STATEMENT OF FINANCIAL ACTNITIES FOR IB NETWORKS TRUST FOR THE YEAR ENDED 31 JULY 2024 Note Unre8trlctad Rostr1 Total Funds Funds Funds 2024 Total Funds 2023 Income Irom: Donations and Legacies Totsl Incomlng Ro•ourc•8 2,988 2,988 27,841 27,841 30,829 30029 58,563 08,563 Exp•ndltur• on: Charltable activltles Totsl R••ourc•• Exp•nd•d 3,113 3,113 29,220 29,220 32,333 32,333 06,908 N•t IncomellExp•ndltur•l b•for• tr•n•fer• 11,379) 1,600 Trnn•l•rn Gross Tran8fer8 between funds 11 Net movements In fvnd8 (125) (1,379) (1,504) 1,658 R•conclllallon of Fund• Totsl fvnds brought forward Totsl fund• ¢arrf•d fomrd 4,124 3,999 2,385 1,006 8,509 6,005 8,509 The Notes on pages 9 to 11 fomi part of these financlal statements.
BALANCE SHEET FOR IB NETWORKS TRUST AS AT 31 JULY 2024 2024 2023 CuTrnt a86•ts Debtors 1,383 5,126 6.509 Cash at bank and In hand 5,005 6.005 Currnnt Uabllltl•• Credltor8 8,009 Th fund• ot th• ¢harfty Re8tr1cted funds Unrestricted fund8 11 731 2,385 4,124 11 4,274 6,005 Total charlty fund• For the year ending 31 July 2024, the company was entitled to exemption from audit under 88Ctlon 477 of the Companies Act 2006. The dlrectors acknowledge thelr responslblllty for complylng wlth the requlrements of the act wtth respect to preparatk)n of the accounts and accountlng records. The m8mb8rs have not raquirad tho company to obtaln an audlt of its financlal Statarnts for the year in question in accordance with 8eCtlon 478. These financlal statements have been prepared In accordance wlth the provlslon8 appllcable to companies Subject to the Small companies, reglm8. The financlal 8tatsments wero approved and authorlsed for188ue by the Board on and slgned on Its behalf by: £J Ak-, stophen Adams Trustee Dats:13th Mah 2026
NOTES TO THE FINANCIAL STATEMENTS FOR IB NETWORKS TRUST FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES Th8 principle account policies adopted, judgements and key sources of estimation uncertalnty in the preparation of the financial statements are as follows: (a) Ba818 of prnparntlon The financial ststements have been prepared In accordance wlth Accounting and Reporting by Charlties: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) {as amended for accounting periods Commencing from 1 January 2019) - Charities SORP {FRS 102), the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (bl Qolng concern The trustees are of the view that there are no material uncertainties about the charfty's ability to continu8 as a golng concem, Ic) Fund aceountlng Unrestrtcted funds ar8 available for use at the dIsCreOn of the trustses In furtherance of the general obJectlves of th8 Charity and which have not been deslgnated for other purposes. General fvnds may be tran8ferred to désignated fiJnd8 where tru8tse8 wlsh to U88 th888 fvnd8 for a specific purpos8. Such funds may be transferred back to general funds once the criteria for the de3lgnatlon have been met or are no longer applicable. Restrlcted fund8 are funds whkh are to be used in accordance with specific restrlctbn8 imposed by donor8 or whlch have been raised by the Charity for particular purposes. The costs of raising and admlnisterlng such funds IS Set out in the notes to the financlal statements. Restrlcted funds may only be transferred to general or designated funds once the crfteria for restriction have been discharged or no longer apply. (d) Incomlng rnsourco• Income is recognised when the charfty is legally entltled to It after any perfomiance condltlons have béen met, the amounts can be measured reliably, and It 58 pn)bable that income will be recelved. l•) Ro8ourcH exnded Expendlture Is recognised as soon as there Is a legal or constructive obllgatlon to make a payrnent to a thlrd party, It is probable that settlement wlll be required and the amount of the obligats'on can bo m8asur8d rellably. Expenditure is cl&88ified under the follrywlng activlty heading: Expenditure on charitable actlvFtles comprises those costs incurred by the charity In the delivery of its activiti85 and services for its beneficiaries. It includes both costs that can be allocated dlrectly to such activities and those costs of an Indirect nature necessary to support them. Irrecoverable VAT is charged as a cost again8t the activity for which the expenditure was incurred. (fj Inter••t R•c•lvablo Interest on fvnds held on deposlt Is included when recelv8ble and the amount been measured reliably. 2. Crftl¢al accountlng estlmates and Judgements In the application of the chartty's accountlng policies, the trustees are requlred to make judgements. estimates and assurnptnns about the carrying amount of assets and liabilities that are not readlly apparentfrom other sources. The estlmates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estlmates. 10
NOTES TO THE FINANCIAL STATEMENTS FOR IB NETWORKS TRUST FOR THE YEAR ENDED 31 JULY 2024 The estimates and underlying assumptions a revlthved on an ongolng basis. Revisions to accounting estimates are recognised in the perlod in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future perlod8. 3. Donatlon• and l•gacl UnrMtrlct•d R•8tr1ctod Total Fund8 Fund8 Funds 2024 2024 2024 Total Fund• 2023 Appeal8 and donation8 Gift Aid Tax reclalmed 2,176 812 14,785 3,076 27W1 26,941 3,888 30M29 57,180 1,383 68,663 288 The 2023 balance of £58,563 wa8 made up of £6,021 unr88tricted and £62,542 restricted. 4. Total RMource• Exp•nd•d Unr••trlct•d R6•trlct•d Govornan¢• Fund• Fund8 2024 2024 2024 T¢)tal Fund• 2024 T¢)lal Fund• 2023 Printlng, postage and 8tatlonery Subscriptlons and project donation8 Sundry and other cost8 Trav81 and subslstsnce Accountancy f888 781 781 558 700 29,220 29,920 54,078 598 764 792 792 920 2,321 29,220 792 32,333 06,908 S. D•btorn 2024 2023 Acuued income 6. ¢rg&1119 2024 2023 Accruals Trn8te•s None of the Trustees received ary remuneration or benefits from the charity during the year. 11
NOTES TO THE FINANCIAL STATEMENTS FOR IB NETWORKS TRUST FOR THE YEAR ENDED 31 JULY 2024 Taxatlon The company is a registered charity and Is therefore exempt from tax. 9. Memb•r8 Llablllty The charity 13 a private company Ilmlted by guarantee and consequently does not have share capftal. Each of tha members is Ilable to contribute an amount not exceeding £10 towards the assets of the charity in the event of Ilquidation. 10. Relat P•rtlo8 Controlllng Entity The charity 18 controlled by the t(uste8s who are all director8 of the company. 11. Anaty81• of Fund• At1 Incomlng Ruource8 Trnn•hrn At 31 Augu•t Re•ou Exd•d Juty 2023 2024 13onornl Fund8 Unrestricted Income Fund R••trtct•d Fund• Ukralne M P Project Ukralne War Appeal Help Make Hope Lebanon Earthquake Appeal Turkeylsyria Leb8nonlLSESD Mlddle East Ww Appeal 455 190 1,128 612 3,835 9,190 (3,960) (8,700) 330 (1,128) (612) 1,740 7,829 (8,560) 1,009 12. Not AM•l• by Fund• unrestr1 R••trlet•d Fund• Funds 2024 2024 Total Fund8 2024 Total Fund• 2023 Net Current A888ts 12