1
THE T.E.A PROJECT FINANCIAL STATEMENTS YEAR ENDED 31[st] DECEMBER 2023
Rahul Nagalingam Finance Officer 05/02/2024
The T.E.A. Project
Financial Statements 2023
Table of Contents
Notes to the Financial Statements.................................................................. 3 The T.E.A. Project Statement of Profit or Loss ................................................ 5 The T.E.A. Project Statement of Financial Position .......................................... 6 The T.E.A. Project Statements of Cash Flows .................................................. 7 Notes to the Financial Statements .................................................................. 8 Income and Expenses Qaurterly wise of the Year 2023 ................................ 13 Appendix 01 .................................................................................................. 16
Financial Statements 2023
The T.E.A. Project
3
The T.E.A. Project Notes to the Financial Statements
1. GENERAL
1.1 REPORTING ENTITY
1.1.1 Corporate Information
The T.E.A.Project (“the Organization ) is a Registered Charitable incorporated Organization in United Kingdom in 2018 and Registered INGO in Sri Lanka. The registered office of the
organization is at No.3 Pendlebrook, Lancashire, BB7 1GY United Kingdom and No.94/4, Galkanda Road, Aniwatta in Kandy. The Organization has been registered with the District Secretariat Kandy
1.1.2 Principal Activities and Nature of Operations
The principal activities of the Organization comprised of training, empowerment and awareness the children. The Principal activities of the organization in the year under review is advance personnel skills and abilities of vulnerable children by providing training and workshops
1.2 BASIS OF PREPARATION
1.2.1 Statement of compliance
The Financial Statements of the Company have been prepared in accordance with Sri Lanka Accounting Standards (SLFRSs and LKASs) promulgated by the Institute of Chartered Accountants of Sri Lanka (ICASL) and comply with the requirements of the Companies Act, No. 7 of 2007, and amendments there to.
1.2.2 FUNCTIONAL AND PRESENTATION CURRENCY
Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (the functional currency). These financial statements are presented in Sri Lankan Rupees, the Company’s functional and
presentation currency. There was no change in the company’s presentation and functional currency during the year under review. All financial information has been rounded to the nearest Rupee unless otherwise specifically indicated.
Financial Statements 2023
The T.E.A. Project
4
2. SIGNIFICANT ACCOUNTING POLICIES
2.1 Depreciation
Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset.
The estimated useful lives for the current year are as follows:
Motor vehicles 5 Years Computers and Printers 5Years Buildings 20 Years Tools and Equipment 5Years Furniture and Fittings 5Years
Depreciation methods, useful lives and residual values are reassessed at each reporting date and a
2.2 Foreign currency transactions
Sri Lankan rupee is the functional currency of the Organization. Transactions in foreign currencies are translated into the functional currency of the Company at the spot exchange rates at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the closing exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency translated at the spot exchange rate at the end of the year.
Non-monetary assets and liabilities that are measured at fair value in a foreign currency are translated to the functional currency at the spot exchange rate at the date that the fair value was determined. Non-monetary items that are measured based on historical cost in a foreign currency are translated using the spot exchange rate at the date of the transaction. Foreign currency differences arising on retranslation are generally recognized in profit or loss.
Financial Statements 2023
The T.E.A. Project
5
The T.E.A. Project Statement of Profit or
Loss
| The T.E.A. Project Statement of Profit or Loss |
The T.E.A. Project Statement of Profit or Loss |
The T.E.A. Project Statement of Profit or Loss |
|
|---|---|---|---|
| Year Ended 31st December 2023 | |||
| Notes | Sept Rs 2,895,304.81 8,019,903.98 412,346.73 11,327,555.52 5,962,347.06 362,333.42 1,212,399.18 753,206.15 140,208.00 9,422.00 259,420.00 83,267.84 512.68 58,000.00 2,878,769.27 8,841,116.33 2,486,439.19 |
Sept GBP |
|
| Income Foreign Donations 3 Local Donations 4 Other Income 5 Total Income EXPENSES Administration and Establishment 6 Pre School 7 Food Programme 8 T.E.A.Center 9 Training and Empowerment Programme 10 Saturday Service 11 Volunteer Programme 12 Financial Expenses 13 Income tax 20 Professional Fees 21 TOTAL PROJECT EXPENSES TOTAL EXPENSES NET SURPLUS/ (DEFICIT) |
7,107.11 19,686.46 1,012.19 |
||
| 27,805.76 | |||
| 14,635.78 - 889.42 2,976.08 1,848.90 344.17 23.13 636.80 204.40 |
|||
| 6,922.89 | |||
21,558.66 |
|||
| 6,247.09 | |||
Financial Statements 2023
The T.E.A. Project
6
The T.E.A. Project Statement of Financial Position
As at 31st December 2023
| As at 31st December 2023 | ||
|---|---|---|
| Notes | RS 8,553,957.20 - |
GBP |
| Assets Non-Current Assets Property Plant & Equipment 14 Long-Term Pledges Receivable 15 Subtotal Long-Term Assets Intangible Assets Investments (FD) 16 Current Assets Inventories 17 Account Receivables Gov't Grants and Contracts Receivables 18 Grant Receivable Pledges Receivable Cash and Cash Equivalents 19 Investments Prepaid Expenses Subtotal Current Assets Total Assets Equity & Liabilities Liabilities Current Liabilities Account Payable Notes (Loans) Payables Unearned Revenue EPF Payable ETF Payable Audit Fee Subtotal Current Liabilities Long-Term Liabilities Mortgage Payable Long-Term Loan Subtotal Long-Term Liabilities Total Liabilities Equity Net Assets Beginning of year Change in Net Assets Net Assets Total Equity and Liabilities |
20,997.40 - |
|
| 8,553,957.20 | 20,997.40 | |
| - - - 7,436,343.59 - - |
- - - - - - 18,254.00 - - |
|
| 7,436,343.59 | 18,254.00 | |
| 15,990,300.79 - - 30,400.00 52,485.00 (15,400.00) |
39,251.40 | |
| - - - 74.62 128.83 (37.80) |
||
| 67,485.00 | 165.66 | |
| - - |
- - |
|
| - | - | |
| 67,485.00 13,436,376.60 2,486,439.19 |
165.66 | |
| 32,982.28 6,103.46 |
||
| 15,922,815.79 | 39,085.74 | |
| 15,990,300.79 | 39,251.40 |
Financial Statements 2023
The T.E.A. Project
7
The T.E.A. Project Statements of Cash Flows
For the Year Ended 31st December 2023
| 2023 Rs |
2023 GBP |
||
|---|---|---|---|
| CASH FLOW FROM OPERATING ACTIVITIES Cash Receipt from Local Donors Cash Receipt from Foreign Donors Payments to the Suppliers Payment to Employees Increase of Accounts Payable Net Cash Flow from Operating Activities CASH FLOW FROM INVESTMENT ACTIVITIES Additions to the Property Plant and Equipment Net Cash Flow from Investment Activities CASH FLOW FROM FINANCE ACTIVITIES Interest Income Interest Expenses and Bank Charges Net Cash Flow from Finance Activities Net increase or decrease in cash and cash equivalents Cash and Cash Equivalent at the Begining of the Year Cash and Cash Equivalent at the End of the Year |
8,019,903.98 2,895,304.81 (11,808,275.59) (4,167,748.00) 50,225.00 (5,010,589.80) - 412,346.73 (83,267.84) 329,078.89 (4,681,510.91) 6,730,573.14 7,436,343.59 |
- - - 19,686.46 7,107.11 (28,985.78) (10,230.57) 123.29 |
|
| (12,299.50) - - - - - |
|||
| - - - - 1,012.19 (204.40) |
|||
| 807.79 - (11,491.71) 16,521.54 |
|||
| 18,432.83 |
Financial Statements 2023
The T.E.A. Project
8
The T.E.A. Project
Notes to the Financial Statements
Year Ended 31st December 2023
| Year Ended 31st December 2023 | ||||
|---|---|---|---|---|
| Dec Rs 44,679 1,747,011 486,493 40,709 32,914 - - 203,778 35,211 120,418 - 134,272 49,820 2,895,305 5,000,000 - 1,644,000 72,700 183,260 29,610 668,084 422,250 8,019,904 422,617 (10,270) 412,347 |
Dec GBP |
|||
| Note 03 Foreign Donations FP Forrester FP Givey Stripe Payments FP MERRY HENRY EVENTS Wheatshe FP Racheal and Carl D Ellis FP TEA MARCHANT MARCHANT K FP Tea Project K Storebo Kate Merchant Pay Pal FP Smaya Soul Decemble Alice FP STMHALL SHAZIA TARANNUM S FP Julienne James J L FP Donation Haines Leonie Other Donations |
109.67 4,288.39 1,194.19 99.93 80.79 - - 500.21 86.43 295.59 - 329.60 122.29 |
|||
| 7,107 | ||||
| Note 04 Local Donations Hiradramani International Expor Peter Simon Ewen Volunteer Accommodation Raffle Draw Fund Raising Event Till Box Collection Other Donation Donations -Other Note 05 Other Income Interest Income Exchange Gain/ (Loss) |
12,273.50 - 4,035.53 178.46 449.85 72.68 1,639.95 1,036.50 |
|||
| 19,686 | ||||
| 1,037.40 (25.21) 1,012 |
||||
Note: This Exchange loss arises due to highly fluctuations of GBP vs LKS. But this loss does not realise untill GBP converts in to Sri Lankan Rupees
Financial Statements 2023
The T.E.A. Project
9
The T.E.A. Project
Notes to the Financial Statements Year Ended 31st December 2023
| The T.E.A. Project Notes to the Financial Statements Year Ended 31st December 2023 |
|||
|---|---|---|---|
| Dec Rs - 137,898 59,878 274,000 36,540 20,450 40,554 42,105 122,953 10,770 8,600 135,836 4,180 145,617 89,620 1,100 3,500 3,252,190 393,392 204,499 87,119 94,120 797,427 5,962,347 33,463 24,250 - - 82,770 - 198,320 4,500 8,430 600 10,000 362,333 |
Dec GBP |
||
| Note 06 Administration and Establishment Advertising & Promotion Donations Electricity EPF 12% ETF 3% Fundraising Bills Membership Fee Special Events Food and Beverages Tools & Equipment’s License and Insurance Office Maintenance Software Training and Development Postage and Delivery other Salaries Stationery Travelling Telephone and Internet Tea Scooter Maintenance Asset Depreciation Total Office Expense Note 07 Pre School Stationary Training and Development Teachers Allowances Workshop Materials Special Events Telephone Foods for Kids Travelling Donation Teaching Materials Events and Ceremonies |
- 338.50 146.98 672.59 89.69 50.20 99.55 103.36 301.81 26.44 21.11 333.44 10.26 357.45 219.99 2.70 8.59 7,983.15 965.66 501.98 213.85 231.04 1,957.44 |
||
14,636 |
|||
82.14 59.53 - - 203.18 - 486.82 11.05 20.69 1.47 24.55 |
|||
| 889.42 | |||
Financial Statements 2023
The T.E.A. Project
10
Note 08
| Food Programme Food Stuff Cleaning and Maintenance Gas and Others Tools and Equipment Travelling Wages Note 09 T.E.A.Center Center Maintenance Food and Beverages Electricity Salaries Transport Charges Donations EPF 12% ETF 3% Telephone Tools and Equipment’s Stationary Travelling Expenses Fuel and Parking Others Wages Note 10 Training and Empowerment Programm Food and Beverages Special Events and Programme Workshop Material Tools & Equipments Tutor Payment Stationary Travelling Note 11 Saturday Service Travel Food and Beverages 1,083,110 3,750 30,850 10,439 29,750 54,500 1,212,399 142,590 9,115 21,429 - 343,077 - - - - 17,475 - 62,772 35,590 53,258 67,900 753,206 34,773 2,776 - 12,800 32,000 43,709 14,150 140,208 1,777 7,645 9,422 |
2,658.71 9.21 75.73 25.62 73.03 133.78 |
|---|---|
| 2,976.08 | |
| 350.02 22.37 52.60 - 842.15 - - - - 42.90 - 154.09 87.36 130.73 166.67 |
|
| 1,848.90 | |
| 85.36 6.81 - 31.42 78.55 107.29 34.73 |
|
| 344.17 | |
| 4.36 18.77 |
|
| 23.13 | |
Financial Statements 2023
The T.E.A. Project
11
| Local Expenses Foods and Beverages Note 13 Financial Expenses Local Bank Charges UK Bank Charge Note 18 Account Receivable Note 19 Cash and Cash Equivalent Cash in Hand Petty Cash Com bank -Saving Account Com Bank - Current Account Money MKT Account CAF Account Total Note 20 Income tax Note 21 Professional fees Note 12 Volunteer Programme Allowance |
- 520 259,420 22,508 60,759 83,268 - - - 1,969.12 1,093,217.25 1,083,769.22 3,093.73 5,254,294.27 7,436,343.59 512.68 58000 |
- 1.28 636.80 55.25 149.15 204.40 - 4.83 2,683.52 2,660.33 7.59 13,076.55 18,432.83 1.26 142.37 |
|---|---|---|
Financial Statements 2023
The T.E.A. Project
12
The T.E.A. Project Notes to the Financial Statements for the Year Ended 31st December 2023
Property Plant & Equipment
| Note 14 | |
|---|---|
| Fixed Assets | Leased Land & Building Motor Vehicle Computers & Printers Furniture & Fixtures Tools & Equipment Total |
| Balance as at Beginning Additions/(Disposals) Disposal Revaluation Balance as at Closing ACCUMULATED DEPRECIATION Balance as at Beginning Depreciation for the year Disposal Assets Dep. Balance as at Closing Net Assets as at end of month In GBP |
7,998,710 479,250 348,218 429,990 526,316 9,782,484 814,730 - - - - - 814,730 - - - - - - - - - - - - |
| 8,813,440 479,250 348,218 429,990 526,316 10,597,214 |
|
| 642,603 76,700 270,492 93,411 162,624 1,245,830 440,672 95,850 69,644 85,998 105,263 - 797,427 - - - - - - |
|
| 1,083,275 172,550 340,136 179,409 267,887 2,043,257 |
|
| 7,730,165 306,700 8,082 250,581 258,429 8,553,957 |
|
| 18,975.24 752.86 19.84 615.10 634.37 20,997.40 |
| Assets | Depreciation Rate |
|---|---|
| Leased Land & Building | 5% |
| Motor Vehicle | 20% |
| Computers & Printers | 20% |
| Furniture & Fixtures | 20% |
| Tools & Equipment | 20% |
When calculating the depreciation for the organization's Fixed Assets, the practice is to calculate depreciation for the whole year whenever the assets are brought. If the assets were sold, there is no depreciation for that year in that sold Assets for the whole year.
Financial Statements 2023
The T.E.A. Project
13
Income and Expenses Quarterly wise of the Year 2023
| Ordinary Income/Expense | Q - 1 | Q - 2 | Q - 3 | Q - 4 | Cumulative |
|---|---|---|---|---|---|
| Income | |||||
| Local Donation | |||||
| Hiradramani International Expor | 2,500,000.00 | 2,500,000.00 | 5,000,000.00 | ||
| Peter Simon | - | ||||
| NTT | 105,000.00 | 539,000.00 | 1,000,000.00 | 1,644,000.00 | |
| Volunteer Accommodation | 72,700.00 | 72,700.00 | |||
| Raffle Draw Fund Raising Event | 118,500.00 | 64,760.00 | 183,260.00 | ||
| Till Box Collection | 29,610.00 | 29,610.00 | |||
| Other Donation | 294,061.08 | 17,580.00 | 286,442.90 | 70,000.00 | 668,083.98 |
| Donations -Other | 376,000.00 | 21,250.00 | 25,000.00 | 422,250.00 | |
| Total Donations Local | 3,318,171.08 | 2,643,830.00 | 898,142.90 | 1,159,760.00 | 8,019,903.98 |
| Investment Income | |||||
| Interest Income | 302,103.69 | 13,346.14 | 20,123.64 | 87,043.48 | 422,616.95 |
| Total Investment Income | 422,616.95 | ||||
| UK Donations | |||||
| FP Forrester | 12,701.33 | 7,774.83 | 12,347.60 | 11,855.30 | 44,679.06 |
| FP Givey Stripe Payments | 3,819.70 | 305,930.49 | 1,207,111.49 | 230,149.61 | 1,747,011.29 |
| FP MERRY HENRY EVENTS Wheatshe | 128,561.51 | 116,184.50 | 123,310.00 | 118,437.00 | 486,493.01 |
| FP Racheal and Carl D Ellis | 12,832.76 | 7,637.90 | 12,176.20 | 8,062.00 | 40,708.86 |
| FP TEA MARCHANT MARCHANT K | 12,791.49 | 7,774.83 | 12,347.60 | 32,913.92 | |
| FP Tea Project K Storebo | - | ||||
| Kate Merchant | - | ||||
| L. Norde | 203,778.00 | 203,778.00 | |||
| FP Smaya Soul Decemble Alice | 8,643.76 | 11,927.13 | 4,870.00 | 9,769.75 | 35,210.64 |
| FP STMHALL SHAZIA TARANNUM S | 53,852.52 | 66,565.71 | 120,418.23 | ||
| FP Julienne James J L | - | ||||
| FP Donation Haines Leonie | 134,271.99 | 134,271.99 | |||
| Other Donations | 7,358.66 | 30,606.75 | 11,854.40 | 49,819.81 | |
| Total UK Donations | 374,833.72 | 523,795.39 | 1,402,769.64 | 593,906.06 | 2,895,304.81 |
| Total Income | 3,995,108.49 | 3,180,971.53 | 2,321,036.18 | 1,840,709.54 | 11,337,825.74 |
| Expense | |||||
| Center Expenses | |||||
| Center Maintenance | 117,000.00 | 25,590.00 | 142,590.00 | ||
| Food and Beverages | 2,165.00 | 6,950.00 | 9,115.00 | ||
| Electricity | 13,614.39 | 7,814.35 | 21,428.74 | ||
| Salaries | - | ||||
| Transport Charges | 343,077.09 | 343,077.09 |
Financial Statements 2023
The T.E.A. Project
14
| Donations | - | ||||
|---|---|---|---|---|---|
| EPF 12% | - | ||||
| ETF 3% | - | ||||
| Telephone | - | ||||
| Tools and Equipment’s | 3,505.00 | 780.00 | 7,390.00 | 5,800.00 | 17,475.00 |
| Stationary | - | ||||
| Travelling Expenses | 56,922.12 | 2,900.00 | 2,100.00 | 850.00 | 62,772.12 |
| Fuel and Parking | 13,150.00 | 9,950.00 | 12,490.00 | 35,590.00 | |
| Others | 51,093.20 | 2,165.00 | 53,258.20 | ||
| Wages | 19,000.00 | 27,100.00 | 6,000.00 | 15,800.00 | 67,900.00 |
| Total Center Expenses | 552,654.21 | 107,602.59 | 37,959.35 | 54,990.00 | 753,206.15 |
| Financial Expenses | |||||
| Local Bank Charges | 6,858.30 | 6,671.19 | 3,838.94 | 5,140.00 | 22,508.43 |
| UK Bank Charges | 35,251.38 | 13,255.23 | 6,150.80 | 6,102.00 | 60,759.41 |
| Total Financial Expenses | 42,109.68 | 19,926.42 | 9,989.74 | 11,242.00 | 83,267.84 |
| Food Programme | |||||
| Food Stuff | 263,746.00 | 320,985.00 | 218,164.58 | 280,214.60 | 1,083,110.18 |
| Cleaning and Maintenance | 3,750.00 | 3,750.00 | |||
| Dry Rations | - | ||||
| Gas and Others | 9,850.00 | 7,500.00 | 6,200.00 | 7,300.00 | 30,850.00 |
| Tools and Equipment | 8,749.00 | 1,190.00 | 500.00 | 10,439.00 | |
| Travelling | 8,500.00 | 9,150.00 | 12,100.00 | 29,750.00 | |
| Wages | 5,000.00 | 13,000.00 | 36,500.00 | 54,500.00 | |
| Total Food Programme | 273,596.00 | 350,734.00 | 247,704.58 | 340,364.60 | 1,212,399.18 |
| Income Tax | 512.68 | 512.68 | |||
| Office Expense | |||||
| Advertising & Promotion | - | ||||
| Donations | 18,498.00 | 30,400.00 | 26,000.00 | 63,000.00 | 137,898.00 |
| Electricity | 10,888.00 | 13,620.52 | 5,209.57 | 30,159.43 | 59,877.52 |
| EPF 12% | 85,200.00 | 85,200.00 | 46,800.00 | 56,800.00 | 274,000.00 |
| ETF 3% | 12,780.00 | 12,780.00 | 7,020.00 | 3,960.00 | 36,540.00 |
| Fundraising | 20,450.00 | 20,450.00 | |||
| Consumable | |||||
| Bills | 6,570.00 | 8,890.00 | 17,053.86 | 8,040.00 | 40,553.86 |
| Membership Fee | 42,105.00 | 42,105.00 | |||
| Special Events | 1,950.00 | 35,000.00 | 21,247.98 | 64,755.00 | 122,952.98 |
| Food and Beverages | 2,770.00 | 4,100.00 | 3,900.00 | 10,770.00 | |
| Tools & Equipment’s | 3,450.00 | 5,150.00 | 8,600.00 | ||
| License and Insurance | 1,950.00 | 123,648.00 | 10,238.31 | 135,836.31 | |
| Office Maintenance | 4,180.00 | 4,180.00 | |||
| Safety and Medical | - | ||||
| Software | 145,617.17 | 145,617.17 | |||
| Training and Development | 21,890.00 | 57,850.00 | 9,880.00 | 89,620.00 | |
| Postage and Delivery | 1,100.00 | 1,100.00 | |||
| Information Technology | - | ||||
| Salaries | 580,355.00 | 874,545.00 | 852,795.00 | 944,495.00 | 3,252,190.00 |
Financial Statements 2023
The T.E.A. Project
15
| Stationery | 355,429.31 | 17,923.44 | 11,289.00 | 8,750.00 | 393,391.75 |
|---|---|---|---|---|---|
| Travelling | 44,646.08 | 59,426.60 | 48,449.53 | 51,977.00 | 204,499.21 |
| Telephone and Internet | 31,630.00 | 18,111.48 | 17,811.48 | 19,565.83 | 87,118.79 |
| FA Depreciation for the Month | - | ||||
| other | 3,500.00 | 3,500.00 | |||
| Tea Scooter Maintenance | 22,180.00 | 40,234.67 | 31,705.00 | 94,119.67 | |
| Total Office Expense | 1,220,401.39 | 1,346,869.71 | 1,115,426.42 | 1,482,222.74 | 5,164,920.26 |
| Professional fees | 58,000.00 | 58,000.00 | |||
| Pre School Expense | |||||
| Stationary | 28,039.00 | 1,535.00 | 1,294.00 | 2,595.00 | 33,463.00 |
| Training and Development | 5,250.00 | 15,000.00 | 4,000.00 | 24,250.00 | |
| Teachers Allowances | - | ||||
| Workshop Materials | - | ||||
| Special Events | 3,435.00 | 14,240.00 | 25,460.00 | 39,635.42 | 82,770.42 |
| Telephone | - | ||||
| Foods for Kids | 99,220.00 | 41,070.00 | 52,110.00 | 5,920.00 | 198,320.00 |
| Travelling | 1,500.00 | 3,000.00 | 4,500.00 | ||
| Donation | 8,430.00 | 8,430.00 | |||
| Teaching Materials | 600.00 | 600.00 | |||
| Repair and Maintenance | 10,000.00 | 10,000.00 | |||
| Total Pre School Expense | 144,374.00 | 58,345.00 | 93,864.00 | 65,750.42 | 362,333.42 |
| Volunteer Programme | |||||
| Allowance | 82,500.00 | 71,400.00 | 69,500.00 | 35,500.00 | 258,900.00 |
| Local Expenses | - | ||||
| Foods and Beverages | 520.00 | 520.00 | |||
| Total Volunteer Programme Expenses | 82,500.00 | 71,400.00 | 69,500.00 | 36,020.00 | 259,420.00 |
| Training & Empowerment Programme | |||||
| Food and Beverages | 28,683.00 | 3,050.00 | 3,040.00 | 34,773.00 | |
| Special Events and Programme | 2,776.00 | 2,776.00 | |||
| Workshop Material | - | ||||
| Tools & Equipment’s | 12,800.00 | 12,800.00 | |||
| Telephone and Internet | - | ||||
| Tutor Payment | 32,000.00 | 32,000.00 | |||
| Stationary | 21,819.00 | 985.00 | 20,205.00 | 700.00 | 43,709.00 |
| Travelling | 750.00 | 2,500.00 | 9,200.00 | 1,700.00 | 14,150.00 |
| Total Training & Empowerment Programme | 66,828.00 | 6,535.00 | 32,445.00 | 34,400.00 | 140,208.00 |
| Saturday Service | |||||
| Workshop Material | 8,300.00 | 1,400.00 | 9,700.00 | ||
| Travel | 1,777.00 | ||||
| Food and Beverages | 5,895.00 | 1,750.00 | 7,645.00 | ||
| Total Saturday Service Expenses | 8,300.00 | 5,895.00 | 3,150.00 | 1,777.00 | 19,122.00 |
| Total Expense | 2,390,763.28 | 1,967,307.72 | 1,610,039.09 | 2,085,279.44 | 8,053,389.53 |
| Net Ordinary Income | 1,604,345.21 | 1,213,663.81 | 710,997.09 | (244,569.90) | 3,284,436.21 |
| Profit for the Year | 1,604,345.21 | 1,213,663.81 | 710,997.09 | (244,569.90) | 3,284,436.21 |
Financial Statements 2023
The T.E.A. Project
16
Appendix 01
Changes details of Exchange Rate
| Quarter | 1 | 1 | **Average ** | Quarter | 2 | **Average ** | **Average ** | |
|---|---|---|---|---|---|---|---|---|
| January | 445.87 | April | 398.04 | |||||
| February | 440.51 | May | 385.47 | |||||
| March | 400.37 | June | 381.99 | |||||
| 428.92 | 388.50 | |||||||
| Quarter | 3 | **Average ** | Quarter | 4 | **Average ** | |||
| July | 411.10 | October | 395.51 | |||||
| August | 408.97 | November | 407.35 | |||||
| September | 399.53 | December | 413.87 | |||||
| 406.53 | 405.58 |
| Average for the Year | |
| **Quarter 1 Average ** | 428.92 |
| **Quarter 2 Average ** | 388.50 |
| **Quarter 3 Average ** | 406.53 |
| **Quarter 4 Average ** | 405.58 |
| 407.38 |
Financial Statements 2023
The T.E.A. Project
17 Financial Statements 2023 The T.E.A. Project
18 Financial Statements 2023 The T.E.A. Project