Registration number:
The Connected Development Project
for the Year Ended 31 March 2022
The Connected Development Project
(Registration number: 11876096)
Contents
Company Information |
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Director's Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Connected Development Project
(Registration number: 11876096)
Company Information
Director |
Mr W Harnden |
Registered office |
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Accountants |
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The Connected Development Project
(Registration number: 11876096)
Director's Report for the Year Ended 31 March 2022
The director presents his report and the financial statements for the year ended 31 March 2022.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is facilitating international development cooperation.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The Connected Development Project
(Registration number: 11876096)
Director's Report for the Year Ended 31 March 2022
Objectives
At Connected Development, our objective is to contribute towards "localisation" within the international development sector. We aim to facilitate equal and sustainable international partnerships by working with both NGOs and Grantmakers. By working alongside grassroots development agencies for the long term, we can encourage local actors to take the lead in community development initiatives.
Our working model generates interactions between people and the exchange of resources between organisations: as an agency by introducing local NGOs and Grantmakers to each other, as a network by sharing local and practical knowledge between these development actors, and as a platform by publishing stories behind community led international development with the wider public.
Through these different functions, Connected Development aims to demonstrate a more innovative, dynamic, and cost-effective way of conducting international development cooperation.
Review of Activities and Achievements
This year we have increased activities by adding new members and completing field trips to Cali, Colombia, and the Kagera Region of Northern Tanzania.
Connected Developent now has 8 NGO members within its network, across 3 continents:
- Kick Start Art, Thailand/Myanmar
- Teacher Focus, Thailand/Myanmar
- Minmahaw School, Thailand/Myanmar
- Centre for Education Development Action and Research, India
- Development Support Initiative (DSI), Tanzania
- Fundación Educación para Todos, Colombia
- Tatirano Social Enterprise, Madagascar
- Centro Foinsa'e Dom Boaventura Maun-Fahe, Timor-Leste
In partnership with these organisations we have helped them to raise vital funding for their charitable work, with notable successes for Minmahaw School, the Development Support Initiative, Teacher Focus and Tatirano social enterprise.
Next year we plan to strengthen our working model with these 8 NGO members, add a maximum of two more members, travel to meet partners in the field, and increase our donor networking work. We also plan to launch our visual storytelling work, starting with a field trip to India.
Approved and authorised by the
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The Connected Development Project
(Registration number: 11876096)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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The Connected Development Project
(Registration number: 11876096)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The company was formerly known as Equal and Opposite.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Other grants
The Connected Development Project
(Registration number: 11876096)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
Over 3 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
The Connected Development Project
(Registration number: 11876096)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Creditors |
2022 |
2021 |
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Due within one year |
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Other creditors |
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Accrued expenses |
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The Connected Development Project
(Registration number: 11876096)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Related party transactions |
Transactions with the director |
2021 |
At 1 April 2020 |
Advances to directors |
Repayments by director |
At 31 March 2021 |
Interest free loan to director |
- |
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- |
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2022 |
At 1 April 2021 |
Advances to directors |
At 31 March 2022 |
Interest free loan to director |
116 |
- |
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