audit report and financial statement year ended …

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PKF Accountants & Business advisers

ASSOCIATION WELFARE & ECOCONSCIENCE TV

AUDIT REPORT AND FINANCIAL STATEMENT

YEAR ENDED 30 JUNE 2020

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ANNUAL REPORTS AND FINANCIAL STATEMENTS AS AT 30 JUNE 2020

CONTENTS Organization information ---------------------------------------------------------------------------3

Background information-----------------------------------------------------------------------------4

Statement of the management responsibilities--------------------------------------------------5

Independent Auditor’s Report----------------------------------------------------------------------6-7

Financial Statements as of 30 June 2020----------------------------------------------------------8-10

- Balance Sheet as at 30 June 2020--------------------------------------------------------8

- Statement of Income and Expenditure for the year ended 30 June 2020----------9

- Cash Flow statement for the year ended 30 June 2020------------------------------10

Notes to the financial statements as at 30th June 2020--------------------------------------- 11-12

PKF Accountants & business advisers

ASSOCIATION WELFARE & ECOCONCSIENCE TV

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1. ORGANIZATION INFORMATION

PRINCIPLE PLACE OF BUSINESS: AVEDZI LIMOSINE PREFECTURE

GOLFE, BP 80002 LOME TOGO Email: [email protected] WWW: https://twelfare.wordpress.com Accueil | EcoConscience TV BANKERS: ECOBANK Rte de Kpalime, Agoe

Asieye BP 3302 EXTERNAL AUDITORS: PKF Accountants & business advisers,

304 Boulevard du 13 Janvier Mob: +22890762201

[email protected] www.pkf-fwa.com



mailto:[email protected]

https://twelfare.wordpress.com/

https://www.ecoconscience.tv/

mailto:[email protected]

http://www.pkf-fwa.com/

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2. BACKGROUND INFORMATION

The association was established informally by female students at Lome University in 2009. By then the main objective was to protect and promote the rights of female students including access to education loans, transport, welfare facilities, gender equality and job attachment. They also fought against sexual harassment and gender based violence against. By 2013 the majority of the female students had graduated and decide d to continue with the activities of their informal association. In, June 2014 they succeeded in registering their association.

In 2018 The Association established a WEB TV at www.ecoconscience.net as its subsidiary media company.

Main activities for the past 3 years

1. A campaign against gender based violence known as BREAK THE

SILENCE 2. A campaign against forced marriages, early pregnancies and denial of

access to education through the traditional festivals in the Kabye communities.

3. A campaign against sexual harassment and exploitation of female journalists in the media industry.

4. A project for identification of children’s toys containing toxic substances in Togo

5. Production of video documentaries and hosting at https://www.ecoconscience.tv/



http://www.ecoconscience.net/

https://www.ecoconscience.tv/

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3. STATEMENT OF MANAGEMENT RESPONSIBILITIES

In fulfilling our mandate The President and the Director (the 2 positions now held by one person) and the Head of Finance in collaboration with PKF have prepared this financial report and statements for submission to the 2020 General Assembly. We confirm that the preparation took into account the national and international accounting guidelines and principles. We also would like to take this opportunity to confirm that nothing has come to our attention to indicate that our organizations will face financial difficulties in the next 3 years, which is the period between this 2020 assembly and the next general assembly scheduled to take place in 2023.

Nothing has come to the attention of the President (currently also the Director of Ecoconscience TV indicating that the organization is facing a serious financial challenge in the next 3 years from the date of this statement.

As the President of the Association and current Director of the TV I accept full responsibility for this report and its statements.

Finally I would like to congratulate all members of staff and members of the national finance committee for their contributions.

I submit, Ms Djatougbe AZIAKA PRESIDENT



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4. INDEPENDENT AUDITOR’S REPORT TO THE GENERAL ASSEMBLY OF

ASSOCIATION WELFARE

Ladies and Gentlemen,

We have audited the accompanying financial statements of the ASSOCIATION WELFARE and its subsidiary Ecoconscience TV. operations which comprise the balance sheet as at 30 June 2020 , statement of income and expenditure and the cash flow statement for the year then ended and summary of significant accounting policies and other explanatory notes. Management responsibility on the financial statement The management is responsible for the preparation and fair presentation or the financial statements in accordance with the organization’s accounting policies. This responsibility includes, designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free of material misstatement, whether due to fraud or error selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditors' responsibility Our responsibility is to express an independent opinion on these statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (ISA). Those Standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain evidence about the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall presentation of the financial statements.

We believe that our audit provides a reasonable basis for our audit opinion.

Audit findings We do not have any significant audit finding to report for the year 2020.



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Auditors' Opinion

In our opinion, proper books of account have been kept and the financial statements which are in agreement therewith, give a true and fair view of the state of affairs of ASSOCIATION WELFARE and its subsidiary Ecoconscience TV operations as at 30 June 2020 and of the surplus and cash flows for the year in accordance with the ASSOCIATION WELFARE accounting policies of the year ending on 30 June 2020. However, we advise management to keep independent and separate accounting records for ASSOCIATION WELFARE and its subsidiary since the ASSOCIATION is a non for profit organization while the subsidiary is a registered media business company. The two organizations fall under two different legislations it is therefore logical to separate their accounts.

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BALANCE SHEET AS AT 30 JUNE 2020

30.06.2020 30.06.2019 Note CFA CFA ASSETS Advances and accounts receivable 3 40,033,303 32,963,453 Cash and bank balances 4 1,433,514 971,400 Funds receivable from donors 5 18,000,000 11,000,000 Total assets 59,466,817 44,934,853

ACCUMULATED FUND AND LIABILITIES

30.06.2020 30.06.2019 Note CFA CFA

General Fund 2 6,669,046 9,980,928 Staff gratuity 6 8,265,000 6,650,000 Accrued Expenses 6 11,564,012 8,756,230 Head Office current account 32,955,159 19,547,695 Funds due to donors 7 13600 0 Total accumulated fund & Liabilities 59,466,817 44,934,853

These financial statements were approved and signed on behalf of the management on

2nd May 2020 Date Djatougbe AZIAKA President



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STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 JUNE 2020

30.06.2020 30.06.2019 Notes CFA CFA INCOME Membership fees 3 19,632,000 20,859,000 Other income (TV sales) 12,560,000 8,652,000 General Fund 2 5,447,000 5,851,100 Project Grants 8 15,400,000 10,645,540 Total income 53,039,000 46,007,640 EXPENDITURE Conferences & Travel 9 20,697,545 17,217,711 Office utilities & maintenance 765,409 550,985 Administration expenses 10 4,857,000 4,834,436 Staff emoluments 4,654,000 2,540,000 Publications 765,600 453,890 Furniture & Equip 1,230,900 889,000 Bank charges 987,000 765,470 Project expenditure 8 15,400,000 10,645,540 Total expenditure 49,357,454 37,897,032 Surplus of the year 3,681,546 8,110,608



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CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2020

30.06.2020 30.06.2019

CFA CFA

Surplus for the year 3,681,546 8,110,608

Fixed assets - -

Advances & Accounts receivable (9,500,000) (780,000)

Funds receivable from donors (6,505,500) (3,575,630)

Provisions and accruals 7,000,000 (4,900,770)

Funds held on behalf of donors (2,600) (0)

Head office current account 22,000 (58000)

Cash & bank equivalents during the year (30,700,000) (34,600,000)

Cash and equivalents at the beginning of the year 37,500,507 41,300,000

Cash and bank equivalent at the end of the year 6,800,507 6,700,000



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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR 30 JUNE 2020

Note 1. SIGNIFICANT ACCOUNTING POLICIES

1.1. Funds account

1.2. Fixed asset

1.3. Foreign currency transactions

30.06.2020 30.06.2019

Note 2 GENERAL FUND CFA CFA

Opening balance beginning of the year 2,987,500 1,870,320

Add Surplus of the year 3,681,546 8,110,608

Balance at the end of the year 6,669,046 9,980,928

30.06.2020 30.06.2019

Note 3. ADVANCES AND ACCOUNTS RECEIVABLE

CFA CFA

Staff Solidarity Fund 3,800,000 3,800,000

Mission advance 8,950, 643 4,650,453

Deposit 7,650,660 3,654,000

Affiliation fees receivable (80% of 4090 members paid

6000 CFA as annual fee)

19,632,000 20,859,000 (85% of 4090 members

paid 6000 CFA as annual fee)

40,033,303 32,963,453

30.06.2020 30.06.2019

Note 4. CASH AND BANK BALANCE CFA CFA

Cash in hand 90,750 80900

Cash at Bank 1,342,764 890,500

1,433,514 971400

30.06.2020

30.06.2019

Note 5 FUNDS RECEIVABLE FROM DONORS CFA CFA

Signature Tree Project – China Green Foundation 3,000,000 0

Signature Tree Project – Future Forest South Korea 1,000,000 1,000,000

IPEN – Plastic Toys and Chemicals Survey 3,000,000 0

PCFS – Food Security Project 3,000,000 3,000,000

FAO – Film documentaries (3 films) 5,000,000 5,000,000

Embassy of France – Film documentaries (11 films) 3,000,000 2,000,000

18,000,000 11,000,000

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30.06.2020 30.06.2019

Note 6 STAFF GRATUITY & OTHER ACCRUED EXPENSES CFA CFA

Provision of staff gratuity 8,265,000 6,650,000

Other accrued expenses 11,564,012 8,756,230

19,829,012 15,406,230

30.06.2020 30.06.2019

Note 7 FUNDS DUE TO DONORS CFA CFA

China Green Foundation 10600 0

Future Forest South Korea 3000 0

IPEN 0 0

PCFS 0 0

FAO 0 0

Embassy of France 0 0

13,600 0

Note 8. PROJECTS GRANTS

Project expenditures refer to costs of activities for several projects using project grants from partners. A total of CFA

15,400,000 was spent on these activities in 2020.

30.06.2020 20.06.2019

Note 9 CONFERENCES & TRAVEL CFA CFA

Finance Committee 2,120,987 1,457,890

Women Committee 2,100,980 1,765,300

Staff meetings 432,098 348,971

Staff Travel - domestic 2,587,160 1,659,003

Staff Travel – international e.g. UNFCCC COPs, SAICM 13,456,320 11,986,547

20,697,545 17,217,711

30.06.2020 20.06.2019

Note 10 ADMINISTRATIVE EXPENSES

CFA CFA

Maintenance & Repairs 234,000 175,650

Stationeries and supplies 250,000 257,000

Telephone, Internet 750,000 645,056

Security 600,000 600,000

Audit fees 1,800,000 1,800,000

Staff training 1,200,000 1,200,000

Difference in exchange 230000 156730

4,885,700 4,834,436

audit report and financial statement year ended …

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