**Saigon Children's Charity CIO** 

Annual Report for the year ended 31 December 2022 






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|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|







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|**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)|



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|**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|






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|||**2022**|**2022**|**2022**|**2021**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|||
||**Note**|**funds**|**funds**|**Total**|**Total**|
|||**USD**|**USD**|**USD**|**USD**|
|**Income**<br>_Donations_<br>■School building<br>■Child Development<br>Scholarship Program<br>■Getting Ready for work|||141,280<br>441,644<br>176,125|141,280<br>441,644<br>176,125|227,806<br>432,917<br>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|<br>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**|







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|||**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)**<br>**before transfers**||**303,016**|**(194,243)**|**108,773**|**63,284**|
|**Gross transfers**<br>**between funds**||**(194,243)**|**194,243**|||
|**Net income after transfers**||**108,773**|-|**108,773**|**63,284**|








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||**Note**|**31/12/2022**<br>**USD**|**31/12/2021**<br>**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<br>beginning of the year||334,645|271 ,361|
|Netexpenditure for the year||108,773|63,284|
|**Funds carried forwardattheendoftheyear**|**14**|**443,418**|**334,645**|








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||**Note**|**2022**<br>**USO**|**2021**<br>**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**|






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||**Note**|**2022**<br>**USD**|**2021**<br>**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**|






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||**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|
|||||-|






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|**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|



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|**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|



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|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||






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|<br>analysed by activity was:||||
|---|---|---|---|
||**Average number**|||
||**2022**|<br>**2021**||
|Director||1|1|
|Charitable activities||16|15|
|Fundraising||7|7|
|Finance, Admin, HR, IT||8|8|
|||32|31|



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|**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**|



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|**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|





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|**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|



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|**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|





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|<br>**(continued)**<br>**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|



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||**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|






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|<br>**(continued)**<br>**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<br>at 1 January 2022|334,645||334,645|
|Total funds carried forward<br>at31December 2022|443,418||443,418|



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||**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|