KIDCARE FINANCIAL REPORT Kidcare International is and has always been a body that is financially stable. As yet we have not been able to generate a reserves or investment account. The means of building this cash reserve will be investigated. We do tend to operate on ‘if funds are given then the project will be supported policy’. Gift Aid for the charity is a great boost to its income. Being both a company and charity means yearly accounting to both Companies House and the Charity Commission here in the UK which we dutifully comply with yearly. OUR CHALLENGES: - We are still challenged to increase our income by raising benefactors’ numbers.
Problems sometimes occur with people discontinuing their regular donations to Kidcare due mainly to redundancy at work or losing their jobs. The greatest challenge has been to fund all our children now going into secondary schools and a few who have had places in colleges and are moving into university. Also the present inflationary prices in poor nations has been met with a cry form our co-ordinators all over for more money to support projects. There has also been a strain on our financing due to our move into an office from May 2008 and the increase in allowances for support staff. This move however was essential for the effective administration of Kidcare. The present office now supports administrative volunteers, our filing, computers and printers and also receives visitors. Additional costs though come in the form of rent, utility bills , production of newsletters to keep our sponsors and benefactors informed. These are areas where there is a great need for sponsorship.
The figures below compares the 12 month period April 2008 - March ending 2009 and the 18 month period October 2006 - March 2008 NOTES:
1/04/08 to 31/03/09 £
TOTAL INCOME TOTAL EXPENDITURE
54275 54109
56179 55192
CHILDREN’S EDUCATION (school fees, clothing, support for nursery and primary schools, teachers allowances, books and requirements)
15957
23785
PROJECTS ( children’s homes purchase of land, feeding projects, support for pastors families, medical costs, nursery and primary schools, income generating)
17999
18,646
STAFF COSTS 7634 ADMINISTRATION COSTS;- 12519 Office equipment and supplies, printing, newsletters, postage, correspondence, Rental, Business tax, utilities, bank international transfer cost and other fees
2542 10219
FIXED TANGIBLE ASSETS CURRENT ASSETS - Cash at Bank NET CURRENT ASSETS (Less liabilities)
25905 3985
24462 3272
1995
3272
Kidcare 2009
16/10/06 to 31/03/08 £
1. 2008/09 covers a twelve month period whereas the previous year, 2006/08, show figures over an eighteen month period.
2. There was a 45% increase in donations in the last year matched by an increase in expenditure. Education expenditure remained around the same over the two periods. Expenditure on projects increased by 44% in the last financial year. 3. Increase in staff costs were due mainly to the short term employment, of a part time administrator and payment of some volunteer expenses. They were needed to man the new Kidcare office/centre in 2008. Their short term employment came to an end in February 2009. 4. Increase in administrative costs were also due to the opening and operation of the Kidcare Centre/ Office in 2008. To cut down on administrative costs in this financial year, 2009 -2010, Kidcare has moved office to our current location and left some utility providers. 5. We continue to seek financial support specifically donated to meet adminstrative costs as these costs are necessary to see the machinery of Kidcare running. Thank You.
‘Let the children come me; for to them belongs the Kingdom of God.’ Luke 18:16
page 38