2022-06-30-accounts - Nepal Youth Foundation (UK)

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

for the year ended

30 June 2022

NEPAL YOUTH FOUNDATION (UK)

Index

for the year ended 30 June 2022

INDEX

1 - 3 Trustees' Annual Report
4 Independent Examiner's Report
5 Statement of Financial Activities
6 Statement of Financial Position
7 - 11 Notes to the Accounts

for the year ended 30 June 2022

NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report

The trustees, who are also directors for the purposes of the Companies Act, present their report with the financial statements for the year ended 30 June 2022. 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), 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 children, 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.

In 2020-21, NYF (UK) was significantly affected by the Covid 19 pandemic and has continued since with no paid staff with the work being carried out entirely by the Trustees on a voluntarily basis. Total income in 2021-22 dropped to £74,794 from £116,850 in 2020-21. However, this does not give a complete picture because the funds raised by Gina Parker in the March 2022 Speed Project in the USA did not reach our bank account until the 2022-23 financial year. The income from the Speed Project was over £78,000 including generous matched funding from the St James’s Place Foundation.

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NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report (continued)

for the year ended 30 June 2022

Objectives and activities continued

We would also like to acknowledge continuing generous donations from Lesley Wagg, Caroline Bilbrough and the fantastic Slough Guides. Their contributions included a major donation for the Rural Women’s Development and Unity Centre and a specific donation to buy Christmas presents for the children under NYF’s care in Nepal. Other significant donors included the Clare Family Trust and the Grange School, Hartford, Cheshire. Plans by the Grange School to take a group of students to Nepal were thwarted by Covid and the School very kindly donated over £4,000 of their travel funds to NYF (UK). We are very grateful and we hope you all get to Nepal one day soon.

We would also like to thank a group of eleven individuals who send monthly donations to sponsor individual students in Nepal. In return, we send the sponsors six monthly updates on the students’ progress with appreciative letters and photographs from the students.

As a result of these donations, we donated almost £25,000 in 2021-22 for project work in Nepal. Again, this figure is artificially low because, partly from the Speed Project funds which were actually raised in 2021-22, we sent out £140,000 to NYF (USA) later in 2022 for direct use in 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:

 A nurturing and loving home to children who are in need of an extended family, to provide them with all they need to grow up to be healthy and happy young adults.
 Kinship care, day school and college scholarships; providing essential funding to families so that they can provide all the essentials for the children in their care or whilst children are at college - food, clothing, educational equipment, health care costs etc.
 Vocational training for women wanting to start their own businesses and needing an income to provide for their families. These women are overcoming huge obstacles to begin their careers, as they were all sadly, former child slaves.
 Essential residential support for children living with HIV/AIDs.
 A nutritional outreach camp where approximately 500 children will be screened for malnutrition and receive a medical check-up from a doctor along with free medicines and vitamins).
 Vocational scholarships for children wanting to learn a trade and secure a career in fields such as plumbing and electrics.
 Hot, nutritious meals for children during the Covid-19 pandemic.
 Providing food and essential hygiene supplies to young families in western Nepal, suffering during the Covid-19 pandemic.

Financial Review

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

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NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report (continued)

for the year ended 30 June 2022

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 funded.

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 27 March 2023.

SIMON RUSSELL GINA PARKER PETER RUSSELL

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Independent Examiner's Report to the Trustees of

NEPAL YOUTH FOUNDATION (UK)

I report to the charity on my examination of the accounts of the charity for the for the year ended 30 June 2022, 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

Since the charity's gross income exceeded £250,000 the charity's examination must be by a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

accounting records were not kept in respect of the charity as required by section 130 of the Act;
1. or
the accounts do not accord with those records, or
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. Chartered Accountant Spalding

Date: 27 March 2023

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NEPAL YOUTH FOUNDATION (UK)

Statement of Financial Activities

for the year ended 30 June 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
Note £ £ £ £
Income from:
Donations and Grants 33,223 16,589 49,812 112,945
Fund raising 24,982 - 24,982 1,350
Government grants - Covid-19 - - - 2,555
Total income 58,205 16,589 74,794 116,850
Expenditure on:
Charitable activities
Charitable donations 5,021 10,552 15,573 115,865
Fundraising event costs - - - 434
Social enterprise costs - - - 428
Online payment platform costs 1,895 - 1,895 3,388
Salaries and social security costs - - - 15,453
Pensions - - - 285
PR, marketing and advertising 359 - 359 90
Communications - - - 12
IT costs (1,632) - (1,632) -
Travel costs - - - (3,362)
Bank charges 142 - 142 248
Insurance 305 - 305 469
Accountancy and payroll fees 1,763 - 1,763 2,703
Depreciation 82 - 82 55
Sundries 35 - 35 58
Total expenditure 7,970 10,552 18,522 136,126
Net income / (expenditure) 50,235 6,037 56,272 (19,276)
Transfers between funds 6 (28) 28 - -
Net movement in funds 50,207 6,065 56,272 (19,276)
Reconciliation of funds:
Fund balances at 1 July 2021 8,896 2,960 11,856 31,132
Fund balances at 30 June 2022 6 59,103 9,025 68,128 11,856
----- End of picture text -----

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

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NEPAL YOUTH FOUNDATION (UK)

Statement of Financial Position

at 30 June 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Total
Note £ £ £ £
NON-CURRENT ASSETS
Fixed assets 5 85 - 85 167
CURRENT ASSETS
Cash funds:
Bank current accounts 60,553 9,025 69,578 12,477
Other current assets:
Prepayments and accrued income - - - 305
Other debtors - - - 1,216
TOTAL CURRENT ASSETS 60,553 9,025 69,578 13,998
CURRENT LIABILITIES
Accruals and deferred income (1,535) - (1,535) (2,309)
NET CURRENT ASSETS 59,018 9,025 68,043 11,689
TOTAL ASSETS LESS LIABILITIES 59,103 9,025 68,128 11,856
Funds
Unrestricted funds 6 59,103 - 59,103 8,896
Restricted funds 6 - 9,025 9,025 2,960
59,103 9,025 68,128 11,856
----- End of picture text -----

These financial statements were approved and authorised for issue by the Trustees on 27 March 2023 and signed on their behalf by:

Simon Russell

Trustee

Gina Parker

Trustee

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

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts

for the year ended 30 June 2022

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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

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.

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2022

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

25% reducing balance

(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	2022 £ 990	2021 £ 1,170

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 2022

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 2021 Additions Disposals At 30 June 2022 Depreciation At 1 July 2021 Charge for year Depreciation on disposal At 30 June 2022 Net book value At 1 July 2021 At 30 June 2022	Computer equipment £ 330 - - 330 163 82 - 245 167 85	Total £ 330 - - 330 163 82 - 245 167 85

6 Funds

Unrestricted funds General fund Restricted funds Ankura Counselling Centre Christmas Gifts Intensive Care Unit Kinship Care MSPN Child Sponsorship Rural Women's Development and Unity Centre	£ 29,872 30 - 2,930 - - - 2,960 32,832 At 1 July 2021	£ 58,205 - 500 - 89 1,000 15,000 16,589 74,794 Incoming Resources	£ (7,970) - (528) - - (10,024) (10,552) (18,522) Outgoing Resources	Transfers £ (28) - 28 - - - - 28 -	£ 80,079 30 - 2,930 89 1,000 4,976 9,025 89,104 At 30 June 2022

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2022

7 Fund Comparatives

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	£ 29,872 - (428) - - - - 10 1,041 325 6 137 169 - 1,260 31,132 At 1 July 2020	£ 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	Transfers £ (2,163) - 1,038 28 - - - - 1,097 - - - - - 2,163 -	£ 8,896 30 - - - 2,930 - - - - - - - - 2,960 11,856 At 30 June 2021

8 Fund descriptions

Ankura Counselling Centre - The money donated to this fund specifically goes towards the centre.

Christmas Gifts - This represents funds received from Slough Guides in acknowledgement of what they may receive in order to provide Christmas Gifts for the children in Nepal who are less privileged.

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 they 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).

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.

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2022

9 Fund descriptions

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.

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.

Rural Women's Development and Unity Centre - This fund aims to advance development within the rural communities' female population with the provision of a Unity Centre.

10 Comparative - Statement of Financial activities

For the year ended 30 June 2021 £ Income from: Donations and Grants 28,070 Fund raising 1,350 Government grants - Covid-19 2,555 Total income 31,975 Expenditure on: Charitable activities Charitable donations 30,527 Fundraising event costs 434 Social enterprise costs 428 Online payment platform costs 3,388 Salaries and social security costs 15,453 Pensions 285 PR, marketing and advertising 90 Communications 12 Travel costs (3,362) Bank charges 248 Insurance 469 Accountancy and payroll fees 2,703 Depreciation 55 Sundries 58 Total expenditure 50,788 Net expenditure (18,813) Transfers between funds (2,163) Net movement in funds (20,976) Unrestricted	£ 84,875 - - 84,875 85,338 - - - - - - - - - - - - - 85,338 (463) 2,163 1,700 Restricted	Total £ 112,945 1,350 2,555 116,850 115,865 434 428 3,388 15,453 285 90 12 (3,362) 248 469 2,703 55 58 136,126 (19,276) - (19,276)

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