DIRECTORS REPORT AND FINANCIAL STATEMENTS 2013

Transcription

1 STICHTING EMERGE KINDER FONDS DIRECTORS REPORT AND FINANCIAL STATEMENTS 213 CRÓP Para registeraccountants Datum: \,(1-L)S -2 ) \x-4

2 Contents page Board report 4 Budget Balance sheet 9 Statement of income and expenses 1 Cash flow statement 11 Basis of preparation 12 Division of expenditures 13 Notes to the balance sheet 14 Notes to the income and expense 16 Auditor's report 2 egisteraccountants Para- : Datum: k- _A-

3 E;OARD REPORT egisteraccountants Paraaf: Datum: &.--&-1_,:>kkk

4 ik emerge kinder fonds Geef Kinderen In Afrika Een Kans Stichting Emerge Kinder Fonds Board Report 21:, Who we are: Stichting Emerge Kinder Fonds (EKF) is a registered charity and 1-it:(!;-niit.11i d NICO based in The Netherlands. Our office is located in Amersfoort. Our Aims and Goals: Working with local indigenous communtities and organisations, primarily in Central and East Africa and South Africa, our aim is to develop sustainable programmes which will enable children and their communities to break free from poverty. We work in partnership through programmes which focus on food security, education, health care and child safety, providing financial aid and investment and capacity building support so that our partners are able to provide their own solutions to their specific needs and aspirations. Management and Governance: EKF is governed by a Board of Trustees in conjunction with an Executive Director. During the year, as part of a strategic development approved by the board, Ms Erica Waasdorp resigned as Director and Trustee, and the board approved the appointment of Mr Alex Haxton as Executive Director and Trustee, bringing with him over 2 years of international development experience. He has worked as a consultant to EKF for a number of years. In January 214 Huub Endeveld resigned as a trustee due to health issues. At the time of our annual audit there are three trustees. The board aims to recruit new trustees during 214. EKF moved offices early in 214 as part of the strategy implementation and this is projected to bring cost savings in addition to greater efficiency during the second half of 214 and beyond. The board also agreed to appoint new ;iuditors and accountants from 1st January 214. The name change from Wereld Nood Hulp to Emerge Kinder Fonds was fully implemented during 213 and the trustees believe that the overall response from donors and partners has been positive, although,as budgetted, there was a fall in donor income which can be attributed to the name change. Where we work: Our main focus, but not exclusively, is in Central and East Africa and South Africa. This is achieved through two main spheres of operation: Gifts in Kind: This is the (luwt( ion of appropriate requested high quality goods which include pharmaceuticals, medicines, education equipment and other supplies which complement local grant funded projects. Since 1995 EKF has established an effective GIK programme sourcing free donations from manufactureres and wholesale organisations. These are provided to our partners for free use (not for re-sale) and so strengthen local capabilities, often with EKF contributing supplies which otherwise could not be purchased or afforded by our partners. During 213 EKF shipped five containers to Malawi, South Africa, South Sudan and Uganda (2), The direct beneficiaries are estimated to be 42,5 individuals with a further 23, EKF seeks to strengthen this unique relief and development program on our years of experience and success. CROP Paraaf: Datum: registeraccountants

5 Cash Cirants: Cash grants provide financial resources to our local partners and in line with our programme strategy we have funded projects in Burundi, South Africa, South Sudan and Uganda. Funding was released within a three year strategy to achieve local project stability and long term sustainability. Examples of this strategy and our achievements are: Andrew Memorial School. Iganga, Uganda: In 212 our Executive Director visited Andrew Mermorial School and found that most classes met under trees and any buildings were temporary and not suitable for long term use. EKF agreed to a building programme over a three year period to include 9 classrooms, an office and separate toilets for boys and girls. In 213 EKF released funds for 6 classrooms and these were built in time for the new school year commencing September 213. The final phase for 214 includes a water well and iwcommodation for teachers. ' Words cnnnot fdlly express our gratitude to Emerge Kinder Fonds and your supporters. Children now love coming to our school and our results have been great. We have been able to increase the ntunber of pupils and each day over,1 children benefit from EKF. Thank you so much. You are grealy appreciated.' Daniel Mazinga. Head Teacher. Monte Christo Sports and Education (MCM), Paarl, South Africa: EKF have been working with MCM since 21 mainly providing funding for nutrition projects which run alongside the various sport activities. Within the townships in Paarl there are serious poverty issues with drugs, poor nutrition, school drop out and gang pressure. MCM uses sport to bring education, lifeskills training and mentoring. In 213 EKF provided funds to support the annual Christmas and New Year youth activities. Schools close for two months and the MCM programme looked to impact over 4, children and youth who otherwise would be on the streets. Francisco Naude. Sports and Education Director, MCM wrote to us. `Without the EKF funds we would not have been able to work with these children. Local funding from government bas been cut back but EKF enabled us to work with nearly 5, over the 6 week programme. Children and youth were happy and we were also able to feed the most vulnerable. In school holidays often children are without regular meals which they normally receive at school. Thank you so much EKF. You are miracle workers.' flurundi Bio Agriculture Co-operative (BBAC): BBAC run a co-operative in rural communities providing Friesian cross breed cows in calf to poor households and then assists in enabling daily milk production which provides good nutrition to the children; provides an income for each household and also releases children to attend school. There are ncw over 3 households participating. ' l'kf support ov(t the past i11S bas been atnazing. You (TJ such deer I thank God for EKF and its donors. You are trail: not. only individtull lives but whole communities. Thank you for your ongoing conunitment to alk; work.' Ëvariste Nchtyrul-:Lye..'roject 1.'11i ider and Director. Financial Ueview 21:;: The year finished positively considering the flat charity market and the impact of our name change. Income was reduced due to these factors but despite this we were able to directly impact over 6, beneficiaries through cash grant programmes and 42,5 through the Gifts in Kind donations. The accounts show a break even performance in line with budget expectations. During the final (wartel- of 213 a complete reveiw of all expenditure was implemented as well as a review of the management and operational structure. We were able to identify areas where savings could be made and these will release further funds for cash grant projects and Gifts in Kind donations from the second half of the 214 financial year. We received our first legacy bequest and also notificat ion ot two furth In the finill (Juarter of the year we were able to use a new donor analys activities and we immediately achieved costs savings and increased n1efiiééfin 4 s which will be received 214. I Datum: e-

6 We continued to prepare for the new Bank SEPA requirements and at the same time prepared to update our Database software. It is expected that the new SEPA process will have some negative impact on our direct debit income in the early part of 214 but we have planned to increase investment into the recruitment of new direct debit donors. The trustees believe that with great cost effectiveness and a stable income project, EKF will be able to increase the GIK and cash grant programmes during 214. Look forward: The Trustees believe that 214 wilt see increased programme commitments meeting the aims and objectives of Stichting Emerge Kinder Fonds. Alex D Haxton ixecutive Director and Trustee june 1st 214. Paraaf: Staionsstraat 79(, 3811 M I Amersfoort. The Netherlands - Telefoon: +31 Website: intboemergekinderfonds.nl- Bank: NL32ABNA KvK: A 1

7 te Amsterdam Page 7 BUDGET 214 INCOME 214 Budgeted 213 Realized 213 Budgeted Income from fundraising Income from investments Other income 6,62, ,2 7,835,285 1,64 112,26 8,388, , TOTAL INCOME 6,717,877 7, ,463,81 EXPENSES Spent for the aim Objective - Gifts in kind Objective - Projects Objective - Public Education 6,55, 75, 81,692 7,328,748 67,351 8,84 7,545, 72, ,976 6,211,692 7,476,93 7,777,23 Cast of fundraising Fundraising costs Costs - Other income 326,77 3,45 357, ,217 54,35 377, ,882 33, 67,882 Management and administration Management and administration costs 94,62 11,242 78,7 TOTAL COSTS 6,663,487 7,955,667 8,463,812 ideficit) / Surplus 54,39 (6,717) Para Datum: egisteraccountants «OS

8 FINANCIAL STATEMENTS 213 CROP registeraccountants Datum: 2o\4

9 te Amsterdam Page 9 BALANCE SHEET AS OF DECEMBER 31, 213 Actif December 31, 213 December 31, 212 CURRENT ASSETS Prepaid expenses 1 Other receivables 2 15,645 27,738 27,556 46,137 Cash at bank 3 179, , ,35 318,64 223,35 318,64 Passif EQUITY Other reserves 4 22,14 28,857 CURRENT UABILITIES 22,14 28,857 Accounts payable 5 Accrued expenses ,486 93,534 16,249 21,21 19, ,35 318,64 egisteraccountants Datum:

10 te Amsterdam Page 1 STATEMENT OF INCOME AND EXPENDITURE FOR THE PERIOD ENDED DECEMBER 31, 213 INCOME 213 Realized 213 Budgeted 212 Realized Income from fundraising 7 Income from investments 8 Other income 9 7,835,285 1,64 112,26 8,388, , 1,441,235 2, ,266 TOTAL INCOME 7,948,95 8,463,812 1,578,836 EXPENSES Spent for the aim Objective - Gifts in kind 1 Objective - Projects 11 Objective - Public Education 12 7,328,748 67,351 8,84 7,476,93 7,545, 72, ,976 7,777,23 9,689,841 79, ,83 9,897,284 Cost of fundraising Fundraising costs Costs - Other income ,217 54,35 377, ,882 33, 67, ,323 51, ,969 Management and administration Management and administration costs 15 11,242 78,7 91,715 TOTAL COSTS 7,955,667 8,463,812 1,551,968 (Deficit) / Surplus (6,717) 26,868 Paraaf: egister3ccountaits Datum: t&--1/4.) -2..UN

11 te Amsterdam Page 11 STATEMENT OF SOURCE AND APPLICATION OF FUNDS OVER THE FINANCIAL YEAR SOURCE OF FUNDS Surplus Net accruals 3,31 26,868 (22,78) APPLICATION OF FUNDS 3,31 4,16 Deficit Accounts payable and other accruals (6,717) (88,573) 68,144 (95,29) 68,144 Cash at bank increase (64,98) 72,34 Cash at bank as of January, 1 Cash at bank as of December, 3:1 244, , , ,947 Cash at bank increase (64,98) 72,34 registeraccountants Paraaf: :!DENTIFICAT1E-DOELEINDEN turn: 1-j%...,9-2 k4

12 te Amsterdam Page 12 BASIS OF PREPATION Statement of compliante The financial statements have been prepared in accordance with the Guidance for annual reporting 65 "Fundraising Institutions" of the Dutch Accounting Standards Board. Functional and presentation currency These financial statements are presented in euro, which is the charity's functional currency. Foreign currency transactions Transactions in foreign currencies are translated to the functional currencies at exchange rates ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Nonmonetary items in a foreign currency that are measured in terms of historica! cost are translated using the exchange rate of the transaction. Significant accounting policies The accounting policies set out below have been applied consistently to all periods presented in these financial statements. Assets and liabilities All assets and liabilities are stated at nomina! values, except when stated otherwise. Assets in use for objectives or in use for the operations There are no assets in use for objectives, all of the assets are used for the operations. Receivables Receivables are valued at historical cost, if necessary, lens a provision for bad debts, which is determined by an assessment of individual items. Income and expenses Income and expenses are recognized in the period to which they relate on an accrual basis. Taxation There are no taxes calculated because the foundation is exempted for in ;-.nci value added tax. -cgisteraccountants (a

13 te Amsterdam Page 13 DIVISION OF EXPENDITURES Personal costs E (1, ip ( cu r E C E f N > n) 1 ) To ro Spend on objectives Gifts in Kind Freight cosi Gifts in Kind Procurement costs Grants Public Education 8,84 12,886 7,292,68 36,68 54,464 7,292,68 36,68 12,886 54,464 8,84 Cost of fundraising 261,57 61,71 54,35 377,522 Cost of management and administration 31,9 18,11 26,381 24,851 11,242 Total ,311 44,787 61,71 8, 11 26, ,955,667 Budgeted ,778 33,5 58,8 22,2 18, 7,67,254 48, 8,463,812 Total ,873 4,243 57,28 31,36 15,843 9,753,23 72,463 1,551, Realized 213 budgeted 212 Realized Percent of Spending on objectives in relation to the total of income 94.1% 91.9% 93.6% Percent of cast of fundraising in relation to the total of expenditures 4.7% 7.2% 4.8% CROP Paraaf: registeraccountants Datum: t-kk-zokk-i

14 te Amsterdam Page 14 NOTES TO THE BALANCE SHEET AS OF DECEMBER 31, 213 December 31, December 31, Prepaid expenses Depot Euro Business Centre 7 7 Advance payments postage 8,21 Keystone consultancy 8,168 11,495 Other prepaid expenses 6,777 7,151 15,645 27, Other receiva bles Debtors 7,79 25,597 Accrued rental income 5,25 6,261 Accrued interest 1,64 2,335 VAT related to rental income 13,364 11,994 27,738 46, Cash at bank ABN Amro Bank, current account 69, ,88 ABN Amro Bank, current account 266 ABN Amro Bank, current account 11, , , ,76 egisteraccountants GF_WAARIviERKT VOOR :DENTIFICATIE-DOELEINDEN

15 te Amsterdam Page 15 December 31, December 31, Other reserves January lst 28, ,989 Surplus / Deficit (6,717) 26,868 22,14 28, Accounts payable These debts relate to service rendered: Other creditors , , Accrued expenses Accounting and audit fees 1,593 15,125 Bank charges 1,124 Expected costs 9,892 2,485 16,249 registeraccountants I IDENTIFICATiE-DOELENDEN

16 te Amsterdam Page 16 NOTES TO THE STATEMENT Of- INCOME AND EXPENDITURE FOR THE YEAR ENDED DECEMBER 31, Income from fundraising Realized Budgeted Realized Mailing actions 511,81 2;,8, l',.1 82,31 Gifts in kind 7,292,68 7,' ;, 9,638,925 Legacies 19,374 Other gifts 12,125 n 7,835,26 8,388,312 1,441, Income from investments Interest income 1,64 5 2,335 1,64 5 2, Other income Rental income Netherlands 61,75 5, 49,161 Rental income France 33,18 25, 44,378 Exceptional income 17,933 41, ,26 75, 135, Objective - Gifts in kind Gifts in Kind Freight costs Gifts in Kind 7,292,68 7,5, 9,638,925 36,68 45, 5,916 7,328,748 7,545, 9,689,841 ;we Par- registeraccountants

17 te Amsterdam Page Realized Budgeted Realized 11. Objective - Projects Projects 62,254 63,389 Monte ChristoMinisteries, South Africa 3,5 All Nations Christian Care 14,98 Rondebosch, South Africa 5, Andrew Memorial School Uganda 21, BBAC Burundi 9,984 Project support 12,886 1, 16,224 67,351 72,254 79, Objective - Public Education Cost of fundraising (see note 13) 8,84 159, ,83 8,84 159, , Fundraising costs Direct Mail production and mailing tost postage 336, , ,459 Telemarketing 5,658 4,414 Agency management 61,71 58,8 57,28 44,21 734, ,153 2% of this expenditure is considered to be spent for Public Education purposes (see note 12) 8,84 159, ,83 323, , , Costs - Other income Database management 54,35 33, 51,646 54,35 33, 51,646 episteraccountnnts CIEVVAAil MERKT VOOR!DENT!FiCATiE-DOELEINDEN

18 te Amsterdam Page Realized Budgeted Realized 15. Management and administrative costs Accounting and audit fees 18,11 22,2 29,264 Bank charges 7,716 1, 11,196 Legal fees 3,879 Management fee 3,385 23,5 24,19 Costs of Board of trustees 1,516 Professional services Secretarial services 26,381 18, 15,843 Travel costs 8,415 4, 3,17 Micellaneous 4,112 1, 7,472 11,242 78,7 91, Personnel The charity has no staff on the payroll, all necessary services are provided by third parties. i t 11)&ilm: GEWAtc.FI'ME-7 VOOR I ID2NTIFICAlcL-DOELEINDEN

19 AUDITORS REPORT viskg,-; Pal registerac.toultants CiEWAARMF.aKr VOOR IDENTiFICATiE-DOELEINDEN Datum: (1,j524

20 CROP registeraccountants Adres Opaallaan LN Hoofddorp Postadres Postbus AE Hoofddorp Page 2 To the board and directors of Stichting Emerge Kinder Fonds in Amersfoort INDEPENDENT AUDITOR'S REPORT Report on the financial statements We have audited the accompanying financial statements 213 of Stichting Emerge Kinder Fonds, Amersfoort, which comprise the balance sheet as at December 31, 213, the statement of income and expenses for the year then ended and the notes, comprising a summary of the accounting policies and explanatory information. Management's responsibility Management is responsible for the preparation and fair presentation of these financial statements and for the preparation of the report of the management, both in accordance with 'RJ 65 Fondsenwervende Instellingen'. Furthermore management is responsible for such internal control as it determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. Auditor's responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of Amersfoort Arnhem Ede Hoofddorp Nieuwegein T F W E info@crop.n1 PrimeGlobal SRA KvK BTW NL 95,

21 CROP registeraccountants Page 21 accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of Stichting Emerge Kinder Fonds as at December 31, 213, and of its result for the year then ended in accordance with `RJ 65 Fondsenwervende Instellingen'. Report on other legal and regulatoy requirements Pursuant to the legal requirement under Section 2:393 sub 5 at e and f of the Dutch Civil Code, we have no deficiencies to report as a result of our examination whether the director's report, to the extent we can assess, has been prepared in accordance with `RJ 65 Fondsenwervende Instellingen', and whether the information as required under Section 2:392 sub 1 at b-h has been annexed. Further we report that the report of the management, to the extent we can assess, is consistent with the financial statements as required by Section 2:391 sub 4 of the Dutch Civil Code. Hoofddorp, August 18, 214 :OP registeraccountants