NEW FUTURES NEPAL LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Company No. 07492988 ftegl¥tsred Charity No. 1142984 {A Company Ilmlt•d by guarant•• and not hAvlng a sharn ¢apltall
NEW FUTURES NEPAL LIMITED INFORMATION Directors Chad88 Barto L99 Brown lapwnled 12 May 20241 Hèlen Crook Paul Grwk Lynn8 McCutch@on A[reW Small Patron8 Sir Chris Boninglon CVO CBE DL Ragist•r•d Offi¢e 18 Easffield Road Le8mington Sp8 CV32 4EX Independènt Examlner Jerroms Wesl Potnt Sgcond Floor Mu¢klow offi Park Mucklow Hlll Halesowen B62 8DY Accountant Susan Ellam ACMA 18 Eastfi8ld Road Leaminglon Spa CV32 4EX Bank•rs HSBC Bank plc Cath8dral Lanes. 5-8 High Streèt. Coventry. CV15RE
NEW FUTURES NEPAL LIIAITED CONTENTS Pag• Report of the Dlrectors Independent Examiner's Report Statement of Flnanclal Activides Balance Sheet io Notes to the Accounts 11
NEW FUTURES NEPAL UAIITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 The Directors present thelr report and accounts for the year ended 31 March 2024. Structure, Govemance and Management The Charity was formed as a company limited by guarantee. The Oirectors who served during the year and at the date of this fftport were.. Lynne Mccutrheon. Andrew Small, Charles Barton. Helen Crook, and Paul Crook. The Director5 manage the affairs of the charitable company in association with the Trustee5 and meet at least five dmes a year at formally convene(I meetings. The Trustee5 who served durinB the year were: Alex Maher. Lee Brown, and Steven Davis. The referen and administrattve details of the Charlty are as follows: Charty Number: Company Number: Registered Office: 1142984 07492988 18 Eastfield Road, Leamlngton Spa. CV32 4EX The role of Independent Examinerforthe Charity 15 appointed on an annual basis. The Dlreaors and Trustees appolnted Jerrom5 GCN in June 2023 to be their Independent Ey2miner. Duringthe Charity's Annual General Meettng held on 30 September 2023. Paul Crook and Lynne Mccutcheon stood down as Directors after beÈng In office for three years. as per the rules set out in the Charity's Arbcles of Association. Both stated that they wished to carry on a5 Dirertors and offered themselves for re-election. The meeting considered each in turn and voted privately. In both cases, they were unanimously re-elected as Dlrettors for a further term of three years. Lynne Mccutcheon stated that as at 31 March 2024, she wished to stsnd down as Charlty Chalrman after servlng for 21 years in the role. Lynne Mccutcheon had, prior to the meetin& notified the Trustees and Direttors of her intent in writing. Lynne's also adSed in her letter that Andrew Small would be willing to take on the role of Chalrman from April 2024. Lynne Mccutrheon conflrmed that Helen Crook, who was unable to attend the meekn.ng in person, was happy to elect Andrew Small. In the meetng, the attending Trustees and Directors discussed privately Andrew's offerto Stand and unanlmousty voted in favour of him tskln8 On the role from l April 2024. With immediate effect. Andrew would assumè the role of Vice Chaim)an and work with Lynne Mccche0n during the period to effectively transfer the role. The Charity thanks Lynne for her unerrin8 leadership and in1ratiOn over that last 21 years. Lynr¢e has led the tharity throu8h sometimes difficult sltuations with sklll. compassion and sophistication. Andrew and all trustees admitted that'she would be a very hard act to follow.. All attendees joinèd in thanking Lynne for her kindness and dedication to the cause. Lynne thanked the trustees antl sald she was grateful to have had the opportunity to have contributed to the charity's succes5 and athlevements. Lynne said the appointment of Andrew was a "perfect fiv,. He has the experieno, èner6y and passion to lead the charity into the next decade and to adapt to the changes occurring in Nepal and worldwide.
NEW FUTURES NEPAL UMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 Objectives and Actlvltles The Charity's objectives are: TD relleve and support cases of need, hardship. distress or dlsability for people living in the Federal Democr3ttc Republic of Nepal or for people of Nepalese origin or nationality worldwide: To advance the educational needs of people in the Federal Democratic Republic of Nepal or for people of Nepalese orlgin worldwide,. For such other charitsble purpose5 for Nepalese people as the Trustees may determine from time to time. Publlc Beneflt 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 Ch3rities and Public Benèfit 8uidance states that there are two key prtnc5ples to be met to show the or8ani5ation's aims are for the PLsblic benetit; firstly. there must be identilsable benefit or bènefits and secondly, that the benefit must be to the public or a section of the public. Thè Directors consiilerthat they have complied with Secknon 17 of the Charitie5 Act 2011 and the gUIdan Issued bythe Charlty Commission in respert of Publlc Benefit. Brand Enhancement A major project wa5 undertaken during thè year to"refresh' our brand. It aimed to strengthen visibility and communication strategies, effectively highlight6ng the organisation's mission and impact. The new-look web%te wa5 launched in September 2023 and all of our social medla channels were rebrdnded to align with the new website Flnanclal Report Durlng the year, the Charlty's income amounted to £127547 and total payment5 to support our charitsble activities amounted to £152.013. Overall donations increased from £82,182 to £109,965 which is a increase of 34 %. Thi5 has mainly been because of a drive to fund a new building at the Hope CerEtre- Mandala House. There was an overall decrease of £3,709 in resular donatlons in the year- a drop of 6%. This Is our lifeblood and Is dlsappointing as Indlvlduals cut down on all but necessltles. The Trustees dlscu55ed optimis4ng return5 on Investments, ageIng to explore hl8her-inte5t OpOn$ within the same InstituOn to avoid procedural del3ys. A draft bLEdget for the year 2024125 projecting a £26,)0 deficit was finalised, outlinin8 a fundraing tsrget of £159.000 against expected costs of £195,0(K). The Trustees successfully tssted a nÈw"Sum Up" facility for credit & debit card donations and payments by phone. enhancing fundraisin4 capabilities. parricularly highlighted for uoming events. Page 2
NEW FUTURES NEPAL LIMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 The Dlrectors and Trustee5 have reviewed the ChariV5 C05h position, its Budgets and future planned expenditure and have agreed that the Charlty Is in a sound financial position. RosoNes Pollcy The Charity has a prudent approach in managin8 its resources, parknctslarly when it comes to its Unrestritted Funds. At our year-end, the amount for these funds stsnds at £103,298 Icompared to £145.228 in 20231. The entirety of thig amount has bÈÈn Designated by the Dirertots to support a range of projects. both short- and long-term. These include the work of organlsatlons like Dlsabled Welf3re Association, and Hope Family TrusL In accordance with our Financial ReseNes Policy & Procedures, a shorrfall In reserves of over £55,000 exists agalnst the target set. This shortfall has been calculated by subtracting from the total net assets as at 31 March 2024 the amounts identified as what the Charsty might need to hold as reserves. The potential consequences for the charity of not being able to make up the shortfall shown above are: l. Not being able to provlde the level of funding required by Disabled Welfare Association IHope Centrel in Nepal and Hope Family Trust (Hornbeam Housel In India. This would jeopardise the health. wèlfare and education of approximately 30 children, and the safety and welfare of approximatèly S vulnerable adults that might need to find altern*tvè Ilving and care arrangements. 2. Not being able to finish the bullding of the new Mandala House to such a degree that would make it habitsble. Attlon5 being taken to bring reserves into line wlth ourtarget are: l. Applying to another charity for material fundlng to help with the wsts of building Mandala House. 2. Uslng professional building architècts and construction engineers on the Mandala House project to limit unforèseen 51tuations. 3. Supportlng Hope FamilyTrust to sell Its Hornbeam House a5seL which would brin8 forward our "exit" date and also provSde them with a source of future income when the proceeds are invested. 4. Supportin& Disabled Welfare Association to seek funding from people and organisatr.ons in Nepal, i.e. to slowly lessen the dependence upon New Futures Nepal. 5. Developing marketing mater131s aimed at attracting new UK corporate funding as part of their ESG aclivlties. The dedslon to Deslgnate all of the Unrestricted Funds towards these long-tenn projects was a careful and compasslonate Chol made by the Dirertors and Trustee5. This decisiortr aim5 to ensure that the Charity can maintain consistent financlal backing for these projerts in the face of ongoin8 global challen8es. Given the Charlty's financial performance this year and the ongoing challenges faced by individuals and organlsations In Nepal. thi5 prudent approach is deemed essential. The Charity firmly believes that by operatin8 Wtth 3 high level of prudence, it can better support those who depend on its services. As a resulL the Free Reserves at our year-end are set at zèrn, refiectin8 the Charfty's commitmènt to wisely manawn8 Its resources to have the most significant impact PO55ible. Pgge 3
NEW FUTURES NEPAL LIMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 Other Policies The Chèrlty has policies and procedures for Financial Risk Management and International Grant Aid, Intern31 Charity Financial Controls, Financial Reserves. Trustee Expenses, Investing Charity Funds, Internal Risk ManaBement, Trustee Conflicts of Interest, SafeBuarding, VoluntÈer Recrultment & Selettlon Management, Social Media. Equal Opportunities, Bullying and Harassmen¢ Complaints, Health & Safety and Serious Incident Reporting, at)d Privacy. Achlevements and Perlomiance Charltable Works In Nepal & Indla Hope Cent¥È- Kathmandu. Nepal Supwrt for Disabled Individuals: The Hope Centre continued its mission to support disabled individuals. This included notsble visits from inspiratior¢al figures such as Hari Budha Magar, the first above-knee amputeè to climb Everest, and par44thlete Nirniala Bhandari. These visits aimed ts motivate residents and raise awareness about the challenges faced by indlvlduals with disabilities. New supported-vIng & Restrdentlal Facility: The Mandala House projett commenced with a budget of £IOO,000. This facility is designed to support adults with disabilities, offering actommodatlon for slx adult5, a 5UPPQrt staff member, and their family. It mark5 a significant milestone in provldlng dedlcated accommodation for adults wwth disabilities. The plannlng and design stsges were completed, and construction began following approval from the relevant authoritie5 in Kathmandu. Mandala House Blesslng Ceremony.. A blessing ceremony was conducted durin8 a monttorlng visit by tr(tstees in March 2024, signifying the start of a significant building project aimed at prowding long-term 5UPPOrt for adults wlth disabl1es. Hombeam House- Kalimpon81 Indla Hornbeam House and Hope Family Trust: The l0on project for residents of Hornbeam House In Kalimpong underscored effi)rts to Improve liviD8 conditions for individuals with disabilities. RepaSr works at Hornbeam House were successfully completed wlthin budgeL with surplus funds allocated to redecoratlns the Interlor. Plans to relocate thildren undet Betty and Arlun's care to their prlvatè residence receNed unanimou5 support, emphasising continuity in care and education. It is planned that proceeds from the sale of Hornbeam House will SLtstain the remainirtg children in the care of New Futures Nepal until they have finished their long-term Studies and Hope Family Trust's chafitsble operations in Kalimpong. Pagè 4
NEW FUTURES NEPAL LIMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 Edu¢lonal and Health InMaUves Continued partnershlps wlth local Nfjos such as Disabled Welfare A550ciats"on ILIWAI. Hope Famlly Trust IHFTI and Everest Mera Foundation focu# on providing homÉs. education. and healthcare for disadvantaged children and those with dlsabilities. Financlal support was extended to both the Bhaktapur Parents Group, which provides educatfjon and physlotherapy for chlldren with orebral palsy. and to Nlrmala Bhandarl, for a replacement prosthetlc leg. Thls support hlghllghts ongoing commitment to disability relief. New Relatlonshlps and Collaboratlons Nirmala Bhandari and Tilèk Shrestha represented New Futures Nepal at the Britain-Nepal Non-Governmentsl Organisation Network IBRANNGOI conference held at the 8ritlsh Embassy in Kathmandu. The conference celebrated IW years of friendship btheen Britain and Nepal and emphaslsed partnership, collaboration, and networ. Nirmala. who Ilved at the Hope Centre for more than ten years, shared her personal journey and discussed future plans to introduce inclusive para sports in schools. Nirmala was appointed as our Business Development Ambassador in Nepal in September 2023. In ¢ollaboration with the Nirmala Foundation, New Futures Nepal supported a Yo8a & Hike project. This initiative demonstrated the charity's holistic approach to community developvnent and the well-being of its beneficiarie5. Dhscussions included potential future collaborations and grants to empower local communities further. Monitorln8 and Evaluatlon Re8ularTrustee Monitorin8'. Trustees conducted re8ular visits to ensure the quality and progress of ongoing projects. These vislts included reviewing financial records. parwclpatsng In local events, and interactrng with beneficiarie5 to gather feedback and assess needs. These strategic meetin85 and v15its to project sites in Nepal, help reinforce direct engagement wlth beneficlarles and stakeholder5. Transparency and Accountabllfjty.. New FutLITe5 Nepal maintsined a strong focu5 on transparency and a¢countability through detailed reports. These report5 highlight achievements. financlal status, and future soals, ensuring donors and 5tskeholfJers are well-informed about the charity's Impart and operFons. Fundralslng Campai8n5 and Guides= New Futures Nepal released several fundraising guides to help supporters organise events and campai6ns. These 8uides provide tnnovative ideas and strategies to maximise dtsnations and support the charity's projects. Page 5
NEW FUTURES NEPAL LIMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARGH 2024 cultu Tour to Nepal: This notable hJndrd151ng event Immersed sorne of our UK supporters in Nepalese cutture and vlsited a number of our operational project5 in the wider Kathmandu area. It also successfully ralsed over £5.000 for ongoing projects. Future Events: Frampton Shantymen & Cat Among the Pigeons (May 20241. Aolsin8 Steam Iluly 20241, and New Futures Livè (July 20241. Heartfett Grdtitude New Futures Nepal extÈnds Its gratitude to all sUPPOrters, stskeholders, and trustee5 whose dedication and contribution5 continue to drlve impactful change across communities. As we look ahead, we invite continued collaboration and support to empower indlviduals and foster sustainable development. We especially war*t to extend our heartFelt gratitude to the amazing professionals and small businesses who Eenerously dedicate their tlme and expertise year after yèar. The annual report and acco¢Jnts are sklllfully edited and produced by Iloger Warham, who goes above and beyond by offefins his time and expertise without any charge. And a special shoutout to someone who is truly indispensable to the Charity'5 0peratlons- our exceptional and dedlcated accountsnt, Susan Ellam. All ofthis support from the incredible professlona15 mentioned above. as well as the kind-hearted donors, sponsors, frlends, and family, has truly ma¢Je a tangible difference In the lives of the young people we aim to help. As a team of volunteers united by the same purpose, we work towards empowerin8 underprivile8ed children and adults in Nepal. It is thanks to each and every one of you - we slmply couldn't do It without your support. Statement of Dirertors, Respon5ibilltles The Dlrectors are responslble for Pfeparing the Directors, Annual Report and the financial statements in accordance with applicable law and United Kingdom Aecountlng Standards IUniteLI KinBdom Gènerallv ACpted Accounting Prarticel. Company13w requires the Directors to prepare financlal statements for each financial year which give a trLte and fairview of the state of affairs of the charitsble company and of the Incoming resources, including the income and expendlture. of the charltable companyfor that period. In prep3ring these fi'nancial statements, the Dlrettor5 are requlred to.. • Selert suitable accounting policies and then apply them consistèntly. • Observe the methods and principles in the Charities SORP. • Make judgments and estimate5 that are reasonable and prudent- State whether appllcable UK Accounting Standards have been followed, subjett to any material departure disclosed and explained in the flnancial 5tatements,' and Prepare the financial statements on the going cOnr basls unless it is inappropriate to presume that the ¢haritable company will contlnue to operate. Pagg 6
NEW FUTURES NEPAL UMITED REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2024 The Dirertors are responsible for keeping proper accountfjng records that dlsclose with reasonable accuracy at any fjme the financSal position of the charitable company and whlch enable them to ensure that the financial Statements comply wlth the Companles Art 2006. They are also responsible for safeBuardln8 the 355ets of the charitable comparty and hence for taking asOnable steps for the PVentiOn and detection of fraud and other irregularities. The Oirertors are responsible for the maintenance and intègrity of the corporate and financial information included on the charitable compan$ wèbsite. Leglslation in the United Kingdom governing preparation and dlssemination of financSal statements may differ from legislation in other jurisdictions. y order of th• Board Dlrgctor. Mr Andrew Small Dats: Page 7
NEW FUTURES NEPAL LIMITED INDEPENDENT EXAMINER'S REPORT I report to the char5tytfUStees on my examination of the accounts of the company for the year ended 31 March 2024 which a set out on pages 9 to 15. Responslbllities and basls of report As the charity trustees of the company land also its dlrertor5 for the purposes of company lawl you arè responsible for the preparation of the accounts in accordan¢e with the requirements of the Companies Art 20061'the 2006 Act'l. Having sarfsfied myself that the accounts of the comparry are not QUIred to be audited under Part 16 of the 2006 Art and are eligible for independent examination. I report in respect of my examination of your company's accounts as carrled out under sertion 145 of the Charities Act 20111'the 2011 ACVI. In carrying out my examination I have followed the Directions glven by the Charity Corrsmlssion under section 145lSllbl of the 2011 Aet. Independent examinerfs statsment I have completed my examination. I confirm that no matters have come to my attention in connection with the examinatlon giving me cause to believe that In any material respect: accounting records were not kept in respect of the company as required by sedon 386 of the 2006 Act: or 2. the accounts do not accord with those records,. or 3. the accounts do not comply wlth the accoundng requirements of Section 396 of the 2¢J06 Act other than any requirement that the accounts sive a 'true and fair view, which Is not a matter considered as part of an independent examination,. or 4. the accour>ts have not been prepared in accordance with the methods and principles of the Statement of Recommended Ptseti for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicat¢le in the UK and Republic of Ireland IFRS 10211. 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 understandln8 of the accounts to be reached. Si8ned: MrThomas May Jerroms GCN Limited West Point Second Floor Mucklow Oflice Park Mucklow Hill Halesowen B62 8DY Date: 25 September 2024 Page 8
NEW FUTURES NEPAL LIMITED STATEMENT OF FINANCIAL ACTivmES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Noles UnrestrlGted Fund Rejtrtcted Fund Totsi 2024 Totsl 2023 Inm& and •ndowmw from: Donations arKI legacies 52.157 57,808 109,965 82,182 other trading 8Ctivilies 15,661 fS661 11,122 Investm¢nts 1,921 1,921 Totsl 69.739 57,808 127.547 93.798 Expendlture On: R81slng fijnds 23.980 23.9BO 12,403 Charitable adivities 80,898 71,115 152,013 99.306 Totsl 104.878 71.115 175.993 111.709 Ngt Ineomellexpendlturo) and not movfrmont In funds for the year (48.446} {17.911) {35,1391 (13,3071 Reconclllation of funds: Tol81 fvndg brought fotward 145,228 6.516 151,744 169,655 Tran8fer offvnds (0,791} 6,791 Totsl funds TrIed forw•rd 103298 103,298 151,744 Page 9
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 2024 2023 Curront A890ts Debtors 7,854 14.141 Cash 8t b8ftk and on deF*)8 116.365 153.770 124.219 107.911 Credltor8 Amounts falllng due withln one year 20.921 16,167 Total a88Ots l•s• curr1 Ilabllltl 103.298 151.744 Roprasented by. Unrestricted nd8'. 7{1) - Designated 103.298 145.228 - General Restricted funds 6.516 103.298 151,744 For the financlal year ended 31 March 2024 the company was 8nliUe(I to exemptlon from audit under tlon 477 of the Compantes A(a 2006 relating to small companies. Directors, responsibil&$.. The member¥ havè not rw4uired the compariy lo ¢)btain an audft of Its flnanclal statements for the year in que5tson in ac¢ordan¢e with section 476. The dirècto acknowlèdge th8ir rèsponsibi5ib.es for eomplying wth Ihe requirements of Ihe Acl wrth resp8Ct to aecounting records and the preparation of financial statements. The accounts have been prepared in accordance with the special provlsions appllcabte to MPanIo8 subject to the small Companies regime. Approv8d by thg 808rd of Dlrgctors and ssue on Director.. Mr Andrew Small Company R•g18trntlon No: 07492988 Page ID
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 Ac¢ountlng polle$ 1.1. Charlty Inforniatlon New Fulurts Nvpal Limilod 18 a privatè ComNY limit by guarAftt•• incorpomtgd In Eng12nd 2nd Wales whose company nurnbèr Is.. 07492988. The registered Offi is 18 Eastfield Road, Leamin9ton Spa. CV32 4EX. New FutUTes Ngpal Limited alms lo heEp empower disadvantaged chlldren and adults in Nepal. 12. Basls of preparatlon ol accounts The charity is a publk benefit entity. and the accounts are prepared undgr the historical cost convention, in accordance wth thè Companies Act 2(MJ6, and United lQngdom Applicable Accounting Stsndards IUnile(J Kingdom Generalty Accepted Accounting Practice) and the Charities SORP {FRS 1021, the Fin8nclal Reporbng Standard appIlbI8 in the UK and Republic of Irelttnd leff8otive 1 January 20191. The financial Statements are prepared In sterling, which is the ftJnction81 currency of the Charity. Monetsry amounts in th868 finanryal stslements are rounded lo the nearest 1.3. Incomo and •xpgndStur• Voluntary inojme and donations ars occounled for whon Ihg charity is entiugd to raeeipt and tho amount be rneasure(I wrth reasonable ¢ertalnty. Other incvfne is aUnted for on the 4rya15 ba818. 1.4. Resour¢•s •xpended l expenditure is a¢)t$d for on an 8ccruals basis and has en dassified under he8dinos Ihat aggregate 811 costs relatsd to the category. Where costs c8nnol be diredy attributed to a partl¢xJlar he8oJing. they have been 8llwated to aGtivilies on a basis consistent with use of the resovrces. Expèndlthre on governanc8 costs includè thos• incuTf8d in the gov8m8rth of the eharity and Its Mssets and are primarily a5sooat8d with conslitLrtlonal and stslutory requlrements. 1.5. Grants payoblg Grants are accounted for approvèd by tho Dsrector¥. 1.& Valug addod tax Value 8dded tax is not rewverable by the ch8rltsble company, and whorg incurred ts therefore indLtded in tho rolevant costs in tha statement of financial actlvlties. 1.7. Fornlgn Curr•ney Trnnaladon Monetary a$$ats and liabilittes d6nomlnated in foreign eurrencies are tran8laled into sterfing al the rata of exchange rL&ling 8t tho balance shegt date. Transactions in foreign currenci8s aro r8tx)riJe(J at the rate ruling at the date of thè trdnsaction. All drfferenC ar8 taken to the profft and loss aco)unL 1.8. Fund a¢counti The follovlng frjnds are ty tho thartLy. Unrestrtcted- these 8re funds whlch can b8 used in ac¢))rdance wbth the chwitable obj'ects at the dlscrètion of the directors. Restri¢ted- these are that can only used for pathular restricted purpos wthin the obj8cts of the chority. Restrictit$ aris8 when spefied by the don C when funds are rai1 for particular restricted purposes. Pa90 11
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 1.9. Critical Accountlng Estimates and JuthJements In the appllcallon of the charty's acwuntlng poltaOS. th8 tW8teès are required to make ludgements, estimat88 and 99gumptlons about tho carrying aMjnI of assets and liabilities that are not readly appatenl ffom olher sourGe3. The 8sJmates and underfying assumptions are revlowed on an ongolng basls. Revi5ion8 to accounting estimates are recogni¥etl in the period in which the eslimalo is revised whère the revigon affects only that period or in the perit)Y of lh• revlslon and fvjlurs prfods where th8 r8ViSi affects both current and fvture periods. 2. Ral8lng Fund? 2024 2023 Fundraising event costs 8.615 6.070 Gommunication and webslte 522 SLtbs¢rfplion$ 3.081 Publicty and newslettgr Govemonc8 Cx)8ts 1,130 Travel and subslster*ce 1.510 2.164 Printlng. po8lage and 268 23,980 12,403 3. Charltabl• actlvftles 2024 2023 The Hopè Centra and Hombeam House 39,020 42274 ProjeGts in Nepal 14566 7.204 Supw•rt ¢08ts 2Q512 16.337 80,898 65,815 Educational fe6s The Hope ctre and Hombeam House- Spon8ty A Child 28,687 33,491 New Ann&xe- Manda18 Housè 152.013 99,306 Page 12
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 Support Govemance Gosts 2024 Support Goveman¢e Gos Gosts 2023 Inwranc8 Bank charges Accountancy Professional fees Consumabl85 Provid8nt fund - filak Shrestha Contribution towards salaries Regional manager 452 128 110 580 500 4540 767 373 390 291 3.541 999 752 127 3,420 576 449 13 1,058 2,035 2.035 2,333 2.333 6.354 2.634 10.081 6,906 2,437 6.906 2,437 6S5 2,634 10,061 26.512 1.250 27.762 16.337 1.130 17A67 Analysed betwèen.. Raising fvnd8 CharsLible actlvities 1,250 1350 26,512 1.130 26,512 16,337 16,337 26,512 1.250 27.782 16,337 1.130 17,467 Accountancy >51$ in¢tude £1,620 (2023 £1,oixII, whlch are Payab to the independent examinors. 4. Dlr•ctors and employ••8 No remuneration was paid lo the directors or th8lr connected persons In the year. Expenses reimbursed to four dire¢tors In respect of travgl. postage, stationery and promotlonal material amounted to £156 (2023 - £2,444). There werts no persons employed by the charity during Iha year. S. D•btor8 2024 2023 Gtft aid 4,306 4,113 10,028 14.141 Prep8ymants and awrued Inme 7,654 Pag913
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 6. Credltors 2024 2023 Trade rtilor8 614 Other cdItorS 4.160 13.681 2.125 2,700 Defgtrod income Ac¢ruai8 3,080 20,921 10.728 16.167 Deferred Income conslsts of fvndraislng monies receive(l from pathcipants for everts scheduled lo occur aft8r the y8ar-8nd. These funds 8r• r•cognized 88 Sneome in the reporting poriod when the corresponding fundratslng event successfully tskes p18ce. Monies amounting to £12.445 rolate to the fundrav6in9 tr8k to Ev8r8st Base Camp, whlch is scheduled for September 2025. 7 (11 Unrgstrkctsd funds Gwgral fund At 1 April 2023 N8t Inty)me I (Expanditurel in the year Transfer 145.228 (35.139) (6,7911 103,298 At 31 March 2024 D•slgnatsd funds At l April 2023 Transfer 145.228 {41.930} 103298 At 31 March 2024 The planned use of Designated funds is sot out untler the Reserves policy in Dwectors, Rewrt. Page 14
NEW FUTURES NEPAL LIMITED BALANCE SHEET AT 31 MARCH 2024 7 (ill R¢$trlcted funds Transfer From Unrestrlcted Funds Trnnsfer Between Restritted Funds At 31.03.24 01.04.23 Mo¥ement In Funds R95trlrted funds Skling income for dlsabled equipment 6,516 16,5161 Hope Centre- Annexe 113,3071 6,791 6.516 The Hope Centand Hornbeam House- Sponsor Child 6,516 (15,307) 6,791 Net movement in funds Induded above is made up as follows.. Incomln8 Resource5 Movemert Expended in FuTrds Rtstrfcted funds Skling income for dlsabled equipment Hope Centre- Annexe 29,121 142,4281 113,3071 The Hope Centre and Hornbeam House- Sponsor a Child 28,687 128,6871 57W8 171.115) (13,3071 8. R•l•tsd Party Tran$a¢lloTrs Thore ar8 IKS Related Party Tr8nsactions that require disdosurè. Page IS