| Page | |||
|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, its Trustees and Advisers | ||
| Trustees' Report | 2-5 | ||
| Independent Auditor's |
Report | on the Financial Statements | 6-8 |
| Statement ofFinancial | Activities | ||
| Balance Sheet | 10 | ||
| Statement ofCash Flows | |||
| Notes to the Financial | Statements | 12-26 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| Note | |||||||
| Income from: | |||||||
| Donations and |
legacies | 65,454 | 65,454 | 647,972 | |||
| Other trading activities |
142,986 | 142,986 | 3,294 | ||||
| Investments | 18,341 | 18,341 | 286,033 | ||||
| Total income | 226,781 | 226,781 | 937,299 | ||||
| Expenditure on: |
|||||||
| Charitable activities |
7 | 1,253,119 | 27,977 | 1,281,096 | 1,222,009 | ||
| Total expenditure | 1,253,119 | 27,977 | 1,281,096 | 1,222,009 | |||
| Net movement | in funds | (1,026,338) | (27,977) | (1,054,315) | (284,710) | ||
| Reconciliation | offunds: | ||||||
| Total funds brought | forward | 5,790,352 | 118,036 | 5,908,388 | 6,193,098 | ||
| Net movement | in funds | (1,026,338) | (27,977) | (1,054,315) | (284,710) | ||
| Total funds carried forward | 4,764,014 | 90,059 | 4,854,073 | 5,908,388 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Note | R | ||||||||||
| Fixed assets | |||||||||||
| Tangible assets | 958,108 | 979,600 | |||||||||
| 958,108 | 979,600 | ||||||||||
| Current assets | |||||||||||
| Debtors: amounts | falling due after more than | ||||||||||
| one year | 12 | 1,733,706 | 1,730,329 | ||||||||
| Debtors: amounts | falling due within one year | 12 | 742,632 | 753,832 | |||||||
| Cash at bank and | in | hand | 1,515,683 | 2,526,027 | |||||||
| 3,992,021 | 5,010,188 | ||||||||||
| Creditors: amounts | falling due within one | ||||||||||
| year | (96,056) | (81,400) | |||||||||
| Net current assets | 3,895,965 | 4,928,788 | |||||||||
| Total assets less | current liabilities | 4,854,073 | 5,908,388 | ||||||||
| Total net assets | 4,854,073 | 5,908,388 | |||||||||
| Charity funds | |||||||||||
| Restricted funds | 14 | 90,059 | 118,036 | ||||||||
| Unrestricted funds |
14 | 4,764,014 | 5,790,352 | ||||||||
| Total funds | 4,854,073 | 5,908,388 | |||||||||
| The financial (w |
statements were I~~( ckeo&8 |
approved | and | authorised for issue by and signed on their behalf by: |
the | Trustees on |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2022 | |||
| Donations | & | gifts | 57,379 | 57,379 |
| HM Revenue | &Customs tax reclaimed | 8,075 | 8,075 | |
| 65,454 | 65,454 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 202f | 2021 | |||
| Donations | & | gifts | 638,642 | 638,642 |
| WM Revenue | &Customs tax reclaimed | 9,330 | 9,330 | |
| 647,972 | 647,972 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2022 | ||
| R | |||
| Rent | income | 1,453 | 1,453 |
| Profit | on exchange rate fluctuations | 140,568 | 140,588 |
| Profit | on sale offixed assets | 965 | 985 |
| 142,986 | 142,986 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| 2021 | 2021 | ||
| Rent | income | 3,294 | 3,294 |
| Unrestricted | Total |
|---|---|
| funds | funds |
| 2022 | 2022 |
| E | |
| 18,341 | 18,341 |
| Unrestricted | Total |
| funds | funds |
| 2021 | 2021 |
| 286,033 | 286,033 |
| Grants to | Grants to | Total | ||||
|---|---|---|---|---|---|---|
| Institutions | Individuals | funds | ||||
| 2022 | 2022 | 2022 | ||||
| R | ||||||
| Grants, | Relief | of | Poverty | 27,977 | 1,165,276 | 1,193,253 |
| Grants to | Grants to | Total | ||||
|---|---|---|---|---|---|---|
| Institutions | Individuals | funds | ||||
| 2021 | 2021 | 2021 | ||||
| Grants, | Relief | of | Poverty | 62,505 | 800,710 | 863,215 |
| The Charity has made th | e following grants to institut |
ions during the year: |
||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Name ofinstitution | ||||
| Jamaica Poverty Trust | 27,977 | 44,732 | ||
| II Piccollo | 17,773 | |||
| 27,977 | 62,505 | |||
| Analysis ofexpenditure | by activities | |||
| Grant | ||||
| funding of | Support | Total | ||
| activities | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| Relief of Poverty | 1,193,253 | 87,843 | 1,281,096 |
| Grant | ||
|---|---|---|
| funding ot | Support | Total |
| activities | costs | funds |
| 2021 | 2021 | 2021 |
| 863,215 | 358,794 | 1,222,009 |
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| E | |||
| Support costs | 3,109 | 8,912 | |
| Audit fees | 10,470 | 9,960 | |
| Accountancy | fees | 7,200 | 5,800 |
| Professional | and Admin fees | 45,047 | 20,206 |
| Finance costs | 525 | 274,624 | |
| Depreciation | 21,492 | 20,194 | |
| Loss on disposal offixed asset | 19,098 | ||
| 87,843 | 358,794 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Fees payable | to the Charity's | auditor for the audit ofthe Charity's | annual | ||
| accounts | 10,470 | 9,960 |
| 11~ | Tangible fixed assets | ||||
|---|---|---|---|---|---|
| Freehold | Office | ||||
| property | equipment | Total | |||
| R | E | ||||
| Cost or valuation | |||||
| At 1 July 2021 | 1,084,463 | 4,091 | 1,088,554 | ||
| At 30June 2022 | 1,084,463 | 4,091 | 1,088,554 | ||
| Depreciation | |||||
| At 1 July 2021 | 105,480 | 3,474 | 108,954 | ||
| Charge for the year | 21,369 | 123 | 21,492 | ||
| At 30June 2022 | 126,849 | 3,597 | 130,446 | ||
| Net book value | |||||
| At 30June 2022 | 957,614 | 494 | 958,108 | ||
| At30June 2021 | 978,983 | 617 | 979,600 | ||
| These are all held in unrestricted | funds. | ||||
| 12. | Debtors | ||||
| 2022 | 2021 | ||||
| R | |||||
| Due after more than one year | |||||
| Other debtors | 1,733,706 | 1,724,991 | |||
| Loans to charitable Trusts | 5,338 | ||||
| 1,733,706 | 1,730,329 |
| 2022 | 2021 | ||
|---|---|---|---|
| Due within one year | |||
| Loans made | to beneficiaries | 382,478 | 329,172 |
| Loans to charitable Trusts | 353,799 | 333,396 | |
| Prepayments | and accrued income | 6,355 | 18,363 |
| Other debtors | 72,901 | ||
| 742,632 | 753,832 |
| 2022 | 2021 | ||
|---|---|---|---|
| K | |||
| Other loans | 50,000 | 50,000 | |
| Accruals and deferred | income | 46,056 | 31,400 |
| 96,056 | 81,400 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | 30June | ||||||
| July 2021 f. |
Income f. |
Expenditure | f | 2022 | |||
| Unrestricted | funds | ||||||
| General | Fund | 5,790,352 | 226,781 | (1,253,119) | 4,764,014 | ||
| Balance at | |||||||
| Balance at 1 | 30June | ||||||
| July 2021f | Income | Expenditure | 2022 | ||||
| Restricted funds | |||||||
| Jamaica | 11&,036 | (27,9T7) | 90,059 | ||||
| Total of | funds | 5,908,388 | 226,781 | (1,281,096) | 4,854,073 |
| Summary offunds - current y |
ear | |||
|---|---|---|---|---|
| Balance at | ||||
| Balance at 1 | 30June | |||
| July 2021 | Income | Expenditure | 2022 | |
| f. | ||||
| General funds | 5,790,352 | 225,781 | (1,253,119) | 4,764,014 |
| Restricted funds | 118,036 | (27,977) | 90,059 | |
| 5,908,388 | 226,781 | (1,281,096) | 4,854,073 |
| Summary offunds - prior year |
||||
|---|---|---|---|---|
| Balance at | ||||
| Balance at | 30June | |||
| 1July 2020 | Income | Expenditure | 2021 | |
| General funds | 6,075,062 | 937,299 | (1,222,009) | 5,790,352 |
| Restricted funds | 118,036 | 118,036 | ||
| 6,193,098 | 937,299 | (1,222,009) | 5,908,388 |
| Analysis ofnet assets between funds Analysis of net assets between funds - current year |
|||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| Tangible fixed assets | 958,108 | M8,108 | |
| Debtors due after more than one year | 1,735,172 | 1,735,172 | |
| Current assets | 2,166,790 | 90,059 | 2,256,849 |
| Creditors due within one year | (96,056) | (96,056) | |
| Total | 4,764,014 | 90,059 | 4,854,073 |
| Analysis ofnet assets between funds - prior year | |||
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| Tangible fixed assets | 979,600 | 979,600 | |
| Debtors due after more than one year | 1,730,329 | 1,730,329 | |
| Current assets | 3,161,823 | 118,036 | 3,279,859 |
| Creditors due within one year | (81,400) | (81,400) | |
| 5,790,352 | 118,036 | 5,908,388 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| R | |||||
| Net expenditure for |
the year (as per Statement of Financial Activities) | (1,054,315) | (284 710) | ||
| Adjustments for: |
|||||
| Depreciation charges |
21,492 | 20,194 | |||
| Loan revaluation | (40,000) | ||||
| Dividends, interests |
and rents | from investments | (18,341) | (286,033) | |
| Loss on the sale of | fixed assets | 19,098 | |||
| (Increase)/decrease | in debtors | 7,822 | 1,479,666 | ||
| Increase/(decrease) | in creditors | 14,657 | (35,767) | ||
| Net cash provided | by/(used | In) operating | activities | (1,028,685) | 872,448 |
| 18. | Analysis ofcash and | cash equivalents | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Cash in hand | 1,515,683 | 2,526,027 | ||
| Total cash and cash | equivalents | 1,515,683 | 2,526,027 | |
| 19. | Analysis ofchanges | in net debt |
| At1 July | At 30June | |||||
|---|---|---|---|---|---|---|
| 2021 | Cash flows | 2022 | ||||
| Cash | at bank and | in hand | 2,526,027 | (1,010,344) | 1,515,683 | |
| Debt | due within | 1 | year | (50,000) | (50,000) |