## **NEPAL YOUTH FOUNDATION (UK) CHARITY COMMISSION REGISTERED NO. 1182261 FINANCIAL STATEMENTS** **for the year ended** **30 June 2023** **NEPAL YOUTH FOUNDATION (UK)** ## **Index** ## **for the year ended 30 June 2023** ## **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 ## **NEPAL YOUTH FOUNDATION (UK)** ## **Trustees' Annual Report** ## **for the year ended 30 June 2023** 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 2023. 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 Resigned as Trustee 30 June 2023 ## **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. 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. Funds raised will help provide Education, Health, Shelter, and Freedom to thousands of Nepali children each year and our Nepali led holistic programs are empowering a rising generation: - **Education** builds confidence, fosters innovation, and unlocks paths to financial stability. From kindergarteners in rural schoolhouses to medical students in Kathmandu’s universities, to tradespeople seeking new skills, we’re providing scholarships and career-building support to thousands of Nepal’s young people annually. Page 1 **NEPAL YOUTH FOUNDATION (UK)** **for the year ended 30 June 2023** ## **Trustees' Annual Report (continued)** ## **Objectives and activities continued** - **Health** - Growing bodies and developing minds require care. The smallest adjustments can transform the trajectory of an entire life. At our Nutritional Rehabilitation Home, New Life Center, and Ankur Counseling Center, we’re offering families and children support to build strength and engage curiosity to pursue their dreams. - Especially for children, **shelter** means safety: physically, emotionally, and psychologically. Loving shelter provides the foundation for healthy adulthood. Providing this holistic stability for children through Olgapuri Children’s Village or Kinship Care allows them to focus on the incredible work of becoming their full selves. - **Freedom** - Whether freeing girls from slavery or dismantling systems of oppression, NYF is breaking down barriers separating Nepal’s children from a prosperous future. Join us in connecting communities with healthcare and education, supporting careers that are building Nepal’s infrastructure, and helping the rising generation thrive! During the 2020 through 2022 period, 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. From a low point at the end of the pandemic, income in 2022-23 rose to £207,095 which allowed NYF (UK) to contribute a total of £237,229 for use on projects in Nepal. We would also like to acknowledge the generous donations from The Capital Group LLC which double matched significant funding from Jesper Lyckeus. In addition, Lesley Wagg, Caroline Bilborough and the Slough Guides continue to provide funds for Christmas presents for disadvantaged children. During the last year, the Guides had a specific project to raise funds for a shelter for a handicapped family. We would also like to thank the 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. A particular thank you goes to Marie O’Shea has just completed a long-term sponsorship of a young man through his schooling and university studies. It was very pleasing to know that Ramesh had qualified in restaurant management and is now working in the catering business. As a result of the above works, we donated over £230,000 for project work 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 -  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. -  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. Page 2 **NEPAL YOUTH FOUNDATION (UK)** ## **Trustees' Annual Report (continued)** ## **for the year ended 30 June 2023** ## **Future developments** During December 2023, in conjunction with Nepal Youth Foundation in Nepal, have launched our Caste Equality Project. This is a long-term project is our most ambitious and daring undertaking yet. Our goal is to empower Nepali Dalit communities to access the opportunities and resources they need to build towards the futures they envision for themselves and their children. Members of Dalit castes, historically labeled as “untouchable” across South Asia, still face tremendous systemic discrimination, exploitation, and societal exclusion. ## **Financial Review** The results for the charity for the period are detailed on pages 5 to 11. ## **Reserves Policy and Risk Management** Following the Covid pandemic, we 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. We still believe six months is reasonable. As we currently employ no staff the reserves required are fairly low at £1,100 due to the level of this and the cost of winding the charity up, the trustees opinion was that the reserves figure should be £2,000 higher at £3,100. The excess funds available amounting to approximately £33,000 will be granted, with other funds to Nepal in the near future. Approved by the Trustees on **23 January 2024.** ## **Gina Parker** Secretary Page 3 **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 2023, 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: - accounting records were not kept in respect of the charity as required by section 130 of the - 1. Act; or 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. Chartered Accountant Spalding Date: **23 January 2024** .. Page 4 **NEPAL YOUTH FOUNDATION (UK)** ## **Statement of Financial Activities** ## **for the year ended 30 June 2023** **----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
Note £ £ £ £
Income from:
Donations and Grants 70,313 45,450 115,763 49,812
Fund raising 91,332 - 91,332 24,982
Total income 161,645 45,450 207,095 74,794
Expenditure on:
Charitable activities
Charitable donations 181,929 55,300 237,229 15,573
Online payment platform costs 312 - 312 1,895
PR, marketing and advertising 104 - 104 359
IT costs - - - (1,632)
Bank charges 78 - 78 142
Insurance - - - 305
Accountancy fees 1,540 - 1,540 1,763
Depreciation 21 - 21 82
Sundries 135 - 135 35
Total expenditure 184,119 55,300 239,419 18,522
Net (expenditure) / income (22,474) (9,850) (32,324) 56,272
Transfers between funds 6 (825) 825 - -
Net movement in funds (23,299) (9,025) (32,324) 56,272
Reconciliation of funds:
Fund balances at 1 July 2022 59,103 9,025 68,128 11,856
Fund balances at 30 June 2023 6 35,804 - 35,804 68,128
**----- 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 2023** **----- Start of picture text -----**
2023 2022
Unrestricted Restricted Total Total
Note £ £ £ £
NON-CURRENT ASSETS
Fixed assets 5 64 - 64 85
CURRENT ASSETS
Cash funds:
Bank current accounts 37,280 - 37,280 69,578
37,280 - 37,280 69,578
Other current assets:
Prepayments and accrued income - - - -
Accrued income - - - -
Other debtors - - - -
TOTAL CURRENT ASSETS 37,280 - 37,280 69,578
CURRENT LIABILITIES
Accruals and deferred income (1,540) - (1,540) (1,535)
NET CURRENT ASSETS 35,740 - 35,740 68,043
TOTAL ASSETS LESS LIABILITIES 35,804 - 35,804 68,128
Funds
Unrestricted funds 6 35,804 - 35,804 59,103
Restricted funds 6 - - - 9,025
35,804 - 35,804 68,128
**----- End of picture text -----**
These financial statements were approved and authorised for issue by the Trustees on **23 January 2024** and signed on their behalf by: **Simon Russell** Chairman **Peter Russell** Treasurer The notes on pages 7 - 11 form a part of these accounts. Page 6 **NEPAL YOUTH FOUNDATION (UK)** **for the year ended 30 June 2023** ## **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 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. Page 7 **NEPAL YOUTH FOUNDATION (UK)** **for the year ended 30 June 2023** ## **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 - 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|**2023**
**£**
990|2022
£
990| |---|---|---| ## **3 Related party transactions** The charity is controlled by the trustees as a body and no individual does or could exert control. Page 8 **NEPAL YOUTH FOUNDATION (UK) Notes to the Accounts (continued)** **for the year ended 30 June 2023** ## **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 2022, and at 30 June 2023
**Depreciation**
At 1 July 2022
Charge for year
At 30 June 2023
**Net book value**
At 30 June 2022
At 30 June 2023|**Computer**
**equipment**
**£**
330
245
21
266
85
64|**Total**
**£**
330
245
21
266
85
64| |---|---|---| ## **6 Funds** |**Unrestricted funds**
General fund
**Restricted funds**
Ankura Counselling Centre
Child Sponsorship
Intensive Care Unit
Kinship Care
Olgapuri Children's Village
Rural Women's Development
and Unity Centre|**£**
59,103
30
1,000
2,930
89
-
4,976
9,025
68,128
**At 1 July**
**2022**|**£**
161,645
-
11,350
-
-
31,250
2,850
45,450
207,095
**Incoming**
**Resources**|**£**
(184,119)
-
(12,350)
-
(100)
(35,000)
(7,850)
(55,300)
(239,419)
**Outgoing**
**Resources**|**Transfers**
**£**
(825)
(30)
-
(2,930)
11
3,750
24
825
-|**£**
35,804
-
-
-
-
-
-
-
35,804
**At 1 July**
**2022, and**| |---|---|---|---|---|---| Page 9 **NEPAL YOUTH FOUNDATION (UK)** ## **Notes to the Accounts (continued)** ## **for the year ended 30 June 2023** ## **7 Fund Comparatives** |Unrestricted funds
**General fund**
**Restricted funds**
Ankura Counselling Centre
Christmas Gifts
Intensive Care Unit
Kinship Care
Child Sponsorship
Rural Women's Development
and Unity Centre|**£**
8,896
30
-
2,930
-
-
-
2,960
11,856
**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
-|**£**
59,103
30
-
2,930
89
1,000
4,976
9,025
68,128
**At 30 June**
**2022**| |---|---|---|---|---|---| ## **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. **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. Page 10 **NEPAL YOUTH FOUNDATION (UK)** ## **Notes to the Accounts (continued)** ## **for the year ended 30 June 2023** ## **9 Fund descriptions** **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 2022**
**£**
**Income from:**
Donations and Grants
33,223
Fund raising
24,982
**Total income**
58,205
**Expenditure on:**
**Charitable activities**
Charitable donations
5,021
Online payment platform costs
1,895
PR, marketing and advertising
359
Bank charges
142
Insurance
305
Accountancy and payroll fees
1,763
Depreciation
82
Sundries
35
**Total expenditure**
7,970
**Net expenditure**
50,235
**Transfers between funds**
(28)
**Net movement in funds**
50,207
**Reconciliation of funds:**
Fund balances at 1 July 2021
8,896
**Fund balances at 30 June 2022**
**59,103**
**Unrestricted**|**£**
16,589
-
16,589
10,552
-
-
-
-
-
-
-
10,552
6,037
28
6,065
2,960
**9,025**
**Restricted**|**Total**
**£**
49,812
24,982
74,794
15,573
1,895
359
142
305
1,763
82
35
18,522
56,272
-
56,272
11,856
**68,128**| |---|---|---| Page 11