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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

Audited accounts 2010-11  

Magic Bus India Foundation final accounts for the year ended 31st March, 2010

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