| For the year ended 31 | December 2020 | |
|---|---|---|
| Contents | Page number | |
| Organisation information |
2 —3 | |
| Chairman's report |
4 —5 | |
| Declaration —Serious Incidents | ||
| Executive Director's report |
7 —14 | |
| Independent auditors' report |
15 —17 | |
| Financial statements | ||
| Statement of financial |
activities | 18 —19 |
| Balance sheet | 20 | |
| Statement of cash flows |
21 —22 | |
| Notes to the financial | statements | 23 —29 |
| Board ofTrustees | Board ofTrustees | David Huw Appleton | ||||
|---|---|---|---|---|---|---|
| (Chairman) (from 14 February 2020) |
||||||
| Alain Xavier Cany | ||||||
| (Chairman) (until 13February 2020) |
||||||
| Paul Graham Cleves |
||||||
| Diana Simone Wells | ||||||
| Jonathon Ralph Alexander |
Waugh | |||||
| Nguyen Thi Thanh True |
||||||
| Paul Theodore McGee |
||||||
| Richard James Burrage | (from 15March 2020) | |||||
| Paul Adrian Smith (from |
15 March 2020) | |||||
| Seek Yee Chung (from 15 |
March 2020) | |||||
| Tieu Yen Trinh (from 15 |
March 2020) | |||||
| Executive Director | Damien Roberts |
|||||
| Senior Management | Team | |||||
| Head of Programmes | Nguyen Thi Duy Huong |
|||||
| Head of Fundraising | 8 | |||||
| Communications | Angelique Masse Nguyen |
|||||
| Head of Finance | 8 | Admin | Le Le An Na | |||
| CDSP Programme | Manager | Nguyen Sinh Quang Anh |
||||
| School Building | 8 | Learning | ||||
| Environment Programme |
||||||
| Manager | Nguyen Hoang Phuong |
|||||
| Getting Ready |
for | Work | ||||
| Programme Manager |
Phan Thanh Thuy Hang |
|||||
| Special Needs | Educational | |||||
| Senior Officer | Pham Thi Hanh Quyen |
|||||
| United Kingdom |
Charity | |||||
| Registration Number |
1157774 |
| 2020 | 2020 | 2020 | 2019 | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||
| Note | funds | funds | Total | Total | ||||
| USD | USD | USD | USD | |||||
| Income | ||||||||
| Donations | ||||||||
| ~ | School building | 169,699 | 169,699 | 489,810 | ||||
| ~ | Child Development | |||||||
| Scholarship | Program | 389,149 | 389,149 | 339,409 | ||||
| ~ | Getting Ready | for work | 196,587 | 196,587 | 175,776 | |||
| ~ | Special need | education | ||||||
| Program | 66,840 | 66,840 | 92, 'I 03 | |||||
| ~ | Covid Appeal | 348,297 | 348,297 | |||||
| ~ | General donations |
133,862 | 133,862 | 71,114 | ||||
| ~ | Bank interest | 12,834 | 12,834 | 6,561 | ||||
| ~ | Others | 898 | 898 | 1,636 | ||||
| Events and trading | activities | 3 | 295,889 | 295,889 | 375,362 | |||
| Exchange differences | 3,757 | 3,757 | (8,286) | |||||
| Total Income | 446,342 | 1,171,470 | 1,617,812 | 1,543,485 |
| 2020 | 2020 | 2020 | 2019 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| Note | funds | funds | Total | Total | ||
| USD | USD | USD | USD | |||
| Expenditure | ||||||
| Charitable activities: |
||||||
| ~ School building | 180,908 | 180,908 | 470,318 | |||
| ~ Child Development |
||||||
| Scholarship Program |
419,284 | 419,284 | 394,591 | |||
| ~ Getting Ready |
for work | 215,072 | 215,072 | 220,135 | ||
| ~ Special need education | ||||||
| Program | 70,932 | 70,932 | 131,823 | |||
| ~ Covid Appeal |
379,423 | 379,423 | ||||
| Cost ofgenerating | funds: | |||||
| ~ Fund raising |
111,990 | 116,853 | 228,843 | 279,086 | ||
| Governance | 5,463 | 14,460 | 19,923 | l9,934 | ||
| Total Expenditure | 117,453 | 1,396,932 | 1,514,385 | 1,515,887 | ||
| Net income/(expenditure) before transfers |
328,889 | (225,462) | 103,427 | 27,598 | ||
| Gross transfers between funds |
(225,462) | 225,462 | ||||
| Net income after | transfers | 103,427 | 103,427 | 27,598 |
| 31/12/2020 | 31/12/2019 | |||||
|---|---|---|---|---|---|---|
| USD | USD | |||||
| Current assets | ||||||
| Accounts | recervable | 9 | 440,175 | 419,701 | ||
| Cash | 10 | 575,566 | 597,085 | |||
| 1,015,741 | 1,016,786 | |||||
| Current liabilities |
||||||
| Accrued | expenses | 11 | (146,794) | (242,918) | ||
| Deferred | income | 12 | (597,586) | (605,934) | ||
| (744,380) | (848,852) | |||||
| Net assets | 271,361 | 167,934 | ||||
| Funds | ||||||
| Funds brought forward at the beginning of the year |
167,934 | 140,336 | ||||
| Net expenditure | for the year | 103,427 | 27,598 | |||
| Funds carried forward at the end ofthe year | 13 | 271,361 | 167,934 |
| Note | 2020 USD |
2019 USD |
||||
|---|---|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Income | ||||||
| School building | 173,545 | 359,515 | ||||
| Child Development Scholarship |
Program | 4f9,541 | 308,040 | |||
| Getting Ready for work | 197,804 | 206,304 | ||||
| Special need education | Program | 90,923 | 98,041 | |||
| Covid appeal | 417,753 | |||||
| Other activities | 564,204 | 570,003 | ||||
| 1,863,770 | 1,541,903 | |||||
| Expenditure | ||||||
| School building | 272,221 | 475,297 | ||||
| Child Development Scholarship |
Program | 431,203 | 393,936 | |||
| Getting Ready for work |
186,110 | 219,206 | ||||
| Special need education | Program | 77,555 | 132,431 | |||
| Covid appeal | 395,791 | |||||
| Other activities | 215,821 | 263,538 | ||||
| Operating expenses |
34,783 | 14,742 | ||||
| 1,613,484 | 1,499,150 | |||||
| Net cash flows from operating | activities | 250„286 | 42,753 | |||
| CASH FLOWS FROM INVESTING | ACTIVITIES | |||||
| Placements of term deposits |
(466,536) | (141,027) | ||||
| Receipts of term deposits | and interest | 190,974 | 11,119 | |||
| Net cash flows from investing | activities | (275,562) | (129,908) |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| USD | USD | ||||
| Net cash flows during the year | (25,276) | (87,155) | |||
| Cash at beginning | ofthe year | 597,085 | 692,526 | ||
| Effect of exchange | rate fluctuations | on cash | 3,757 | (8,286) | |
| Cash at end ofthe | year | 10 | 575,566 | 597,085 |
| 2020 | 2020 | 2020 | 2019 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | Total | Total | |||
| USD | USD | USD | USD | |||
| Summer | Ball events | 147,162 | 147,162 | 159,797 | ||
| Charity Cycle Adventure | 109,981 | 109,981 | 62,951 | |||
| H2H bike | ride | 15,552 | 15,552 | 21,151 | ||
| Cards, calendars | and T-shirts | 14,793 | 14,793 | 15,788 | ||
| Step challenge | 8,380 | 8,380 | 32,530 | |||
| Overseas | fund raising | 5,693 | ||||
| Passion week | 31,774 | |||||
| Wine dinner | 25,488 | |||||
| Christmas | event | 15,060 | ||||
| Others | 21 | 21 | 5,130 | |||
| 295,889 | 295,889 | 375,362 |
| Fund raising | |||||
|---|---|---|---|---|---|
| 2020 | 2020 | 2020 | 2019 | ||
| Unrestricted | Restricted | ||||
| funds | funds | Total | Total | ||
| USD | USD | USD | USD | ||
| Staff costs | 40,164 | 106,309 | 146,473 | 139,868 | |
| Support costs | 3,983 | 10,544 | 14,527 | 12,628 | |
| Summer Ball events |
23,828 | 23,828 | 50,716 | ||
| Charity Cycle Adventure | 35,206 | 35,206 | 17,967 | ||
| Cards, calendars | and T-shirts | 2,212 | 2,212 | 9,952 | |
| Step challenge | 4,196 | 4,196 | 24,477 | ||
| Overseas fund raising |
2,553 | ||||
| H2H bike ride | 84 | ||||
| Photo books/merchandising | 82 | ||||
| Others | 2,390 | 2,390 | 20,759 | ||
| 111,990 | 116,853 | 228,843 | 279,086 | ||
| Governance | |||||
| 2020 | 2020 | 2020 | 2019 | ||
| Unrestricted | Restricted | ||||
| funds | funds | Total | Total | ||
| USD | USD | USD | USD | ||
| Staff costs | 3,477 | 9,205 | 12,682 | 12,472 | |
| Rent and utilities | 867 | 2,296 | 3,163 | 3,407 | |
| Office expenses | 443 | 1,174 | 1,617 | 2,025 | |
| Travelling expenses |
23 | 60 | 83 | 256 | |
| Bank charges | 350 | 927 | 1,277 | 816 | |
| Others | 303 | 798 | 1,101 | 958 | |
| 5,463 | 14,460 | 19,923 | 19,934 |
| Cost of | Basis of | Basis of | ||||||
|---|---|---|---|---|---|---|---|---|
| Cost | type | Charitable activities |
generating funds |
Governance | Total | apportion -ment |
||
| USD | USD | USD | USD | |||||
| 2020 | ||||||||
| Staff | costs | 159,611 | 47,588 | 9,518 | 216,717 | (*) | ||
| Rent | and | utilities | 14,811 | 6,348 | 3,163 | 24,322 | (**) | |
| Office expenses | 7,571 | 3,245 | 1,617 | 12,433 | (**) | |||
| Travelling | expenses | 389 | 166 | 83 | 638 | (**) | ||
| Bank | charges | 5,979 | 2,562 | 1,277 | 9,818 | (**) | ||
| Others | 5,147 | 2,206 | 1,099 | 8,452 | (**) | |||
| 193,508 | 62,115 | 16,757 | 272,380 | |||||
| Basis of | ||||||||
| Charitable | apportion | |||||||
| Cost | type | activities | Governance | Total | -ment | |||
| USD | USD | USD | ||||||
| 2019 | ||||||||
| Staff Rent |
costs and utilities |
162,148 17,034 |
48,403 5,765 |
9,681 3,407 |
220,232 26,206 |
() (**) |
||
| Office expenses | 10,126 | 3,427 | 2,025 | 15,578 | (**) | |||
| Travelling | expenses | 1,281 | 434 | 256 | 1,971 | (**) | ||
| Bank | charges | 4,081 | 1,381 | 816 | 6,278 | (**) | ||
| Others | 4,788 | 1,621 | 958 | 7,367 | (**) | |||
| 199,458 | 61,031 | 17,143 | 277,632 |
| analysed | by activ | ity w | as: | ||
|---|---|---|---|---|---|
| Average | number | ||||
| 2020 | 2019 | ||||
| Director | 1 | 1 | |||
| Charitable | activities | 14 | 15 | ||
| Fundraising | 6 | 5 | |||
| Finance, | Admin, | HR, | IT | 10 | 9 |
| 30 |
| Staff c | osts | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| USD | USD | ||||
| Salaries, | wages | and | benefits | 355,437 | 369,959 |
| Insurance | 88,992 | 84,706 | |||
| Others | 4,336 | 11,689 | |||
| 448,765 | 466,354 |
| Number | of | employees |
|---|---|---|
| 2020 | 2019 |
| Donation | recervables |
|---|---|
| Others |
| 31/12/2020 | 31/12/2019 |
|---|---|
| USD | USD |
| 44,565 | 285,299 |
| 395,610 | 134,402 |
| 440,175 | 419,701 |
| Cash | |||||||
|---|---|---|---|---|---|---|---|
| 31/12/2020 | 31/12/2019 | ||||||
| USD | USD | ||||||
| Cash on hand | 4,680 | 11,995 | |||||
| Cash in banks |
570,886 | 585,090 | |||||
| 575,566 | 597,085 | ||||||
| Accrued expenses | |||||||
| 31/12/2020 | 31/12/2019 | ||||||
| USD | USD | ||||||
| School building | 96,676 | 195,918 | |||||
| Bonus and 13th salary | 25,646 | 34,082 | |||||
| Others | 24,472 | 12,918 | |||||
| 146,794 | 242,918 | ||||||
| Deferred income | |||||||
| 31/12/2020 | 31/12/2019 | ||||||
| USD | USD | ||||||
| Current liabilities |
|||||||
| Restricted donations: | |||||||
| School building | (a) | 82,793 | 72,311 | ||||
| Child Development | Scholarship | Program | (b) | 279,981 | 243,273 | ||
| Getting Ready | for work (b) | 32,115 | 140,110 | ||||
| Special need education | Program | (b) | 117,403 | 125,622 | |||
| Covid Appeal | (b) | 76,702 | |||||
| Others | 8,592 | 24,618 | |||||
| 597,586 | 605,934 |
| Moveme | nts in the de |
ferre | d i |
ncome | during the year were as fo |
llows: |
|---|---|---|---|---|---|---|
| USD | ||||||
| Opening | balance | 605,934 | ||||
| Increase | in deferred | income | during | the year | 598,143 | |
| Deferred | income realised | during the | year | (606,491) | ||
| Closing | balance | 597,586 |
| Funds | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | Total | ||
| USD | USD | USD | ||
| Income | 446,342 | 1,171,470 | 1,617,812 | |
| Expenditure | (117,453) | (1,396,932) | (1,514,385) | |
| Net income/(expenditure) | before transfers | 328,889 | (225,462) | 103,427 |
| Gross transfers between |
funds (*) | (225,462) | 225,462 | |
| Net expenditure after transfers |
103,427 | 103,427 | ||
| Total funds brought forward at 1 January 2020 |
167,934 | 167,934 | ||
| Total funds carried forward at 31 December 2020 |
271,361 | 271,361 |
| The fu | ture | minimum lease payments under |
non-cancellable operating lease |
s were: |
|---|---|---|---|---|
| 31/1 2/2020 | 31/12/2019 | |||
| USD | USD | |||
| Within | one | year | 15,359 | 25,834 |
| Within | two | to five years | 15,644 | |
| 15,359 | 41,478 |