\\Company No: 3010064 DHAKA AHSANIA MISSION DIRECTORS REPORT AND FINANCIAL STATEMENTS 31 December 2011 Registered Charity No. 1053786
COMPANY INFORMATION DIRECTORS Mr M Shirley Mrs N Ahmed Mr K R Alam Mr D Fear Mrs S Saifullah Dr Y Khan Mrs Z Fear SECRETARY Mrs N Ahmed REGISTERED OFFICE 4 Hayne Close, Tipton St John Sidmouth Devon EX10 0BA BANKERS Santander 2 Triton Square, Regent s Place London NW1 3AN, REPORTING ACCOUNTANT Penrose & Co. 1
DIRECTORS ANNUAL REPORT The directors have pleasure in presenting their report together with the audited financial statements for the year ended 31 December 2011. ACTIVITIES AND BUSINESS REVIEW The Trust was established in 1995 under the Memorandum and Articles of Association, to relieve poverty, distress and suffering in any part of the world giving preference to Bangladesh by providing educational and community services for persons who are in need thereof, by reason of their poverty, living in Bangladesh. The Trust is a company limited by guarantee (registered in England and Wales as company number 3010064) and not having a share capital. The Trust is also a registered charity, number 1053786. We work in partnership with Dhaka Ahsania Mission (DAM), a Bangladeshi-founded and Bangladeshirun non-governmental organisation that was established in Dhaka in 1958. We share its vision of a society free from poverty, in which everyone achieves fulfilment of his or her basic rights and improved social, economic and spiritual living conditions, irrespective of religion, political allegiance or ethnic identity. We support its work with some of Bangladesh s most vulnerable urban and rural communities, focusing on education, skills training, water and sanitation provision and trafficking prevention During 2011, we continued to provide support to urban community learning centres and a drop-in centre for working and street children in some of Dhaka s poorest slum communities, for which the major funding came from Comic Relief. We also funded skills training for older working children at two vocational training centres in Dhaka, gave ongoing support to a shelter home for victims of trafficking at Jessore in south-west Bangladesh. In addition, we provided support for the provision of arsenic free water filters and a large water, sanitation and hygiene project in southern Bangladesh. DAM Bangladesh runs all the projects. Planned activities for 2012 include support for the water and sanitation project in Satkhira district, and ongoing support to the community learning centres and the drop-in centre in Dhaka, to the shelter home for trafficked women and children at Jessore, and for further arsenic free water filters. RESERVES POLICY It is the Trust s policy to maintain a balance on unrestricted funds of 15,000 to cover emergency situations that may arise from time to time. RESULTS The income of the Trust for the year ended 31 December 2011 amounted to 143,086 and after deducting governance expenses of 2,910 support costs of 19,250 and donations of 121,728 the net outgoing resources for the year are 802. During the year, the level of activity reduced slightly due to the hardening climate for fund-raising. In the next year the Trustees are aiming at a further enhanced level of commitment to the Charity s priority projects. At the year-end there were funds carried forward, awaiting clearance from the Government of Bangladesh NGO Bureau for payment in 2012. Funds At 31 December 2011, the Trust s total fund balance was 94,337 (2010: 95,139). Of this, 24,933 (2010: 16,073) was in unrestricted funds, which should be expended on the purposes of the charity. DIRECTORS AND THEIR INTERESTS The directors who served during the year are as stated on page 1. All the directors are members of the Trust. DIRECTORS RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The directors are responsible for preparing the Directors Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to 2
DIRECTORS ANNUAL REPORT (Continued) charities in England and Wales 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 charity and of the incoming resources of the charity for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and apply them consistently; observe the methods and principles of the charities SORP make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The directors are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities. AUDITORS A resolution to reappoint Penrose & Co as reporting accountant will be proposed at the forthcoming annual general meeting. The report of the Directors was approved by the Board on 7 September 2012 and signed on its behalf by Martin Shirley 3
INDEPENDENT EXAMINER S REPORT TO THE TRUSTEES OF DHAKA AHSANIA MISSION I report on the accounts for the year ended 31 December 2011 set out on pages 5 to10. Respective responsibility of trustees and reporting accountants The charity s trustees are responsible for the preparation of the accounts. The charity s trustees consider that an audit is not required for this year under section 43(2) of the Charity s Act 1993(the 1993 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts (under section 43(3)(a) of the 1993 Act) to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act). to state whether particular matters have come to my attention. Basis of independent examiner s report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent examiner s statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which accord with accounting records and comply with accounting requirements of the 1993 Act have not been met; or 2. to which, in my opinion attention should be drawn in order to enable a proper understanding of accounts to be reached. Rosemin Farouk Shamsudin For and on behalf of Penrose & co Chartered Certified Accountants Suite 1Excelsior House, 3-5 Balfour Road, Ilford, Essex, IG1 4HP Dated 4
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2011 Incoming Resources Total Total Unrestricted Restricted Funds Funds Funds Funds 2011 2010 (Note 2) Voluntary income 30,178 112,834 143, 012 205,792 Investment Income 16 58 74 45 Total Incoming Resources available for Charitable Application 30,194 112,892 143,086 205,837 Resources Expended Costs of generating funds Fund raising - - - - Costs deductible - - - - Net Incoming Resources available for Charitable Application 30,194 112,892 143,086 205,837 Grants - (121,728) (121,728) (151,675) Governance costs (2,084) (826) (2,910) (2,624) Support costs (19,250) - (19,250) (2,398) Total Resources Expended (21,334) (122,554) (143,888) (156,697) Net Incoming / (Outgoing) Resources Transferred to Funds 8,860 (9,662) (802) 49,140 Funds Brought Forward 1 January 2010 16,073 79,066 95,139 45,999 Funds Carried Forward 31 December 2010 24,933 69,404 94,337 95,139 All activities are continuing and the retained surplus for the year was the only recognised gain or loss in the year. Notes on pages 7 to 10 form part of the Financial Statements. 5
BALANCE SHEET AS AT 31 DECEMBER 2011 CURRENT ASSETS Note 2011 2009 Debtors 4 1,309 3,321 Cash at bank and in hand 93,559 92,053 TOTAL ASSETS 94,868 95,374 Liabilities Creditors: Amounts falling due within one year 5 (531) (235) Net assets 94,337 95,139 FUNDS Unrestricted 24,933 16,073 Restricted 2 69,404 79,066 94,337 95,139 Notes on pages 7 to10 form part of the Financial Statements For the year ending 31 December 2011 the company was entitled to exemption from audit under section 477 (2) of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of Companies Act 2006. The directors acknowledge their responsibility for: I. ensuring the company keeps accounting records for which comply with section 386; and II. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its net outgoing resources for the financial year, in accordance with section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.. Approved by the Board on 7 September 2012 and signed on its behalf by: - Director M Shirley Director S. Saifullah 6
1 ACCOUNTING POLICIES 1.1 Accounting Convention NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2011 The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with applicable accounting standards, the Charities Act 1993 and the recommendations contained within the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) 1.2 Voluntary Income Donations are taken to the credit of the revenue account when received, as in common with many other charities voluntary donations cannot be fully controlled until received by the Trust. Other income is credited on an accruals basis. 1.3 Expenditure Expenditure including grants is charged to the revenue account on an accruals basis with the exception of donations, which are accounted for when payment is made. 1.4 Restricted Funds Commitments for specific charitable projects are dealt with by making allocations to restricted funds. 1.5 Unrestricted Funds Except where specifically provided for by the donors, the Trustees generally use an allowance of between five and seven and a half percent from restricted funds to cover administration expenses. 1.6 Interest income Interest income is allocated on a pro rata basis using the average balance. 7
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMEBER 2011 2 RESTRICTED FUNDS Education Community Cancer Total Total Development Hospital 2011 2010 Incoming Resources Voluntary income 68,131 44,703-112,834 188,655 Investment income 35 23-58 34 Total Incoming Resources Available for 68,166 44,726-112,892 188,689 Charitable Application Resources Expended Costs of generating funds Fund raising - - - - - Costs deductible - - - - - Net Incoming Resources available for Charitable Application 68,166 44,726-112,892 188,689 Grants (68,221) (53,507) - (121,728) (136,975) Governance costs (487) (339) - ( 826) ( 765) Total Resources Expended (68,708) (53,846) - (122,554) (137,740) Net Incoming / (Outgoing) Resources Transferred to Funds (542) (9,120) - (9662) 50,949 Funds Brought Forward 1 January 2010 45,351 33,632 83 79,066 28,117 Funds Carried Forward 31 December 2010 44,809 24,512 83 69,404 79,066 Education: This fund provides education to young girls, women and working children in both urban and rural areas. The Charity received 29,339 (2010: 44,797) from Comic Relief in respect of educating the working and street children of Dhaka. It received a grant of 20,000 to carry out research on its capacity and strategy to further its objectives of educating street children in Dhaka (see note3) Community Development: This fund provides lifelong learning and community development through the Ganokendra system, that work as libraries, platforms for training, information and issue based discussion centres. Cancer Hospital: This fund is used to build the Cancer Hospital in Dhaka. 8
3 TOTAL RESOURCES EXPENDED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMEBER 2011 2011 2010 Unrestricted Restricted Unrestricted Restricted Grants Education - 68,221 14,700 100,480 Community development - 53,507-36,495-121,728 14,700 136,975 Governance Costs Bank Charges 105 17 71 Travel 396-354 Evaluation 1,825 1,442 - Room hire 60-95 Printing, postage and stationery 265 211 Miscellaneous expenses 4-34 Audit fees 240 235 - Companies House 15 165-2084 826 1,859 765 Support costs Insurance 726-750 - Office equipment - 437 - Printing, postage and stationery - 211 - Consultancy 18,524-1,000 - Total 19,250-2,398 - Consultancy The charity carried out consultancy to assess its capacity and strategy to further its work in the educational field of street children in Dhaka. 9
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMEBER 2011 All Trustees and staff are volunteers and receive no remuneration. The Trustees are reimbursed with travel expenses of 395 (2010: 354). A trustee also received nil (2010: 1,000) in respect of expenditure incurred to seek further grants from Comic Relief. 4 Debtors 2011 2010 Income tax recoverable 724 1,537 Prepayments 585 1,783 1,309 3,320 5 Creditors: Amounts Falling Due Within One Year 2011 2010 Other creditors 531 Accrued expenditure - 235 235 235 6 Legal Status The Trust was incorporated on 16 January 1995 as a company limited by guarantee (registered in England & Wales as Company Number 3010064) and not having a share capital. The Trust is also a registered charity, number 1053786. The liability of each member is limited to 1. 10