THE SREEPUR VILLAGE. BANGLADESH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Registered Charity No. 1085008 AZETS AUDIT SERVICES Greytown House 2211227 Hlgh Street Orpington Kent BR6 ONZ
THE SREEPUR VILLAGE, BANGLADESH coKrENTS Page Charily Information Report of the Ttuslees IThdeperent Audilorfs Report Statement of Finanual Activities Cornparative Statement of Financial Activities Balance Sheet 10 Note5 to th8 Financwl Statements
THE SREEPUR VILLAGE. BANGLADESH REFERENCE AND ADMINISTRATIVE DETAILS Patrons Dame Sarah Slorey Th8 L8dy TunniclrfFe PhD, BSC, FRSB, FLS Trust885 Ms Sofia Naila Haque Mr Abdul Karim Ms Pat Kerr MBE Mr Der8k Palmer Ms Janelle Portef Mrs Rubin8 Mary Porter MBE Charity R•gistration Numb8r 1085008 Prlnclpal Offl¢e 78 Beckenham Road Beckenham BR3 4ZD K•y Manag•m•nt The Trustees Banker HSBC 141 High Street Be¢kenham BR318X CAF Bank 25 Kings Hill Avenue King5 Hill West Malling ME19 4JQ Independent Examiner C Cooper FCCA Azet5 Audit Services Greytowri House 221- 227 High Street Orpington Kent BR6 ONZ Investment mana9er5.' rilney Investment Management Servies Limited BaskeNille House Centenary Souare Birmingham 81 2ND
THE SREEPUR VILLAGE, BANGLADESH REPORT OF THE TRUSTEES The Trustees pr8sent th8ir statutory report with the financial staternents of The Sreepur Village, Bangladesh f the period ended 31 December 2020. The Trustees have adopted the provisions of the Statement ol Recommended Practi ISORPI "Accounting and Reportin9 by Charities. IFRS 1021 in preparing the annual report and financial statements of the charity. The finar181 statements have been prepad in awordance with the ac(x)unting polic$ set out in notes to the accounts and comply with the charity's governing document. th& Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practi appli¢able to charities prep8ring their accounts H) accordance wrth the Finala1 Reporting Slandard applicabk in the UK wblished on 16 July 2014, as amended by bUltin 1 & 2. OBJECTIVES AND ACTIVITIES Objectives The objective of the Chanty is the relief of women, and childTen in neèd of care and protecaion. particularly those in the care of Shishu Polli PSUS Bangladesh. and in the UK or elsewhere, by providing a home and education or aid. The Trustees have paid due re9ard to guidance issued by the Charity Commission in deciding what activi15 the Charity Should undertake. The Charity's poli¢y is lo consutt aThl discuss wrth employees, through unh)ns. staff ¢oun¢ils and at rneetings. matters likely to affe¢l empk)yees' inter8Sts. Inforrnation of rnatters of concern to is given through information bulleting and r8POrts which seek tts achieve a common awareness on the part ol all ernployees ol the financial and economic factors affling the group's perforn)an. ApplICatn5 for empbyment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concemed. In the event of Members tsf staff becoming disabled, every eflort is made to ensure that there empk)yment within the Charity continues and Ihat th8 appropriate training is arranged. It is the policy of the Charity that the training, Caer devek)pment and promotion ol disabled persons shoul¢J, as lar as $sible. be identical to that of the other empk)yees. ACHIEVEMENTS AND PERFORMANCE 2020 mwked the thirty first anniversary of th8 opening of Shishu Polli Plus. Since April 2020 SUCCESS Project and Girls Night Shetter were shutdown. Still we dts not reopen as governrnent Still has kept shutdown schools, as SUCCESS project is related to schools and still there is not in a position to reopen girls shelter. Bul we are pLanning lo wpen both pr(orammes when COVID situation is improved. January lo March 2020 was 23 girls individuals and total ¥SIt5 We 209. The nurnber of SUCCESS children was 46. During lockdown last year. among them 3 girt8 C8rn8 lo Sr88pur and lived there lor a few months. Pal K81r and the management team at SPP continue to adjust lo changing employrnent opportunities for the mothers so that the vocational tr8ining programmes are update¢Y and kept as revant as FK)ssible. They have maintained ¢k)se lies with Ihe commLJnity and we reiVed grants in Bangladesh from HSBC together with donations ol goods. services and money from individuals and Ial companies. DBL. a Bangladeshi conglotnerate, continue to support us iri many ways including a local sponsorship programrne. We run an extensive pr&schoDI programme includiNg joint wtsrk with mothers and their children. We continue to emphasi2e early years play and swializalion. Our school now teaches Kindergarten through to Year 3, and older children attend the local village school where we employ a teacher as part of our agreement with the school. Following the training ol our staff by the Centre f Injury Prevention and Research Bangladesh in 2018 continue the Swmsafe swimming lessons. Each summer we raise sufficient funds in the UK to enable us lo conlinkje these lessons and give childreri the ability to prevent themselves land others) drowning. During our 2020 programrne 25 children learned how to swim 25 m8tres and to tread water and float. General activit$ went well with several support groups and Rotary Clubs running medical and dental '¢amps' on site.
THE SREEPUR VILLAGE, BANGLADESH REPORT OFTHETRUSTEES Sreepur Village Trade staff at Sreepjr are working hard lo buikl up beAI and online orders. We are also linkin9 to the training prraInres so that increasingly the rntslhers can be 'prOdcers, and eam sorne extra money whilst tearning valuable ski1I5. Mountain War8house placed an order for l-shirts thal is Currently being worked on and they also continue their generovs financial support tiMJether with donating inwme from their sample sabs. In 2020 we trained a small group of rnothers to make Christmas decorations from barnboo which w8r8 successfully sold in the UK- 185 boxes th four drfferenl designs in each box, with all proceeds being returned back to The Sreepur Village. Our mothers have also been tr8ined how make face masks which have also been sokl In the UK. Unfortunately Rob J8nkinsori retired fr(xn working on the Sreepur Card section so there were no sales in 2020 othw than old Stock that was in the UK We a very fortunate that Emma Cole and Natalie Manning in the UK office go well beyond their r8rn11 in their dedication lo the charity. Due to the COVID pandemic th8y have both worked full time from their home8 and meeting up Iwhen allowed within Government restridionsl. There has been no detrimental effect to the charity and our supporters continue to be as generou5 as ever wrth a very su¢cessful COVID Fundraising Campaign taking place. We also have our Trust Fundraiser Melanie Wowson based In Tel Aviv. Melanie remit in 2020 was to apply for grants," however a k)1 of loundations changed their focu5 to only assistin9 those charities struggling through COVID. Melanie's future focus wll be to wncenlrate on Corporate donors but Still appng f(x grants Whe applicable. FINANCIAL REVIEW OF THE PERIOD There has been a decrease of 1°/v in income the year. Pat and her siaff at SPP continue to reduce costs wherever possible, and we macle a decision lo transfer one surn of money (rather than twtsl during 2020 due to uncertainty that COVID bou9M. Thls has resutted in a ¢onsist deficit of £281,03512019.. £278.9491 however the money not tr8nsferred 15 being hekl in Bangladesh against running ¢osts in 2021. Our inve5trnent portfolio produee¢J gains of £52.879 and we (x)ntinuÈ to run 8 risk pot1folio with Tilney Investment Mgnagement S8rvices. We remain owners of the land in Tongi and have construded a sirnple one storey building. with a tin ro¢)f. to confirm tswnership and avoid squatters on the land. Dhaka is spreading out frorll the ntre. and this parcel of land will incr8ase in value and Can bring in a small income from rentals. We were left a 0t of land in Surrey from donor which is in the pr(Kess of being transferred into the tharity name. Tot81 ncOrne was £406,49412019.' £401.6561 principal from doTialions and legacies. Total expenditure was £687,52912019.. £680,605). The charity made a loss of £228,156 in the year12019.. £145,129). The toial funds rArried forward on 31 Dember 2020 We £1,356.721 12019.. £1.584,8771. The Ixeakdown ol those funds is set out in the reserve pdicy and on the balan sheet. page 10. 01 the a¢counls. Investment Policy The trustees, investment power are governed by its con5trtution which pertnrts the funds available to be invested in a wde rarye of securities and assets. The Tru*ees h8ve agreed to investing in bw risk ethical stwks. ReseNes Policy The Charity's general reserves represent the funds of the Charity that are freely available, excluding designated funds and restricted funds. In order lo continue to support the wojects in Bangladesh, the Trustees have set reserve level that in the event of funding not being SuffiCnt to cover expenses in the future that a smooth transition can bè rnade lo a lower level ol service and that funding c8n be continued at a similar level for 6 months. To this airn, the Trustee5 have a target of approximately four months of budg8ted operating expenses, being £228.01)012019'. £225.0001. Unrastricted general funds al 31 December 2020 totaled £132,45212019.. £62,373). Thèse unrestricted fvnds are high as we made one money transfers during the year, rathei than the normal two. lo minimise the effect of the uncertainty caused by COVID-19. Designated funds tOtad £1,015,272 at the 31 December 202012019". £1,318,077), details are provided in r¥)te 16. Restricted funds totad £208,997 details provided in note 1512019.. £204.4271.
THE SREEPUR VILLAGE. BANGLADESH REPORT OF THE TRUSTEES Plan$ for Future Perlods The Trustees have wnlinued their inveslrnent in new fundf8ising strategies and row employ a professional tnJ5t fundraiser on a contra¢t basi5. They continue to lotsk for n8w income strearns and ways lo reduce costs in th8 UK. The staff al SPP continue to k>ok for way5 to redLJC8 Costs WhIst continuing our core activities. and the trustees have agreed a maximum annual budget of £450,000 which will be reviewed re9ularty. Covid 19 and goln9 con¢wn The 2020 COVID19 pandemic brought a lol of uncertainty to the charty, but we have been extremety IlUnate that our loyal UK supporters have continued their regular donalioN5, and indeed we raised over £28,000 specifically to assist wth the costs of k)¢king down the project in Bangladesh. Pat Kerr has remained on the proje¢t during lockdown and S immediately brought in slricl hygien8 and quarantine conditions for any new admissk)ns and furloughed some staff. W1th lockdown about lo end in Bangladesh we can report that due to Pat's actions we have no ¢ase5 within lh8 village which is a rernarkab a¢hievemenl in a country where social distancing is virtually impossible. Our UK staff are working successfully from home", at the April 2021 Trustees meeting it was voted the 8e¢kenharn office will be ¢10s8d and w(king from home will be a permanent plan. Our financial reserves are sufficient to ensure our ability to remain 8 going concern. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure The Sreepur Village, Bangladesh is a registered Charity established by constitution on 28 April 1979 and its governing do(yJment is the Trust Deed dated 6 May 2006. Gc*vernance and Management The Trustees who served during the year were.. Dr Sheila Frtzpatrick MBE- resignèd Novemb8F 2020 Ms Sofia Naila Haque Ms Rebec Horsborough- iesigned December 2020 Ms Pal Kerr MBE Mr Derek PalTher Ms Janette Porter Mrs Rubina Mary Porter MBE Mrs Patricia Mary Silvesler MBE- resigned 5 June 2020 Mr Peter Wilkes- resigned November 2020 The Trust Deed slates that there shall be 81 Jeast three Trustees. Every future trustee shall be appointed by resolution of the Trustees passed at a Special rneeting. In selecting persons to be appointed as trustees, the Trustees shall tske into account the benefits of appointing a person, able by virtue of his or her personal or professional qualification, to make a contribution to the pursuits of the managernent of the Charrty. The Trustees meet regular to review operational and strategi¢ policiès of the Charity as well as to facilitate the achievement of Charity objectives. The Trustees delegate the day-to-day rnanagemenl to Palrirya Silvester The Trustees 8re familiar wrth the objectwes of th8 charity. Existing Trustees are responsible for train¥ng and passing on their knowledge to new Trustees. Risk Mana9ement The Trustees examine the major strategi¢. business and operational risks which thè charity faces each year and confirm that foma1 systerns have been established lo enab regular reports to be produced so that the necessary steps can l)e taken to miti9ate these risks. The major iisks identified and Ihe ways to mitigate them include the following.. Lack of funds to m8et the Charity's commitments - Overseen by the Investment sub-committee wilh guLqr reviews. The charity maintains two bank accounts, a5 well as cash accounts with its investment managers. C8sh fEow projections are reviewed quarterly. If required, cash can be raised from the inveslrnenl portfolio. Misappropriation of funds- strict procedures for approv81 of investment5 and signing ol cheques. and dual authorisation of on-line payments.
THE SREEPUR VILLAGE. BANGLADESH REPORT OFTHE TRUSTEES Un8vailabilrty of staff - Small team of two who cover each other. Produ$ Manual and Guideline folder available. strategies are in plac8 to manage ar mitigate these risks and lo ensure that they do not adversely affect the charity's opgrations or the weare of its beneficne$. Through the above risk rnanagement process. the Trustees anti¢ipale that major risks will be identified and 8s lar as practicable adequately rnitigaled. 11 is recognised that systems can only provide aSOnable, bLrt not absolte, assurance that major risks have been ad8qUately managed. Publlc Benefll We hav8 referred to the Charity Commission's general gLJidance on publi¢ b8nefit when reviewing our aims and obieclive$ and in planning our future activitie5. In particular we have considered how planned actwilies will contribute lo the aims and objectives that we have sel. The Truslees are satisfied Ihal the charicy conlinues to meet the Charity Commissh)n's guid81ines wth regard to delivering public benefit. TRUSTEES. RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS The Trustees are responsib for preparing the Trustees, Annual Report and the fInaclaI statements in ac¢ord8nce with applicable law and United Kingdom Accounting Standards (United KinOrn Gen8ralty Accepted A¢¢ounting Pra11. The1aw applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the 1ncoming resources and application of resour$ of the charty for that period. In preparing the58 financial st8ternenls. the Trusl8e5 are required to". select suitable accounting poli¢ies and then apply them eonststenlly., observe the rnethcmls and principS in the Charrties SORP 2015 IFRS 1021., rnakeiudgements and estimates that are rea$ab and prudent., state whether applic8b18 ac¢ounling standards have been followed. subject to any material departures discbsed and explained in the financial statements". prepare the financial st8tements on the going conrn basi5 unless it is in8pprowiale to Pfe5ume that the charity will continue in operatitsn. Th8 Tru5lees are responsible for keepng proper ac¢ountirwJ records that disck)se wth reasonable accura¢y at any lime the Iinancial position of the charity and enable them lo ensure that the rn8ncIal statements comply wth the Charitles Act 2011, the Charity (Accounts and Report51 Regulalions 2008 and the provision5 of the trust deed. They are also sponSible for safeguarding Ihe assets of the charty and hence for taking reasonable steps for thè prevention and detection of fraud and othw irregularit$. In 50 far as the Trustees are awa.. the is no relevant information of which the ¢harity'5 examimr is unaware", and the Trustees have taken all steps that they ought to have taken to make Ihemsefv85 aware of any revant audit infrnatIon and to establish that the audrtor Is aware of that infom)ation. This Teport was approved by the Trusle8s on ..0. Fl.101.21............. and signed on their behaw by.. Sofia Naila Haque TrLt5tee
THE SREEPUR VILLAG& BANGLADESH INDEPENDENT EXAMINER'5 REPORT TOTHeTRUSTEES I report on the ac¢ounls ol the charity for the year ended 31 December 2020 which are set out on pages 8 10 18. Respectlve re$pon$lbllltles of Trustees and ex8minor As the charty's trustees you are sponsIble for the preparation of the accounts in acrdanCe with tho requirements of th8 Ch8rities Act 20111'the Acl'l. I report in respect ol my examination of the eharrty's accounts carried out under section 145 of the Act and in carrying out my examinatn I have followed all the applicab Directions given by the Charbty Commission under Section 14515llbl ol the Act. Independent examlner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body li5t8d in section 145 of the Act. I confirrn that l am qualified tts undertake the examination because l a member of Association of Chartered Certified Accountants. which is one of the list8d bleS. I have completed my examination. l ¢onfirrn that no material matters have e(xne to my attentn in connection hvith the examinatitsn giving me cause lo believe that in any material respe¢¢'. accounting record5 were not kept In respect of the charity as required by sectk)n 130 of the Act,. or the accounts do not ac¢ord with those record5,' or the accounts do not eornply vAth the applicable requirements cOerning th8 forrn and content ol accounts set out in the Charrties (Accounts and Reportsl Regulations 2008 other than 8ny requirernent that the accounts give a Irue and fair view, 1¢h Is not a matter unsidered as part of an independent examination. I have no cOnrn$ and have come across no other matters in connection with the examination to which attention should be draNwi in Ihls report in der to enable a proper kjnderstanding of the accounts to be r8ached. Ca¢hering Cooper FCCA For and on beham of Azets Audit Swvices Greytown House, 2211227 High Stre8t, Orpington. Kent, 8R6 ONZ Date 06110121
THE SREEPUR VILLAGE, BANGLADESH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Notes Unre$tri¢ted Restrlcted funds fund$ Total 2020 Total 2019 Incorne from.. Donation5 and Legacie5 charitab activf(i8S'. Grants Receivable Sales of Inerchandise Events Investments- interest re1vab 249.649 11,700 261,349 234,203 36,850 14,204 54,440 19,951 19,700 56.550 14,204 54.440 19.951 41,850 56,292 45,459 23,852 Total ineom• 375,094 31,400 406,494 401,656 Expenditure on= Raising fUrS charitab activf(ies 32.360 628,339 32,360 655.169 33,418 647,187 26,830 To¢al expenditure 660,669 26.830 687.529 680,605 Net movement In funds before galns I Ilossesl 1285,6051 4,570 1281,0351 1278,9491 Net galns I Ilr)$se$l on Inve¥tm¢nl$ 12 52,879 52.879 133,820 Net movement in funds 1232,7281 4,570 1228.1561 1145.1291 Fund$ brought foN4ard at 1 Januzry 2020 1,380,450 204,427 1,584,877 1.730,006 Total funds carried forward at 31 December 2020 1,147,724 208,997 1,365,721 1.584,877 I transactions ar8 derived from continuing actNitie5. The statement of lin8ncial activities includes all gains and losses recognise(I during the year.
THE SREEPUR VILLAGE, BANGLADESH COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Year to 31 December 2019 Notes Unre$lrided funds Restricted funds Total 2019 In¢ome from.. Donations and Legacies Charitable activities-. Grants Receivable Sales ol Merchandise Events Investrll8nts- intèr6st receivab 232,233 1,970 234.203 9.150 56.292 45.459 23,852 32,700 41.850 56.292 45.459 23,852 Totsl income 366,986 34.670 401,656 Expenditure on: Raisino funds Charitable 8Ctivities'. 33,418 581,017 33,418 647,187 66.170 Total expenditure 629,435 66.170 680,605 Net movement in fLtnds before galns I Ilossesl 1247,4491 131.5001 1278,9491 Net gain5 1 Ilos$•sl on Investments 12 133,820 133,820 Net movement In funds 1113,6291 131,5001 1145.1291 Funds brought forward al 1 April 2019 1,494,079 235.927 1,730,006 Total funds ¢arrled fotward at 31 December 2019 1,380,450 204,427 1,584,877
THE SREEPUR VILLAG& BANGLADESH BALANCE SHEEr AS AT 31 DECEMBER 2020 2020 2019 Notffts FSxed $•t1 Investmonts 12 1.219.699 1.380.504 Current ass•ts Oebtors Cash at bank and in hand 13 38,965 167,460 143,627 144,075 2.425 Crediiors.. Amounts f8ling due within one year 14 17,0531 12,0521 Net Current assets 137,022 204,373 1,356,721 1,584,877 FUNDS R88tridèd Fun(15 Unrestricted Furnds.. Dssignated Fund5 Gengr81 unr8Strided fijnds 15 208.997 204.427 16 1.015,272 132,452 1.318.077 62,373 17 1.356,721 1,584.877 provod bythg Bo8rd of TrL&èes on 06 October 2021 and ¥ign¢d i)n their behalf by. Sofia Naila Haquè Trusta• Janott• P<)rt8r Trutytse
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POUCIES Basls of preparation The Sreepur Village. Bangladesh is a 15 È registered charity conslrtuled under a Trust Deed dated 6 May 2006. The address of the registered office 15 given in the Charity inltymation on page 1 of these financial statement5. The nature of the chalily's operations and prin¢ip81 activit$ are set wt on page 2. The ¢hwity conslilutes a public benefit entity as defined by FRS 102. The financial staternenls have been yepared in accordance with Accounting and Reporting by ChaTtIes.. Slatement of RecofflTnended Practi applicable tts charities preparing their accounts in a(xordance with the Fin8n¢ial Reporting Standard applicable In the UK IFRS 1021 issued on 16 July 2014, the Charities Ad 2011 and UK Generalty Accepted Pradice a5 rt applies from 1 January 2015 as amended by update Bulletin 1&2. The financial statements are prepared on a going concem basi5 under the historical cost convention, modified to include certain items al fair value. The financial slaternents are prepared in sterlin9 which is the fundional Currency of the tharity. The sIgnficant a¢counting policies applied in the preparation of these financial statement5 are set out below. These policies have been consistently applied to all years presented unless otheise staled. Income All income is included in the Statement of Ftnancial Activities ISOFAI when the charity is 189alW entitled to the income after any perfomance conditions have been met, the amount can be measured reliabty, and il 1$ probabl& that the incorne will be received. For donation5 and legacies lo be recniSed the charty will have been notffd of the amounts and the Settrnent date in writing. If there are condrtions attached to the donation and this requires a level of performance before enlitlement can be obtained then income is deferred until those conditions are fully met or the luifilmenl of thos8 (x)ndilions 15 Wrthin the control ol the charity and it is probable that they will be fuffilled. Investment incorne is 8amed through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to Klenlfy investment management costs incurred thin a scheme wth reasonable accuracy the investment income is reported net of these Costs. It 18 in¢luded when Ihe amount cari be measured reliably. Interest income 15 recognised using Ihe effective interest method and dividend and rent incorne is recognised as the charity'$ righl to receive paytnent Is established. Expendl¢ure All expenditure is awountecs for on an Accruals basis and has been classified under headings that aggregate 811 cost5 related to the catewry. Expenditure 15 recoJni5ed where there is a legal or constructive obligation to make payrnents to third parties, il is probable that the settlement will be required and the amount ol the obligation can be me35ured reliably. It is calegoris8d under the folkjwing headings.. Costs of raisin9 funds include5 thos8 COSt5 incurred by the management of the investmenls. Expenditure on eharrtable activities ¢p'se$ those costs incurred by the charity in the delivery of ils activities. It includes both costs that Can be allo¢aled directly tts such activities and those costs ol an indire¢l nature necessary lo support them. Grants payab are chargèd In thè year when the offer is conveyed to the recipient except in those cases where the offer 1$ conditional, such grants being recognised as expenditure wh8n the conditions attaching to the grants ar8 fuilled. Grants offered 5ubjed lo conditions that have not been met at the yeai-end are noted as a (ommitsnent. but not accrued as 8XP8nditur8. 10
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Support ¢X8ts allo¢atlon Support costs are tthse th8t assist the work ol the tharty but do not directly represent chantable activities and include office costs, governance costs, administrative and payroll ¢osls. They are incurred direct In support of expenditure on the objects of the chariiy and include project management carried out at Headquarters. Where support cos15 cannot be directly attributed to particular headings they have been allocated to expenditure on charitable a¢tivi(ies on a basis Consistent wh use of the restyjrces. The analysis of Ihese costs is included in note 8. Funds Unrestricted funds are av8ilab18 for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds cornpris8 unrestricte¢J funds that have been set aside by th8 Truste8s for particular purposes. The aim and use of each designated fund is sel out in the note$ to the financial st8t8ments. Restricted funds are funds that cAn only be u58d for particuLqr restricted purposes within the objects of th8 Qhafity. RestrictK)n arises when specrfied by the donor or when funds are rais8d for particular restri¢ted purposes, Investments Investments are recognisèd Initialty at their transaction value which is normally the transaction piice less transaction costs. Subsequently, they are tnea5ured al fair value th charyes re¢ognised in 'net gains I Ilossesl on investments, in the SOFA rf the shares are public traded or their fair value can otherwise be measured reliably Cash at bank and In hand Cash at bank and cash In hand Includes cash and short term highly liquid inv8Sttnenls wrth a short rnaturity of three fnonth5 or less from the date of acquisition or opening of the dewsit or similar account. Debtors and creditors receivable I payable within one year Debtors and creditors with no stated inter85t ral8 and recewable or payable within one year are recorded al transadion price. Any losses arising from impairrnent are recognised in expenditure. Corporation Tax The tharity is an exempl charity within the meaning of schedule 3 of tl Charities Act 2011 is considered lo pass the tests set out in Paragraph 1 Schedule 6 Finanee Act 2010 and therefore il meets the definition of a charitable eompany lor UK corporation lax purposes. 1.10 Going CowKem The fi'nancial statements have been pr8par8d on a going concem basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level ol income and expenditure for 12 months from authorising these financsal statements. The budgete income and expenditure Is sufficient with the level of reserves for the charity to be ab to continue as a going concem. This included considtIon of the effect of Ihe Covid-19 virus on the ChaTity'5 OP8rations.
THE SREEPUR VILLAG& BANGLADESH NOTES TO THE FINANCIAL sTATEMEr$ FOR THE YEAR ENDED 31 DECEMBER 2020 Judgernènts and key source$ of estimatlon uncertainty Accounting estimes and judgements are continually evaluated and are based on historical experience arnd other factors, including expectatiorF ol future events that a belved to be reasonable under the circumst8nces. There are no key 85SUrnPtions or judgements corKerning the lulure and otheT key sour$ of estimation UnrtaInty at the reporting date that have a signfficant risk of causing a material adj'ustment lo the carrying amounts ol assets and liabilit18S Wlthin the next financial year. Donatlon and Le98cles 2020 2019 Donations Gift aid receivable Lega¢ies 178,018 16.331 67,000 190,150 30,926 13,127 261,349 234,203 Grants R•c•lvabl• 2020 2019 Mountain Warehouse Au5tiTI 8aiky Thorna5 Family Charitable Foundation Sidcup Rotary Club The Clara E Buroess Charrty Cl8ypooI Trust Eddie Dinshaw Chalk Clrff Trust Peacock Foundation ROSL 15.000 1,000 30,000 5,000 2,700 2,900 1,250 2.700 1,250 25.000 5.000 600 4,000 2,000 Transforming narratwe5 56,550 41,850 Inve$tmen¢$ 2020 2019 Dividends received Inte$t received 19,890 61 23,837 15 19,951 23,852 12
THE SREEPUR VILLAGE. BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2020 ANALYSIS OF EXPENDITURE Staff Costs Direct ¢o$ts Support costs Tal 2020 Totsl 2019 Raising lunds Charrtable activities Shishu Poli Plus Nulon Jibon 32,360 32,360 33.418 37.618 591,151 26.400 655.169 605,187 42,000 Toi81 expenditure 37,618 623,511 28,400 687,529 680.605 Support costs have all been allocated against charitable activities in line with staff costs. Raising funds 2020 2019 Fund raising and 8vents Consultancy cost Investment management fees Other 18,491 9,965 8.750 14.464 239 13,S75 294 32,360 33,418 GRANTS PAYA8LE 2020 2019 Shishu Poli Plu5 Nulon Jibon 591.151 546,135 42,000 591,151 588,135 SUPPORT COSTS 2020 2019 Rent Computer & Website Printing, postage and stationery Travel Telephone Bank charges Other Entertainment GoVernar8 (note 91 7,032 5,591 2,410 3,665 6,840 1.327 7,168 4,498 374 144 2.444 120 732 130 6,720 1,970 26,400 24,765 13
THE SREEPUR VILLAGE. BANGLADESH NOTES TO THE FINANCIAL STATEME5 FOR THE YEAR ENDED 31 DECEMBER 2020 GOVERNANCE COSTS 2020 2019 Independent Exarnination Fee Managefnenl Accounts lee 4,320 2.400 1,970 6.720 1,970 10. STAFF COSTS 2020 2019 Wages and salaries Pensions 36,803 815 34,062 225 37.618 34,827 Two member5 of staff (head wunll were 8mpk)y8d during the year12019." 21. No employees eam8d over £60,000 per annum. The fund consider5 its key management personn81 lo comprise ol the Trustees. None of the Trustees received any rernuneration or 1MbUrSe expenses during the year. 11. TRUSTEE, REMUNERATION None of the Trustees received any remuneration during the y88r. Travel expenses re reimbursed to one Trustee during the year totallin9 £ 3,30012019 . £2,e10 ." 1 travell 14
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL sTATEMEs FOR THE YEAR ENDED 31 DECEMBER 2020 12. INVESTMENTS 2020 2019 Market value at 1 January Additions al cost Disposal$ Nel gains I (losses) on investment 1,380,504 213,397 1427,0811 52,879 1,587.312 241,822 1582,4501 133,820 Market Value al 31 December 2020 1,219.699 1,380,504 Historical cost at 31 Dember 2020 963,276 1,158,832 Market value of investrnents comprise.. UK listecl inve$lments Oversea5 listed Investments Cash on UK deptssrt 951,640 237.731 30.328 259.894 999.835 120,775 1.219.699 1,380,504 The following repre58llt more than 5.14 of the total market value of investments.. 2020 2019 Invesco FD Mngrs IP Corporate Bond Z Inves¢0 Perpetual Global Targeted Retums Z Lyxor Core US TIPS ETF Hedged Vontobel Mgmt SA Twentyfour Absolute Ashmore Inv Mgmt Ernerg Mkls Local Ccy Bd Z2 JP Morgan AM UK LTd ETFS Metal Se¢urit (Wisdown Tree Physical Gold) BMO Responsible Global Equrty 2 Acc First Stale Inv Steward1nv Lh)n Trust UK Ethical 2 Acc Loomis Sayles Gk)bal Growth Equity Fund SWA 60,803 61,178 55.297 60,926 68,731 82,411 83,961 76,274 69.442 69,507 76.158 63,621 68,107 63,155 61,514 71,040 62,066 13. DEBTORS 2020 2019 Inttrne tax recoverab Prepayments and accrued in(x)mè 448 12,578 26,387 448 38,965 14. CREDITORS 2020 2019 Ott)er credrtors Accruals 182 6,871 2,052 7,053 2,052
THE SREEPUR VILLAGE. BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 15. RESTRICTED FUNDS At 01.01.2020 At Expendlture 31.12.2020 Current year Income Nulon Jibo Nulon Jibon Seholarsh¢p Mountain Warehouse Sidcup Rotary Club Sreepur Village App SoL4r Pane15 Transforming Lwes Prqect 169.427 35,000 169,427 35.000 15.000 2,700 5,000 6,700 2,000 115,0001 12,7001 14301 18,7001 12,0001 4.570 204,427 31.400 126.8301 208,997 Nulon Jibon- funds are restrirted to cover the running costs of Nuton Jibon until 2021. Nuton Jibon Scholarship- fvnds lor students from Shishu Polli Plus attending further education. Mounlain Warehou58 - funds to cover operating costs of the drop in centre for children living on thè streets near the Tongi Raifv8y station. Sidcup Rotary Club- donation toward5 a salary for a Co-ordsnator Livelihood and Training Sreepur Villa9e App- fundino provided to develop an app to provide information for iTnpacted women Solar panels funding provided for in51alling solar panels TransfomiiF)g Liv85 Project-fu1ll9 provided to advance the livelihoods of Bangladeshi woman and ChIren At 01.04.2019 At 31.12.2019 Prlor year Income Expenditure Nulon Jibo Nulon Jb0 Scholarship Mountain Warehouse Sidcup Rotary Club Other 200.927 35.000 131.5001 169,427 35,000 30.000 2.700 1,970 130,0001 12.7001 11,9701 235,927 34,670 166.1701 204.427 16. DESIGNATED FUNDS At New 01.01.2020 Designations Desl9natlons released Galns , Al Los$e$ and 31.12.2020 Tfan$fers Current Year Investments maintenan and caprtal fund 1.218,077 100.000 151,2571 1251,5481 915.272 100,0(K) 1.318,077 151,2671 1251,5481 1.015.272 Investments - represenl the value of funds ld in the investrnent portftslio set aside to generate a stream ol income lo support the charitable expenditure Maintenance and c8Pltal SLJPPOrt - lo cover one-off ctssts relating to maintenance. capital projects includin9 buikjing works. 16
THE SREEPUR VILLAG& BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 DESIGNATED FUNDS leontl At New 1.4.2019 De$lgnotlons Designations released Galns , At Los585 and 31.12.2019 Transfers Prior Y•ar Investments Nuton Jibon Management Fee Maintenance and capital fund 1,101.385 10,500 100.000 117,1281 110,5001 133,820 1.218,077 100,000 1,211,885 127,8281 133,820 1.318,077 17. ANALYSIS OF NET ASSETS 8WEEN FUNDS Current year Restrfct8d Funds Deslgnated Funds Unrestricted Funds Total Fund5 31.12.2020 Investments Net cutrent assets 204.427 4.570 1.015,272 1,219.699 137,022 132,452 208,997 1,015,272 132,452 1,356,721 Prlor yeaf Restricted Fund$ Dèsignattd Funds Unrestrlcted Fund$ Total Funds 31.12.2019 Investrnent5 Net ¢urrent assets 62,427 142,000 1,318.077 1,380,504 204,373 62,373 204,427 1,318,077 62,373 1,584,877 18. RELATED PARTYTRANSACTIONS There were no related party tran$8dions during the year. 19. POST BALANCE SHEET EVENT After the year end land has been tr8nsferred to the charity as gift howev8r the value is unknown at the date of the accounts being signed. 17