The Trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "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).
The charity's objective and its principal activity continues to be that of raising funds and awareness in order to rescue and restore monuments and works of art throughout the country of Croatia.
In planning our activities we have kept in mind the Charity Commission Guidance on Public Benefit at our trustee meetings. The focus of our activities continues to be the raising of public awareness of the art and culture of Croatia and to support the training of students in conservation, to supply books and scholarly publications to institutions and individuals and to assist with the preservation of ancient collections of books, historic textiles, gardens and works of art generally. Support has been provided by the Trust this year to Libraries and Museums which the public have access to.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trust has made the following unrestricted grants to organizations:-
Senoa Museum - £875
The trust continues to subscribe for publications and journals which are used in research.
Our main source of funds continues to be from donations. The income is applied to the grants made in the furtherance of the Charity's objectives.
The net result for the year was a surplus of £529 (2025: deficit of £704). At the end of the year our reserves stood at £658 (2025: £129).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to the forecast committed expenditure for the next three to six months. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The governing document authorises the Trustees to make and hold investments using the general funds of the charity.
The charity is a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association. The Charity is a registered Charity and the registration number is 1040187. The registered office is 34 Cadogan Square, London, SW1X OJL.
The Trustees who served during the year and who are also the directors for the purpose of company law and are collectively referred to throughout this report as Trustees, were:
None of the Trustees has any beneficial interest in the company. The board has the power to appoint additional Trustees as it considers fit to do so.
No formal training is given to the trustees but those who are selected all have an inherent interest in the objectives of the charity and its aims.
All decisions relating to the Trust are made by the trustees.
The Trustees' report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of International Trust For Croatian Monuments Limited for the year ended 31 March 2026, set out on pages 4 to 9 from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of International Trust For Croatian Monuments Limited and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than International Trust For Croatian Monuments Limited and the charity's Trustees as a body, for our work or for this report.
It is your duty to ensure that The International Trust for Croatian Monuments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The International Trust for Croatian Monuments Limited. You consider that The International Trust for Croatian Monuments Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of International Trust For Croatian Monuments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
International Trust For Croatian Monuments Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 34 Cadogan Square, London, SW1X 0JL.
The financial statements have been prepared in accordance with the charity's memorandum and articles of association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under gift aid or deed of covenant is recognised at the time of the donation.
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure which is directly attributable to specific activities has been included in these cost categories.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services.
None of the Trustees (or any persons connected with them) received any remuneration during the year.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
At the year end there was an amount of £417 owing to the trustee and director (2025: £417). The loan is interest free and repayable on demand. Donations of £1,000 were received from 1 trustee (or persons connected to them). This donation was made without any conditions attached.