The Philippines Aid Project limited Strategic Report for the Year Ended 30 September 2022 Tlie trustees, who are directors for the purposes of company law, present their strategic report for the y¢ar ended 30 September 2022, in compliance w'ith s414C of the Companies Act 2006. The strategic report was approved by the trusiees of the charity on 2 Januari, 2022 and signed on its behgAlf by., Mr George Esler Trustee Mr Johii Siark Trustee Page 2
The Philippines Aid Project limited Trustees, Report The Irusiees, who are directors for the purposes of company law, present the annual report together iyith the financial siatements ot the cliaritable company for the year ended 30 September 2022. Objective5 and activities Objecls and aims We carry out our purposes by receiving goods at our shop.Iiems that are useful in other countries are stored packed <ind shipped, all other items are sold in the sold in the shop and raisL Iiiiance cnabl¢s sl)ipping, which amounts to approxiinalely 8 larb¥e larges boxes per month. Financial donation enable .health care,educational help aiid the purchase of needed items not available to send. Boxes are received in other countries are distributed by reliable trustworthy niissionaries and orbjanisations who deliver ihein io those in need. Tli¢ Cliarity collects goods for resale and to forward out to The Philippines for the benefit of the deprived people ot"tliai area of tlie world. Donations and acquired objecls that would benefil the lives of the individuals living in the Philippines are sent out lo aid these impoverised people in that area. ObjeL'lives, .slrulegie.s and ac'livliles Amdlagaiion o]'The (jpen Door Ballyinoney The charity was requested lo take over anoilier charity called The Open Door Ballymoney With it canie assets stock and tunds wlien tlie old charity was dissolved This has impacied on IIIC CUlTent charity in th14 t there is now increased presuure on the directors to look after succently both cliarities which ave been amalagated together into oiie largei. ¢liarity The Directors hav¢ successfully achieved the full Amalabyation of the iwo charities Public beneJ71 The direcl benefits flowing from the purpose include: tlie relief of poverty by providing food, clothingy liousehold and personal iteins, the outcome of this is a reliefof distress, maliiutrilion and raising of general living standards bringing digynity and hope. -the opportiinity to access help in learning practical skills, we anticipate that the outcome of this will be Ihat individiials will find employment orland become self siifficient and so raise their own living? standards. Also benetit will come through Ihe supply of general resources for schools and for individual children, the outcome being that this will enable and enhance ongoing education, raised levels of heealth and wellbeing as financial assisstance is given lo access medical care and education regarding self care. These benefits can be demonstrated throug¥h feedback from beneficiaries in the fomi of written reports and pholOgFraphic evidence and minuies of meetings. We cannot identify any hann arising from our purposes. The charity's beneficiaries include people of all age groups. gender and religions in other countries but predominantly Philippine5 and Zambia. Those eho beiiefit will be living in poverty, have no financial means of assessing health care, education and general educational resource5. The only private benefit flowing from this puerpose is gained by local businesses. This is incidental and necessary because there are items that are beneficial in fiElfilling our purposes that are not donated or donated in small quantities. Page 3
The PhAlippines Aid Project limited Trustees, Report The trustees confinn that they have cornplied with ihe requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for Enoland and Wales. Trustees and offieers The trustees and otyicers serving during the year and since the year end were as follows.. Trustees: Deborah Lorimer Mr George Esler Mr John Stark Mrs Sandra Stark Mrs Emelia Baccol Mc Neice Mr William John Mc Neice Structure, governance and management Financial instruments Ohjeclive3' andpolicle.s The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquiditv risk. 'fhe use of financial derivalivcs is &)ov¢med by the charity's policie5 approved by the boai'd of iruslces, whicli provide written principle5 on the use of financial derivatives lo managie these risks. The charity does not use derivative financial instruments for speculative purposes. Co.%hflow risk The charity's activities expose il prirnarily to the financial risks of chaiiges in forei&Fn currency exchange rates aiid inleresl rale5. The charity uses foreign exchaiige forward contracts and interest rate swap contracts to hedge these exposiires. Interest bearing assets and liabilities are held at fixed rale lo ensure certainty of cash flows. Credlt risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a r¢duclion in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments. the charity uses a mixture of long-tenn and shon-temi debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 4
The Philippine.8 Aid Project limited Trustees, Report Statement of trustees, responsibilities The trLlStees (who are also the directors of The Philippines Aid Project limited for the purposes of company law) are responsible for preparing the Irusiees, IEPOrt aiid the financial statements in accordance with appl icabl¢ law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Praclice), including FRS 102 'The Financial Reporting Siaiidard applicable in the UK and Republic of Ireland Company laiv reqiiires Ihe trustees io prepare financial statements for each fiiiancial year. Under coinpany laiv the trustees musl noi approve tlie finanLial statemenls unless they are satisfied thal Ihev gFive a Irlie and tair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including its incoine and expenditure, of the charitable company for that period. In preparing these financial stateiiients, the Irustees are required to.. select suitable accounting policies and apply them consistently. observe tlie methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent: state whetlier applicable accounting standards, comprisinb FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial slalements on tlie going concern basis unless it is inappropriate to presume that the charitable Company will continiie in business. The trustees are responsible for keeping proper accounting records that can disclose with reasoiiable accuracy at any lime the finaiici<il posilioi) ofthe cliaritable company and enable Ihen) to ensure that the financial stalenients comply with the Compdnies Act 2006. They are also responsible for safegTuarding the assets of the charitable company and lience for lakingy reasonable steps for the prevention and detection of fraud and other irreg¥ularities. The trustees are responsible tor Ihe maintenance and integyrity of the corporate and tinancial iiitormatioii included on Ihc charitable Lompany's website. Legislation gFoverning th¢ preparation and disseminaiion of financial statemenis Inay differ from lebyislalion in other jurisdictions. The annual report was approved by the trustees ofthe charity on 2 January 2022 and signed on its behalf by.. Mr George Esler Trustee Mr John Stark Trustee Page 5