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 pU￿oseS 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..
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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 ru￿enCY 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 counte￿artieS 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"
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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
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