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2021-06-30-accounts

A n n u a l R E P O R T

Year Ending 30 June 2021

info@childrenofthemekong.org 13b Taylors Green • London W3 7PE • UK Charity Registration: 1116375

Annual Report 2021

IN ~~SOUTHEAST ASIA~~ Our COVID response

Children of the Mekong works in six countries of

Southeast Asia , all of which have been affected by the Covid-19 pandemic. The most difficult problems to face for the families we work with are the increase of prices of raw materials and food, job losses and school closures for months on end.

Thanks to our network of local managers we have been able to keep operating, and the need for our services is greater than ever. Indeed, it is the most vulnerable who are being hit hardest by the pandemic. Some families we support struggle in normal times to put food on the table just once a day; today they are

in dire straits, battling not only with shortages, but with lockdowns, and an associated increase in domestic violence and community tensions.

Faced with these disastrous situations, Children of the Mekong’s projects have three priorities:

marriage. Finally, for families who have them, children are exposed to screen addiction.

Many local programme managers organise courses for young people in villages. This allows to provide them with a framework, a secure environment and to keep a school rhythm. Despite lockdowns they continue to learn.

Children of the Mekong’s emergency aid principles

P RIORIT Y 1

Maintain child sponsorship assistance

Thanks to our network of local programme managers, Children of the Mekong is maintained at more than 95% the distribution of the child sponsorship money.

P RIORIT Y 2

Meet the nutritional needs of families

We have responded to many local requests in our 6 Asian countries, providing basic necessities, mainly rice and hygiene kits.

P RIORIT Y 3

Wider reach

No duplication of effort

We continue to focus on responding to the needs of the sponsored child and their family. But we also support their extended families and community, whenever they are affected. If there is a reliable local leader we can offer further assistance in the long term.

Check that aid is not already available locally.

Fight against dropping out of school

The pandemic has had a significant impact on the lives of children and adolescents since the start of 2020. Most schools are still closed, children are going around in circles at home or returning to help out in the fields or at the factory. Consequently, many will not go back to school next year. In addition, some young girls face the risk of early

Towards sustainability

Work out how to move towards a sustainable solution. (“Give a man a fish and he will eat for a day. Teach a man how to fish and you feed him for a lifetime.”)

Testimonial

~~ALICE LELONG,~~ ASSISTANT TO THE ASIA DIRECTOR, BASED IN BANGKOK

Even having experienced the lockdown in the heart of Asia, it is difficult to appreciate what fragile populations are experiencing. Which of us can say that we have actually experienced hunger? Thousands of families in our countries of operations did not know what they were going to eat the same evening. In 2020 there are still people dying of hunger, and this reality is unfortunately

aggravated by the pandemic. I will particularly remember the example of Khun Da, a volunteer committed with Children of the Mekong for 40 years. She has worked hard to provide life-saving assistance to illegal refugee families in Bangkok. Like Thavong’s family from Vietnam: “When the school was open, the children were allowed to have lunch. Now that there is no school, we have to make do with one meal a day. Thanks to these donations, we can pay our rent and buy rice and milk for the baby. Many thanks to the donors.»

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Annual Report 2021

Our impact in Southeast Asia

CHILD SPONSORSHIP

Country repartition (UK sponsors)

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Cambodia
39 Laos
+12 2
Philippines
30
+2
1 Thailand
+2
15
+43 Vietnam
126
Myanmar
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Total: 213 (+59 comparing with the previous year)

on three main criteria: 1) poverty and 2) how motivated the child is to go to school 3) and the family’s motivation to send them to school for as long as possible. As soon as sponsorship starts, the child is part of a programme and is personally followed by our local manager. They make sure the sponsorship is used correctly and that the child’s needs are prioritised.

Sponsorship allows a child to attend school. It gives a child the means to take charge of their life and that of their family. The sponsored child wakes up every morning and makes their way to school

22,900 sponsored children of which 213 from UK based sponsors

instead of going to work in a rice field or a landfill.

Our local managers know the families and their needs. Along with our overseas volunteers “Bamboos”, they select sponsored children based

OUR EDUCATION CENTRE IN SAMRONG, CAMBODIA

The Covid-19 pandemic has so far caused less sickness in Cambodia than in most other parts of the world, but the country has nonetheless suffered greatly from the downturn in the global economy and the closure of international borders.

In December, at the end of a chaotic academic year characterised by school closures, distance learning and repeated postponement of assignments and assessments, the government decided to award the baccalauréat (the local equivalent of UK A-levels) to all pupils in Grade 12.

monitoring, which have kept the dropout rate low despite the circumstances and produced good end of year exam results for pupils of all ages. With our boarding houses empty, staff and volunteers have been providing more support for pupils living at home, which has boosted their motivation.

Our Khmer staff and overseas volunteers have done a wonderful job during the pandemic. The local representatives of the Ministry of Education have praised our online courses, and our approach to pupil

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Annual Report 2021

Our impact in Southeast Asia (continued)

CARE AND PROTECTION OF CHILDREN LIVING IN REFUGEE CAMPS IN TAK, THAILAND

The refugee camps in Tak province host 55,000 people who had been fleeing ethnic conflicts in Myanmar for decades. Thailand ensures that the camps are safe, but does not allow refugees to work or leave. Therefore, families are dependent on international aid for every aspect of their lives, such as food, building materials, clothing, and other necessities.

The overcrowded camps are plagued by poverty and diseases. This project addresses the urgent need to respond to the high risk of abuse and denial of basic needs among children living in refugees’ camps along the Thai-Burma border. Our local partner is COERR, which whom we have been working for the last 15 years. COERR is the branch of Caritas Thailand which looks after refugees and displaced people, particularly in the province of Tak, where they identified 190 cases of child abuse at the start of 2020.

This project aims at giving 190 at-risk children the chance to:

1) Find a placement in a foster family within the camp.

2) Provide each foster family with an allowance to cover the extra costs such as food.

3) Provide each family with training before the beginning of fostering.

BUILDING A NEW BOARDING HOUSE FOR HIGH SCHOOL GIRLS IN MINDAT, MYANMAR

A chain of unfortunate events has delayed the building of a boarding house for girls in Mindat. Firstly, the COVID-19 pandemic has slowed the transport and delivery of non-essential goods necessary to the site’s construction. Moreover, the quarantine and curfew implemented to prevent the propagation of COVID-19 delayed the project’s progress. The political climate also affected our work in Mindat. Since the coup last February, negotiations between the official army, the Tatmadaw, and a local armed group, the Chinland Defence Force (CDF), failed, resulting in a wave of

violence in the region. When the CDF did not obtain the release of prisoners they requested, the group attacked the military. In retaliation, Tatmadaw carried out air raids and artillery bombardments in the city. Many people decided to flee the city. Because of the COVID-19 pandemic and the violence in the region, construction workers were unable to work on the site. Nevertheless, as soon as the situation in Myanmar allows, the construction will resume. We are indeed eager to provide to Mindat’s students a space in which they can live and study.

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Annual Report 2021

Farewell TO OUR ~~CHARITY SHOP IN LONDON~~

On Friday 30 May 2021, we closed the door of our charity shop for the last time. After 7 years of business, it is the end of a chapter. Where does it all started?

the shop is due to BREXIT, and not COVID. Indeed, the new immigration law does not allow European students to carry out unpaid internships in the UK. Our business model would have not been sustainable without the interns, and this is why we had to close down the shop.

In 2013, Children of the Mekong in the UK was growing, and we were looking for an office space. However, one of our core value is to keep admin costs as low as possible, and we didn’t want to pay for office space in London. Two of our Trustees suggested to open a charity shop. After six month of market survey and business plan, we found the shop on Lavender Hill with a huge basement, which was perfect to host the charity office.

The closing of the charity shop is the end of a chapter for Children of the Mekong, but not the end of the story!

We are extremely grateful to all the interns, volunteers, customers and donors who made this shop special.

Despite the challenging year we had, the closing of

~~WHAT~~ ’ ~~S NEXT FOR THE~~

coming year

In Souhteast Asia, the second wave of COVID-19 hit hard and we keep on receiving many calls for help. We will carry on the food distribution as well as programmes to fight school dropout in our countries of operations. In Myanmar, the coup of the 1st of February 2021 put an end to the democracy transition started a decade ago. The country is at the edge of a civil war, and our local programme managers are sending desperate calls of help as the situation is really difficult in some areas.

At Children of the Mekong UK, following the closing of the charity shop, our team is now focused on digital marketing to find new child sponsors and donors. We will also raise awareness among pupils and young people in schools in the UK. The aim of the project is to encourage young people in the UK to fall back in love with education thanks to the amazing success stories full of hope that we receive from our sponsored children in Southeast Asia. Finally, Children of the Mekong will continue its international development in the USA, the Netherlands and Hong Kong, especially by facilitating our child sponsorship programmes.

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Financial R E P O R T

CHARITABLE EXPENDITURE

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Cost of
charitable
activities
8%
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Year Ending 30 June 2021

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Charitable
expenditure
92%
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INCOMING ~~RESOURCES~~

Other incoming Donations resources from 14% individuals 37%

Grants from foundations 49%

info@childrenofthemekong.org 13b Taylors Green • London W3 7PE • UK Charity Registration: 1116375

Annual Report 2021

Trustees’ report

Including directors’ report For the year ended 30th June 2021

Reference and administrative details

Charity number 1116375
Company number 05860929
Principal Ofce Children of the Mekong, 13b Taylors Green, London W3 7PE, UK
Bankers HSBC, 8 Canada Square, London, E14 5HQ
Independent Examiner Charles William and Siddiqui, Park View, 183-189 The Vale, London W3 7RW

Directors and Trustees : The Directors of the charitable company (the “Charity”) are its trustees for the purpose of Charity Law and throughout this report are collectively referred to as the Trustees.

The Secretary is Eugenie Munakarmi Prouvost, also COO, appointed 4th June 2011.

Structure, Governance and Management

The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served for the period and since 30th June 2021 are:

projects, including networking, fundraising and event organising. On top of chairing the meetings of the Board, the Chairman is also responsible for the finances and administration of the Charity. The Secretary manages the day-to-day operations of the Charity.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding-up.

Governing Document : Children of the Mekong (‘COTM’) is a company limited by guarantee, incorporated on 28th June 2006 (formerly known as “The Minerva Tree House”), and governed by its Memorandum and Articles of Association as amended by special resolution dated 23rd August 2006. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company subject to application to and approval by the Trustees. In the event of the company being dissolved, members are required to contribute an amount not exceeding £10.

Appointment of Trustees : As set out in the Articles of Association a new Trustee may be appointed by ordinary resolution of the Company. Trustees are elected annually by the members of the Charity attending the annual general meeting (“AGM”) and serve for a period of two years. All members are circulated with invitations to nominate Trustees prior to the AGM advising them of the retiring Trustees and requesting nominations for the AGM.

Trustee induction and training : The existing Trustees were made aware of their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association, the committee and decisionmaking processes, the business plan and recent financial performance of the Charity upon the incorporation of the company. The existing Trustees advised that all new Trustees should take a course before joining to ensure that they are up to date with the latest regulations.

Organization : The Board of Trustees (the “Board”), is currently made up of eight Trustees but can have up to 15 members. It administers the Charity and meets twice a year. Trustees are expected to take active participation in the running of the Charity and the management of its

Related parties : The Charity is the UK branch and representative of Enfants du Mekong and has defined this relationship and the rights and obligations of each party in a memorandum of understanding dated 21st July 2011.

Risk management : The Trustees have a risk management strategy that comprises: i. Assessing the feasibility of each project and establishing the funding capabilities of COTM ii. Assessing all potential projects in order to avoid safety risk for the Charity, the Trustees or any other parties involved iii. An ongoing review of any major risks to the Charity and a subsequent establishment of systems and procedures to mitigate those risks identified.

Principal Funding Sources : COTM is carrying excess funds brought forward. In the financial year, the principal funding sources were as follows: private and company donations, income from the charity shop, grants from Trusts and Foundations, and proceeds from events. Each donation is confirmed by the donor as unrestricted or restricted and then designated accordingly by the COO for a country of operation or a specific project.

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Annual Report 2021

Trustees’ report (continued)

Investment Policy : The funds received are held in currency current accounts at an interest rate negotiated by the Trustees with the Bank. For the avoidance of doubt, given the current volatile markets, the Trustees will not seek higher-risk products and will restrict the cash management to term deposits with the Bankers (currently, HSBC Bank plc). Any funds surplus to a designated project will be used for the continued maintenance or further improvement of the project, or allocated to another project at the discretion of the Trustees.

Reserves Policy : A reserve policy has been voted in July 2015 by the Board of Trustees, which designates £30,000 as a contingent fund to cover unexpected conditions or losses in the running of the charity. It would allow COTM to run 6 months without income.

Plans for future periods : The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

Public benefit statement : The management committee confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit “Charities and Public Benefit”.

Approved by the management committee on 19/07/2021 and signed on their behalf by Jean-Marc Debricon, Chair of Children of Mekong.

Surplus reserved at the end of the year amount of £30,000.

The present report and accounts are for the year that ended 30 June 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Companies Act 2006 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 and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity’s objects are improving access and quality of education for poor children in Southeast Asia through education programmes. More information on pages 1 to 8 of this report. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

The charity has assessed the major risks to which the charity is exposed and is satisfied that systems are in place to mitigate exposure to the major risks. The report was approved by the Board of Trustees. Dated: 19/07/2021

Trustees’ responsibilities in relation to the financial statements

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

The Trustees are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 (the “Act”). The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The members of the charitable company are listed on page 7. They guarantee to contribute an amount not exceeding £10 in the event of winding up. The total number of such guarantee on 30th June 2021 was 8.

Approved by the Directors on 19th July 2021 and signed by:

Name: JEAN-MARC DEBRICON Title: Chairman

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Annual Report 2021

Statement of financial activities

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Unrestricted Restricted Total Total
INCOME AND EXPENDITURE Funds Funds Funds Funds
2020/21 2020/21 2020/21 2019/20
£ £ £ £
----- End of picture text -----

Incoming Resources Notes
Voluntary Income 6 26,080 180,729 206,810 179,043
Other Incoming Resources 7 32,949 0 32,949 20,976
Investment Income 8 3 0 3 48
Total incoming Resources 59,033 180,729 239,762 200,066
Resources Expended
Costs of Raising Funds 9 -19,953 0 -19,953 -35,084
Expenditure on Charitable Activities 10 -30,891 -185,642 -216,533 -149,688
Total Resources Expended -50,844 -185,642 -236,486 -184,772
Net Incoming/Outgoing resources
Net income/(expenditure) for the year 8,189 -4,912 3,276 15,294
Transfers between funds – current year 0 0 0 0
Net movements in funds 8,189 -4,912 3,276 15,294
Reconciliation of Funds
Total funds brought forward 30,048 49,091 79,139 63,845
Adjustment for FX Gain/loss 0 0 0 0
Total Funds Carried Forward 11 38,237 44,179 82,415 79,140

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

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Annual Report 2021

Balance sheet

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2020/21 2019/20
£ £
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Current assets
Cash at bank and in hand 82,415 79,140
Net assets 82,415 79,140
The funds of the charity
Unrestricted income funds 30,048 26,723
Restricted income funds 49,091 40,757
Total charity funds 79,139 67,480

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The accounts were approved by the Board on 19/07/2021.

The notes on pages 10 to 12 form part of these accounts.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30th June 2021. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.

Name: JEAN-MARC DEBRICON Title: Chairman Company Registration No: 05860929

Notes on the accounts

1) Accounting policies

Charity information

Children of the Mekong is a private company limited by guarantee incorporated in England and Wales. The registered address is 7 Englewood Road, London SW11 9PA.

1.1 Accounting convention

The accounts have been prepared in accordance with the Companies Act 2006 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 and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the charity continues to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and a receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales-related taxes.

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Annual Report 2021

Notes on the accounts (continued)

1.5 Resources expended

Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered and is reported as part of the expenditure to which it relates. Governance costs comprise of those costs associated with meeting the constitutional and statutory requirements of the charity and include bank charges and other bank-related expenses. Due to projects being abroad, to meet the objectives of the charity, funds are received and disbursed in foreign currency, thus incurring bank charges. These have therefore been included under governance costs as it is an integral part of the running of the charity to receive and disburse funds.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3) Trustee’s Remuneration

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. There were no trustees’ expenses or related party transactions during the financial year ended 30 June 2020.

4) Employees

There was only one employee during the year who received less than £60k in total employment benefits.

5) Foreign Currency Translation

Funds are held in one of three currency accounts, depending on the origin of the donation: GBP, USD and EURO. USD and EURO funds are eventually converted in GBP before disbursements in GBP are made to EDM. Disbursements can also be made in EURO or USD to EDM. For the purposes of the report and financial statements, USD and EURO funds were reported at the appropriate FX rates as at 30th June 2021.

6) Voluntary Income

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Voluntary Income Unrestr. Restr. Total
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Donations from
individuals		 3,292 86,357 89,649
Grants from
foundations		 22,788 94,373 117,160
Total 2020/2021 26,080 180,729 206,810
Total 2019/2020 93,493 85,550 179,043

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2) Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

7) Other Incoming Resources

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Other incoming resources Unrestricted Restricted
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Other Income Resources 32,949 0
Fees received 0.21 0
Total 2020/2021 32,949 0
Total 2019/2020 20,976 0

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Annual Report 2021

Notes on the accounts (continued)

8) Investment Income

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Investment income Unrestricted Restricted
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Investment income 0 0
Bank interest 3 0
Total 2020/2021 3 0
Total 2019/2020 48 0

9) Costs of Raising Funds

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Costs of Raising Funds Total
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Event expenses -7
Website
Salaries		 -79
-15,133
IT & Communications -1,661
Utilities -996
Fees Paid -2,077
Total 2020/2021 -19,953
Total 2019/2020 -35,084

10) Expenditure on Charitable Activities

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Unrestr. Restr. Total
£ £ £
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Child sponsorship 0 -69,451 -69,451
Samrong, Cambodia 0 -50,220 -50,220
Refugees in Tak, Thailand 0 -9,000 -9,000
Mindat, Myanmar 0 -16,445 -16,445
Batang Mekong,
Philippines		 0 -1,494 -1,494
COVID 19 Appeal 0 -39,032 -39,032
Pro bono translation
services		 -10,795 0 -10,795
Monitoring & Evaluation -6,486 0 -6,486
Support costs -11,754 0 -11,754
Governance costs -1,857 0 -1,857
Total 2020/2021 -30,891 -185,642 -216,533
Total 2019/2020 -60,650 -89,038 -149,688

11) Analysis of net assets between funds

Purpose of Designated Funds:

Miscellaneous funds : These funds have been designated by the Trustees for the undertaking of several projects in Southeast Asia, including children sponsorships.

Philippines funds : These funds have been designated by the Trustees for the undertaking of a development project in the Philippines.

Contingent funds : These funds have been designated by the Trustees to cover unexpected conditions or losses in the running of the charity. It would allow COTM to run 6 months without income.

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Current
Analysis of net assets between funds
Assets in £
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Miscellaneous funds 32,415
Philippines designated fund 20,000
Contingent fund 30,000
Net Assets at 30 June 2021 82,415
Net Assets at 30 June 2020 79,140

12) Material legacies

Legacy income is only included in incoming resources where the legacy has been received or both the receipt and the amount are known with sufficient certainty. As at 30th June 2021, the Charity had no legacy income.

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Annual Report 2021

Independent Examiner’s Report to Children of the Mekong

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