# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **THE DUST PROJECT**
(Company Limited by Guarantee)
**REGISTERED COMPANY NO. 08822786**
**CHARITY REGISTRATION NO. 1155728**
Independent Examiners Ltd Unit 2,The Broadfields Business Centre Delling Lane Bosham PO18 8NF
1
## **THE DUST PROJECT**
||**THE DUST PROJECT**|
|---|---|
||(A COMPANY LIMITED BY GUARANTEE)|
||**CONTENTS**|
|Page 3|Legal & Administrative Information|
|Pages 4 to 9|Report of the Directors'|
|Page 10|Independent Examiner's Report|
|Page 11|Statement of Financial Activities|
|Page 12|Balance Sheet|
|Pages 13 to 17|Notes to the Financial Statements|
2
## **THE DUST PROJECT**
(A COMPANY LIMITED BY GUARANTEE)
## **REPORT OF THE DIRECTORS**
# **FOR THE YEAR ENDED 31ST DECEMBER 2023 LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1155728
**COMPANY REGISTRATION NUMBER** 08822786
**START OF FINANCIAL YEAR** 1st January 2023
**END OF FINANCIAL YEAR** 31st December 2023 **DIRECTORS AT 31ST DECEMBER 2023** Fraser Higgs Roy Chisnall Sarah Chisnall Thomas Stokely Sarah Higgs **REGISTERED ADDRESS** Lark Rise Sandy Down Boldre Lymington Hampshire SO41 8PL **DATE OF INCORPORATION** 20th December 2013
**GOVERNING DOCUMENT** Memorandum and Articles of Association incorporated on 20th December 2013.
**BANKERS** HSBC 7B Water Gardens South Gate HARLOW Essex EN11 8EP
**ACCOUNTANTS &** Independent Examiners Ltd **INDEPENDENT EXAMINER** 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
3
## The Dust Project **ANNUAL REVIEW 2023**
Charity Registration No. 1155728
THE DUST PROJECT - ANNUAL REVIEW 2023
4
## **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 2023**
## Website and Social Media
We are very prominent on social media (especially Facebook), with over 600 supporters. Our videos have had approximately 15,000 views. We are also on Instagram, Twitter and
THE DUST PROJECT - ANNUAL REVIEW 2023
5
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, are connected to a house build (or other project) which we have financed, or are part of our larger community outreach programs such as food parcels. 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 first hand 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/or 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 25 houses for various families living in appalling conditions. We also continue to build wells (16 to date) and toilets (28 to date) as need demands. Our new Paalam School in Jaffna, sponsored in part by Hiscox, London, was formally opened in September of 2023.
## Fundraising
As always, we cannot thank our supporters enough for their generosity. Not only were we able to complete the school in Jaffna, but we were also able to raise funds for stationery packs for children in the Gampaha district. Before the new school term began in April ’23, the students were issued a book list full of items costing more than 5,000 rupees (£15).
THE DUST PROJECT - ANNUAL REVIEW 2023
6
For many families, this cost is completely unaffordable. The funds we raised online went to cover the cost of their necessary school supplies.
We were able to continue our house builds as well as support over 180 children through school and food parcels.
We were also able to support teachers who were struggling to get to school because of fuel price increases and general inflation in Sri Lanka.
- In January, we were able to kit out the new school in Jaffna with furniture.
- In March, we held our School Stationery Drive, raising nearly £5,000.
- In April we sent the last of the funds for our school build, making it possible to get
- the important things like windows/doors/painting/library/computer room, etc.
- In May, we began the build of Mary Georgini’s home. She had lived in the
- children’s home.
- In July we were able to pay for the landscaping around the school as well as start the
- build of Daniel and Madusha’s home.
- Through August and September, we received much needed funds to support our
- teachers’ salaries.
- In September we received funds for Tharani’s sewing machine.
- In December we received funds to continue the completion of the new school in
- Jaffna.
## Mission
In September, we were able send a team from Hiscox to help work on the completion of the school and be there for the Grand Opening. It was a long wait for them as Covid and various other issues stopped the team getting out there any sooner. With sweet satisfaction, we were finally able to celebrate and commemorate their collective hard work and fundraising efforts in this grand culmination of a finished school. We also relish seeing the children keenly appreciating their new classrooms, grounds and the possibilities of an education with improved facilities.
## Finance
As a charity, we continued to support Paalam International School, New Living Flame Church, Paalam Project and Paalam Children’s Home. All four organisations are under the Paalam Charity, and in total we donated over £112,000.
THE DUST PROJECT - ANNUAL REVIEW 2023
7
## The Future
In 2024, we look forward to continuing the landscaping around the new Jaffna school and are hoping to add a playground. We also have big plans to build a school in the Wattala, Colombo area of Sri Lanka. We will be looking for land close to the current school in Wattala, which is becoming too small to house our influx of children. We hope to eventually have a primary school building and a secondary school building. Our hope is to find a company or several who would like to partner with us in this new project.
THE DUST PROJECT - ANNUAL REVIEW 2023
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THE DUST PROJECT
(A COMPANY UMITED BY GUARANTEE)
REPORT OF THE DIREcfoRS (contlnued)
FOR THE YEAR ENDED 31ST DECEMBER 2023
The DIttor5 take pleasure In submlttlng thelr report and flnanclal statements for the year ended
31st December 2023. A more detalled report can be accessed from web slte Ib2 [1(%
Charltabl• ObJts
The Charity's Objects are for publlc benefit and are restrlrted to the followlng: The rellef of poverty
and hardshlp among chlldren and young people Ilvlng In developlng communltles In such parts of
the World by the provlslon of shelter, food, health, educatlon and other such charltsble servlces as
the trustees may from tlme to tlme thlnk flt In partlcular through the constructlon and
refurblshment of orphanages, schools and accommodatlon.
Stat•m•nt of Dlr•rtoV• rnJpon•lbllltl••:
Company law requlres the dlrectors to prepare flnanclal ststements for each financlal year whl¢h
glves a true and falr vlew of the stste of affalrs of the company and of the proflt or loss of the
company durtng that perlod. In preparlng those flnanclal statements the dlrertors are requlred to:
(l) selett sultable accounung pollcles and then apply them conslstentlyi
(11) make Judgements and estlmates that are reasonable and prudenL
(111) prepare flnanclèl statements on a golng concern basls unless It Is Inapproprlate to presume
that the company wlll contlnue In buslness.
The dlrertors are responslble for keeplng proper accountlng records whlch dlsclose wlth reasonable
accuracy at any tlme the financlal posltlon of the company and to enable them to ensure that the
flnantlal statements comply wlth the Companles Act 2006. They are also responslble for
safeguardlng the assets of the company and hence for taklng aSOnable steps for the preventlon
and detettion of fraud and other Irregularltles. In preparfng thls report the dlrettors have taken
advantsge of speclal provlslons of the Companles Art 2006 relatlng to small companles.
l approve the attached statement of flnanclal actlvltles and balance sheet for the perlod ended 31st
December 2023. and conflrni that I have made avallable all Informatlon necessary for Its
preparatlon.
Slgned on behalf of the Board by
Secretary
Sarah Chlsnall, Dlrectorlcompany
## **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 2023.
## **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”).
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.
## **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:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 :23.9.24
K Gomes FCIE MAAT Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
10
## **THE DUST PROJECT**
## (A COMPANY LIMITED BY GUARANTEE)
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
Incorporating income and expenditure account
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and Legacies
3a
Trading Activities
3b
Other Income
3c
**TOTAL INCOMING RESOURCES**
**EXPENDITURE ON:**
Charitable Activities
4a
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/ (OUTGOING) RESOURCES**
Balances Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
**2023**
**2022**
£
£
£
£
97,158
22,435
119,593
102,346
-
-
-
-
1,710
-
1,710
1,000|
|---|---|
||**98,868**
**22,435**
**121,303**
**103,346**|
||125,458
24,435
149,893
142,815|
||**125,458**
**24,435**
**149,893**
**142,815**|
||**-26,590**
**-2,000**
**-28,590**
**-39,469**
43,048
9,728
52,776
92,245|
||**16,458**
**7,728**
**24,186**
**52,776**|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 13 to 17 form part of these financial statements.
11
THE DUST PROJECT
(A COMPANY UMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31ST DECEMBER 2023
Unrestrlcted Restrlcted 2023
Funds
Funds
Totsl
2022
Total
Note
Flxed Assets
Current Assats
Debto
Cash at bank and In hand
17,358
7,728
25,086 53,538
Total Curr•nt A8s¢ts
7,35
25 086 53 538
CrltOrs.
amounts falllng due wlthln one ye
900
900
762
NET CURRENT ASSErs
16,458
7,728
24,186 52,776
TOTAL ASSEfs less current Ilabllltles
6,45
7,728
24,186 52.776
NEf ASSErs
Fund• of th• Charlty
General Funds
Restrlcted Funds
16,458
16,458
7,728
43,048
9,728
7,728
Totsl Fund•
16.458
7,728 24,186 52.776
For the perfod ended 31st December 2023 the company wa$ entitled to exemptlon from audlt
under sectyon 477(2) of the Companles Act 2006 relatlng to small companles.
Dlrector•' r••pon•lbllltlMI
• The membets have not requlred the charlty to obtaln an audlt of Its accounts for the year In
que5tyon In accordance wlth se¢Uon 476; ènd
• The dlreciors acknowledge thelr responslbSlltles for complylng wlth the requlrements of the Art
wlth respett to accountlng records and the preparatlon of accounts.
These flnanclal ststements have been prepared In accordance wlth the speclal provlslons relayng to
¢ompanle5 subject to the small companles reglme wlthln Part 15 of the Companles Act 2006.
The flnanclal statements on pages 13 to 17 were approved by the trustees, and authorfsed for
Issue on /
Lty and slgned on thelr behalf bv:
Slgned on behalf of the Board by
Secretary
Sarah Chlsnall, Dlrectorlcompany
12
## **THE DUST PROJECT**
(A COMPANY LIMITED BY GUARANTEE)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Incoming Resources**
## _Recognition of Incoming Resources_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the Directors are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _Incoming Resources with related expenditure_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross 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_
Incoming 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 are 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 received is not included in the accounts but is described in the Directors' annual report.
## _Investment Income_
This is included in the accounts when receivable.
## _Investment gains and losses_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Expenditure and liabilities**
## _Liability recognition_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _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 governance or constitutional matters.
13
## **THE DUST PROJECT**
## (A COMPANY LIMITED BY GUARANTEE)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## _Grants with performance conditions_
Where the charity gives a grant with conditions 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 performance 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 categories on a basis consistent 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 holds 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 are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value.
## _Basis of preparation:_
The financial statements are prepared on the historical cost basis convention (as modified to include the revaluation of investments) in accordance with the Charities Act 2011, "Accounting and Reporting by Charities" (SORP 2015), applicable accounting standards and the Companies Act 2006. The accounts have been prepared on a going concern basis. The charity meets the definition of a public benefit entity under FRS 102. The Charity has claimed exemptions available in Section 1a of FRS 102 not to prepare a cash flow statement since it is a small charity.
## **2. TANGIBLE FIXED ASSETS**
The Company owns no fixed assets
There are no obligations under hire purchase contracts or leases.
14
## **THE DUST PROJECT**
## (A COMPANY LIMITED BY GUARANTEE)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
|Notes
**a) Donations and Legacies**
Donations
Child Sponsorship
Tax Recoverable
**b) Trading Activities**
Profit from Fund Raising Events
**c) Other Income**
Stewardship
**4. EXPENDITURE ON:**
**a) Charitable Activities**
Sponsorship :
Home building Project
5
Palaam Project
Palaam School
5
New Living
Support for Child Sponsorship
Advertising
Computing, Software, and Web Site
Gifts, Donations
Bank Charges
Printing & Postage
Shipping and Carriage
Miscellaneous
Accountancy
Independent Examination Fees
Overseas Travel
**3. INCOME FROM DONATIONS &**
**ENDOWMENTS**|Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
53,374
22,435
75,809
61,224
23,526
-
23,526
21,200
20,258
-
20,258
19,922|
|---|---|
||**97,158**
**22,435**
**119,593**
**102,346**|
|||
||**-**
**-**
**-**
**-**|
|||
||**1,710**
**-**
**1,710**
**1,000**|
||-
18,000
18,000
-
20,760
-
20,760
99,978
46,007
6,435
52,442
6,130
4,704
-
4,704
25,092
26,466
-
26,466
7,900
412
-
412
-
303
-
303
220
17,091
-
17,091
-
495
-
495
586
54
-
54
7
160
-
160
1,155
608
-
608
431
438
-
438
475
900
-
900
840
7,060
-
7,060
-|
||**125,458**
**24,435**
**149,893**
**142,815**|
15
## **THE DUST PROJECT**
## (A COMPANY LIMITED BY GUARANTEE)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**5. RESTRICTED FUNDS**
Balance
Balance
01/01/23
Income
Expenditure Transfers
31/12/23
House Building Project
9,728
16,000
18,000
7,728
Paalam School
-
6,435
6,435
-
**9,728**
**22,435**
**24,435**
**-**
**7,728**
Balance
Balance
**Prior Year**
01/01/22
Income
Expenditure Transfers
31/12/22
House Building Project
7,488
-
17,216
-
-
9,728
**7,488**
**-**
**17,216**
**-**
**-**
**9,728**
**6. CASH AT BANK AND IN HAND**
Funds
Funds
**2023**
**2022**
**Total**
**Total**
£
£
**£**
**£**
Current Account
17,358
7,728
25,086
53,538
**17,358**
**7,728**
**25,086**
**53,538**
**7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Unrestricted Restricted
**2023**
**2022**
Funds
Funds
**Total**
**Total**
£
£
**£**
**£**
Credit Card
-
-
-78
Independent Examination Fees
900
-
900
840
**900**
**-**
**900**
**762**
**8. DEBTORS AND PREPAYMENTS**
Unrestricted Restricted
**2023**
**2022**
Funds
Funds
**Total**
**Total**
£
£
**£**
**£**
Debtors
-
-
-
-
**-**
**-**
**-**
**-**|Balance
01/01/23
9,728
-|Balance
Income
Expenditure Transfers
31/12/23
16,000
18,000
7,728
6,435
6,435
-|
|---|---|---|
||**9,728**|**22,435**
**24,435**
**-**
**7,728**|
||Balance
01/01/22
7,488
-|Balance
Income
Expenditure Transfers
31/12/22
17,216
-
-
9,728|
||**7,488**
**-**|**17,216**
**-**
**-**
**9,728**|
|||Funds
Funds
**2023**
**2022**
**Total**
**Total**
£
£
**£**
**£**
17,358
7,728
25,086
53,538|
|||**17,358**
**7,728**
**25,086**
**53,538**|
|||**900**
**-**
**900**
**762**|
|||Unrestricted Restricted
**2023**
**2022**
Funds
Funds
**Total**
**Total**
£
£
**£**
**£**
-
-
-
-|
|||**-**
**-**
**-**
**-**|
16
## **THE DUST PROJECT**
(A COMPANY LIMITED BY GUARANTEE)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **9. STAFF COSTS, DIRECTORS AND OTHER RELATED PARTIES**
No payments were made to directors or any persons connected with them during this financial period, other than reimbursements. No material transaction took place between the organisation and a director or any person connected with them.
## **10. RISK ASSESSMENT**
The directors 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 business 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's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives 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 clearly 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 limited by guarantee with each of its members liable to contribute one pound sterling in the event of it being wound up.
17