NEW FUTURES NEPAL LIMITED
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Company No. 07492988
Registered Charity No. 1142984
(A Company limited by guarantee and not having a share capital)
NEW FUTURES NEPAL LIMITED
INFORMATION
| Directors | Charles Barton |
|---|---|
| Lee Brown (appointed 12 May 2024) | |
| Helen Crook | |
| Paul Crook | |
| Lynne McCutcheon | |
| Andrew Small | |
| Patrons | Sir Chris Bonington CVO CBE DL |
| Registered Office | 18 Eastfield Road |
| Leamington Spa | |
| CV32 4EX | |
| Independent Examiner | Alan Terhoven FCA CA(SA) |
| 2 Dalston End | |
| Milton Keynes | |
| MK10 9QB | |
| Accountant | Susan Ellam ACMA |
| 18 Eastfield Road | |
| Leamington Spa | |
| CV32 4EX | |
| Bankers | HSBC Bank plc |
| Cathedral Lanes, 5-6 High Street, | |
| Coventry, CV1 5RE |
NEW FUTURES NEPAL LIMITED
CONTENTS
| Page | |
|---|---|
| Report of the Directors | 1 |
| Independent Examiner’s Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Accounts | 12 |
NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their report and accounts for the year ended 31 March 2025.
1. 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: Andrew Small, Lynne McCutcheon, Charles Barton, Helen Crook, Paul Crook and Lee Brown. The Directors manage the affairs of the charitable company in association with the Trustees and meet at least four times a year at formally convened meetings. The Trustees who served during the year were: Alex Maher, Lee Brown, and Steven Davis. On 12th May 2024, Lee Brown was appointed as Director of Communications and Fundraising, and in July 2024, Steven Davis took the decision to stand down as Trustee due to his full-time job commitments.
The reference and administrative details of the Charity are as follows:
Charity Number: 1142984 Company Number: 07492988 Registered Office: 18 Eastfield Road, Leamington Spa, CV32 4EX
The role of Independent Examiner for the Charity is appointed on an annual basis. The Directors and Trustees appointed Alan Terhoven FCA as the new volunteer independent examiner, after notice and thanks was given to Jerroms GCN in February 2025.
During the Charity’s Annual General Meeting held on 12 May 2024, a number of organisational changes were made:
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In accordance with our Memorandum & Articles of Association, two Directors Helen Crook and Andrew Small resigned and offered themselves for re-election. Both stated that they wished to carry on as Directors and offered themselves for re-election. The meeting considered each in turn and voted privately. In both cases, they were unanimously re-elected as Directors for a further term of three years.
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Lynne McCutcheon was appointed in a new role as Company Secretary.
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Lee Brown was appointed in a new role as Director of Communications and Fundraising.
Appointment of Ambassadors: We are delighted to welcome Sally Kennedy and David Rivers as our first Charity Ambassadors. Sally, an experienced physiotherapist, acupuncturist and yoga teacher, and David, an engineer with a passion for Nepal, both bring valuable expertise and enthusiasm to our organisation.
2. Objectives and Activities
The Charity’s objectives are:
- 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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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
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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.
3. Financial Risk Management and International Grant Aid
New Futures Nepal recognises the importance of robust financial risk management in its international operations, particularly when transferring funds to Nepal and India. To uphold transparency and accountability, we adhere to our Financial Risk Management and International Grant Aid Policy, which outlines the measures in place to safeguard charitable funds and ensure they are used effectively. Further details on this policy are available upon request.
4. 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.
5. Financial Overview
5.1 Summary of Financial Performance
During the year, the Charity’s income amounted to £121,704 and total payments to support our charitable activities amounted to £145,568. Overall donations reduced from £109,965 to £105,633 which is a decrease of 4%.
The expenditure on charitable activities included the one-off costs of constructing Mandala House in the year of £58,064 and although it was hoped that this would be fully funded by donations, there was a shortfall of £28,431.
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.
5.2 Cost Savings
During the year, New Futures Nepal took several steps to reduce operational costs, delivering immediate savings in some areas while laying the groundwork for future efficiencies.
Key changes included:
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
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Switching online meetings to Google Meet, allowing us to discontinue our Zoom subscription.
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Successfully qualifying for Google Workspace for Non-Profits, eliminating costs associated with business email and productivity tools.
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Securing a volunteer Independent Examiner, reducing professional fees while also initiating a broader review of our financial operations to optimise resources.
These changes collectively amount to annual savings of approximately £3,300, reinforcing our commitment to directing as many resources as possible toward our charitable mission.
Looking ahead, we are exploring opportunities to reduce costs associated with our accounting system. A potential transition to a discounted non-profit package could deliver significant savings in the next financial year.
6. Reserves Policy
The Charity has a prudent approach in managing its resources, particularly when it comes to its Unrestricted Funds. At our year-end, the amount for these funds stands at £59,690 (compared to £103,298 in 2024). The entirety of this amount has been Designated by the Directors to support a range of projects, both short- and long-term. These include the work of organisations like Disabled Welfare Association, Bhaktapur Parents Self-help Group, Everest Mera Foundation, Nirmala Foundation, and Hope Family Trust.
The potential consequences for the charity of a fall in Reserves are:
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Not being able to provide the level of funding required by Disabled Welfare Association (Hope Centre) in Nepal and Hope Family Trust (Hornbeam House) in India. This would jeopardise the health, welfare and education of approximately 30 children, and the safety and welfare of approximately 5 vulnerable adults that might need to find alternative living and care arrangements.
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Not being able to redecorate the exterior and interior of the Hope Centre, which simply delays the necessity of normal building maintenance.
Actions being taken to bring reserves into line with our target are:
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Applying to another charity or trust for grant funding to help with the costs of making Mandala House more sustainable.
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Supporting Hope Family Trust to sell its Hornbeam House asset, which would bring forward our "exit" date and also provide them with a source of future income when the proceeds are invested.
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Supporting Disabled Welfare Association to seek funding from people and organisations in Nepal, i.e. to slowly lessen the dependence upon New Futures Nepal.
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Developing marketing materials aimed at attracting new UK "corporate" funding as part of their ESG activities.
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
The decision to Designate all of the Unrestricted Funds towards these long-term projects was a careful and compassionate choice made by the Directors and Trustees. This decision aims to ensure that the Charity can maintain consistent financial backing for these projects in the face of ongoing global challenges.
Given the Charity's financial performance this year and the ongoing challenges faced by individuals and organisations in Nepal, this prudent approach is deemed essential. The Charity firmly believes that by operating with a high level of prudence, it can better support those who depend on its services. As a result, the Free Reserves at our year-end are set at zero, reflecting the Charity's commitment to wisely managing its resources to have the most significant impact possible.
7. Operational Achievements and Performance
New Futures Nepal continues its mission to empower disadvantaged children and adults in Nepal and India through initiatives focused on health, education, and fostering independence. Over the past year, we have strengthened our partnerships, enhanced our governance structure, and expanded our outreach to better serve our communities. This report reflects our commitment to transparency, effective governance, and the continuous pursuit of our mission to empower the disadvantaged communities of Nepal.
7.1 Activities with Partners in Nepal and India
7.1.1 Disabled Welfare Association
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7.1.1.1 Hope Centre: Providing Care and Opportunity
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Over the past year, New Futures Nepal has continued to provide essential care, education, and support 30 children, students, and dedicated care staff at the Hope Centre. Our partnership with the Disabled Welfare Association has ensured that these young people - many with complex needs - receive the nurturing environment they deserve. With tailored education, therapy, and daily care, we are empowering them to build brighter, more independent futures. Thanks to our supporters, the Hope Centre remains a place of safety, growth, and community for those who need it most.
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7.1.1.2 Mandala House: A New Chapter in Supported Living
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This year marked the completion of Mandala House, a major milestone for New Futures Nepal and the young adults we support. During our previous financial year, in partnership with the Disabled Welfare Association, we completed all design, planning, and municipal approvals, culminating in a blessing ceremony to mark the beginning of a new era. Now fully built and open, Mandala House is home to 10 residents, six of whom have transitioned to a more independent way of life with the right support. This purposebuilt accommodation is a stepping stone towards autonomy, offering a sense of home, stability, and dignity to those ready for the next stage in their journey.
7.1.2 Bhaktapur Parents Self-help Group: Strengthening Families and Futures
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
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New Futures Nepal is proud to support the Bhaktapur Parents Self-Help Group, an organisation dedicated to empowering children with disabilities and their families. Over the past year, our funding has provided approximately 17% of their annual income, helping them sustain vital programs that support 40 children with cerebral palsy and other disabilities, including 19 who attend their day care centre and 21 who receive home-based support due to resource constraints.
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In addition, 42 parents and guardians benefit from training, advocacy, and incomegeneration initiatives designed to improve their long-term stability. Our support has helped the group continue delivering special education, essential therapy, assistive devices, home visits, and skills training—transforming lives and ensuring a brighter future for families facing significant challenges.
7.1.3 Hope Family Trust: A Home, A Family, A Future
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During the year, New Futures Nepal continued its support for the Hope Family Trust in Kalimpong, India, ensuring that vulnerable children and young adults received the care, education, and stability they need. Under the dedicated care of Arjun and Betty, this small family unit has received shelter, food, medical support, and the stability needed to thrive.
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As some of the young people we have supported over the years have gained independence through work or further education, the size of the family has naturally reduced. This has allowed the operation to transition from Hornbeam House to Arjun and Betty’s private home, creating a more sustainable, family-centred environment. Throughout this period, we have ensured ongoing funding for essential care, school and college fees, and the salaries of Arjun and Betty, enabling them to provide round-theclock support. In addition, funding has been allocated to prepare Hornbeam House for sale.
-
With this transition, the Hope Family Trust continues to provide essential care in a more sustainable and family-oriented setting, ensuring that the remaining young people receive the support they need as they move toward independence.
7.2 Fundraising and Events
Over the past year, New Futures Nepal has worked tirelessly to raise vital funds to support our projects, empowering some of Nepal’s most vulnerable communities. Through the dedication of our supporters and fundraising efforts, we have made significant progress while continuing to seek support to sustain our impact.
Mandala House Project
- We proudly marked the completion of Mandala House, a £100,000 purpose-built residential facility on Hope Centre land in Kathmandu. Designed to provide a safe and supportive home for up to six adults with disabilities, along with a support staff member and their family, this project represents a transformative step forward in supported living in Nepal. However, despite this milestone, a £37,710 funding shortfall remains. We continue to reach out to donors and supporters to help bridge this gap and ensure the long-term sustainability of this vital facility.
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
Christmas Fundraising Appeal
- In the spirit of giving, we launched a Christmas appeal to provide warm tracksuits for children at Chheskam Secondary School. With a goal of raising £6,659, we aimed to supply 811 children with essential clothing suited to the challenging mountain climate, ensuring they could attend school comfortably and confidently.
Mindfulness and Well-being Retreat
- January 2025 saw the launch of our first-ever Mindfulness and Well-being Retreat—a weekend of yoga, walking, mindfulness, and relaxation, all infused with a Nepali touch. This unique experience not only provided a space for participants to recharge but also raised crucial funds to support our initiatives in Nepal.
Challenges Through Our Event Providers - Action Challenge and Run For Charity
- Our supporters took on incredible physical challenges to raise awareness and funds for our work. From the London Landmarks Half Marathon in April 2024 to the Winter Walk London in January 2025, participants pushed their limits to champion the cause. These events have strengthened our community of fundraisers and provided much-needed resources for our projects.
Cash4Coins Initiative
- Collection efforts have expanded, with new collection points established in key locations across the UK. Increased awareness campaigns have resulted in a steady inflow of old and foreign currency donations, directly benefiting our programmes. We continue to explore ways to streamline collection and processing, making it easier for supporters to contribute.
These initiatives reflect our ongoing commitment to improving the lives of disadvantaged individuals in Nepal through targeted fundraising and community engagement.
8. Future Plans
8.1 Operational Activities
Future Plans: Expanding Our Reach at the Hope Centre
- With six residents having moved from the Hope Centre to Mandala House, we now have the opportunity to welcome new children who need our care and support. This transition allows us to extend our impact, providing safety, education, and opportunities to even more young people in need. New Futures Nepal remains committed to ensuring every child and young adult in our care has the foundation to thrive.
Mandala House Community Development
- Following the completion of Mandala House, the £100,000 purpose-built residential facility in Kathmandu, we will continue working closely with the Disabled Welfare Association to expand its impact. Our goal is to develop Mandala House into a broader community resource, offering essential services and support to other disabled individuals in the Gokarna area. By fostering inclusivity and empowerment, we aim to enhance the quality of life for people with disabilities in Nepal.
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
8.2 Fundraising Activities
Charity Art Auction (June 2025)
- Planning is well underway for our upcoming Art Exhibition Fundraiser in Leamington Spa, which aims to feature contributions from both global and local artists. Key partnerships are being established to ensure a diverse and high-quality collection of artworks. The event is expected to be a significant fundraiser and an opportunity to strengthen relationships with existing and new supporters.
Everest Base Camp Trek (September 2025)
- In September 2025, we will lead a fundraising trek to Everest Base Camp, providing supporters with an incredible opportunity to experience the majesty of the Himalayas while raising vital funds for our ongoing projects in Nepal. This challenging yet rewarding adventure will help generate awareness and support for our work.
Spirit of Nepal Tour (April 2026)
- In April 2026, we will launch a unique Spirit of Nepal Tour, offering eight nights of cultural discovery and relaxation in two stunning locations: the vibrant city of Kathmandu and the serene hilltop town of Bandipur, a living museum of Newari culture. Participants will stay in superior hotels, explore ancient temples and UNESCO World Heritage sites, and enjoy mindfulness and yoga workshops. As a non-trekking experience, this tour provides the perfect blend of culture, wellness, and scenic beauty, all while raising funds to support our projects.
8.3 Environmental, Social, and Governance (ESG) Developments
- As part of our ongoing commitment to responsible and sustainable practice, New Futures Nepal is increasing its focus on Environmental, Social, and Governance (ESG) priorities. During 2025/26, we intend to publish our first formal ESG Report, building on the draft developed in the previous year. From 1 April 2025, we will begin recording trustee volunteer hours to better reflect the time and dedication contributed to the charity. We also plan to engage with our partner NGOs in Nepal to explore practical steps for improving the ESG footprint of the projects we support. These are modest but important developments, designed to help us grow our impact responsibly and transparently without overextending our resources.
9. Acknowledgments
New Futures Nepal extends its gratitude to all supporters, stakeholders, and trustees whose dedication and contributions continue to drive impactful change across communities. As we look ahead, we invite continued collaboration and support to empower individuals and foster sustainable development.
We especially want to extend our heartfelt gratitude to the amazing professionals and small businesses who generously dedicate their time and expertise year after year. Special thanks to Susan Ellam, our exceptional and dedicated accountant, who is truly indispensable to the Charity's operations.
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NEW FUTURES NEPAL LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025
All of this support from the incredible professionals mentioned above, as well as the kindhearted donors, sponsors, friends, and family, has truly made 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 empowering underprivileged children and adults in Nepal. It is thanks to each and every one of you - we simply couldn't do it without your support.
10. 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: 8[th] November 2025
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NEW FUTURES NEPAL LIMITED
INDEPENDENT EXAMINER’S REPORT
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages 10 to 17.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors 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’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Signed: Alan Terhoven FCA CA(SA)
Date: 8[th] November 2025
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NEW FUTURES NEPAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Notes Income and endowments from: Donations and legacies Other trading activities Investments Total Expenditure On: Raising funds 2 Charitable activities 3 Total Net income/(expenditure) and net movement in funds for the year Reconciliation of funds: Total funds brought forward Transfer of funds Total funds carried forward 7 |
Unrestricted Fund £ 50,320 13,286 2,785 66,391 19,744 63,061 82,805 (16,414) 103,298 (27,194) 59,690 |
Restricted Fund £ 55,313 55,313 82,507 82,507 (27,194) - 27,194 - |
Total 2025 £ 105,633 13,286 2,785 121,704 19,744 145,568 165,312 (43,608) 103,298 - 59,690 |
Total 2024 £ 109,965 15,661 1,921 |
|---|---|---|---|---|
| 127,547 | ||||
| 23,980 152,013 |
||||
| 175,993 | ||||
| (48,446) 151,744 |
||||
| 103,298 |
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NEW FUTURES NEPAL LIMITED
BALANCE SHEET AT 31 MARCH 2025
| Notes Current Assets Debtors 5 Cash at bank and on deposit Creditors Amounts falling due within one year 6 Total assets less current liabilities Represented by: Unrestricted funds: 7(i) - Designated - General Restricted funds 7(ii) |
2025 £ 7,121 115,889 123,010 63,320 59,690 59,690 0 0 59,690 |
2024 £ 7,854 116,365 |
|---|---|---|
| 124,219 | ||
| 20,921 | ||
| 103,298 | ||
| 103,298 0 0 |
||
| 103,298 |
For the financial year ended 31 March 2025 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
Director: Mr Andrew Small
Company Registration No: 07492988
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
1. Accounting policies
1.1. Charity Information
New Futures Nepal Limited is a private company limited by guarantee incorporated in England and Wales whose company number is: 07492988. The registered office is 18 Eastfield Road, Leamington Spa, CV32 4EX.
New Futures Nepal Limited aims to help empower disadvantaged children and adults in Nepal.
1.2. Basis of preparation of accounts
The charity is a public benefit entity, and 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 2019). The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.3. 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.
1.4. 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.
1.5. Grants payable
Grants are accounted for when approved by the Directors.
1.6. 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.
1.7. 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.
1.8. 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.
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
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.
1.9. Critical Accounting Estimates and Judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
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.
| 2. Raising Funds Fundraising event costs Communication and website Subscriptions Governance costs Travel and subsistence Printing, postage and stationery 3. Charitable activities The Hope Centre and Hornbeam House Projects in Nepal Support costs |
2025 £ 14,035 245 2,819 1,012 1,151 482 19,744 2025 £ 38,451 7,830 16,780 63,061 |
2024 £ 8,615 0 3,081 1,249 1,510 9,525 |
|---|---|---|
| 23,980 | ||
| 2024 £ 39,820 14,566 26,512 |
||
| 80,898 |
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
| Restricted The Hope Centre and Hornbeam House - Sponsor A Child Tracksuits Wheelchairs New Annexe – Mandala House |
17,507 2,354 4,582 58,064 145,568 |
28,687 0 0 42,428 |
|---|---|---|
| 152,013 |
Support Costs
| Support | Governance | 2025 | Support | Governance | 2024 | |
|---|---|---|---|---|---|---|
| Costs | Costs | Costs | Costs | |||
| £ | £ | £ | £ | £ | £ | |
| Insurance | 434 | 122 | 556 | 452 | 128 | 580 |
| Bank charges | 468 | 133 | 601 | 390 | 110 | 500 |
| Accountancy | 2,390 | 674 | 3,064 | 3,541 | 999 | 4,540 |
| Training | 292 | 83 | 375 | 0 | 0 | 0 |
| Consumables | 0 | 0 | 0 | 1,045 | 13 | 1,058 |
| Provident fund - Tilak Shrestha | 2,159 | 0 | 2,159 | 2,035 | 0 | 2,035 |
| Contribution towards salaries | 6,899 | 0 | 6,899 | 6,354 | 0 | 6,354 |
| Regional manager | 2,602 | 0 | 2,602 | 2,634 | 0 | 2,634 |
| Overseas travel | 1,536 | 0 | 1,536 | 10,061 | 0 | 10,061 |
| 16,780 | 1,012 | 17,792 | 26,512 | 1,250 | 27,762 | |
| Analysed between: | £ | £ | £ | £ | £ | £ |
| Raising funds | 1,012 | 1,012 | 1,250 | 1,250 | ||
| Charitable activities | 16,780 | 16,780 | 26,512 | 26,512 | ||
| 16,780 | 1,012 | 17,792 | 26,512 | 1,249 | 27,762 |
Accountancy costs include £2,190 (2024 £1,620), which are payable to the independent examiners in relation to prior periods. ~~.~~
4. Directors and employees
No remuneration was paid to the directors or their connected persons in the year. Expenses reimbursed to directors in respect of travel, postage, stationery and promotional material amounted to £204 (2024 - £156).
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
There were no persons employed by the charity during the year.
| 5. Debtors Gift aid Prepayments and accrued income 6. Creditors Other creditors Deferred income Accruals |
2025 £ 4,478 2,643 7,121 2025 £ 6,319 48,656 8,345 63,320 |
2024 £ 4,306 3,548 |
|---|---|---|
| 7,854 | ||
| 2024 £ 4,160 13,681 3,080 |
||
| 20,921 |
Deferred income consists of fundraising monies received from participants for events scheduled to occur after the year-end. These funds are recognized as income in the reporting period when the corresponding fundraising event successfully takes place. Monies amounting to £44,944 relate to the fundraising trek to Everest Base Camp, which is scheduled for September 2025.
| 7 (i) Unrestricted funds General fund At 1 April 2024 Net Income / (Expenditure) in the year Transfer At 31 March 2025 Designated funds At 1 April 2024 Net Income / (Expenditure) in the year At 31 March 2025 |
£ 103,298 (43,608) - |
|---|---|
| 59,690 | |
| £ 103,298 (43,608) |
|
| 59,690 |
The planned use of Designated funds is set out under the Reserves policy in the Directors’ Report.
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
7 (ii) Restricted funds
| Restricted funds Wheelchairs Hope Centre - Annexe Tracksuits The Hope Centre and Hornbeam House - Sponsor a Child |
At 01.04.24 Net Movement in Funds Transfer From Unrestricted Funds Transfer Between Restricted Funds At 31.03.25 £ £ £ £ £ - 1,237 (1,237) - - - (28,431) 28,431 - - - - - - - - - - - - |
|---|---|
| - (27,194) 27,194 - - |
Net movement in funds included above is made up as follows:
| Restricted funds Wheelchairs Hope Centre - Annexe Tracksuits The Hope Centre and Hornbeam House - Sponsor a Child |
Incoming Resources Resources Expended Movement in Funds £ £ £ 5,819 (4,582) 1,237 29,633 (58,064) (28,431) 2,354 (2,354) - 17,507 (17,507) - |
|---|---|
| 55,313 (82,507) (27,194) |
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NEW FUTURES NEPAL LIMITED
NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
8. Related Party Transactions
There are no Related Party Transactions that require disclosure.
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