GREEN WINGS PROJECT
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net surplus of £43,631 for the year, bringing total income to £363,310. However, the charity holds negative free reserves of £187,002, a position primarily attributed to a non-repayable trustee loan of £254,749. The trustees consider the charity a going concern based on expected future income streams and donor commitment, despite noting that reserves do not provide a large cushion against deterioration.
What the accounts disclose
“The main source of income was unrestricted donations and gifts totaling £363,310.”
“The trustees aim to maintain a minimum level of unrestricted funds (free reserves) to cover operational needs.” — page 22
“A loan from members stands at £254,749.” — page 22
“There were no transactions with related parties in the year, except donations and offering from trustees.” — page 39
“A loan from members stands at £254,749.” — page 22
“There were no transactions with related parties in the year, except donations and offering from trustees.” — page 39
Trustees
- Jingchen Liuchair
- Bo Wei Mr.
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £363k | £320k |
Common questions
Is GREEN WINGS PROJECT financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net surplus of £43,631 for the year, bringing total income to £363,310. However, the charity holds negative free reserves of £187,002, a position primarily attributed to a non-repayable trustee loan of £254,749. The trustees consider the charity a going concern based on expected future income streams and donor commitment, despite noting that reserves do not provide a large cushion against deterioration. Its FY2024 accounts were independently examined.