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2021-12-31-accounts

THE SREEPUR VILLAGE, BANGLADESH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Registered Charity No. 1085008

AZETS AUDIT SERVICES Greytown House 221/227 High Street Orpington Kent BR6 0NZ

THE SREEPUR VILLAGE, BANGLADESH

CONTENTS

Page
Charity Information 1
Report of the Trustees 2 – 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Comparative Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 18

THE SREEPUR VILLAGE, BANGLADESH

REFERENCE AND ADMINISTRATIVE DETAILS

Patrons Dame Sarah Storey
The Lady Tunnicliffe PhD, BSc, FRSB, FLS
Trustees Mr Charles Gray (Appointed 7 April 2022)
Mr Abdul Karim
Ms Pat Kerr MBE
Mr Derek Palmer
Ms Janette Porter
Mrs Rubina Mary Porter MBE
Charity Registration Number 1085008
Principal Office 78 Beckenham Road
Beckenham
BR3 4RH
Key Management The Trustees
Banker HSBC 141 High Street
Beckenham
BR3 1BX
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ
Independent Examiner M A Wilkes (FCA)
Azets Audit Services
Greytown House
221 – 227 High Street
Orpington
Kent
BR6 0NZ
Investment managers: Tilney Investment Management Services Limited
Baskerville House
Centenary Square
Birmingham
B1 2ND

1

THE SREEPUR VILLAGE, BANGLADESH

REPORT OF THE TRUSTEES

The Trustees present their statutory report with the financial statements of The Sreepur Village, Bangladesh for the period ended 31 December 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published on 16 July 2014, as amended by bulletin 1 & 2.

GUIDANCE ON INTERPRETING OUR ACCOUNTS

Other than two salaried staff in the UK, the majority of our expenses are incurred locally in Bangladesh. From an accounting perspective these expenses are recorded and reported in the Bangladesh entity which from an accounting perspective is not affiliated to the UK entity. The expenses recorded in the UK accounts include the amount of money transferred to the Bangladesh entity during the year. These do not necessarily reflect the amount expended in the Bangladesh entity in the financial year as we typically make large transfers once or twice a year to minimise the administrative burden and cost of these increasingly complex transfers.

On a consolidated basis, the charity plus the Bangladesh entity typically has made a small loss in each of the last 3 years of less than £50,000 (fifty thousand pounds) a year and despite rising costs in Bangladesh, prudent financial management has ensured we have not had to divest our pool of investments. The investment pool is retained in order to provide a material income yield.

OBJECTIVES AND ACTIVITIES

Objectives

The objective of the Charity is the relief of women and children in need of care and protection, particularly those in the care of Shishu Polli Plus Bangladesh, by providing a home and education or aid.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

The Charity’s policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees’ interests.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Charity continues and that the appropriate training is arranged. It is the policy of the Charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of the other employees.

2

THE SREEPUR VILLAGE, BANGLADESH

REPORT OF THE TRUSTEES

ACHIEVEMENTS AND PERFORMANCE

The UK charity’s primary purpose is to raise vital funds to help impoverished single mothers and their children living in Sreepur Village in Bangladesh (known locally in Bangladesh as “Shishu Polli Plus”). 2021 marked the 32[nd] anniversary of Sreepur Village Bangladesh as well as the 50[th] anniversary of Bangladesh’s independence.

1) Activities in Bangladesh

Core activities

Despite intermittent Covid lockdowns in Bangladesh in 2021 our onsite team was able to continue operating our core activities in: 1) Child and Mother Care, 2) Education, 3) Healthcare and 4) Vocational training for mothers. In 2021, we provided:

Covid

We are delighted to say that through our team’s great efforts and strict quarantining procedures for new arrivals, we were able to keep all mothers, children, staff members and their families safe during the Covid pandemic and prevent any outbreaks of the virus on site. 98% of mothers and staff received 2 doses of the Covid vaccine.

Development of the “Sreepur Village App”

In 2021 we developed the “Sreepur Village App” to help provide online services, tools and digital literacy training to mothers at Sreepur Village. The app complements Sreepur Village’s hands-on training and contains different learning modules and videos. The app will help mothers remotely access support in e.g. vocational skills, managing mobile banking, education, video calls with Sreepur Village’s social workers, GPS to locate their nearest health clinic etc. Our app will help us reach many more women in underprivileged and isolated communities. This is especially important during future Covid lockdowns. In 2022 we will train mothers to use our App.

Urban projects

In late 2021 we were able to reopen our Girls’ Night Shelter (for homeless girls in Dhaka) and our SUCCESS project (Education and fostering for street children in Dhaka) after a pause on our activities due to the Covid lockdowns.

2) Activities in the UK

We congratulated Sreepur Village’s Patron, Dame Sarah Storey as she received her 17th gold medal in the 2020 Paralympic Games (held in 2021). She has made history as Britain's most successful Paralympian.

3

THE SREEPUR VILLAGE, BANGLADESH

REPORT OF THE TRUSTEES

FINANCIAL REVIEW OF THE YEAR

Our investment portfolio produced gains of £100,866 (2020: £52,879) and we continue to run a low risk portfolio with Tilney Investment Management Services.

We remain owners of the land in Tongi and have constructed a simple one storey building, with a tin roof, to confirm ownership and avoid squatters on the land. Dhaka is spreading out from the centre, and this parcel of land will increase in value and can bring in a small income from rentals. We were left a plot of land in Surrey which has been included in income for the year to 31 December 2021. This was subsequently sold in 2022 for the sum of £122,990.

Total income was £529,299 (2020: £406,494) principally from donations and legacies.

Total expenditure was £343,121 (2020: £687,529). As at 31 December 2021 amounts transferred of £246,119 (2020: £591,151) remains unspent in Sreepur, Bangladesh.

The charity made a surplus before gains on investments of £186,178 in the year (2020: Deficit of £281,035).

The total funds carried forward on 31 December 2021 were £1,643,765 (2020: £1,356,721). The breakdown of those funds is set out in the reserve policy and on the balance sheet of the accounts.

Investment Policy

The Trustees’ investment power are governed by its constitution which permits the funds available to be invested in a wide range of securities and assets. The Trustees have agreed to investing in low risk ethical stocks.

Reserves Policy

The Charity’s general reserves represent the funds of the Charity that are freely available to spend and exclude designated funds and restricted funds. In order to continue to support the projects in Bangladesh, the Trustees have set a reserve level that in the event of funding not being sufficient to cover expenses in the future that a smooth transition can be made to a lower level of service and that funding can be continued at a similar level for 6 months. To this aim, the Trustees have a target of approximately four months of budgeted operating expenses, being £150,000 (2020: £228,000).

Unrestricted general funds as at 31 December 2021 totaled £215,306 (2020: £132,452).

Designated funds totaled £1,424,459 at the 31 December 2021 (2020: £1,015,272), details are provided in note 17. Designated funds include amounts held in the Investment Portfolio which are set aside to generate a stream of income to support the charitable expenditure.

Restricted funds totaled £4,000 details provided in note 16 (2020: £208,997).

Plans for Future Periods

The Trustees continue to look for new and diversified sources of income. There is a legacy event being held in 2023 and the charity is also well progressed with establishing a “Friends of Sreepur” charity registration in the United States of America. A highly successful event was held in London at the Namaaste Restaurant in Highgate, London. The event was hosted by our Trustee and award winning chef Sabbir Karim and therefore future similar events will be arranged. The Trustees have also invested further in grant applications by increasing the hours of our grants specialist and this has shown an immediate increase in grants. In 2022 there will an increased roll-out of the Sreepur App which will significantly increase the number of disadvantaged women and children in Bangladesh whose lives we can bring a beneficial impact to.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

4

THE SREEPUR VILLAGE, BANGLADESH

REPORT OF THE TRUSTEES

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure

The Sreepur Village, Bangladesh is a registered charity established by constitution on 28 April 1979 and its governing document is the Trust Deed dated May 2021.

Governance and Management

The Trustees who served during the year were:

The Trust Deed states that there shall be at least three Trustees. Every future trustee shall be appointed by a resolution of the Trustees passed at a special meeting. In selecting persons to be appointed as trustees, the Trustees shall take 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 management of the Charity.

The Trustees meet regularly to review operational and strategic policies of the Charity as well as to facilitate the achievement of Charity objectives. The Trustees delegate the day-to-day management to Patricia Silvester

The Trustees are familiar with the objectives of the charity. Existing Trustees are responsible for training and passing on their knowledge to new Trustees.

Risk Management

The Trustees examine the major strategic, business and operational risks which the charity faces each year and confirm that formal systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks.

The major risks identified and the ways to mitigate them include the following:

Strategies are in place to manage and mitigate these risks and to ensure that they do not adversely affect the charity’s operations or the welfare of its beneficiaries.

Through the above risk management process, the Trustees anticipate that major risks will be identified and as far as practicable adequately mitigated. It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately managed.

Public Benefit

We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular we have considered how planned activities will contribute to the aims and objectives that we have set. The Trustees are satisfied that the charity continues to meet the Charity Commission’s guidelines with regard to delivering public benefit.

5

THE SREEPUR VILLAGE, BANGLADESH

REPORT OF THE TRUSTEES

TRUSTEES’ RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

This report was approved by the Trustees on 13[th] October 2022 and signed on their behalf by:

Charles Gray Trustee

6

THE SREEPUR VILLAGE, BANGLADESH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 8 to 18.

Respective responsibilities of Trustees and examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I a member of Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

M A Wilkes (FCA)

For and on behalf of Azets Audit Services Greytown House, 221/227 High Street, Orpington, Kent, BR6 0NZ

Date 13 October 2022

7

THE SREEPUR VILLAGE, BANGLADESH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Notes Unrestricted
Restricted		 Total Total
funds funds 2021 2020
£ £ £ £
Income from:
Donations and Legacies 2 331,395 4,000 335,395 261,349
Charitable activities:
Grants Receivable 3 38,978 60,000 98,978 56,550
Sales of merchandise 12,791 - 12,791 14,204
Events 65,145 - 65,145 54,440
Investments – interest receivable 4 16,990 - 16,990 19,951
_____ _____ ______ ______
Total income 465,299 64,000 529,299 406,494
_____ ______ ______ ______
Expenditure on:
Raising funds 6 18,650 - 18,650 32,360
Charitable activities 55,474 268,997 324,471 655,169
_____ ______ ______ ______
Total expenditure 5 74,124 268,997 343,121 687,529
_____ ______ ______ ______
Net movement in funds before gains / 391,175 (204,997) 186,178 (281,035)
(losses)
Net gains on fixed asset investments 12 100,866 - 100,866 52,879
_____ ______ ______ ______
Net movement in funds 492,041 (204,997) 287,044 (228,156)
Funds brought forward at
1 January 2021		 1,147,724 208,997 1,356,721 1,584,877
_____ ______ ______ ______
Total funds carried forward at
31 December 2021		 1,639,765 4,000 1,643,765 1,365,721
_____ _____ ______ ______

All transactions are derived from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

8

THE SREEPUR VILLAGE, BANGLADESH

COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Year to 31 December 2020 Notes Unrestricted Restricted Total
funds funds 2020
£ £ £
Income from:
Donations and Legacies 2 249,649 11,700 261,349
Charitable activities:
Grants Receivable 3 36,850 19,700 56,550
Sales of Merchandise 14,204 - 14,204
Events 54,440 - 54,440
Investments – interest receivable 4 19,951 - 19,951
_____ _____ ______
Total income 375,094 31,400 406,494
_____ ______ ______
Expenditure on:
Raising funds 6 32,360 - 32,360
Charitable activities: 628,339 26,830 655,169
_____ ______ ______
Total expenditure 5 660,669 26,830 687,529
_____ ______ ______
Net movement in funds before gains / (285,605) 4,570 (281,035)
(losses)
Net gains / (losses) on investments 12 52,879 - 52,879
_____ ______ ______
Net movement in funds (232,726) 4,570 (228,156)
Funds brought forward at
1 April 2020		 1,380,450 204,427 1,584,877
_____ ______ ______
Total funds carried forward at
31 December 2020		 1,147,724 208,997 1,356,721
_____ _____ ______

9

THE SREEPUR VILLAGE, BANGLADESH

BALANCE SHEET AS AT 31 DECEMBER 2021

2021 2020
Notes £ £ £ £
Fixed assets
Investments 12 1,324,459 1,219,699
Current assets
Investments 13 122,990 -
Debtors 14 1,295 448
Cash at bank and in hand 201,365 143,627
______ ______
325,650 144,075
Creditors:Amounts falling
due within one year 15 (6,344) (7,053)
______ ______
Net current assets 319,306 137,022
______ ______
Net assets 1,643,765
______		 1,356,721
______
FUNDS
Restricted Funds 16 4,000 208,997
Unrestricted Funds:
Designated Funds 17 1,424,459 1,015,272
General unrestricted funds 215,306 132,452
______ ______
18 1,643,765
______		 1,356,721
______

Approved by the Board of Trustees on 13[th] October 2022 and signed on their behalf by:

Charles Gray Trustee

10

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

1.1

Basis of preparation

The Sreepur Village, Bangladesh is a registered charity constituted under a Trust Deed dated May 2021. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 (FRS 102) issued on 16 July 2014, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015 as amended by update Bulletin 1&2.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Income

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

For donations and legacies to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

1.3 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

11

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1.4 Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 8.

1.5 Funds

Unrestricted funds are available 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 comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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

1.6 Investments

Investments are recognised initially at their transaction value which is normally the transaction price less transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably

1.7 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.9 Corporation Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

1.10 Going Concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

12

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1.11 Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no key assumptions or judgements concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2. Donation and Legacies

2.
Donation and Legacies
Donations
Donation of land
Gift aid receivable
Legacies
3.
Grants Receivable
Mountain Warehouse
Austin Bailey
Thomas Family Charitable Foundation
Big Give Campaign
Bronwen and Brian Mills Educational Trust
Jane Williamson Trust
Herbert & Stephanie Straus Memorial Trust
Gilchrist Education
Ambassadors for Good
Betty Messanger
Carmela and Ronnie Pignatelli Foundation
Sidcup Rotary Club
Claypool Trust
Eddie Dinshaw
Chalk Cliff Trust
Peacock Foundation
The ROSL Foundation
Transforming narratives
4.
Investments
Dividends received
Interest received		 2021
£
186,358
122,990
23,033
3,014
_
335,395
_
2021
£
30,000
-
10,000
5,000
5,043
500
5,000
1,000
5,085
1,000
2,500
-
1,250
30,000
-
600
2,000
-
_
98,978
_
2021
£
16,984
6
_
16,990
_		 2020
£
178,018
-
16,331
67,000
_____
261,349
__
2020
£
15,000
1,000
-
-
-
-
-
-
-
-
-
2,700
1,250
25,000
5,000
600
4,000
2,000
___
56,550
__
2020
£
19,890
61
___
19,951
______

13

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5.
ANALYSIS OF EXPENDITURE
Raising funds
Charitable activities
Shishu Poli Plus
Total expenditure		 Staff
Costs
£
-
42,560
____
42,560		 Direct
costs
£
18,650
246,119
____
264,769		 Support
costs

£
-
35,792
____
35,792		 Total
2021
£
18,650
324,471
____

343,121		 Total
2020
£
32,360
655,169
____
687,529

Support costs have all been allocated against charitable activities in line with staff costs.

8. SUPPORT COSTS
Rent
Consultancy
Computer & Website
Printing, postage and stationery
Travel
Insurance
Bank charges
Other
Governance (note 9)
6. Raising funds
Fund raising and events
Investment management fees
Other
7. GRANTS PAYABLE
Amounts transferred to Shishu Poli Plus		 2021
£
2,989
12,750
8,322
552
350
912
171
800
8,946
_
35,792

2022
£
5,480
13,090
80
_
18,650
_
2021
£
246,119
_
246,119
____		 2021
£
18,491
13,575
294
____
32,360
_
2020
£
591,151
_
591,151
2020
£
7,032
-
5,591
2,410
3,665
-
120
862
6,720
_
26,400

_

14

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

9. GOVERNANCE COSTS
Independent Examination Fee – Current year
Independent Examination Fee – Under provision in prior year
Payroll
Management accounts fee
10.
STAFF COSTS
Wages and salaries
Pensions		 2021
£
4,200
3,510
336
900
___
8,946
_
2021
£
41,692
868
_
42,560
 2020
£
4,320
-
-
2,400
___
6,720
_
2020
£
36,803
815
_
37,618

Two members of staff (head count) were employed during the year (2020: 2). No employees earned over £60,000 per annum.

The fund considers its key management personnel to comprise of the Trustees.

11. TRUSTEE’ REMUNERATION

None of the Trustees received any remuneration during the year.

Travel expenses were reimbursed to one Trustee during the year totalling £350 (2020 : £3,300 : 1 Trustee for travel).

15

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. INVESTMENTS

Market value at 1 January
Additions at cost
Disposals
Net gains / (losses) on investment

Market Value at 31 December 2021

Historical cost at 31 December 2021

Market value of investments comprise:
UK listed investments
Overseas listed investments
Cash


Asset distribution:
Fixed Interest bonds
Overseas listed investments
Cash

_
The following represent more than 5% of the total market value of investments:
Lyxor Core US TIPS ETF hedged
Invesco FD Mngrs IP Corporate Bond Z
Rathbone Ethical Bond I inc
Vontobel Mgmt SA Twentyfour Absolute
TwentyFour Sustainable Short Term Bond Income AQG GBP
Liontrust UK ethical 2 acc
Stewart Investors Asia Pacific
BMO Responsible Global Equity 2 Acc
Loomis Sayles Global growth Equity fund S2/A
WisdomTree Physical Gold
Invesco FD Mngrs IP GBL Targeted Returns
JPMorgan AM UK Ltd
JPM Global Macro Sustainable
Ninety One Diversified Income J Income 2 GBPvesco Perpetual
13.
CURRENT ASSET INVESTMENTS
Donation of land		 _ 2021
£
1,219,699
873,674
(869,780)
100,866
__
1,324,459
_
1,049,516
_
846,073
435,856
42,530
__
1,324,459
_
307,663
974,266
42,530
_
1,324,459
__
2021
£
71,706
-
76,069
-
84,669
47,967
70,852
65,614
61,639
65,991
-
-
80,299
70,419
__
2021
£
122,990
___
122,990
 2020
£
1,380,504
213,397
(427,081)
52,879
___
1,219,699
__
963,276
_
951,640
237,731
30,328
_
1,219,699
_
297,343
892,028
30,328
_
1,219,699
_
2020
£
55,297
60,803
63,621
60,926
-
71,040
61,514
63,155
62,066
68,107
61,178
76,158
-
-
_
2020
£
-
___
-
 2020
£
1,380,504
213,397
(427,081)
52,879
___
1,219,699
__
963,276
_
951,640
237,731
30,328
_
1,219,699
_
297,343
892,028
30,328
_
1,219,699
_
2020
£
55,297
60,803
63,621
60,926
-
71,040
61,514
63,155
62,066
68,107
61,178
76,158
-
-
_
2020
£
-
___
-
_


_ _ _

The charity received a donation of land in the year. The land was subsequently sold in 2022 for an amount of £122,990.

16

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. DEBTORS

14. DEBTORS
2021 2020
£ £
Income tax recoverable 295 448
Prepayments and accrued income 1,000 -
______ ______
1,295
______		 448
______
15. CREDITORS
2021 2020
£ £
Other creditors 187 182
Other taxes and social security costs 457 401
Accruals 5,700 6,470
____ ____
6,344
____		 7,053
____
16. RESTRICTED FUNDS
At 1.1.21 Income Expenditure At 31.12.21
Current year £ £ £ £
Nuton Jibon 169,427 - (169,427) -
Nuton Jibon Scholarship 35,000 - (35,000) -
Mountain Warehouse - 30,000 (30,000) -
Maintenance - Sreepur Village - 30,000 (30,000) -
Sewing machines - 4,000 - 4,000
Sreepur Village App 4,570 - (4,570) -
______ ______ ______ ______
208,997
______		 64,000
______		 (268,997)
______		 4,000
______
Prior year
At
01.04.2020
£
Nuton Jibon
169,427
Nuton Jibon Scholarship
35,000
Mountain Warehouse
-
Sidcup Rotary Club
-
Sreepur Village App
Solar Panels
Transforming Lives Project
-
-
-
______
204,427
 Income
£
Expenditure
£
At
31.12.2020
£
-
-
169,427
-
-
35,000
15,000
(15,000)
-
2,700
(2,700)
-
5,000
6,700
2,000
(430)
(6,700)
(2,000)
4,570
-
-
__
_
___
31,400
(26,830)
208,997

17

THE SREEPUR VILLAGE, BANGLADESH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. DESIGNATED FUNDS

Current Year
Investments
Maintenance and capital fund		 At
01.01.2021
New
Designations
Designations
released
At
31.12.2021
£
£
£
£
915,272
409,187
-
1,324,459
100,000
-
-
100,000
__
_
___
______
1,015,272
409,187
-
1,424,459
Prior Year
Investments
Maintenance and capital fund		 At
1.4.2020
New
Designations
Designations
released
At
31.12.2020
£
£
£
£
1,218,077
-
(302,805)
915,272
100,000
-
-
100,000
__
_
___
______
1,318,077
-
(51,267)
1,015,272

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current year Restricted Designated Unrestricted Total
Funds Funds Funds Funds
31.12.2021
£ £ £ £
Investments - 1,324,459 - 1,324,459
Net current assets 4,000 100,000 215,306 319,306
______ ______ ______ ______
4,000 1,424,459 215,306 1,643,765
______ ______ ______ ______
Prior year Restricted Designated Unrestricted Total
Funds Funds Funds Funds
31.12.2020
£ £ £ £
Investments 204,427 1,015,272 - 1,219,699
Net current assets 4,570 - 132,452 137,022
______ ______ ______ ______
208,997 1,015,272 132,452 1,356,721
______ ______ ______ ______

19. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year.

18