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'Scal 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 A1vITE5 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 YakF0dadon 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 Charit5 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 SIed 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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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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
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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
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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.
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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 |
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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:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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)
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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.
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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:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be measured reliably. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
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.
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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.
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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
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| 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 |
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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 |
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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 |
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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
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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
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