Saigon Children's Charity CIO
Annual Report for the year ended 31 December 2022
| Organisation information | 2-3 |
|---|---|
| Chairman's report | 4-5 |
| Declaration - Serious Incidents | 6 |
| 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 |
| BoardofTrustees | DavidHuwAppleton (Chairman) |
|---|---|
| DianaSimoneWells | |
| Jonathon Ralph AlexanderWaugh | |
| RichardJamesBurrage | |
| Seek YeeChung | |
| Tieu YenTrinh(until14March 2023) | |
| Alexander Christopher Falter (from 2June2022) | |
| James Samuel Charles Estaugh (from 2June2022) | |
| Jason Michael Turnbull (from13October 2022) | |
| Paul Graham Cleves (until 2 November 2022) | |
| Nguyen Thi Thanh True (until24February 2022) | |
| Paul Theodore McGee (until01June2023) | |
| Paul Adrian Smith (until 17 February 2022) |
| Executive Director | Damien Roberts |
|---|---|
| Senior Management Team | |
| HeadofProgrammes | Nguyen ThiDuyHuong |
| HeadofFundraising & | AngeliqueMasseNguyen (until31July2023) |
| Communications | Vuong NgocVyVan (from 1August2023) |
| HeadofFinance&Admin | Le Le AnNa |
| CDSP Programme Manager | Nguyen Sinh Quang Anh |
| School Building&Learning | |
| Environment Programme | |
| Manager | NguyenHoangPhuong |
| GettingReadyforWork | |
| Programme Manager | Phan ThanhThuyHang |
| SpecialNeedsEducational | Nguyen Long Dien (from13July2022until 30 |
| Programme Manager | September 2023) |
| United Kingdom Charity | |
| Registration Number | 1157774 |
| 2022 | 2022 | 2022 | 2021 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| Note | funds | funds | Total | Total | |
| USD | USD | USD | USD | ||
| Income Donations ■School building ■Child Development Scholarship Program ■Getting Ready for work |
141,280 441,644 176,125 |
141,280 441,644 176,125 |
227,806 432,917 161,401 |
||
| ■Special need education | |||||
| Program | 175,877 | 175,877 | 36,982 | ||
| ■COVI D-19 Appeal | 292,688 | 292,688 | 583,868 | ||
| • You are not alone | 90,129 | 90,129 | 28,859 | ||
| ■General donations | 116,422 | - | 116,422 | 174,880 | |
| ■Bank interest | 20,650 | - | 20,650 | 18,756 | |
| ■Others | 11,901 | 11,901 | 351 | ||
| Events and trading activities | 3 |
343,449 | - | 343,449 | 51,035 |
| Exchange differences | (53,542) | - | (53,542) | 3,201 | |
| Total Income | 426,979 | 1,329,644 | 1,756,623 | 1,720,056 |
| 2022 | 2022 | 2022 | 2021 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| Note | funds | funds | Total | Total | |
| USD | USD | USD | USD | ||
| Expenditure | |||||
| Charitable activities: | |||||
| • School building | - | 164,360 | 164,360 | 208,743 | |
| • Child Development | |||||
| Scholarship Program | - | 477,175 | 477,175 | 391,229 | |
| • Getting Ready for work | - | 167,564 | 167,564 | 142,525 | |
| • Special need education | |||||
| Program | - | 188,465 | 188,465 | 59,927 | |
| • COVI D-19 Appeal | - | 291,220 | 291,220 | 574,975 | |
| • You are not alone | - | 108,660 | 108,660 | 84,441 | |
| Costofgenerating funds: | |||||
| • Fund raising | 4 | 117,499 | 108,556 | 226,055 | 172,630 |
| Governance | 5 | 6,464 | 17,887 | 24,351 | 22,302 |
| Total Expenditure | 123,963 | 1,523,887 | 1,647,850 | 1,656,772 | |
| Net income/(expenditure) before transfers |
303,016 | (194,243) | 108,773 | 63,284 | |
| Gross transfers between funds |
(194,243) | 194,243 | |||
| Net income after transfers | 108,773 | - | 108,773 | 63,284 |
| Note | 31/12/2022 USD |
31/12/2021 USD |
|
|---|---|---|---|
| Current assets | |||
| Accounts receivable | 9 | 133,931 | 244,811 |
| Cash | 10 | 790,759 | 818,130 |
| Held-to-maturity investments | 11 | 412,682 | 411,004 |
| 1,337,372 | 1,473,945 | ||
| Current liabilities | |||
| Accrued expenses | 12 | (79,131) | (114,099) |
| Deferred income | 13 | (814,823) | (1,025,201) |
| (893,954) | (1,139,300) | ||
| Net assets | 443,418 | 334,645 | |
| Funds | |||
| Funds brought forward at the beginning of the year |
334,645 | 271 ,361 | |
| Netexpenditure for the year | 108,773 | 63,284 | |
| Funds carried forwardattheendoftheyear | 14 | 443,418 | 334,645 |
| Note | 2022 USO |
2021 USO |
|
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Income | |||
| School building | 261,168 | 219,402 | |
| Child Development Scholarship Program | 440,352 | 451,191 | |
| Getting Ready for work | 197,946 | 193,892 | |
| Special need education Program | 118,506 | 87,822 | |
| COVID-19 appeal | 223,200 | 610,184 | |
| You are not alone | 62,511 | 101,674 | |
| Other activities | 484,694 | 398,440 | |
| 1,788,377 | 2,062,605 | ||
| Expenditure | |||
| School building | 194,955 | 256,163 | |
| Child Development Scholarship Program | 497,746 | 561,059 | |
| Getting Ready for work | 186,837 | 95,873 | |
| Special need education Program | 217,577 | 51,987 | |
| COVID-19 appeal | 293,949 | 505,016 | |
| You are not alone | 108,893 | 103,891 | |
| Other activities | 236,345 | 208,878 | |
| Operating expenses | 40,282 | 45,259 | |
| 1,776,583 | 1,828,126 | ||
| Net cash flows from operating activities | 11,794 | 234,479 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Placements of term deposits | (308,633) | (445,331) | |
| Receipts of term deposits | 306,955 | 432,865 | |
| Receipts of interest | 16,056 | 17,350 | |
| Net cash flows from investing activities | 14,378 | 4,884 |
| Note | 2022 USD |
2021 USD |
|
|---|---|---|---|
| Net cash flows during the year | 26,172 | 239,363 | |
| Cash at beginning of the year | 818,130 | 575,566 | |
| Effectofexchange rate fluctuations on cash | (53,543) | 3,201 | |
| Cash atendof the year | 10 | 790,759 | 818,130 |
| 2022 | 2022 | 2022 | 2021 | |
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | Total | Total | |
| USD | USD | USD | USD | |
| Summer Ball events | 146,931 | - | 146,931 | 22 |
| Charity Cycle Adventure | 96,244 | 96,244 | 9,515 | |
| H2H bike ride | - | - | 5,694 | |
| Cards, calendars and T-shirts | 15,227 | - | 15,227 | 14,077 |
| Step challenge | 14,412 | - | 14,412 | 6,085 |
| Others | 70,635 | 70,635 | 15,642 | |
| 343,449 | 343,449 | 51,035 | ||
| - |
| Fund raising | ||||
|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2021 | |
| Unrestricted | Restricted | |||
| funds | funds | Total | Total | |
| USD | USD | USD | USD | |
| Staff costs | 35,564 | 98,407 | 133,971 | 142,207 |
| Support costs | 3,668 | 10,149 | 13,817 | 10,704 |
| Summer Ball events | 45,009 | 45,009 | 3,152 | |
| Charity Cycle Adventure | 25,098 | 25,098 | 150 | |
| Cards, calendars and T-shirts | 1,286 | 1,286 | 6,580 | |
| Step challenge | 2,386 | 2,386 | 6,005 | |
| H2H bike ride | 11 | |||
| Others | 4,488 | 4,488 | 3,821 | |
| 117,499 | 108,556 | 226,055 | 172,630 |
| Governance | ||||
|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2021 | |
| Unrestricted | Restricted | |||
| funds | funds | Total | Total | |
| USD | USD | USD | USD | |
| Staff costs | 2,689 | 7,440 | 10,129 | 12,369 |
| Rent and utilities | 1,547 | 4,280 | 5,827 | 4,015 |
| Office expenses | 621 | 1,720 | 2,341 | 1,799 |
| Travelling expenses | 32 | 87 | 119 | 50 |
| Bank charges | 798 | 2,208 | 3,006 | 2,896 |
| Others | 777 | 2,152 | 2,929 | 1,173 |
| 6,464 | 17,887 | 24,351 | 22,302 |
| below: | |||||
|---|---|---|---|---|---|
| Cost of | |||||
| Charitable | generating | Basis of | |||
| Cost type | activities | funds | Governance | Total | apportionment |
| USD | USD | USD | USD | ||
| 2022 | |||||
| Staffcosts | 189,937 | 30,406 | 10,135 | 230,478 | (*) |
| Rentandutilities | 14,595 | 5,661 | 5,827 | 26,083 | (**) |
| Officeexpenses | 5,863 | 2,274 | 2,341 | 10,478 | (**) |
| Travelling expenses | 296 | 116 | 118 | 530 | (**) |
| Bankcharges | 7,531 | 2,921 | 3,007 | 13,459 | (**) |
| Others | 7,337 | 2,846 | 2,930 | 13,113 | (**) |
| 225,559 | 44,224 | 24,358 | 294,141 | ||
| Cost of | |||||
| Charitable | generating | Basis of | |||
| Cost type | activities | funds | Governance | Total | apportionment |
| USD | USD | USD | USD | ||
| 2021 | |||||
| Staffcosts | 174,950 | 39,253 | 9,813 | 224,016 | (*) |
| Rentandutilities | 10,421 | 4,327 | 4,015 | 18,763 | (**) |
| Office expenses | 4,670 | 1,939 | 1,799 | 8,408 | (**) |
| Travelling expenses | 126 | 53 | 49 | 228 | (**) |
| Bankcharges | 7,519 | 3,122 | 2,896 | 13,537 | (**) |
| Others | 3,045 | 1,264 | 1,173 | 5,482 | (**) |
| 200,731 | 49,958 | 19,745 | 270,434 |
analysed by activity was: |
|||
|---|---|---|---|
| Average number | |||
| 2022 | 2021 |
||
| Director | 1 | 1 | |
| Charitable activities | 16 | 15 | |
| Fundraising | 7 | 7 | |
| Finance, Admin, HR, IT | 8 | 8 | |
| 32 | 31 |
| Staff costs | ||
|---|---|---|
| 2022 | 2021 | |
| USD | USD | |
| Salaries, wages and benefits | 384,449 | 393,296 |
| Insurance | 89,303 | 84,181 |
| Others | 5,033 | 2,370 |
| 478,785 | 479,847 |
| Number | of employees |
|---|---|
| 2022 | 2021 |
| Accounts receivable | ||
|---|---|---|
| 31/12/2022 | 31/12/2021 | |
| USD | USD | |
| Donation receivables | 133,931 | 244,509 |
| Others | 412,682 | 411,306 |
| 546,613 | 655,815 |
| Cash | |||
|---|---|---|---|
| 31/12/2022 | 31/12/2021 | ||
| USD | USD | ||
| Cash on | hand | 7,442 | 2,059 |
| Cash in | banks | 783,317 | 816,071 |
| 790,759 | 818,130 |
| Accrued expenses | ||
|---|---|---|
| 31/12/2022 | 31/12/2021 | |
| USD | USD | |
| School building | 28,914 | 51,878 |
| Bonus and 13thsalary | 41,297 | 53,885 |
| Others | 8,920 | 8,336 |
| 79,131 | 114,099 |
(continued) Deferred income |
||
|---|---|---|
| 31/12/2022 | 31/12/2021 | |
| USO | USD | |
| Current liabilities | ||
| Unrestricted donations | 59,650 | 71,622 |
| Restricted donations: | ||
| School building (a) | 229,115 | 93,612 |
| Child Development Scholarship Program (b) | 297,198 | 294,615 |
| Getting Ready for work(b) | 60,486 | 55,708 |
| Special need education Program (b) | 104,504 | 172,756 |
| COVID-19 Appeal (b) | 24,822 | 255,431 |
| You are not alone | 39,048 | 72,865 |
| Others | 8,592 | |
| 814,823 | 1,025,201 |
| USD | |
|---|---|
| Opening balance | 1,025,201 |
| Increaseindeferred income during the year | 814,823 |
| Deferred income realised during the year | (1,025,201) |
| Closing balance | 814,823 |
(continued) Funds |
|||
|---|---|---|---|
| Unrestricted | Restricted | ||
| funds | funds | Total | |
| USD | USD | USD | |
| Income | 426,979 | 1,329,644 | 1,756,623 |
| Expenditure | (123,963) | (1,523,887) | (1,647,850) |
| Net income/(expenditure) before transfers | 303,016 | (194,243) | 108,773 |
| Gross transfers betweenfunds(*) | (194,243) | 194,243 | |
| Net expenditure after transfers | 108,773 | 108,773 | |
| Total funds brought forward at 1 January 2022 |
334,645 | 334,645 | |
| Total funds carried forward at31December 2022 |
443,418 | 443,418 |
| 31/12/2022 | 31/12/2021 | |
|---|---|---|
| USD | USD | |
| Within one year | 26,376 | 26,081 |
| Within two to five years | 15,646 | 42,237 |
| 42,022 | 68,318 |