Cambodian Children's Fund UK Registered Charity Number: 1135214 Trustees. Report and Financial Statements for the Year Ended 31 December 2023 Apartment 44, 14 Newman Street. London W1T 1PB 07870 592130 admin-uk cambodianchildrensfund.or www.cambodianchildrensfund.or
Carnbodian Children's Fund UK RaStered Charity Number 113521 Trustees Report and Financial Statements Year Ended 31 Decemter 2023 Index Page Legal and administrative information Report of the Trustees Report of the independent examiner Statement of financial activities Balance sheet 10 Notes to the financial statements
Cambodian Children's Fund UK Registered Clk8rity Number 1135214 Trustees Report and Financial Statements Year Ended 31 D8C8mb8r $1Y23 Legal and administrative information Name ol Charlty: Cambcmjian Chiklren's Fund UK Working Name": CCF-UK Charrty reglstratlon number: 1135214 Prlnclpal Address: Apartment 44. 14 Newman Street. London WIT IP8 Telephone: 0787 0592130 Email= admin-uk@cambodianthildn$fUnd.orS Webslte: www.cambodianthildrensfund.org Trustees: Mr Duncan Neale (appointed December 2013) Mrs Andrea Heginbottorn (appointed Septernber 2017) Mr Axel Maier {appointed June 20181 Mr Scott Ne8son (appointed September 20191 Mr Michael Griffiihs (appointed November 20191 Ms Noni Ware {appointed September 2022} Mr. Dan Fk>berts (apwinted December 2023) Bankers: Bardays Bank Fenchurch Streel Leicester LE87 28B Independent Examlner: Ms AdelaKle Amoafo 54 Monroe Crescent Enfi81d, MI18S8x, EN14HT ' The name"CCF-UK" is registered as the Charivs working name 1h Ihe Charity Commission and with Ihe Chanty'sbank8rs
Cambodian Children's Fund UK Registered Charity Number.. 1135214 Trustees Report and Financial Statements Year Endéd 31 December 2023 Report of the Trustees The Trustees present their report along wilh the financial statements of the Charity for the year ended 31 December 20Z3. The Cambodian Children's Fund UK is a UK-based, non-govemmental, non-polrtical, non- religious charity. It is constituted under a Trust Deed dated 28 November 2W9 and is registered with the Charity Commission under registration number 1135214. The legal and administrative infomiation set out on page 1 forms part of this report. The financial statements have been prepared on the basis ol the accounting policies set out in note 1 to the financial statements and comply with the Charty's Trust Deed and Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005). Although not a requirement, the Chaiity has opted to make additional voluntary disclosures in line wtth best practice for larger charities. Structure. governance and rnanagemenl The Trustees who served during ihe period are shown on page 101 this report. The Charity is wholly managed by its Trustees. none of whom receive any remuneration or compensation for costs incurred in perforrning their duties. The Trustees meet at least quarterly. Trustees manage the financial and day-to-day administration of the Charity on a rotating basis. The Charity does nol employ any staff and all volunteers are required to meet their own expenses. However. CCF UK does pay for support on fundraising and administration Trustee recruilment, induction and training The Trustees have the power to appoint new Trustees by a resolution passed al a special meeting of the Trustees. According to the Trust Deed, all Trustees are appointed for a tenm of two years. New Trustees are nominaled by existing Trustees and appointed on the basis of a majority decision of the Trustees. following an assessment ol whether they have the necessary skills to contribute to the Charivs management and development. A suitable candidate may be invited to observe a Trustee meeting prior to taking up any appointment. All initial and new Trustees are required to have completed Declaration of Eligibility and Conflict of Interest Fonns.
Carnbodlan Children's Fund UK Registered Charity Number.. 1135214 Trustees Report and Financial Statemenls Year Ended 31 December 2023 New Trustees are encouraged lo meet with the management of Ihe Charrty's beneficiary organisations in Cambodia. Trustees are encouraged to visit the projects in Cambodia. Currently. there is no on-going training policy in pla for Trustees. Objectives of the Charity The objectives of the Charity, as set out in Ihe Charity's Trusl Deed, in the period under review were: (1) To promote and advance the education of the public in subjects relating to suslainable development and the protection and enhanrnenI ol the country and young people of Cambodia. Sustainable development means 'development wfiich meets the needs of the present without compromising Ihe abilty of fulure generalions lo meet their own needs.. (2) To act as a resource for young people up to the age of 25 living in Cambodia by providing advice and assistance and organising educational, health and other programmes as a means of: advancing in life and helping young people by developing their skills, capacities and capabilities to enable them lo participate in society as independent, mature and responsible individuals; b. advancing education", improving health., relieving unemployrnent" •. providing recreational and leisure lime activty in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infimity or disabilty. poverty or social and econom circumstances with a view to improving the condilions ol lrfe of such persons. (3) To cary out any purpose for the benefit of young people in Cambodia which is Charitable according to the law of England and Wales, as ihe Trustees in their discretion decide. The Charity delivered its charitable objectives during the period by identifying and approving financial granls to a partner organisation. Funding the work carried out by partner organisation{s) was chosen as the optimum model for the Charity, as the Trustees consider it inefficient and unproductive fr'nancially to establish its own infrastructure and slaff in Cambodia. During the period. the Charity made tinancial grants to the Cambodian Children's Fund, a charitable organisation registered and operating in Cambodia. The Trustees have therefore complied with their obligation to exercise their powers and duties for public benefit.
Cambodian Children's Fund UK Registered Cha17ty Number.. 1135214 Tru8tee8 Reporl and Financial Statements Year Ended 31 December 2023 Review of activities, achievements and perforniance The Charity was registered as a Charity in England & Wales on 25 March 2010 and was officially launched on 14 September 2010. During the period 1 January 2023 - 31 December 2023. the Charity's donor base conlinued to strengthen its partnership with the Cambodian Children's Fund {CCF), a charity registeréd in Cambodia and based in the capital cty, Phnom Penh. Based on CCF'S demonstrable ability to use donated funds efficiently and to meel the objectives of the Charity, the Cambodian Children's Fund UK continued to make financial grants to the Cambodian Children's Fund (CCF). The CCF was founded in 2003 and provides life-changing education. n¢)urishment and medical care to vulnerable children from some of Cambodia's most destitute communities. The CCF Currently cares for about 1,800 children and universty students and has an intemationally- acclaimed reputation for its highly efflent use of donor funds. Total grants of US$ 62,135 (£50.000) were awarded lo CCF in the period 1 January 2023 31 December 2023. Advancing education - core and Supplemental education for school students Funds of $51,179 {£41,184) of the grants made during 2023 were allocated to support the education budget for an average of 1.432 students attending school during the year. This represents 1.4•/o of CCF'S education programme. a programme that provides the full Khmer General Education curriculum for secondary level students and also provides additional lessons in English, Khmer, mathematics. science. IT. social studies, the arts & home economics for children at primary school level. This has helped support a100 /0 overall state school pass rate for CCF students and has helped 71 students get to university in the 23124 academic year. which is a remarkable achievemenl considering that they spent their fomiative years working on a garbage dump in Phnom Penh. Other pledges Other pledges were received to cover supporting a range of activities including to support the Girls to Grannies Village appeal and a malched funding appeal matthed by the Jackson Kemper family for a programme to provide a safe home, healthcare and education for CCF'S benefi'ciaries.
Cambodian Children's Fund UK Registered Charity Number." 1135214 Trustees Report and Financial Stalements Year Ended 31 December 20¥8 FSnancial review All of the income of the Charity arose as a result of direct financial donations or from fundraising events. The Charity had brought lomard funds of £34,015. During the year, the Charity raised a total of £148,268 for its charitable purposes, a modest decrease on the previous year mainly as a result of a decrease in Foundalion and individual donor donalions compared to the previous year. The Covid pandemic has made lurKAraising in the corporate world. significantly more challenging. £26,213 of this total was donated via JustGiving. Just Giving charge 5 /0 for their work and there ks a card processing fee (rf appropriate) of 1.25%. £61 ,168 of Ihis total was donated via Stripe, a relatively new paymenl platform adopted by CCF in 2020 due to its low processing lees of 1.75%. In addition Gift Aid, where allowed, is also recovered on this income. The Charity has adrninistrative, fundraising and other overhead costs for the year ended 31 08cember 2023 that amounted lo £29.170. This has decreased on the previous year as the Charity has had less fundraising activities compared to the previous year. The Charity made a grant to beneficiaries in the period of £50,OCK), leaving net reSoUrS of£103,113. Reserves policy and risk managemenl In order to ensure Ihat the Charity is able to function properly and continue to meet its ongoing capital and revenue commitments for the projects tt supports, the Trustees maintain a certain level of reserves, by setting aside cash or other current assets at the end of the year. The Charity's Reserve Policy state Ihat the Trustees will at all times ensure that the charity Carries sufficient reser¥8s to meet any short tenn unforeseen financial pressures. Reserves not othepwise invested as set out in this document will be invested where practicable in a Savings Accounl with the bank accruing interest.
Cambodlan Chlldren's Fund UK Registered Charity Number.. 1135214 Trustees Report and Financial Statements Y8ar Ended 31 D8cemb8r 2023 The Trustees have reviewed Ihe Charity's need for reserves in line with the guidance issued by the Charity Commission. The Charity holds reseNes for the folbwing reasons: to cover the future cost of capital commitments already entered into or under negotiation. lo cover the future running costs of each project for a period of at least oneyear; as protection to enable the Chaiity to continue operating despite catastrophic or less damaging events; and to provide funds which can be designated lo specific projects al short tenn nolice. This figure is constantly reviewed by the Truslees. As at 31 December 2023. the Trustees estimated that the Charity required reserves of £25,000 based on the administrative expenditure and running costs ol the charty in 2023. The Charity's total Unrestricted Funds as at 31 December 2023 were £103.113 whh meanl that the estimated reseNes were covered in full, wilh a reasonable margin lo cover capital and other projects planned by the Charity in 2023. This is a higher level of reserves Ihan is nomal. due to timing of payments lo our partner organisation in Cambodia. wthich are transferred in US $. to achieve a reasonably good exchange rate. The exchange rate deteriorated signifantlY in 2023 but has since improved. The Trustees of Ihe CharTty consider risk management to be of great importance. The Charity has always considered the risks inherent in their aclivities and at all times this consideration forms an important part of Ihe planning and decision-making process. Voluntary help and gifts in kind The Trustees are enormously grateful to the volunteers and friends of the Charity who perfomied services for the Charity free of charge, carried out fundraising on the Charity's behalf or donated theirtime and items forevenls, whTrch has enabled the Charity to operate with minimal overhead costs during the course of its existence. Future plans The Charity will conlnue to worf( wth the Cambodian Children's Fund to support a number of educational projects for children and young adults in PhncKn Penh.
Cambodian Children's Fund UK Registered Charity Number.. 1135214 Trustees Reporl and Financial Stslemenls Year Ended 31 December 2023 The Charity will also seek to attract addilional Trustees and high-profile supporters to bring additional skills to the Charity and to generate greater awareness of the Charity and its objectives among the general publio. The Trustees also intend to continue providing grants to registered charitieslnon-govemmental organisations in Cambodia operating with objectives which are in alignment with the Charity's obje$ and to meet 8merg8ncy medical and nutritional needs as these arise. Statement of Trustees. responsibililies in relalion to the finan¢ial statements Charity law requires the Truslees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the Charity and its financial activities for that period. In preparing those financial statements, the Trustees are Uired to: • select suitable accounting policies and ttien appty them consistently; • make judgments and estimales that are reasonable and prudent; state whether applicable accounting slandards arHd statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements,. and prepare Ihe financial slatements on the going concem basis unless il is inappropriate to presume that the Charity will continue in operational existence. The Trustees are responsible for keeping proper accounting records whh disclose with reasonable accuracy at any time the financial position of the Charity and to enable them lo ensure that the financial slatements comply wilh the Charities Act 2006. They are also responsible for safeguarding the assets of the Chartty and hence for taking reasonable steps for the prevention and detection of Iraud and other irregularities. Independent Examiner The Truslees intend to ask Ms. Adelaide Amoafo ACMA, to undertake the independent examination of the Charity. Signed on behalf of the Trustees Michael Grifffths. Trustee 30 September 2024
Cambodian Children's Fund UK Registered Charity Number.. 1135214 Truslees Report and Financial Slatements Year Ended 31 December 2023 Independent Examiner's Report to the Trustees of the Cambodian Children's Fund UK I report on the financial statements of the Chaiity for the year eTKled 31 Dember 2023, whh are set out on pages 9 1014. Respective resbilitieS of Trustees and ewlner The Chanty's Trustees consider that an audit is not required for this year (under sectTron 43{2) of the Charities Act 1993 (the Act) and that an dePendent examination is needed. 11 is my responsibiltyto: examine the financial statements (under section 43 of theAct); to fomow the procedures laid dw) in the General Directions given by the Charities Commission (under seclion 43(7){b) of the Act),. and to state whether particular matters have come to myallentk)n. Basis of the independent examlnerfs report My examination was carried out in accordan with the General Directions given by the Charity Commissioners. An examinaticffl includes a rev5ew of the accounting records kept by the Charity and a comparison of the financHI statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanaticfis from you as Trustees conceming any such matters. The procedures undertaken do not provtde all the evKlerr£ tt1 would be required in an audit, and consequenlty, I do not express an audit q)inion on the view given by the financial statements. Independent examinerfs statement In the course of my eamination, no matter has to my attention: (11 gives me reasonable cause to believe thal n, any maletial respect, the Trustees have not met the requirements to ensurethal: proFer accountiro records are kepl a(rdan wtth section 41 of the 1993 Ad); and financial statements are prepared whNth agree with the antIng records and comply th the accounting requirements of the Act,. or (2) to which, in my opinion. attenn &Ild be dravm in orderto enaLle a proper uThleland1r of firHncial statements lo bereafd. Ms. Adelaide Amoafo ACMA 54 Monroe Crescent Enfield. Middlesex, EN14HT Dated 9th October, 2024
Cambodian Children's Fund UK RegiSted Charity Number.. 1135214 Trustees Report and Financial Stslements Year Ended 31 December 2023 ststement of financial activities (incorporating an income and expendlture account) For the year ended 31 DecemberaE3 Nole 2023 2022 Donations 148,263 169.019 Bank Interest Total Incoming Resources 169 019 Less: Cost of generating funds Nel incoming resources available For charitable activities 119,098 130,926 Charitable activilies Nel incoming (outgoing) resources 69,098 (64,074) Brought forward funds 34,015 98.089 Total funds carried forward 103113
Cambodian Children's Fund UK Register8d Charity Number.. 1135214 Trustees Fleport and Financial Statements Year Ended 31 December 2023 Balance Sheet As at 31 December2(E3 Note 2023 2022 Current Assets Debtors Cash at bank and in hand 1.662 101,451 9,052 24,963 Net curreni assets 103,113 34.015 Net assets Unrestricled funds General funds 103,113 34,015 Restricted Funds Total Funds 103113 The Financial Statements on pages 9 to 14 were approved by trustees on August, 2024 and were signed on their behalf by: Michael Griffiths Tnistee
Cambodlan Chlldren's Fund UK Restered Charty Number.. l 135214 Trustees Report and Financial Statements Year Ended 31 Decernber 2023 Notes to the financial statements 1. Accounting policies The financial statements have been prepared under the historic cost convention and accordance with alICable accounting standards. the Statement of Recommended Practi "Accounling and Reporting by Charities. (SOAP 2005) and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 1993, as amended by the Charities Act 2006. Incoming resources Recognition of Incoming resources These are included in the Slatement of Financial Activities (SOFA) when: the Charity becomes entitled lo the resources: the Trustees are virtually certain they will receive the resources; and • the monetary value can be measured with sufficient reliability. Donations andgrants Donations and grants are only included in the SOFA when the Charity has unconditional entitlement to the resources. Investment income This is included in the financial aternents when receivable and is gross ofiax. Expenditure and liabilities Expenditure, which is tharged on an accrual basis, is allocated between: expenditure incurred directly in the effort to raise voluntary contributions (costs of generating funds): and Expenditure incurred directly to the fulfillment of the Charity's objectNes (costs in the furtherance of charitable activities). Irrecoverable VAT is charged to SOFA as incurred. Governance costs Truslees do not receive any remuneration or compensation for costs incurred in perfonning their duties and are required to meet their own expenses of attending meetings or visiting projects or beneficiaries in Cambodia. In addition. the costs of the preparation and examination of the statutory accounts and the cost of any legal adVe to the Charty or to the Trustees on govemance or constitutional matters is provided free of charge or costs are covered by supporters of the Charity. The Charity did not incur any governance costs in the year ended 31 DecemberaE
Cambodian Children's Fund UK Registered Charity Number." 1135214 Trustees Report and Financial Statements Year Ended 31 December 2023 Administration and other costs Wherever possible, the Charity seeks to obtain willing donors or supporters to provide materials or services to the Charity. free of charge. This includes the cosl of designing and hosting the Charity's website. the design of leafiets and olher publty materials. postage and communication ¢OSis and the financial and general administration of the Charity. The cost of providing such servtces is not included in the financial statements as a cost or benefit in kind, Grants payable These are only recognised in the financial statements once the Charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid. whichever is the earlier. The Charity has nol made any granl commitments of more than one year. Liability recognition Liabilities are recognised as soon as there is a legal or wnstructive obligation committing the Charity lo pay oul resources. Foreign currency Transactions are denominated in foreign currencies are translated at th8 exchanga rate at the date of transaction. All assets and liabilities denominaled in foreign currencies are translated at the rate of exchange ruling at the balance sheel date. The resulting gain or loss is dea with in the SOFA. Fund accounting Unrestricted general funds represent incoming resourc8s on which there is no restriction, but may be designated by the Trustees for a particular project or area of charitable activity. Restricted lunds are funds that can only be used for particular restricted purposes within Ihe objects of the Charity. They are incoming resources on which the donor has laid down conditions relating to the expenditure thereon or when funds are specifically raised for particular restricled purposes. Gift aid reclaimable on donalions is included with the amount received and, where applicable, credited to the relevant designated or reslricted fund. Taxation The Charity is exempt from taxation on its income and gains where they are applied for charitable purposes.
Cambodian Chlldren's Fund UK Registered Charity Number.. 7 135214 Trustees Report and Financial Statements Year Ended 31 Drntser 2023 2. Expenses The expenses of the Charity can be anatysed as follows: 2023 2022 Admin charges (Just Giving, Stripe, PayPal) Fundraising cost Admin support 3.093 19.692 3.222 28.242 17 3. Details of Charitsble Aclivities The amount spent on charitable activilies is anatysed by programme area as follows: 2023 2022 Education of school children Education of University Sludenis Miscellaneous pledges 41.184 79.175 22.024
Cambodian Children's Fund UK Registered Charity Number.. 1135214 Trustees Report and Financial sLements Year Ended 31 December 2023 4. Grants Payable in 2023 The Charity met its charitable pury)oses by making grants as follows: 2023 2022 Cambodian Children's Fund 5. Employee Costs The charity has no employees. 6. Trustees. expenses and Yemunerntion and relaled party transaclions Trustees are not paid any remuneration and are required to meet their own expenses. except those directly incurTed as part ol the costs of slaging fundraising events. 7. Donated services No material donated services were received in Ihe year. 8. Debtors This represents payments made via Ihird paty payment methods (JustGiving, Stripe and PayPal) not yet paid over to the charity including Gift Aid reclaimable Irom the UK Govemment on donations by qualifying UK taxpayers giving a total of £1,662. 9. Cash ai bank and in hand Cash at bank and in hand was as follows: 2023 2022 Bank balance Petty cash 101,451 24.963