educational development - suas.ie · suleka sardar at anandalok school, part of the development...

R e p o rt s & F i n a n c i a l Stat e m e n t s fo r t h e ye a r e n d e d 3 1 s t D e c e m b e r 2 0 0 9

SuasEducational Development

C H Y 1 4 9 3 1

Suas Educational Development

1

Contents

Page

Company Information 2

Directors' Report 3 - 9

Independent Auditors' Report 10 - 11

Statement of Financial Activities 12

Balance Sheet 13

Cash Flow Statement 14

Accounting Policies 15

Notes to the Financial Statements 16 - 21

FRONT COVER PHOTOS, from left to right:

Suleka Sardar at Anandalok School, part of the Development Action Society, Kolkata, India.

Chloe Dempsey and Jenny O'Connor at the DCU Sports Ed Mentoring Project, Dublin, Ireland.

Juma K Ali and Eddy Patrick at Kongowea Primary School, Mombasa, Kenya.


2

Company Information

Chairperson Éanna McHugh

Chief Executive Dr. Colman Farrell

Directors Éanna McHugh

Michael King

Mike Williams

Philip Regan

Brian Davis

Brendan Tuohy

Laura Booth

Sadhbh Coyle

Secretary Éanna McHugh

Company Number 362631

Registered Office 14 St. Stephen's Green

Dublin 2

Auditors Browne Murphy & Hughes

Chartered & Certified Accountants

28 Upper Fitzwilliam Street

Dublin 2

Business Address 14 St. Stephen's Green

Dublin 2

Bankers Bank of Ireland

Lower Baggot St.,

Dublin 2

Charity Number CHY: 14931


Directors' Report for the year ended 31 December 2009

3

The directors present their report and the financial statements for the year ended 31 December 2009.

Constitution and Objects

Suas Educational Development (“Suas”) is a company limited by guarantee and not having a share capital. Suas is a registered

charity.

The main objects, as stated in the memorandum of association, for which Suas is established are:

- To promote local educational projects in communities in the developing world, and

- To encourage an awareness in Ireland in particular but not exclusively among students of issues facing the developing world.

Our Vision

A world where all young people are given the opportunity to realise their potential to effect positive change in our society.

Our Mission

To support quality education in under-resourced communities.

Our Values

Education: We believe the type of education an individual receives can considerably influence their likelihood of achieving

their potential and playing a meaningful role in shaping their communities. We believe a holistic education combines formal

education, the acquisition of a broad range of skills, a process of self-discovery and substantial exposure to both community

and global perspectives.

Role of Young People: We believe investing in young people is essential for long-term sustainable change in the world. Our

work is personified in the vibrancy, passion, optimism and energy of youthful people of all nationalities who we seek to engage

as volunteers. We believe strongly in the value of peer-to-peer education.

Partnerships: We believe maximum impact can be achieved through effective collaborations between the social, government

and private sectors and by employing the unique skills of each. We believe the objectives of the education organisations that we

seek to partner with must always be to the forefront of our thinking.

Respect & Diversity: We believe in the innate dignity of all people and believe we share an underlying common humanity. We

believe in a society where an individual‟s opportunity is defined not by their network, geography, colour or creed but by their

own ambition, potential and fundamental rights. We are secular and respect and value diversity including religious diversity.

Local Solutions: We believe the problems of any community have to be overcome by the members of that community. We

support local solutions to local problems.

Leadership & Society: We believe that leadership is best learnt through service to others, understanding their needs and

putting them first. We believe that we all have a role in shaping our society. We just need individual responsibility, the

collective will and capacity to effect change. We believe that we can best serve where our leadership talents meet the needs of

communities.



4

Structure, Governance and Management

Board of Directors

Suas is governed by a board of directors which directs and controls the organisation. The responsibility of the board includes

setting the organisation‟s strategic aims, providing leadership to put these aims into effect, supervising management and

reporting to stakeholders. The board‟s actions are subject to laws, regulations and the members in general meetings. The Board

meets regularly and delegates the day-to-day operation of the organisation to the CEO, management and staff.

The risks, to which Suas is exposed, have been assessed and reviewed by the Risk Subcommittee on behalf of the Board. A

plan has been established to manage and monitor those risks. This plan has been approved by the Board.

Staff and Management

There are fourteen full-time staff members in Suas, and a number of unpaid voluntary interns. The Partner Support Team,

Volunteer Programme Team, Office, Fundraising, Global Citizenship, Mentoring, Bridge to College Managers and the

Financial Controller all report directly to the CEO. The organisational chart that follows shows the reporting structure of Suas.

Organisational Chart

Board of Directors

Chief Executive

Officer

Partner Support Team

Manager

Partner Support

Specialist

Volunteer Programme

Team Manager

Volunteer Programme

Manager

Office Manager

Office Administrator

IT Support

Fundraising Manager

Communications Manager

Financial Controller

Financial Assistant

Global Citizenship Manager

Development Education Manager

Mentoring Manager

Bridge to College

Manager

B2C Development

Manager

B2C Programme Co-ordinator

Risk Sub-Committee

Strategy Sub-

Committee

HR Sub-Committee



5

Objectives and Activities

Suas‟ main objectives, set and achieved, for 2009 were:

To set over fifteen thousand children on the path towards receiving a high quality education to help them realise their

potential,

To build and engage a movement of three thousand three hundred people in supporting our partners, our mission and our

vision (directly as mentors and teaching assistants and indirectly as volunteers, fundraisers, campaigners and informed

citizens), thereby developing their leadership skills through service, and

To set and maintain Suas on the path towards being the leading education non-governmental organisation movement in

Ireland by the end of 2012.

Suas‟ main activities that contributed to the achievement of the above objectives included:

Supporting Suas partners in India and Kenya to improve the access to and quality of education in marginalised

communities through tailored education, advocacy and professional development initiatives,

Sending ninety young adults from Ireland in teams to work as volunteer teaching assistants in Suas partner schools in

India and Kenya,

Increasing access to third level education for students from underprivileged communities in Ireland through the „Bridge

to College‟ programme, an innovative group learning experience,

Providing mentoring support for people at the margins of the Irish education system by addressing educational

disadvantage, promoting social inclusion and promoting active citizenship,

Supporting the activities of the Suas network of societies in third level colleges throughout Ireland, and

Offering interactive development courses to better inform the Irish public of the major development issues affecting our

world.

Suas avails of considerable support from the community through voluntary work in the course of undertaking its charitable and

fundraising activities. There was on average an equivalent of five full-time volunteer interns working with Suas during 2009. In

addition, almost one thousand supporters volunteered their time on Suas mentoring and volunteer programmes, at events such

as „Shamrocks for Schools‟ on St. Patrick‟s Day and Suas fundraising activities throughout the year.

Fundraising and Communications

Suas receives financial backing for its programmes from Irish Aid, the Government of Ireland‟s programme of assistance to

developing countries. Grants are also received from companies, foundations and other NGOs to help fund Suas programmes.

Suas raises funds through the generosity of the Irish public. All funds raised directly from the Irish public go towards financing

the education projects of our partner schools in India and Kenya. Donations are also made on a one-off basis or through the

„Friends of Suas‟ regular giving scheme.

Suas adopts the principles of the Statement of Guiding Principles for Fundraising launched by the Irish Charities Tax Reform

Group in February 2008. This adoption is a requirement of the Charities Act 2009.



6

Monitoring and Evaluation

The CEO, Partner Support and Volunteer Programme managers regularly visit the overseas projects supported by Suas. During

2009, the CEO and Partner Support team carried out monitoring visits to all Suas partner projects in India and Kenya. An

independent consultant performed an external evaluation of the Suas Overseas Programme in order to assess Suas‟ work with

its volunteers and partners, and made recommendations to improve the effectiveness of our programmes.

Achievements and Performance

In 2009, Suas‟ Overseas Programme provided assistance to its 7 partner schools in India and Kenya. Suas provided ongoing

strategic advice, management advice and raised and gave direct financial assistance of €229,705 to our partner schools. This

enabled over four thousand children to access primary school through Pre-School, Coaching Support and Life-Skills

programmes, enabled over eight thousand children to receive a better quality education and supported the training of two

hundred and ten teachers. Partner school infrastructure projects were also funded with the building of a kitchen at Maweni

Primary School in Mombasa, Kenya, the re-roofing of Kongowea Primary School in Mombasa, Kenya and the purchase of a

resource centre for Development Action Society in Kolkata, India.

In Ireland, six hundred children and young adults benefitted from the Bridge 2 College learning model (in partnership with the

Trinity College Dublin „Access‟ Programme and the Centre for Research in IT in Education‟). Two hundred and eighty

children benefitted from Mentoring Projects including homework clubs, Traveller literacy initiatives and language support for

Refugees. Suas‟ 7 student societies, alumni and supporters nationwide engaged in their hundreds to make these projects

happen. Suas had three thousand five hundred attendees across 38 events, including „Extraordinary Lives‟ and two hundred and

seventy participants completed its Global Issues Courses about the challenges facing our world. There were also over five

thousand viewers of Suas-related videos online and sixty thousand visitors to www.suas.ie

Awards & Recognition:

Suas received the following recognition in 2009:

Jennifer Burke Award for Innovation in Teaching and Learning for the Bridge 2 College Programme,

Social Entrepreneurs Award for John Lawlor, Bridge to College Programme Manager,

Suas NUIG society voted most successful society in 2009 by faculty and students, and

Suas DCU society nominated for national society award.

Our partner school in Nairobi, Gatoto Primary School, won 6 awards at the Kenyan National Choral Championships.

http://www.suas.ie/



7

Financial Review

Income Breakdown

Total income for 2009 amounted to €1,323,560 (before the value of donated services and facilities of €70,190 is included) – an

increase of 1% on the prior year. Of this total, €1,041,562 (79% approx.) was in the form of restricted funds. The remaining

€281,998 was unrestricted. The increase was down to additional funding secured from Irish Aid and private foundations. Suas‟

main sources of income are shown in the graph below.



8

Expenditure Breakdown

Total expenditure for 2009 amounted to €1,148,295 5% below the prior year expenditure of €1,208,030 (before the value of

donated services and facilities of €70,190 is included). This reduction was due to decreased expenditure on both the Suas „In

Ireland‟ Programme (Global Issues courses, Mentoring and Societies component) and supporting the programmes. Suas‟

expenditure on each programme area is shown in the graph below.

Reserves Policy

Suas‟ policy is to retain sufficient reserves to ensure the continuity of its core programmes in the event of a shortage of funding

in any one year or of a delay in the receipt of promised funding. At year-end, these reserves stood at €383,650 which represents

four months of running costs.

Results and Dividends

The surplus for the year amounted to €175,265 (2008 surplus of €102,635). The company is precluded from paying a dividend.



9

Directors

The current membership of the board and company secretary is listed under company information on page 2.

Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the

state of the affairs of the company and of the surplus or deficit of the company for that year. In preparing the financial

statements, the directors are required to:

- select suitable accounting policies and apply them consistently;

- make judgements and estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will

continue in business.

- state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained

in the financial statements.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the

financial position of the company to enable them to ensure that the financial statements comply with the Companies Acts 1963

to 2009. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the

prevention and detection of fraud and other irregularities.

Books of Account

The directors are responsible for ensuring that proper books and accounting records as outlined in Section 202 of the

Companies Act 1990 are kept by the company. The directors have appointed appropriate accounting personnel to ensure that

these requirements are complied with. These books and accounting records are maintained at the company's premises at 14 St.

Stephen's Green, Dublin 2.

Auditors

The auditors, Browne, Murphy & Hughes, have indicated their willingness to continue in office in accordance with the

provisions of Section 160(2) of the Companies Act, 1963.

Signed on behalf of the Board

Éanna McHugh Philip Regan

Director Director

Date: 31 May 2010


10

Independent Auditors' Report to the Members of Suas Educational Development

We have audited the financial statements of Suas Educational Development for the year ended 31 December 2009 set out on

pages 12 to 21. These financial statements have been prepared under the accounting policies set out therein.

Respective responsibilities of directors and auditors

As described in the Statement of Directors‟ Responsibilities on page 9 the company‟s directors are responsible for the

preparation of the financial statements in accordance with applicable law and the accounting standards issued by the

Accounting Standards Board and published by the Institute of Chartered Accountants in Ireland (Generally Accepted

Accounting Practice in Ireland).

Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and

International Standards on Auditing (UK and Ireland).

This report is made solely to the company's members, as a body, in accordance with Section 193 of the Companies Act,

1990. Our audit work has been undertaken so that we might state to the company's members those matters we are required to

state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or

assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this

report, or for the opinions we have formed.

We report to you our opinion as to whether the financial statements give a true and fair view, in accordance with Generally

Accepted Accounting Practice in Ireland, and are properly prepared in accordance with the Companies Acts, 1963 to 2009.

We also report to you whether in our opinion: proper books of account have been kept by the company; whether, at the

balance sheet date, there exists a financial situation requiring the convening of an extraordinary general meeting of the

company; and whether the information given in the directors' report is consistent with the financial statements. In addition,

we state whether we have obtained all the information and explanations necessary for the purposes of our audit, and whether

the company's balance sheet and profit and loss account are in agreement with the books of accounts.

We also report to you if, in our opinion, any information specified by law regarding the directors‟ remuneration and

transactions is not disclosed and, where practicable, include such information in our report.

We read the directors‟ report and consider the implications for our report if we become aware of any apparent misstatements

within it.

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing

Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the

financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the

preparation of the financial statements, and of whether the accounting policies are appropriate to the company's

circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in

order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material

misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall

adequacy of the presentation of information in the financial statements.


11

Independent Auditors' Report to the Members of Suas Educational Development

Opinion

In our opinion the financial statements:

- give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the state of the

company's affairs as at 31 December 2009 and of its surplus for the year then ended; and

- have been properly prepared in accordance with the requirements of the Companies Acts, 1963 to 2009.

We have obtained all the information and explanations we consider necessary for the purposes of our audit. In our opinion

proper books of account have been kept by the company. The financial statements are in agreement with the books of

account.

In our opinion the information given in the directors' report is consistent with the financial statements.

Browne, Murphy & Hughes Registered Auditors

Browne, Murphy & Hughes

Chartered & Certified Accountants

28 Upper Fitzwilliam Street

Dublin 2

Date: 22 June 2010


12

Statement of Financial Activities

(incorporating an Income & Expenditure Account for the year ended 31 December 2009)

Incoming Resources Notes Restricted Unrestricted 2009 Total 2008 Total

Incoming resources from generated funds € € € €

Voluntary income 1a

Irish Aid 341,500 - 341,500

Foundations & NGOs 69,708 248,000 317,708

Volunteer Programme fundraising 243,100 - 243,100

Fundraising for overseas partner schools 229,705 - 229,705

Other donations 157,549 29,249 186,798

1,041,562 277,249 1,318,811 1,298,097

Investment income

Deposit interest - 4,749 4,749 12,568

Donated services & facilities 1b & 16 70,190 - 70,190 80,310

Total incoming resources 1,111,752 281,998 1,393,750 1,390,975

Resources expended

Costs of generating funds

Costs of generating voluntary income 4 - 39,123 39,123 40,128

Charitable activities 5

Overseas Programme 460,239 - 460,239

„In Ireland‟ Programme 325,190 - 325,190

Funding of overseas partner schools 229,705 - 229,705

1,015,134 - 1,015,134 1,055,912

Other costs 6

Indirect support costs - 88,816 88,816

Governance costs - 5,222 5,222

94,038 94,038 111,990

Donated Services & Facilities 1b & 16 70,190 - 70,190 80,310

Total resources expended 1,085,324 133,161 1,218,485 1,288,340

Net incoming resources 11 26,428 148,837 175,265 102,635

There are no recognised gains or losses other than the surplus for the above financial periods. These arise from continuing

operations.

The financial statements were approved by the board on 31 May 2010 and signed on its behalf by


Director Director


13

Balance Sheet

as at 31 December 2009

2009 2008

Notes € € € €

Fixed Assets

Tangible assets 8 3,900 5,930

Current Assets

Debtors 9 11,905 31,453

Cash at bank 771,213 504,548

783,118 536,001

Liabilities:

Creditors: amounts falling due within one year 10 (403,368) (333,546)

Net Current Assets 379,750 202,455

Net Assets 383,650 208,385

The funds of the charity:

Restricted Funds 26,428 -

Unrestricted Funds 357,222 208,385

Total Charity Funds 11 383,650 208,385

The financial statements were approved by the board on 31 May 2010 and signed on its behalf by


Director Director


14

Cash Flow Statement

for the year ended 31 December 2009

2009 2008

€ €

Reconciliation of net incoming resources to net

cash inflow from operating activities

Net incoming resources 175,265 102,635

Depreciation 3,709 9,223

Decrease in debtors 19,548 39,633

Increase/(decrease) in creditors 69,821 (12,595)

Interest Receivable (4,749) (12,568)

Net cash inflow from operating activities 263,594 126,328

Cash Flow Statement

Net cash inflow from operating activities 263,594 126,328

Purchase of Tangible Fixed Assets (1,678) -

Interest Received 4,749 12,568

Net cash inflow 266,665 138,896

Reconciliation of net cash flow to movement in

cash at bank

Increase in cash in the year 266,665 138,896

Net funds at the beginning of the year 504,548 365,652

Net funds at the end of the year 771,213 504,548


Accounting Policies

15

Accounting convention

The financial statements are prepared under the historical cost convention.

Basis of preparation

The financial statements are prepared in accordance with applicable law and the accounting standards issued by the

Accounting Standards Board and promulgated by the Institute of Chartered Accountants in Ireland (Generally Accepted

Accounting Practice in Ireland), which have been applied consistently (except as otherwise stated). The financial statements

are also prepared to comply with “Accounting and Reporting by Charities” (Charities SORP), the revised statement of

recommended practice issued by the Accounting Standards Board in 2000 and revised in 2005.

Income

Income is recognised when entitlement is established and amounts can be measured with reasonable certainty.

Tangible fixed assets and depreciation

Tangible assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less

estimated residual value of each asset over its expected useful life, as follows:

Office equipment - 33.33% Straight Line

Laptops & Printers - 20% Straight Line

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into euro at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All

differences are taken to the profit and loss account.


Notes to the Financial Statements


16

1. Income

1(a)Voluntary income Restricted Unrestricted 2009 Total 2008 Total

€ € € €

Irish Aid

Civil Society Fund 204,000 - 204,000

Development Education Unit 124,500 - 124,500

Other 13,000 - 13,000

341,500 - 341,500 324,425

Foundations & NGOs

IOB Foundation 12,965 248,000 260,965

Western Union Foundation 30,543 - 30,543

Social Entrepreneurs Ireland 15,000 - 15,000

Trocaire 8,000 - 8,000

Other 3,200 - 3,200

69,708 248,000 317,708 254,861

Volunteer Programme fundraising 243,100 - 243,100 227,640

Fundraising for overseas partner schools 229,705 - 229,705 307,555

Other Donations

The Dormant Accounts Fund 89,169 - 89,169

Pobail 50,880 - 50,880

Individuals 2,500 24,189 26,689

Private Business 15,000 - 15,000

Other - 5,060 5,060

157,549 29,249 186,798 183,616

Total Voluntary Income 1,041,562 277,249 1,318,811 1,298,097




17

1(b)Donated services & facilities

Donated resources are included in the Statement of Financial Activities where the benefit to the charity is reasonably

quantifiable and measurable. Suas avails of a number of donated services and facilities from its supporters free of charge or at

discounted values. These include office space, advertising, online database access and IT applications. The following analysis

shows the estimated values of these services and facilities, at prices Suas estimates it would pay or pay in addition in the open

market for such services and facilities.

Donor Nature of service/facility provided 2009 2008

€ €

Kalestone Ltd. Premises 30,560 47,180

Google Google Adwords & Applications 22,630 21,130

Salesforce CRM database 10,000 10,000

FR Kelly Trade mark advisory service 5,000 -

MOP Company secretarial service 2,000 2,000

70,190 80,310

2. Net incoming resources 2009 2008

€ €

Net incoming resources for the year is stated after deducting

Depreciation of tangible assets 3,709 9,223

Auditors‟ remuneration 5,199 5,153

3. Employees 2009 2008

Number Number

The average monthly numbers of employees during the year were:

Administrative 2 2

Direct Charitable 12 11

4. Costs of generating funds 2009 2008

€ €

Communications 3,050 4,196

Fundraising costs 3,538 2,707

Salaries and other staffing 32,535 33,225

39,123 40,128

18

5. Resources expended: charitable activities

OVERSEAS IN IRELAND

Funding of

Overseas Partner

Schools

Partner

Support

Volunteer

Programme

Overseas

Programme

Total

Bridge to

College

Global Issues

Courses

Mentoring &

Societies

„In Ireland‟

Programme

Total 2009 Total 2008 Total

€ € € € € € € € € €

Partner Projects &

Capacity Building

229,705 - - - - - 229,705

Programme Salaries - 66,924 48,545 81,924 21,204 38,658 257,255

Other Staffing - 15,236 15,912 24,500 4,051 10,812 70,511

Travel - 10,395 80,624 698 496 1,507 93,720

Partner Costs - 4,056 - - - - 4,056

Marketing &

Communications

- 6,105 8,030 750 6,832 3,654 25,371

Materials & Printing - 124 3,775 1,850 2,818 4,703 13,270

Training, Conferences

& Exhibitions

- 1,576 670 275 382 347 3,250

Volunteer training - - 29,218 - - 1,575 30,793

Facilitation - - - - 21,267 - 21,267

Mentoring sessions - - - 8,018 - 5,972 13,990

Health & Safety - 94 6,979 - - - 7,073

Overseas Costs - 6,188 54,070 - - - 60,258

Monitoring&Evaluation - 10,093 - - - - 10,093

229,705 120,791 247,823 368,614 118,015 57,050 67,228 242,293 840,612 883,448

Re-allocation of Direct

Support Costs

- 21,815 69,810 91,625 17,452 34,905 30,540 82,897 174,522 172,464

229,705 142,606 317,633 460,239 135,467 91,955 97,768 325,190 1,015,134 1,055,912




19

5. Resources expended: charitable activities (continued)

Charitable activities comprise direct programme costs plus allocated direct support costs. Direct programme costs are those

incurred wholly and exclusively for the primary objects of the charitable activity. Direct support costs represent general

expenditure which cannot be allocated specifically to a single charitable activity but can be allocated subsequently on a

reasonable basis. They include insurance, rent & rates, IT systems development and CEO remuneration. Direct support

costs are allocated based on the estimated amount of staff time and resources which each activity absorbs.

Breakdown of direct payments to overseas partners:

Overseas partner Project/Programme funded 2009

India €

Development Action Society ‘SHIKHA Education project’ 36,704

Construction of Resource Centre 28,113

Sabuj Sangha ‘Rehabilitation of Deprived Children Through Education project’ 35,000

‘Capacity Building of Centre Development Committee’ 9,375

Vikramshila ‘Education 2 Employability project’ 29,000

Kenya

Gatoto Primary School Gatoto Integrated Development Programme 77,430

Kongowea Primary School Re-roofing Project 10,483

Maweni Primary School Feeding Programme 3,600

Total 229,705

Suas made an intermediary transfer of €28,293 to the Digicel Foundation in Haiti on behalf of a third party. Suas had no

legal responsibility for ensuring the charitable application of these funds. They are therefore not included in the Statement

of Financial Activities. A similar transaction, amounting to €10,000, was recorded in 2008.

6. Other costs

2009 2008

Governance costs € €

Audit fees 5,199 5,153

Legal fees 23 1,150

5,222 6,303

Indirect support costs

Salaries 50,961 49,140

Taxation & social insurance 13,588 15,095

Intern support 5,936 -

Communications 5,789 5,816

Printing & stationery 4,720 17,150

Staff training 2,859 8,039

Other 4,963 10,447

88,816 105,687




20

7. Taxation

As Suas Educational Development has been granted charitable status under Section 333 (I) (L) Income Tax Act 1967, no

liability for taxation arises. Suas Educational Development's charity number is CHY 14931.

8. Tangible fixed assets

Total

€

Cost

At 1 January 2009 40,703

Additions during the year 1,678 _______

At 31 December 2009 42,381 _______

Depreciation

At 1 January 2009 34,772

Charge for the year 3,709 _______

At 31 December 2009 38,481 _______

Net book values

At 31 December 2009 3,900

At 31 December 2008 5,930

9. Debtors 2009 2008

€ €

Accrued Income 8,100 3,833

Prepayments 3,805 27,620

11,905 31,453

10. Creditors: amounts falling due within one year 2009 2008

€ €

Deferred Income 373,020 305,673

Trade creditors 7,174 6,713

PAYE and PRSI 11,500 13,321

Accruals 11,674 7,839

403,368 333,546




21

11. Funds of the charity

Balance at

31/12/08

Net incoming

resources for year

Balance at

31/12/09

Movement in funds € € €

Restricted funds - 26,428 26,428

Unrestricted funds 208,385 148,837 357,222

Total funds 208,385 175,265 383,650

12. Directors’ remuneration

No remuneration or fees were paid to any director during the year or in 2008.

13. Capital commitments and contingent liabilities

There were no Capital Commitments or Contingent Liabilities at the balance sheet date.

14. Post balance sheet events

There have been no significant events affecting the company since the year end.

15. Legal status

The company is limited by guarantee and not having a share capital. The liability of each member, in the event of the

company being wound up is €1.00.

16. Comparative figures for 2008

The comparative figures for incoming resources and resources expended in the statement of financial activities for 2008

have been adjusted to reflect an amount for donated services and facilities in that year. 17. Responsibility for information in this report

The information in this report is entirely the responsibility of Suas and does not represent or reflect its funders‟ or

supporters‟ policies.

18. Approval of Financial Statements

The Board of directors approved the financial statements on 31 May 2010.

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