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2021-01-31-accounts

Du￿ YAK FOiJNDATION TIIL DUSI-)' I'AK FOUNDATION THE DUSTYYAK FOUNDATION Private Limited Company by guarantee without share capital use of 'Limited' exemption THE TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 Charity No. 1172937 Company No. 10559397 Th* Dwty Yak Foujbdatlon 58 Kensington House. IAindon SWII 4FA Pa8elof8

DUSTY YAK f0LINIDAJ10 Table of Contents OUR AIMS & OBIEcfivES.........................-..................-..........-........-.--.................................. HOW OUR ACTIVITES DELIVER PUBLIC BENEFIT.........................-...-....-...... ..........-............ ACHEJVEMENTS AND PERFORMANCE.......-...-....-.....-........ -................. FINANCIAL REVIEW......................-.--...................-......-..-...............-.........-.............................. PIANS FOR FUTURE PEIUODS...................................-.........................-.................................... STRUCTURE. GOVERNANCE AND MANAGEMENT...-.-.............-................-...-.-..................... RESPONSIBIUTIES OF THE TRusfEES....... Pa8e2of8 The Dustyyak Foundaiio $8 KeDslngton House. London SWII 4FA

DUSTY YAK roi'.IDrlTIOIN, CHARITY NAME: The Dustyyak Foundatlon CHARITY REGisfRATION NO: 1172937 COMPANY REGISTIL4TION NO: 10559397 REGisfERED OFFICE ADDREts: 58 KeDslnyon House. 3 Palmer Road, London SWII 4FA COMPANY DIRECTORS: Matthew Hurlry Cbarles Peter Murray Dykes SECREfARY: IA)ulsa lane Hurley TRUSTEES: Matthew Hurley Charles Peter Murray Dykes Alexander Acloque INDEPENDENT EXAMINEL. ANDREW ULLINGSTONE Unlt13 Hurllngham Studlo4 Ranelagh Gardens, 14*ndon SW6 3PA The Dusty Yak Foundallon 58 Kensington House, L•ndon SWII 4FA Pa8e3018

DUSTY YAK I. OUR AIMS & OBIEcfivES To relieve the poverty. advance the educatlon and protect and preserve the health of orphaned. neglerted. impoverlshed and/or sick chlldren in need in Nepal and elsewhere in the world suffering from such hardship and distress, through the provlslon of: Baslc necesslties. such as care. accommodatton. clothin& food and medlclne: Educational tultlon and equipment and the making of grants; and Flnanclal, materlal and loglstlcal support to organlsations and indlviduals who work with such orphaned. neglerted. Impoverlshed and/or sick children In order to help bulld or Improve their accommodation. schools and living condits'ons in general. b) We revlew our alms, oblertlves and artivltles, achlevements and outcomes. once a year In our AGM, and as and when nece55itates during the year. The review detennines the succe55 of the artlvltles and how beneficlaries In Nepal have benefited from our worlL The review also ensures that our puryoses and alms remaln consSsient and how planned artivltles contribute to the alms and oblertlves seL Our maln oblectlves for the year condnued to relleve the poverty. advance the educatton and protect and preserde the health of orphaned, neglected. Impovertshed and/or slck chlldren In need In Nepal by provtding care. accommodatlon, clothln& food and mediclne. We have provlded educational tultion and equipment and finan¢lal, material and I0￿'S￿cal support to organlsations and Indlvlduals who svork wlth such orphaned, neglected, Impoverished and/or slck children in order to help bulld or Improve thelr accommodatton. schools and Ilvlng condltions In general. Prindpally. OUT fo￿$ has been as51sdng Nepalese orphanages. 2. HOW OUR A￿1vITE5 DELIVER PUBUC BENEFIT Orphaned, neglerted. Impoverlshed and/or slc* chlldren In need In Nepal. The Dusty Yak Foundallon 58 Kensington House. knndon SWII 4FA PaBe4of8

DUSTY YAK IUbiNDArioli 3. ACHEIVEMENTS AND PERFORMANCE Aim- to rehouse. protect and educqte li glrls livln9 Without parents In threatening environment.. It has been a dlfflcult year for all Nepalese Chlldren due to the COVID 19 Pandemic. The Pandemlc has had perhaps thegrearer impart on 3rd world countrles. Lockdown has meant the closure of schools and generally Ilmlted technology to enable on-llne learnlng and academlc development. We were aware of the limitations and purchased new laptops for each class group. We have Supplemented the onllne academlc lessons with Internatlonal educatlon where posslble. Throughour this period an internatlonal team including Louisa and Matthew Hurley spent extended pethods in Nepal to ensure the welfare of the chtldren could be malntalned. Alm- to provlde medlcal asslstonce to the Dusty Yok chlldren ond wlder cornmunlty. Project Suspended due to COVID 19- to be restsrted In 2022. All projects are managed throu8h a rlgorous reportln8 sysrem to ensure that operatlonal oblectives are achleved and financlal forecasts malntalned. Reportlng Is dally. weekly and monthly. There are no Internatlonal persons employed dirertly by the chartty. The charlty Is run by volunteers. Local employees undertake a chlld welfare course and must have a crimlnal record ¢heclL Nepal remains a dlfficult eounty to operate buslnesses and charltles. Internatlonal operatlng Standards are applied by The Dusty Yak Foundatlon. 4. FINANCIAL REVIEW The charlty generated a flnanclal Income of £36,106.00 for thls period. The Dusty YakF0￿￿dadon 58 Kensington Ho￿. knndonSWII 4FA Pa8eSof8

Dusfy YAK FOiiliDATIL)li Fundrdlslng activitles Include: Sponsor a chlld Monthly/annual donor schemes UK School's Charitable actSvltles Events Includlng marathons. qulz nlght and dlnners All non-budgeted prolert spending greater than UK £50.00 must be approved by the company secretary or a trustee. Project fundlng Is provlded on a month by month basls on subml55ion of prolert receipts. 5. PIANS FOR FUTURE PERIODS The charlty plans to continue supportin8 current projects. Profrct WCSCN (The Women & Children Service Centfe Nepall has not been reallzed due to fundlng shorta8e5 and COVIO- 19 Pandemic. Thls will be reviewed fe8ularly. 6, sfRucfuRE, GOVERNANCE AND TrL4NAGEMENT The trustees are aware of the'rlsks of dolnB buslness. In Nepal and In thlrd world countrles. Rlgorous polldes and procedures applied to reportlng on all projects is fijndamentsl to the success of the charttable actlvltte& Thlrd party bookkeeplng and accountlng practlces protects agdlnst flnandal rlsk& The development of a child welfare course. whlch Is accredited to Internatlonal standards. has been undertaken by all volunteers and project staff to mitigate agalnst harm to chlldren. Dally reportin& ongolng due dlll8ence and strirt governance safeguards agalnst assessed rlsks. The Dusty YakFound#tlon 58 Kensington House, IAindon SWII 4FA Page6of8

Dusfy YAK TrUSYEES Componv Poll¢y. Procedure Flnandal and . Project Sdecllon Responslbllliie5 Flnandal. Welhre and Admlnlstratlve Respon51bllltle Dusty Yak Soclety Népal: Staff and Pioltrts Implementatlon ojert i EJCJED rolect The organlsatlon Is a Prlvate Llmlted Company by guarantee without Share capltal use of 'Llmited' exemptlon. incorporated on Ilt* lanuary 2017 and reglstered a5 a charlty on 9th May 2017. In the event ofthe company beln8 wound up members are requlred to contrlbute an amount not exceedlng £10. b) The directors of the company are also the charttys trustees and are elected to serve for perlod ofthree years after which they must be re-elected at the next AGM. All trustees glve thelr tlme voluntarlly and recelve no benefits from the charlty. We review the rlsks to which the charlry Is exposed In our AGM. or as and when necessltates durlng the year. To mitlgate the rlsks, we have set out the need for the third party to only use any funds recelved in advanang the agreed project/cause. We have firm financial controls In place that mlnlmlze any risk of mlsuse of these funds. The Dustyyak FouDdadon 58 Ken5in8ton House. ￿Thd0Th SWII 4FA Pa8e7of8

DU￿(YAK OUINDATION 7. RESPONSIBILITIES OF THE TRUSTEES To have finandal statements prepared for the year that reflect a true and falr vlew of the financlal affairs of the charity. to Include income and expenditure. for the ftnanclal year. We have selerted and applied Suitable accounttng polldes To act in the best Interest ofthe charity To act reasonably and responsibly in all charlty related matters To use the Charit￿5 Income for the purpose5 set out In the governlng document To make declslons In Ilne wlth good practtce and adhere to the rules set out In the governlng documenL The Trustees. Annual Return and Flnanclal Statements were approved on 22 October 2021 and SI￿ed on Its behalf by: MATTHEW HURLEY (Trnstee) The DustyYakFouDdatlott 58 Kensington Hous¢ knndonSWII 4FA Pa8e8of8

COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937

The Dusty Yak Foundation

UNAUDITED FINANCIAL STATEMENTS

for the year ended

31 January 2021

The Dusty Yak Foundation COMPANY OFFICERS AND ADVISORS

DIRECTORS

Matthew Hurley (appointed 11 January 2017) Charles Dykes (appointed 11 January 2017)

COMPANY SECRETARY

Louisa Hughes (appointed 11 January 2017)

REGISTERED OFFICE

58 Kensington House 3 Palmer Road London SW11 4FA

INDEPENDENT EXAMINER

Andrew Lillingston Limited 13 Hurlingham Studios Ranelagh Gardens London SW6 3PA

REGISTERED NUMBERS

Company number 10559397 Charity number 1172937

The Dusty Yak Foundation INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DUSTY YAK FOUNDATION

I report to the trustees on my examination of the financial statements of The Dusty Yak Foundation ('the charity') for the period from 1 February 2020 to 31 January 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Lillingston

Oct 22, 2021

ANDREW LILLINGSTON LIMITED Chartered Accountant 13 Hurlingham Studios Ranelagh Gardens London SW6 3PA

1

The Dusty Yak Foundation

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 January 2021

Unrestricted
funds
Notes
2021
£
Income and endowments
Donations and legacies
5
36,106
Charitable activities
6
Total income
36,106
Expenditure
Expenditure on:
Raising funds
7
225
Charitable activities
8
29,788
Separate material expense items
0
Other
818
Total expenditure
30,831
Net income and net movement in funds
5,275
Reconciliation of funds
Total funds brought forward
39,703
Total funds carried forward
44,978
Prior year
funds
2020
£
45,440
14,700
60,140
3,806
41,928
824
1,144
47,702
12,438
27,265
39,703

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

2

The Dusty Yak Foundation STATEMENT OF FINANCIAL POSITION 31 JANUARY 2021

COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937

Notes
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted funds
TOTAL CHARITY FUNDS
14
2021
£
288
288
673
44,017
44,690
0
44,690
44,978
44,978
44,978
44,978
2020
£
502
502
53
39,148
39,201
0
39,201
39,703
39,703
39,703
39,703

3

The Dusty Yak Foundation COMPANY REGISTRATION NUMBER: 10559397 STATEMENT OF FINANCIAL POSITION (continued) 31 JANUARY 2021 CHARITY REGISTRATION NUMBER: 1172937

For the year ending 31 January 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 22 October 2021, and are signed on behalf of the board by:

Matthew Hurley

Matthew Hurley (Director and Trustee)

4

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2021

1 GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 58 Kensington House 3 Palmer Road, London, England, SW11 4FA.

2 STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS102)) and the Charities Act 2011.

3 ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the income or expenditure account.

The financial statements are prepared in sterling which is the functional currency of the entity.

GOING CONCERN

There are no material uncertainties about the charity's ability to continue.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

FUND ACCOUNTING

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

5

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2021

3 ACCOUNTING POLICIES (continued)

INCOMING RESOURCES

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reasonably measured. The following specific policies are applied to particular categories of income:

RESOURCES EXPENDED

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

6

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2021

3 ACCOUNTING POLICIES (continued)

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transactions costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

4

LIMITED BY GUARANTEE

The Dusty Yak Foundation is a company Limited by Guarantee, not having a share capital. The members undertake to contribute a sum, not exceeding £10 each, to the assets of the company in the event of it being wound up.

5

6

7

DONATIONS AND LEGACIES Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Donations 36,106 45,440
36,106 45,440
CHARITABLE ACTIVITIES Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Fund raising events 0 14,700
0 14,700
COSTS OF RAISING DONATIONS AND LEGACIES Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Staging fundraising events 225 3,806
225 3,806

7

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2021

8 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Nepal children's home, Medical and Education Projects 29,788 41,928
29,788 41,928
9 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Unrestricted Unrestricted
Funds Funds
2021 2020
£ £
Nepal children's home, Medical and Education Projects 29,788 41,928
29,788 41,928
10 INDEPENDENT EXAMINATION FEES 2021 2020
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 0 0
11 TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by
the trustees.
12 DEBTORS 2021 2020
£ £
Other debtors 673 53
673 53
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020
£ £
Other creditors 0 0
0 0

8

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2021

14
ANALYSIS OF CHARITABLE FUNDS
UNRESTRICTED FUNDS
As at
1 Feb 2020
£
General unrestricted funds
39,703
39,703
15
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Current assets
Creditors: amounts falling due within one year
Net assets
Income
£
36,106
As at
Expenditure
31 Jan 2021
£
£
(30,831)
44,978
(30,831)
44,978
Unrestricted
Unrestricted
Funds
Funds
2021
2020
£
£
44,978
39,703
0
0
44,978
39,703
As at
Expenditure
31 Jan 2021
£
£
(30,831)
44,978
(30,831)
44,978
Unrestricted
Unrestricted
Funds
Funds
2021
2020
£
£
44,978
39,703
0
0
44,978
39,703
36,106
39,703

9

The Dusty Yak Foundation - Accounts for the year ended 31 January 2021

Final Audit Report

2021-10-23

Created: 2021-10-22 By: Andrew Lillingston (andrew@andrewlillingston.com) Status: Signed Transaction ID: CBJCHBCAABAApJOs325bhhO7BMz5qhfuao8zy7N252T9

"The Dusty Yak Foundation - Accounts for the year ended 31 Ja nuary 2021" History

Document created by Andrew Lillingston (andrew@andrewlillingston.com)

2021-10-22 - 10:18:54 GMT- IP address: 109.73.121.1

Document e-signed by Andrew Lillingston (andrew@andrewlillingston.com)

Signature Date: 2021-10-22 - 10:20:16 GMT - Time Source: server- IP address: 109.73.121.1

Document emailed to Matthew Hurley (matt.hurley@poseidon-gp.com) for signature

2021-10-22 - 10:20:17 GMT

Email viewed by Matthew Hurley (matt.hurley@poseidon-gp.com)

2021-10-22 - 10:21:04 GMT- IP address: 36.252.27.39

Document e-signed by Matthew Hurley (matt.hurley@poseidon-gp.com)

Signature Date: 2021-10-23 - 03:38:43 GMT - Time Source: server- IP address: 202.63.243.169

Agreement completed.

2021-10-23 - 03:38:43 GMT

The Dusty Yak Foundation INDEPENDENT EXAMINER'S REPORT TO THE TrV8IEES LF IHE CLISTY YAK FOUNDATION I reF￿ to the tNslèes on my examination ollh• fin•naal LWI Y¥k Cth• tharity) the pertsl from 1 Fobruw 2020 to 31 Januwy 2021. RESPONsi&unes AND &4SIS OF IIEPORT As lh• truste•s of th• C￿nY I•￿ 4150 its thr•¢iorn lorth• pur￿3•$ ofe&npw W you ar• respon$ibl• for the prep•ratson olth• finwwl st•t•menls thi let￿￿n¢4 wlh th• r•qwr•m•nts ￿th• Cony8nios A¢t 2fyX CIM 21)X Ad). Hwing s4tssf￿ myaellthat lh• •c¢•￿ts ofth• c•mpwry • rnt rnqfftd to b• •u¢%•d undwPart 18 ofth• 2CK6 Ac4 and arn •ligit4è for ind•pNJ•nt ¢yankn•'on. I rIP￿ in r•sF•et olmy •yaNnaknn ofthe ¢4nV• al￿unIS •$ urfi•d oth urth s¢cfr"on 145 oflm charity￿ Ad 2011 fth• 2011 ACVI. In c4ffying out Imina"on I hkn folrymd lh• Ctr•ty sKon 144SMbl oflh• 2011 ACL Ind•p•nd•nt •M•mln•rf• •t4l•m I hw• c4mpl•i•d rny •yaminaiion. l Mnfirm tr•t ryj ffl•tt•r com• to •tt•thn tr• •y4fflina"on giving m• lo bélim.. r•cordi YA•r• k•pt al r•wk•d by 3e6 ofth• 2￿0 Ad: th• do rnl ilh Ih •cttwnling r•wiTerr•nls of s•cbon 396 ofth• 2006 AL 0lh•rth•n any r•quir•n%rynl Ih•t lh• •t not the financial slat•rn•n¢s h•w nol b1 sxep¥r•d in •cO)rthrK•￿1h th• moth￿$ •nd pr￿p￿S ol th• Slai•m•nt of PI•ciite for oc£ouTrtwffj and reporting by chorfbes •PF•bl• to chartt￿l pr•p4ring Ihw a(xxwnts ￿ acco￿8[￿• th• Fimnwl R•por'rvJ S¢•ndar apphcth in th• UK and ol Ir•I￿d IFRS 1021. I ha￿ no g)rK•ms and h•v• com• across no oth•r m•tt•rn ln o]rtrnckn wth Ihe •x•mination to vhwth •tt•niJn jlwtd h dr•n in this r•port ￿ ryd•r tr) Inab￿ a r#Y4w undwstandwg olth• •r4))unls lo b• Oct 22. 2021 ANDREW LILLINGSTON UMITED Chartered Aetountsnt 13 Hurfingham StuthoJ R•n•lagh GArden$ London SW8 3PA