ALSAMA PROJECT Privote Compony Limited by Guoronlee Ch¢Jrity Registration No.. 1191810 Company Regislration No.. 12433605 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ALSAMA PROJECT NN RT AN FINAN IA TATEME THE YEAR ENDED I DE EMBER 2 CONTENTS Reference and adminislrative details Trustees, report 4-11 Independenl exominer's report stotement of financial activities 13 Balance sheet Statement of Cosh Flows 15 Notes to the financial slatements 16-21
ALSAMA PROJECT FEIEN AND Nl nv Al THE YEAR ENDED I DE EMBER 2 Prlvate Company Llmlled by Guaranlee Charlty number: 1191810 Company number. 12433605 Prlnclpal office and reglsleied offlce address: 51h Floor. 30-31 Fumivol Street. London EC4A I JQ Tiust••s The Irustees who served during the period and since the perw)d-end were as follows: Meike Ziervogel Elizobelh Mory Robertson Richard Verilv cLS1Opher John Lindsay Teesdale Suhw Helol Dr Paul Mitchell Kelish Potholingom Independent •xamln•r Jamielee Johnston of Mitchell Chodesworth. 44 Peter Street. Monchester. M2 5GP Bonk Bonque Bonorienl Fronce, 193-195 Bromplon Rood. London. SW3 1 LZ Sollcllor (pio bono) Skadden, Arps, Slate, Meagher & Flom IUKI LLP, 22 Bishopsgate, London. EC2N 4BQ
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees presenl theK rewt logether vAlh Ihe ffjnanciol statements lor the yeor ended 31 December 2023. The financiol slalemenls hove been weped in OCC¢ydon¢e with the occ¢JJnling policie5 sel ovt In the notes to the occounls ond cOmY wth Ihe chorsty's goveming document. the Chafilies Acl 2011 and Accounting ond ReprIn0 by ClntIes. Stotemenl ot Recommended Proclice applicab to charities prep(ng thew acco¢Jnts in accordonce wth the Financial Reporting Slandord ooFAicoble in the UK ond Republic of trelond issved in October 2019. Flnanclal revlew, achlevements, performance and future plans Hist¢Xy Alsomo Project begorb OS a smdl femob empoweffnent centre in Jonvary 2020. providlng oworeness, cricket ond yogo sessions lo leenoge in Shotikn refugee camp. These gids were living in poverty. vulneroble lo eorly morriage. and were olmosl all illilerale. 11 was Ihe¥ request lo learn Arobic, English and bLsdgeling Ihol compelled Meike Iiervogel and Kodria Hussein lo establish A15amo'5 fr5t educat1 centre in ))21. EdK¢thon Centres Alsoma Project ¢wen1 runs four edvcotI centres. two in Shotilo comp ond Iwo in Boury ol Borojneh camp. Ourstudenls (re out-of-scho relvgee leer95, Ihe molty of whom are lemole. In December 22. A150mo Protr1 wos eclvcoling 4C(I leenogers in fvlo centres. In April 2023. we opened our third cenfre. 'Shotdo 2.. and in FebILry 3)24 we opened OLW fourth cenlre. 'Bouri 2,. Now. wilh 220 5tudcnts in coch cenlTe. Alsoma cvrrcntly edvcote$ 880 tccnogcr5. Alsgwo has 0 5- year plon lo open 9 cenlres by 2027.. we oin to open a fffth centre in 3Y25. Th• Alwma T•orn op?nlng •ovrJ I F•bruary 2024
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 Curriculvm Developrnenl 11 is o significonl challervae lo edvcote oul-of-schoc4 teenogews who ioin $0m0 illiterate and innumerote. Alsamo's cvrriculum has been specioty deygned lo fil 12 years ol slondard schooling into 6 yea. Our curriculum hos been designed using 4 inpuls: inlemotionol slondords. inlemol expert15e, exlerrKJI consultation. ond slvdenl feedback. A15ama Prcl aims to provKY8 a worldo105s. hdi5tic educalion. rothw Itn t)0C lilèrocy ond nvmerocy. Students study Molhs. English. Arobic. Th. ScnCe. Profession05m. Aworeness. Critical Ihinking. Art and Yogo. Lessons are focused on 'reol-h'le opplication, to keep students engaged. Susloinabifity Our education system is consislenl ond susloinoe. We leoctt for 5 days o week. 44 weeks o yeor. Thi5 15 achieved ol o low cost.. our 'per slvclenl. onnud cos1 i% US$940. 83% 01 Ihe gk)bal overage. We are curyenly seeking Icm01 schoc4 occr8dilotM)n. This meons Ihol our sluoenls wll graduole th on international ¢¢¢rodilotion. olovmg Ihom to purwe hi9hor •d0110n c ontsy the prolosyon¢l lobs markel. A150mo is d8eply emb6dd6d inlo Its Communit5. 96% of paid slall ore locol. ond we oller employmenl opportunities lo lop sILentS. We rKovide oworeness. empowemenl. and literacy closses to parents. Alsama operoles under the proleclH?n ol ils comp neighbcLJrs.' we re5pecl locol xp¢clotKJns ond hove esloblished mvlvol ITVSI. This ensvres Cent5, low¢Yity. A woiting lill OF 2.73) Pfospeclive sludenls demonstrotes 0 community suppcl. lj ExlrocLryriculor DeveloK¥nent somo recognws the ptonCe ol extrocw1cu1 octivities n creolng wel-rounded. 8mpowered ndivicluols. Mu51C In September 23. Alsor opened ils Music deportrnent. Al Ihe lime ol vrtiling. 400 stvdenls receive one group mvsr le55on per week. Alsomo 0150 offers in5trymientol le550n5 on piano. guitor. violin ond derboké to 101 students. Our MUS prowmme focuses on colloborotion arbd perfomiance: we held our Irsl concert in late 23. cjdlng ensemble ond indivKJual perfcxmances.
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 In 2024 ond 2025. we oim to exporKI OUT Music progomme lo dl ow educotKJn centres ond offer more instrumentol lessons. We hove two OfesSIOnal cdlobsyotions scheduled lor 2025. with Gcw5ington Opera ond the City ol LofKlon Symphormo. 2. HIng 2023 olso s(Iw the inougurolion ol Ahomo's hiTring progromme. For many ol our studenls. who live in overcrowded Lffbon camps. Ihis was Ih&r fvst lime in nature. In %)23. studenls completed 4 hikes in Ihe Chouf movntoins. In 2024. Asoma'5 top closs is preporing lo toke the¥ Dvke ol Edlnburgh Bronze Award. They wdl complete 12 ke5 ol incre05ing dillcvlty. including ovemighl comping trips. Slvdenls ore currenmy w¢Jking on Ih•r nowgolion ond orienteering Skills. led by our new Duke ol Edinburgh A55e55Cf. Crfck•t Ciickel Hubs In Octobef 2018, we ron o one-week cricket comp, supprxted by Copilol Kids Cricket ond McKinsey. On the fnt doy. 3) chd¢*en attended. On the Second. XQ chiklfen tvmed vp. 8y the end ol the week. Alsomo hod decided lo eslobtish o 'hub', provKlino chiklTen with 6 hours ol cricket training every week. y 2023. Aarn0 has now exponded lo 12 ciickel hub5 across three camp5. Shalila. Bovii o18orojneh ond Al Marj. a lenled comp in Ihe Bekoa voley. We plon lo open 2 rne hubs in 2024, Iroining -660 players told. Community Impacl and Portner5hip5 Cricket is o porticuloty su110e sport Alsomo's communlty. Crickel is o non<ontocl spon, whSch meons Ihol boy5 ond girts con ploy logelher wlhovt tron5gres5ing culturol boundcKies. 11 reqvires a wide ronge ol strategic ond othletic ski115. making it occe5sible to ckmklren with differing abilities. Cricket Irainirg wcrfks in palle1 with OLff educalion centre5 lo losler cotsabtxalion, te0dersp and commllmenl. Our Fxogomme ¢onnec15 refugee 0YerS to o wder ¢onwnLFnty. in Lebonon ond beyond. In X¢23, we held Six chompion5hips: 51ngle-sex. mixed ond h(wdbal. We pY regular malches wilh other local teams from Pokislon. I#10 ond UNIFIL. We liove conliiiued lo devebp olff cooching copocily. Ili 2023. we ion louith Leudeisliip Course, 5UPPOrted by the Morylebone Crickel Club. After completing 8 houts 01 intensNe training per day. 14 slvdenls odvonced lo ICC Level 2. In 2024. we wdl hosl three cricket intems from the UK. w(Yking
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 lo bvild Alsamo's cricket dep¢Ytmenl. A further grp ol sludenls VAI lake ther ICC Levd l exam in lote 24. Acodemk Sch¢)lopS--Exceeftee Fund" Alsoma SDonscKs ils tOD StLtdenls to otlend inlemationd schoc4s ond coleges. Stvdenls are assessed by an Independent Selection Commillee on Ihew: Clecm viyon lo advonce they comnxJr¥ty Leadership skills Acodemic perfrymonce Alsoma por1ners wilh odmwed second¢Y¥ schools In Lebonon ond atCM)d. These $titutionS hove been selected lor w slL¢enls bosed ¢)n: ignment with Alsoma's volu85 DiverlY ol sludenl body Provision of accommodotion for students Finonciol contribvtion to stvdent tuition Four Alsomo students ore currenty on the 'Excenence Fund,: Iwo sludy ol Intemolbnal sch¢)ols in Beul. ond two are on 5ch(Jor5hips lo an inlemalionol school in Dubai. 3Klql Entwwts•i A150ma currentw incubol•s fv40 enl•rkKise5: AJ5¢Yno Studio ond the G12++ Alsoma Studi) creoles bespoke. hond-mode emtiodery ut. The enlerwtse Is a community of So relvgee women ortisons in the Sholilo. Bovri ond 8orojneh cornp5. including Ihe mothers 010 51udenls. me studio oims lo empower tls ortisons by S[K**n9 finonciol independence ond persona growth. Monv ol Ihese women (Ye nol ollowed lo leove the house excepl lo go lo the slvdio, which provides a sole spoce for prObrn shoring ond creolivity. The studio ha5 also provided yoga, lilerocy, ond empowemienlloworeness Clae5 to ils n5. 50mo Slud>o is linoncioly independenl from Athmo: all profits ore invesled btsck into the SIL10 ond its treelancets. It mokes soles locolty, and ships to an inlematK)nol morket. Currently, Alsama 51udKJ has o Sludio Bireclor. Its arti50ns work lo demand as fveelanceTS. In 2024. the Studio cim5 10 expond its inlemotbnol sales by seeking Ihe guidonce ol sociol enterprise invesl¢xs and hlfing a morkeling consullanl.
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 G12++ Quolificalton The G12++ is on exomnah'on da$ane lor di5ploced slvdents. prowding on occesylje qualificoh'on lo allow Ihem to occess highef educoti¢Y). Ajsomo hos vsed dota from ils educotion centres lo develop a solution lo o globol protsM.. only 7% 01 oll universily-oge refugee youth occess lertiory educotion IUNHCRI. The Gl 2++ oims lo provhye on occ855ible, inexpensive exominolion Ihot locuses on crilicol thinking ond Sk1$ instead of locts. In 2023. Alsomo designed ils prolotype exomlThJlion, devek)ped with prole$5ionol lesl writers and ocademics. We hove creoted o ne1) ol universities. NGOS. govemmenls, schools and lovndolions excited lo engoge with the enlerwse. In 2024-5, we will belo-lest the G12++ wilh 10 5choolslNGOs ond frym ovr Ambossodcx Boord. We ore obo Seeking lormol volidotion by occredllalion agenc$, alming lor the Iksl cotK)rt ol Alsamo sludenls lo toke the examinolSon In 202516. HQ Alsomo emphosises 'on-Ihe-grovnd' w(xing. Our HQ is o smoll room in ovr flrsl aclucolion centre in Shalilo. This means OLV odmintslToINe leom is in close conlocl wilh the commvnilies we 5erye. In 2ff23. Alsama strenglhened its HQ. We hired two Strategy and Development officers, an M&E oll¢cer. and Logislics Assislonl. We hove 0150 sought Ivrttw exlernol expertise.. our documenlolion was reviewed by OCHA. and n eorfy 3)24. we hove hwed on educatic consultonl lo refine ovr cuThiculum. A prole55ionol OLMYil ol ow digital communoI10n$ wos condvcled ol the end 012023. In 2024. we will use this oudil lo develop 0 2-ye¢y communicolions slralegy. new wsuol and messaging gvideline5. ond on optimised commurMCQtions teom strvclwe. Alsomo Prciecl hos undertaken several nilioliv85 aimed ol CcsCld01lng OLK inlernol cig0n110n. We rebuill our solary slnJclure. inlofmed by Iwo sokny benchmorking exercises. Alsamo Project ran one exefcKse wlh local ond inlernolional NG05. ond we look part in a further benchmorking project with moj¢y intemolionol NGOS. We 0150 rryated to o new file st09e system enhoncecl doto seClty. Since 2. A50mo hos also developed its inlemshp rrtogromme. We CLffenlty recruil Stralegy ond Development. Gl 2++ ond cricket inlems on a fsvtrmonlh rolotion. We expand intwnshp offering in 2024 10 include Finance and CommunOI1n intemships.
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 Sustalnablllty and reserves A150mo Project operates its own educalKsn centres ond cket hLts. Thi5 meon5 that OUT costs are sleody and long-lefm. 60% 01 our orFlhe-ground costs in Lebonon represent stotl empk)yed 0$ Iredancers. who are poid monlhty. Most olher costs ore olso reguknr. e.g. rent ond Iransportalion ano Ihe5e c05t5 are paia by Alsomo Project Let)onon and relmbvr5ed by u5. A15ama Project does not svbconlract lo thyd parties. All expenditwe 15 Slpervised by the CEO. Meike Ziervogel. Cos15 hove risen in 2023. Os we opened o Ilurd education centre ond new crickel hubs. Expendilure will rise Ivrther, 0$ we hove opened o lourth education centre in Jonvory 24 and olon lo open a filth edvcolion centre in 25 ond further cricket hubs. Costs ¢ye also increasing due lo high inflotion Sri Lvburiuri. Als"arFiu Proi#LI'5 £POWtli pburi rrbeor15 I11 Itrie Iwustett5 mu51 Lurvlvlty cun5idvi VULII decision lo open o new centre. or)d MO10•n reseThes with Fyudence. The non-fenewol of funding by ony one ygnificont doru covld hove seTiOUS aaverse eflecls on the provision ol educolion. To ensure slobilily. the truslees cmenlly moinloin ol leosl 12 months, Ivlvre expendiluTe in reserve on o fdfing boys. 2024 spend is IcKecasl lo be behveen $1.2CX),CIJO on $1,9Xs.CQ)." the uuirer)I level ol If>serves liwiilu¢JiivJ ieslrKled arid ui)iestricl¥d luriasl vl $1.C02.370 is below this ronge but new donc on¢J donotions cye being octelY ond successfully sought in 2024. A150mo ProjecP is delighled Ihol so many ol Ils donors hove repeoledy Oonoled lo the chorfly. 415 ol donolions in 2023 were dor1#5 Irorn l¢wndolion5. ccfjptyalions ond individuols who hove gilled YevioUs. This is pcYlicvkJrty grotifying as il shows thol nol only ore so many donors mointaining their Lvi 111 I iil17itril iii 2023 Irvrii wvv*¢Jv> Ljvl xM)Iv IKJvtT >vbsluiiliully iiiLivuJrO UuiiuliLJliS. 111 oddilion, Alsoma Proiecl received some especialty gener1$ twst-time donolions in 2023 Irom a nvmber ol loundolions and individuols. The trustees cye exlremety GYolelLA lol Ihis continued supporl. In 2024. we will conlSnue 10 Show oll ¢)ur doncrfs the irr4)oct ol Ihew donolions on educating and empowering the refvgee communities Wtth we Serve. Alsomo Project uses cosh bolonces lo eam depowl interest oheod ol Ihe mcmlP)s tselofe Ihe cosh 5penl. 11 atso oim5 to moinloin more ol 115 cash bolance5 in US dollar5 to hedge il ogain51 movements Sn sterfing ond Euro. In 2023 t)olonces hove been buill up in the Sist Alsomo Project US ond kept In US clollor5 whrle eoming inleresl. Alsamo Projecl US'5 soje purpose is lo help fund 50m0 Proiect UK ond Lebonon in their oclivilies. Risk management policy Sloff in Beirut hove continved to regvlady revEw iisks. vpdale policies ond proce55e5. Wth exlemal gv¢dance from Skadden. Risk5 are grouped in ColegleS. incbJding financiol. polilicol ond 501egvardlng. We have expanaea cotegtybollon of rfsk reg15ters lo Incorporate A15omo'5 new oclivilies, incltjding crickel ond field lrip re£¥slers. This yec¥. we finolised o new risk monogemenl process: on ewency response plon. This was creoled by HQ with gnifICan1 pu1 Irom on-Ihe.ground stoll. Inlernoi Financiol C¢)ntrols are Tewewed onrwlly. Moiniaining re5eryes ot the current levels secure In the UK helps enslffe there are suirEnt resovrces in the evenl of odverse shocks in LebJnon.
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 Structure. governance. and management Gov•mlng docvm•nt Memorandum and inc(yporaled X) Jonuw 2(yJ) os amended by speclol resolu0 registered al Comoanies House on 2 SeDlember 2m os amended by certificole ol wiccwalion on chonge ol nome dated 7 OclobeT 2020. As omended 27 March 2023. DlrKt(xsllNsl••s and 5nducllon. Irolnlng The Board of Trusees meets lfvee tin8s o yeor to administer the coffwny. One ol Ihese meeings Is usuolly held in Lebonon. so trvslees con see lor Ihem5elves the chortly's impacl ond on-Ihe- grovnd operolionol chollenge5. In 2023. the twslees were vnable lo meet in Lebonon due lo the geopolitical 51tualion ond the war in Gozo. They intend to meet in Lebonon in November 2024. Tl)e Irvstees hove the poww lo apwnt new oddilionol truslees. New trustees undergo Induction trointng to brief them on Ihe legol 01got10ns under chority and compony low ond the content ol ihe Articles ol Associalion. Ke1h Pot)ng0m. regslefed declcx. reFJoce Poul Mitchell os Choir of the 80(yd in 2024. ObJ•cllv•s and acllvllles The compony's obiecls ore specificolly restricled lo such pwposes which ore exclusively choritable and for the benefit ol the publc under the lows ol England and Woles as the Trvslees shall Trn the obsdule discretion determine. Inc1ng Ibul not limited lol.. the feliel ol pov&rty or linoncial hardship omong relugees and osylum seekers by woviding ants, ilems and services lo vIdual5 in need ondlor chorilies or other orgonisolions working lo prevent or relieve poverty.. octing 05 o resovrce for Tetvgees and 05ylum seeker5 by wovithng oavice and 0ssi51once ond organi5ing progromme5 01 physical. edvcalionol. orts ond other octivilie5 05 0 mean5 01.. lol advoncirKJ in life ond hetyng young r>eople bycJevekJPThJ their skills. c(4)ocilies. ond copobililies lo enoble Ihem lo participole in socly 0$ independenl. ne ond responsible individuals. 11)) odvonclrwJ educotton. Icl relvIng unempbyment. Idl PTovithng recreotionol ond leisure time oclivity in the interests of social welfore lu relvgees and osylum Seekers who have need by reason of Ihew youth. age. infymity or disability. poverty. or 50cioI ond 8conorric cKcumslanc85 1h o view to imrxovno lh8 conditions ol lile of sh persons. 10
MAPR FOR THE YEAR ENDED 31 DECEMBER 2023 Publk benefit The company aims lo wovide publ benefit by Ihe reliel ol poverty or finonciol hordship among relvgees ond asylum seekers. MOn7Y by provbdirYJ education and crickel lo refugee teenagers in Lebanon. Ketlsh Pothallngam Chak of th• board of truste•s Date: 30July 2024
AMA PR
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report lo the trustees on my exominotion ol the OCCOLnts ot the oboye choriloble corroony
for the year ended 31 December 23 0$ Set out on page5 13 10 19.
ResponbUllIeS orKI bq¥ls d report
AS Ihe chority's irusrees lana oiso Its thecicrt Ihe wposes ol c(Thpony kawl. you
responsible the prep0rat of the occounts in occcffdonce wth the Companies Act 3)06
Ilhe 2006 Acll.
Having sollsfd mysell Ihot the financiol slalemenls ol Ihe chority are not required lo be
oudiled under Purl 16 of Ihe 2CQ6 Acl ond e eligible independent exuminaliun. I report in
Tespecl ol my examinalion ol the chcty'S finonchil 51alemenls corried out under Seclion 145
ol the ChclIeS Act 2011 Ilhe 2011 Acll. In coryng out my examirli0n, I hove followed all the
opplicable Dwections Given by the Chority Corr4Ywwon undef section 1451Sllbl ol Ihe Act.
Indend•n• •xomln•r's stal•m•nl
I hove completed my exominotion. I confmi Ihal no moteriol motter5 have CO to my
allenlion in conne¢lbn with Ihe ex0min0ti bvhich gives C¢)vse to belleve thol In. ony
moleriol respecl..
the accounlirwJ recc
ALSAMA PROJECT TEMENT F FINAN IALA VITIES FOR YEAR ENDED 31 DECEMBER 2023 N¢>t•i Total Funds YEAR 2022 Funds Funds Funds YEAI 2023 Funds Funds Charllablo Incom•: Donat50r from cr10b[e tovndations. vate indivldvols on¢ cworolions 516.491 497,126 IL113.617 393.153 527.729 920.882 Total income 516.491 497.126 1.013.617 393.153 527.729 920.882 Exp•ndltur• Choriloble Aclivili8S FX ol Lebanon NGO Fund Raising Support and Govemonce 68SA91 685.891 3.551 81057 322.744 322.744 774 38.464 25.673 3.551 83.057 774 38.464 25.673 Tolol experKlilure 86.éce 685.891 771499 64.911 322.744 387.655 FX GoinllLossl 28,667 28.667 1390921 139.8921 Net movement In Ivnds Icrf the period 458.$9) 1188.7051 ?69.785 288.350 2)4.985 493.335 Tronsler belween IvrKts 1169.6241 169.624 Fund balances 0v9h1 Ic*vrford I Jon 2023 511,306 221.218 731584 234.207 5.042 239.249 Fund balonces corTEd Icovord 31 Dec 2023 ).292 %J2.077 1.Crf)2,369 511.366 221.218 732.584 13
ALSAMA PROJECT BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Cuirent oss•ts Debtors Bonk account funds 396.cel 33,054 29.981 725.344 1.029.145 755,325 CrediloT5.' amovn15 lollry dve within one year 126.7751 122.7411 Net Current Ass•ts i.(M)2.369 732.584 N•1 AM•ts Unrestrkled Fvndl General Fund 800.291 511.344 R•strlcl•d Funds 202.077 221,218 Total Funds These tlnanclal slal8m8nts have been wepared kn accordance vlth the special provSslons for Smal companies under Part 15 01 Companies Act XO6. the finonc?l yeor ended 31 December ))23 the comFxJny wos entilled lo exemption from ovdil under Section 477 Compani85 Act Th)6 ond no notice hos been deposited under section 476. The Irusteesld¥eclors acknoe Ih6yrresponytMlils 1COMyg with the requwemenls ol the Componies Acl 2CQ6 wlh respect lo Ihe OCCOLmling records ond Ihe preporolion ol Ihe finonciol 51otement5. ese flnonciol stotoments were opproved by the dTrctry51tru51005 on 3010712024 ond wer• signed 11 by: Kelish Polholingam - Cha The notes on pages I S 10 21 form port of these financi¢J 51alements. 14
ALSAMA PROJECT STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2023 2023 2022 Nel movement In lunds lor Ihe perfod Adjustmenls Icf-. Decrease/lirscTe05el in debtc Increaselldecreosel in credit¢Js 269.785 493.335 1366.1101 4.035 10.275 Net Cajh Ilow from operallng acllvlll•s (92.290) 412,OQ) Cosh11ow Irom investing octiwties N•1 Caih now from In¥•atlng acllvlll•s Cosh flow Irom financing octivities N•t Coih now from nngn¢lng ¢KllvlN•s Increos•l(d•cr•ose) In cash (92.210) 492.0(M) Ch and caih •qUIvants al start dah 2022 725.344 233,344 Cosh and cash •qvlvol•nts al end date 2023 15
MAPR NOTES TO THE FINAN IAL STATEMENTS Accounllng polkles 80si5 01 rxeparotion and assessmenl of going concem Thc financiol slotements have been prepared vtider Ihe hislorical c05t convention Vith ilcms recogni5ed ol cost or tronsaclDn volue vnless otherwse sloled in the relevant nolels) lo the linancial slolements. The finonciol stotements have been kyepored in occordance wlh Ihe Stotement ol Recommended Procle. Accounting and Repcrting by Chorilies preporing their occovnls in occd0nce wilh the linonciol Repcffling Slondord opJicoble in the Uruled Kingdom oncl Republic ol Welond IFRS 1021 orKI the Chorities Act l. The charity conslTrlutes a PUbC benefit entity os defined by FRS 102. The Iruslees consKler Ihot Ihere ore no moteriol U10[nIte$ oboul the ch¢yity's ablity to continve as o going concem. Funds, structu Fund occovnting. The Chority's funds are: UM31rtC1cd generol Ivnds wihich (• oV(MlOb lo Ixt >p•nt In oGcrydonce with Ili il)udlotJle objects ol the compony. Re5trrcled lund5 which ore donolions or nts received that hove 5pocific reslricled ec>ncfilions placed on Ihem by the donor or a specific obpcl allocld lo them. These fund5 may therefore only be used lor Ihe specific obpcl lo which Ihey hove been glven. Any bolonce remoining unspent ot the end of Ihe yeor is Cled Icrfwcxd as o tKJlonce on thol porticulor funcl. In 2022 where Such dallonS were received wlh o specific restricted donation, l 0% ol the donolion wos allocated lo unrestrScted Imds in Order to cover o shore of centrd costs. This opprooch is no longer appld in 2023 and 5upp¢yI ond 9overThJnce c05t5 hove rrf)w been ouocoled acr055 011 activilie5 (see note 41. Icl Income recognition All income is recowld CCe Ihe Ch(lae ccynpony has enlillemenl lo Ihe income. it ' probable Ihol the incorM YAI be received. ond Ihe amoLfftI of ilC¢)me fece{vob con be measured lIobty. 16
MAPR NOTES TO THE FINAN IAL STATEMENTS Expenditure recognilion All expendlLve is occomted ler ¢)n the occnJol bJ%s. Liobililies ore iecognlsed 0$ expendittxe 0$ soon 0$ thwe is o legol consl(uctive otdigolion committing the chorify lo Ihol expenditure. il is p1otrfJb thot settlement vlll be required, ond Ihe omovnt ol oblgolion con be meosvred feliobty. lel Functional Cuffency US Dollars is the lunclionol currency ol Atsomo Project. os il is the de loclo cvrrency ol the rmimory economic environment. Lebonon. in whth the choiity operole5. Foreign exchonge goins ond losses (we included in Ihe SOFA Ici the period in which Ihey ore fftcued. Tru$te•$' •xpen$•s and femunerallon Th8 Iruslees oll give Ireety their time ond experttse wlhoul ¢)ny Ic¥m ol iemunerolDn c* othèr financial tse1 in cash ar kirKJ. staff costs The choritoble company does nol employ ony UK sloff. The leochers ond coaches contracted by the UK chorily ore paid 05 Ireelancws. rhe overoge number ol freeloncers wos 103, no Ireelancef was poid more Ihon $74.W I£OO.CKM) ol cryefoge exchang8 rote 1.2431. 17
MAPR NOTES TO THE FINAN IAL STATEMENTS 4. Charltable Actlvltles, Fvnd Rahlng, Supwl ond Govemance Costs Shf•d Eduealbor+ 5upporf Govemonc• Tol Co 2023 CuNent Yeai Sholilo I Bouri I Sholila 2 Bouri 2 Shored Cosls Educatlon C•nlr•s 147.195 78.389 60.148 XJ.896 41.345 .CK)2 14.S)4 34 186.781 13.705 223.694 8.176 136.887 9.624 159.626 987 15,491 447 1.321 8.531 25.5 311251 37 5.173 125,5911 32.491 $35.697 Excellence Acodernic 5¢hobr5hips G12++ Cricket 11.669 794 12.462 671 10,535 8.102 127,196 5,515 n.155 4.349 46.778 ChofftotA• Acllvllles wholy or partly lund•d by i•slrfct•d donolkns 245.228 9.684 42.058 68S,891 FX ol Lebttnon NGO Fund Roising Governance Support Total expendtture 3.551 3.109 3,551 83,057 15. 59.jjg 8.856 3.142 80.990 5.290 112.3561 134,9921 6.890 24 960 280.348 772,499 A150mo Project UK wryks in portnetsfyp with Alsomo PToiecl Lebonon. o LeborEse Tegislefed NGO. Two UK tIU51ees. Meike Ziervogel and Richord Verily. IcTh p(yt of the monogemenl Èadership ol Asama Projecl Lebonon. Alsoma PToiecl UK reimburses dl the costs ol Alsomo Projecl Lebanon. Bolh Govemonce Costs ond Support Costs are ollocoted lo the other oclivilies in proportion lo direct expendilvre as il is the trvslees. orinion Ihot Ihis is the best proclicol applonmenl. In 20T2 Governonce Costs ond Support Costs were not allocoted lo the other acliwlies and ore hence shown SeptelY on Ihe loce ol Ihe Stotement ol FIrne101 Aclivilie5. 18
MAPR NOTES TO THE FINAN IAL STATEMENTS Charflable Aclfvllles, Fund Rolslng. Support ond Governonce Costs (conllnued) Supwl Cosh E¢fvx4lbon G0vwrc• Co QA•ci 2022 Compaiallve Year 5holilo I Bouti I Edvcallon Cenlr 107.291 46,210 311251 33.337 140.628 80.405 221.033 447 5.173 iaO.781 Eycellence Academlc scholor5hips Cricket 17 13,173 14.923 60.240 24.39) 2.198 86.788 Chofftol)l• AcllvlN•s who#y or portly lund•d by r•stricl•d donolloni 215.491 I05.0SS 322.744 FX ol Lebonon NGO Fund Roising Govemance Support Tohyl •xp•ndhur• 774 458 774 38.463 6.646 19.021 367.654 ,596 3,266 1,789 37.849 7.0 229.120 10.218 119,885 2023 2022 overnonce osls Lebonese NGO Avdil UK Independenl Ex0natiOn Legol odvlce 3,380 3,266 7.289 Bank Chorge5 Supoorl Sloll Relreshmenls. le(Jm butding Office Renlol Transport Office Costs 7.547 6.890 7.018 3,920 7.020 3,091 1,050 1,173 41 19
MAPR NOTES TO THE FINAN IAL STATEMENTS Debto 2023 2022 Inter-entity account wlh 5am0 Proiect Inc Isisler NGO reaistered h USA) 363.232 Copilol KMJS Crickel 17,ff23 29,981 Intef-entity oecounl with Samg PToigcI 1515ter NGO registered in Lebononl Sundry Deblor5 9,471 6.305 Some donalions lo Alsomo Pfokct cwe P¢)kl vlo Copilol Kids Cricket ICKCI o UK chority ol whlch Richard Verity is o trustee. The bakjnce shown reKYesenls the bolonce ol monies received by CKC Ihol ore yel lo be remilled lo Alsomo Proiecl. CT•dllors: amovnts falllng du• wllhln one y•¢x 2022 Inler-entSty account wtlh A Somo Proigcl1si4tef NGO re&¥slered in Lebononl 17,596 Embrlidery CooperalNe--Alsomo Stu(kn" 19.518 1.878 Accruats 7,257 3,267 20
MAPR NOTES TO THE FINAN IAL STATEMENTS Movements In Fvnds Alljan Incomlng Ovlgolng Tron FX Al 31 Dec 2023 2023 Cuffent Year Reslrfcted FurKIs: Educolion Cenlres Excellence Acodemic 5cholor5hip5 G12++ Crickel Tolal r•strld•d fvnds 205.429 6.Lk39 374.247 1535.6971 112.4621 110.5351 119.074 1127.1961 497.124 {685.891) 143.146 2.618 10.535 13.324 149.024 187,125 9.7X) 221.218 14.952 202.077 Unrestrlcled fvnd Geneiol Ivnds Total unr•strlcl•d lunds 511.366 511.316 516,491 186.d)81 1169.6241 (86.608) (169.624) 28.667 28.667 8Q),292 8W,292 TOTAL FUNDS 732.584 1,013.617 {772.499) 28.667 1,002,369 2022 Comporallv• Y•or At l Jan Incomlng Ovl9olng Tron 2022 FX At31 D•c 2022 R•5tr1cl•d Funds.. Education C&nlres Excellence Acodemic SChorshIpS Cricket Total r•s*lcted lunds 1.376 3.666 425.C86 1221.0331 17,296 114.9231 85.348 186.7881 527.np (322.744) 205.429 6.039 9.79) 221.218 5.042 Unrestrlcted fvnds: General Ivnds Total unr•thlct•d funth 234.17 234.207 393.153 164.9111 111.1911 139.8921 393.153 (64.111) (11.1gF) {39.892) 511.366 511.366 TOTAL FUNDS 239.249 920.882 (387.655) {39.892) 732.584 21