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|Direclors:||
|---|---|
|ClaraMaryWEATHEMLL,Chairman||
|DemingCHEN||
|ChristineMengSangFANG|(resigned on1sth March2022)|
|Francine Wing Ting FU KWONG||
|Kathryn Mary GREENBERG||
|Stacey Anne HILDEBRANDT||
|lvor Cosimo JENCKS||
|Lily Clare JENCKS||
|Benjamin William KESWICK||
|Clare Jane KESWICK||
|Martha KESWICK||
|ChristopheKin Ping LEE||
|Stephen Charles Ll||
|Neil Michael MCNAMARA||
|Evelyn Lee HoughPARR||
|Marcus Joytak SHAW|(resigned on1sth March2022)|
|Angelina WoonKiYUEN TSANG||
|Michael Yuen-jen YAO||
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|||Unrestricted|Permanent|Total|Tolal|
|---|---|---|---|---|---|
|||Funds|Endowment|Funds|Funds|
||||Fund|||
|||2021|2021|2421|2020|
||Note|HK$|HK$|HK$|HK$|
|Donations||225,000||225,000|225,000|
|lnvestment income|3|34,222,447||34,222,467|34,100,504|
|lnterest income||129,291||129,291|311,788|
|Total income||34,576,758||34,576,758|u,703,29?|
|Expenditureon:||||||
|Charitable activities|4|(23,556,448)||(23,556,448)|(26,957,939)|
|Other:Bankcharges||(1o,044)||(10,044)|(6,800)|
|Auditfee||(225,o00)||(225,000)|(22s,000)|
|Totalexpenditure||||(23,791,492)(27,189,739)||
|Total||10,785,266||10,785,266|7,513,553|
|Netforeign exchangegain||386,752||386,752|137,815|
|Netrevaluation(loss)/gainonlnvestments|11||(13,109,717)|(1s,109,717)|3,414,779|
|Net(expenditure/income|||(13.109.717\|(1,937,699)11,066,147||
|Netmovementinfunds||11,172,018|(13,109,717)|(1,937,699)|11,066,147|
|Fund balancesbroughtforward||49,951,740|1,112,291,425|1,162,243,165|I,151,177,018|
|Fundbalances carried forward||61,123,758|1,099,181,708|1,160,305,466|1,162,243,165|
||2021|2020|
|---|---|---|
||HK$|HK$|
|Total income|34,576,758|34.7og,2g2|
|Cosi of generating funds|(10,044)|(6,800)|
|Costof grant making
Governance costs|(23,556,448)
(22s,000)|(26,957,s3e)
(225,009)|
||.___---€-3,29L,19?l______L%l_8-gJ_1eJ||
|Netforeign exchange gain|386,752|137,815|
|Netsurplusoftheyear|_1#r2,013_|7,651,368|
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||2021||2020|
|---|---|---|---|
|Note|HK$||HK$|
|11|1,099,180,32'1|__1.,11_??9_0,_0_3_8__||
|12|1,380,160||578,229|
||59,773,638||49,476,88,t|
||61,153,798||50,055,1 10|
|13|(28,653)||(101,983)|
||61,125,145||
49,953,127|
||1,160,305,466||1,162,243,165|
||__1J99,305,466_|_1162,243J65||
|14|15,370,847||15,370,847|
|15|1,083,810,861||1,096,920,578|
||1,099,18 t,708||1,112,291,425|
|16|.t,,to2||1,102|
|17
17|20,876,051
15,952,366
40,246,60533,998,272|||
||.______gLrl_2_3.r!_5-8________4_e.j:e_51_{_4-q_|||
|18|1,160,305,466||1,162,243,165|
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||2021|2020|
|---|---|---|
||HK$|HK$|
|Cashflovtsfrom operating activities|||
|Netlncome|1't,'t72,0't8|7,651,368|
|Exchangegain|(386,752)|(137,815)|
|lnvestmentincome|(34,222,467)|(34,166,504)|
|lnterest income|(129,2s1)|(311 ,7BB)|
|lncreaseinother receivables
Decrease inpayables|(810,636)
(73,330)|(s57,618)
(8e,068)|
|Netcash usedinoperating activities|.-----J1a.,1-5-0..,1-5-8)----!?!r91J.'!?-5)-||
|Cashflowsfrominvesting activities|||
|Dividends received|34,222,467|34,166,504|
|lnterest received|137,996|404,301|
|Netcash providedbyinvesting activilies|34,360,463|34,570,805|
|Change in cashand cashequivalents due toexchange ratemovements|386,752|137,815|
|Change in cashand cashequivalents in the reporting period|10,296,757|7,097,195|
|Cashand cash equivahntsatthe beginning of the reporting period|49,476,881|42,379,686|
|Gashand cash equivalentsat the endof the reporting period|59,773,638|49,476,881|
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|INVESTMENT INCOME||||
|---|---|---|---|
|||2021|2020|
|||HK$|HK$|
|Dividend from Jardine Matheson HoldingsLimited||34,222,467|34,166,504|
|CHARITABLEACTIV]TIES||||
|||202'l|2020|
||Note|HK$|HK$|
|Grantspaid|5|24,833,482|24,169,633|
|Supportcosts|6|2,722,966|2,788,306|
|||23,556.448|26,957,939|
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|Grants paid are payments made to specific charitable projects as approved by theDirectors.The following
Yeari|is alistofgrants pa|id during the|
|---|---|---|
||2021|2o2o|
|Nameof recioient(eachrecipientbelowreceivedonegrantexceptwheredetailed):|HK$|HK$|
|Caritas HongKong
Children's HeartFoundation
ChinaCoastCommunity
- OccupationalTherapyServices
Christian Family ServiceCentre
Ebenezer NewHopeSchool
Evangel Children'sHome
-Counselling ServicesScheme
Fullness Social Enterprises SocietyLtd
Home CareforGirls
-Counselling ServicesScheme
Hong ChiAssociation
HongKongChristianServices
-Counselling SeruicesScheme
Hong Kong SocialWorkersAssociation
JustFeelLimited|485,957
248,800
7O,2OO
-
699,M0
405,943
656,000
211,387'
615,909
414,359
1,343,200
143,733|1,129j70
165,900
70,2OO
607,077
1,068,834
454,005
456,997
288,822
459,988
1,403,9S4|
|Maggie'sCancer CaringCentre|880,600|880,500|
|MethodistHK|228,333||
|MotheasChoice
Mother'sChoice
-ProjectBridge
PMAMusic FoundationLtd|547,500
189,050
144,872|182,500|
|Rainlily
RecognitionAward
RunHongKongLtd
Sister oftheGoodShepherd
- ClinicalPsychological
TheABMHKSwatowBaptistChurch
-LifeEnrichment
-School-basedConsultation|693,647
90,000
250,000
-
-|U6,267
50,000
250,000
686,447
247AOO|
|TheBoys'&Girls'Clubs Association ofHK-Counselling ServicesScheme
- Developing SustainableServices|410,151
-|456,997
596,840|
|The HongKongCouncilofSocialService- Championfor ChangeAward
-StairClimbingServices
The HongKongCounciloftheChurchof ChristinChina
The Hong Kong FederationofYouthGroupr-ProjectlSmarter
- PsychologicalServices
The Society for Community Organisation
The University of HongKong
- Centreon BehavlouralHealth
-csRP|-
-
-
-
-
737,385
385,673
1,601,601|28,125
953,036
532,467
758,911
227,490
452,589
598,095
1,263,540|
|-DSWSAPetProiect|455,392||
|- Dept of SocialWork
-Developing TeamWork|217,315
109,606|869,215
373,006|
|Uplifters
World Vision China FoundationLtd|166,807
357,527|298,144|
|YangMemorial Methodist Social Service Mongkok lntegratedFamilyServiceCentre
Champion forChangeAward
-Caritas HongKong
-ChristianFamilyService
-CNECLui MingChoi PrimarySchool
-TheHongKongCouncilofSocialService
-TheBoys' &Girls'ClubsAssociationofHongKong
-The Church of United BrethreninChristSocialService|1,240,258
-
50,000
100,000
83,500
-
-|934,894
165,595
49,927
200,000
100,000
't67,000
2OO,00O|
|-TheSalvationArmy Hong Kong East lntegratedService
- Yan OiTong
CASWE
- 3yearProJects
China Social Work Project FundI|-
-
394,989
-|201,300
'167,000
16,840
57,895|
|ChinaSocialWork Project Fundll
China Social Work Project Fundlll
-Projects
- MonitoringExpenses
The Hong KongPo$echnicUniversity-Dept ofRehabilitationSciences
-NewGeneration ofSocialWorkTeachers|-
1,162,224
110,721
492,660
2140325|2,238,864
1,227,812
1,273,413|
|YangAi
ShaanxiJiaYuenHuiSocial Work ServiceCentre|465'096
167,750|371'720
169,429|
|Short-termfunds(7projects)
Chinashort-termfunds|-
-|704'656
174,337|
|Covid-19 Project Fund(Roundll)
Refundofunusedamountfrom completedprojects|1'810'761
(145,383)|(707,605)|
||20,833,482|24,169,633|
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|SUPPORTCOSTS||||
|---|---|---|---|
|||2021|2020|
||Note|HK$|HK$|
|Staffcosts|7|2,5il,474|2,5'16,236|
|Printingand stationery||3,258|10,28S|
|Website||2,876|17,716|
|Office equipment expensed||16,200|67,534|
|Travelling expenses||6,894|3,813|
|40th Anniversary Book|||'13,864|
|Sundryexpenses||131,864|158,854|
|||2,722,966|2,788,306|
|STAFF COSTS|||
|---|---|---|
||2021|2020|
||HK$|HK$|
|Wages and salaries|2,346,045|2,353,250|
|Othgrpensioncosts|215,829|162,986|
||2,561,874|2,516,236|
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|lnvestments represent sharesinJardine Matheson HoldingsLimited ("J|MH"), acompanylisted ontheLondonStock Exchange.||
|---|---|---|
||2421|2020|
|Movements fortheyear:|HK$|HK$|
|At1stJanuary|1,112,290,O38|1,108,875,259|
|Net revaluation (loss)/gain|(13,109,717)|3,414,779|
|At 31st December|'1,099,180,321|1,112,290,038|
|Historical cost asat31st December|15,369,46015,369,460||
|Revaluation gainsat31stDecember|1,083,810,861|1,096,920,578|
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|12|The above unrealisedgainrelates to the endowment fund. The Directors be
underlyingnetassets.
OTHER RECEIVABLES|lieve that the carrying valueofthe investment is supp|ortedby its|
|---|---|---|---|
|||2021
HK$|2020
HK$|
||lnterestreceivable
Cashadvances|11,082
1,369,078|19,787
558,442|
|||1,380,160|578,229|
|13|ACCRUALS AND OTHER PAYABLES|||
|||2021|2020|
|||HK$|HK$|
||Specialbonus||73,000|
||Employefs contribution ofMPFexpenses|28,653|28,983|
|||28,653|101,983|
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|15|thisinvestment asafund toprovideincome for the charitablepurposeofth
reserves.
REVALUATION RESERVE|ecompany and this amounthastherefore been cr|edited tocapital|
|---|---|---|---|
|||202',1|2020|
|||HK$|HK$|
||At1January2021|1,096,920,578|1,093,505,799|
||Net revaluation(loss)/gainduring theyear|(13,109,717)|3,414,779|
||At 31st December2021|1,083,810,861|1,096,920,578|
|16|SHARE CAPITAL
Authorlsed, alloftedandfullypaid:|2021
HK$|
2020
HK$|
||10O(2020:100)ordinaryshares of e1each|1,102|1,102|
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||2021|2020|
|---|---|---|
|Desiqnated funds|HK$|HK$|
|At1stJanuary|15,952,366|28,187,309|
|Designaiions|25,757,167|11,934,690|
|Utilisedduring the year|(2o,833,482)|(24,169,633)|
|At 31si December|20,876,O51|15,952,366|
||2021|2020|
|Othercharitable funds|HK$|HK$|
|At1stJanuary|33.998,272|14,111,961|
|Netincoming resourcesbeforerevaluations and grantspaid|32,005,500|31,821,001|
|Designations|(25,757,167)|(11,934,6e0)|
|At 31st December|40,246,605|33,998,272|
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|18|Netincoming resourcesbeforerevaluations and gran
Designations
At 31st December
ANALYSIS OFNETASSETS BETWEEN FUNDS|tspaid|32,005,500
(25,757,167)
40,246,605|31,821,001
(11,934,6e0)
33,998,272|
|---|---|---|---|---|
||||Permanent||
|||Unreslricted|endowment|Tolal|
|||funds|funds|funds|
|||2021|2021|202'.1|
|||HK$|HK$|HK$|
||lnvestmentrs||1,099,180,321|1,099,180,321|
||Current assets|61,152,411|1,387|61,153,798|
||Current liabilities|(28,653)||(28,653)|
||Netassets|61,123,758|1,099,181,708|1,160,305,466|
|||2020|2020|2020|
|||HK$|HK$|HK$|
||lnvestmentrs||1,112,290,O38|1,112,290,038|
||Current assets|50,053,723|1,387|50,055,110|
||Current liabilities|(101,983)||(101,e83)|
||Netassets|49,951,74Q|1,112,291,425|1,162,243,165|
|19|COMMITMENTS||||
|||2021|2020|
|---|---|---|---|
|||HK$|HK$|
|Payable|within oneyear|20,876,051|15,952,366|
|Payable|between oneandfiveyears|22,506,189|5,018,266|
|||43,382,240|20,970,632|
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