THE FRANCISCAN AID FUND ## ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 ## 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 2024 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 2024 were: - C. J. Ugbo (to 13.11.2023) Chairman (to 13.11.2023) J. E. Thomas Chairman (wef 14.11.2023) A. M. Alexander Secretary G. E. W. Buckler Treasurer B. M. Hewitt H. Mossop C Wren P J Mossop C. J. Masters SSF J Hebenton (to 13.11.2023) A.M. Lane (wef 26.06.2023) P.A. Young (wef 13.11.2023) K.J. Loasby (wef 13.11.2023) M Twum-Darko (wef 13.11.2023) ## Governing Document The Franciscan Aid Fund is constituted by a Deed of Trust dated 12 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 2024 the Charity’s gross receipts were £53,868 (2023 - £62,660), and the Charity has made grants of £73,525 (2023 - £78,365) The total payments for the year of £76,244 (2023 - £80,204) resulted in a deficit of £22,376 (2023 - deficit £17,544). This deficit is accounted for by the fact that we have been able 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. This leaves us in a position both to maintain the current level of grant-giving in those years when we receive little or no income from bequests; and to be able to respond immediately to any exceptional and urgent need. PAGE 3 ## 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 Committee 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 11 November 2024 on behalf of the trustees: J. E. Thomas PAGE 4 |THE FRANCISCAN AID FUND
CHARITY NO 285413
RECEIPTS AND PAYMENTS FOR THE YEAR TO 30 SEPTEMBER 2024
2024
RECEIPTS
**Donations**
Regular Giving
27,265
Other Donations
8,779
Local Collections
5,012
Stewardship & Charities Aid Foundation
2,013
TSSF European Province
3,000
Americas Third Order $500 annual
410
46,479
Gift Aid Rebate
5,459
Interest – Central Board Deposit Fund
1,886
Interest – Lloyds Business Savings Account
44
Bequests
0
Sale of book ‘Franciscan Charism’
0
TOTAL INCOME
53,868
PAYMENTS
Charitable Expenditure: -
Grants paid
73,525
Administration Costs
Trust Advice – Gift Aid Claims
524
Trustees’ Expenses
346
Zoom Account
0
Website
159
Drop Box
645
Meeting Room – St Alphege
50
Independent Examiner
360
2,084
Bank Charges
635
TOTAL EXPENDITURE
76,244
SURPLUS (DEFICIT) FOR THE YEAR
(22,376)
FUND BALANCES BROUGHT FORWARD
78,680
FUND BALANCES CARRIED FORWARD
**£56,304**||2023
28,434
3,634
3,388
1,830
3,000
0
40,286
5,659
1,710
0
15,000
5
62,660
78,365
543
397
144
0
0
50
360
345
80,204
(17,544)
96,224
**£78,680**|2023
28,434
3,634
3,388
1,830
3,000
0
40,286
5,659
1,710
0
15,000
5
62,660
78,365
543
397
144
0
0
50
360
345
80,204
(17,544)
96,224
**£78,680**| |---|---|---|---| ||||| ||||| ||||(17,544)
96,224| ||||**£78,680**| PAGE 5 ## THE FRANCISCAN AID FUND CHARITY NO 285413 BALANCE SHEET AS AT 30 SEPTEMBER 2024 |CURRENT ASSETS
Cash at Bank – Current Account
Cash at Bank – Savings Account
Deposit Account held by Board of Finance
CURRENT LIABILITIES
Sundry Creditors
NET CURRENT ASSETS
REPRESENTED BY
Unrestricted Funds|2024
1,371
11,044
43,889
56,304
0
**56,304**
**56,304**|2023
24,677
0
54,003|2023| |---|---|---|---| |||78,680
0|| |||**78,680**|| |||**£78,680**|| ## TRUSTEES CERTIFICATE These accounts were approved by the trustees on 11 November 2024 and were signed on their behalf by: J E Thomas PAGE 6 ## THE FRANCISCAN AID FUND CHARITY NO 285413 NOTES TO THE ACCOUNTS FOR THE YEAR TO 30 SEPTEMBER 2024 ## 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 £346 was reimbursed to the trustees. These payments were for travel costs incurred in attending meetings and costs incurred in administration. ## 3 GRANTS PAYABLE |TO INSTITUTIONS
TO INDIVIDUALS|2024
2023
73,525
78,365
0
0|2023| |---|---|---| ||73,525
78,365||