THE FRANCISCAN AID FUND
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
CHARITY NO 285413
BALME, KITCHEN AND PEARCE LTD CHARTERED ACCOUNTANTS 25 LEMON STREET TRURO CORNWALL TR1 2LS
THE FRANCISCAN AID FUND CHARITY NO 285413
CONTENTS
| Page No | |
|---|---|
| Independent Examiners Report to the Trustees | 1 |
| Trustees Report | 2 and 3 |
| Receipts and Payments Account | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
PAGE 1
THE FRANCISCAN AID FUND CHARITY NO 285413
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE FRANCISCAN AID FUND
I report on the accounts of the Charity for the year ended 30 September 2023 which are set out on pages 2 to 6.
Respective responsibilities of trustees and examiner
The charity’s trustees consider that an audit is not required for this year in accordance with the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to: -
-
Examine the accounts (under section 145 of the act as amended);
-
To follow the procedures laid down in the General Directions given by the charity commission (under section 145(5)(b) of the act as amended); and
-
To state whether particular matters have come to my attention
Basis of Independent examiners report
My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be require in an audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiners Statement
In the course of my examination, no matter has come to my attention
-
1) Which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
-
Proper accounting records are kept (in accordance with section 130 of the Act); and
-
Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act;
-
2) To which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
T J Dawson FCA Balme, Kitchen & Pearce Ltd Chartered Accountants 25 Lemon Street TRURO Cornwall TR1 2LS
PAGE 2
THE FRANCISCAN AID FUND
CHARITY NO 285413
TRUSTEES REPORT
The Franciscan Aid Fund is a registered charity No 285413. Its address is at 48 Queen Alexandra Road, Bedford. MK41 9SE.
The Charity Trustees during the year to 30 September 2023 were: -
C. J. Ugbo Chairman A. M. Alexander Secretary G. E. W. Buckler Treasurer A. Lindley Kaoukji (to 26.6.2023) B. M. Hewitt H. Mossop J. E. Thomas C. Wren (wef 21.11.2022) P.J. Mossop (wef 21.11.2022) C. J. Masters (wef 21.11.2022) J. Hebenton (wef 21.11.2022)
Governing Document
The Franciscan Aid Fund is constituted by a Deed of Trust dated 13 August 1982 as amended by Order of 10 April 2006 and by Resolution on 13 June 2006.
How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below: -
The main area of charitable work is to give grants to individuals and organisations to relieve poverty and advance education, primarily in the world’s poorest countries.
Objects
The object of the Charity is to relieve poverty and advance education, primarily in the world’s poorest countries.
Review of the year
During the financial year to 30 September 2023 the Charity’s gross receipts were £62,660 (2022 - £64,777), the Charity has made grants of £78,365 (2022 - £75,383).
The total payments for the year of £80,204 (2022 - £77,238) resulted in a deficit of £17,544 (2022 - deficit £12,461). This deficit is accounted for by the fact that we continued to make generous grants out of bequests totalling £108,158 received during the year to 30 September 2020. .
Reserves Policy
The level of reserves considered appropriate is £25,000.
PAGE 3
THE FRANCISCAN AID FUND
CHARITY NO 285413 TRUSTEES REPORT
Risk Management
The trustees have a risk management strategy which comprises an annual review to discuss those risks identified and plan procedures to minimise any potential impact on the Charity should those risks materialise.
Trustee Induction and Training
New Trustees are briefed on their legal obligations under charity law, the Charity Commission guidance on public benefit, the decision-making processes and the recent financial performance of the Charity.
Trustees are encouraged to pursue training opportunities where these will facilitate the undertaking of their role.
Trustees Selection
The trustees are appointed each year at the Annual General Meeting.
Signed on 13 November 2023 on behalf of the trustees:
C Ugbo
PAGE 4
THE FRANCISCAN AID FUND
CHARITY NO 285413
RECEIPTS AND PAYMENTS FOR THE YEAR TO 30 SEPTEMBER 2023
| NOTE RECEIPTS Donations Gift aid rebate Interest Bequests Sale of book “Franciscan Charism” TOTAL INCOME PAYMENTS Charitable Expenditure: - Grants payable Administration Costs Bank Charges TOTAL EXPENDITURE SURPLUS (DEFICIT) FOR THE YEAR FUND BALANCES BROUGHT FORWARD FUND BALANCES CARRIED FORWARD |
2023 2022 40,286 47,474 5,659 8,430 1,710 181 15,000 8,631 5 61 62,660 64,777 78,365 75,383 1,494 1,443 345 412 80,204 77,238 (17,544) (12,461) 96,224 108,685 £78,680 £96,224 |
2022 47,474 8,430 181 8,631 61 |
2022 |
|---|---|---|---|
| (12,461) 108,685 |
|||
| £96,224 |
PAGE 5
THE FRANCISCAN AID FUND CHARITY NO 285413 BALANCE SHEET AS AT 30 SEPTEMBER 2023
| 2023 CURRENT ASSETS Cash at Bank 24,677 Deposit Account held by Central Board of Finance 54,003 78,680 CURRENT LIABILITIES Sundry Creditors 0 NET CURRENT ASSETS 78,680 REPRESENTED BY Unrestricted Funds £78,680 TRUSTEES CERTIFICATE |
2022 68,931 27,293 |
2022 |
|---|---|---|
| 96,224 0 |
||
| 96,224 | ||
| £96,224 | ||
These accounts were approved by the trustees on 13 November 2023 and were signed on their behalf by:
C Ugbo
PAGE 6
THE FRANCISCAN AID FUND CHARITY NO 285413
NOTES TO THE ACCOUNTS FOR THE YEAR TO 30 SEPTEMBER 2023
1 ACCOUNTING POLICIES
General
These accounts have been prepared under the receipts and payments convention of the Charities Act 2011.
2 TRUSTEES REMUNERATION AND EXPENSES
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any Trustee or to any person known to be connected to them.
A total of £397 was reimbursed to Trustees. These payments were for travel costs incurred in attending meetings and costs incurred in administration.
3 GRANTS PAYABLE
| TO INSTITUTIONS TO INDIVIDUALS |
2023 2022 78,365 75,383 0 0 |
2022 |
|---|---|---|
| 78,365 75,383 |