SAO SARY FOUNDATION (SSF)

FINANCIAL STATEMENTS

FOR THE PERIOD 01 SEPTEMBER 2008 TO

31 AUGUST 2009
SAO SARY FOUNDATION (SSF)

FINANCIAL STATEMENTS
FOR THE PERIOD 01 SEPTEMBER 2008 TO 31 AUGUST 2009

CONTENTS Page

Statement by management 1

Auditors’ report 2

Balance sheet 3

Statement of income, expenditure and fund balance 4

Note to Statement of income, expenditure and fund balance 5-6

STATEMENT BY MANAGEMENT
OF SAO SARY FOUNDATION (SSF)

It is the responsibility of the management to prepare the financial statements for each financial year
which gives a true and fair view of the state of affairs of Sao Sary Foundation (SSF) as at the end of
the year and the income and expenses for that period. In preparing these financial statements, the
management is required to:

- Select suitable accounting policies and then apply them consistently; and
- Make judgments and estimates that are reasonable and prudent.

The management is responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the organization. They have general responsibility for
taking such steps as are reasonably open to them to safeguard the assets of the Organization and to
prevent and detect fraud and other irregularities.

On behalf of Management

____________________________________
Vichetr Uon
Executive Director
Date: 13 October 2009

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SAO SARY FOUNDATION (SSF)

BALANCE SHEET
AS AT 31 AUGUST 2009

2009
Notes USD

ASSETS

Current assets
Cash on hand 1,202
Cash in bank 1,930
Other current assets 1,368
4,500

LIABILITIES
Current liabilities
Other payables 3 4,117
4,117

NET ASSETS 383

FINANCED BY:

Beginning balance 500

Excess of income over expenditure (118)

FUND BALANCE, END 383

The accompanying notes on pages 5 to 6 form part of these financial statements.

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SAO SARY FOUNDATION (SSF)

STATEMENT OF INCOME, EXPENSES AND FUND BALANCE

FOR THE PERIOD 01 SEPTEMBER 2008 TO 31 AUGUST 2009

Riverkids Groundwork Global Private Paypal and CSFE

Foundation Opportunities Colors donors other donors donors Total
RECEIPTS USD USD USD USD USD USD USD

Grants and donations 11,630 6,300 3,500 1,905 868 1,268 25,471
11,630 6,300 3,500 1,905 868 1,268 25,471

DISBURSEMENTS
Back-to-School 10,184 1,064 14 383 - - 11,645
Cerebral Palsy 1,388 - 70 - - - 1,458
Cottage Industry - 58 479 51 - - 588
Emergency Needs 318 561 360 314 - - 1,552
Handicraft Produce - - 200 10 - - 210
Micro-Credit 200 150 880 - - - 1,230
Operations and Administration 1,686 993 1,467 630 - - 4,776
Water and Sanitation - 1,855 30 35 - - 1,920
Social Welfare 1,653 10 - 481 - 65 2,209
15,428 4,690 3,500 1,905 - 65 25,588

Excess of income over expenses (3,798) 1,610 - - 868 1,202 (118)

Fund balance, beginning - - - - 500 - 500

Fund balance, end (3,798) 1,610 - - 1,368 1,202 383

The accompanying notes on pages 5 to 6 form part of these financial statements.

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SAO SARY FOUNDATION (SSF)

NOTES TO STATEMENT OF INCOME, EXPENSES AND FUND BALANCE

FOR THE PERIOD 01 SEPTEMBER 2008 TO 31 AUGUST 2009

1. Background Information

Sao Sary Foundation (SSF) (“the Organisation”) was registered in Cambodia as a Local Non-
Government Organization (NGO) under the Ministry of Interior in 2007. It is governed by the
Board Directors whose members do not receive any compensation.

The Organisation aims to improve the quality of life for families living in extreme destitution in
Cambodia, develop educational support programs for children who run a high risk for being
trafficked and helps these children by protecting them from all forms of violence, exploitation and
abuse including: commercial sexual exploitation, trafficking, child labor and child marriage.

SSF works to achieve its mission by financially supporting two different programs, Child
Protection and Livelihood programs. Child Protection Program primarily focuses on providing
target beneficiaries with clothing, books, fees, and other expenses that the child family could not
provide. There are five projects under Child Protection Program namely: Health, Education, Social
Welfare, Shelter and Income Generation Projects. Livelihood Program works to strengthen the
economic stability of families so that they can provide for their children. The program educates
families about different methods they employ to become financially independent.

The registered office of the Organization is No.181, Group 5, Peanicha Kam Village, Rocha Thom
Commune, Chbar Morn District, Kampong Speu Province, Kingdom of Cambodia.

2. Summary of Significant Accounting Policies

Basis of Preparation

The financial statements, expressed in U.S. dollars, are prepared under the historical cost
convention.

The financial statements are not intended to present the financial position and result of operations
of the Organisation in accordance with accounting principles and practices generally accepted in
countries and jurisdictions other than Cambodia. The accounting principles and practices in
Cambodia may differ from those generally accepted in countries and jurisdiction other than
Cambodia.

Capital Expenditures

Capital expenditures are charged to expense when incurred. This practice differs from International
Accounting Standards which require the capitalization and depreciation of property and equipment

Income Recognition

Revenue is recognized in the income and expenditure statement as follows:

(i) Grant is recognized when received.

(ii) Interest income from deposit in bank is recognized when received.

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SAO SARY FOUNDATION (SSF)

NOTES TO STATEMENT OF INCOME, EXPENSES AND FUND BALANCE

FOR THE PERIOD 01 SEPTEMBER 2008 TO 31 AUGUST 2009

2. Summary of Significant Accounting Policies (Cont’d)

Foreign Currency Transactions

Transactions in currencies other than in US$ are converted into US$ at the rate of exchange
prevailing on the date of transaction.

3. Other payables

This represents amount payable to Mr. Oun Vichetr Mr. Vichetr provided the temporary funding
needed to support the projects’ operation.