2012 ANNUAL REPORT - Amazon Web Services… · · 2017-03-14Page 3 2012 ANNUAL REPORT 2012 was a...

2012 ANNUAL REPORT

www.palmera.org

Palmera is a 100% volunteer based not for profit organisation made up of social innovators and established professionals. We believe in challenging how we make a difference so we are effective in our goal to end poverty.

WHO ARE WE?

2012 ANNUAL REPORT

2012 ANNUAL REPORT

Inside this report:

Who we are? 2

What we do? 2

sage 3

Statement of compliance 4

2012 projects 5

Audited f inancial report 7

Contacts 17

WHAT WE DO? We create sustainable livelihoods and social ventures in Sri Lanka and Cambodia.

Local model we work with six strategic partners in Sri-Lanka and one strategic partner in Cambodia to deliver our projects. We believe that our local model enables Palmera to partner with organisations who have a deep on the ground expertise and knowledge. Palmera is then focus on our strengths of identifying and create appropriate sustainable livelihood ventures through needs assessment and community involvement.

Innovative and robust approach we allow donors to identify projects through our website and donate directly to those pro-jects.

Empower entrepreneurs we have funded many different types of social business projects such as animal rearing, pea-nut farms, a rice mill and other agribusiness to set up sus-tainable livelihoods for many disadvantaged people in Sri -Lankan and Cambodia.

Sustainable funding we have four diverse methods of fund-ing: ongoing giving, high net giving, grants and events. This enables Palmera to maintain sustainable funding streams.

Financial and operational efficiency we ensure a high level of efficiency through the use of external parties such as our auditors, CharterNet, our lawyers, Allen & Overy, as well as the expertise of our team who have many years of experience in their roles at Palmera.

2012 ANNUAL REPORT

2012 was a transformational year for Palmera.

Palmera experienced many highlights in 2012 including:

Achieved Deductible Gift Recipient Status, which allows all funds for development activities to be tax deductible, Completed our first cooperative venture, which provided employment to over 15 women and sup-ported over 50 farming families through the establishment of a rice mill, and amongst other things A successful Christmas campaign, which allowed over 150 families to earn a livelihood from pea-nut farming after being released from the refugee camps.

I had the fortune of going to Sri lanka twice this year, both in April and in September. During this time, I visited all our partners and our projects and was able to see our vision in practice. Palmera is dedicat-ed to empowering local entrepreneurs who are committed to earning an income and changing their lives. Palmera, through our local partners, creates pathways for these beneficiaries to achieve just that.

Our local partners are local heroes to many of our beneficiaries because of their commitment and their tireless efforts in the local villages. Through the trip, we were welcomed with sweet masala tea and sugary desserts at every house we visited. These visits allowed me to understand the current challeng-es that many of these families face, having recently resettled from refugee camps and dealing with the end of a 35 year civil war. Unfortunately these areas are facing new social challenges, including mental health issues and child abuse.

Palmera continues to work tirelessly on the ground, with our local partners to ensure that these social challenges are curtailed, that vulnerable members of the community are supported and that innovative livelihoods and social businesses flourish.

A lot has been done since the end of the civil war in 2009, but there is still a lot more work to do.

We thank you for being on the journey with us as we work towards transforming these war stricken are-as, and as we continue our work, we thank you for your support and compassion in 2013.

Kind Regards,

ACFID Compliance

ernance, management and accountability for non-government organisations. Palmera is committed to full adherence to the ACFID Code of Conduct and the Code complaints handling process. Palmera has a process for handling any complaints regarding our compliance with the ACFID Code of Conduct. You can make a complaint by emailing Pradhi-ma Jeyaratnam at [email protected] or our general email address, [email protected]. You can also call us directly on +61 434 684 264.

Complaints regarding an alleged breach of the Code of Conduct can also be made directly to the ACFID Code of Con-

quirements set out in the Code of Conduct. For further information on the Code please refer to the ACFID Code of Conduct Implementation Guidance Document available at www.acfid.asn.au. Full financial reports are available from page 8 of this annual report.

2012 ANNUAL REPORT

Statement of ACFID Compliance

Sustainable agribusiness for families

2012 ANNUAL REPORT

Funds raised: $11,600 Local partner: LEADS

tural training, equipment and infrastructure for 40 families to begin farming in the village of Iththavil in Kilinochhi District. The produce will be sold locally to provide income to allow these families to start rebuilding their lives.

Palmera worked with local organizations to assist the community to clear the land and set up irrigation so the land is ready for farming. The main water source, the agricultural well, has been reconstructed to provide a reliable water source. In addition to assisting with tools and infrastructure for farm-ing, local organizations will work with the community to develop strategies to

potential markets for sale.

The local community undertook the construction involved in the project and the maintenance associated with farming. This was structured like this to provide ownership and avoid the need for reliance on aid in the future.

The land is now suitable for farming and the agricultural well is repaired, The 40 families can earn a regular income. The grains also provide a good food source for the families. In time, these families and the community can begin to rebuild their lives after the devastation of the war.

Rice Mill livelihood Funds raised: $27,430 (part funded in 2011) Local partner: OFFER

establishment of a rice mill business, a business fund and provided required capacity building for the women entrepreneurs. The project includes the pur-chase of equipment, construction of a facility and training to establish a rice mill that will provide milling service. Income from the rice mill business will be used to support expansion of the business. In addition, profits from the rice mill will be pooled in a business fund and used to make loans to other women to support new businesses. The rice mill will be managed by the women in the local community. To sup-port the local area, rice milling will be provided at a subsidized cost to local farmers, these farmers can increase their profits.

This social business replicates a similar model implemented by OfERR, our on the ground partner, in war torn regions of east Sri Lanka.

2012 Projects

Funds raised: $4,876 Local partner: BOLO (Brightness of Life Organisation)

As a result of the civil war in Sri Lanka, many women who resided in Ko-rakankattu (a village in the Kilinochichi District), had most of their property and personal effects destroyed. A favoured activity in this region has been poultry. The project ran for six months, and included: Facilitating group seminars with agricultural experts once every three months around effective poultry rearing techniques and health management;; Provision of 30 two and half months old chickens for each widow;; Provision of support material (medicine and farming support tools);; and ongoing liaison with a project coordinator, who visited each widow once a month over the six months duration to review progress and support them with issues they encounter.

Widows Poultry Farming

Clean water for school children

2012 ANNUAL REPORT

Funds raised: $5,050 Local partner: LEADS

cus, Palmera has undertaken the reconstruction of a well at a local school in Malayalapuram, Killinochchi.

Around 100 students, some as young as 5, attending the school have had no access to safe drinking water, resulting in chronic illness and hampering the

The reconstruction provides the children with a safe source of drinking water so they can attend school and effectively engage in education.

Peanut Farm Funds raised: $8,250 Local partner: CFCD (The Centre for Child Development)

Palmera provided urgent livelihood assistance to 150 families who have re-cently been resettled after the closure of the Menik farm IDP camp to Mullitu-vu. Escaping the war in 2009, these families have lost almost all their pos-sessions and have endured two and a half years of hardship. They are unable to return to their original homes and are therefore starting from scratch.

The project provided immediate relief to 150 families by enabling farming of peanuts and cowpeas for an income;; a regular income will also assist these families to gain confidence, become self-sufficient and slowly develop an economy for this new community;; access to food, shelter and clean water.

Your Directors submit the financial report of Palmera Projects for the financial year ended 31 Decem-ber 2012.

The names of Directors throughout the year and at the date of this report are:

Directors have been in office since the start of the financial year to the date of this report unless other-wise stated.

The principal activities of Palmera Projects is to deliver sustainable projects in the areas of healthcare, education and income generation to marginalised communities.

The entity incurred a net deficit of ($18,074). Signed in accordance with a resolution of the Board of Directors:

Dated this 9th day of May, 2013

2012 ANNUAL REPORT

Financial statements for the year ended 31 December 2012

2012 ANNUAL REPORT

Statement of Comprehensive income for the year ended 31 December 2012


Note 2012

$

2011

$ Income

Events 2 9,850 25,415

Grant income 2 - 7,139

Donations 23,967 5,157

Sale of merchandise - 1,323

Interest income 222 250

Other - 43

33,039 39,327

Expenditure

Project disbursements 3 47,311 30,184

Event expenses 50 4,762

Audit fees - (1,500)

Bank charges 972 564

Website maintenance 2,608 2,001

Other 171 -

51,113 36,011

Net Surplus / (deficit) for the year (18,074) 3,316

Statement of financial position as at 31 December 2012

Note 2012

$

2011

$

ASSETS

CURRENT ASSETS

Cash and cash equivalents 4 86,175 101,736 Trade and other receivables 550 -

TOTAL CURRENT ASSETS 86,725 101,736

NON CURRENT ASSETS

TOTAL NON CURRENT ASSETS - -

TOTAL ASSETS 86,725 101,736

LIABILITIES

CURRENT LIABILITIES

Trade and other payables (2,608) (1,733)

TOTAL CURRENT LIABILITIES (2,608) (1,733)

TOTAL LIABILITIES (2,608) (1,733)

NET ASSETS 84,117 100,003

EQUITY

Retained earnings 84,117 100,003

TOTAL EQUITY 84,117 100,003

2012 ANNUAL REPORT


2012 ANNUAL REPORT


The directors have prepared the financial statements on the basis that the entity is a non reporting entity because there are no users dependent on general purpose financial reports. This financial report is therefore a special purpose financial report that has been prepared in order to meet the needs of members. The financial report has been prepared in accordance with the significant accounting policies dis-closed below which the committee have determined are appropriate to meet the needs of members. Such accounting policies are consistent with the previous period unless stated otherwise.

Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities in the statement of financial position.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised: Donations, gifts and events income is recognised at the earlier of receipt or notification that the monies have been secured. Interest revenue is recognised as it accrues taking into account the interest rates applicable on the financial asset. Income on loans is recognised in accordance with the terms of the relevant agree-ment. Grant income is recognised at fair value where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with.

At the end of each reporting period, the entity reviews the carrying amounts of its tangible and intan-gible assets to determine whether there is any indication that those assets have been impaired. If

ture statement.

Note 1 Summary of Significant Accounting Policies

2012 ANNUAL REPORT


Note 2 Income

Grant income

KPMG Grant - 2,000

Government Grants - 4,800

Other - 300

Total Grant Income - 7,100

Events income

Peoples Poker - 10,582

Dine It Forward 1,600 14,833

Peanut Farm Campaign 8,250 -

Ad hoc events - -

Total Events Income 9,850 25,415

Note 3 Project Disbursements

Cambodian Projects - -

Sri Lankan Projects 47,311 30,184

Australian Projects - -

47,311 30,184

Note 4 Cash and Cash Equivalents

Westpac Cheque Account 82,659 89,706

Westpac Brisbane Branch 3,466 12,030

Westpac Savings Accounts 50 -

86,175 101,736

2012 ANNUAL REPORT


Note 6 Information and declarations to be furnished under the Charitable Fundraising Act 1991

2012 2011

$ $ Gross proceeds from fundraising activities:

Peoples Poker - 10,582

Dine It Forward 1,600 14,833

Peanut Farm Campaign 8,250 - Donations 23,967 5,157 Total 32,817 30,572 Less total direct cost of fundraising activities:

Peoples Poker event expenses - 535

Dine It Forward - 3,507 Ematters 50 - Total 50 4,042 ________ ________ Net surplus from fundraising events 32,767 26,530

Note 5 Events After the Balance Sheet Date

2012 ANNUAL REPORT


Note 6 Information and declarations to be furnished under the Charitable Fundraising Act 1991 (continued)

2012 ANNUAL REPORT


The directors have determined that the entity is not a reporting company and that this special purpose finan-cial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.

In the opinion of the committee the financial report as set out on pages 1 to 6: 1. Presents a true and fair view of the financial position of Palmera Projects as at 31 December 2012 and

its performance for the year ended on that;; and 2. At the date of this statement, there are reasonable grounds to believe that Palmera Projects will be able

to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the directors and is signed for and on behalf of the directors by:

Dated this 9th day of May, 2013.

2012 ANNUAL REPORT


General enquiries:

[email protected]

Abarna Raj [email protected] +61 410 523 342

Finance:

Pradhima Jeyaratnam [email protected] +61 434 684 264

Donations:

Sharangan Kangatharan [email protected] +61 413 277 449

Events:

Shaminie Chandra [email protected] m +61 422 836 445

Contacts

mailto:[email protected]





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