.
Recruitment of new trustees
New trustees are recruited by advertising and recommendation by existing trustees. Important considerations for the appointment of trustees include knowledge and experience of India, knowledge and experience of international development, knowledge and experience of fundraising and charity management. New trustees are referred to the Charity Commission’s guidance for trustees and provided with recent trust minutes.
Key management personnel remuneration
The trustees consider the board of trustees and the Secretary as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee is paid. Details of trustee expenses are disclosed in note 14 to the accounts.
Reference and administrative information
Trustees serving during the year and since the year end: Sophie Walker, Chair Tony Huckle, Secretary Bryan Osbon Rosie Oakley Cheryl Joseph (appointed June 2024) Ruth Njiri (appointed June 2024) Ned Tinne (appointed June 2024) Richard Garforth (resigned February 2024) Murali Shanmugavelan (resigned July 2024) Gerti Wilford (resigned September 2023) Carol Chalmers (resigned May 2023) David Mosse (resigned July 2024) Angela Russ (resigned September 2023)
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
UK office and management
The programme management and general administration is undertaken by the Secretary from an office in Cambridgeshire.
Office address: 68 High Street, Hail Weston, St Neots, PE19 5JW Bankers: Natwest Charity Number 277111 (Registered 7 September 1979)
Independent Examiner
A resolution to reappoint Christopher Wilde A.C.A. as the Independent Examiner for the year under review was passed at the trustees meeting on 7th December 2024.
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Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Report of the Independent Examiner
I report on the financial statements for the year ending 31st March 2024 set out on pages 11 to 19.
Respective Responsibilities of Trustees and Independent Examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income was less than £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s report
My examination was carried out in accordance with the Standards for Reporting Accountants laid down by the Institute of Chartered Accountants in England and Wales and with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiner’s statement
In connection with my examination, no matter has come to my attention:
which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordance with Section 130 of the 2011 Charities Act
to prepare accounts which accord with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christopher Wilde A.C.A
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a Trustees’ Annual Report and 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 and Wales requires the charity trustees to prepare financial statements for each 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 the 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 the methods and principles in the applicable Charities SORP;
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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 that must be 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 business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the trustees on 2nd September 2024 and signed on their behalf by:
Sophie Walker, Chair of Trustees
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
STATEMENT OF FINANCIAL ACTIVITIES (incorporating the INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR TO 31 MARCH 2024)
| YEAR TO 31 MARCH 2024) | |||||
|---|---|---|---|---|---|
| 2024 | |||||
| Restricted | Unrestricted | ||||
| INCOME AND EXPENDITURE ACCOUNTNotes | Funds | Funds | Total | 2023 | |
| Incoming Resources: | £ | £ | £ | £ | |
| Donations, legacies and similar | 7,261 | 83,502 | 90,763 | 218,072 | |
| Grants receivable | 2 | 18,976 | 1,000 | 19,976 | 3,000 |
| Investment income | 3 | - | 8,455 | 8,455 | 6,660 |
| --------- | --------- | ---------- | ---------- | ||
| Total incoming resources | 26,237 | 92,957 | 119,194 | 227,732 | |
| Less: Costs of generating funds: | 4 | 778 | 778 | 685 | |
| ---------- | ----------- | ----------- | ------------ | ||
| Net incoming resources available | |||||
| for charity application | 26,237 | 92,179 | 118,416 | 227,047 | |
| ======= | ======= | ======= | ======= | ||
| Resources Expended | |||||
| Charitable expenditure: | 5 | ||||
| Project partners | - | 349 | 349 | 3,424 | |
| Women’s programme | 2,604 | 4,403 | 7,007 | 11,670 | |
| HIV prevention | - | 558 | 558 | 284 | |
| Tribal projects | 23,393 | 9,771 | 33,164 | 52,765 | |
| Child rights | - | 2,886 | 2,886 | 6,080 | |
| Health programme | - | - | - | 1,036 | |
| Community based organisations | 240 | 1,141 | 1,381 | 3,067 | |
| -------- | ------- | ------- | -------- | ||
| Total programmes expenditure | 26,237 | 19,108 | 45,345 | 78,326 | |
| Other charitable expenditure | |||||
| Support costs | 6 | - | 2,835 | 2,835 | 429 |
| Governance | 7 | - | 822 | 822 | 362 |
| --------- | -------- | ---------- | --------- | ||
| Total charitable expenditure | 26,237 | 22,765 | 49,002 | 79,117 | |
| ====== | ======= | ======= | ======= | ||
| Total resources expended | 26,237 | 23,543 | 49,780 | 79,802 | |
| ====== | ====== | ======= | ======= | ||
| Net incoming/ (outgoing) resources | - | 69,414 | 69,414 | 147,930 | |
| Net income/(expenditure) for the year | |||||
| Other recognised gains and losses | |||||
| Gains/(Losses) on investments and currency | |||||
| unrealised: | - | 7,555 | 7,555 | (14,211) | |
| -------- | -------- | -------- | --------- | ||
| Net movement of funds | - | 76,969 | 76,969 | 133,719 | |
| Total funds brought forward | - | 367,811 |
367,811 | 234,092 | |
| ---------- | ---------- | ---------- | ----------- | ||
| Total funds carried forward | - | 444,780 | 444,780 | 367,811 | |
| ====== | ====== | ====== | ====== |
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Movements in funds are shown in Note 15. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 19 form part of these financial statements.
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
| BALANCE SHEET 31 MARCH 2024 FIXED ASSETS Tangible assets Investments CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS: Amounts falling due within one year NET CURRENT ASSETS TOTAL NET ASSETS CAPITAL AND RESERVES Restricted Funds Unrestricted Funds |
2024 2023 Note£ £ 8 50 62 10 165,492 127,937 ---------- -------- 165,542 127,999 11 9,916 21,964 282,143 223,768 --------- ---------- 292,059 245,732 12 (12,821) (5,920) --------- ---------- 279,238 239,812 ---------- ---------- 444,780 367,811 ====== ====== 15 - - 444,780 367,811 ---------- ---------- 444,780 367,811 ====== ====== |
|---|---|
These financial statements were approved by the members of the committee on 7th December 2024 and are signed on their behalf by:
Anthony Huckle, Secretary
The notes on pages 13 to 19 form part of these financial statements.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared under the historical cost accounting convention except for investments which are included at revalued amounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The trust constitutes a public benefit entity as defined by FRS 102.
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Donations, legacies and similar incoming resources
Donations, legacies and similar incoming resources are included in the year in which they are receivable, which is when the charity becomes entitled to the resource.
Grants and donations receivable
Grants receivable, including grants for the purchase of fixed assets, are brought into account on receipt unless its receipt is certain in which case it is brought into account when the grant is notified.
Intangible income
Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party. The trustees have decided not to quantify donated services as these cannot be measured reliably.
Expenditure
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT that cannot be recovered as the charity is not registered for VAT.
Resources expended are allocated to the particular activity where the cost relates directly to that activity. All expenditure is accounted for on an accruals basis.
Governance and support costs
Governance costs are those costs incurred in the management of the charity's assets, organisation and compliance functions. The trustees have decided to meet all governance costs from unrestricted funds and so no allocation or charge is made to restricted funds for any governance related costs. Support costs comprise expenses in pursuance of the trust’s charitable activities. They are applied to unrestricted spending and not apportioned to funds as they are immaterial.
Village Service Trust Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
Charitable expenditure
Charitable expenditure comprises grants to partner organisations that undertake programmes in pursuance of the charitable aims of the trust.
Costs of generating funds
The costs of generating funds are expenses incurred in activities designed to raise funds and publicise the work of the trust.
Fixed assets and depreciation
Fixed assets are comprised of office equipment after depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Office equipment - 20% reducing balance basis
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Investments
Investments are stated at closing bid value at the balance sheet date. Gains or losses on revaluation are taken on the Statement of Financial Activities.
The trust manages investment risk by only investing in common investment funds designed for charities. Investment income is allocated to unrestricted funds.
Trustees expenses and remuneration
Trustees are not paid but may be compensated for travel costs for attending trustee meetings and other travel in connection with the work of the trust.
Independent Examiner
The Independent Examiner does not receive any remuneration.
Fund accounting
Funds held by the charity are either:-
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(a) Unrestricted general funds – these are funds without specified purpose and are available as general funds.
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(b) Unrestricted designated fund – these funds are without specified purpose but are designated to be spent over a ten year period.
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(c) Restricted funds – these are funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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(d) Transfers between funds are made to cover deficits on individual restricted funds.
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
| 2. GRANTS RECEIVABLE | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | |||||
| Grants were received from | Purpose |
£ | £ | |||
| Paget Trust |
Unrestricted | - | 1,000 | |||
| St Clare & St Francis Trust | Unrestricted | 1,000 | 1,000 | |||
| Bryan Guinness Trust | Restricted: Tribal Programme | - | 1,000 | |||
| Beatrice Gilmore Ch. Trust | Restricted: Tribal | Programme | 11,098 | - | ||
| Tamwed | Restricted: Tribal Programme | 7,878 | - | |||
| --------- | --------- | |||||
| Total grants | 19,976 |
3,000 |
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| ====== | ====== | |||||
| 3. INVESTMENT INCOME (UNRESTRICTED) | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Income from UK quoted investments | 5,780 | 5,362 | ||||
| Interest receivable | 2,675 | 1,298 | ||||
| ------- | ------- | |||||
| 8,455 | 6,660 | |||||
| ==== | ==== | |||||
| 4. COSTS OF GENERATING FUNDS (UNRESTRICTED) | ||||||
| 2024 | 2023 | |||||
| £ | £ | |||||
| Fundraising and publicity | 734 | 530 | ||||
| Office expenses | 44 | 155 | ||||
| ---------- | --------- | |||||
| 778 | 685 | |||||
| ====== | ====== | |||||
| 5. CHARITABLE EXPENDITURE | ||||||
| Grants to partners | 2024 | 2023 | ||||
| Restricted Unrestricted | Total | |||||
| £ | £ | £ | £ | |||
| Arogya Agam |
13,942 | 7,391 | 21,333 | 19,120 | ||
| Vasandham |
- | - | - | 5,442 | ||
| Nilgiris Wynaad Tribal | ||||||
| Welfare Society | 12,295 | 4,882 | 17,177 | 46,872 | ||
| Society for Rural and | ||||||
| Environmental Development | - | 1,946 | 1,946 | 2,088 | ||
| All Rural Development and | ||||||
| Social Construction Society | - | 4,889 | 4,889 | 4,804 | ||
| -------- | -------- | --------- | --------- | |||
| 26,237 | 19,108 | 45,345 | 78,326 | |||
| ====== | ====== | ====== | ====== |
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
CHARITABLE EXPENDITURE
Programmes supported:
| CHARITABLE EXPENDITURE Programmes supported: |
2024 | 2023 | |||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | |||
| £ | £ | £ | £ | ||
| Project partners | |||||
| Arogya Agam | - | 349 | 349 | 1,247 | |
| Vasandham | - | - | - |
2,177 | |
| Page | |||||
| Programmes | |||||
| Women’s programme | 2,604 | 4,403 | 7,007 | 11,670 | |
| Tribal projects | 23,393 | 9,771 | 33,164 | 52,765 | |
| Child rights | - | 2,886 | 2,886 | 6,080 | |
| Health programme | - | - | - |
1,036 | |
| Community based organisations | 240 | 1,141 | 1,381 | 3,067 | |
| HIV prevention | - | 558 | 558 | 284 | |
| --------- | --------- | --------- | --------- | ||
| 26,237 | 19,108 | 45,345 | 78,326 | ||
| ====== | ====== | ====== | ====== | ||
| 6. SUPPORT COSTS (UNRESTRICTED) | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Office costs | 60 | 218 | |||
| Travel costs | 537 | 211 | |||
| Consultant | 1,211 | - | |||
| Volunteer | 1,027 | - | |||
| --------- | --------- | ||||
| 2,835 | 429 | ||||
| ====== | ====== | ||||
| 7. GOVERNANCE (UNRESTRICTED) | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Office costs | 5 | 20 | |||
| Trustees expenses (Travel) | - | 75 | |||
| Subscriptions | 273 | 267 | |||
| Bank deposit management fee | 544 |
- | |||
| -------- | -------- | ||||
| 822 |
362 | ||||
| ===== | ===== |
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
| 8. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Office | ||||
| Equipment | ||||
| £ | ||||
| COST | ||||
| At 1 April 2023 | 5,700 | |||
| Additions | - | |||
| --------- | ||||
| At 31 March 2024 |
5,700 | Page | ||
| DEPRECIATION | ||||
| At 1 April 2023 | 5,638 | |||
| Charge for the year |
12 | |||
| -------- | ||||
| At 31 March 2024 | 5,650 | |||
| ===== | ||||
| NET BOOK VALUE | ||||
| At 31 March 2024 | 50 | |||
| -------- | ||||
| At 31 March 2023 | 62 | |||
| ===== | ||||
| 9. | TAXATION | |||
| The trust is a registered charity and it is considered | that its activities are such that no taxation | |||
| liability will arise. | ||||
| 10. | INVESTMENTS | |||
| 2024 | 2023 | |||
| £ | £ |
|||
| UK quoted investments | ||||
| Market value at 1 April 2023 (2022) | 127,937 | 141,958 | ||
| Additions | 30,000 | - | ||
| Disposals |
- | - | ||
| Increase/ (decrease) in market value in year | 7,555 | (14,021) | ||
| Market value at 31 March 2024 (2023) | 165,492 | 127,937 | ||
| Investments held at 31 March 2024: | ||||
| COIF Ethical Investment Fund | 56,329 | 51,222 | ||
| COIF Property Fund | 54,980 | 57,073 | ||
| COIF Global Equity Fund | 34,309 | - | ||
| Black Rock Charities UK Equity Fund | 12,827 | 12,463 | ||
| M&G Equities Investment Fund for Charities | 7,047 | 7,179 | ||
| ------- | ------- | |||
| 165,492 | 127,937 | |||
| ===== | ===== | |||
| Historical cost |
128,832 |
98,832 |
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
11. DEBTORS
| 11. | DEBTORS | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Tax recoverable through Gift Aid | 6,250 | 8,063 | |
| Accruals | 152 | 153 | |
| Partner organisation (see note 17) | 3,514 | 13,748 | |
| ------- | ------- | ||
| Total | 9,916 | 21,964 | |
| ===== | ===== | ||
| 12. | CREDITORS: Amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Funds held as agent (see note 13) | 4,943 |
5,920 | |
| Amounts due to partners for programmes | 7,878 | - | |
| ===== | ===== | ||
| 12,821 | 5,920 |
Page | 18
Amounts due to partners consists of advance funding pledged to NWTWS.
13. FUNDS MANAGED ON BEHALF OF INDIAN PARTNERS
In order to expedite the smooth transfer of third party funds to the trust’s partners the trust accepted funds from Global Giving (an international donor platform). The trust held these funds as an agent before transfer to the partners.
| Global Giving | £ |
|---|---|
| Funds held on 31 March 2023 | 5,920 |
| Funds received | 19,709 |
| Funds disbursed | (20,686) |
| Funds held on 31 March 2024 | 4,943 |
14. TRUSTEES’ REMUNERATION
Trustees received no remuneration (2023 - nil.)
15. FUNDS STATEMENT
At 1 Apr 23 £ Restricted funds: - Unrestricted funds: General fund 342,811 JM Designated fund 25,000 ---------- Total funds 367,811 ====== |
Incoming Resources £ 26,237 100,511 - ------------ 126,748 ====== |
Outgoing Resources £ 26,237 (1,458) 25,000 ---------- 49,779 ====== |
Transfers £ - - - ----------- - ====== |
At 31 Mar 24 £ - 444,780 - ---------- 444,780 ====== |
|---|---|---|---|---|
Village Service Trust
Trustees Annual Report and Financial Statements for the year ended 31[st] March 2024
The JM Designated fund resulted from a legacy from Mr John Morrish. As it was a significant amount the trustees decided to treat the legacy as a designated fund and apply the money to the Trust’s general funds in instalments over a period of 10 years. This fund has now been depleted and is closed. In the Trustees’ opinion, there are sufficient resources held to enable each fund to be applied in accordance with the restrictions imposed by donors.
16. RELATED PARTY TRANSACTIONS
Our long-standing associate, Mr John Dalton, is the founder of Arogya Agam, our chief partner. He no longer holds any official position with Arogya Agam but acts as a fundraiser and informal consultant. He is also engaged as Projects Adviser to VST, providing information and recommendations about our programmes and partners, and is invited to attend trustee meetings. All these services are given pro bono. During the year Arogya Agam received £21,332 in grants (2023: £19,120).
Page | 19
17. Vasandham
An amount in Debtors of £3,514 is unspent portion of a grant provided to Vasandham in a previous year. This organisation is unable to utilise this sum pending its appeal for restoration of permission to receive funding from abroad.