Tbe Pbilippines Aid Project limited Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable coinpany for the year ended 30 September 2023. Objectives and activities Objects and aims We carry oui our purposes by receiving goods at our shop.Items ihat are useful in other countries are stored packed and shipped, all other items are sold in the sold in the shop and raise finance enables shipping. which amounts to approximately 8 large larges boxes per month. Financial donation enable health care.educational help and the purchase of needed items nol available to send. Boxes are received in other countries are distributed by reliable trustworthy Inissionaries and organisalions who deliver them to those in need. The Charity collects goods for resale and to forward out to The Philippines for tlie benefit of the deprived people of thal area of the world. Donations and acquired objects that would benefit the lives of the individuals living in the Philippines are sent out to aid these impoverised people in ihal area. Publlc beneflt The direct benefils flowing from the purpose include.. Ihe relief of poverty by providing food, clothing household and personal items, the outcome of this is a reliefof distress, malnutrition and raising of general living slandards bringing dignily and hope. -the opportunity to access help in leaming practical skills, we anticipate that the outcome of this will be that individuals will find employinenl orland become self sufficient and so raise their own living standards. Also benefit will coine through the supply of geiierdl 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 to access medical care and education regarding self care, These benefit5 can be demonstrated through feedback from beneficiaries in the forn] of written reports and photographic evidence and minutes 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 Philippines and Zambia. Those eho benefil will be living in povety, have no financial means of assessing health care. education and general educational resources. 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 fijlfilling our pUoseS that are not donated or donated in small quantities. The trustees confinn that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Trustees and officers The trustees and officers serving during ihe year and since the year end were as follows.. Page 3
The Philippines Aid Project limited Trustees, Report 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 ObJecllve,s ftndpolicles The charity's activilies expose it to a number of financial risks including credit risk, casl) flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of Irusiees, which provide written priiiciples on the use of financial derivaiives to Inanage these risks. The charity does not Use derivalive financial inslrumenls for speculative purposes. Ca,fhflow rl,sk The charity's activities expose it primarily to the financial risks of changes in foreign ruenCY exchange rales and inleresi rales. The charity uses foreign exchange forward contracts and interest rate swap contracts lo hedge these exposures. Interest bearing assets and liabilities are held al fixed rate to ensure certainty of cash flow5. Credlr rl.sA 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 lo its trade receivables. The ainounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impainT]ent is Inade where there is an identified loss event wliich, based oil previous experience, is evidence of a reduclion in the recoverabilily of the cash flows. The credil risk on liquid fund5 and derivalive financial instruments is limited because the counteartieS are banks with high credit-rating5 assigned by international credit-raiing agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counlerparties 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-temi and short-terni debt finance. Further details regarding liquidity risk cali be found in the Statement of accounting policies in the financial slalements. Statement of trustees, responsibilities The truslees (who are also the direciors of The Philippines Aid Project limited for the purp05e5 of company law) are responsible for preparing the trnstees, report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 4
The Philippines Aid Project limited Trustees, Report Company law requires the trustees to prepare financial statements for each financial year. Under company law the Irustees inust not approve the financial stateineiits unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incomingi resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statem¢nts, the trustees are required to.. select suilable accounting poliLies and apply them consistently. observe the methods and principle5 in the Charities SORP. make judgements and estimates that are reasoiiable and prudent. state whether applicable accounting slandards, comprising FRS 102 have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the financial stateiiienls on the going concern basis unless il is inappropriate to presume Ihal the charitable coinpany will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time ihe tinancial position of the charitable compai)y and enable them to enSLsre that the financial statements comply with ihe Companies Act 2006. They are also responsible for safegyuarding the assets of the chariiable company and hence for taking reasonable steps for the preventiot) and detection of fraud and other iffegularities. The trustees are responsible for the mainteiiance and integrity of the corporate and financial inforniation included on the Charitable company's website. Legislation governing the pr¢paration and diss¢mination of financial statements Inay differ froii) legislation in other jurisdiciions. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make theinselves aware of any relevant audit inforniaiioii and lo establish ihat the charity's auditor is aware of thal inforinalion. The trustees confinn Ihal there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 12 March 2024 and signed on its behalf by.. Mr George Esler Trustee Mr John Siark Trustee Page 5