##
|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|||
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||||||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|
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||||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|
##
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|||||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|