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**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. 1 ## **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| 2 **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) 3 **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. 4 **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. 5 **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. **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**| ||**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| 6 ## **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| 7 ## **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| 8 ## 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 Document created by Andrew Lillingston (andrew@andrewlillingston.com) 2024-10-24 - 17:27:41 GMT- IP address: 109.73.121.1 ## Document e-signed by Andrew Lillingston (andrew@andrewlillingston.com) Signature Date: 2024-10-24 - 17:28:37 GMT - Time Source: server- IP address: 109.73.121.1 Document emailed to Matthew hurley (matt.hurley@poseidon-gp.com) for signature 2024-10-24 - 17:28:38 GMT Email viewed by Matthew hurley (matt.hurley@poseidon-gp.com) 2024-10-25 - 01:32:18 GMT- IP address: 92.97.159.84 ## Document e-signed by Matthew hurley (matt.hurley@poseidon-gp.com) Signature Date: 2024-10-25 - 01:32:37 GMT - Time Source: server- IP address: 92.97.159.84 Agreement completed. 2024-10-25 - 01:32:37 GMT The Dusty Yak Foundation INDEP￿DENT 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 2￿24. 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 aCcOrdan￿￿7th 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 examinal￿n giving me cause to bdieve.. acwunting records were not kept In respect ofthe tharlty a8 required by sectlon 385 of the 2￿6 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 f￿arria1 statements have not been prepared Sn aCCordan￿￿1th 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 appIl￿ble in the UK and Republcof 5reJand IFRS I￿21- 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