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COMPANY REGISTRATION NUMBER:
NI688129
CHARITY REGISTRATION NUMBER:
109226
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Unaudited Financial Statements |
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Year ended 31 May 2023
Directors' annual report (incorporating the director's report) |
1 |
|
|
Independent examiner's report to the directors |
6 |
|
|
Statement of financial activities (including income and expenditure account) |
7 |
|
|
Statement of financial position |
8 |
|
|
Statement of cash flows |
9 |
|
|
Notes to the financial statements |
10 |
|
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Directors' Annual Report (Incorporating the Director's Report) |
|
Year ended 31 May 2023
The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended
31 May 2023
.
Reference and administrative details
Registered charity name |
Water Drops Partnership Ltd |
|
|
Charity registration number |
109226 |
|
|
Company registration number |
NI688129 |
|
|
Principal office and registered |
30 Kiln Court |
office |
Banbridge |
|
BT32 4SQ |
|
|
The directors
|
R T J Briggs |
|
|
Mrs A M Briggs |
|
|
Rev D McComb |
(Appointed
12 June 2023) |
|
Rev Canon J McWhirter |
(Appointed
12 June 2023) |
|
Rev S McWhirter |
(Appointed
12 June 2023) |
|
|
|
Independent examiner |
Aubrey Campbell |
|
631 Lisburn Road |
|
Belfast |
|
BT9 7GT |
|
|
Structure, governance and management
Governing Document and Constitution of the Charity
Water Drops Partnership Ltd
is a company limited by guarantee, Company Number Nl688129 and accepted as charitable by HMRC under reference NI01300. It is registered with the Charity Commission for Northern Ireland, NIC109226. The company was incorporated on 12th May 2022 and was established under a Memorandum of Association which establishes the objects and powers of the company and is governed by its Articles of Association.
Recruitment and Appointment of Directors
The current directors are the initial directors on incorporation of the company and are also the members of the company. Additional directors may be appointed in due course if it is for the benefit of the running of the company.
Pay and remuneration
The directors receive no remuneration for their services as a director/trustee and are not employed by the company.
Organisational Structure
The charity is a private company, limited by guarantee. Currently all decisions are made by the two company directors. Meetings of the directors take place as and when required.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdom (accounting standards issued by the Financial Reporting Council in the UK, including 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)" and promulgated by the Institute of Chartered Accountants in Ireland. Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently
- make judgments and estimates that are reasonable and prudent
- state whether the financial statements have been prepared in accordance with applicable Accounting Standards and identify the standards in question, subject to any material departures being disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the company will continue as a going concern.
Objectives and activities
The charity's objects are specifically restricted to the following:
To endorse the Christian faith through word and deed by means of the following objects:
To relieve sickness and promote health in communities in East Africa and the developing world through the provision of clean and safe drinking water.
To relieve and prevent poverty for communities in East Africa and the developing world through access to clean water.
To focus on remote rural communities where few or no other relief/development organisations have reached.
To work alongside local churches established in the various communities and encourage the advancement of the Christian faith by practical example.
And as the directors may from time-to-time think fit.
Achievements and performance
The main focus of
Water Drops Partnership Ltd
is providing access to clean and safe drinking water for rural and remote communities across Kenya, with specific reference to Kajiado County in Southern Kenya. The strap line of 'Clean water changing lives' acknowledges that water, when it brings good health, gives people the energy to maximise their life opportunities in order to secure a better future. All Water Drops Partnership projects use the simplest technology that is possible to reduce maintenance and make the water supply sustainable. There are no restrictions on who can benefit from this water provision - decisions are made entirely on need.
Simply stated we want to 'Catch it - store it - use it.'
The idea of Water Drops was conceived in 2020 and initially operated as the working project of the charity known as Practical Christian Outreach (PCO). During this test period, we were trying to establish if the original operating model could actually become a reality.
After successfully completing three projects under PCO that fulfilled our aims and objectives at the time, the decision was made that full independent registration and incorporation as a Charity should be sought. This was achieved under the name of Water Drops Partnership Ltd.
Financial review
During this first year,
Water Drops Partnership Ltd
has been very privileged to receive many financial donations from individuals, parishes and other groups wishing to support the expansion of the work started under the auspices of Practical Christian Outreach. We also are indebted to our American donors, T+S Pyree and DSP Foundation who donated £92,654.79 to cover the purchase and maintenance of a suitable vehicle and refurbishment of a trailer. This will enable the work to be carried out in Kenya without the additional cost of renting an alternative vehicle. These funds will cover the running costs of the vehicle for a number of years. We are greatly indebted to the efforts of the late Stan Peterson and family to procure these funds and we dedicate this invaluable gift to his memory.
While we ended the financial year with £98,639 credit in the bank, this was split between
- Restricted Funds: £65,770 in Vehicle Fund; £12,688 in Projects Fund and £661 in Enabling/Support.
- Unrestricted Funds: £19,520. A good proportion of the Unrestricted Fund will be put towards future projects and the balance will be used towards Enabling/Support and the establishment of a Reserves pot in line with Good Governance.
The trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that the organisation can continue its activities and the financial statements for the year end 31st May 2023 can be approved. Projects will only be undertaken when sufficient funds are available or promised. If there are surplus funds from a project, they are transferred to the next suitable project/s.
Plans for future periods
Further project sites have been surveyed and fund-raising activities have been initiated to begin the implementation process. It is expected that a maximum of three visits to Kenya will be made in this coming year to the following project locations:
1. Oldonyo Oloolasho Community Storage: This remote community bordering with Tanzania have very limited rainfall. There is an existing underground rainwater storage system which was not completed at the time of construction. It has fallen into disrepair and requires substantial work to bring it back to a properly functioning water supply. Community representatives approached Water Drops Partnership Ltd to ask for assistance and after a full survey a project plan was put into place.
2. Boma Tank Storage: There are many homesteads (Bomas) across Kajiado County that are located too far away from the community storage tanks that have been built and therefore, they are not able to benefit from this water supply. So the Boma Tank initiative was established to bring a small 3,000 litre tank to their homesteads to be used for drinking water only. Selection will be made by the local community in conjunction with church and government leaders. It is anticipated that over 50 homesteads may be targeted with a Boma Tank and the expectation is that approx. 15 - 20 can be completed per visit.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The directors' annual report was approved on
29 August 2023
and signed on behalf of the board of trustees by:
Mrs A M Briggs |
|
Director |
Charity Secretary |
|
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Independent Examiner's Report to the Directors of
Water Drops Partnership Ltd |
|
Year ended 31 May 2023
I report to the directors on my examination of the financial statements of
Water Drops Partnership Ltd
('the charity') for the year ended 31 May 2023.
Responsibilities and basis of report
As the directors of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
1.
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2.
the financial statements do not accord with those records; or
3.
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4.
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Aubrey Campbell
Independent Examiner
631 Lisburn Road
Belfast
BT9 7GT
29 August 2023
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Statement of Financial Activities |
(including income and expenditure account) |
|
Year ended 31 May 2023
|
2023 |
|
Unrestricted funds |
Restricted funds |
Total funds |
Note |
£ |
£ |
£ |
|
|
|
|
Income and endowments
Donations and legacies |
5 |
15,560 |
110,379 |
125,939 |
Charitable activities |
6 |
3,960 |
18,816 |
22,776 |
|
-------- |
--------- |
--------- |
Total income |
19,520 |
129,195 |
148,715 |
|
-------- |
--------- |
--------- |
|
|
|
|
|
Expenditure
Expenditure on charitable activities |
7,8 |
– |
30,506 |
30,506 |
|
-------- |
--------- |
--------- |
Total expenditure |
– |
30,506 |
30,506 |
|
-------- |
--------- |
--------- |
|
|
|
|
|
|
-------- |
--------- |
--------- |
Net income and net movement in funds |
19,520 |
98,689 |
118,209 |
|
-------- |
--------- |
--------- |
|
|
|
|
Reconciliation of funds
Total funds brought forward |
– |
– |
– |
|
-------- |
--------- |
--------- |
Total funds carried forward |
19,520 |
98,689 |
118,209 |
|
-------- |
--------- |
--------- |
|
|
|
|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Statement of Financial Position |
|
31 May 2023
Current assets
Debtors |
12 |
19,570 |
|
Cash at bank and in hand |
98,639 |
|
|
--------- |
|
|
118,209 |
|
|
--------- |
|
Net current assets |
|
118,209 |
|
|
--------- |
Total assets less current liabilities |
|
118,209 |
|
|
--------- |
|
|
|
|
Funds of the charity
Restricted funds |
|
98,689 |
Unrestricted funds |
|
19,520 |
|
|
|
--------- |
Total charity funds |
13 |
|
118,209 |
|
|
|
--------- |
|
|
|
|
For the year ending 31 May 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the
board of trustees
and authorised for issue on
29 August 2023
, and are signed on behalf of the board by:
R T J Briggs |
Mrs A M Briggs |
Director |
Director |
|
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Year ended 31 May 2023
Cash flows from operating activities
Adjustments for: |
|
Interest payable and similar charges |
523 |
|
|
Changes in: |
|
Trade and other debtors |
(
19,570) |
|
--------- |
Cash generated from operations |
99,162 |
|
|
Interest paid |
(
523) |
|
-------- |
Net cash from operating activities |
98,639 |
|
-------- |
|
|
Net increase in cash and cash equivalents |
98,639 |
Cash and cash equivalents at beginning of year |
– |
|
-------- |
Cash and cash equivalents at end of year |
98,639 |
|
-------- |
|
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Notes to the Financial Statements |
|
Year ended 31 May 2023
1.
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 30 Kiln Court, Banbridge, BT32 4SQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2021. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 16.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the directors for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Limited by guarantee
The company is limited by guarantee and the liability of the members is limited to a sum not exceeding £10 in the event of a winding up.
5.
Donations and legacies
|
|
Unrestricted Funds |
Restricted Funds |
Total Funds 2023 |
|
|
£ |
£ |
£ |
|
|
|
|
|
Donations
|
Donations - restricted funds |
– |
110,379 |
110,379 |
|
Donations - unrestricted |
15,560 |
– |
15,560 |
|
|
-------- |
--------- |
--------- |
|
|
15,560 |
110,379 |
125,939 |
|
|
-------- |
--------- |
--------- |
|
|
|
|
|
6.
Charitable activities
|
|
Unrestricted Funds |
Restricted Funds |
Total Funds 2023 |
|
|
£ |
£ |
£ |
|
Income from charitable activities - restricted |
– |
18,816 |
18,816 |
|
Income from charitable activities - unrestricted |
3,960 |
– |
3,960 |
|
|
------- |
-------- |
-------- |
|
|
3,960 |
18,816 |
22,776 |
|
|
------- |
-------- |
-------- |
|
|
|
|
|
7.
Expenditure on charitable activities by fund type
|
|
Restricted Funds |
Total Funds 2023 |
|
|
£ |
£ |
|
Project costs |
30,506 |
30,506 |
|
|
|
|
8.
Expenditure on charitable activities by activity type
|
Activities undertaken directly |
Total funds 2023 |
|
£ |
£ |
|
Project costs |
30,506 |
30,506 |
|
|
-------- |
-------- |
|
|
|
|
9.
Independent examination fees
Fees payable to the independent examiner for:
Independent examination of the financial statements |
480 |
|
---- |
|
|
10.
Staff costs
The average head count of employees during the year was Nil. The average number of full-time equivalent employees during the year is analysed as follows:
|
2023 |
|
No. |
Number of volunteer staff |
2 |
|
---- |
|
|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11.
Trustee remuneration and expenses
Two Trustees received reimbursement of expenses on behalf of the company totalling £10,600.96. These reimbursements included: o Sundry office expenses. o Mileage allowance in connection with travelling to speaking engagements. o Components of labour and materials costs in Kenya where cash payments were necessary and due to Kenyan banking system these had to be made via Ronnie's Mpesa account. (Full audit trail held). o Daily allowance for Project Manager and Administrator while in Kenya to cover utilities and living expenses.
12.
Debtors
|
2023 |
|
£ |
Other debtors |
19,570 |
|
-------- |
|
|
13.
Analysis of charitable funds
Unrestricted funds
|
At 1 June 2022 |
Income |
Expenditure |
At 31 May 2023 |
|
£ |
£ |
£ |
£ |
General funds |
– |
19,520 |
– |
19,520 |
|
---- |
-------- |
---- |
-------- |
|
|
|
|
|
Restricted funds
|
At 1 June 2022 |
Income |
Expenditure |
At 31 May 2023 |
|
£ |
£ |
£ |
£ |
Restricted Funds |
– |
129,195 |
(30,506) |
98,689 |
|
---- |
--------- |
-------- |
-------- |
|
|
|
|
|
14.
Analysis of net assets between funds
|
Unrestricted Funds |
Restricted Funds |
Total Funds 2023 |
|
£ |
£ |
£ |
|
Current assets |
19,520 |
98,689 |
118,209 |
|
|
-------- |
-------- |
--------- |
|
|
|
|
|
15.
Analysis of changes in net debt
|
At 1 Jun 2022 |
Cash flows |
At 31 May 2023 |
|
£ |
£ |
£ |
Cash at bank and in hand |
– |
98,639 |
98,639 |
|
---- |
-------- |
-------- |
|
|
|
|
Water Drops Partnership Ltd |
|
Company Limited by Guarantee |
|
Notes to the Financial Statements (continued) |
|
Year ended 31 May 2023
16.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The charity transitioned to FRS 102 on 1 June 2021.
No transitional adjustments were required in the retained funds or income or expenditure for the year.