THE SREEPUR VILLAGE. BANGLADESH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity No. 1085008 AZEfs AUDIT SERVICES River House 1 Maidstone Road Sidcup Kent DA14 5RH
THE SREEPUR VILLAGE. BANGLADESH CONTENTS Page Charity Infomation Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Comparative Stalement of Financial Aclivities Balance Sheet Notes to the Financial Statements 10t018
THE SREEPUR VILLAGE, BANGLADESH REFERENCE AND ADMINISTRATIVE DETAILS Patrons Dame Sarah Storey The Lady Tunnicliffe PhD, BSC, FRSB, FLS Trustees Ms Rebecca Horsbrugh Mr Abdul Musabbir Karim Ms Pat Ke MBE Mr Derek Palmer Ms Janette Porter Mr Matthew Silvester Charity Registration Number 1085008 Principal Office 78 Beckenham Road Beckenham BR3 4RH Key Management The Trustees Banker HSBC 184 High Street Bromley BR1 1HE CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME194JQ Independent Examiner M A Wilkes (FCA) Azels Audit servIs River House 1 Maidstone Road Sidcup Kent DA14 5RH Investment managers: Evelyn Investment Management Services Limited Baskerville House Centenary Square Binningham B12ND
THE SREEPUR VILLAGE, BANGLADESH REPORT OF THE TRUSTEES The Trustees present their report and the unaudited financial statements for the year ended 31 December 2024. The financial statements have been ppared in accordancewith Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Slandard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practi. GUIDANCE ON INTERPRETING OUR ACCOUNTS Other Ihan tsvo 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 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 rnake 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 Ifrfty thousand pounds) a year and despite rising costs in Bangladesh, prudent financial management and favourable movement in the exchange rate have ensured we have not had to divest our pool of investments. The invesbnent pool is retained in order to provide a material income yield. OBJECTIVES AND ACTIVITIES Objectlves 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 (known locally in Bangladesh as 'Shishu Polli Plus"). by providing a home and education or aid. The Truslees have paid due regard to guidance issued by the Charity Commission in deciding what activities Ihe Charity should undertake. The Charily'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 concemed. 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 thal of the other employees. ACHIEVEMENTS AND PERFORMANCE Sreepur Village offers a transfoThative haven for these mothers and their children. Within our family units. mothers and children forge strong bonds while residing in secure accommodations. Each day, they receive three nutritious meals and all essential supplies to meet their needs. Families live with us for up to three years-a crucial period during which mothers acquire valuable knowledge and skills. Our comprehensive programme fosters Independen through social. educational. and economic empowemient, preparing Ihese resilient women to build sustainable fulures for Ihemselves and their children. 1) Activities in Ban ladesh Key Achievements in the year of 2024 Provided a safe home, food, and clothing to single molhers and their children, ensuring their basic needs were met with dignity and care. A tolal of 597,775 nutritious meals and snacks were provided, reinforcing our commitment to combating malnLJtrition and promoting healthy development. Welcomed 55 new families into Sreepur Village. Supported the schooling of 226 children. Delivered classes to 140 mothers including literacy and finance amongst others. Trained 48 children in life saving skills including swimming and treading water. Engaged 79 mothers in entrepreneurship and livelihood ath"vities for income generation. Successfully reintegrated 62 molhers and their children {131) into communities. Conlinued schooling of 75 children aftertheir mothers rejoined their community. Enabled 33 mothers to have continued support by using the Sreepur Village mobile phone app.
THE SREEPUR VILLAGE, BANGLADESH REPORT OF THE TRUSTEES Community Reintegration: Our dedicated social workers mainlained a comprehensive afterca programme, conducling extensive home visits and community engagement sessions to monitor and support families who had completed their residential care with us. Through Ihoughfful case management and personalised intervention strategies. our social workers ensured these families successfully reinlegraled into their communities, addressing emerging challenges related lo housing stability, economic self-sufficiency, educational continuity for children. and psychological well-being. This holistic approach to post-residential support reinforces the sustainable impact of our programme, creating lasting positive change in the lives of vulnerable mothers and their children throughout Bangladesh. In 2024, we continued to WO on Ihe-sreepur Village App- ISV Appl, which has become an essential digital lifeline for molhers transitioning from our residential programme to independent living in remote areas. Building on our initial development in 2022 and continued refinements throughout2023, this yearwe implemented a comprehensive suite of upgrades based on user feedback. The SV App now features an expanded library of interactive leaming modules covering critical skills such as financial literacy. child development. preventative healthcare. and sustainable agricultural practices. The integrated video consultation feature has been enhanced to provide reliable connections with our social workers. healthcare professionals. and vocational trainers. offering real-time guidance when challenges arise. We've continued our commitment to digital inclusion by providing tablets lo all mothers upon graduation from our programme. These devices come p-lOaded with the SV App and essential educalional resources, crealing a portable knowledge centre they can reference and share wrth their communities. Our data indicates that each tablet beneffils approximately 5-7 additional women beyond the original recipient through knowledge sharing and community learning sessions organised by our graduates. Urban projects In 2024, we continued our urban outreach initiatives in Dhaka. addressing the critical needs of vulnerable children living in the city's most challenging environments. 2) Activities in the UK In 2024. we intensified our donor stewardship strategy, focusing on cultivating relationships with supporters who engage with us through social media and our newsletter (sent either monlhly via email or quarterly via post), SLJccessfully converting into regular donors. A highlight of the year was our 35th Anniversary lebratiOn held in June at the prestigious RAC Club in London. The guest list represented our diverse supporter base. from British Airways staff who have been with us since our founding, to our newest individual donor5 and representatives from trusts and foundations. Our fundraising initiatives continued to yield impressive results= We raised just over £140,000 from our loyal regular donor base, many of whom have supported us for many decades. This includes gift aid and payroll giving. We generated over £274,000 from trusts and foundations. We benefited from a significant legacy of just over a £100,000. In December, our Big Give campaign was a tremendous success, raising over £22.000 specifically for our children's education programme. Our handcrafted Christmas cards, available from October through DeMber, generated over £10.000 in sales, an increase from previous few years. Throughout the year, we maintained steady sales of our range of handcrafted products, providing sustainable income while showcasing the skills of the mothers at Sreepur Village. FINANCIAL REVIEW OF THE YEAR During Ihe year the charity received income totalling £685,353 {2023- £374,856). Expendilure totalled £646,346 12023.. £494,672). The surplus for the year (before gains l {losses) on investments) is £39,00712023= deficit of £119,816). Our investment portfolio shows an unrealised gain of £50,464 (2023: gain of £48.205) and we continue to run a low-risk portfolio with Tilney Investment Management Services. The lolal funds carried forward on 31 December 2024 were £1,402,267 (2023.. £1,312,796). The breakdown of those funds is set out in the reserve policy and on the balanc£ sheet of the accounts.
THE SREEPUR VILLAGE, BANGLADESH REPORT OF THE TRUSTEES Inveslmenl Policy The Trustees, investment powers are govemed by ils constitution which peThits 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 fijnds of the Charity that are freely available to spend and exclude designated funds and restricted funds. In orderto continue tosupwrtlhe projects in Bangladesh, the Trustees have sel a reserve level that in the event of funding not being sufficient to cover expenses in the future thal a smooth transition can be made to a lower level of service and that funding can be continued at a similar level for one year. To this aim, the Trustees have a largel of approximately twelve months of budgeled operating expenses in the UK, being £100,000 (2023.. 4 months £30,000)- Unrestricted general funds at 31 December 2024 tolalled £44,161 12023: £29,615). Designaled fvnds at 31 Dember lotalled £1.313,372 (2023.. £1.265,861), details are provided in note 17. Designated funds include amounls held to generate income and lo ensure families living in the Village can continue to be supported for a maximum of three years. This is a moral obligation rather than a legal commitment. These funds are held in the Investment Portfolio. Restricted funds totalled £44,734. Details provided in note 16 (2023= £17.320). Plans for Future Periods The Trustees continue to look for new and diversffied sources of income. We will continue to run events, including an annual one in June when Pat Kerr MBE is in the UK. We have an event planned or June to continue our relationship wilh past and present Britlsh Airways staff who have supported us since our iptiOn. We continue lo reach out to our supporters, tnjsts, foundations and corporate partners. In the USA we are now 501 IC)3 registered with the IRS to enable us to raise in US and for donations lo be lax deductible for donors. We will be known as Friends of Sreepur Going concern The financial statements have been prepared on a going concem basis as the Truslees believe that no material uncertainties exist. The Truslees have considered the level of funds held and Ihe expected level of income and expenditure for 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficienl with the level of reserves for Ihe charity to be able to continue as a going concem. STRUCTURE. GOVERNANCE AND MANAGEMENT Structure The Sreepur Village, Bangladesh is a registered charity established by constitution on 28 April 1979 and its goveming document is the Trust Deed dated June 2023. Governance and Management The Trustees who served during the year were: Mr Chades Gray {Resigned 22 January 2025} Ms Rebecca Horsbrugh (Appointed 18 August 2024) Mr Abdul Musabbir Karim Ms Pat Kerr MBE Mr Derek Palmer Ms Janette Porter Mr Matthew Silvester {Appointed 24 November 2024) The Trust Deed states that there shall be al least three Trustees. Every future trustee shall be appoinled by a resolulion of the Trustees passed al a special meeting. In selecting persons to be appointed as Irustees, 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 ofthe management oflhe 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 are familiar with the objectives of the charity. Existing Trustees are responsible for training and passing on their knowledge to new Trustees.
THE SREEPUR VILLAGE, BANGLADESH REPORT OF THE TRUSTEES Risk Management The Trustees examine the major strategic. business and operational risks which the charity faS each year and confirm that fomal systems have been established to enable gUlar 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= Lack of funds to meet the Charity's commitments - Overseen by the Board of Trustees with regular reviews. The charity maintsins accounts with two banks as a well as a cash account its investment managers. If required. cash can be raised from the investment portfolio. Misappropriation of funds - strict procedures for approval of investments and authorisation of on-line payments. Unavailability of staff - Small team of hvo who cover each other. produreS Manual and Guideline folder available. Strategies are in place to manage and mitigate these risks and to ensure that they do not adversely affect the charity's operations or Ihe welfare of its beneficiaries. Through the above risk management process. the Trustees anticipate that major risks will be identified and as far as practicable adequalely 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 reviewng our aims and objeclives 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 Ihal the charity continues to meet the Charity Comrnission's guidelines with regard to delivering public benefit. 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 A¢pted Accounting Practice). The law applicable to charities in England & Wales reqUIS the Trustees to prepare financial statemenls 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 charty for that period. In preparing these financial slatements, the Trustees are required to= select suitable accounting policies and then apply them consistently-. observe the methods and principles in the Charitses SORP 2015 (FRS 102)- make jLJdgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concem basis unless it is inappropriate to presume Ihal the charity will conb'nue in operation. The Truslees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial posib'on of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {AOUnts and Reports) Regulations 2008 and the provisions ofthe 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- there is no relevant infornation ofwhich the charity's examiner is unaware., and The Trustees have taken all steps that they oughl to have taken to make themselves aware of any relevant infomiation and to establish that the examiner is aware of that information. This report was approved by the Trustees on 13 June 2025 and signed on their behalf by: Janette Porter Chair of Trustees
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 2024 which are set oul on pages 7 to 18. Respective responsibilities of Trustees and examiner As the charity's trustees you are responsible for the preparakn.on of the acc£)unts in accordan with the requirements ofthe Charitses Act 2011 {'the Act'l. I report in respecl of my examination of the charity's accounts carried out under section 145 of the Act and in carying 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 sin the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in seclion 145 of the Act. I confirm that l am qualified to undertake the examination because l a member of Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examinalion. I confinm that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respecl.. acwunting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records,. or the accounls do nol comply wilh the applicable requirements conmIng the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connecbon 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. A Wilkes IFCA) For and on behalf of Azets Audit seICes River House 1 Maidstone Road Sidcup Kent, DA14 5RH Dale 1 July 2025
THE SREEPUR VILLAGE, BANGLADESH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Notes Unrestricted Restricted funds funds Total 2024 Total 2023 Income from: Donations and Legacies Charitable activities.. Granls Receivable Sales of merchandise Events Fundraising Investments 297.463 22,214 319.677 211,001 29,445 15,950 13,105 57,434 4,222 245,520 274,965 15.950 13,105 57,434 4.222 86,790 15,068 1,747 33,326 26,924 Total income 417.619 267,734 685.353 374,856 Expenditure on: Raising funds Charitsble activities 22.383 383,643 22.383 623,963 39,383 455,289 240,320 Tolal expendlture 406.026 240,320 646.346 494,672 Net movement in funds before gains I (losses) 11,593 27,414 39,007 {119,816} Net gainsl (losses) on fixed asset inveslments 13 50.464 50.464 48,205 Net movement in funds 62,057 27,414 89,471 (71,611) Funds brought forward at 1 January 2024 1,295,476 17,320 1,312,796 1,384,407 Tolal funds carried forward at 31 December 2024 1.357,533 44,734 1,402,267 1,312,796 All Iransactions are derived from continuing activities. The statement of finanaal activities includes all gains and losses recognised during the year. The timing of payments made to Shishu Polli Plus Bangladesh will impact the result for the year.
THE SREEPUR VILLAGE, BANGLADESH COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Year to 31 December 2023 Notes Unrestricted funds Restricted funds Total 2023 Income from: Donations and Legacies Charitable activities.. Granls Receivable Sales of Merchandise Events Fundraising Investments 195,416 15,585 211,001 11,110 15,068 1,747 33,326 26,924 75,680 86,790 15,068 1,747 33,326 26,924 Tolal income 283,591 91,265 374,856 Expenditure on: Raising funds Charitable activities.. 39,383 368.966 39,383 455,289 86,323 Total expenditure 408.349 86,323 494,672 Net movement in funds before gains I (losses) (124.7581 4,942 (119,8161 Net gains I (losses) on investments 13 48,205 48,205 Net movement in funds {76,5531 4,942 171,611) Funds brought forward at 1 April 2023 1,372.029 12,378 1,384,407 Total funds carried forward at 31 December 2023 1,295.476 17,320 1,312,796
THE SREEPUR VILLAGE, BANGLADESH BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible fixed assets Investmenls 12 13 470 1,212.902 940 1,164,921 1.213.372 1.165,861 Current assets Debtors Cash at bank and in hand 14 16,415 177,493 10,904 145,073 193,908 155,977 Creditors: Amounls falling due within one year 15 (5,013) 19,0421 Net Current assets 188,895 146,935 Net assets 1.402,267 1,312,796 FUNDS Restricted Funds Unrestricted Funds.. Designated Funds General unrestricted funds 16 44,734 17,320 17 1.313.372 44,161 1,265,861 29,615 18 1,402,267 1,312,796 Approved by the Board of Trustees on 13 June 2025 and signed on their behalf by: Janette Porter Chair of Trustees
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparation The Sreepur Village, Bangladesh is a registered charity constituted under a Trust Deed daled May 2021. The address of the registered Offi is given in the charity infomalion 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 accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011 and UK Generally Accepled Practi. The financial statements are prepared on a going COnM 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 Ihe preparation of these financial statements are set oul below. These policies have been consistenly applied to all years presented unless otheiSe staled. Income All income is included in the Statemenl of Financial Activities (SOFA) when the charily is legally entiued 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 recojnised Ihe charity will have been notified of Ihe amounts and the settlement date in wriling. If there are conditions attached to the donation and this requires a level of perfomance before entitlemenl 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. Investmenl income is eamed Ihrough 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 meaSUd reliably. Interest income is recognised using the effective inlerest method and dividend and rent income is recognised as the charity's right io receive payment is established. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all costs related to the category. Expenditure is recognised where there is a legal or constnActive obligation to make payments lo third parlies, it is probable that the settlemenl will be required, and the amount of the obligation can be measured reliably. It is categorised under the followng headings= Costs of raising funds includes those costs incurred by the management of the investments. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Granls payable are charged in the year when Ihe offer is conveyed to the recipient excepl in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching to the grants are fulfilled. Grants offered subject to conditions that have not been mel at the year*nd are noted as a commilment, but nol accrued as expenditure. 10
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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. govemance costs. administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include projecl management carried out al Headquarters. Where support costs cannot be directly attributed to particular headings. they have been allocated to expenditure on charilable activities on a basis consistent with use of the resources. The analysis of these costs is included in note 8. 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 comprrse unrestTiCted funds that have been set aside by the TTUStees for particular purposes. The aim and use of each designaled fvnd is set out in the notes lo the financial statements. Restricted funds are funds that can only be used for parbcular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. Tangible fixed assets All assets costing over £1,000 are capitalised. Tangible fixed assets are Stated at cost less deprecialion. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets. less their estimated residual value. over their expected useful lives as follows.. Computer Equipment 33°A straight line Investments Investmenls are recognised initially at their transaction value which is nomally the transaction price less transaction costs. Subsequendy. they are measured at fair value with changes recognised in 'nel gains I {losses) on investments. in the SOFA rf the shares are publidy traded or their fair value can otherwise be measured reliably. Cash at bank and in hand Cash al bank and cash in hand includes cash and short ten 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. Debtors and creditors recelvable I payable withln one year Debtors and creditors with no staled interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 1.10 Corporation Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered lo 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 lax purposes. 1.11 Going Concern The financial statements have been prepared on a going concem basis as the Trustees believe that no material uncertainties exisl. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these finanaal slatemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1.12 Judgements and key sources of estimation uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and olher factors. including expectations of future events that are believed to be reasonable under the circumslances. There are no key assumptions or judgements conceming the future and other key SoUrS of eslimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilwties within the next financial year. Donation and Legacies 2024 2023 Donations Gift aid receivable Legacies 138,330 26,120 155,227 131,950 31,909 47,142 319,677 211,001 Grants Receivable 2024 2023 Ambassadors for Good Bronwen and Brian Mills Educational Trust CB & HH Taylor Claypool Trust Coles Medlock Dyson Charitable Trust Eddie Dinshaw Eleanor Ralhbone Charitable Trust The Gengulphus Fund Mountain Warehouse Rolary club- Liverpool exchange Rotary club- Sidcup Salam Charity Grants < £1.000 5,080 12,600 2,000 1,000 7,500 70,400 5,000 20,000 20,500 21,700 1,000 2,945 30,000 30,000 2,600 2.400 2,400 122,220 1,500 910 274,965 86,790 Inveslments 2024 2023 Dividends received Interest received 1,364 2,858 26,305 619 4,222 26,924 12
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ANALYSIS OF EXPENDITURE Staff Costs Direct costs Support costs Total 2024 Total 2023 Raising funds Charitable activiiies Shishu Poli Plus 22,383 22,383 39,383 58,911 549,859 15,193 623,963 455,289 Total expenditure 58.911 572.242 15,193 646,346 494,672 Raising funds 2024 2023 Fund raising and events Inveslmenl managementfees Other 18,475 3,847 61 26,922 12.399 62 22,383 39.383 GRANTS PAYABLE 2024 2023 Amounts transferred to Shishu Poli Plus 549,859 385,486 549,859 385,486 SUPPORT COSTS 2024 2023 Compuler & Websile Printing, postage and stationery Travel Insurance Bank charges Depreciation US Friends of Sreepur Other Governance (note 9) 4,133 1,035 749 1,159 589 470 5.437 2,443 1,851 1,119 345 470 510 1,038 6,252 2.678 4,380 15,193 19,465 13
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GOVERNANCE COSTS 2024 2023 Independent Examination Fee- Current year Independent Examination Fee- Under provision in prior year Accountancy 4,080 3.840 1,512 900 300 4,380 6.252 10. STAFF COSTS 2024 2023 Wages and salaries Pensions 57,365 1.546 49,297 1.041 58,911 50,338 Two members of staff (head count) were employed during the year (2023.. 2). No employees earned over £60,000 per annum. The charity considers its key management personnel to comprise of the Trustees. 11. TRUSTEE, REMUNERATION None of the Trustees received any remuneration during Ihe year. During the year 1 Trustee was r&imbursed £250 for travel expenses. (2023: £1,300: 1 Trustee for travell. 12. TANGIBLE FIXED ASSETS Computer Equipment Cost At 1 January 2024 1,410 At 31 December 2024 1,410 Depreciation At 1 January 2024 Charge for the year 470 470 At 31 December 2024 940 Net book value At 31 December 2024 470 At 31 December 2023 940 14
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. INVESTMENTS Total 2024 Total 2023 Market value brought forward Additions at cosl Disposals Nel gains l (losses) on investment 1.130.330 31,730 1,154,989 1,406,174 (1.479,0381 48.205 50.464 1.212.524 1,130.330 Cash balances in portfolio 378 34.591 1.212.902 1,164.921 Historical cost at 31 DeIllber 2023 1.157.138 1,159.621 Market value of investments comprise: UK listed investments Overseas listed investments Cash 303.131 909.393 378 474,739 655,591 34,591 1,212,902 1,164,921 Asset distribution- Government fixed income Corporate bonds Equity Fixed income Other Cash 291,096 157,677 545,806 221,335 151,440 372,775 34,948 349,832 34,591 217,945 378 1,212,902 1,164,921 14. DEBTORS 2024 2023 Gift aid recoverable Other debtors Prepayments and accrued income 5,399 10,126 890 2,952 7,062 890 16,415 10.904 15. CREDITORS 2024 2023 Other creditors Other taxes and social security costs Accruals 267 666 4,080 439 2,675 5,928 5,013 6,344 15
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. RESTRICTED FUNDS At 1.1.24 Income Expenditure At 31.12.24 Current year Mountain Warehouse Bicycle repair project New Drainage system Security gates and fence Village Maintenan Community kils Teacher Training Centre and Health Services SPP Clinic Big Give Campaign Randall Charitable Foundation 30,000 5,400 40,000 25,000 20,500 200 2,400 95,820 130.0001 5,400 10,800 140,0001 125,0001 120,5001 1200) (2.4001 (95,820) 26,400 22,014 126,400) 11.920 33,934 17.320 267.734 {240,3201 44.734 Mounlain Warehouse has agreed to redirect Iheir biannual fvnding toward our general operating expenses, following the closure of our Tongi drop-in centre. Bicycle Repair Project - A new income-generating initiative teaching mothers bicycle maintenance skills Ihey can use lo eam money upon retuming to their communities. New drainage sysiem The recenlly implemented drainage system in Sreepur Village represenls a significant infrastructure advancement for the community. The nemork of propedy graded channels and culverts now efficiently diverts rainwater and wastewater away from residential areas. substantially reducing flooding dunng monsoon seasons. Local engineers incorporated suslainable design elements, including permeable surfaces and natural filtrats.on zones, to minimise environmental impact. Security gates and fence - The newly installed security gates and fence surrounding Sreepur Village provide a much-needed protective boundary for the community. The robust perimeter fence, conslrucled with durable materials designed to withstand environmental stresses, encirdes the village and features strategically positioned gates that conlrol access while maintaining convenience for residents. These gates are equipped with simple yet effective locking mechanisms that community members can easily operate. The Eddie Dinshaw Foundation provides an annual donation supporting essential village maintenance. Recent repairs include extending our large kitchen with new flooring, renovating nursery and school toilets, fixing roofs, and repairing inlemal village roads. Community kits are provided to each family at the end of their three-year stay, containing essentials for their return to community life and resources to launch small businesses. Teacher funding provides a complete annual salary for a committed educator who specialises in teaching Class-02. nurturing the academic development of students aged 7 to 9. Training Centre and Health Services and SPP Clinic were funded by the Salam Charity, a global non-profit organization delivering humanitarian aid through diverse projecls spanning healthcare, education, shelter, livelihood support, and emergency relief to assist vulnerable populations woddwide. Sreepur Village and Salam have a MOU in place forsalam tofinanciallysupportour SPP medical clinic {renamed to Sifa Clinic) and various training initiatives. Our 2024 Big Give campaign. titied "It Takes a Village lo Raise a Child." focused on children's education while continuing our annual tradition of doubling donations through this special fundraising initiative. 16
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. RESTRICTED FUNDS - continued At 01.04.2023 At 31.12.2023 Prior year Income Expenditure Mountain Warehouse Ambassadors for Good Bicycle repair project Climate Crisis Village Maintenan Agricultural Trainers Discharge kits Teacher Swim safe Big give Randall Charitable Foundation 30,000 5.080 5,400 7.500 21,700 1,000 2.600 2,400 {30,0001 {5,080) 5,400 (7,5001 {21,7001 (1,0001 {2,600) (2,4001 (3,0001 {7,0431 (6,0001 3.000 3.378 6,000 15.585 11.920 12,378 91,265 {86,3231 17,320 Through De Beers, charitable initiative "Ambassadors for Gcx)d." we received funding specifically designated to support Ihe development and launch of new products in our comrnunity enterprise program. The climate crisis funding originated from our 2022 Big Give campaign. with Coles-medlock SeIng as Ihat yearfs champion funder, providing crttical support for our environmenlal suslainability initiatives. Agricultural trainers provide essential faming education to mothers, teaching sustainable techniques for growing fruits and vegetables-practical skills they can implement when retuming to their home communities for improved self-sufficiency. Swim Safe, our annual summer fundraising campaign, seeks donakn'ons to provide swimming lessons to children in Bangladesh, where an average of 50 children tragically lose their lives to drowning each day. Randal Charitsble foundation - donati( towards Child & Mother Care and vocational training. 17. DESIGNATED FUNDS At New 01.01.2024 Designations Designations released At 31.12.2024 Current Year Investments Tangible fixed assets Mainternan and capital fund 1.164,921 940 100,000 47,981 1,212,902 470 100,000 14701 1.265,861 47,981 14701 1,313,372 Investments - represent the value of funds held in the investment portfolio sel aside to generate a stream of income to support the charitable expenditure. Tangible fixed assets - represent the value of tangible fixed assets held for charitable use. maintenan and capital support - to cover one-off costs relating to maintenance, capital projects including building works. 17
THE SREEPUR VILLAGE, BANGLADESH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 At New 1.4.2023 Designations DesignalSons released At 31.12.2023 Prior Year Investments Tangible fixed assets Maintenan and capital fund 1.177.810 (12.889) 1,164.921 940 100.000 940 100.01)0 1,277,810 940 (12,889) 1,265,861 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year Restrfcted Funds Deslgnated Funds Unrestrlcted Funds Tolal Funds 31.12.2024 Tangible fixed assets Investments Net current assets 470 1,212,902 100,000 470 1,212,902 188,895 44.734 44,161 44,734 1,313,372 44,161 1,402,267 Prlor year Restrfcted Funds Deslgnated Funds Unrestrlcted Funds Tolal Funds 31.12.2023 Tangible fixed assets Investments Net current assets 940 1,164,921 100,000 940 1,164,921 146.935 17.320 29.615 17.320 1,265,861 29.615 1.312,796 19. RELATED PARTY TRANSACTIONS There were no related party transactions during the year (2023.. None). 18