Saigon Children's Charity CIO
Annual Report for the year ended
31 December 2024

Saigon Children's Charity CIO
Annual Report
For the year ended 31 December 2024
Contents
Page number
Organisation infomation
Chairman's report
Declaration - Serious Incidents
Executive Director's report
Independent audrtors, report
Financial statements
Statement of financial activities
Balance sheel
7-11
12-14
15-16
17
Statement of cash flows
Notes to the financial statements
18-19
20-27
saigonchildren Saigon Children's CharltyCIO
59 Tran Thw). Thst.3. HCMC, VN
R￿1Ster￿1 chaTitynLrnbers-.
+84 28 3930 3502
UK 1157774 | VN 63JCNV-VPOD
wWW.5aw￿bfvjrelI cun

Saigon Children's Charity CIO
Organisation Information
Board of Trustees
David Huw Appleton (Chairman)
Diana Simone Wells
Jonathon Ralph Alexander Waugh
Richard James Burrage
Seck Yee Chung
Alexander Christopher Falter
James Samuel Charles Estaugh
Jason Michael Turnbull
Neil Alexander MacGregor (from 19 June 2025)
Executive Director
Damien Roberts
Senlor Management Team
Head of Programmes
Nguyen Thi Duy Huong
Head of Fundraising &
Communications
Vuong Ngoc Vy Van
Head of Finance & Admin
LeLeAnNa
CDSP Programme Manager
Nguyen Sinh Quang Anh
School Building & Learning
Environment Programme
Manager
Nguyen Hoang Phuong
Getting Ready for Work
Programme Manager
Phan Thanh Thuy Hang
Special Needs Educational
Programme Manager
Phan Ngoc Thanh Tra (from 01 February 2024)
Unlted Klngdom Charlty
Registratlon Number
1157774
saigonchildren Saigon Chlldren's Charlty CIO
59 Tran QU￿ Th￿. t*st.3. HCMC, VN
R￿jiSter￿1 charity nLNnL￿rs".
UK 115tT14 | VN 631CNV.VPDD sw)rKhiklren.COTn
+84 28 3930 3502
r￿D￿ngba￿r5 to eduuton

Saigon Children's Charity CIO
Organisation Information
Registered Office
(United Kingdom)
24 Gloucester Road
Teddington. Middlesex
TW11 ONU
Main Operating Office
(Vietnam)
59 Tran Quoc Thao
Xuan Hoa Ward, Ho Chi Minh City, Vietnam
Bankers
HSBC United Kingdom, HSBC Vietnam
Vietnam International Bank (VIB)
Standard Chartered Hong Kong
Vietnam Commercial Bank (VCB)
Vietnam Public Joint Stock Commercial Bank
(Pvcombank)
Kasikornbank Public Company Limited - Ho Chi
Minh Branch (Kbank)
Legal Advlsor (pro bono)
Freshfields Bruckhaus Deringer
1101-1103, Saigon Tower
29 Le Duan Boulevard
District 1.Ho Chi Minh City, Vietnam
Auditor (pro bono)
KPMG Limited
Vietnam
saigonchildren ￿gon Chlldran's Charity CIO
59 Tran Quw Th*), Dist.3, HCMC. VN
RwislÈr&l chanty numi￿".
UK 1157T14 | VN 631CNV_VPDO sawNLhiklren cotn
+84 2.8 3930 3502
movin9 bw¥*rs to educatw

Chairman's Report
From the Chalrman of Saigon Children's Charity CIO, Mr David Huw Appleton
l am pleased to present the Saigon Children's Charity CIO ('saigonchildren') Annual Report for
2024 and to thank all who have supported our work to remove barriers to education for Vietnam's
most disadvantaged children.
sin￿ 1992, saigonchildren has helped young people aC￿sS quality education, practical skills,
and specialist support, empowering them to overcome challenges and build better futures. In
2024, our four core programmes-scholarships, school building, vocational training, and special
needs education reached 7905 children and young adults across Vietnam.
We are proud to continue deep, effective work that addresses both immediate educational needs
and long-term social development goals. as recognised re￿ntlY by the Chairman of Ho Chi Minh
City's People's Committee, who awarded saigonchildren a Certificate of Merit for our 2024
contributions to education and economic development.
Our total income in 2024 was US$1,8 million, allowing us to invest in impactful, timely support.
Thanks to your generosity. we helped thousands of students to stay in school, trained hundreds
of teachers and therapists. and improved learning environments for thousands of children.
This year also marked the successful conclusion of our 30-year journey with Thang Long School
in Ho Chi Minh City, where generations of disadvantaged students gained not just education, life
skills and counselling, but also hope and confidence. The ￿lebratiOn of achievements of Thang
Long School alumni - many now in fulfilling careers in international companies and contributing
to their communities- reminds us what sustained, compassionate investment can achieve.
Other saigonchildren projects in 2024 include an initiative in the Mekong Delta helping families
maintain resilient livelihoods to give their children the stability needed to stay in education, training
for 500 teachers in adOleS￿nt mental health, and a project praised by provincial authorities
educating 1,710 students on gender, relationships, and wellbeing.
Following the tragic destruction caused by Typhoon Yagi in September 2024, we restored four
kindergartens in Tuyen Quang province, ensuring safe education for over 250 children.
Across these efforts, our team of social workers, educators and therapists remain focused on
those often left behind-children with disabilities, ethnic minorities. girls, and those in rural
povety-offering them access to education and the opportunity to thrive.
To all of our supporters. l express sincere appreciation. Your contributions have made
measurable, lasting change in the lives of children across Vietnam. On behalf of the Board of
Trustees, I confirm our ongoing commitment to diligent governance, transparency, and the
responsible use of every contribution entrusted to us.
saigonchildren Saigon Childr•n'8 Charity CIO
Registered charity numbers..
+84 28 3930 3502
mwng barr4wsloethKa¢b
59 Tran QU[￿ Th￿, Dist.3. HCMC. VN
UK 115tT14 | VN ￿cNv-VP￿D Www.Sawr￿hth1teTr com

This Trustees, Annual Report. including this message. the Executive Director's Report and
audited Financial Statements and Notes (audtted by KPMG), has been approved by the Board of
Trustees on 28 October 2025, and l am aulhorised to sign the report on their behalf.
Thank you.
VAN PHONG
Al DI
TAI VIÈT NAM
Da
Appleton
n of the Board of Trustees
gon Children's Charity CIO
Charity Number 157774
28 October 2025
saigonchildren Salgon Chlldren'8 Clwity CIO
RegiSter￿j clw'ty nUmt￿s.
UK 115TT14 | VN 631CNV-VPEJD wviw saw￿h1k￿reTh com
+84 28 3930 3502
r¢mwThJ barr*rstoethJcatw)n
59 Tran QU￿ ThaD, ￿51.3. HCMC. VN

Declaration - Serious Incidents
Charity Law requires us as Saigon Children's Charity CIO Board of Trustees to submit and sign,
as part of this annual return, this declaration to confirm that there were no serious incidents or
other matters relating to Saigon Children's Charty CIO during the previous financial year, 2023,
that we should have brought to the attention of the Charity Commission of England and Wales,
but have not.
VAN PHONG
Al
TAI vI¢T NAM
w Appleton
an of the Board of Trustees
Igon Children's Charity CIO
Charity Number 157774
28 October 2025
saigonchildren Saigon Children's Charlty CIO
59 Tran QU￿ Thw. Thst.3. HCMC, VN
Registeied charity numL*rs"
UK 115tT14 1 VN 6NCNV_VPE)D bWM.saw))r￿￿"kAien com
+84 28 3930 3502
ramwngbarrigfsto ed￿at#

Executive Director's Report
EXECUTIVE DIRECTOR'S NOTE
The mission of Saigon Children's Charity CIO ('saigonchildren") remains to advance economic
development through inclusive education. Since 1992, we have been committed to removing
barriers to education for Vietnam's most disadvantaged children and youth, enabling them to
learn, grow, and reshape their futures.
As Vietnam continues to develop, it is vital that saigonchildren equips the next generation with
the skills and capabilities needed to benefit from and accelerate this development. In doing so we
ensure education supports prosperity, inclusion and security at every level.
Although 2024 was a challenging year globally, including for many of our key donors,
saigonchildren still had its second most suc￿Ssful year ever for both income and for the
assistance we provided to vulnerable children and young people.
Through our 4 core programmes-scholarships. vocational training, school building. and special
needs education-we continually adapt our support to meet evolving needs. In 2024, this meant
enhancing Early Intervention services. strengthening employability-focused training, investing in
digital and soft skills, supporting adolescent mental health, and expanding leadership
development opportunities.
Our work leads to enduring outcomes. Children supported by saigonchildren are more likely to
enter stable employment, with post-university starting salaries significantly higher than their
parents, income, lifting entire families out of poverty and fostering long-term social mobility.
We are equally proud of the ripple effects: many alumni return to give back, mentoring younger
peers or contributing to their communities. The success stories highlighted on our website-from
college graduates mentoring others to children with autism enjoying their first days of school-
reflect the breadth and depth of the impact you help make possible.
Across our project areas we're seeing families struggle, particularly in vulnerable regions such as
the Mekong Delta, where many face drought, salinisation and cost pressures. In response, and
based on substantial community consultation, saigonchildren has expanded its education-
focused model lo integrate community resilience-building. This ensures households are better
positioned to support children's leaming without disruption from unforeseen pressures.
This year, we launched a three-year climate-adaptive livelihoods project to benefit 150
households, 600 student scholarship recipients. and 3,150 climate-literate young participants
through localised environmenlal education.
Our flagship Special Needs Education Programme continues to grow. In 2024, we conducted
2,656 direct therapy and education sessions. supporting children with autism, Attention Deficit
Hyperactivity Disorder (ADHD), mobility challenges. and other neurodevelopmental differences.
saigonchildren
Salgon Children's Charity CIO
R&Jistered charily numr￿rs..
UK 115TT741 VN 6WCNV-VPE)D WWW saw￿.hI￿￿re￿ coffl
+84 28 3930 3S)2
59 Tran al￿ Th￿, Di51.3, HCMC. VN

With intervention starting early, we are seeing transformative outcomes. Each child's potential is
supported by a network of trained teachers, practitioners and parents, a model now being
replicated in even more provinces.
We are also enhancing national capacity by delivering resource development, training specialists,
and empowering families. Saigonchildren's approach ensures that inclusion increases even
further across Vietnam, giving more children the opportunity for a fulfilling life.
Our ongoing commitment to children orphaned by the COVID-19 pandemic remains firm. Of 268
children originally supported, the majority have transitioned into stable arrangements. 43
children continue to receive our backing to ensure their long-term security and academic success.
Saigonchildren always works to disburse our income as quickly as possible so that our donors
can be confident that their contributions are soon providing tangible help for children.
Our cash resenies remain stable and are enough to meet our scholarship liabilities for six months
in case of serious unforeseen operational issues, in line with our strategy.
PUBLIC BENEFIT
The Trustees recognise and adhere to the guidan￿ of the Charty Commission on public benefit.
Saigonchildren's model is rooted in thelocal empowerment of children, families, and
communities, ensuring that provided support fosters tangible improvements in well-being while
upholding dignity, capacity, and agency.
OBJECTIVES OF SAIGONCHILDREN
Saigonchildren helps those children and young people in the most difficult circumstances to
receive an education. Over 32 years of working in Vietnam. education has proven to be the most
effective and sustainable way we can help children and their families to escape from the cycle of
povety and contribute to the conlinued growth and development of Vietnam.
OUR FOUR PROGRAMMES:
SCHOOL BUILDING AND LEARNING ENVIRONMENT PROGRAMME
Saigonchildren builds safe, welcoming schools in rural areas, often where existing buildings are
unsafe or unsuitable, especially in ethnic minorty communities. Funded by private donors and
with significant government support. these schools are publicly owned and run.
Beyond classrooms, we provide clean toilets, libraries. playgrounds, and learning tools to create
a richer, more supportive environment for students. Through these schools and our deep
community ties, we also promote crucial topics like sustainability, health, indusion, and
environmental protection.
saigonchildren Salgon Chlldr•n's Charlty CIO
59 Trona￿ Th￿, Di51.3, HCMC, VN
Regislerwj chan.ty nwntsrs".
UK 11577741 VN 6NCNV_VPEID viwW.saw￿h&J"reTr c(¥n
+84 28 3930 3502
mowryj bar￿$t0*￿j¢8ts

sin￿ the first saigonchildren school was built in 1993, 621 classrooms have opened doors to
brighter futures for around 25.200 disadvantaged children. from Tra Vinh on Vietnam's southern
coast to Tuyen Quang close to the northern border nearly 2.OOOkm away.
In 2024 we built and renovated 16 classrooms in the provinces of Hau Giang, An Giang and Tra
Vinh, Ho Chi Minh, Dong Nai providing access to enhan￿d learning facilities to 641 children,
helping them to be safe and happy at school.
We equipped 4 computer rooms which enhance digital literacy for 1,430 children in a primary,
secondary and charity school.
We buitt 2 hygiene facilities to provide clean condition to protect the health of 791 children during
their time at school.
We equipped one library and one reading corner which provide child-friendly space to promote
reading habits for 1,379 children of two primary schools.
Last but not least, we provided emergency support to 250 children of 4 kindergartens in Tuyen
Quang which helped them overcome the devastation caused by Typhoon Yagi.
CHILD DEVELOPMEKf SCHOLARSHIP PROGRAMME
Our Child Development Scholarship Programme breaks down barriers to education by providing
comprehensive support including schoo5 fees, social care, books, uniforms, rice, and
stationery to disadvantaged children from primary school through university.
We take a holistic, community-based approach, working closely with families, teachers, and local
leaders to help children stay in school.
Our dedicated social care team carefully assesses each child's situation through home visits,
ensuring support goes to those who need it most. Scholarships are awarded not for top grades,
but to students who are determined to learn despite serious financial hardship.
In school year 2023-2024, we were able to:
Provide 1.844 scholarships to disadvantaged children and young adults in seven
provinces of Vietnam.
Visit 836 children either at their homes to learn about their lives, their leaming situation,
and to show the care of saigonchildren.
Provide urgent support to 50 children.
Provide 76 bicycles to children who live more than 3km from school to shorten their daily
journey.
Organise 29 life skills training sessions on protection against child abuse, safe internet,
career orientation, time management, financial management, communication, emotional
management and health care" for 1,098 students for both school and post-high school
levels.
Organise several events such as Tet festival, study tour, camp, mid-autumn festival for
770 school and post high school students.
saigonchildren Salgon Children's Charity CIO
59 Tran Th￿), Disl.3. HCMC. VN
Registered charity nwnlws:
UK 115TT141 VN 631CW.VPE)D TPMW Sa￿￿)￿h￿ren com
+84 28 3930 3502

Organise eye checks for 644 students and teachers.
Provide 318 pairs of glasses for students and teachers.
Organise training on mental health for 500 teachers of primary and secondary schools
and for 1,710 students of primary and secondary schools.
Implement a project on Enhancing community-bas8d climate change adaptive livelihood
Gapacity which provided loans lo 50 households, scholarships to 200 children, training on
environment protection to 1,039 students, training on financial management, on
reproductive health to more than 100 local farmers.
GErriNG READY FOR WORK PROGRAMIIIE
Our Getting Ready for Work Programme gives young adults in difficult circumstances the
opportunity to learn vocational skills and develop themselves, so they integrate into work and
social life. These young adults complete vocational courses and learn English and life skills to
enhance their employability-
1. Vocational Training and Job Placement:
The Vocational Training and Job Placement project supports disadvantaged young adults
between the ages of 17 and 25. These students learn the knowledge and skills required to secure
job aligned with their interests, capabilities and ambition
whether that is to be a software
developer, an engineer, a beautician or a bartender.
In 2024, 111 young adults took part in this activty; 43 of them completed their training courses
successfully. 38 of those who completed the training course successfully were in jobs with
average income of 262 USDlmonth', the others are following their training courses.
2. Psychosocial Counselling and Life skills
Life skills training on topics such as Communication Skills, Attitudes and Professional
Appearances, Budget Management. and Personal Safety are provided to young adults as a
foundation for their personal and professional life.
In 2024, saigonchildren offered 26 lrfe skills training sessions on 17 topics for 811 participants.
SPECIALS NEEDS EDUCATION PROGRAMME
Saigonchildren supports children with disabilities and helps them to have a better life through
proper education with our Special Needs Education Programme.
We specialise in supporting teaching and learning for children with neurodevelopmental
differences such as autism, ADHD and dyslexia. through communty-based identification and
early intervention. as well as building national capacity through training and the provision of
educational resources in Vietnamese.
saigonchtldren Saigon Chlldr•n's Chwity CIO
59 Tran Quw Thao. Thst.3, HCMC. VN
Registered charity n￿nb8r5."
UK 115TT141 VN 6YCNV-VPOD saiwrKhiklren LL¥n
+84 28 3930 3502
10

We also work with a range of specialist organisations across Vietnam to help children with
disabilities such as cerebral palsy, hearing or vision impairents, congenital conditions associated
with the effects of dioxins (such as Agent Orange), and mobility issues. We provide education &
training and social development aclivities for these children, improve learning facilities, and help
these partners to build their fundraising and communicalions capabilities.
In 2024, 9 special education projects benefitted 1,286 children, parents and teachers.
RISKS AND RESERVES
The biggest operational risk remains unexpected funding loss. However, strong fundraising,
rigorous financial controls, and clear governan￿ structures allow continued confidence in the
resilience and stability of our model.
We maintain a prudent reserves policy to ensure continuity in key areas..
Support for scholarship recipients for up to six months in case of disruption.
An adequate resource for emerging risks or restructuring needs.
Sufficient personnel to appropriately conclude projects and reporting in accordan￿ with
regulatory. ethical and financia5 best practice.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Saigonchildren is established as a Charitable Incorporated Organisation (CIO) and governed by
a Board of Trustees. As of the end of 2024, the Board comprised nine Trustees, the majority of
whom are resident in Vietnam and deeply engaged in the charity's oversight and strategy, meeting
quarterly and receiving monthly updates on finance and perfomance.
The Trustees delegate day-to-day operations lo the Executive Director, who works within an
approved annual strategy and budget. Oversight remains strong. particularly concerning policy
changes, financial issues, major risks, fundraising developments. and people-related matters.
Trustee involvement strengthens strategic planning while ensuring that operations retain the
to respond to the needs of our beneficiary communities and other stakeholders.
VAN PHONG
Al DieN
TAI vI¢T
'n Roberts
cutive Director
Saigon Children's Charity CIO
28 October 2025
saigonchildren Salgon Children's Charlty CIO
59 Tr￿ QU￿ Th&J, Disl.3. HCMC, VN
R￿IStere[j c1￿￿ty nwnters"
UK 115TTT4 | VN 6WCNV.VPE)D vrww.saKyY￿hlk￿reTh c(KrTr
+84 28 3930 3502
rèmoviTvJ barTierSio¢(kn￿l10n

KPMG Limited Branch
10th Floor, Sun Wah Tower
115 Nguyen Hue Street. Ben Nghe Ward
District 1, Ho Chi Minh City, Vietnam
+84 (28) 38219266 | kpmg.com.vn
INDEPENDENT AUDITORS, REPORT
To the Trustees
Saigon Children's Charity CIO
Opinion
We have audited the financial statements of Saigon Children's Charity CIO ('Ihe Organisation'l,
which comprise the balance sheet as at 31 December 2024, the statement of financial activities
and the statement of cash flows for the year then ended, and notes to the financial statements,
including significant accounting policies and other explanatory information as set out on pages 15
to 27.
In our opinion, the accompanying financial statements present fairly, in all material respects, the
financial position of the Organisation as at 31 December 2024, and its financial activities and its
cash flows for the year then ended in accordance with the Statement of Recommended Practice
applicable to charities, Charities SORP (FRS102), and the Charities Act 2011. Charities SORP
(FRS102) is applicable to the accounts of relevant charities for reporting periods beginning on or
after 1 January 2019.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (ISAS). Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the
Audit of the Financial Statements section of our report. We are independent of the Organisation in
accordance with the ethical requirements that are relevant to our audit of the financial statements
in Vietnam, and we have fulfilled our ethical responsibilities in accordance with these requirements.
We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a
basis of our audit opinion.
Other information
The Board of Trustees are responsible for the other information. The other information comprises
the Chairman's Report and Executive Director's Report included on pages 4 to 11, but does not
include the financial statements and our auditors, report thereon.
Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.
12
KPMG Eryh5h caMkwny￿ntta ￿M￿L*r￿ma.

In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other infomiation is materially inconsistent with
the financial statements or our knowledge obtained in the audit, or otherwise appears to be
materially misstated. If, based on the work we have perfomed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to report
in this regard.
Responsibilities of Management and Those charged with Governance for the
Financial Statements
The Board of Trustees is responsible for the preparation and fair presentation of the financial
statements in accordance with the Statement of Recommended Practice applicable to charitles.
Charities SORP {FRS102), and the Charities Act 2011, and for such internal control as the
management determines is necessary to enable the preparation of financial statements that are
free of material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the
Organisation's ability to continue as a going concern, disclosing, as applicable, matters related to
going concern and using the going concern basis of accounting unless management either
intends to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Organisation's financial
reporting process.
Auditors, Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. 'Reasonable assurance, is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the financial statements.
As part of an audit in accordance with ISAS, we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
Identity and assess the risks of material rnisstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override
of internal control.
12,..
11 NF
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Organisation's intemal control.
13

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Organisation's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditors, report to the related disclosures in the financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up
to the date of our auditors, report. However, future events or conditions may cause the
Organisation to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate wilh those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
Ory behalf of KPMG Limited Branch
Vietnamx
Audit Rel>ort ty0.: 25-01-00485-25-1
CONf. TY fN1114
I Piin 11(1 GV,
Tran Thi Le Hang
Practicing Auditor Registration
Certificate No. 3782-2022-007-1
Deputy General Director
Ho Chi Minh City, 28 October 2025
14

Saigon Children's Charity CIO
Statement of financial activities for the year ended 31 December 2024
2024
2024
Unrestricted Restricted
funds
funds
USD
USD
2024
2023
Note
Total
USD
Total
USD
Income
Donations
School building
Child Development
Scholarship Program
Getting Ready for work
Special needs
education Program
COVID-19 Appeal
You are not alone
General donations
Bank interest
Others
258,534
258,534
321,404
894,515
188,851
894,515
188,851
695,763
270,583
209.830
2,685
11,181
209,830
2,685
11,181
136,157
35,002
18,235
186,120
198,528
29,050
80,805
37,100
6,475
136,157
35.002
3,700
14,535
Events and trading activities 3
Exchange differences
82.142
(29,613)
82.142
239,682
(29,613) (18,135)
c(
Total Income
227,388 1,580,131 1,807,519 2,047,375
The accompanying notes are an integral part of these financial statements
15

Saigon Children's Charity CIO
Statement of financial activities for the year ended 31 December 2024
{continued)
2024
2024
Unrestricted Restricted
funds
funds
USD
USD
2024
2023
Note
Total
USD
Total
USD
Expendlture
Chan'table activities..
School building
Child Development
Scholarship Program
Getting Ready for work
Special needs
education Program
COVID-19 Appeal
You are not alone
332,140
332,140
352,495
832,419
222,239
832,419
222,239
579,388
283,245
185,234
2,781
11,301
185,234
2,781
11,301
176,333
176,389
37,533
Cost ol generating funds..
Fund raising
43,813
140,320
184,133
219,921
Governance
3,231
22,285
25,516
26,635
Total expendlture
Net Incomel(expendlture)
before transfers
47,044 1,748,719 1,795,763 1,851,939
180,344 (168,588)
11,756
195,436
Gross transfers
between funds
1168,588) 168,588
Net Income after transfers
11,756
11,756
195,436
The statement was approved and authorised for issue by the Board of Trustees on 28
October 2025 .
Prepared by:
Reviewed by:
ved by..
VAN PH
Al Di¢
TAI VIÉ I
LeLeAnNa
Head of Finan￿ and
Administration
Damien Roberts
Executive Director
Appleton
airman
on behalf of
the Board of Trustees
The accompanying notes a￿ an integral part of these financial statements
16

Saigon Children's Charity CIO
Balance sheet as at 31 December 2024
Note
3111212024 3111212023
USD
USD
Current assets
Accounts receivable
Cash
Held-to-maturity investments
84.068
212,611
970,679 1,054,000
775,502
391,726
10
11
1,830,249 1,658,337
Current Ilabilities
Accrued expenses
Deferred income
12
13
(179.984) (155,067)
(999,655) (864,416)
(1,179,639) (1,019,483)
Net assets
650,610
638,854
Funds
Funds brought forward at the
beginning of the year
Net income for the year
638,854
11,756
443,418
195,436
Funds carrled forward at the end of the year
14
650,610
638,854
The statement was approved and authorised for issue by the Board of Trustees on 28
October 2025.
Prepared by:
Reviewed by:
oved by:
VAN PH
Al
I¢N
TAI vI¢T NA
David
eLeAnNa
Head of Finan￿ and
Administration
Damien Roberts
Executive Director
Appleton
rman
behalf of
the Board of Trust88S
The accompanying notes are an integral part of these financial statements
17

Saigon Children's Charity CIO
Statement of cash flows for the year ended 31 December 2024
(direct method)
Note
2024
USD
2023
USD
CASH FLOWS FROM OPERATING ACTIVITIES
Income
School building
Child Development Scholarship Program
Getting Ready for work
Specia5 needs education Program
COVID-19 appeal
You are not alone
Other activities
325,976
990,379
203,180
309,067
6,078
4,413
260,228
316,443
705,012
265,248
243,881
176.732
6.725
487,543
2,099,321
2,201,584
Expendlture
School building
Child Development Scholarship Program
Getting Ready for work
Special needs education Program
COVID-19 appeal
You are not alone
Other activities
Operating expenses
338,624
849,632
214,103
200,656
2,781
11,301
175,564
2,131
266,605
597,074
301,354
191,366
180,086
39,410
316,948
60,870
1,794,792
1,953,713
Net cash flows from operating actlvltles
304,529
247,871
CASH FLOWS FROM INVESTING ACTIVITIES
Placements of term deposits
Receipts of tem deposits
Receipts of interest
(883,613)
475,861
28,030
(635.327)
616,147
30.518
Net cash flows from investing activitles
(379,722)
11,338
The accompanying notes are an integral part of these financial statements
18

Saigon Children's Charity CIO
Statement of cash flows for the year ended 31 December 2024
(direct method - continued)
Note
2024
USD
2023
USD
Net cash flows during the year
(75.193)
259,209
Cash at beginning of the year
1,054,000
790,759
Effect of exchange rate fluctuations on cash
(8,128}
4,032
Cash at end of the year
10
970,679
1,054,000
The statement was approved and authorised for issue by the Board of Trustees on 28
October 2025.
Prepared by:
Reviewed by:
ved by:
VAN PHON
AI DIÉN
TAI VIET
David
LeLeAnNa
Head of Finance and
Administration
Damien Roberts
Executive Director
ppleton
rman
behalf of
the Board of Trustees
The accompanying notes are an integral part of these financial statements
19

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
These notes form an integral part of and should be read in conjunction with the
accompanying financial statements.
Reporting organisation
The Saigon Children's Charty CIO (Ihe Organisation.) was entered on the Register of
Charities of the Charity Commission of England and Wales on 8 July 2014, with
registered charity number 1157774. The Organization's operation in Vietnam was
authorised by the Organisation's Establishment Decision of Vietnam No. 211CNV-VPDA
issued by the Ministry of Foreign Affairs of Vietnam dated 31 December 2014 and is valid
until 11 April 2018. Its amendment No.631CNV-VPDD was issued by the Ministry of
Foreign Affairs of Vietnam dated 22 June 2023 and is valid until 22 June 2028.
Summary of significant accounting policies
The following significant accounting policies have been adopted by the Organisation in
the preparation of these financial statements.
(a) Basls of financial ststements preparation
The accounting policies are in accordance with the Statement of Recommended Practice
applicable to charities, Charities SORP (FRS102), and the Charities Act 2011. Charities
SORP (FRS102) is applicable to the accounts of relevant charities for reporting periods
beginning on or after 1 January 2015.
The financial statements, ex￿p1 for the statement of cash flows. are prepared on the
accrual basis using the historical cost concept. The statement of cash flows is prepared
using the direct method.
The Organisation's accounting currency is United States Dollars {'USD"), which is also
the currency used for financial statement presentation purpose.
{b) Forelgn currency transactions
Monetary assets and liabilities denominated in currencies other than USD are translated
into USD at rates of exchange ruling at the balance sheet date. Transactions in
currencies other than USD during the year have been translated into USD at rates of
exchange ruling at the transaction dates.
All foreign exchange differences are recorded in the statement of financial activities.
(c) Cash
Cash comprises cash balan￿S and call deposits.
20

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
(d) Held-to-maturity investments
Held-to-maturity investments are those that the Organisation has the intention and ability
to hold until maturity. Held-to-maturity investments included term deposits at banks,
which are stated at cost.
{e) Accounts receivable
Accounts receivable are stated at cost less allowance for doubtful debts.
(fj Trade payables
Trade payables are stated at their cost.
(g) Income
Unrestricted funds are available for use at the discretion of the Organisation's Trustees
in furtherance of the charitable objectives of the Organisation. Restricted funds are
subject to specffic restrictions imposed by donors or by the purpose of the appeal.
Income is recognised when earned by the Organisation and there are no significant
uncertainties regarding the consideration due.
Unrestricted fund income is earned when donors are committed to the donation if there
are no significant uncertainties regarding the consideration due, or when the donation is
re￿ived.
Restricted fund income is earned (i) when donors are committed to the donation if there
are no significant uncertainties regarding the consideration due, or when the donation is
received; and (li) when activities for which the fund is donated are started or time prorated
in case of Child Development Scholarship Program (formerly known as scholarships).
3. Events and trading activities
2024
2024
Unrestricted Restricted
funds
funds
USD
USD
2024
2023
Totsl
USD
Totsl
USD
Charity Cycle Adventure
Cards, calendars and T-shirts
Summer Ball events
Others
52.412
6.132
52,412
6.132
78,068
20,709
117,053
23,852
23,598
23,598
82,142
82,142 239,682
21

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
4. Fund raising
2024
2024
Unrestricted Restricted
funds
funds
USD
USD
2024
2023
Total
USD
Total
USD
staff costs
Support costs
Exhibition
Powerful
Cards, calendars and T-shirts
Overseas
Charity Cycle Adventure
Events for donors
Summer Ball events
Others
18,465
1,728
5,010
4,455
3,515
2,406
800
399
78
6,957
128,316
12,004
146,781
13,732
5,010
4,455
3,515
2,406
800
399
78
6,957
154,061
13,645
4,385
2,411
3,080
34,111
8.228
43.813
140,320
184.133
219,921
5. Governance
2024
2024
Unrestrlcted Restrlcted
funds
funds
USD
USD
2024
2023
Total
USD
Total
USD
Staff costs
Rent and utilities
Office expenses
Travelling expenses
Bank charges
Others
1,452
764
311
24
266
414
10,017
5,269
2,144
168
1,834
2,853
11,469
6,033
2,455
192
2,100
3,267
10,816
6,023
3,648
412
2,680
3,056
3.231
22,285
25,516
26,635
Trustee remuneration and expenses
The organisation's Trustees are nol remunerated and do not usually claim expenses for
attending meetings or for fulfilling their duties as Trustees. Expenses may be paid up to
On￿ per year for our UK Trustee to visit our projects in Wietnam and attend our annual
strategy and budget meeting.
22

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
6. Allocation and apportionment of support costs
Support costs are apportioned to the key activity areas at Charitable Activities, Cost of
generating funds, and Governance each year in appropriate ratios, which are in
accordan￿ with the Policy of Apportionment of Support Costs, reviewed and approved
annually by the Trustees.
The breakdown of support costs incurred in year. and how they were allocated between
Charitable Activities, Cost of generating funds. and Governance are shown in the table
below:
Cost of
Charitable generatlng
activitles
funds
USD
USD
Basls of
apportionment
Cost type
Governance Total
USD
USD
2024
Staff costs
Rent and utilities
Office expenses
Travelling expenses
Bank charges
Others
202,910
12,731
5,179
404
4,432
6,895
45,875
5,898
2,400
187
2.053
3.194
11,469 260,254
6,033 24,662
2,455 10,034
192
783
2,100
8,585
3,267 13,356
**
**
232,551
59,607
25.516 317,674
Cost of
Charitsble generating
activitles
funds
USD
USD
Basis of
apportlonment
Cost type
Governance Total
USD
USD
2023
staff costs
Rent and utilities
Office expenses
Travelling expenses
Bank charges
Others
191,511
14,245
8,629
974
6,339
7,227
43.265
5,195
3,148
355
2.312
2.635
10,816 245,592
6,023 25,463
3,648
15,425
412
1,741
2,680 11,331
3.056 12,918
**
**
*•
228,925
56,910
26,635 312,470
(') Staff time charges.
(") Average equivalent key number of people employed within each activity.
23

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
7. Staff numbers
The average number of persons employed calculated on full-lime equivalent basis
analysed by activity was:
Average number
2024
2023
Director
Charitable activities
Fundraising
Finance, Admin, HR, IT
15
16
31
31
8. Staff costs
2024
USD
2023
USD
Salaries, wages and benefrts
Insurance
Others
406,208
113,641
12,133
400,377
99,286
13,806
531,982
513,469
The number of employees whose emoluments (salaries and benefrts) fell with the
following bands:
Number of employees
2024
2023
USD100,000- 110,000
9. Accounts receivable
3111212024 3111212023
USD
USD
Donation re￿1VableS
Interest re￿1vable
Others
55,971
22.963
5,134
193,612
15,990
3,009
84,068
212,611
24

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
10. Cash
3111212024 3111212023
USD
USD
Cash on hand
Cash in banks
6,481
7,411
964.198 1,046,589
970,679 1.054,000
11. Held-to-maturity investments
Held-to-maturity investments represent term deposits in banks with original maturity of
more than three months and not greater than twelve months from their placement dates.
The term deposits are denominated in VND and earned interest ranging from 3.5 % to
5.1 % (2023.. 5.0% to 8.1 %) per annum during the year.
12. Accrued expenses
3111212024 3111212023
USD
USD
School building
Bonus and 13" salary
Others
114,057
64,467
1,460
115,185
39,882
179,984
155,067
25

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
13. Deferred income
3111212024 3111212023
USD
USD
Current liabilities
Unrestricted donatlons
28.721
23,788
Restrlcted donations:
School building (a)
Child Development Scholarship Program (b)
Getting Ready for work (b)
Special needs education Program (b)
COVID-19 Appeal
You are not alone
132,883
489,819
81,408
266,824
125,282
448,392
74,160
175,007
2,778
15,009
999,655
864,416
(a) Deferred income for School Building related to money re￿iVed for particular School
Building projects which had not been started by the end of 2024 and are expected to be
built during 2025.
(b) Deferred income related to donations for Child Developmenl Scholarship Program.
Getting Ready for work, Special Needs education Program re￿iVed but for 2025
onwards.
Movements in the deferred income during the year were as follows..
USD
Opening balance
Increase in deferred income during the year
Deferred income realised during the year
864,416
1,448.570
(1,313,331)
Closing balan
999,655
26

Saigon Children's Charity CIO
Notes to the financial statements for the year ended 31 December 2024
(continued)
14. Funds
Unrestrlcted Restricted
funds
funds
USD
USD
Total
USD
Income
Expenditure
227,388 1.580,131
1,807,519
(47,044) (1,748,719) (1,795,763)
Net incomel(expenditure) before Iransfers
Gross transfers between funds (")
180,344
(168,588)
168,588
11,756
(168,588)
Net expenditure after transfers
Total funds brought fopNard
at 1 January 2024
11.756
11,756
638.854
638,854
Total funds carried forward
at 31 December 2024
650,610
650,610
(') Gross transfers between funds, amount was approved annually at year-end by the
Organisation's Trustees to balance the deficit of restricted funds as at 31 December.
15. Commitments
Leases
The future minimum lease payments under non-cancellable operating leases were:
3111212024 3111212023
USD
USD
IH
Within one year
Within two to five years
24,188
117,607
15,341
877
141,795
16,218
27