## The Dust Project ## **ANNUAL REVIEW 2022** Charity Registration No. 1155728 THE DUST PROJECT - ANNUAL REVIEW 2022 1 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 THE DUST PROJECT (Company Limited by Guarantee) REGISTERED COMPANY NO. 08822786 CHARITY REGISTRATION NO. 1155728 Independent Examiners Ltd Unlt 2,The Broadfields Business Centre Delling Lane Bosham P018 8NF THE DUST PROJECT {A COMPANY LIMITED BY GUARANTEE) CONTENTS Page 3 Legal & Administrative Information Pages 4 to 8 Report of the Directors. Page 9 Independent Examiner's Report Page 10 Statement of Financial Activities Page 11 8alance Sheet Pages 12 to 16 Notes to the Financial Statements THE DUST PROJECT (A COMPANY UMITED BY GUARANTEE) REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST DECEMBER 2022 LEGAL AND ADMINISTRATIVE INFORMATION CHARITY NUMBER 1155728 COMPANY REGISTRATION NUMBER 08822786 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 31st December 2022 DIRECTORS AT 31ST DECEMBER 2022 Fraser Higgs Roy Chisnall Sarah Chisnall Thomas Stokely Sarah Higgs REGISTERED ADDRESS Lark Rise Sandy Down Boldre Lymington Hampshire S041 8PL DATE OF INCORPORATION 20th December 2013 GOVERNING DOCUMENT Memorandum and Articles of Associatlon Incorporated on 20th December 2013. BANKERS HSBC 78 Water Gardens South Gate HARLOW Essex ENII 8EP ACCOUNTANTS & INDEPENDENT EXAMINER Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex P018 8NF ## **Annual Review** The Dust Project was established as a company limited by guarantee on 20th December 2013. Ultimate responsibility for the entity rests with the Trustees. Day-to-day management is undertaken by Sarah Chisnall and Tiffany Stokely, Trustees of the charity. ## TRUSTEES The Board of Trustees meets a minimum of four times per year, with further ad-hoc meetings as required. ## OBJECTIVES Our vision is to help, support, and relieve those in desperate situations of poverty, crisis or hardship, in developing countries and communities suffering the after-effects of war, natural disaster and/or economic frailty. We focus especially on the stability of family units and the safety, nourishment and education of children and vulnerable young adults by providing shelter, food, healthcare, schooling, tuition, and other such charitable services as the trustees may from time to time think fit, as need demands. We are currently focusing on communities in Colombo and Jaffna, Sri Lanka, through the physical construction and refurbishment of a children’s hostel, schools, and family homes, in addition to the support of community businesses, projects and sponsored children. ## **ACCOMPLISHMENTS IN 2022** ## Website and Social Media We are very prominent on social media (especially Facebook), with over 600 supporters. Our videos have had approximately 12,000 views. We are also on Instagram, Twitter and THE DUST PROJECT - ANNUAL REVIEW 2022 4 Linkedin, and have found a wider reach of international support and sponsorship through these. Our website continues to be successful both in gaining new followers as well as directly enabling more children to be sponsored. The Child Sponsorship page allows potential sponsors to read the bios of children living in need in our focal communities in Sri Lanka — who either attend a Paalam International School in Colombo or Jaffna, live in the Paalam Children’s Hostel in Jaffna, or are connected to a house build (or other project) which we have financed. Sponsors are given information about why the child needs support, along with details of his or her family and situation. We have found sponsorship to make a significant and lasting impact in a child’s life, having seen and heard firsthand from carers and the children themselves the difference it makes. The children’s basic needs of clothing, medical attention, primary education and nourishment are met, and they feel genuinely supported, encouraged and cared for. This can only make a positive impact on their futures. The ‘Donate to a Build’ page speaks of those families in our communities who are currently living in completely sub-standard housing, or are currently or soon to be homeless. They are usually in serious need of a home, a well and a toilet. ## Partnering with Paalam Things are going well in our partnership with Paalam— a charity based in Sri Lanka. The charity has made a huge impact in Colombo, but even more significantly in Jaffna. Through our collaboration, they have been able to receive donations through The Dust Project’s website and co-ordinate, distribute and oversee the child sponsorship program. We have had over 180 children sponsored through this program. Since our partnership, we have been able to build or help complete 23 houses for various families living in appalling conditions. We also continue to build wells (14 to date!) and toilets (26 to date!) as need demands. We are in the process of building a school in Jaffna, sponsored in part by Hiscox, London. Due to Covid as well as the conflict in Sri Lanka, this has taken a lot longer than expected; but we hope to have it completed by April 2023. ## Fundraising We had another quiet year in 2022 on the fundraising side, as we were unable to hold events due to Covid restrictions. However, this did not stop our amazing, generous supporters from donating to various needs through The Dust Project. THE DUST PROJECT - ANNUAL REVIEW 2022 5 - Our child sponsors continued their support throughout the year, which was very - much needed in Sri Lanka due to the Government fall and conflict that followed. Food prices went up dramatically and there was no fuel. This meant families were unable to work and earn money to pay for food. We were able to send funds to pay for food, schooling and medicine. - In January, we sent funds to pay for Sutharshini, a student looking to pursue higher - studies in the medical field. We also, through our business fund, were able to purchase a Trishaw for Ramesh. - In March, we sent funds to build a house for Patricia as well as update stonework in - our church/community centre. - In April we sent funds to paint and repair parts of the school in Wattala as well as a - kitchen upgrade. We also sent funds to concrete the front of our community centre/ church. - In June, we sent funds to build a home for Sivakumari. - In August, we sent funds to build a home for Kaliachelvam. - In September, through our business fund, we were able to help Kiri start up a brick - making business. We also sent funds to build Mary a well. With our connection to a project in Kandy, we were able to send funds to buy food and build a much-needed toilet. • In November, through our business fund, we were able to help Janitha set up a small business selling electrical products. In the same month, we started an online food drive for malnourished pregnant women. Through Paalam, we were alerted of the fact that many pregnant women were incredibly malnourished due to the enormous price increase of food in Sri Lanka. We managed to raise over £5,198.00. • With our Gift Aid, we sent £1700 to update the Paalam Orphanage in Jaffna. Funds were sent to continue building work on the Wattala school and buy a drum kit for drum lessons ## Mission Sadly, due to conflict in Sri Lanka, we were unable to visit for safety reasons. We are still very keen to take out teams to help build houses for those families in desperate need of a safe and secure home. We are looking to send a team out in September 2023. THE DUST PROJECT - ANNUAL REVIEW 2022 6 ## Finance As a charity, we continued to support Paalam International School, New Living Flame Church and the Paalam Project. All three organisations are under the Paalam Charity, and in total we donated over £144,000. We had something unexpected and unprecedented happen in November when - suddenly and without warning or reason - our HSBC account was closed. Through no amount of calls, enquiries or chats were we provided with any further explanation or apology, and it remained closed as The Dust Project sought for a new bank to host our child sponsorship payments and the daily needs of the charity. ## The Future In 2023, we hope to complete the school build in Jaffna with a view to an official opening in the Autumn. We also hope to continue to provide funds for our sponsored children, raise funds to provide new homes for families in desperate need and hopefully take a volunteer team out to Sri Lanka, in September 2023, to see the amazing work we have done, as well as build and paint houses that have been funded by our generous donors. THE DUST PROJECT - ANNUAL REVIEW 2022 7 THE Dusf PROJEcr (A COMPANY LIMITED BY GUARA￿rEE) REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022 The Dirertots tske pleasure in submltting thdr ￿pOrt and flnandal statements for the year ended 31st December 2022. A more detailed report can be accessed from web 51te Tho Charltable Objects The Charity's Objerts are for wbllc benefit and a￿ restrlrted to the followlng.. The rellef of poverty and hardshlp among chlldren and young pb)ple Ilvlng In developlng communltles In such parts of the World by the provision of shelter, food, health, education and other such charltable Servi￿ as the trustees may froffl time to time think flt In particular through the construthon and refurbishment of orphanages, sthools and accommodatlon. Statemert of Dlrector'• rewnslblllUe•: Company law requlres the dlrectors to prepare finandal ststwnents for eath finanaal year which gives a true and Pdlr vlew of the state of affalrs of the company and of the profit or loss of the company durlng that perlod. In preparfThJ thse financial statrnts the dlrectors are requlrejj to: (l) select sultable accwnting polldes and then apply them conslstentjyi (11) rnake jUdgemL￿ts and estimates that are reasonable and prudent, (Ill) prepare financlal statements on a golng concffn basls unless It Is Inapproprtate to presume that the cornpany will contlnue In buslness. The dlrectors are responsible for keeping proper accountlng records whlch dlsclose with reasonable accuracy at any tlme the flnanclal po￿tIOn of the company and to ￿able them to ensure that the financlal ststements comply with the Companles Art 2(M16. are also responsible for safeguarding the assets of the company and h￿ce for tsklng reasonable steps for the pr￿en￿on and detertlon of fraud and other Irwularftles. In preparlng thls report the dlrertors have tsken advantage of special provisions of the Companies Art 2006 relatlng to small companies. I approve the attached statement of finandal actlvltles and balance sheet for the period ended 31st December 2022, and conflmi that I have made avallable all Infonnatlon necessary for Its preparation. signed on behalf of the 8oard ty . , Sarah Chlsnall, Dlre(XorlCompany INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS I report to the charity trustees on my examination of the accounts of The Dust Project for the year ended 31 December 2022. RESPONSIBILrriES AND BASIS OF REPORT As the charity's Trustees of the Company (who a￿ also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Art 20061-the 2006 Act-l. Having satisfied myself that the accounts of the Company a￿ not required to be audited for this year under Part 16 of the 2006 Act and a￿ eligible for independent examination, I report in respert of my examination of your charity's accounts as carried out under sertion 145 of the Charities Art 2011 1"the 2011 Act"). In carrying out my examination, I have followed the Dirertions glven by the Charfty Commission {under sertion 14515llb) of the 2011 Art. INDEPENDENT EXAMINER'S STATEMENT I have completed my examlnation. I conflm) that no materfjal matters have come to my attentlon whlch glves me cause to belleve that.. accountSng records were not kept In accordance wlth sectlon 386 of the CompanSes Act 2006,. or the accounts do not accord wSth such records: or the accounts do not comply with relevant accounting reqU1￿ments under sectlon 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 in¢Jependent examination,. or the accounts have not been prepared in accordance with the Charities SORP IFRS1021. 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 Date 20.9.23 Kim Gomes MAAT FCIE Independent Examiners Ltd Unit 2 The Bmadbridge Business Centre Delling Lane Bosham P018 8NF THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022 Incorporating income and expenditure account Unrestrirted Restricted Funds Fund5 TOTAL 2022 TOTAL 2021 Notes INCOME AND ENDOWMENTS FROM: Donations and Legacies 3a 85,130 17,216 102,346 110,389 Trading Activities 3b Other Lncome 1,000 1,000 1,441 TOTAL INCOMING RESOURCES 17216 103346 111830 EXPENDITURE ON: Raising Funds 4a Charltable Activities 4b 142,815 142,815 113,350 TOTAL RESOURCES EXPENDED 142,815 0 142,815 113 350 NET INCOMING/ (OUTGOING) RESOURCES -56,685 17,216 -39,469 -1,519 Balances Brought Forward 99,733 -7,488 92,245 93,764 TOTAL FUNDS CARRIED FORWARD ,77 45 Movements on all reserves and all recognised gains and losses are shown above. All of the organlsatlon's operatlons are classed as continuing. The notes on pages 12 to 16 fomi part of these financial statements. THE Dusf PROJEcr (A COMPANY LIMrrED BY GUARATr￿EE) BALANCE SHEEr AS AT 31ST DECEMBER 2022 Vnrestricte( Restrlcted Funds Funds 2022 Total 2021 Totsl Debtors Cash at bank and In hand 53,538 53,538 93.337 Total Curr•nt AM•ts 3.538 Cr•dltor&' amounts falllng due wlthln 01￿ year 762 762 1,092 NET CUARENT ASSETS 52,776 52.776 92,245 TOTAL ASSETS less current Ilabllbtles 52,776 .776 ,245 Fund• ol the Ch•rlty General Funds Re5trfcted Funds 43.048 43,048 9,728 99,733 9.728 Tot•1 Fund• 43,048 9,728 52,776 92.145 For the per4od ended 31st Decembtr 2022the company was entitled to exemptlon from audlt under secdon 477(21 of the Companles Art 2006 ￿4￿n9 to Sm￿1 companles. Dlr•ctor•' M•pM•lbllltl••: The members have not reouired the chartty to obtsln an audlt of Its accounts for the year In qUes￿on In accordance wlth sectlon 476; and • The dlrethrs acknO￿edge thelr responsibllives frjr complwng the requir•M￿ts of the Act wlth respect to accountlng records the prepar*lon of accounts. These fin•n¢al statsments ha¥e been prepared in accordarKe wlth the speclal provlsion5 relating to c(trmpanles subjett to the sm411 companies reglme wlthin Part 15 of the Companies Act 2006. The fin￿1￿1 statements on pages 10 to 16 were approved by the trustets, and auihorlsed for issue on and slgned on thelr bthalf by". Sl9ned on behalf of the Board by .. Secreiary . Sarah Chlsnall, Dlrettorlcompany THE DUST PROJECT (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 I. ACCOUNTING POLICIES Incorning Resources Recognition of Incoming Resour￿5 These are included in the Statement of Financial Artivities {SOFA) when.. the charity becomes entitled to the resources- the Director5 are virtually certain they will receive the resource5- and the rnonetary value can be measured with sufficient reliability Incomirjg Resources Wlth related expenditure Where incoming resources have related expenditure (a5 Wlth fundraisin9 or contract income) the incoming ￿SOurce and related expenditure are reported gros5 in the SOFA. Grants and Donations Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclaims on Donations and Gifts Incorning resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Contractual Income and Performance Related Grants This is only included in the SOFA once the related goods or services has been delivered. Gifts in Kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity a￿ included in the SOFA as incoming resources when receivable. Donated Services and Facilities These are only included in incoming resources (with an equivalent amount In resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. Volunteer Help The value of any voluntary help re￿iVed Is not Included in the accounts but Is descrlbed In the Directors, annual report. Investment Income This Is included In the accounts when recelvable. Investment gains and losses This Sncluded any gain or loss on the sale of Investments and any galn or loss resulting from revalulng investments to market value at the end of the year. Expendlture and Ilabllltles Liability ￿cognitIon abilities a￿ ￿cogniSed as soon as the￿ is a legal or construttive obligation commlttlng the charity to pay out ￿sOurces. Governance Costs Include costs of the preparation and examination of statutory accounts, the costs of the Directors, meetings and cost of any legal advice to Directors on govemance or constitutional matters. THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 Grants with performance conditions Where the charity gives a grant with corhditions for its payment being a Specific level of Service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. Grants payable without perforrnarpce conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. Support Costs Support Costs include central functions and have been allocated to activity cost categorie5 on a basis con515tent with the use of the resources, e.g. allocating property cots by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Assets Tangible fixed assets for use by the charity: These are capitalised if they can be used for more than one year, and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. The Charity at present hold5 no assets which cost above this figure. No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost. Investments Investments quoted on a recognised stock exchange a￿ valued at market value at the year end. Other investment assets are included at Directors. best estimate of market value. 8asls of p￿paratIOn.. The f1nancial statements are prepared on the hlstorlcal cost basis convention (as modlfled to Include the revaluation of investments) in accordance with the Charities Act 2011, "Accounting and Reporting by Charities" ISORP 20151, applicable accounting standards and the Companies Act 2006. The accounts have been prepared on a going concem basis. The charlty meets the definition of a public benefit entity under FRS 102. The Charlty has claimed exemptions available in Section la of FRS 102 not to prepare a cash flow statement slnce It Is a small charity. 2. TANGIBLE FIXED ASs￿s The Company owns no fixed assets There are no obligatlons under hire purchase contracts or leases. THE DUST PROIECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 INCOME FROM DONATIONS & Notes Unrestrirted Restricted ENDOWMENTS Funds Funds TOTAL 2022 TOTAL 2021 a) Donatlons and Lega¢les Donations Virgin Giving Home Building Project Child Sponsorship Tax Kecoverable 44,008 44,008 49,323 13,085 11,511 24,637 11,633 17,216 17,216 21,200 19,922 21,200 19,922 b) Tradlng Actlvltleg Profit trom Fund Raising Events c) Other Income Stewardship 4. EXPENDITURE ON: •) Ralslng Funds Vlrgln Glving Fees b) Charltable Actlvltles Sponsorshlp Home buildlng Project Palaam Project Palaam School New Living Support for Chlld Sponsorship Computings Software, and Web Slte Gifts Bank Charges PrSntlng & Postage Shipping and Carriage Miscellaneous Accountancy Independent Examination Fees Other Governance Costs 19,000 77,688 99,978 6,130 25,092 7,900 220 99,978 6, 130 25,092 7,900 220 7,390 6,225 228 loo 528 56 473 428 375 586 586 1,155 431 475 1,155 431 475 840 840 810 49 142,815 142,815 113,350 THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 5. RESTRICTED FUNDS Balance Balance 01101122 Incoffle Expenditure Transfer5 31112122 Home Building Project 7,488 7,488 17,216 17,216 9,728 9,728 Balance Balance 01101121 Income Expenditure Transfer5 31112121 Prlor Year Home Building Project 11,512 19,000 7,488 6. CASH AT BANK AND IN HAND Funds Funds 2022 Total 2021 Total Current Account 53,538 53,538 93,337 53,53 53,5 3,337 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Unrestricted Restricted Funds Funds 2022 Total 2021 Total Credit Card Independent Examlnatlon Fees 78 840 78 840 282 810 762 762 8. DEBTORS AND PREPAYMENTS un￿strO￿ed Restricted Funds Funds 2022 Total 2021 Total Debtors THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 9. STAFF COSTS, DIRECTORS AND OTHER RELATED PARTIES No payments were made to dirertors or any persons connected with them during this financial period, other than reimbursements. No material transartion took place between the organisation 10. IUSK ASSESSMENT The director5 actively review the Major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and busines5 risks which they face and confirm that they have established systems to mitigate the significant risks. 11. RESERVES POLICY The directors have considered the level of reserves they wish to retain, appropriate to the charity. needs. This is based on the charity's size and the level of financial commitments held. The dirertors aim to ensure the charity will be able to continue to fulfil its charitable objertives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily. 12. PUBLIC BENEFIT The charity acknowledges its requirement to demonstrate cleatly that it must have charitable purposes or 'aims' that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. 13. SHARE CAPITAL The Charitable Company Is Ilmited by guarantee wlth each of its members Ilable to contrlbute one pound sterling In the event of it being wound up.