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