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REGISTERED COMPANY NUMBER: 08402500 (England and Wales)
REGISTERED CHARITY NUMBER: 1154827














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

ONESKY AIR

ONESKY AIR






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Statement of Financial Position 4 to 5

Notes to the Financial Statements 6 to 9

ONESKY AIR (REGISTERED NUMBER: 08402500)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
Proporta Education Foundation is a charity with the aim of providing education for financially poor, yet academically capable children in Sri Lanka.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity was incorporated on 14 February 2013 and to date it has raised donations of over £50,000. This year donations of £27 were received and grants of £934 were made to support the schooling of the children in Sri Lanka. The charity will continue to expand and promote the opportunities it has to offer.

FINANCIAL REVIEW
Reserves policy
The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. The trustees will continue to review the financial affairs of the charity with the aim to increase income, cut costs and to improve overall control of its operations. The majority of costs incurred by the charity are either directly related to charitable activities or support costs.

The trustees consider that the present level of funding will be adequate to support the continuation of the charity and for it to fulfil its obligations.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
Appointment of trustees is governed by the Trust Deed of the charity. The Trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee according to the Trust Deed.

All trustees are already familiar with the practical work of the charity. If new trustees were to be appointed, short training sessions would be undertaken to familiarise new trustees with the charity and the context within which it operates.

Organisational structure
The charity is organised so that the trustees meet regularly to manage its affairs.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08402500 (England and Wales)

Registered Charity number
1154827


ONESKY AIR (REGISTERED NUMBER: 08402500)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 APRIL 2024

Registered office
St James' Hall, Mill Road
Lancing
West Sussex
BN15 0PT

Trustees
M R A Coombes
G J Monson

Approved by order of the board of trustees on 31 January 2025 and signed on its behalf by:





M R A Coombes - Trustee

ONESKY AIR

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 27 954

EXPENDITURE ON
Raising funds 2 114 1,924

Charitable activities
Grants to overseas charities 933 436
Total 1,047 2,360

NET INCOME/(EXPENDITURE) (1,020 ) (1,406 )


RECONCILIATION OF FUNDS
Total funds brought forward 28,206 29,612

TOTAL FUNDS CARRIED FORWARD 27,186 28,206

ONESKY AIR (REGISTERED NUMBER: 08402500)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank 27,186 28,206

NET CURRENT ASSETS 27,186 28,206

TOTAL ASSETS LESS CURRENT
LIABILITIES

27,186

28,206

NET ASSETS 27,186 28,206
FUNDS 5
Unrestricted funds 27,186 28,206
TOTAL FUNDS 27,186 28,206

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


ONESKY AIR (REGISTERED NUMBER: 08402500)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2025 and were signed on its behalf by:





M R A Coombes - Trustee





G J Monson - Trustee

ONESKY AIR

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


ONESKY AIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. RAISING FUNDS

Raising donations and legacies
2024 2023
£    £   
Support costs 114 1,924

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 954

EXPENDITURE ON
Raising funds 1,924

Charitable activities
Grants to overseas charities 436
Total 2,360

NET INCOME/(EXPENDITURE) (1,406 )


RECONCILIATION OF FUNDS
Total funds brought forward 29,612

TOTAL FUNDS CARRIED FORWARD 28,206


ONESKY AIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. MOVEMENT IN FUNDS
Net
movement At
At 1.5.23 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 28,206 (1,020 ) 27,186

TOTAL FUNDS 28,206 (1,020 ) 27,186

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 27 (1,047 ) (1,020 )

TOTAL FUNDS 27 (1,047 ) (1,020 )


Comparatives for movement in funds

Net
movement At
At 1.5.22 in funds 30.4.23
£    £    £   
Unrestricted funds
General fund 29,612 (1,406 ) 28,206

TOTAL FUNDS 29,612 (1,406 ) 28,206

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 954 (2,360 ) (1,406 )

TOTAL FUNDS 954 (2,360 ) (1,406 )

ONESKY AIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.5.22 in funds 30.4.24
£    £    £   
Unrestricted funds
General fund 29,612 (2,426 ) 27,186

TOTAL FUNDS 29,612 (2,426 ) 27,186

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 981 (3,407 ) (2,426 )

TOTAL FUNDS 981 (3,407 ) (2,426 )

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2024.