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FOR THEYEARENDED31/12/2023 |
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TRUSTEES' REPORT |
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The trustees present their report and accounts for theyearended31/12/2023 |
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PRINCIPAL ACTIVITIES |
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The principal activity of the charity in theyearunder review wasthe relief of financial hardship of people belonging to the Coptic faith living in Egypt, Africa and Europe. |
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STRUCTURE GOVERNANCE AND MANAGEMENT |
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The Charity is constituted as a Company limited by guarantee, without a share capital, and is therefore governed by a Memorandum and Articles of Association. It is registered with Charity commission.
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The Charity is organised so that the Members of the charity meet regularly to manage the affairs of the charity. The secretary is in charge of the day to day running of the charity.
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The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practise (SORP) in preparing the annual report and financial statements of the charity. |
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OBJECTS OF THE CHARITY PRINCIPAL ACTIVITIES AND ORGANISATION OF OUR WORK |
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The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
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The charity's object and its principal activity continues to be the relief of financial hardship of people belonging to the Coptic faith living in Egypt, Africa and Europe. The trustees receive gift aid donations from Coptic families residing in the UK. These are expended in helping the poor families residing in Egypt. The funds are disbursed by community and religious elders.
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The charity is organised so that the trustees meet regularly to manage its affairs. We are grateful to all the volunteers who have given their time and energy in the furtherance of the work of the Charity. Our special thanks are due to the numerous donors who have provided us with the funds necessary for the Charity to continue with its work. We would not be able to operate without their wholehearted generosity. |
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DEVELOPMENTS ACTIVITIES AND ACHIEVEMENTS THIS YEAR |
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The trustees consider that the performance of the charity this year has been satisfactory. The levels of donations for 2023 were higher by 30% compared to the level of 2022. |
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TRANSACTIONS AND FINANCIAL POSITION |
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The statement of Financial Activities shows a net inflow of £4,886 for the year. The generosity of the community in providing donations of £81,036 for the year was appreciated by the trustees. |
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FOR THEYEARENDED31/12/2023 |
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TRUSTEES' REPORT |
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RESERVES |
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The present level of funding is adequate and the trustees consider the financial position of the charity to be satisfactory. It is the intention of the charity not to retain funds beyond its immediate needs of up to six months in the year. |
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DIRECTORS AND TRUSTEES |
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All directors of the company are also trustees of the charity and these are set out on page 1 of the accounts. All the trustees, named therein, served throughout the period. The Board has the power to appoint additional trustees as it considers fit to do so. |
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RISK MANAGEMENT |
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The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. |
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TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS |
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The trustees are required by company law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the trustees are required to:
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a) select suitable accounting policies and apply them consistently.
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b) make judgements and estimates that are reasonable and prudent.
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c) state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements.
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d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
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The trustees are responsible for keeping proper accounting records which disclose reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. |
This report was approved by the Board of Trustees on16/09/2024 |
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Sami Selim |
Trustee |
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Statement of Financial Activities | |
for the year ended31/12/2023 | |
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| | | | | | | | 2023 | | 2022 |
| | | | Unrestricted funds | | Restricted funds | | Total | | Total |
| | | | £ | | £ | | £ | | £ |
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Income | | | | | | | | | | |
Income from generated funds | | | | | | | | | | |
Donations and legacies | | | | 71,065 | | - | | 71,065 | | 52,325 |
Other trading activities | | | | 9,971 | | - | | 9,971 | | 9,749 |
Total Income and endowments | | | | 81,036 | | - | | 81,036 | | 62,074 |
Expenses | | | | | | | | | | |
Costs of generating funds | | | | | | | | | | |
Expenditure on Charitable activities | | | | 76,150 | | - | | 76,150 | | 62,850 |
Total Expenses | | | | 76,150 | | - | | 76,150 | | 62,850 |
Net gains on investments | | | | | | | | | | |
Net Income | | | | 4,886 | | - | | 4,886 | | (776) |
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Gains/(losses) on revaluation of fixed assests | | | | | | | | | | |
Net movement in funds: | | | | | | | | | | |
Net income for the year | | | | 4,886 | | - | | 4,886 | | (776) |
Total funds brought forward | | | | 22,428 | | - | | 22,428 | | 23,204 |
Net funds carried forward | | | | 27,314 | | - | | 27,314 | | 22,428 |
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This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities | |
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BALANCE SHEET AT 31/12/2023 |
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CURRENT ASSETS | | | | | | | | | | |
Debtors (amounts falling due within one year) | | 3 | | 14,075 | | | | 17,750 | | |
Cash at bank and in hand | | | | 14,339 | | | | 5,628 | | |
| | | | 28,414 | | | | 23,378 | | |
CREDITORS: Amounts falling due within one year | | 4 | | 1,100 | | | | 950 | | |
NET CURRENT ASSETS | | | | | | 27,314 | | | | 22,428 |
TOTAL ASSETS LESS CURRENT LIABILITIES | | | | | | 27,314 | | | | 22,428 |
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CAPITAL AND RESERVES | | | | | | | | | | |
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Unrestricted funds | | 6 | | | | | | | | |
General fund | | | | | | 27,314 | | | | 22,428 |
| | | | | | 27,314 | | | | 22,428 |
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For the year ending 31/12/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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Approved by the board of trustees on 16/09/2024 and signed on their behalf by | | | | | | | | | | |
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Sami Selim | | | | | | | | | | |
Trustee | | | | | | | | | | |
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