FINANCIAL REVIEW
Polish Abroad accounts are kept and prepared in accordance with The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 . This legislation applies to all registered charities and sets out:
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the form and content of charity accounts (receipts and payments or accruals accounts)
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the form and content of the trustees’ annual report
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the level of external scrutiny required, i.e. independent examination or audit.
As per the regulations Polish Abroad has prepared receipts and payments accounts with unqualified report for a charity that is not a company and has an income of £250,000 or less.
FINANCIAL PERFORMANCE
Financial performance in the year to 5th April 2024 has been broadly consistent with the trustee’s forecasts and expectations.
The year ended with fund balance of £48,659 (compared to £36,633 for the same date last year) although this is based on the receipts and payments accounting basis. Detailed accounts can be found on pages 7-10.
INCOME
Income receipts for the year totalled £50,574.
Polish Abroad income is generally healthy and remains consistent with previous performance.
The income shows £9,621 of unrestricted funds.
From funding applications made for 2023/2024 financial year we have been awarded the following:
| Stowarzyszenie “Wspólnota Polska” (KPRM) | £4483 |
|---|---|
| The Executive Office – MEDF | £9750 |
| Consulate General of the Republic of Poland | £520 |
| The National Lottery Community Fund (From 1stSeptember 2022 – 31stAugust 2024) |
£43,440 |
| Allstate NI | £2,000 |
Out of restricted grants £9,750 was still to be paid by the funders as the payments were not received by 5th April 2024.
The fees from parents relating to the Polish Abroad Saturday School (monthly fees, clubs and other fees) totalled £7,621.
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EXPENDITURE
Expenditure for the year totalled £38,548 – a slight increase on the previous year (£34,927). Again, the categoryby-category analysis which follows in the full accounts will demonstrate that expenditure is well managed and controlled. There are no outstanding liabilities.
CHEQUES NOT CLEARED AT BANK ON 5TH APRIL 2024 AND OTHER LIABILITIES
On 5[th] April 2024 there were cheques not cleared at the bank totalling £2,480.
ASSETS
Apart from monetary assets Polish Abroad also has other assets as listed on page 8. The value of the assets is difficult to estimate because of the age of the items listed; however, purchase prices are listed in the accounts.
MAJOR RISKS
In our Annual Report and Statement of Accounts for the year ended 5[th] April 2024 we have not identified any major risks.
Approved and adopted by the Board and Members at Annual General Meeting on 30[th] November 2024 and signed on their behalf:
……………………………….. ………………………………..
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ACCOUNTS
| Charity Name: |
Charity Name: |
Charity No. | Charity No. | Charity No. | |
|---|---|---|---|---|---|
| Polish Abroad | NIC102361 | ||||
| Receipts and payments accounts | |||||
| For the period from |
06/04/2023 | till | 05/04/2024 | ||
| Section A Receipts and payments | |||||
| Unrestricted funds |
Restricted funds |
Total funds | Last year | ||
| to the n | earest £ | ||||
| A1 Receipts | |||||
| Grants | 2,000 | 40,953 | 42,953 | 38,126 | |
| PASS project fees | 7,621 | - | 7,621 | 12,434 | |
| Other charitable receipts | - | - | - | - | |
| A1 Total receipts(Gross income for the Annual Return) |
9,621 | 40,953 | 50,574 | 50,560 | |
| A2 Payments | |||||
Polish Abroad SaturdaySchool - Facilitators' Fees |
222 | 20,338 | 20,560 | 20,322 | |
| PASS Venue Hire | - | 5,440 | 5,440 | 5,295 | |
| PASS Resources | 358 | 1,416 | 1,774 | 2,286 | |
| PASS Cultural Celebrations & Events | 2,412 | 4,223 | 6,635 | 3,162 | |
| Insurance | - | 394 | 394 | 388 | |
| Office rent | - | 1,740 | 1,740 | 1,740 | |
| Bank charges | 212 | - | 212 | 200 | |
| Transport | 307 | 920 | 1,227 | 200 | |
| Otherproject costs | 506 | 60 | 566 | 1,334 | |
| **A2 Totalpayments ** | 4,018 | 34,530 | 38,548 | 34,927 | |
| Net of receipts/(payments) | 5,603 | 6,423 | 12,026 | 15,633 | |
| A3 Transfers between accounts | - | - |
- |
13,000 | |
| A4 Cash funds lastyear end | 36,633 | - | - |
- | |
| Cash funds thisyear end | 42,236 | 6,423 | 48,659 | 36,633 |
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| Polish Abroad - NIC102361 | Polish Abroad - NIC102361 | Polish Abroad - NIC102361 | Polish Abroad - NIC102361 | Polish Abroad - NIC102361 | Period end date: till | Period end date: till | Period end date: till | Period end date: till | 05/04/2024 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Section | B Statement of assets and | liabilities at the end of the period | |||||||||
| Categories | Details | Funds in account | Total funds | Last year | |||||||
| to nearest £ | |||||||||||
| B1 Cash funds |
Polish Abroad | 25,520 | 25,520 | 16,030 | |||||||
| Saturday School | 23,139 | 23,139 | 20,603 | ||||||||
| Other | - | - | - | ||||||||
| Total cash funds | 48,659 | 48,659 | 36,633 | ||||||||
| Unrestricted funds |
Restricted funds |
Total funds | Last year | ||||||||
| Details | to nearest £ | ||||||||||
| B2 Other monetary assets |
TEO - MEDF | - | 9,750 | 9,750 | - | ||||||
| Other | - | - | - | - | |||||||
| - | 9,750 | 9,750 | - | ||||||||
| B3 Other assets |
Price at purchase to nearest £ |
Year of purchase |
Comments | ||||||||
| Toshiba Satellite Pro L850 | 585.00 £ |
2012 | Obsolete | ||||||||
| ASUS VivoBook 14 K403J | 589.00 £ |
2021 | |||||||||
| ASUS VivoBook 14 K403J | 589.00 £ |
2021 | |||||||||
| ASUS VivoBook 14 K403J | 589.00 £ |
2021 | |||||||||
| Brother HL-L3230CDW | 199.00 £ |
2021 | |||||||||
| JBL-Flip 5 Portable Bluetooth Speaker | 99.00 £ |
2021 | |||||||||
| JBL-Flip 5 Portable Bluetooth Speaker | 99.00 £ |
2021 | |||||||||
| Digital Projector Epson EB LCD XGA 2600Lm | 370.00 £ |
2012 | |||||||||
| ViewSonic PA503X | 322.96 £ |
2021 | |||||||||
| Projector Screen Metroplan Tripod Screen | 85.00 £ |
2012 | |||||||||
| 4G router Archer MR400 | 113.49 £ |
2021 | |||||||||
| Waterproof Tent Marquee | 100.00 £ |
2015 | Obsolete | ||||||||
| Books, games, resource | s | 700.00 £ |
2008-2021 | Approx. | |||||||
| Details | Fund to which liability relates |
Amount due (optional) |
Last year | ||||||||
| B4 Liabilities |
Cheque not cleared | Unrestricted | - | - | |||||||
| Cheque not cleared | Restricted | 2,480 | - | ||||||||
| Other | N/A | - | - | ||||||||
| 2,480 | - |
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Polish Abroad - NIC102361 Notes
| Analysis of receipts and payments | ||||||||
| 1 Grants | ||||||||
| Grants awarded for the given financial year (grant payments in accounts may relate to different financial years depending on the payment date of backdated claims) |
Unrestricted funds |
Restricted funds |
Total current period |
Total last period |
||||
| to nearest £ | to nearest £ | to nearest £ | to nearest £ | |||||
| Minority Ethnic Development Fund | - | 9,030 | 9,030 | 9,750 | ||||
| Konsulat Generalny RP w Belfascie | - | 520 | 520 | 600 | ||||
| The National LotteryCommunityFund | - | 26,520 | 26,520 | - | ||||
| Allstate NI | 2,000 | - | 2,000 | - | ||||
| Stowarzyszenie Wspolnota Polska | - | 4,483 | 4,483 | 2,301 | ||||
| PSU Newry | - | 400 | 400 | |||||
| Total | 2,000 | 40,953 | 42,953 | 12,651 | ||||
| 2 Gross receipts from other sources | ||||||||
| Unrestricted funds |
Restricted funds |
Total current period |
Total last period |
|||||
| to nearest £ | to nearest £ | to nearest £ | to nearest £ | |||||
| Parental fees relatingto Polish Abroad SaturdaySchool | 7,621 | - | 7,621 | 12,434 | ||||
| Total | 7,621 | - | 7,621 | 12,434 |
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