2024-06-30-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 2024

NEPAL YOUTH FOUNDATION (UK)

Index

for the year ended 30 June 2024

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 2024

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 2024. 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

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.

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NEPAL YOUTH FOUNDATION (UK)

Trustees' Annual Report (continued)

for the year ended 30 June 2024

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!

The trustees are pleased to announce that during the year, NYF (UK) has continued with no paid staff with the work being carried out entirely by the Trustees on a voluntarily basis and they have been able to increase income to £273,352 (2023 - £207,095), which allowed NYF (UK) to contribute a total of £298,832 (2023 - £237,229) for use on the projects in Nepal.

We would also like to acknowledge the generous donations from The St. James’s Place Charitable Foundation. In addition, Lesley Wagg, Caroline Bilborough and the Slough Guides continue to provide funds for Christmas presents for disadvantaged children. In addition, considerable funds were raised through the Speed Project in the USA through generous sponsorship and natched funding from the St James’s Place Foundation.

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.

As a result of the above works, we donated almost £300,000 for the 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.

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NEPAL YOUTH FOUNDATION (UK)

for the year ended 30 June 2024

Trustees' Annual Report (continued)

Future developments

During December 2023, in conjunction with Nepal Youth Foundation in Nepal, we 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 2020 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 £3,200 due to the level of working capital required and the cost of ensuring that the charity can support its beneficiaries, the trustees opinion was that the reserves figure should be £2,000 higher at £5,200 to enable the charity to meet its requirments to check how funding is spent.

The excess funds available amounting to approximately £3,000 will be granted, with other funds to Nepal in the near future.

Approved by the Trustees on 18 March 2025.

Gina Parker

Secretary

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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 2024, 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
1. Act; 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: 18 March 2025 .

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NEPAL YOUTH FOUNDATION (UK)

Statement of Financial Activities

for the year ended 30 June 2024

----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
Note £ £ £ £
Income from:
Donations and Grants 194,357 16,150 210,507 115,763
Fund raising 61,845 - 61,845 91,332
Total income 256,202 16,150 272,352 207,095
Expenditure on:
Charitable activities
Charitable donations 277,654 16,178 293,832 237,229
Fundraising event costs 3,132 - 3,132 -
Online payment platform costs 1,347 - 1,347 312
PR, marketing and advertising 104 - 104 104
Bank charges 7 - 7 78
Accountancy fees 1,725 - 1,725 1,540
Depreciation 64 - 64 21
Sundries 35 - 35 135
284,068 16,178 300,246 239,419
Total expenditure 284,068 16,178 300,246 239,419
Net expenditure (27,866) (28) (27,894) (32,324)
Transfers between funds 6 (28) 28 - -
Net movement in funds (27,894) - (27,894) (32,324)
Reconciliation of funds:
Fund balances at 1 July 2023 35,804 - 35,804 68,128
Fund balances at 30 June 2024 6 7,910 - 7,910 35,804
----- 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 2024

----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
Note £ £ £ £
NON-CURRENT ASSETS
Fixed assets 5 - - - 64
CURRENT ASSETS
Cash funds:
Bank current accounts 9,510 - 9,510 37,280
TOTAL CURRENT ASSETS 9,510 - 9,510 37,280
CURRENT LIABILITIES
Accruals and deferred income (1,600) - (1,600) (1,540)
NET CURRENT ASSETS 7,910 - 7,910 35,740
TOTAL ASSETS LESS LIABILITIES 7,910 - 7,910 35,804
Funds
Unrestricted funds 6 7,910 - 7,910 35,804
Restricted funds 6 - - - -
7,910 - 7,910 35,804
----- End of picture text -----

These financial statements were approved and authorised for issue by the Trustees on 18 March 2025 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 2024

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.

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NEPAL YOUTH FOUNDATION (UK)

for the year ended 30 June 2024

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	2024 £ 1,030	2023 £ 990

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 2024

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 2023, and at 30 June 2024 Depreciation At 1 July 2023 Charge for year At 30 June 2024 Net book value At 30 June 2023 At 30 June 2024	Computer equipment £ 330 266 64 330 64 -	Total £ 330 266 64 330 64 -

6 Funds

Unrestricted funds General fund Restricted funds Child Sponsorship Rural Women's Development and Unity Centre	£ 35,804 - - - 35,804 At 1 July 2023	£ 256,202 10,650 5,500 16,150 272,352 Incoming Resources	£ (284,068) (10,650) (5,528) (16,178) (300,246) Outgoing Resources	Transfers £ (28) - 28 28 -	£ 7,910 - - - 7,910 At 30 June 2024

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NEPAL YOUTH FOUNDATION (UK)

Notes to the Accounts (continued)

for the year ended 30 June 2024

7 Fund Comparatives

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 30 June 2023

8 Fund descriptions

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

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.

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.

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

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NEPAL YOUTH FOUNDATION (UK) Notes to the Accounts (continued)

for the year ended 30 June 2024

9 Fund descriptions

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 2023 £ Income from: Donations and Grants 70,313 Fund raising 91,332 Total income 161,645 Expenditure on: Charitable activities Charitable donations 181,929 Online payment platform costs 312 PR, marketing and advertising 104 Bank charges 78 Insurance - Accountancy and payroll fees 1,540 Depreciation 21 Sundries 135 Total expenditure 184,119 Net expenditure (22,474) Transfers between funds (825) Net movement in funds (23,299) Reconciliation of funds: Fund balances at 1 July 2022 59,103 Fund balances at 30 June 2023 35,804 Unrestricted	£ 45,450 - 45,450 55,300 - - - - - - - 55,300 (9,850) 825 (9,025) 9,025 - Restricted	Total £ 115,763 91,332 207,095 237,229 312 104 78 - 1,540 21 135 239,419 (32,324) - (32,324) 68,128 35,804

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