DUSTY YAK FOLTNDATION TFIF. DUSTI. YAK TrOUNDATION 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 2025 Charity No. 1172937 Company No. 10559397 Pagelof8 The Dusty Yak FoundJtAon srouEL140usr, TIIF IIART, I,"AIINIIAM, SUIIIILY GUC) 711W DUSTY YAK FOUNDATION Table of Contents OURAIMS & OBJECTIVES................ HOW OUR ACTIVITES DELIVER PUBLIC BENEFIT.. ACHEIVEMENTS AND PERFORMANCE... FINANCIAL REVJEW................ PLANS FOR FUTURE PERIODS.. STRucfuRE, GOVERNANCE AND MANAGEMINT... RESPONSIBILITIES OF THE TRUSTIES.. Page2of8 Tlie Dusly Y"Ilc r(Jiiii(I"Iti(-)11 sI.:(2UI.:I.11()IJSL, I'111.' IIART, fARNIIAM, SURREY GU9 711W 11 DUSTY YAK FOUNDATION REFERENCE AND ADMINISTRATION DETAILS OF THE CHARITY CHARITY NAME: Tlie Dusty Yak Foundation CHARITY REGISTRATION NO: 1172937 COMPANY REGISTRATION NO: 10559397 REGISTERED OFFICE ADDRESS: Sequel House, The Hart, Farnham, Surrey GU9 7HW COMPANY DIRECTORS: Mattliew Hurley Charles Peter Murray Dykes SECRETARY: Louisa Jane Hurley TRUSTEES: Matthew Hurley Charles Peter Murray Dykes Alexander Acloque INDEPENDENT EXAMINER: ANDREW LILLINGSTONE Unit13 Hurlingham Studios, Ranelagh Gardens, London SW6 3PA Page3of8 Tl)e Dusly Yak Fouiidalioii sEourL140usr, TIIC FIAlI'f, I,'AIINIIAM, SURRIY GU9 7FIW DUSTY YAK FOUNDATION I. OUR AIMS & OBIECTIVES es and Aim To relieve the poverty, advance tlie 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 We review our aims, objectives and clctivities, 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. c) The focus of our 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. our work delivers our ciims 2. HOW OUR ACTIVITES DELIVER PUBLIC BENEFIT Who u.sed and benefited from our services? Orphaned, neglected, impoverished and/or sick childi.eii in nLed iii Nep"Il. Page4of8 Tlie Du(*ty Yak foundation SLQUEI. IIOUSE, TIIE IIART, fARNIIAM, SURRIY GU9 711W 11 DUSTY YAK rouNDATION 3. ACHEIVEMENTS AND PERFORMANCE A. B dhanilkanth Or Ii,In Aim- to rehouse, protect and educate 11 girls living witliout parents in threatening environment.. It has been a successful year for tlie 11 girls where by (ill have surpassed expectations. The oldest completing her three year nursing degree, with another in her second year of nursing and still continuing to perforin in the top 5 % of her intake. Another awarded a full academic 2 year college scholarship and consistently performing well academically and participating in all ex curricular activities. B. Mana enient of ro ects 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 £57,663 for this period. Financin of ro ects Fundraising activities include: Sponsor a child Monthly/annual donor schemes UK School's Charitable activities Events including marathons, quiz nights and dinnLJrs Page5of8 The Dusty Yak foundation SEQUEL HOUSE, TIIE14ARI', fARNHAM, SUIIIIIY GUC) 71 IW 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. Our main focus being our pai-tnership with the Property Race Day Charity, which has enabled the construction of a trade training centre, whereby we are training carers, This 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. By enabling them to secure employment opportunities in Nepal and abroad within the caregiving sector, allows economic independence and social mobility. 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 is fundamental to the success of the charitable activities. Third party bookkeeping and accounting practices protects 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 SEQUEL HOUSE, THE14AlI'r, rARNIIAM, SUIIRIY GUC) 711W Ji DUSTY YAK rouNDATION TrUSTEES Company Secretary Policy, Procedures. Financial and Project Selection ResporLsibilities Financial, Welfare and Administrative Responsibilities Dusty Yak Society Nepal: Staff and Projects Implementation Project 2 Project 3 a) Governi 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 tlie event of the company being wound up members are required to contribute an amount not exceeding £10. ointment 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. c) Risk Mana ement We review the risks to which the charity is exposed in our AGM, or as Ind when necessitates during the year. To mitigate the risks, we have set out the need for the tliird Pclrty to only use any funds received in advancing the agreed project/cause. WL Iiave fii"m financial controls in place that minimize any ris1< of misuse of these fLinds. Document Page7of8 Tlie Dusty Yak Foundalioii SEQUEL140USE, THE IIART, fAIINIIAM, SURREY GU9 711W Ai DUSTY YAK rouNDATION 7. RESPONSIBILITIES OF THE TRUSTEES To have financial statements prepared for tlie year that reflect a true and fair view of the financial affairs of the cliarity, 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 Iiiake decisions in line with good practice and adhere to the rules set out in the governing document. The Trustees. Annual Return and Financial Statements were approved on 28th October 2025 and signed on its belialf by: MArrHEW HURLEY (Trustee) Page8of8 Tlie Dusty Ydlc fouii(lJlioii SLQUEL IIOUSE, TIIE IIART, FARNIIAM, SURRfY c,u9 711W ## **COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937** ## **The Dusty Yak Foundation** ## **UNAUDITED FINANCIAL STATEMENTS** **for the year ended** **31 January 2025** ## **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** Sequel House The Hart Farnham Surrey GU9 7HW ## **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 2024 to 31 January 2025. ## **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 ANDREW LILLINGSTON LIMITED Chartered Accountant 13 Hurlingham Studios Ranelagh Gardens London SW6 3PA Date: 27 October 2025 1 ## **The Dusty Yak Foundation** ## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 January 2025** |**Unrestricted**
**funds**
**Notes**
**2025**
**£**
**Income and endowments**
Donations and legacies
**5**
121,812
HMRC Gift Aid
**5**
0
Charitable activities
**6**
0
**Total income**
121,812
**Expenditure**
Expenditure on:
Raising funds
**7**
3,313
Charitable activities
**8**
166,696
Separate material expense items
0
Other
3,611
**Total expenditure**
173,620
**Net income and net movement in funds**
(51,808)
**Reconciliation of funds**
Total funds brought forward
109,471
**Total funds carried forward**
57,663|**Prior year**
**funds**
**2024**
**£**
168,453
4,570
0| |---|---| ||173,023| ||29,234
49,602
0
1,944| ||80,780| ||92,243| ||17,228| ||109,471| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 1 **COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937** ## **The Dusty Yak Foundation STATEMENT OF FINANCIAL POSITION 31 JANUARY 2025** |**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**|**2025**
**£**
2
2
5,000
55,451
60,451
2,790
57,661
57,663
57,663
57,663
57,663|**2024**
**£**
79| |---|---|---| |||79| |||5,000
110,020| |||115,020
5,628| |||109,392| |||| |||109,471| |||| |||109,471| |||109,471| |||109,471| 2 **The Dusty Yak Foundation COMPANY REGISTRATION NUMBER: 10559397 STATEMENT OF FINANCIAL POSITION (continued) 31 JANUARY 2025 CHARITY REGISTRATION NUMBER: 1172937** For the year ending 31 January 2025 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 2025 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 27 October 2025, 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 2025** ## **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 Sequel House, The Hart, Farnham, Surrey, GU9 7HW ## **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 2025** ## **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 2025** ## **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**| ||**2025**|**2024**| ||**£**|**£**| |Donations|121,812|168,453| |HMRC Gift Aid|0|4,570| ||121,812|173,023| |**CHARITABLE ACTIVITIES**|**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**2025**|**2024**| ||**£**|**£**| |Fund raising events|0|0| ||0|0| |**COSTS OF RAISING DONATIONS AND LEGACIES**|**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**2025**|**2024**| ||**£**|**£**| |Staging fundraising events|3,313|29,234| ||3,313|29,234| 6 ## **The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2025** |**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**
**2025**
**£**
166,696
166,696
**Unrestricted**
**Funds**
**2025**
**£**
166,696
166,696
**2025**
**£**
0
were received by
**2025**
**£**
5,000
5,000
**2025**
**£**
2,790
2,790|**Unrestricted**
**Funds**
**2024**
**£**
49,602| |---|---|---| |||49,602| |||**Unrestricted**
**Funds**
**2024**
**£**
49,602| |||49,602| |||**2024**
**£**
0| |||**2024**
**£**
5,000| |||5,000| |||**2024**
**£**
5,628| |||5,628| 7 ## **The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2025** |**14**
**ANALYSIS OF CHARITABLE FUNDS**
**UNRESTRICTED FUNDS**
**As at**
**1 Feb 2024**
**£**
General unrestricted funds
109,471
109,471
**15**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Fixed assets
Current assets
Creditors: amounts falling due within one year
**Net assets**|**Income**
**£**
121,812
121,812|**As at**
**Expenditure**
**31 Jan 2025**
**£**
**£**
173,620
57,663
173,620
57,663
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
**2025**
**2024**
**£**
**£**
2
79
60,451
115,020
2,790
5,628
57,663
109,471|**As at**
**Expenditure**
**31 Jan 2025**
**£**
**£**
173,620
57,663
173,620
57,663
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
**2025**
**2024**
**£**
**£**
2
79
60,451
115,020
2,790
5,628
57,663
109,471| |---|---|---|---| ||||109,471| 8 ## **COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937** ## **The Dusty Yak Foundation** ## **UNAUDITED FINANCIAL STATEMENTS** **for the year ended** **31 January 2025** ## **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** Sequel House The Hart Farnham Surrey GU9 7HW ## **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 2024 to 31 January 2025. ## **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 ANDREW LILLINGSTON LIMITED Chartered Accountant 13 Hurlingham Studios Ranelagh Gardens London SW6 3PA Date: 27 October 2025 1 ## **The Dusty Yak Foundation** ## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 January 2025** |**Unrestricted**
**funds**
**Notes**
**2025**
**£**
**Income and endowments**
Donations and legacies
**5**
121,812
HMRC Gift Aid
**5**
0
Charitable activities
**6**
0
**Total income**
121,812
**Expenditure**
Expenditure on:
Raising funds
**7**
3,313
Charitable activities
**8**
166,696
Separate material expense items
0
Other
3,611
**Total expenditure**
173,620
**Net income and net movement in funds**
(51,808)
**Reconciliation of funds**
Total funds brought forward
109,471
**Total funds carried forward**
57,663|**Prior year**
**funds**
**2024**
**£**
168,453
4,570
0| |---|---| ||173,023| ||29,234
49,602
0
1,944| ||80,780| ||92,243| ||17,228| ||109,471| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 1 **COMPANY REGISTRATION NUMBER: 10559397 CHARITY REGISTRATION NUMBER: 1172937** ## **The Dusty Yak Foundation STATEMENT OF FINANCIAL POSITION 31 JANUARY 2025** |**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**|**2025**
**£**
2
2
5,000
55,451
60,451
2,790
57,661
57,663
57,663
57,663
57,663|**2024**
**£**
79| |---|---|---| |||79| |||5,000
110,020| |||115,020
5,628| |||109,392| |||| |||109,471| |||| |||109,471| |||109,471| |||109,471| 2 **The Dusty Yak Foundation COMPANY REGISTRATION NUMBER: 10559397 STATEMENT OF FINANCIAL POSITION (continued) 31 JANUARY 2025 CHARITY REGISTRATION NUMBER: 1172937** For the year ending 31 January 2025 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 2025 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 27 October 2025, 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 2025** ## **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 Sequel House, The Hart, Farnham, Surrey, GU9 7HW ## **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 2025** ## **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 2025** ## **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**| ||**2025**|**2024**| ||**£**|**£**| |Donations|121,812|168,453| |HMRC Gift Aid|0|4,570| ||121,812|173,023| |**CHARITABLE ACTIVITIES**|**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**2025**|**2024**| ||**£**|**£**| |Fund raising events|0|0| ||0|0| |**COSTS OF RAISING DONATIONS AND LEGACIES**|**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**2025**|**2024**| ||**£**|**£**| |Staging fundraising events|3,313|29,234| ||3,313|29,234| 6 ## **The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2025** |**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**
**2025**
**£**
166,696
166,696
**Unrestricted**
**Funds**
**2025**
**£**
166,696
166,696
**2025**
**£**
0
were received by
**2025**
**£**
5,000
5,000
**2025**
**£**
2,790
2,790|**Unrestricted**
**Funds**
**2024**
**£**
49,602| |---|---|---| |||49,602| |||**Unrestricted**
**Funds**
**2024**
**£**
49,602| |||49,602| |||**2024**
**£**
0| |||**2024**
**£**
5,000| |||5,000| |||**2024**
**£**
5,628| |||5,628| 7 ## **The Dusty Yak Foundation NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 31 January 2025** |**14**
**ANALYSIS OF CHARITABLE FUNDS**
**UNRESTRICTED FUNDS**
**As at**
**1 Feb 2024**
**£**
General unrestricted funds
109,471
109,471
**15**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Fixed assets
Current assets
Creditors: amounts falling due within one year
**Net assets**|**Income**
**£**
121,812
121,812|**As at**
**Expenditure**
**31 Jan 2025**
**£**
**£**
173,620
57,663
173,620
57,663
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
**2025**
**2024**
**£**
**£**
2
79
60,451
115,020
2,790
5,628
57,663
109,471|**As at**
**Expenditure**
**31 Jan 2025**
**£**
**£**
173,620
57,663
173,620
57,663
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
**2025**
**2024**
**£**
**£**
2
79
60,451
115,020
2,790
5,628
57,663
109,471| |---|---|---|---| ||||109,471| 8