| 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 of Financial | Activities | ||
| Balance Sheet | 10 | ||
| Statement ofCash Flows |
|||
| Notes to the Financial | Statements | 12-26 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| Note | 2023 E |
2023 | 2023f | 2022 | |
| Income from: | |||||
| Donations and legacies |
552,117 | 552,117 | 65,454 | ||
| Other trading activities |
57,203 | 57,203 | 142,986 | ||
| Investments | 19,202 | 19,202 | 18,341 | ||
| Total income | 628,522 | 628,522 | 226,781 | ||
| Expenditure on: |
|||||
| Charitable activities |
7 | 1,640,195 | 61,126 | 1,701,321 | 1,281,096 |
| Total expenditure | 1,640,195 | 61,126 | 1,701,321 | 1,281,096 | |
| Net movement in funds |
(1,011,673) | (61,126) | (1,072,799) | (1,054,315) | |
| Reconciliation offunds: |
|||||
| Total funds brought forward |
4,764,014 | 90,059 | 4,854,073 | 5,908,388 | |
| Net movement in funds |
(1,011,673) | (61,126) | (1,072,799) | (1,054,315) | |
| Total funds carried forward | 3,752,341 | 28,933 | 3,781,274 | 4,854,073 |
| Note | 2023 | 2022f | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fixed assets | ||||||||||
| Tangible assets | 910,211 | 958,108 | ||||||||
| 910,211 | 958,108 | |||||||||
| Current assets | ||||||||||
| Debtors: amounts | falling due | after more than | ||||||||
| one year | 12 | 1,658,026 | 1,733,706 | |||||||
| Debtors: amounts | falling due within one year | 12 | 785,218 | 742,632 | ||||||
| Cash at bank and | in hand | 451,044 | 1,515,683 | |||||||
| 2,894,288 | 3,992,021 | |||||||||
| Creditors: amounts | falling | due within one | ||||||||
| year | (23,225) | (96,056) | ||||||||
| Net current assets | 2,871,063 | 3,895,965 | ||||||||
| Total assets less | current | liabilities | 3,781,274 | 4,854,073 | ||||||
| Total net assets | 3,781,274 | 4,854,073 | ||||||||
| Charity funds | ||||||||||
| Restricted funds | 14 | 28,933 | 90,059 | |||||||
| Unrestricted funds |
14 | 3,752,341 | 4,764,014 | |||||||
| Total funds | 3,781,274 | 4,854,073 | ||||||||
| The financial |
statements | were approved |
and | authorised | for issue |
by | the | Trustees on |
||
| Gfr Og/~2 | f- | and signed on their behalf by: |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | F | ||||
| Cash flows from operating | activities | ||||
| Net cash used in operating |
activities | 17 | (1,133,843) | (1,028,685) | |
| Cash flows from investing | activities | ||||
| Dividends, interests and rents from investments |
19,204 | 18,341 | |||
| Net cash provided by investing activities |
19,204 | 18,341 | |||
| Cash flows from financing | activities | ||||
| Repayments of borrowing |
50,000 | ||||
| Net cash provided by financing activities |
50,000 | ||||
| Change in cash and cash |
equivalents in |
the year | (1,064,639) | (1,010,344) | |
| Cash and cash equivalents | at the beginning | ofthe year | 1,515,683 | 2,526,027 | |
| Cash and cash equivalents | at the end of | the year | 18 | 451,044 | 1,515,683 |
| The notes on pages 12to 26 form part ofthese financial statements |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | |||
| Donations | & | gifts | 540,502 | 540,502 |
| Legacies | 1,000 | 1,000 | ||
| HM Revenue | 8 Customs tax reclaimed | 10,615 | 10,615 | |
| 552,117 | 552,117 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 2022 | 2022f | |||
| Donations | 8 | gifts | 57,379 | 57,379 |
| Legacies | ||||
| HM Revenue | 8 Customs tax reclaimed | 8,075 | 8,075 | |
| 65,454 | 65,454 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | |||
| F | E | |||
| Rent | income | 1,404 | 1,404 | |
| Profit | on exchange | rate fluctuations | 32,291 | 32,291 |
| Profit | on sale offixed assets | 23,508 | 23,508 | |
| 57,203 | 57,203 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 2022 | 2022 | |||
| Rent | income | 1,453 | 1,453 | |
| Profit | on exchange | rate fluctuations | '/40, 568 | 140,568 |
| Profit | on sale offixed assets | 965 | 965 | |
| 142,986 | 142,986 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2023 | ||
| Investment | income | 19,202 | 19,202 |
| Unrestricted | Total | ||
| funds | funds | ||
| 2022f | 2022 | ||
| Investment | income | 18,341 | 18,341 |
| Grants to | Grants to | Total | ||||
|---|---|---|---|---|---|---|
| Institutions | Individuals | funds | ||||
| 2023 | 2023 | 2023 | ||||
| Grants, | Relief | of | Poverty | 79,820 | 1,535,268 | 1,615,088 |
| Grants to | Grants to | Total |
|---|---|---|
| Institutions | Individuals | funds |
| 2022 | 2022f | 2022f |
| 27,977 | 1,165,276 | 1,193,253 |
| The Charity has made the following grants to institutio |
ns during the year: |
|
|---|---|---|
| 2023 | 2022f | |
| Name of institution | ||
| Jamaica Poverty Trust | 61,126 | 27,977 |
| II Piccollo | 18,694 | |
| 79,820 | 27,977 |
| Grant | |||||
|---|---|---|---|---|---|
| funding of | Support | Total | |||
| activities | costs | funds | |||
| 2023 | 2023 | 2023 | |||
| Relief | of | Poverty | 1,615,088 | 86,233 | 1,701,321 |
| Analys | is | ofexpenditure by activities ( |
continued) | ||
|---|---|---|---|---|---|
| Grant | |||||
| funding ot |
Support | Total | |||
| activities | costs | funds | |||
| 2022 | 2022f | 2022f | |||
| Relief | of | Poverty | 1,193,253 | 87843 | 1 281096 |
| Total | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2023 | 2022f | ||||
| Support costs | 4,557 | 3,109 | |||
| Audit fees | 10,470 | 10,470 | |||
| Accountancy | fees | 4,575 | 7,200 | ||
| Professional | and Admin fees | 44,476 | 45,047 | ||
| Finance costs | 751 | 525 | |||
| Depreciation | 21,404 | 21,492 | |||
| 86,233 | 87,843 | ||||
| Auditor's remuneration |
|||||
| 2023 | 2022f | ||||
| Fees payable | to the Charity's | auditor for the audit ofthe Charity's | annual | ||
| accounts | 10,470 | 10,470 |
| Freehold | Office | ||
|---|---|---|---|
| property | equipment | Total | |
| Cost or valuation | |||
| At 1 July 2022 | 1,084,463 | 4,091 | 1,088,554 |
| Disposals | (34,000) | (2,741) | (36,741) |
| At 30June 2023 | 1,050,463 | 1,350 | 1,051,813 |
| Depreciation | |||
| At 1 July 2022 | 126,849 | 3,597 | 130,446 |
| Charge for the year | 21,368 | 36 | 21,404 |
| On disposals | (7,820) | (2,428) | (10,248) |
| At 30June 2023 | 140,397 | 1,205 | 141,602 |
| Net book value | |||
| At 30June 2023 | 910,066 | 145 | 910,211 |
| At 30June 2022 | 957,614 | 494 | 958,108 |
| 2023f | 2022 | |||
|---|---|---|---|---|
| Due after more than one year | ||||
| Other debtors | 1,658,026 | 1,733,706 | ||
| 2023f | 2022 | |||
| Due within one year | ||||
| Loans made | to beneficiaries | 427,867 | 382,478 | |
| Loans to charitable | Trusts | 349,128 | 353,799 | |
| Prepayments | and | accrued income | 8,223 | 6,355 |
| 785,218 | 742,632 |
| 2023f | 2022f | ||
|---|---|---|---|
| Other loans | 50,000 | ||
| Accruals and deferred | income | 23,225 | 46,056 |
| 23,225 | 96,056 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 30June | |||||
| July 2022 | Income | Expenditure | 2023 | |||
| Unrestricted | funds | |||||
| General | Fund | 4,764,014 | 628,522 | (1,640,195) | 3,752,341 | |
| Balance at | ||||||
| Balance at 1 | 30June | |||||
| July 2022f | Income f |
Expenditure F |
2023 F |
|||
| Restricted funds | ||||||
| Jamaica | 90,059 | (61,126) | 28,933 | |||
| Total of | funds | 4,854,073 | 628,522 | (1,701,321) | 3,781,274 |
| Summary offunds - prior year |
||||
|---|---|---|---|---|
| Balance at | ||||
| Balance at | 30June | |||
| 1July 2021 | Income | Expenditure | 2022f | |
| General funds | 5,790,352 | 226,781 | (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 |
| Analysis | of net assets between funds - current year |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2023 | 2023 | 2023 | ||
| F | ||||
| Tangible | fixed assets | 910,211 | 910,211 | |
| Debtors | due after more than one year | 1,658,026 | 1,658,026 | |
| Current | assets | 1,207,329 | 28,933 | 1,236,262 |
| Creditors | due within one year | (23,225) | (23,225) | |
| Total | 3,752,341 | 28,933 | 3,781,274 | |
| Analysis | of net assets between funds - prior year | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| Tangible | fixed assets | 958,108 | 958,108 | |
| Debtors | due after more than one year | 1,733,706 | 1,733,706 | |
| Current | assets | 2,168,256 | 90,059 | 2,258,315 |
| Creditors | due within one year | (96,056) | (96,056) | |
| Total | 4,764,014 | 90,059 | 4,854,073 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| F | ||||
| Net expenditure for the year (as per Statement |
of Financial Activities) | (1,072,799) | (1,054,315) | |
| Adjustments for: |
||||
| Depreciation charges |
21,404 | 21,492 | ||
| Dividends, interests |
and rents from investments | (19,202) | (18,341) | |
| Loss/(profit) on the |
sale offixed assets | (23,508) | ||
| (Increase)/decrease | in debtors | 33,094 | 7,822 | |
| Increase/(decrease) | in creditors | (72,832) | 14,657 | |
| Net cash used in operating activities |
(1,133,843) | (1,028,685) |
| 2023 | 2022 | ||
|---|---|---|---|
| Cash | in hand | 451,044 | 1,515,683 |
| Total | cash and cash equivalents | 451,044 | 1,515,683 |
| At 1July | At 30June | |||||
|---|---|---|---|---|---|---|
| 2022 | Cash flows | 2023 | ||||
| f | P | |||||
| Cash | at bank and | in hand | 1,515,683 | (1,064,638) | 451,045 | |
| Debt | due within | 1 | year | (50,000) | 50,000 | |
| 1,465,683 | (1,014,638) | 451,045 |