| Contents | Page number | |
| Organisation information |
2 —3 | |
| Chairman's report |
4 —5 | |
| Declaration —Serious Incidents |
||
| Executive Director's report |
7 —13 | |
| Independent auditors' report |
14 —16 | |
| Financial statements | ||
| Statement of financial |
activities | 17 —18 |
| Balance sheet | 19 | |
| Statement of cash flows |
20 —21 | |
| Notes to the financial | statements | 22 —29 |
| 2021 | 2021 | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||
| Note | funds | funds | Total | Total | ||||
| USD | USD | USD | USD | |||||
| Income | ||||||||
| Oonati ons | ||||||||
| ~ | School | building | 227,806 | 227,806 | 169,699 | |||
| ~ | Child Development | |||||||
| Scholarship | Program | 432,917 | 432,917 | 389,149 | ||||
| ~ | Getting | Ready for work | 161,401 | 161,401 | 196,587 | |||
| ~ | Special | need | education | |||||
| Program | 36,982 | 36,982 | 66,840 | |||||
| ~ | COVID-19 Appeal | 583,868 | 583,868 | 348,297 | ||||
| ~ | You are | not | alone | 28,859 | 28,859 | |||
| ~ | General | donations | 174,880 | 174,880 | 133,862 | |||
| ~ | Bank interest | 18,756 | 18,756 | 12,834 | ||||
| ~ | Others | 351 | 351 | 898 | ||||
| Events and trading activities |
3 | 51,035 | 51,035 | 295,889 | ||||
| Exchange | differences | 3,201 | 3,201 | 3,757 | ||||
| Total Income | 247,872 | 1,472,184 | 1,720,056 | 1,617,812 |
| N t | 31/12/2021 USD |
31/12/2020 USD |
||||
|---|---|---|---|---|---|---|
| Current assets | ||||||
| Accounts | receivable | 9 | 655,815 | 440,175 | ||
| Cash | 10 | 818,130 | 575,566 | |||
| 1,473,945 | 1,015,741 | |||||
| Current liabilities |
||||||
| Accrued | expenses | 11 | (114,099) | (146,794) | ||
| Deferred | income | 12 | (1,025,201) | (597,586) | ||
| (1,139,300) | (744,380) | |||||
| Net assets | 334,645 | 271,361 | ||||
| Funds | ||||||
| Funds brought forward at the beginning of the year |
271,361 | 167,934 | ||||
| Net expenditure | for the year | 63,284 | 103,427 | |||
| Funds carried forward at the end ofthe year | 13 | 334,645 | 271,361 |
| Note | 2021 USD |
2020 USD |
|||||
|---|---|---|---|---|---|---|---|
| CASH FLOWS FROM | OPERATING ACTIVITIES | ||||||
| Income | |||||||
| School building | 219,402 | 173,545 | |||||
| Child Development | Scholarship | Program | 45 l,191 | 419,541 | |||
| Getting Ready for work |
193,892 | 197,804 | |||||
| Special need education | Program | 87,822 | 90,923 | ||||
| COVID-19 appeal | 610,184 | 417,753 | |||||
| You are not alone | 101,674 | ||||||
| Other activities | 398,440 | 564,204 | |||||
| 2,062,605 | 1,863,770 | ||||||
| Expenditure | |||||||
| School building | 256,163 | 272,221 | |||||
| Child Development | Scholarship | Program | 561,059 | 431,203 | |||
| Getting Ready for work |
95,873 | 186,110 | |||||
| Special need education | Program | 51,987 | 77,555 | ||||
| COVID-19 appeal | 505,016 | 395,791 | |||||
| You are not alone | 103,891 | ||||||
| Other activities | 208,878 | 215,821 | |||||
| Operating expenses |
45,259 | 34,783 | |||||
| 1,828,126 | 1,613,484 | ||||||
| Net cash flows from | operating | activities | 234,479 | 250,286 | |||
| CASH FLOWS FROM | INVESTING | ACTIVITIES | |||||
| Placements of term deposits |
(445,331) | (466,536) | |||||
| Receipts of term deposits | and interest | 450,215 | 190,974 | ||||
| Net cash flows from | investing | activities | 4,884 | (275,562) |
| Note | 2021 | 2020 USD |
|||
|---|---|---|---|---|---|
| Net cash flows during the year | 239,363 | (25,276) | |||
| Cash at beginning | ofthe year | 575,566 | 597,085 | ||
| Effect of exchange | rate fluctuations | on cash | 3,201 | 3,757 | |
| Cash at end ofthe | year | 'l0 | 818,130 | 575,566 |
| 2021 | 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | Total | Total | |||
| USD | USD | USD | USD | |||
| Summer | Ball events | 22 | 22 | 147,162 | ||
| Charity Cycle Adventure | 9,515 | 9,515 | I09,981 | |||
| H2H bike ride | 5,694 | 5,694 | 15,552 | |||
| Cards, calendars | and T-shirts | 14,077 | I4,077 | 14,793 | ||
| Step challenge | 6,085 | 6,085 | 8,380 | |||
| Others | 15,642 | 15,642 | 21 | |||
| 51,035 | 51,035 | 295,889 |
| Fund raising | |||||
|---|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | ||
| Unrestricted | Restricted | ||||
| funds | funds | Total | Total | ||
| USD | USD | USD | USD | ||
| Staff costs | 20,266 | 121,941 | 142,207 | 146,473 | |
| Support costs | 1,525 | 9,179 | 10,704 | 14,527 | |
| Summer Ball events |
3,152 | 3,152 | 23,828 | ||
| Charity Cycle Adventure | 150 | 150 | 35,206 | ||
| Cards, calendars | and T-shirts | 6,580 | 6,580 | 2,212 | |
| Step challenge | 6,005 | 6,005 | 4,196 | ||
| H2H bike ride | 11 | 11 | 11 | ||
| Others | 3,821 | 3,821 | 2,390 | ||
| 41,510 | 131,120 | 172,630 | 228,843 |
| 2021 | 2021 | 2021 | 2020 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total | Total | ||
| USD | USD | USD | USD | ||
| Staff costs | 1,763 | 10,606 | 12,369 | 12,682 | |
| Rent and utilities | 572 | 3,443 | 4,015 | 3,163 | |
| Office expenses | 256 | 1,543 | 1,799 | 1,617 | |
| Travelling | expenses | 7 | 43 | 50 | 83 |
| Bank charges | 413 | 2,483 | 2,896 | 1,277 | |
| Others | 167 | 1,006 | 1,173 | 1,101 | |
| 3,178 | 19,124 | 22,302 | 19,923 |
| Cost of | ||||||
|---|---|---|---|---|---|---|
| Charitable | generating | Basis of | ||||
| Cost | type | activities | funds | Governance | Total | apportionment |
| USD | USD | USD | USD | |||
| 2021 | ||||||
| Staff costs | 174,950 | 39,253 | 9,813 | 224,016 | (*) | |
| Rent and | utilities | 10,421 | 4,327 | 4,015 | 18,763 | (**) |
| Office expenses | 4,670 | 1,939 | 1,799 | 8,408 | (**) | |
| Travelling | expenses | 126 | 53 | 49 | 228 | (**) |
| Bank charges | 7,519 | 3,122 | 2,896 | 13,537 | (**) | |
| Others | 3,045 | 1,264 | 1,173 | 5,482 | (**) | |
| 200,73 I | 49,958 | I9,745 | 270,434 | |||
| Cost of | ||||||
| Charitable | generating | Basis of | ||||
| Cost | type | activities | funds | Governance | Total | apportionment |
| 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 | I6,757 | 272,380 |
| Average | number | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Director | 1 | 1 | |||
| Charitable | activities | 15 | 14 | ||
| Fundraising | 7 | 6 | |||
| Finance, Admin, | HR, IT | 8 | 10 | ||
| 31 | 31 |
| Staff c | osts | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| USD | USD | ||||
| Salaries, | wages | and | benefits | 393,296 | 355,437 |
| Insurance | 84,181 | 88,992 | |||
| Others | 2,370 | 4,336 | |||
| 479,847 | 448,765 |
| Number of |
employees | ||
|---|---|---|---|
| 2021 | 2020 | ||
| USD100,000 - 110,000 | |||
| Accoun | ts receivable | ||
| 31/12/2021 | 31/12/2020 | ||
| USD | USD | ||
| Donation | receivables | 244,509 | 44,565 |
| Others | 411,306 | 395,610 | |
| 655,815 | 440,175 |
| Cash | ||||||
|---|---|---|---|---|---|---|
| 31/12/2021 | 31/12/2020 | |||||
| USD | USD | |||||
| Cash on hand | 2,059 | 4,680 | ||||
| Cash in banks |
816,07 I |
570,886 | ||||
| 818,130 | 575,566 | |||||
| Accrued expenses | ||||||
| 31/12/2021 | 31/12/2020 | |||||
| USD | USD | |||||
| School building | 51,878 | 96,676 | ||||
| Bonus and 13th salary | 53,885 | 25,646 | ||||
| Others | 8,336 | 24,472 | ||||
| 114,099 | 146,794 | |||||
| Deferred income | ||||||
| 31/12/2021 | 31/12/2020 | |||||
| USD | USD | |||||
| Current liabilities |
||||||
| Unrestricted donations |
71,622 | |||||
| Restricted donations: | ||||||
| School building (a) |
93,612 | 82,793 | ||||
| Child Development | Scholarship | Program | (b) | 294,615 | 279,981 | |
| Getting Ready for work | (b) | 55,708 | 32,115 | |||
| Special need education | Program | (b) | 172,756 | 117,403 | ||
| COVID-19 Appeal | (b) | 255,431 | 76,702 | |||
| You are not alone | 72,865 | |||||
| Others | 8,592 | 8,592 | ||||
| 1,025,201 | 597,586 |
| Moveme | nts in the de |
ferred | inco | me | during the year were as f |
ollows: |
|---|---|---|---|---|---|---|
| USD | ||||||
| Opening | balance | 597,586 | ||||
| Increase | in deferred | income during | the year | 1,025,201 | ||
| Deferred | income realised | during | the | year | (597,586) | |
| Closing | balance | 1,025,201 |
| Funds | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | Total | ||
| USD | USD | USD | ||
| Income | 247,872 | 1,472,184 | 1,720,056 | |
| Expenditure | (44,688) | (1,612,084) | (1,656,772) | |
| lUet income/(expenditure) | before transfers | 203,184 | (139,900) | 63,284 |
| Gross transfers between |
funds (*) | (139,900) | 139,900 | |
| Net expenditure after transfers |
63,284 | 63,284 | ||
| Total funds brought forward at 1 January 2021 |
271,361 | 271,361 | ||
| Total funds carried forward at 31 December 2021 |
334,645 | 334,645 |
| 31/12/2021 | 31/12/2020 | |||
|---|---|---|---|---|
| USD | USD | |||
| Within | one | year | 26,081 | 15,359 |
| Within | two | to five years | 42,237 | |
| 68,318 | 15,359 |