**REGISTERED COMPANY NUMBER: NI632538 (Northern Ireland) REGISTERED CHARITY NUMBER: 104517** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 July 2024** **for** **Project Romania** R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD **Project Romania** **Contents of the Financial Statements for the Year Ended 31 July 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Independent Examiner's Report**||2|| |**Statement of Financial Activities**||3|| |**Balance Sheet**||4|| |**Notes to the Financial Statements**|5|to|8| |**Detailed Statement of Financial Activities**||9|| **Project Romania** ## **Report of the Trustees for the Year Ended 31 July 2024** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** NI632538 (Northern Ireland) ## **Registered Charity number** 104517 ## **Registered office** 20 Thornburn Road Newtownabbey Co. Antrim BT36 7JA ## **Trustees** Mrs J Croker Mrs F Farmer N Farmer S P W Wallace ## **Company Secretary** ## **Independent Examiner** R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD Approved by order of the board of trustees on 4 October 2024 and signed on its behalf by: Mrs F Farmer - Trustee Page 1 ## **Independent Examiner's Report to the Trustees of Project Romania** I report on the accounts of the company for the year ended 31 July 2024, which are set out on pages three to eight. ## **Respective responsibilities of charity trustees and examiner** As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 65 of the Charities Act - follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act - state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. ## **Independent examiner's statement** I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Mrs Tracy Kearney R Savage & Company Accountants & Taxation Consultants Old Bank House 2 Crossgar Road Saintfield Ballynahinch Co. Down BT24 7BD 4 October 2024 Page 2 **Project Romania** ## **Statement of Financial Activities for the Year Ended 31 July 2024** |||31.7.24|31.7.23| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||52,058|50,287| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Romania Charity||69,821|47,896| |**NET INCOME/(EXPENDITURE)**||(17,763)|2,391| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||58,317|55,926| |**TOTAL FUNDS CARRIED FORWARD**||40,554|58,317| The notes form part of these financial statements Page 3 ## **Project Romania** ## **Balance Sheet** ## **31 July 2024** |||31.7.24|31.7.23| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**FIXED ASSETS**|||| |Tangible assets|4|13,350|13,350| |**CURRENT ASSETS**|||| |Cash at bank||27,204|44,967| |**NET CURRENT ASSETS**||27,204|44,967| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||40,554|58,317| |**NET ASSETS**||40,554|58,317| |**FUNDS**|5||| |Unrestricted funds||40,554|58,317| |**TOTAL FUNDS**||40,554|58,317| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 4 October 2024 and were signed on its behalf by: F Farmer - Trustee The notes form part of these financial statements Page 4 **Project Romania** ## **Notes to the Financial Statements for the Year Ended 31 July 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. Page 5 continued... **Project Romania** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 July 2024** ## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**INCOME AND ENDOWMENTS FROM**|||| ||Donations and legacies|||50,287| ||**EXPENDITURE ON**|||| ||**Charitable activities**|||| ||Romania Charity|||47,896| ||**NET INCOME**|||2,391| ||**RECONCILIATION OF FUNDS**|||| ||Total funds brought forward|||55,926| ||**TOTAL FUNDS CARRIED FORWARD**|||58,317| |**4.**|**TANGIBLE FIXED ASSETS**|||| |||||Motor| |||||vehicles| |||||£| ||**COST**|||| ||At 1 August 2023 and 31 July 2024|||13,350| ||**NET BOOK VALUE**|||| ||At 31 July 2024|||13,350| ||At 31 July 2023|||13,350| |**5.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.8.23|in funds|31.7.24| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|58,317|(17,763)|40,554| ||**TOTAL FUNDS**|58,317|(17,763)|40,554| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|52,058|(69,821)|(17,763)| ||**TOTAL FUNDS**|52,058|(69,821)|(17,763)| Page 6 continued... **Project Romania** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2024** ## **5. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** ||Net|| |---|---|---| ||movement|At| |At 1.8.22|in funds|31.7.23| |£|£|£| |**Unrestricted funds**||| |General fund
55,926|2,391|58,317| |**TOTAL FUNDS**
55,926|2,391|58,317| |Comparative net movement in funds, included in the above are as follows:||| |Incoming|Resources|Movement| |resources|expended|in funds| |£|£|£| |**Unrestricted funds**||| |General fund
50,287|(47,896)|2,391| |**TOTAL FUNDS**
50,287|(47,896)|2,391| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.8.22|in funds|31.7.24| ||£|£|£| |**Unrestricted funds**|||| |General fund|55,926|(15,372)|40,554| |**TOTAL FUNDS**|55,926|(15,372)|40,554| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|102,345|(117,717)|(15,372)| |**TOTAL FUNDS**|102,345|(117,717)|(15,372)| continued... Page 7 **Project Romania** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2024** ## **6. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 July 2024. Page 8 ## **Project Romania** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Volunteers expenses
Haulage
Grants to institutions
Grants to individuals
**Support costs**
**Management**
Postage and stationery
Advertising
Sundries
Travel
Motor Expenses
**Finance**
Bank charges
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 July 2024**
31.7.24
31.7.23
£
£
52,058
50,287
52,058
50,287
4,800
4,800
5,240
5,100
51,455
29,878
3,000
3,000
64,495
42,778
6
43
100
244
338
1,023
2,002
647
2,216
2,491
4,662
4,448
124
142
540
528
69,821
47,896
(17,763)
2,391|**Detailed Statement of Financial Activities**
**for the Year Ended 31 July 2024**
31.7.24
31.7.23
£
£
52,058
50,287
52,058
50,287
4,800
4,800
5,240
5,100
51,455
29,878
3,000
3,000
64,495
42,778
6
43
100
244
338
1,023
2,002
647
2,216
2,491
4,662
4,448
124
142
540
528
69,821
47,896
(17,763)
2,391| |---|---|---| |||| |||50,287
4,800
5,100
29,878
3,000| |||42,778
43
244
1,023
647
2,491| |||4,448
142
528| |||47,896| |||2,391| This page does not form part of the statutory financial statements Page 9