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MAGIC BUS INDIA FOUNDATION
FINAL ACCOUNTS
F.Y.2010-11
MAGIC BUS INDIA FOUNDATION
Address of Registered Office: Todi Estate, Room No.5, A wing, 2nd floor,Sunmill Compound, Lower Parel West), Mumbai - 400013, Maharashtra. Other State Offices: 1. Delhi Office
: C /105, Sector 36, Noida - 201301, Uttar Pradesh.
2. Hyderabad Office: House No.22, Pollishetti Enclave, Vikrampuri Colony, Karkhana, Secunderabad - 500009, Andhra Pradesh. Auditors: S.L.Makhija & Co., 701-B, Churchgate Chambers, 5 New Marine Mumbai - 400020.
Lines,
Bankers: 1. HSBC 2. Standard Chartered. 3. ICICI Bank. 4. HDFC Bank 5. Axis Bank 6. ING Vyasya Bank. Board of Directors: l. Mr. Matthew Spacie
Chairman & CEO
2. Mr.Deval Sanghavi
Director
3. Mr.Rajeev Dubey
Director
4. Ms. Samantha Nayar
Director
(
MANAGING COMMITTEE REPORT TO THE MEMBERS The Committee presents the Eleventh Annual Report, comprising of:• Review of the Financial Results of the Foundation for the year ended on 31March, 2011. • Report on the Foundation's Activities for the year 2010-2011. REVIEW OF FINANCIAL RESULTS The financial workings of the Foundation for the year ended 31st March 2011 are as follows: Particulars Income Expenses Surplus/(Deficit)
(R upees In . L a kh s) 31.03.2011 31.03.2010 (Rupees) (Rupees) 805.49 511.03 1022.73 569.35 (217.24) (58.32)
FINANCIAL HIGHLIGHTS: INCOME: The income for the year under review, at Rs.805.49 lakhs, has shown robust growth of about 58 %, compared to Rs.511.03 lakhs in 2009-10. The sources of this income shows that while the income from domestic sources remained almost at previous year's level, the income from foreign sources registered impressive increase of nearly 97%, up from Rs. 315.48 lakhs in 2009-10 to Rs.618.57 lakhs in this year. This was achieved due to concerted efforts to enter into long term, strategic financial partnerships with renowned international bodies such as Nike, Australian Sports Commission, The Premier League, Laureus Sports for Good, etc. EXPENDITURE: Notwithstanding the healthy increase in income, the growth in expenditure significantly outpaced the income. At Rs.1 022.73 lakhs in the year under review, compared to RS.569.35 lakhs in 2009-10, it showed an increase of about 80%. The magnitude of this increase was in line with expectations, as the bulk of it actually represents investments in creating infrastructure for expansion in various parts of the country and pool of skilled programme delivery manpower corresponding to the number of children targeted for outreach. The reaching out to an additional 58,585, as shown elsewhere in this report, in the year 2009-
10, is the outcome of higher level of expenditure. In spite of this, however, the ratio of administrative costs to programme costs (excluding depreciation) remained at 18 : 82. Our early success in programme expansion has attracted attention of diverse kinds of funding bodies, which are being vigorously pursued to consolidate long term availability of sufficient funds. SUST AINABILITY : Magic Bus continues to ensure it maintains a diverse set of funding streams. We restructured our India sustainability teams commensurate with the geographic spread of our national expansion. Another significant development during the year is now there are independent Magic Bus India focused registered charities in USA and Germany. These new offices are expected to consolidate funding requirements in the forthcoming years. Nationally as well as internationally, the funding community is becoming more and more assertive and demanding that the funds provided by them are unsparingly put to desired use. This is bringing in better due diligence processes, where, among other things, good governance matters a great deal. Magic Bus fares well on governance parameters laid down by agencies like Credibility Alliance and Give India, who are certifying bodies in this regard. UPDATE & HIGHLIGHTS: The year 2010-11 would mark as a watershed year in the Magic Bus's eventful journey so far. The era of transformational growth, the foundations of which were laid in 2009-10, picked up scale and speed in 2010-11, extending the programmatic boundaries of Magic Bus's strong belief that young people can change their behavior to positively shape their lives. The organizational restructuring into four verticals reported last year was further refined to take out the component of Mumbai City programme delivery from Programme Development vertical and merge it with Programme Delivery vertical which spearheads the national expansion. As a consequence, the Programme Development vertical is now entrusted with the all important mandate of developing research driven, customized curriculums for academic and professional applications of sports for development philosophy and developing training tools for the same. Besides the development of the aforesaid intellectual property material, this vertical is also tasked with the responsibility of suitably upgrading tools and systems of monitoring and impact evaluation function, in order to address the emerging challenges from rapidly expanding scale of operations, and creating a distinct footprint for training and accreditation function. Major highlights of the four verticals are detailed below.
PROGRAMME DEVELOPMENT: As reported last year, Magic Bus has been consistently setting new benchmarks of impact. This year in an ongoing evaluation of programme impact at scale, the organization, with its new structure will put additional focus on building specific programming in four key areas; health, livelihood, education and gender. The team size fro creating these curriculum with grow from 3 to 15 staff. . It is therefore strategically well placed to conduct further research in impact areas wherever necessary and develop reliable, authentic and userfriendly curriculums on various aspects of using sports and outdoor activities for the benefit of marginalized privileged children. The development work for these intellectual properties, which started in 2009-10, is completed in regard to the following. Curriculums/manuals/reports
Description
developed in 2010 -2011 Facilitators Manual
This manual is for facilitators working with children in S4D to enhance their personal and social skills.
Training of the Trainer Manual
This manual is for trainers who would be developing the capacity of the facilitators.
PYKKA Manual
Participated in the development of the PYKKA curriculum framework. Thereafter, a two day sport for development module was developed and put in the PYKKA curriculum. This curriculum is being utilized by the master trainers of different states to deliver PYKKA S4D module within their respective state.
SAAP Manual (Sports authority of
Developed a Kridashree S4d curriculum for the
Andhra Pradesh)
PYKKA programme of Andhra government.
Monitoring and Evaluation manual
After 3 years ofM&E work developed a Practitioners M&E manual. Started process with LNUPE for starting a certificate course on S4D within the University for B.Ped students
Coillaboration with Laxmibai National University of Physical Education, Gwalior.
Developing application of measurement tools of Monitoring & Evaluation for National Programme.
Developing M&E plan, process and training for national programme. Basic structure was laid out, few trainings happened but because of Review of Impact areas and programme intervention and strategy we needed to relook M&E systems and process as well.
The training and accreditation function, responsible for implementing training of trainers module, conducted 9 training camps under the aegis of PYKKA, Nehru Yuva Kendra Sanghathana and Mizoram State Sports Council, and collectively trained 621 master trainers.
Programme Delivery : This vertical is the mainstay of Magic Bus's ambitious forays into large scale geographical expansion of its sports for development outreach programme. The nodal hub for national programme was already set up at Noida, Uttar Pradesh in 2009-10. During the year under review, state office for Andhra Pradesh was established in Hyderabad, and alongside, several district offices to oversee programme implementation on the ground, i.e. Medak, Kurnool, and Hyderabad in AP, Chandrapur and Sangli in Maharashtra, and Govindpuri, Karakardooma, and Paschim Vihar in Delhi, were set up and became operationaL Collectively, these district offices turned in a strong performance of child outreach in their respective areas,. Following are the outreach statistics of the said national programme district offices. CHILDREN
Grand total
Boys
Girls
6736 5853 4556 17145
2400 4168 5077 11645
9136 10021 9633 28790
3635 4350 3442 3464 14891
2512 2200 2261 1912 8885
6147 6550 5703 5376 23776
3192 3192 35228
2827 2827 23357
6019 6019 58585
Delhi: South Central North West East Total Andhra Pradesh: Medak Kurnool Hyderabad Rangareddy Total Maharashtra: Chandra pur Total GRAND TOTAL
The local communities in the aforesaid districts have responded positively to Magic Bus's efforts and intentions, and it is evident from the fact that the number of girls in the total children outreached, constitutes about 40%. Mumbai city programmes are now part of the Maharashtra unit of national programme vertical. Considering constraints imposed by hardships in in this already over-congested city, the programme team delivered better performance compared to previous year. Summary of important statistics is as under.
Session details for the year 2010-11
Session details for the year 2009-10 Projects
Session
Session
No's of
Planned
Held
Children
Projects
Session
Session
No's of
Planned
Held
Children benefitted
benefitted
NGO
210
187
298
NGO
211
206
252
Voyagers &
315
304
376
Voyagers &
283
267
350
980
970
1662
Peers
Peers Community
799
764
1328
Community (Dharavi,
(Dharavi, BPT,
BPT,
Jogeshwari
Jogeshwari
&
&
Mankhurd)
Mankhurd)
Institution
210
184
384
Institution
239
204
293
Specialized
401
294
125
Specialized
436
436
155
Magic Bus
1935
1733
2511
Magic Bus
2110
2083
2712
The planning for the sessions has become sharper during the year under review, as is evidenced by the ratio of sessions planned against sessions actually held, which is 98% this year as opposed to about 90% in the previous year. Overall, the number of children benefitted increased by about 8% compared to previous year. Magic Bus Centre near Kariat
:
The second phase of construction at Centre started in January' 11 and it is expected to be completed by September' 11. It was felt that the new avenues of resource generation that we are tapping, viz, private international schools and
corporates, will take time to mature into viable and steady streams of revenue. In view of the same, it was decided to put on hold construction of one out of two dormitories and extension of toilet block, which was reported last year. Thus, currently the construction activities at Centre is confined to one dormitory and a learning pavilion for children. Due to the same reason, the land acquisition programme beyond the river, reported last year, was also slowed down, and it is expected to be completed in 2011-12. On the programmatic front, the children's programmes continues to be the key focus, but the utilization of the facilities at Centre is much better with a broader portfolio of programmees customized to suit needs and requirements of diverse groups of people. This would greatly impact our financial sustainability and outreach capacity in future. In terms of the regular programmes conducted for children, the tables below gives an indication of the level of activities. For the year 2009 - 10
For the year 2010- 11
Adventurer Programme
Adventurer Programme
Planned Daytrips (in centre) Daytrips (outside centre)
Total no. of children
Held
7
7
663
42
29
960
37
1346
9
8
251
108
2 days Camp (centre)
16
14
413
431
3 days Camp (outside centre)
8
8
311
3 days Camp (centre)
30
20
588
5
5
70
6
2 days Camp (centre)
6
3
Total
45
192
12
Expedition
1359
202
284
14
8
6
12
14
5
6
12
3 days Camp (centre)
Held
Overnight trek 2 days Camp (outside centre)
Overnight trek 2 days Camp (outside centre)
3 days Camp (outside centre)
Planned Daytrips (in centre) Daytrips (outside centre)
Total no. of children
29
17
414
4
3
63 3115
Expedition Total
4540
In the Adventurers programme, for the children associated with our graduation programme as well as the children who mainly come through our NGO partners and institutions not associated with graduation programme, compared to 200910, the number of children who benefitted went up sharply from 3115 to 4540, showing a smart increase of 45%
GENERAL: Maidan Summit: Magic Bus hosted in May' 10 at Tata Institute of Social Sciences and Magic Bus Centre, a three day Maidan Summit, 2010, the first-ever Sport for Development National Meet in India. The objectives of the Summit were to provide an interactive forum for NGOs, policy makers, technical experts and donor agencies, advocate cross-sectoral use of Sport for Development (S4D), strengthen the S4D platform in India and rally together to support the Panchayat Yuva Khel aur Krida Abhiyan (PYKKA) mission of the Ministry of Youth Affairs & Sports, Government of India. This initiative very successful and was much appreciated by concerned stakeholders. Encouraged by its success, we will be hosting an international maidan sumeet in Delhi, in December'll. FICCI Conference: 'Changing Lives through Sports' was the theme of the conference that Magic Bus organised in Delhi in February'll, with support from Aditya Birla Centre of CSR in FICCI, British Council and Australian Sports Commission. . This platform also brought together those who have been supporting sports for development programmes and been meeting their CSR objectives. The conference served as a platform to share ideas for implementation, best practices, national and international experience among various CSR initiatives and sports fraternities.
EMPLOYEE STRENGTH: _The programming model of Magic Bus, which aims to reach out to one million children by the end of the year 2014-15, is necessarily people-intensive. While we have to recruit minimum number of people on our rolls to ensure qualitative primacy of our sports for development programmes, we also have to guard against being over-staffed. Keeping the ideal ratio of our staff vis-a-vis the children in each district where we operate, manpower requirements are projected in the programme model itself. Thus, we have 376 number of
employees with us at the end of 20 10-11 as against 160 employees at the end of 2009-10, an increase of 135%. BRAND COMMUNICATION: Realising the importance of creating wide spread awareness for Magic Bus's vision based on the philosophy of engaging young people as role models to change the paradigms of education, livelihood, gender and heaeath through a sports based curriculum" we engaged a renowned brand communication consultant, Dr.Sanjeev Kumar. He was asked to create an effective brand communication architecture which is capable of being applied across locations and offices, crafting core / key brand messages which will enable us to build Magic Bus brand sectorally across geographies. He was also asked to create vocabulary that is sector relevant and helps Magic Bus to create traction among all its internal and external stakeholders. MANAGEMENT TRAINING PROGRAMME: As Magic Bus assertively forges ahead with its plans of national expansion, it must also ensure to enable its managers to acquire requisite attitudes and skills necessary in multi-disciplinary team setting, to effectively manage the internal and external challenges thrown up by the changing face of organization. With this objective, we organized a one week management training programme outside Mumbai, which was attended by 22 of our senior managers. This programme was conducted by Mr.Homi Mulla, a very senior and renowned HR professional with 35 years of experience. The methodology was to analyze individual managerial personalities and styles through example based self assessment and peer review. Additional information
pursuant
to Give India norms:
Reimbursement & Remuneration to Board members: i. Mr.Matthew Spacie
Zero
ii. Mr.Deval Sanghavi
Zero
iii. Mrs. Samantha Nayyar
Zero
iv. Mr.Rajeev Dubey
Zero
3. Total cost of national Travel by staff/board members/ volunteers: Rs. 15,01,236/-
4. Number
of Employees:
Number of paid workers
in the organisation
No of persons
Regular Full Time
354
Regular Part Time
0
Full time contract staff
9
Part Time contract staff
2
Consultants
11
Other paid members (including paid volunteers)
0
TOTAL
376
COMMITTEE MEMBER'S RESPONSffiILITY STATEMENT: Pursuant to the requirement under Section 217 (2AA) of the Companies respect to Members' responsibility Statement, it is hereby confirmed:
Act, 1956 with
I.
that in the preparation of the annual accounts for the financial year ended 31 st March, 2011, the applicable accounting standards have been followed along with proper explanation relating to material departures;
ii.
that the committee members had selected such accounting policies and applied them consistently and made judgements and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the foundation at the end of the financial year under review;
III.
that the committee members had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
iv.
that the committee members had prepared the accounts for the financial year ended 31 st March, 2011 on a 'going concern' basis.
MANAGING COMMITTEE MEMBERS: There was no change in the composition of the Managing Committee during the year.
AUDITORS: Mis S. L. Makhija & Co., Chartered Accountants, the Auditors of the company retire at the ensuing Annual General Meeting and being eligible offer themselves for reappointment.
PERSONNEL: Your Company did not have any employees who are in receipt of remuneration of not more than Rs. 24 lakhs per annum or Rs. 200,000 per month for the year under review as per stipulations laid down in section 217 (2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975.
BY ORDER OF THE MAN
G
COMMITTEE
.S.L. MAKHIJA & CO •
CHARTERED ACCOUNTANTS
• AUDITORS REPORT Auditor's Report to the members of CHILD LINK INDIA FOUNDATION We have audited the attached Balance Sheet of CHILDLINK INDIA FOUNDATION, as at 31 st March, 2011 and also the Income & Expenditure Account for the year ended on that date annexed thereto. These fmancial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on financial statements based on our audit. We conducted our audit accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimate made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinion. The Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub- section (4A)of section 227 of the Companies Act, 1956, is not applicable to this Company as it is registered and licensed to operate under section 25 of the Companies Act, 1956 Further to our comments in the Annexure referred to above, we report that: (a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit; (b) In our opinion, proper books of account as required by law have been kept by the company so far as appears from our examination of those books; (c) The Balance Sheet and Income and Expenditure Account dealt with by this report are in agreement with the books of account; (d) In our opinion, the Balance Sheet and Income and Expenditure dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act,1956; (e) On the basis of written representations received from the Managing Committee Members, as on 31 st March, 2011, and taken record by the Managing Committee, we report that none of the members are disqualified as on 31 March, 2011 from being appointed as a committee member in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956;
701~BCHURCHGATE CHAMBERS, 5 NEW MARINE LINES, MUMBA.I- 400 020. TEL.: 6171 3690 FAX.: 22703690 E-mail: slmco@slmco.net
s.i. MAKHIJA •
CHARTERED
& CO
ACCOUNTANTS
• (f) Since the levy of cess under section 441 (A)has not been notified by the Central
Government till date mentioned herein below, the amount of cess leviable has not been paid nor provided for in the accounts. In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India •
in the case of the Balance Sheet, of the state of affairs of the Company as at ai- March 2011, and
•
in the case of the Income and Expenditure Account, of the Deficit for the year ended on that date.
FOR S. L. MAKHIJA 8&CO.
CHARTERED
ACCOUNTANTS
Reg No : 105893W
Sanjay khi Proprietor Membership No: 042150 Mumbai : 20 September 2011
701'-B CHURCHGATE CHAMBERS, 5 NEW MARINE LINES, MUMBA.ITEL.: 6171 3690 FAX.: 2270 3690 E-mail: slmco@slmco.net
400 020.
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION) BALANCE
SHEET
AS AT 31 MARCH
2011
Schedule SOURCES
31.03.2011
31.03.2010
Rupees
Rupees
OF FUNDS
I - Funds Membership Fund Centre Fund Assets Fund Self Sustainability Fund
a) Income & Expenditure
APPI.ICAIION
1
Account
2
Assets,
3 4 5
Current
Liabilities
84,366,701
53,813,593
50,875,512
6
Liabilities
Assets
For S.L. MAKHIJA CHARTERED
28,029,598 4,898,605 3,211,132
19,408,975
36,139,335
8,917,473
2,648,147
8,917,473
2,648,147
10,491,502
33,491,188
64,330,095
84,366,701
11
& CO. ACCOUNT
15,358,987 468,844 3,581,144
and Provisions
Notes on Accounts Schedules 1 to 11 form an integral part of the accounts. As per our attached report of even date
eg.No.
64,330,095
Loans & Advances
- Cash & Bank Balance - Receivables - Loan & Advances
Net Current
1,924,857
25,000
IV - Investment
- Current
(19,799,250)
OF FUNDS
III - Fixed Assets
VI - Less:
64,089,909 7,911,580 10,438,356
& Surplus
II - Reserves
v - Current
Behalf of the Managing co~
,
105893W
----:
Gaurang Mehta Head - Legal &
Propri
Mumbai
/
ANTS
San Membership
2,000
2,000 64,789,909 8,899,080 10,438,356
Secretarial
No.: 042150 : 20 September,
2011
Mumbai
: 20 September,
2011
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION) INCOME
& EXPENDITURE
ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2011
31.03.2011 Rupees
31.03.2010 Rupees
31,601,303 13,762,881
A
61,856,953 6,689,613 3,520,919 975,926 7,438,451 66,794 80,548,657
8 9 10 2
81,644,776 16,081,189 30,897 4,515,902
B
102,272,764
44,772,400 7,842,886 30,611 4,273,342 15,996 56,935,235
(21,724,107)
(5,831,968)
Schedule INCOME Contributions Received - In Foreign Currency - In Local Currency (INR) Income from Events & Activities Other Income Center Service Charges
7
Proht on sale of Asset
912,516 4,826,567 51,103,268
EXPENDITURE Expenses on Activities Administrative Expenses Financial Expenses Depreciation Loss on sale of assets
Surplus Clf to Balance Sheet
A-B
Notes on Accounts Schedules 1 to 11 form an integral part of the accounts. As per our attached report of even date
11
For S.L. MAKHIJA & CO. CHARTERED ACCOUNT ANTS Reg.No. 105893W
Behalf of th, Managing CO~I
Sa . Prop Membership No.: 042150 Mumbai : 20 September, 2011
Gaurang Meht~ Head - Legal 8<
Secretarial Mumbai : 20 September, 2011
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION) SCHEDULE FORMING PART OF THE BALANCE SHEET AS AT 31 MARCH 2011
SCHEDULE 1 : INCOME
Opening Balance b/ f Add: Surplus for the year
& EXPENDITURE
31.03.2011
31.03.2010
Rupees
Rupees
1,924,857
7,756,825
ACCOUNT
(21,724,107)
(5,831,968)
(19,799,250)
1,924,857
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILD LINK INDIA FOUNDATION) SCHEDULE FORMING PART OF THE BALANCE SHEET AS AT 31 MARCH 2011 SCHEDULE 2 : FIXED ASSETS
Particulars
Land Children's Centre Resources Centre Furniture & Fixtures Office Equipment Centre Equipment Electrical Fittings Office Renovation Computers & Accessories Printer Scanner Motor Cycle (Bike) Armada Jeep Bolero Two Buses (Ashok Leyland) Rickshaw
GROSS BLOCK As on 01.04.2010 6,978,113.00 17,797,496 9,702,465 2,537,636 291,150 8,032,198 2,459,053 1,056,950 2,666,679 69,765 2,500 39,000 243,471 951,298 4,383,817 200,066
Purchase
Sale
-
343,605 249,051 69,400 16,718 433,453 2,197,467 246,693 6,000 -
Nil Nil
As on 31.03.2011
DEPRECIA nON As on Sale 01.04.2010 Adjustments
As on 31.03.2011
Nil 2,844,365
Nil 747,657
1,050,516 953,638 104,928 2,389,595 1,006,088 757,334 1,486,461
432,597 320,992 50,119 789,507 265,490
Nil 475,649 Nil Nil
8,500 39,000 243,471 475,649 4,383,817 200,066
43,759 2,383 26,283 202,269 250,792 2,876,317 61,893
78,589 2,092 3,292 10,667.22 162,728 390,291.91 35,773
122,348 4,474 29,575 212,936 216,076 3,266,608 97,666
475,649
60,498,395
14,056,621
4,515,902
18,375,080
Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil
6,978,113 17,797,496 9,702,465
For the Year
2,881,241 540,201 8,101,598 2,475,771 1,490,403 4,864,146 316,458
244,356 981,750
197,443
Nil 3,592,021 1,483,114 1,274,630 155,047 3,179,103 1,271,578 1,001,690 2,468,211
NET BLOCK As on 31.03.2011 6,978,113 14,205,475 8,219,351 1,606,611 385,154 4,922,495 1,204,193 488,713 2,395,935 194,110 4,026 9,425 30,535 259,573 1,117,209 102,400 -
Total Add: Building W.l. P. Exps. ( Community Center) 8 Huts Back Land Hut Construction Capital Advance - Land
~
57,411,657
3,562,387
702,579
2,672,549
197,443
42,123,315
As on 31.03.2010 6,978,113 14,953,131 8,651,949 1,583,998 186,222 5,642,603 1,452,965 299,616 1,180,218 26,006 117 12,717 41,202 700,506 1,507,500 138,173 -
43,355,036
700,506.30
2,217,452 4,246,167
1,851,531
3,375,128
3,375,128
2,217,452
2,217,452
6,097,698
6,097,698 53,813,593
43,355,036
\r
l
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION) SCHEDULE FORMING PART OF THE BALANCE SHEET AS AT 31 MARCH 2011
SCHEDULE
5 : LOANS
205,857 15,153,130 15,358,987
536,325 27,493,273 28,029,598
468,844 468,844
4,898,605 4,898,605
1,033,364 2,547,780 3,581,144
722,162 2,488,970 3,211,132
7,996,926 920,547 8,917,473
2,535,562 112,585 2,648,147
250,392 680,535
355,992 260,926 97,528
& ADVANCES
(Unsecured, considered good) Advances receivable in cash or in kind or for value to be received Deposits SCHEDULE
Rupees
4 : RECEIVABLES
Outstanding for less than six months SCHEDULE
31.03.2010
Rupees 3 : CASH & BANK BALANCES
Cashin Hand Cash at Bank
SCHEDULE
31.03.2011
6 : CURRENT
LIABILITIES
For Outstanding Expenses For Duties and Taxes
SCHEDULE 7: OTHER INCOME Interest on FD Bank Interest Expense Reversal National Program Service Charges Miscellaneous Income
45,000 975,926
SCHEDULE
198,070 912,516
8 : EXPENSES ON ACTIVITIES
Day Trips & Weekend Camps Sports Programmes Expenses Programme Support Costs Organisation Capacity Building Fundraising Expenses Monitoring & Evaluation Centre Operating Expenses Train The Trainer
1,065,389 10,050,553 15,011,501
957,717 14,515,483
1,253,291 6,327,689 1,387,194 16,198,963 30,350,197
4,745,909 563,284 4,582,325 534,086 9,333,357 9,540,238
81,644,776
44,772,400
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILD LINK INDIA FOUNDATION) SCHEDULE FORMING PART OF THE BALANCE SHEET AS AT 31 MARCH 2011 31.03.2011 Rupees SCHEDULE 9 : ADMINISTRATIVE
31.03.2010 Rupees
EXPENSES
Accounting Charges Auditors Remuneration Communication Charges Company Secretary Fees Electricity Charges Entertainment Expenses External Consultant's Fees Insurance Charges Housekeeping Charges Miscellaneous Expenses Printing & Stationery Professional Fees Provident Fund- Admn & EDLI Cost PF Admin Charges Recruitment Expenses Rental Charges Repairs & Maintenance Charges (Office) Staff Salaries & Wages Staff Welfare Expenses Travelling Expenses Training Expenses Transportation Charges Office Rellocation-Admn Interest-Service Tax Fundraising Exp Board Meeting Expenses Written Off
566 165,450
7,521 159,402
448,520 24,491
348,945 62,367 322,284 141,691 143,749 177,642 184,191 25,254 141,441 154,626 12,453
497,766 20,669 298,020 69,663 190,735 3,928 96,926 834,852
689,206
105,732 376,411 524,453
232,035
254,086
5,052,034
4,010,856
2,060
50,780
569,603
125,779
206,335
411,910 3,557 97,757
1,421 2,966,515 8,285 3,702,110 16,081,189
7,842,886
30,898
1,975 28,636
30,898
30,611
SCHEDULE 10: FINANCE EXPENSES Interest Paid on Service Tax Bank Charges
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 Background: The company is Registered U/S 25 of the Companies Act, 1956 for promoting children's right to play and empowering them to bring positive developments in their lives through the medium of sports and outdoor activities .. A. SIGNIFICANT ACCOUNTING
1. Basis of Preparation
POLICIES:
of Financial Statements:
The financial statements have been prepared in accordance the Institute of Chartered Accountants of India.
with the Accounting
Standards specified by
2. Use of estimates: The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets & liabilities, the disclosure of contingent assets and liabilities on the date of the financial statements and reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates.
3. Accounting Convention and Revenue Recognition: The accounting statements have been prepared in accordance income and expenditure items are recognized on accrual basis.
with historical
cost convention.
Both
4. Fixed Assets: Fixed Assets are stated at cost of acquisition and subsequent improvement thereto inclusive of taxes, duties, freight and other incidental expenses related to acquisition, improvements and installation.
5. AS-II - Accounting for Foreign Exchange Transaction: It was observed that the foreign currency transactions have been accounted in accordance with AS-II issued by the ICAL The Contributions and Donations received in Foreign Currency in FCRA account have been booked at the prevailing rate on the date when the same have been received i.e. on the day of realization the exchange gain / loss has been recognised. The monetary assets in foreign currency if any have been revalued with the exchange rate prevailing on the date of the balance sheet. 6.
Accounting practices not specifically
mentioned are consistent with the accepted accounting practices.
MAGIC BUS INDIA FOUNDATION (Formerly
known as CHILDLINK
INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE
11: NOTES TO THE ACCOUNTS
(Cont. .. )
B. NOTES TO ACCOUNTS: 1.
2.
Significant Accounting
Policies
•
The Financial Statements are prepared under historical cost convention, unless otherwise stated.
•
Depreciation is provided for on Fixed Assets Companies Act, 1956 on Written down method.
•
Preliminary expenses are written off over a period of five financial years from the commencement activities of the Foundation.
•
The accounting policies accounting practices.
not specifically
generally on accrual basis
as per rates prescribed
referred
to are consistent
of
accepted
The Foundation has been registered as a company under the provisions of the Companies Act, 1956. By virtue of the license granted to the Foundation by the Central Government ofIndia under section 25 of the Act, the word "PRIVATE LIMITED" has not been used as a part of its name. The income of the Foundation is exempt from Income Tax under the provisions of section 11 of the Income Tax Act, 1961.
Nil
Contingent Liabilities
4. Capital Commitments (Towards acquisition
14,56,703.00
31.03.2010 Rs. Nil 27,59,833.00
of land- refer point no. 9)
5. Auditors Remuneration Audit Fee Income Tax matters Service Tax Matters Consultancy Charges Company Law Out of pocket expenses (Service Tax) TOTAL 6.
XIV of the
with the generally
31.03.2011 Rs. 3.
In Schedule
Expenditure
in Foreign Currency
1,50,000.00 4,137.00 Nil Nil Nil 15,450.00 1,69,587.00 29,29,058.00
99,270.00 10,000.00 10,000.00 5,000.00 Nil Nil 1,24,270.00 Nil
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILD LINK INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE 11 : NOTES ON ACCOUNTS (Contd.) 7. Earnings in Foreign Exchange - Contribution received towards - Activities - Center - Assets - Self Sustainability
6, 55,62, I03 7,00,000 4,00,000
2,86,27,814 1, 00, 97,228 4, 10,000
Nil
Nil
6, 66, 62,103
3, 91, 35,042
8. Credibility Alliance Norms Compliance I.
Distribution
of Staff Salaries including consultants and professionals
Less than 5000 5,000 - 10,000 10,000 - 25,000 25,000 - 50,000 50,000 - 1,00,000 Greater than 1,00,000
ii.
Staff remuneration
141 83 40 18 8
8
4
Rs.
N.A.
per annum
Highest paid:
Rs 16.40.004/-per
Lowest paid:
Rs. 48.000/-per annum
annum
Details of Foreign Travel during the year Name
Sohan Shah
Designation
Head-Sustainabil
Destination
Singapore
Purpose
Singapore Gala.
Gross Expense (Rs)
1,00,502/-
Sponsored by external organisation
219 112
60 32 16
5
[Gross annual salary + benefits] in Rupees
Head of the organization:
iii.
78 29 20 14
paid during the financial year
ity
MAGIC BUS INDIA FOUNDATION (Formerly
known as CHILDLINK
INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE 11: NOTES ON ACCOUNTS (Contd ..) Name
Matthew Spacie
Designation
CEO & Founder
Destination
Dubai
Purpose
Fund Raising
Gross Expense (Rs)
1,06,599/-
Sponsored by external organisation
Name
Matthew Spacie
Designation
CEO & Founder
Destination
London
Purpose
Gala & Fund Raising
Gross Expense (Rs)
1,96,349/-
Sponsored by external organisation
Name
Matthew Spacie
Designation
CEO & Founder
Destination
Muscut
Purpose
Fund Raising
Gross Expense (Rs)
9,674/-
Sponsored by external organisation
iv.
Details of Foreign Travel during the year Name
Anjana Turambekar
Designation
Asst. Trainer
Destination
Amsterdam
Purpose
KNVB Training
Gross Expense (Rs)
53,342/-
Sponsored by external organisation
MAGIC BUS INDIA FOUNDATION (Formerly
known as CHILDLINK
INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE 11 : NOTES ON ACCOUNTS (Contd.) Name
Vijay Dange
Designation
Trainer
Destination
Amsterdam
Purpose
KNVB Training
Gross Expense (Rs)
53,342/-
Sponsored by external organisation
Name
Ajay Shetty
Designation
Head Training Of Trainer
Destination
Johannesburg
Purpose
Exposure & Interaction vt children & org of other parts of the world
Gross Expense (Rs)
77,025/-
Sponsored by external organisation
Name
Rizvi Karamhussain
Designation
Trainer
Destination
Johannesburg
Purpose
Exposure & Interaction vt children & org of other parts of the world
Gross Expense (Rs)
77,025/-
Sponsored by external organisation
Name
Kimberly Miranda
Designation
Monitoring Officer
Destination
Johannesburg
Purpose
Exposure & Interaction vt children & org of other parts of the world
Gross Expense (Rs) Sponsored by external organisation
77,025/-
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE
11 : NOTES ON ACCOUNTS
(Contd.)
9. As reported in Note No.7 appearing in Schedule llcontaining Notes on Accounts in the audited final accounts for the financial year 2009-10, the company has continued with its land acquisition programme for about 4.25 acres, though the same was not yet completed as on the date of the Balance Sheet for the year 2010-11. Out of total amount of Rs.70,06,0001- (including stamp duty, registration, brokerage, documentation charges, advances for acquisition process facilitation etc) payable for plot(s) admeasuring 4.25 acres, the company has already paid Rs. 46,95,374/- as on 31/03/2011 (previous year Rs.42,46,1671-) . A further amount of 37,67,329/remains payable as on 31 st March, 2011, to various parties which includes certain other incompletel unconcluded carried over deals amounting to Rs.14,56,703/-. These payments are reflected as "Capital Advances" as part of Capital Work in Progress in the fixed assets' schedule of the balance sheet. During the current financial year, the company also commenced construction of an additional dormitory for children's accommodation and a Learning Pavilion for children at its Magic Bus Centre on the outskirts of Karjat in Maharashtra. The expenses incurred on various sanctions and approvals from diverse statutory authorities for the aforesaid construction will be capitalized in the current year 2011-12, when it is expected to be completed. The net amount of payment(s) made by the company towards land purchases and construction approvals, amounting to Rs.18,51 ,5311- are reflected as "Capital Advances" as part of Capital Work in Progress in the fixed assets' schedule of the balance sheet.
10. Leases: Lease of Asset under which all the risks and rewards of ownership are effectively retained by the lessor are classified as operating lease. Lease payments under Operating Leases are recognized as an expense on accrual basis in accordance with respective lease agreements. The disclosure as required by AS 19 in respect of operating leases in the books of lessee is given below. Lease Rental for the year - Rs. 38,39,0001-. Particulars Not later than one year Later than one year and not later than five years Later than five years Total
Rs. 41,74,300/-
31.03.2011
31.03.2010 Rs.33,60,000 /-
Rs.2,25,17,824/Rs. 55,12,820/Rs.3,22,04,944/-
Rs.1,45,57,200/Rs.1,80,53,244/Rs.3,59,70,444/-
MAGIC BUS INDIA FOUNDATION (Formerly known as CHILDLINK INDIA FOUNDA nON)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011
SCHEDULE 11: NOTES ON ACCOUNTS (Contd.) 11. Provisions and Contingent Liabilities: The Company recognises a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote, no provision or disclosure is made. 12. During the year under review the company has made a provision for Gratuity Liability for Rs.3,76, I 74/based on actuarial valuation done as on 31.03.20 II. as required under Accounting Standard 15 (viz., Accounting for Retirement Benefit in the Financial Statement of employers) issued by The Institute of Chartered Accountants ofIndia. 13. During the year under review the Company has written off certain balances which were brought forward under administrative expenses Rs. 37,02, II 0114. During the year under review the company has received donation in kind ofRs.9,87,500/-. DONATION RECEIVED FROM SONY
BRITISH DEPUTY HIGH COMMISSION
FIFA - SOUTH AFRICA HSBC HSBC KARIM CHROBOG
DETAILS LAPTOP & CAMERA
QTY LIST ATTACHED
30
CPU PRINTER SCANNER KEYBOARD MOUSE
4 30 30
SONY - A VIO LAPTOP
10
DESKTOP COMPUTERS MONITORS SET OF CPU, KEY BOARD, MOUSE VIDEO CAMERAS Total
APPROXIMATE VALUE
28500 446000
7
400000 45000
15 60000 15 3
8000 987500
15. Based on information available with the company, there are no Small Scale industrial whom the Company owes an amount exceeding Rs. One Lacs for more than thirty days.
undertaking
to
16. Under the Micro, Small and Medium Enterprises Development Act, 2006, which came into force on October 2, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. As no relevant information is available from the suppliers about their coverage under the Act., no disclosures have been made in the Accounts.
MAGIC BUS INDIA FOUNDATION (Formerly known as CHlLDLlNK INDIA FOUNDATION)
NOTES ANNEXED TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2011 SCHEDULE 11: NOTES ON ACCOUNTS (Contd.) 17. As the company is not a manufacturing concern, additional information pursuant to the provisions of paragraph 3 of Part II of Schedule VI of the Companies Act, 1956 has been furnished to the extent applicable. 18. The Previous year's Figures have been regrouped, wherever necessary, so as to correspond with those of the current year.
19. In the opinion of the Managing Committee and to the best of their knowledge and belief, the value on realisation of Current Assets, Loans & Advances in the ordinary course of activities should not be less than the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and neither in excess nor short of the amount reasonably necessary. Per our report attached to the Balance Sheet
For S. L. MAKHIJA & CO. CHARTERED ACCOUNTANTS
ForandonBehalfoftheManag;nc::
~~.
~ Proprietor
Mumbai: 20 September, 2011
o
*
Deval Mem
ghavi r
umbai: 20 September, 2011
~
Gaurang Mehta Head- Legal & Secretarial