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Esperanto-Asocio de Britio
Report of the Trustees for the Year Ended 31st October 2001
The trustees are pleased to present their report together with the summarised accounts of the charity for the year ended 31st October 2001. A full (i.e. non-summary) financial statement is available to members of the association from the EAB office; it includes legal and administrative information, and complies with current statutory requirements, the constitution and the Statement of Recommended Practice (2000) "Accounting and Reporting by Charities".
Objects of the Association: The aims of the charity are to advance the education of the public in the international language Esperanto.
Organisation, Subcommittees, etc.: The trustees are members of the Management Committee of the Esperanto-Asocio de Britio, elected by the Annual General Meeting to serve until the end of the next AGM. The director of Development is appointed by the trustees to mange the operations of the charity. Sub-committees and individuals are appointed by the Management Committee to carry out specific tasks, requiring feedback to the Committee.
Investment Powers: Under the constitution the charity has power to make investments as the trustees see fit.
Related Parties: The charity has relations with several other Esperanto organisations both in Britain and abroad.
Review of Activities: In February 2001, the Director of Development was appointed part-time, to oversee the move from Ipswich, among his other duties. The Annual General Meeting of the association took place in London on 31st March 2001. In April 2001, the Association moved its registered office to temporary accommodation at Wedgwood Memorial College, Barlaston. In September 2001, permanent part-time office staff were employed. Also in September, the lease Agreement was signed with Stoke-on-Trent City Council, allowing the building works to proceed at Barlaston to provide accommodation for the Butler Library and the registered office. In October 2001 new IT equipment was purchased for the office. The Association published six editions of its newsletter to members - EAB Update - in which the Director of Development reported activities and developments.
Volunteer and staff value: The trustees are indebted to many devoted volunteers, teachers, examiners and administrators, who have worked for the Association during the year. They would also like to express their appreciation to the staff, who deserve much credit for working with enthusiasm and skill in difficult circumstances this year.
Future strategy: The trustees reviewed future strategy at a planning workshop in June 2001. The Director of Development will work with the Committee to expand the educational and publicity functions of the Association. The modernised mail order book service and cassette and lending library will be publicised.
Risk management:As a small charity we are not required to have formal risk management procedures, however in 1997 the trustees carried out a detailed forward financial review and set in train a process for selling the London property and relocating to premises in a less expensive location. At the same time, internal audit sought ways of simplifying and modernising operations, reducing overheads and ensuring the financial future by using the proceeds left from the sale after the move, minimising risk as far as possible.
Reserves: The level of free reserves has been kept fairly high until all costs relating to the building and move have been completed. It is prudent to do so, to ensure financial flexibility.
Investment policy: The trustees decided to invest in specialised unit trusts, designed for the charity sector, to meet the need for both income and growth. The money is held in four different charity investment companies in order to spread risk. When the works and move have been completed, further investments may be considered, but in the current financial climate the trustees have decided to be cautious.
Responsibilities of the trustees in relation to the financial statements: Law applicable to charities in England and Wales requires the trustees to prepare financial statements at the end of each financial year which give a true and fair view of the Associationís financial activities during the year and of its financial position at the end of the year. In doing so the trustees are required to:
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
The document was approved by the Trustees and signed on their behalf by the Associationís president Edmund Grimley Evans on 9th February 2002
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