CAMARA EDUCATION LIMITED. Company Limited by Guarantee REPORT AND FINANCIAL STATEMENTS 31ST DECEMBER 2009 REGISTERED NUMBER

Transcription

1 CAMARA EDUCATION LIMITED Company Limited by Guarantee REPORT AND FINANCIAL STATEMENTS 31ST DECEMBER 2009 REGISTERED NUMBER CHARITY NUMBER CHY16922

2 CAMARA EDUCATIO LIMITED CONTENTS PAGE Company information 2 Directors' Report 3 Independent Auditors' Report 7 Statement of financial activities 9 Balance Sheet 10 Cash flow statement 11 Accounting policies 12 Notes to the financial statements 13-1-

3 CAMARA EDUCATION LIMITED BALANCE SHEET AS AT 31ST DECEMBER 2009 FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank Note 2009 e 7 3, , , ,699 43, ,431 CREDITORS: Amounts falling due within one year 9 296,021 (122,737) 348,018 (223,001) NET CURRENT ASSETS 173, ,017 TOTAL ASSETS LESS CURRENT LIABILITIES 176, ,716 FUNDS Restricted funds Unrestricted funds 176, ,716 TOTAL FUNDS 176, ,716 financial statements were approved by the directors on the 2q Ib I1 0 and are signed on their behalf by: iall O'Neill Director Clare Fay Director - 10-

4 CAMARA EDUCATION LIMITED CASH FLOW STATEMENT YEAR ENDED 31 DECEMER 2009 Note Net cash inflow from operating activities 10 (51,953) 131,851 Capital expenditure and financial investment Increase in cash for the year (51.953) 131,851 RECONCILIA MOVEMENT TION OF NET CASH FLOW TO IN NET DEBT Increase in cash for year (51,953) 131,851 Net opening cash Net closing cash - 11-

5 CAMARA EDUCATION LIMITED ACCOUNTING POLICIES YEAR ENDED 31 DECEMER 2009 PRINCIPLES OF PREPARATION The financial statements have been prepared in accordance with generally accepted accounting principles under the historic cost convention and comply with the financial reporting standards of the Accounting Standards Board, as promulgated by the Institute of Chartered Accountants in Ireland. The financial statements have also been prepared to comply with "Accounting and Reporting by Charities" (Charities SORP) the revised statement of recommended practice issued by the Accounting Standards Board in 2000 and the Accounting Standards Board "Statement on Update Bulletin 1 of the Charities SORP" issued in December 2002, updated in FIXED ASSETS All fixed assets are initially recorded at cost. DEPRECIA TION 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: Equipment Motor Vehicles Straight line over 5 years Straight line over 5 years INCOMING RESOURCES Incoming resources have been included in the financial statements only when realised or when the ultimate cash realisation of which can be assessed with reasonable certainty. RESTRICTED FUNDS Restricted funds consist of funds received which can only be used for the purpose for which they are specified by the donors. These purposes are the aim of the charity. UNRESTRICTED FUNDS Unrestricted funds consist of funds received which the charity can spend based on its own discretion to enable it to achieve its overall aim and objectives

6 CAMARA EDUCATIO LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMER OPERATING SURPLUS Operating surplus is stated after: Directors' remuneration Depreciation Auditors' remuneration 4,199 tim.5. 3,275 j.qqq MyCharity total income for 2009 was 36, this income was for many different events and is distributed in the figures for the Africa Volunteers and Other Donations. 2. EMPLOYEES A D REMUNERATION The average number of staff employed by the company during the year was 11 (2008: 9). Staff costs were as follows Wages and salaries Social welfare costs 415, ,684 26,441 ~ 3. TAXATION The company does not engage in a taxable activity and has been granted charitable tax exemption under reference CRY COSTS OF GENERATING VOLUNTARY INCOME Unrestricted Restricted Total Total Rent 1,588 1,588 3,596 Salaries 61,624 61,624 40,605 Fund Raising 9,726 9, General expenses 18,502 18,502 21,666 91,440 91,440 66,

7 'OTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMER CHARITABLE ACTIVITIES Unrestricted Restricted Total Total Rent 23,905 23,905 20,034 Wages & Salaries 358, , ,368 Fundraising 954 Shipping & packaging 69,314 69,314 73,954 Africa expedition 174, , ,784 Insurance 5,344 5,344 5,140 Repairs & Maintenance ,877 Depreciation 3,275 3,275 3,275 Motor & Travel 18,628 18,628 11,692 Printing, postage and stationery 1,444 1,444 8,367 General expenses 4,573 4,573 4,354 Bank Charges 1,510 1,510 1,095 Training 3,990 3,990 3,550 Telephone 7,256 7,256 8,652 Marketing 6,618 6,618 6,622 Consultancy fees ,564 Workshop expenses 35,886 35,886 27,849 Multimedia expenses 1,600 1,600 2,635 African Hubs 161, ,262 94,029 African HQ Exp 5,177 5,177 Bad debt provision 6,762 6,762 Foreign exchange (1,633) (1,633) 889, , , GOVERNANCE COSTS Unrestricted Restricted Total Total Rent 2,217 2,217 2,055 Auditors fees 6,075 6,075 9,130 Wages & salaries 36,524 36,524 24,152 General expenses 16,442 16,422 12,477 61,258 61,258 47,

8 CAMARA ED -C TIO_ - LIMITED COMPANY LIMITED BY G ARANTEE NOTES TO THE FIN~ CIAL STATEMENTS YEAR ENDED 31 DECE ffir TANGIBLE FIXED ASSETS COST Fixtures & fittings Motor vehicles Brought forward 1 Jan Dec 09 16,946 16,946 4,050 4,050 20,996 20,996 DEPRECIA TION Fixtures & fittings Motor vehicles Brought forward 1 Jan 09 Charges 31 Dec 09 10,732 3,389 14,121 2, ,375 13,297 4,199 17,496 NET BOOK VALUE Fixtures & Fittings Motor vehicles ,214 2,825 1, ,699 3, DEBTORS Overpayment of PAYFJPRSI Trade debtors due for recycling services Prepayments and accrued income 11,281 28,398 3,865 25,431 18,156 43,544 43,587 All amounts are receivable within one year 9. CREDITORS: Amounts falling due within one year Taxation and social security Other creditors Accruals and deferred income 5, , , , ,

9 CAMARA EDUCATIO LIMITED COMPANY LIMITED BY G ARANTEE NOTES TO THE FINANCIAL STATEMENTS YEARENDED31DEcruMER RECONCILIATION OF OPERATING CASH FLOW Surplus for the year Increase in creditors (Increase) decrease in debtors Depreciation ,068 96,309 (100,264) 69, (38,267) ~ 4,199 Net cash inflow from operating activities 51, MOVEMENT IN FUNDS Opening balance Income Expenditure Transfers Closing Balance Restricted funds 739,276 (889,086) 149,810 Unrestricted funds General reserve 1,085,852 ([ ) 12. LEGAL STATUS OF THE COMPANY The company is limited by guarantee and has no share capital. At 31 December 2009, there are 8 members whose guarantee is limited. 13 POST BALANCE SHEET EVENTS No significant events have taken place since the period end that would result in adjustment to 2009 financial information or inclusion of a note thereto. 14 CONTROLLING PARTY The company is controlled by the board of directors acting in concert

10 CAMARA EDUCATIO LIMITED COMPANY INFORMATION Chairperson Maria Mahon Directors Secretary Joe Carthy Clare Fay Jonathan Kelly Maria Mahon 9 th June 2009 Niall O'Neill Manette Ramaili Niall O'Neill Bankers Allied Irish Bank, 98 Sandymount Road, Dublin 4. Auditors Solicitors Grant Thomton Chartered Accountants and Registered Auditors, City Quay, Dublin 2. Philip Lee Solicitors 7/8 Wilton Terrace Dublin 2 Registered office 40a Sandymount Dublin 4. Avenue, - 2-

11 CAMARA EDUCATIO LIMITED THE DIRECTORS REPORT (continued) YEAR ENDED 31ST DECEMBER 2009 The Directors submit their report and financial statements of the Company for the year ended 31 December REVIEW OF ACTIVITIES Camara is a registered business name of CAMARA EDUCA non LIMITED. Objectives and Activities A. Camara is a volunteer organization dedicated to using technology to deliver education more effectively to disadvantaged communities in Africa and Ireland. B. Camara believes that education is the most important force in the eradication of severe poverty among all people and its vision is 'A world where even the poorest have access to quality education'. C. It is a company limited by guarantee, without having share capital. It is governed by a Board. D. The Board met 3 times in E. The business offices of Camara are in The Digital Hub, Thomas Street, Dublin 8. F. Camara operates as a social enterprise and operates in two distinct business lines: 'Education Delivery' and 'Computer Reuse'. The connection between these two, seemingly disparate activities is technology. G. Computer Reuse is carried out by our Technology Deployment Division. Camara collects redundant computers from Irish organization and individuals. These computers are refurbished by Camara before being shipped out to Africa where they are set up in 'Learning Centres' in schools and colleges. Any equipment that can not be re-used in this fashion is then re-cycled in Ireland according to the EU WEEE Directive. Since 2005, Camara has processed approximately 18,500 redundant Irish computers, some 15,500 of which have been re-used as educational tools with the remaining 3,000 being recycled. Re-used computers are shipped, in bulk by container to our Technology Hubs in Africa where further processing takes place. Each 40 foot container typically holds approximately 500 machines. Our Technology Hubs in Africa carry out additional quality control tests on the machines before loading a full package of educational software onto them. These machines are then installed in Learning Centres in African schools to provide education tools to some of the poorest people in the World. H. Education Delivery is run through our Technology-enhanced Learning (TeL) Division. In order to support these education tools and promote our Technology-enhanced Learning (TeL) program, our Technology Hubs also provide other key services: L Maintenance Support. Each school signs a maintenance contract with Camara which ensures that the Learning Centres are kept operational should any technical issues arise. 2. Teacher Training. In the majority of schools where Camara has installed computers, African teachers have little or no knowledge of how to use them. Therefore as part of our sales contract, Camara organizes a variety of training programs, aimed at teachers, which shows them how to effectively use the computers as learning tools. This training consists of: Basic computer literacy skills. The Pedagogy of ICT. Essentially how to use Information and Communications Technology - 3-

12 CAMARA EDUCATION LIMITED THE DIRECTORS REPORT (continued) YEAR ENDED 31ST DECEMBER 2009 (lct) to teach other subjects such as science and maths. Learning Support. For selected teachers this would include: basic maintenance; administration of the Learning Centre; and 'Train the Trainer' courses. 3. Computer Recycling. At the end of a computer's life, schools are encouraged to return the machine to the Hub where they will be re-cycled according to strict Carnara guidelines. 1. Carnara works in seven African countries - Zambia, Ethiopia, Rwanda, Kenya, Lesoto, Tanzania and Uganda and have set up local Technology Hubs in six of these counties, Tanzania being the exception. These hubs act as partners in delivering the Camara educational model directly to schools. Camara's European headquarters is in the Digital Hub, Dublin and our African headquarters is in Kampala, Uganda. J. Achievements and Performance During the year to December , Camara has achieved the following: 1. Refurbished and set out 6,546 fully working computers for schools and colleges in: Ethopia, Kenya, Uganda, Zambia, Lesotho, Tanzania and Rwanda. This compares to 4,623 machines sent out in Sent 82 ICT trainers to seven countries where they trained over 1,500 African teachers and administrators in basic computer literacy skills. 80 Trainers were sent in Set up two new Carnara computer refurbishing and training centres in Rwanda and Zambia. 4. Established a Carnara Africa Headquarters in Kampala, Uganda. 5. Divided our business into two operatingn divisions; Technology Deployment; and Technology-enhanced Learning. 6. Established a comprehensive Monitoring and Evaluation system which acquires and analyses key statistics from our delivery program. K. Financial Review Camara is financed by a variety of sources: grants from Irish Aid; private donations; own fund raising activities; and certain revenue generating activities such as computer re-use. The vast majority of its funding is generated in Ireland. Wages and salaries are the biggest expenditure followed by the cost of our computer volunteer trip to Africa. Camara finished the financial year with a surplus of 44,068. CURRENT BOARD Maria Mahon - Chairman Niall O'NeiJl - Secretary Clare Fay - Treasurer Jonathan Kelly Joe Carthy Manette Ramaili Gary McDarby (Resigned 01103/2010) LEGAL STATUS The Company is incorporated under the Companies Act 1963 is limited by guarantee and does not have a share capital. - 4-

13 CAMARA EDUCATIO LIMITED THE DIRECTORS REPORT (continued) YEAR ENDED 31ST DECEMBER 2009 RESULTS AND DIVIDENDS The surplus for the financial year was: 44,068 IMPORTANT EVENTS SINCE THE PERIOD END 1. Camara has withdrawn from its partnership with Harambee College in Ethopia due to conflicting objective between both parties. We are in the process of establishing a new NGO in the country. 2. A new CEO has been appointed to our SNL-Camara Technical Service Centre in Lesotho. 3. Gary McDarby has resigned from the Board of Camara Education and taken up a position as interim Chairperson of the Board of Camara Kenya. 4. Camara Ireland has been set up as a business unit of Camara Education to offer computer training and support to disadvantaged Irish schools. STATEMENT OF THE DIRECTORS' RESPONSIBILITIES Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:- 1. Select suitable accounting policies and then apply them consistently; 2. Make judgements and estimates that are reasonable and prudent; 3. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Acts 1963 to They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. BOOKS OF ACCOUNT The directors are responsible for ensuring that proper books and accounting records, as outlined in Section 202 of the Companies Act, 1990, are kept by the company. To achieve this, the directors have appointed a qualified accountant who reports to the board and ensures that the requirements of Section 202 of the Companies Act, 1990, are complied with. These books and accounting records are maintained at the company's registered address at 40a Sandymount Avenue Dublin

14 CAMARA EDUCATION LIMITED THE DIRECTORS REPORT (continued) YEAR ENDED 31ST DECEMBER 2009 AUDITORS Grant Thornton and will continue in office in accordance with Section 160(2) of the Companies Act On Behalf of the Directors Niall O'NeiU Director Clare Fay Director Dated: - 6-

15 Grant Thornton CAMARA EDUCATION LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAMARA EDUCATION LIMITED YEAR ENDED 31ST DECEMBER 2009 We have audited the financial statements of Camara Education Limited for the period ended 31 December 2009 on pages 9 to 16. These financial statements have been prepared under the historical cost convention and the accounting policies set out on page 12. This report is made solely to the company's members, as a body, in accordance with Section 193 of the Companies Act Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS As described in the Statement of Directors' Responsibilities on page 5, the company's directors are responsible for the preparation of the financial statements in accordance with applicable law and the accounting standards issued by the Accounting Standards Board and promulgated by the Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Ireland). Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland and are properly prepared in accordance with the Companies Acts, 1963 to We also report to you whether in our opinion: proper books of account have been kept by the company; whether, at the balance sheet date, there exists a financial situation requiring the convening of an extraordinary general meeting of the company; and whether the information given in the directors' report is consistent with the fmancial statements. In addition, we state whether we have obtained all the information and explanations necessary for the purposes of our audit and whether the company's balance sheet and its profit and loss account are in agreement with the books of account. We report to the members if, in our opinion, any information specified by law regarding directors' remuneration and directors' transactions is not disclosed and, where practicable, include such information in our report. We read the Directors' Report and consider the implications for our report if we become aware of any apparent misstatement within it. BASIS OF AUDIT OPINION We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgments made by the directors in the preparation of the fmancial statements, and of whether the accounting policies are appropriate to the company's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the fmancial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the fmancial statements. -7-

16 Grant Thornton CAMARA EDUCATIO LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAMARA EDUCA TION LIMITED (continued) YEAR ENDED 31ST DECEMBER 2009 OPINION In our opinion the financial statements give a true and fair view, in accordance with GeneralIy Accepted Accounting Practice in Ireland of the statement of the company's affairs as at 31 st December 2009 and of its surplus for the year then ended and have been properly prepared in accordance with the provisions of the Companies Acts, 1963 to We have obtained all the information and explanations we consider necessary for the purposes of our audit. In our opinion, proper books of account have been kept by the company. The fmancial statements are in agreement with the books of account. In our opinion the information given in the Directors' Report on pages 3 to 6 is consistent with the financial statements City Quay Dublin 2 GRANTTHORNTON Chartered Accountants & Registered Auditor 29 th June

17 CAMARA EDUCATIO LIMITED COMPANY LIMITED BY G ARA TEE STATEMENT OF FINA CIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2009 Unrestricted Restricted Total Total Note Funds Funds INCOMING RESOURCES Income resources from generated funds - Voluntary income - Iris O'Brien Foundation 100, , ,000 - Other Donations 62,453 5,200 67,653 38,872 - Mycharity.ie 13,983 - Civil Service Third World Fund 10,000 - David Manly Award 10,000 - ECDLFoundation 3,000 - Activities for generating funds - Recycling 109, ,590 84,370 - Sale of computers 72,321 72,321 22,351 Income resources from charitable activities - Irish Aid Civil Society Fund Grant 501, , ,820 - Electric Aid 8,000 8,000 - FAS 12,796 12,796 9,528 - Vodafone Foundation 25,683 - Africa Volunteers 211, , ,078 INVESTMENT INCOME Other income 2,212 2,212 3, Total incoming resources 346, ,276 1,085, , RESOURCES EXPENDED COST OF GENERA TING INCOME 4 91,440 91,440 66,038 CHARITABLE ACTIVITIES 5 889, , ,795 GOVERNANCE COSTS 6 61,258 61,258 47, Total resources expended 152, ,086 1,041, , Net income resources 193,878 (149,810) 44,068 96,309 Transfers between funds (149,810) 149,810 Total funds at beginning of year 132, ,716 36, Total funds at end of year 176, , ,716 ====== ---- All of the activities of the company are classed as continuing. The company has no recognised gains or losses other than the results for the period as set out above. ial statements were approved by the directors on the l'l 110\ 10 and are signed on their behalf by: Niall O'Neill Director ~'J Director ~ - 9-