Empowering the disadvantaged . . .
New Futures Nepal Limited ANNUAL REPORT
Annual Report and Financial Statements for the year ended 31 MARCH 2021
NEW FUTURES NEPAL
Company No. 07492988 Registered Charity No. 1142984
(A Company limited by guarantee and not having a share capital)
Directors
Lynne McCutcheon Paul Crook Andrew Small Charles Barton Helen Crook Angela Bowen
Patrons
Sir Chris Bonington CVO CBE DL
Registered Office
18 Eastfield Road, Leamington Spa, CV32 4EX
Independent Examiner
Mr Barry Parker CPFA 22 Rainsbrook Close, Southam, Warks CV47 1GL
Accountant
Susan Ellam ACMA 18 Eastfield Road, Leamington Spa, CV32 4EX
Bankers
HSBC Bank plc Cathedral Lanes, 5-6 High Street, Coventry, CV1 5RE
| CONTENTS | |
|---|---|
| Directors’ Report | 3 |
| Report of the Independent Examiner Statement of Financial Activities |
9 10 |
| Balance Sheet | 11 |
| Notes to the Accounts | 12 |
New Futures Nepal empowers disadvantaged children and adults of Nepal by raising funds for initiatives that promote health, education and independence and supports social integration for children with disabilities to live in the community and within safe and loving homes. We adopt a ‘hands on, personal approach’, keep our administration costs low and work with local charities and organisations worldwide to facilitate the charity’s goals and aims.
2 NEW FUTURES Nepal Annual Report 2020/21
New Futures Nepal Limited
DIRECTORS REPORT
The Directors present their report and accounts for the year ended 31 MARCH 2021.
Structure, Governance and Management
The Charity was formed as a company limited by guarantee. The Directors who served during the year and at the date of this report were: Lynne McCutcheon, Andrew Small, Angela Bowen, Charles Barton, Helen Crook and Paul Crook.
The Directors manage the affairs of the charitable company in association with the Trustees and meet at least five times a year at formally convened meetings. The Trustees who served during the year were: Alex Maher, Jemma Knight, Lee Brown, Steven Davis and Dr Victoria Jenkins.
Public Benefit
The Charities Act 2011 requires all charities to meet the legal requirement that its aims are for the public benefit. The Charity Commission in its Charities and Public Benefit guidance states that there are two key principles to be met to show the organisation’s aims are for the public benefit; firstly, there must be an identifiable benefit or benefits and secondly, that the benefit must be to the public or a section of the public. The Directors consider that they have complied with Section 17 of the Charities Act 2011 and the guidance issued by the Charity Commission in respect of Public Benefit.
Risk Management
The role of Independent Examiner for the Charity is appointed on an annual basis. The Directors and Trustees have been supported on a purely voluntary basis by Barry Parker CPFA, who has been appointed each year since 2015.
International Money Movement & Grant Aid: The Charity operates internationally, regularly transferring funds to Nepal and India. The Directors have taken all possible steps to mitigate the risks involved in such transfers.
During the Charity’s Annual General Meeting held on 7 June, 2020, Lynne McCutcheon and Paul Crook stood down as Directors. Both offered themselves for re-election and the Directors and Trustees attending the meeting unanimously agreed they should be re-elected for a further three years. Lynne McCutcheon offered herself for re-election as Chairman and was unanimously re-elected.
Objectives and Activities
The Charity’s objectives are:
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To relieve and support cases of need, hardship, distress or disability for people living in the Federal Democratic Republic of Nepal or for people of Nepalese origin or nationality worldwide;
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To advance the educational needs of people in the Federal Democratic Republic of Nepal or for people of Nepalese origin worldwide;
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For such other charitable purposes for Nepalese people as the Trustees may determine from time to time.
Regular funds to Nepal are sent by international transfer direct from HSBC Bank.
Most funds are paid to a registered Nepali charity, “Disabled Welfare Association Nepal, Hope Centre”, which is based in Kathmandu. The Nepali Social Welfare Council requires New Futures Nepal to declare annually the amount of funds to be provided in the twelve months following the declaration and these figures are verified and form part of the Nepal Government’s annual checks. Disabled Welfare Association is also audited annually by an external accountant and the Directors are provided with a full set of accounts and audit reports. The Directors also conduct their own comprehensive checks of the books, vouchers and accounting records maintained by the members of the Disabled Welfare Association Nepal, and spot checks are made and payments traced from receipt into the bank to expenditure on agreed items such as school fees, food, medical care etc.
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New Futures Nepal Limited DIRECTORS REPORT
The computerised accounting system used by Disabled Welfare Association is operated by an accountant who is employed to take charge of its bookkeeping. The system is known to the Trustees as it is the same as that operated by Hope Family Trust in India.
Data Privacy:
Following the previous year’s major review of the charity’s GDPR procedures the privacy policy is reviewed and discussed at trustee meetings once a year as a minimum.
Financial Report
Funds are also sent annually to Self–Help Group for Cerebral Palsy Nepal, an NGO based in Dhapakhel, Kathmandu, who is the umbrella NGO for several smaller organisations. These funds are for the benefit of the daycare centre run by Parents Self-Help Group in Bhaktapur for the support of disabled children within the community. A further Memorandum of Understanding was entered into in April 2019 for three years between New Futures Nepal Limited and Self-Help Group for Cerebral Palsy Nepal. This is a large NGO subject to stringent checks by the Nepali Government and New Futures Nepal are again obliged to declare the amount of funds to be sent each year. Directors use their best endeavours to check that the funds are used as intended by visiting the project whenever possible during their visits, and by keeping in contact with the NGO.
One-off payments are sometimes made to other NGOs in Nepal and a test payment of £50 is always made before any larger amounts are transferred. Directors use their best endeavours to check that funds have been spent as intended whenever possible during their annual visits to Nepal.
Funds sent to India are subject to Indian Money Laundering Regulations which specify that foreign charities may only transfer funds to Indian charities licensed to receive foreign funds. New Futures Nepal regularly transfers funds by international transfer direct from HSBC Bank to The Hope Family Trust in Kalimpong, West Bengal. This charity is audited annually by the Indian Government and again we receive a copy of the accounts and audit report.
International Monitoring of Projects & Grants:
As stated in the previous paragraph, the Charity reviews audited accounts of Disabled Welfare Association and Hope Family Trust each year and receive written reports and financial statements from Cerebral Palsy Nepal. A document detailing how to check and monitor when “on the ground” has been compiled by two of the most experienced trustees and is available for all trustees as guidance and a checklist. Due to the global pandemic no trustee monitoring trips to Nepal or India took place during the year to March 2021 and there are no plans to travel for the foreseeable future. Procedures have been put in place to check books of account online using the internet and Zoom conferences are organised to keep in touch with teams in both countries.
During the year, the Charity's income amounted to £117,687 and total payments to support our charitable activities amounted to £114,115. Overall donations were up from £89,285 to £112,302 which is an increase of 26%. This increase was mainly due to a rise in oneoff donations as supporters “dug deep” to support our additional projects relating to the ongoing pandemic. It was very encouraging to see the continued increase in the amount of regular donations over the last few years, with this year seeing an increase of about 6%. Income from regular monthly donations represented approximately 55% of the Charity's income; this remains our lifeblood which we continue to try and increase.
The Directors wish to highlight that the budgeted deficit of Income over Expenditure was thankfully not realized and the Charity actually achieved a surplus of £813. This difference was caused mainly by better-than-expected fundraising income. The strength of the Charity’s balance sheet remained positive with little movement in the value of net current assets.
The Directors and Trustees have reviewed the Charity’s cash position, its budgets and future planned expenditure and have agreed that the Charity is in a sound financial position.
Reserves Policy
The Charity operates a Reserves Policy for its Unrestricted Funds and the level of these at our yearend is £162,976 (2020 - £164,573). The level of funds Designated by the Directors at our year end is the whole of this amount. Exceptionally, the Directors and Trustees made the decision to Designate all its Unrestricted Funds to support its long-term projects, i.e. Disabled Welfare Associate, Self-Help Group for Cerebral Palsy, and Hope Family Trust. This decision was made to enable the Charity to sustain its financial support of these projects for as long as possible during the period of the global pandemic. The Charity believes that, given its continued reduced forecast for fundraising income combined with the likelihood of continued hardship faced by people and organizations in Nepal, it is necessary to operate with acute levels of prudence. The level of Free Reserves at our year end is therefore zero.
4 NEW FUTURES Nepal Annual Report 2020/21
Other Policies
The Charity has policies for Reserves, Safeguarding Vulnerable Adults & Child Protection, Equal Opportunities, Health & Safety, Travel & Expenses, Privacy, Conflict of Interest, Financial Controls, Risk Management and Volunteer Management.
Achievements and Performance
Our financial achievements this year surprised and delighted us. Having revised down our fundraising target early in the year we in fact exceeded our budget by 18% and raised £118,000 during the twelve months. As a result we achieved another milestone in that the total of funds raised by the charity since inception has now surpassed £2,000,000. Congratulations and thanks to everyone who has helped us make this happen. It is no mean feat for a small charity run and supported entirely by volunteers.
Those were some of the high points this year and there were obviously some very low points as well. The pandemic took hold in Nepal and India and tragically many lives were lost. The situation was catastrophic for the millions who depended on day wages and tourism and in addition to a lack of food and medicine across Nepal, a severe lack of PPE in rural areas left many communities vulnerable.
As a charity we were in a strong position to face the financial impact of the pandemic having long held an emergency fund for this level of unforeseen event.
As well as continuing to support our long term projects in Nepal and India we were able to provide pandemic aid to fund an outreach scheme to provide essential food and supplies to families in Kathmandu, warm clothing and blankets to schools and rural communities around the capital and in the rural areas we funded PPE equipment and essential medicines.To achieve the provision of this one-off financial aid the charity worked with its established and trusted partners in Nepal and India ensuring the speedy safe transfer of funds to
NEW FUTURES Nepal Annual Report 2020/21 5
New Futures Nepal Limited DIRECTORS REPORT
where they were most needed. We were provided with good reports and many photographs of the aid being distributed which were posted to our social media sites. In that way our supporters were kept informed and we encouraged donations. Mid way through the year we took the decision to provide an emergency fund to Disabled Welfare Association in Kathmandu and Hope Family Trust in Kalimpong to be used only for Covid necessities such as vaccines or treatment for a sick child or adult. Thankfully the funds were not required during the year but they will remain in hand until all threat of Covid is past and they can be absorbed into general funds.
The charity held no live fundraising events during the year but that didn’t stop our supporters from getting out and raising funds. We were deeply touched by the lengths individuals and groups went to in response to our crowdfunding campaign and appeals for help. In spite of being locked down they took part in crazy challenges often in their own homes and thanks to generous supporters the charity ran online yoga and pilates sessions which were a good way to keep in touch, raise funds and keep fit.
The Charity continues to support its major project in Kathmandu, the Disabled Welfare Association Hope Centre where three of the young adults passed entrance exams to start college life albeit from the safety of the Hope Centre until early 2021 when schools and colleges re-opened. Three more children will be welcomed into the home in their place but only two were able to join the home during the year due to Covid restrictions. Six year old twins Lital and Lahana joined in January 2021 and have already settled in and made friends. During 2021 a vaccination campaign was started in Kathmandu and gradually the team and young adults are receiving their first injections.
6 NEW FUTURES Nepal Annual Report 2020/21
There was some light relief in August 2020 when restrictions relaxed for a short while and children celebrated Fathers Day celebrations with their guardian and our regional Manager Tilak Shrestha making him cakes and sweets. During the year Nirmala Bhandari (who grew up in the Hope Centre and is a great advocate of disability rights and awareness in Nepal) made a short video on her trip on the Nepal East-West highway by 4 wheel scooter in which she proves we can’t always control our fate but we can choose how we respond to it. Nirmala is a shining example of why we continue our work to support disadvantaged and disabled people of Nepal and to create brighter futures. In Nepal the charity also continued to provide funds towards the running costs of the day care centre run by the parents in Bhaktapur for the support of disabled children within the community. The day care centre remained closed during the year and our funds were put aside until the centre is able to open again, hopefully later in 2021. Funds for community food aid were provided during the year to C P Nepal the umbrella group running the self-help groups in Kathmandu.
Schools and colleges remained closed in Kalimpong during 2020 and the children and young adults continued home education including taking final exams and starting college. Happily, in early 2021 two young adults were able to leave Hornbeam House to start college studies in Sikkim and Siliguri. Some of the older children had only shared access to screens and devices which proved difficult at exam time so funds were provided for mobile phones for all the older children in order for them to study online more easily. Online working is well established and in their spare time the children are creating a little home industry making beautiful cushion covers and table runners as well as distinctive and original jewellery.
The trustees continued their quarterly meetings using Zoom and it is hoped that live meetings will start again later in 2021. A review of the charity’s patrons was undertaken during the year and it was agreed that as we had no contact with either Jayne Seymour or James Keech in recent years we would delete their names from our patron list. Sadly, Doug Scott had passed away early in the year and so there remains only one patron, Sir Chris Bonnington.
The Charity renewed its membership of BRANNGO and two trustees are taking a more active role within the organisation which is proving helpful and supportive. Sincere thanks go to those professionals and small businesses who give of their time and expertise each year. The annual accounts are examined and reported upon by a retired accountant, Barry Parker, who works voluntarily and annual report and accounts are professionally edited and produced by Roger Warham, who also gives of his time and expertise free of charge. Heartfelt thanks as always to one person without whom the Charity couldn’t work, its excellent and loyal accountant, Susan Ellam.
It is with the support of all those professionals mentioned above and the generous donors, sponsors, friends and family that the Charity has been able to make a real difference to the lives of these young people. We are all volunteers striving for the same end, to empower disadvantaged children and adults of Nepal. We could not do it without you.
Future Plans
In Nepal the Charity will continue to work with the Disabled Welfare Association Nepal supporting them at the Hope Centre, Kathmandu and hope to see more new children being welcomed to the family as older children leave on their first steps to independence. Two children were welcomed this past year and the third will arrive as soon as Covid restrictions allow. The charity is aware of the Government of Nepal’s policy to work towards deinstitutionalisation of children (Government of Nepal, National Child Rights Council 2020) whilst it is recognised there will always be some children for whom residential care is the only option for the safety of their health and welfare. New Futures Nepal will work with Disabled Welfare Association Nepal to ensure they work within the guidelines contained in the policy.
New Futures Nepal will also continue to contribute towards the running costs of the Parents Self-Help Group in Bhaktapur for children with cerebral palsy and the Charity entered into a new three-year Memorandum of Understanding in April 2019 due for renewal in 2022.
In India, the Charity will continue to support the Hornbeam House family by working with Hope Family Trust in Kalimpong. As previously reported, the Charity has agreed to limit the contributions made to this project over the coming years until 2025/26, when the funding of Hornbeam House will cease. This is in line with plans to help the home become self-sustaining and all of the
NEW FUTURES Nepal Annual Report 2020/21 7
New Futures Nepal Limited DIRECTORS REPORT
children currently in the home will receive funding for their education and further education or vocational training if they are able. Hornbeam House is owned and run by Hope Family Trust, an NGO registered in India, and the Charity will work together with them and the house parents to ensure a smooth exit.
The Charity will seek ways in which they can help with financial aid in Nepal as the country remains one of the poorest in the world and has been hit very hard by the global pandemic. One off projects and short term projects will be favoured preferably working with trusted partner charities and NGOs in Nepal. They will continue to look for other projects in Nepal that meet the criteria of its aims and objectives.
Fundraising is looking up for 2021/2022 as live events are slowly being reinstated and the charity can happily start to re-connect with its supporters and friends face to face. This interaction has been badly missed and we are immensely grateful to all those who have supported and worked for our projects during these tough two years.
A Theatre night is planned in aid of New Futures Nepal at the Priory in Kenilworth on 21st February. The Steam Punk festival “Raising Steam” has become part of the calendar too and hopefully that will take place in mid 2022. Challenge Events are taking off again with two of our loyal supporters already signed up to do the Chiltern 100km and the Royal Parks half marathon is receiving a lot of interest with six people signed up to that event.
The trustees hope to meet face to face before the end of 2021 and some Zoom meetings will continue. Trustees are in the early stages of planning celebrations for the 20th anniversary in 2022/23 and will also review their future plans in a specific meeting likely to be held in 2022
The Charity will keep working to sign-up as many new regular donors as possible, continue to increase its outreach by spreading the word on social media, and work with small businesses, schools, clubs and associations and commercial partners encouraging them to support New Futures Nepal.
Statement of Directors’ Responsibilities
The Directors are responsible for preparing the Directors’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Directors are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.
The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They 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 Directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.
Legislation in the United Kingdom governing preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
By order of the Board
Director: Mr Andrew Small
Date: 25 November 2021
8 NEW FUTURES Nepal Annual Report 2020/21
Examiner’s REPORT
REPORT OF THE INDEPENDENT EXAMINER TO THE DIRECTORS OF NEW FUTURES NEPAL LIMITED
Report to the trustees of New Futures Nepal Limited (“the Company”) on the accounts for the year ended 31 March 2021 Charity No.1142984 Company No. 07492988 set out on pages 10 to 15.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with those records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Barry Parker CPFA 22 Rainsbrook Close, Southam, Warwickshire CV47 1GL
Date: 7 December 2021
NEW FUTURES Nepal Annual Report 2020/21 9
NEW FUTURES NEPAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
Unrestricted Restricted Total
Notes Total 2020
Fund Fund 2021
£ £ £ £
----- End of picture text -----
| Income and endowments from: | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Donations and legacies | 72,157 | 40,145 | 112,302 | 89,285 | ||||||||||||
| Other trading activities | 5,065 | 0 | 5,065 | 50,247 | ||||||||||||
| Investments | 320 | 0 | 320 | 736 | ||||||||||||
| Total | 77,542 | 40,145 | 117,687 | 140,268 | ||||||||||||
| Expenditure On: | ||||||||||||||||
| Raising funds | 2 | 2,759 | 0 | 2,759 | 19,467 | |||||||||||
| Charitable activities | 3 | 76,380 | 37,735 | 114,115 | 87,020 | |||||||||||
| Total | 79,139 | 37,735 | 116,874 | 106,487 | ||||||||||||
| Net income/(expenditure) and net movement in funds for the year |
(1,597) | 2,410 | 813 | 33,781 | ||||||||||||
| Reconciliation of funds: | ||||||||||||||||
| Total funds brought forward | 171,731 | (3,052) | 168,679 | 134,898 | ||||||||||||
| Transfer of funds | ||||||||||||||||
| Total funds carried forward | 7 | 170,134 | (642) | 169,492 | 168,679 |
10 NEW FUTURES Nepal Annual Report 2020/21
NEW FUTURES NEPAL LIMITED
BALANCE SHEET AT 31 MARCH 2021
----- Start of picture text -----
Notes 2021 2020
£ £
----- End of picture text -----
| Current Assets | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Debtors | 5 | 12,459 | 39,908 | |||||||
| Cash at bank and on deposit | 163,674 | 135,352 | ||||||||
| 176,133 | 175,260 | |||||||||
| Creditors | ||||||||||
| Amounts falling due within one year | 6 | 6,641 | 6,581 | |||||||
| Total assets less current liabilities | 169,492 | 168,679 | ||||||||
| Represented by: | ||||||||||
| Unrestricted funds: | 7(i) | |||||||||
| - Designated | 162,976 | 164,573 | ||||||||
| - General | 0 | 0 | ||||||||
| Restricted funds | 7(ii) | 6,516 | 4,106 | |||||||
| 169,492 | 168,679 |
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
Approved by the Board of Directors and authorised for issue on 25 November 2021
A. C. Small
Director:
Company Registration No: 07492988
NEW FUTURES Nepal Annual Report 2020/21 11
NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021
1. Accounting policies
1.1. Basis of preparation of accounts
The accounts are prepared under the historical cost convention, in accordance with the Companies Act 2006, and United Kingdom Applicable Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2015).
1.2. Income and expenditure
Voluntary income and donations are accounted for when the charity is entitled to receipt and the amount can be measured with reasonable certainty. Other income is accounted for on the accruals basis.
1.3. Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with use of the resources.
Expenditure on governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
1.4. Grants payable
Grants are accounted for when approved by the Directors.
1.5. Value added tax
Value added tax is not recoverable by the charitable company, and where incurred is therefore included in the relevant costs in the statement of financial activities.
1.6. Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.
1.7. Fund accounting
The following funds are held by the Charity:
Unrestricted - these are funds which can be used in accordance with the charitable objects at the discretion of the directors.
Restricted - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
12 NEW FUTURES Nepal Annual Report 2020/21
NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021
| 2. Raising Funds |
2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | |||
| Fund raising event costs | 0 | 15,692 | ||
| Communication and website | 360 | 241 | ||
| Subscriptions | 1,511 | 1,138 | ||
| Publicity and newsletter | 149 | 672 | ||
| Governance costs | 739 | 1,012 | ||
| Travel and subsistence | 0 | 712 | ||
| Printing, postage and stationery | 0 | 0 | ||
| 2,759 | 19,467 | |||
| 3. Charitable activities |
2021 | 2020 | ||
| £ | £ | |||
| The Hope Centre and Hornbeam House | 25,998 | 26,691 | ||
| The Hope Centre (Nepal) - Building works | 0 | 0 | ||
| Projects in Nepal | 37,638 | 5,869 | ||
| Support costs | 12,744 | 13,882 | ||
| 76,380 | 46,442 | |||
| Restricted | ||||
| Educational fees | 0 | 625 | ||
| The Hope Centre and Hornbeam House - Sponsor A Child | 37,735 | 37,525 | ||
| Disabled Equipment | 0 | 2,428 | ||
| 114,115 | 87,020 |
NEW FUTURES Nepal Annual Report 2020/21 13
NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021
4. Directors and employees
No remuneration was paid to the directors or their connected persons in the year.
Expenses reimbursed to four directors in respect of travel, postage, stationery and promotional material amounted to £246 (2020 - £3,624).
There were no persons employed by the charity during the year.
| 5. Debtors |
2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | |||
| Gift aid | 5,004 | 1,250 | ||
| Prepayments and accrued income | 7,455 | 38,658 | ||
| 12,459 | 39,908 | |||
| 6. Creditors |
2021 | 2020 | ||
| £ | £ | |||
| Trade creditors | 18 | 138 | ||
| Other creditors | 6,474 | 5,008 | ||
| Deferred income | 150 | 1,435 | ||
| Accruals | 0 | 0 | ||
| 6,641 | 6,581 |
14 NEW FUTURES Nepal Annual Report 2020/21
NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
7 (i) Unrestricted funds
General fund £
At 1 April 2020 164,573
Net income in the year 813
Transfer (2,410)
At 31 March 2021 162,976
Designated funds £
At 1 April 2020 164,573
Transfer (1,597)
At 31 March 2021 162,97
7 (ii) Restricted funds
Movement in Funds
At 1.4.2020 Transfer Outgoing At 31.3.2021
£ £ £ £
4,106 2,410 0 6,516
----- End of picture text -----
© 2022 New Futures Nepal Limited
Design by Roger Warham, Blade Communications 01926 882176
NEW FUTURES Nepal Annual Report 2020/21 15
Empowering the disadvantaged . . .
New Futures Nepal Limited
New Futures Nepal Limited is a registered charity in England and Wales (1142984) and a company limited by guarantee registered in England No 07492988
Head Office and address for donations:
New Futures Nepal Limited 18 Eastfield Road, Leamington Spa, CV32 4EX
www.newfuturesnepal.org info@newfuturesnepal.org
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www.instagram.com/newfuturesnepal
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