2024-01-31-accounts - The Dusty Yak Foundation

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DUSTY YAK FOUNDATION THE DUSTY YAK FOUNDATION THE DUSTY YAK 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 2024 Charity No. 1172937 Company No. 10559397 Pagelof8 Tlie Dusty Yak Fouiidation 501 Bessborough 14ouse, Circus Road WL'st, Lond()n SWI 18EG Ji

DUSTYYAK FOUNDATION Table of Contents OUR AIMS & OBJECTIVES. HOW OURACTIVITES DELIVER PUBLIC BENifiT............ .................. .. ACHEIVEMENTS AND PERFORMANCE.. FINANCIAL REVIEW.... .............................................................. PLANS FOR FUTURE PERIODS.............................. .. ... . STRUCTURE, GOVERNANCE AND MANAGEMINT.................... RESPONSIBILITIES OF THE TRUSTEIS.... ... Page2of8 The Dusty Yak Fouii(lation 501 BessborouLJh House, Circus Road WL'St, Lnn(lon SWI 18EG 11

DUSTY YAK FOUNDATION REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY CHARITY NAME: The Dusty Yak Foundation CHARITY REGISTRATION NO: 1172937 COMPANY REGISTRATION NO: 10559397 REGISTERED OFFICE ADDRESS: 501 Bessboroijgh House, London SWII 8EG COMPANY DIREcfoRS: Matthew Hurley Ch<irles Peter Murray Dykes SECRETARY: Louisa Jane Hurley TRUSTEES: Matthew Hurley Charles Peter Murray Dykes Alexander Acloque INDEPENDENT EXAMINER: ANDREW LILLINGSTONE Unit 13 Hurlingham Studios, Ranelagh Gardens, London SW6 3PA Page3of8 TIIL. Dusty Yali Foundatic)n 501 BessborouEh House, Circus Road West, London SWII 8EG

DUSTY YAK FOUNDATION I. OUR AIMS & OBJECTIVES nd Aim To relieve the poverty, advance the education and protect and preserve the health of orphaned, neglected, impoverished and/or sick children in need in Nepal and elsewhere in the world suffering from such hardship and distress, through the provision of: Basic necessities, such as care, accommodation, clothin& food and medicine; Educational tuition and equipment and the making of grants; and Financial, material and logistical support to organisations and individuals who work with such orphaned, neglected, impoverished and/or sick children in order to help build or improve their accommodation, schools and living conditions in general. b) Ensurin our work deliver our aim We review our aims, objectives and activities, achievements and outcomes, once a year in our AGM, and as and when necessitates during the year. The review determines the success of the activities and how beneficiaries in Nepal have benefited from our work The review also ensures that our purposes and aims remain consistent and how planned activities contribute to the aims and objectives set. work Our main objectives for the year continued to relieve the poverty, advance the education and protect and preserve the health of orphaned, neglected, impoverished and/or sick children in need in Nepal by providing care, accommodation, clothing, food and medicine. We have provided educational tuition and equipment and financial, material and logistical support to organisations and individuals who work with such orphaned, neglected, impoverished and/or sick children in order to help build or improve their accommodation, schools and living conditions in general. Principally, our focus has been assisting Nepalese orphanages. 2. HOW OUR ACTIVITES DELIVER PUBLIC BENEFIT Who used and benefited from our services? Orphaned, neglected, impoverished and/or sick children in need in Nepal. Page4of8 The Dusty Yak Foundation 501 Bessborough House. Circus Road West, London SWII 8EG

DUSTY YAK FOUNDATION 3. ACHEIVEMENTS AND PERFORMANCE A. Budhanilk ntha Or hana Aim- to rehouse, protect and educate 11 girls living without parents in threatening environment.. It has been a successful year for the I I girls where by all have surpassed expectations. The oldest passed with a distinction in her second year exams and another was awarded a place at the Police Nursing College in Kathmandu where she is consistently performing in the top 5 % of her intake. The other girls are all performing well academically and participating in all ex curricular activities. B. Mana ement f ro ec All projects are managed through a rigorous reporting system to ensure that operational objectives are achieved, and financial forecasts maintained. Reporting is daily, weekly and monthly. There are no international persons employed directly by the charity. The charity is run by volunteers. Local employees undertake a child welfare course and must have a criminal record check C. General Nepal remains a difficult country to operate businesses and charities. International operating standards are applied by The Dusty Yak Foundation. 4. FINANCIAL REVIEW The charity generated a financial income of £173,023.00 for this period. ancin Fundraising activities include: Sponsor a child Monthly/annual donor schemes UK School's Charitable activities Events including maratlions, quiz nights and dinners Page5of8 The Dusty Yak Foundation 501 Bessborough Ilouse, Circus Road Wc'st, London SWII 8IG Ji

DUSTY YAK FOUNDATION All non-budgeted project spending greater than UK £50.00 must be approved by the company secretary or a trustee. Project funding is provided on a month by month basis on submission of project receipts. 5. PLANS FOR FUTURE PERIODS The charity plans to continue supporting current projects. The Property Race Day Charity building of a training center is 85 % complete and we look forward to opening its doors this year by which we will train carers. The proposed caregiver course is designed to provide essential training to underprivileged women in Nepal, equipping them with the skills needed to care for children, elderly individuals, and individuals with special needs. The goal is to empower these women by enabling them to secure employment opportunities in Nepal and abroad within the caregiving sector, thus fostering economic independence and social mobility. We have identified a future project is focused on a community project to secure changes for the woman and girls of the Badhi Community who are still subjected to sex trafficking, child pregnancy, child marriage and child trafficking. 6. STRUCTURE, GOVERNANCE AND MANAGEMENT The trustees are aware of the 'risks of doing business, in Nepal and in third world countries. Rigorous policies and procedures applied to reporting on all projects are fundamental to the success of the charitable activities. Third party bookkeeping and accounting practices protect against financial risks. The development of a child welfare course, which is accredited to international standards, has been undertaken by all volunteers and project staff to mitigate against harm to children. Daily reportin& ongoing due diligence and strict governance safeguards against assessed risks. Page6of8 The Dusty Yak Foundation 501 Bessborough House, Circus Road West, London SWI 18EG

DUSTY YAK FOUNDATION TRUSTEES Company Secretary Policy. Procedures. Financial and Project Selection Responsibilities Financial, Welfare and Administrative ' Responsibilities Dusty Yak Society Nepal: Staff and Projects Implementation Project I Project 2 Project 3 ernin The organisation is a Private Limited Company by guarantee without share capital use of 'Limited' exemption, incorporated on Ilth January 2017 and registered as a charity on 9th May 2017. In the event of the company being wound up members are required to contribute an amount not exceeding £10. intment of Officers and Trustees The directors of the company are also the charity's trustees and are elected to serve for a period of three years after which they must be re-elected at the next AGM. All trustees give their time voluntarily and receive no benefits from the charity. isk Mana ement We review the risks to which the charity is exposed in our AGM, or as and when necessitates during the year. To mitigate the risks, we have set out the need for the third party to only use any funds received in advancing the agreed project/cause. We have firm financial controls in place that minimize any risk of misuse of these funds. Page7of8 The Dusty Yak Foundation 501 BessborouLJh House, Circus Road West, London SWII 8EG 11

DUSTY YAK FOUNDATION 7. RESPONSIBILITIES OF THE TRUSTEES To have financial statements prepared for the year that reflect a true and fair view of the financial affairs of the charity, to include income and expenditure, for the financial year. We have selected and applied suitable accounting policies To act in the best interest of the charity To act reasonably and responsibly in all charity related matters To use the charity's income for the purposes set out in the governing document To make decisions in line with good practice and adhere to the rules set out in the governing documenL The Trustees, Annual Return and Financial Statements were approved on 25th October 2024 and signed on its behalf by: MArrHEW HURLEY (Trustee) Page8of8 Tlie Dusty Yak FoundJlion 501 BessborouEh14ouse, Circus Road West, London SWII 8IG 11

COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937

The Dusty Yak Foundation

UNAUDITED FINANCIAL STATEMENTS

for the year ended

31 January 2024

The Dusty Yak Foundation COMPANY OFFICERS AND ADVISORS

DIRECTORS

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

COMPANY SECRETARY

Louisa Hurley (appointed 11 January 2017)

REGISTERED OFFICE

501 Bessborough House Circus Road West London SW11 8EG

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 2023 to 31 January 2024.

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:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
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

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

Date: 24 October 2024

The Dusty Yak Foundation

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 January 2024

Unrestricted funds Notes 2024 £ Income and endowments Donations and legacies 5 168,453 HMRC Gift Aid 5 4,570 Charitable activities 6 0 Total income 173,023 Expenditure Expenditure on: Raising funds 7 29,234 Charitable activities 8 49,602 Separate material expense items 0 Other 1,944 Total expenditure 80,780 Net income and net movement in funds 92,243 Reconciliation of funds Total funds brought forward 17,228 Total funds carried forward 109,471	Prior year funds 2023 £ 24,291 0 0
	24,291
	1,930 68,095 0 2,821
	72,846
	(48,555)
	65,783
	17,228

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

The Dusty Yak Foundation STATEMENT OF FINANCIAL POSITION 31 JANUARY 2024

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	2024 £ 79 79 5,000 110,020 115,020 5,628 109,392 109,471 109,471 109,471 109,471	2023 £ 230
		230
		8,750 13,463
		22,213 5,215
		16,998

		17,228

		17,228
		17,228
		17,228

The Dusty Yak Foundation COMPANY REGISTRATION NUMBER: 10559397 STATEMENT OF FINANCIAL POSITION (continued) 31 JANUARY 2024 CHARITY REGISTRATION NUMBER: 1172937

For the year ending 31 January 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

In the year ending 31 January 2024 the total turnover of the charity was below the threshold of £250,000 and above £25,000 therefore an independent examination was required to be carried out under section 145 of the Charities Act 2011.

Directors' responsibilities:

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;
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 24 October 2024, and are signed on behalf of the board by:

Matthew Hurley (Director and Trustee)

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 January 2024

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 501 Bessborough House, Circus Road West, London, SW11 8EG

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.

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2024

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:

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.
legacy income is recognised when receipt is probable and entitlement is established.
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.
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:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities and the sale of donated goods.
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.
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.

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2024

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.

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.

DONATIONS AND LEGACIES	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Donations	168,453	24,291
HMRC Gift Aid	4,570
	173,023	24,291
CHARITABLE ACTIVITIES	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Fund raising events	0	0
	0	0
COSTS OF RAISING DONATIONS AND LEGACIES	Unrestricted	Unrestricted
	Funds	Funds
	2024	2023
	£	£
Staging fundraising events	29,234	1,930
	29,234	1,930

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2024

8 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Nepal children's home, Medical and Education Projects 9 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Nepal children's home, Medical and Education Projects 10 INDEPENDENT EXAMINATION FEES Fees payable to the independent examiner for: Independent examination of the financial statements 11 TRUSTEE REMUNERATION AND EXPENSES No remuneration or other benefits from employment with the charity or a related entity the trustees. 12 DEBTORS Other debtors 13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors	Unrestricted Funds 2024 £ 49,602 49,602 Unrestricted Funds 2024 £ 49,602 49,602 2024 £ 0 were received by 2024 £ 5,000 5,000 2024 £ 5,628 5,628	Unrestricted Funds 2023 £ 68,095
		68,095
		Unrestricted Funds 2023 £ 68,095
		68,095
		2023 £ 0
		2023 £ 8,750
		8,750
		2023 £ 5,215
		5,215

The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2024

14 ANALYSIS OF CHARITABLE FUNDS UNRESTRICTED FUNDS As at 1 Feb 2023 £ General unrestricted funds 17,228 17,228 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS Current assets Creditors: amounts falling due within one year Net assets	Income £ 173,023 173,023	As at Expenditure 31 Jan 2024 £ £ 80,780 109,471 80,780 109,471 Unrestricted Unrestricted Funds Funds 2024 2023 £ £ 115,020 22,213 5,628 5,215 109,392 16,998	As at Expenditure 31 Jan 2024 £ £ 80,780 109,471 80,780 109,471 Unrestricted Unrestricted Funds Funds 2024 2023 £ £ 115,020 22,213 5,628 5,215 109,392 16,998
			16,998

The Dusty Yak Foundation - Accounts for the year ended 31 January 2024

Final Audit Report

2024-10-25

Created: 2024-10-24 By: Andrew Lillingston (andrew@andrewlillingston.com) Status: Signed Transaction ID: CBJCHBCAABAA9zSj7UjWHsSmBOT0sPNrUQfW1hc70qCo

"The Dusty Yak Foundation - Accounts for the year ended 31 Ja nuary 2024" History

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The Dusty Yak Foundation INDEPDENT EXAMINERS REPORT TO THE TRUSTEES OF THE DUSTYYAK FtXINDATION I reportlo tha trustÉes on my exanrrination of the financial ststements of The sty Yak Foundation I'll]è thaiity'l for the Feriod from 1 February 2023 tr) 31 January 224. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of1 company {and also its directors forth8 PLÈfpos85 ofcDrnpany [*} you are resPPnSit4g for the fxeparalion olthe financlal statements in aCcOrdan7th the r4uirements olthe CuFnpaniEs Acl 20[ {'thg 2006 Ad,). Having satisfied mysalfthatthe accounts ofthe rDmpany are not required to bè au(litèd und&r Part 16 ofthe 20( Act and afe eligible for independent examinaion. I report In respect of my examination of the charity's accoun15 as Gawtied (xlt under section 145 of the CharitiesAct2011 (the 2011 Arf). In earrytng OUE my examination I have follNed the direct(ons given by the Charity Commi&%ton undèrseclton 14515llb} ofthe 2011 Aci Independent gxamlner's statement I have Mpleted my examination. I confirtrj that no matters have ttomÈ tr) my attentTon In connection with the examinaln giving me cause to bdieve.. acwunting records were not kept In respect ofthe tharlty a8 required by sectlon 385 of the 26 Ad., (x the financlal statemerts do not wtth those records: or the finawal statements do nut comply wilh the accounting requirements of80Ction 396 ofthe 2006 Act otherthan any requirement thatthè aecounts give a'lrue and fair vlew which is nol a matter considBred as part of Bn indepèndent exarnination- OT the farria1 statements have not been prepared Sn aCCordan1th the Methods ar5d principle5 ofthe Statement of Recommended Pracuee for accountiru and repoTting by charities appli(zblè lo ch8rib"Ès preparing their accounts in 8CCOTdancewilh the Finandal Reporting Standard appIlble in the UK and Republcof 5reJand IFRS I21- I have no concetns and have come across no other matteT5 in ¢onnÉcthon with the examination to whlch attention should b8 dravm In this report in orderto enabte a propèr understanding orthe accwnts to be Teached. ANDREW LILLINGSTON LIM5TED Charteied kncountanl 13 Hurlingham StLvJios Ranelagh Gardens London SW6 3PA Dale: 24 Ociober 2024