REPORT OF THE DIRECTORS FOR THE YEAR ENDED 30 SEPTEMBER 2018
The Directors take pleasure in reporting as follows:-
STATE OF AFFAIRS The Company has received a total income of LKR 3,292,244,760/= during the year, of which LKR 2,880,181,685/= was received as remittances from World Vision International. Interest Income and income from the sale of assets and other disposable items amounted to LKR 88,847,351/=. Expenses on projects carried out during the year totaled LKR 3,032,497,609/= and administration expenses amounted to LKR 259,747,152/=. Income Tax for the year amounts to LKR 1,055,340/= which results in a net surplus after taxation of LKR 87,792,011/=
ACCOUNTS The Audited Accounts for the year ended 30 September 2018 and the Auditors’ Report thereon are in the hands of the members.
DIVIDENDS The Company does not pay any dividends to its members.
RESERVES The surplus of income over expenditure for the year, after tax, amounting to LKR 80,158,438/= net of the actuarial losses of LKR 7,629,864/= is transferred to the accumulated fund of the Company and the balance carried forward.
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World Vision Lanka | Annual Report 2018
