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2021-06-30-accounts

NEPAL YOUTH FOUNDATION (UK) CHARITY COMMISSION REGISTERED NO. 1182261

FINANCIAL STATEMENTS

for the year ended 30 June 2021

NEPAL YOUTH FOUNDATION (UK)

Index

for the year ended 30 June 2021

INDEX

for the year ended 30 June 2021

NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report

The trustees present their report with the financial statements for the year ended 30 June 2021. The financial statements comply with the Charities Act 2011, the charity's constitution and Accounting and Reporting by Charities: 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) issued on 16 July 2017 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Administrative Details

Charity Name: Nepal Youth Foundation (UK)

Other names known by: NYF (UK)

Registered charity number: 1182261 since Jan 2019 (previous charity number 1115394)

Principal Address: Panthera Private Offices, Aldermary House, 10 – 15 Queen Street, London EC4N 1TX

Trustees

Simon Russell - Chairman Gina Parker - Secretary Peter Russell - Treasurer Ina Beeston

Structure, Governance and Management Governing Document.

NYF (UK) is the UK arm of global charity Nepal Youth Foundation USA.

The Charity is controlled by its Constitution and its only voting members are its Trustees. In January 2019 the charity moved from being an unincorporated charity (with the charity registration number 1115394) to an incorporated charity with the new charity registration number 1182261. Although a separate legal charity, the new formation is the same charity in all but with a different registration number. The trustees felt that the move was necessary in order to provide a separate legal entity status, which will enable the charity to move forward with subsidiary trading activities whilst protecting the charity assets from business factors, risks and taxation.

Trustees are appointed or reappointed annually at the Annual General Meeting. All Trustees give their time voluntarily and receive no remuneration or other benefits.

Objectives and activities

The objectives of the charity are to alleviate the suffering of children caused by poverty and other factors and to promote health and education. We also have programmes working with vulnerable women and youngsters, helping them to become financially independent. The area of operation is nationwide in Nepal.

We work hand in hand with the charity Nepal Youth Foundation (NYF USA) and Nepal Youth Foundation in Nepal; we are the UK arm of the charity. We use both charities’ infrastructure and expertise to operate our programmes.

Like many charities, the Nepal Youth Foundation (UK) was significantly affected by the Covid 19 pandemic. As we were unable to organise any fund raising events, it was necessary to place our Chief Executive Officer on furlough. During this time, she resigned having obtained a new post with another charity. Later in the year, our two administrative members of staff also resigned to support their husbands who were in the armed services and were required on Covid-related duties. For the timebeing NYF (UK) continues to operate a reduced range of services provided entirely by Trustee

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NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report (continued)

for the year ended 30 June 2021

Objectives and activities continued

Accordingly, our total income in 2020-21 was reduced to £116,850 compared with £221,159 in 20192020. Similarly, our charitable donations for work in Nepal was £115,895 compared with £214,974 in the previous year.

Nevertheless, NYF (UK) continued to sponsor the education and wellbeing of a group of about 20 students in Nepal through the generous monthly payments from a number of donors. During the financial year in question, we also received some very generous donations from a number of individuals. We would like to mention in particular the Slough Guides who have supported NYF over a number of years with fund raising activities. In 2020, they were due to travel to Nepal to see how their fantastic donations had been put to good effect. This visit had to be cancelled because of Covid and, instead, the guides made a wonderful donation to NYF of the £25,000 which had been reserved for the visit to Nepal.

We would like also to mention major donations from one of our Trustees, Ina Beeston and from one of our long-time supporters, Jesper Lyckeus. Our Trustee and Secretary, Gina Parker, was unable to take part in the 2021 Speed Project again because of Covid. This is a 340 mile (550km), non-stop, 48-hour team endurance running event from Los Angeles to Las Vegas. At the time of writing, she is competing in the 2022 event and, with generous matched funding from St James’s Place, she is set to raise over £50,000 for the charity. A fantastic achievement.

So, the Nepal Youth Foundation (UK) comes out of the pandemic in a different shape but still making significant contributions to help young people in Nepal with projects involving education, nutrition and housing. We have also generated funds specifically for Covid treatment in a country which was illprepared for the pandemic. We are continuing with our work and channelling the contributions of our fantastic supporters to help the people of Nepal.

Achievements and performance and public benefit

We maintain that the aims and objectives of the charity remain of public benefit as shown within the activities and performance below. The trustees consider that the objectives and activities of the charity are in accordance with the Charity Commissions' general guidance on public benefit.

We are pleased to say that with the assistance of our supporters, we will help to provide the following in Nepal:

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NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report (continued)

for the year ended 30 June 2021

Achievements and performance and public benefit continued

Financial Review

The results for the charity for the period are detailed on pages 5 to 11.

Reserves Policy and Risk Management

During the year we were able to expand our donor base, increase our regular donor numbers (through the child sponsorship programme), continue to bring in revenue from grants and foundations and explore new events. We feel this diversification of income contributes to the charity’s stable position and reduces any onus on individual donors.

Additionally, as a reassurance to donors, the team may provide reports prior to requesting further funds from individuals or organisations. These will be based on information acquired from Nepal Youth Foundation Nepal and where possible, visits to programmes made by the Trustees. The charity takes our responsibility, to ensure that funds donated are used exactly as anticipated, very seriously and donors will also be offered accompanied access to the programme they may have fully or partially

Given the recent pandemic, we have increased our reserve policy from three months' expenditure to six months. We will be sure to monitor this very carefully, as we still believe the very best use of our capital is on the ground in Nepal.

Approved by the Trustees on 15 April 2022.

SIMON RUSSELL GINA PARKER PETER RUSSELL

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Independent Examiner's Report to the Trustees of NEPAL YOUTH FOUNDATION (UK)

for the year ended 30 June 2021

I report to the charity on my examination of the accounts of the charity for the for the year ended 30 June 2021 which are set out on pages 5 to 11.

Respective responsibilities of trustees and examiner

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the

  2. the accounts do not accord with those records, or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

K.J. Maggs B.A., F.C.A. Moore Thompson Chartered Accountants Spalding

Date 26 April 2022

Page 4

NEPAL YOUTH FOUNDATION (UK)

Statement of Financial Activities

for the year ended 30 June 2021

----- Start of picture text -----
Year ended 30 June 2021 2020
Unrestricted Restricted Total Total
Note £ £ £ £
Income from:
Donations and Grants 28,070 84,875 112,945 211,226
Fund raising 1,350 - 1,350 -
Government grants - Covid-19 2,555 - 2,555 9,933
Total income 31,975 84,875 116,850 221,159
Expenditure on:
Charitable activities
Charitable donations 30,527 85,338 115,865 214,974
Fundraising event costs 434 - 434 5,923
Social enterprise costs 428 - 428 2,285
Online payment platform costs 3,388 - 3,388 2,945
Salaries and social security costs 15,453 - 15,453 55,129
Pensions 285 - 285 1,145
PR, marketing and advertising 90 - 90 155
Postage and delivery - - - 39
Communications 12 - 12 84
Stationery - - - 43
IT costs - - - 188
Travel costs (3,362) - (3,362) 46
Bank charges 248 - 248 74
Insurance 469 - 469 463
Accountancy and payroll fees 2,703 - 2,703 3,576
Depreciation 55 - 55 74
Sundries 58 - 58 105
50,788 85,338 136,126 287,248
Total expenditure 50,788 85,338 136,126 287,248
Net expenditure (18,813) (463) (19,276) (66,089)
Transfers between funds 6 (2,163) 2,163 - -
Net movement in funds (20,976) 1,700 (19,276) (66,089)
Reconciliation of funds:
Fund balances at 1 July 2020 29,872 1,260 31,132 97,221
Fund balances at 30 June 2021 6 8,896 2,960 11,856 31,132
----- End of picture text -----

The notes on pages 7 - 11 form a part of these accounts.

Page 5

NEPAL YOUTH FOUNDATION (UK)

Statement of Financial Position

at 30 June 2021

----- Start of picture text -----
30 June 2021 2020
Unrestricted Restricted Total Total
Note £ £ £ £
NON-CURRENT ASSETS
Fixed assets 5 167 - 167 222
CURRENT ASSETS
Cash funds:
Current accounts 9,428 3,049 12,477 29,319
9,595 3,049 12,644 29,541
Other current assets:
Prepayments and accrued income 305 - 305 3,510
Other debtors 1,216 - 1,216 -
TOTAL CURRENT ASSETS 11,116 3,049 14,165 33,051
CURRENT LIABILITIES
Taxation and social Security - - - (810)
Accruals and deferred income (2,220) (89) (2,309) (1,109)
(2,220) (89) (2,309) (1,919)
NET CURRENT ASSETS 8,896 2,960 11,856 31,132
Restricted funds 6 - 2,960 2,960 1,260
Unrestricted funds 6 8,896 - 8,896 29,872
8,896 2,960 11,856 31,132
----- End of picture text -----

These financial statements were approved and authorised for issue by the Trustees on 15 April 2022 and signed on their behalf by:

Simon Russell Trustee

Gina Parker Trustee

The notes on pages 7 - 11 form a part of these accounts.

Page 6

for the year ended 30 June 2021

NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts

1 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below.

(a) Basis of preparation of the financial statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) issued on 16 July 2017 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements are prepared on a going concern basis and are presented in sterling which is the functional currency of the charity.

(b) Cashflow statement

The charitable company has elected to take advantage of small company provisions and not prepare a cashflow statement.

(c) Income recognition

All income is recognised in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is categorised under the headings recorded in the Statement of Financial Activities.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Page 7

NEPAL YOUTH FOUNDATION (UK)

for the year ended 30 June 2021

Notes to the Accounts (continued)

1 Accounting Policies (Continued)

(e) Definition of Funds

Unrestricted funds are those available for use at the discretion of the Trustees in the furtherance of the objects of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements

(f) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer equipment

(g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the next 12 months from authorising the financial statements.

(i) Judgements and key sources of estimation uncertainty

There are no significant judgements or estimations which have been made in the process of applying the above accounting policies, other than usual cut off judgements included in prepayments, accruals and deferred income.

(j) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(k) Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

2 Independent examiners fees

The following amount was payable for the independent examination of the accounts of the charity:

Independent examination fees 2021
£
1,158		 2020
£
1,109

3 Related party transactions

The charity is controlled by the trustees as a body and no individual does or could exert control.

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2021

4 Trustees' remuneration and expenses

No remuneration directly or indirectly out of the funds of the charity was paid or payable for the period to any trustee or to any person or persons known to be connected to them.

No charitable expenditure has been incurred by the Trustees on behalf of the charity and reimbursed to the Trustees by the charity during the period

5 Tangible fixed assets

Cost
At 1 July 2020
At 30 June 2021
Depreciation
At 1 July 2020
Charge for year
At 30 June 2021
Net book value
At 1 July 2020
At 30 June 2021		 Computer
equipment
£
330
330
108
55
163
222
167		 Total
£
330
330
108
55
163
222
167

6 Funds

Unrestricted funds
General fund
Restricted funds
Ankura Counselling Centre
Sanjani Covid-19 Programme
Covid-19 Laptops
Hot meals Covid-19
Intensive Care Unit
Kinship Care
NRH
Olgapuri Children's Village
Day School Program
MSPN New Life Centre
VTFK
College Sponsorship
Nutrition Outreach Camp		 At 1 July
2020
£
29,872
-
(428)
-
-
-
-
10
1,041
325
6
137
169
-
1,260
31,132		 £
31,975
10,030
8,340
1,735
200
2,930
3,213
-
47,365
803
1,090
1,699
2,470
5,000
84,875
116,850
Incoming
Resources		 £
(50,788)
(10,000)
(8,950)
(1,763)
(200)
-
(3,213)
(10)
(49,503)
(1,128)
(1,096)
(1,836)
(2,639)
(5,000)
(85,338)
(136,126)
Outgoing
Resources		 At 30 June
Transfers
2021
£
£
(2,163)
8,896
-
30
1,038
-
28
-
-
-
-
2,930
-
-
-
-
1,097
-
-
-
-
-
-
-
-
-
-
-
2,163
2,960
-
11,856

Page 9

NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2021

7 Fund Comparatives

Unrestricted funds
General fund
Restricted funds
Sanjani Covid-19 Programme
NRH
Vocational School
Olgapuri Children's Village
Day School Program
MSPN Child Sponsorship
MSPN New Life Centre
VTFK
College Sponsorship
Hummingbird
Nutrition Outreach Camp		 At 4 July
2019
£
37,221
-
-
-
-
-
-
-
-
-
60,000
-
60,000
97,221		 £
176,426
3,800
352
9,900
11,693
10,679
700
606
1,102
1,501
-
4,400
44,733
221,159
Incoming
Resources		 £
(183,774)
(4,228)
(342)
(9,900)
(10,652)
(10,354)
(700)
(600)
(965)
(1,332)
(60,001)
(4,400)
(103,474)
(287,248)
Outgoing
Resources		 Transfers
£
(1)
-
-
-
-
-
-
-
-
-
1
-
1
-		 At 30 June
2020
£
29,872
(428)
10
-
1,041
325
-
6
137
169
-
-
1,260
31,132

8 Fund descriptions

Ankura Counselling Centre - The money donated to this fund goes towards …..................

Sanjani Covid 19 Programme - This is to provide resources and facilities to support those suffering as a result of the Covid -19 Pandemic.

Covid-19 Laptops - The money donated to this fund was to assist the charity with acquiring laptops to enable staff to work from home during the pandemic.

Hot meals Covid-19 - The money donated to this fund goes towards funding hot meals for where thye have not been able to work due to the pandemic.

Intensive Care Unit - The money donated to this fund goes towards a specialist unit within the current set up for urgent and more serious issues.

Kinship Care - The money donated to this fund goes towards those beneficiaries with scholarship recipients and families receiving Kinship Care stipends to ensure they are safe, well-fed, and continuing their education as best they can.

NRH - This fund is for the running costs of our Nutritional Rehabilitation Homes (NRH).

Vocational School - These funds have been used in the operational costs or our Olgapuri Vocational classrooms that NYF rebuilt. There was a transfer of £4,547 during the year from unrestricted funds regarding the proportion of RTTS fund income that was split and allocated to the Vocational School fund.

Page 10

NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2021

9 Fund descriptions

Olgapuri Vocational Training School - This fund is for construction costs for our pioneering vocational training schools in Kathmandu.

Day School Program - Scholarship fund for children attending day school.

MSPN Child Sponsorship - The money donated to this fund goes towards living, medical and educational expenses for NYF children. These are children that have been assessed and confirmed as suffering financial hardship and require NYF's help. Each sponsor pays for specific child's expenses.

MSPN New Life Centre - This fund supports our pioneering New Life Centre. The Centre provides treatment and care with transitional shelter facility for HIV-Positive children and their caretakers, most of whom are infected mothers.

VTKF - This is vocational training for Freed Kamlaris. This fund provides vocational training specifically for freed female child slaves.

College Sponsorship - This fund provides a child with the means to earn a college degree, which is usually the only way destitute youth can begin to build a decent career. NYF gives priority to women, the disabled, and applicants of low-caste, who are severely disadvantaged in Nepali society.

Hummingbird Fund - This fund aims to advance the education of people living in rural communities by supporting access to basic information, building, curriculum development, availability of resources, specialist teachers and teaching professionals.

Nutrition Outreach Camp - This is our community nutrition project that provides our malnutrition prevention service to rural communities that do not have access to the NRH's.

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