THE HOMESTEAD (PROJECTS FOR STREET CHILDRDN)

REG NO : 003-217 NPO

ANNUAL FINANCIAL STATEMENTS

31 MARCH 2018

LOll .tvo SCHREIBERCHARTERED ACCOUNTANTS 6A)

THE IIOMESTEAD (PROJECTS FOR STREET CHILDREN)

REG. NO 3 003-217 NPO

ANNUAL FINANCIAL STATEMENTS

3l MARCH 2018

CONTENTS

Approval of Annual Financial Statements

Report ofthe Independent Auditors

A::nual Financial Statements

Report of the Board of Management

Balance Sheet

Income Statement

Staternent ofChanges in Equity

Notes to the Financial Statements

Cash Flow Stat€,ment

PAGE

1

)- I

il-16

17-18

8

9

l0

APPROVAL OF ANNUAL F'INANCIAL STATEMENTS

The Annual Financial Statements set out on pages 3 to 18 have been approved by tleManagernent Committee and are signed on its behalf by:

^/././olna 4r/erfa"zkz-d8-l-

LOW eno SCHREIBERCHARTERED ACCOUNTANTS (S A)

Telephone: (021) 685-4047

Telefax (021) 68s-4272

E-mail: info@lovandschreiber.co.za

VAT Reg No: 4410162735

William Wallace lnvt. B.Com

Anthon) Michoel Schrciber, B.Con

Barrie William Lov. B.Con M.Phil lTat Irilr)

INDEPENDENT AUDITORS' R.EPORT

To the Members ofthe Management Committee ofTh€ Homestead ( Projects for Street Children)

R€port on lh€ Financial StatementsWe have audited the Annuai Financial Statements ofThe Homestead (Projects for Sbeet Children), which comprise the balance

sheet as at 3l March 2018, and the income statement and cash flow statement for the year then ended and a summary ofsignificantaccounting policies and other explanatory notes and the Management Committee's Report, as set out on pages 3 to 18.

Board ofManag€ment's Responsibility for the Financial StatementsThe Board ofManagement is responsible for th€ preparation and fair presentation ofthese financial statements in accordance withaccounting policies as set out in Note I to the financial statements ard in the manner required by the Non-Profit Organisations Act

of 1997. This responsibility includes: designing, implementing and maintaining int€mal control rclevant to the preparation and fairpresentation offinancial statements that arc free from material misstatement, \'r'hether due to lraud or error; selecting and applying

appropriate accounting policies; aad making accounting estimates that are reasonable in the circumstances

Auditors' ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance

with Intemational Standards on Auditing. Those standards require that we comply with ethical rcquirements and plan ard perform

the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosu.es in the financial statements.

The procedures selected depend on the auditor's j udgement, including the ass€ssment ofthe sks ofmaterial misstatement ofthefinancial statements, whether due to fraud or efror. In making those sk assessments, the auditor considers internal conhol

relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are

appropdate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's intemal

control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting

estimates made by the Board ofManagement, as well as evaluating the overall presentation ofthe financial statements.

We believe that the audit evidence we have obtained is sulficient and appropriate to provide a basis for our audit opinion.

Completencss oflncom€In common with similar organisations, it is not feasible for the Organisation to institute accounting controls over cash collections

from fund raising prior to the initial entry ofcollections in thg accor.mting records. Accordingly, it was impractical fol us to extend

our examinations beyond receipts actually recorded.

OpinionIn our opinion, except for the effect ofthe mafter rcferred to in the preceding paragraph, the Annual Financial Statements present

fairly, in all material respects, the financial position ofthe Organisation as at 31 March 2018, and its financial performance and its

cash flows for the year then ended in accordance with the accouniing policies as set out in Note I to the financial statements and inthe manner required by the Non-Profit Organisations Act of 1997.

I5Lt,v 0,b,\ Irtr'LOW AND SCHREIBERREGTSTERED AUDITORS, CAPE TOWN20 SEPTEMBER 2OI8

LOW AND SCHREIBER -:-

I Klein Rustenburg

Cape Tov'n

7700 Rep ofSA

POSTAL ADDRESS:

PO BOX 187

RONDEBOSCH

CAPE TOWN

7701 REP OF SA

THE HOMESTEAD (PROJECTS FOR STREET CIIILDREN)

REPORT Otr' THE MANAGEMENT COMMITTEE

MANAGEMENT COMMITTEE'S RESPONSIBILITIESThe Mangement Committee is required by ttre Non-Profit Organisations Act of 1997 to maintainadequate accounting records and is responsible for the content and integrity of the AnnualFinancial Statements and related financial hformation included in this Report. It is itsresponsibility to ensure tlrat the Annual Financial Statements fairly present the state of affairs ofthe Society as at the end of the financial year and the results of its operations and cash flows forthe period then ended in conformity with the accounting policies as set out in Note I to thefinancial statements. The extemal auditors are engaged to exprcss an independent opinion on theAnnual Financial Statements.

The Annual Financial Statements are prepared in accordance with the accounting policies as setout in Note I to the financial statements and are consistently applied and supported by reasonableand prudent judgrnents and estimates.

The Managerrent Committee acknowledges that it is ultimately responsible for the system ofintemal financial contol established and places considerable importance on mfitaining a strongcontrol environment. To enable the Management Committee to meet these responsibilities, it setsstandards for intemal control aimed at reducing the risk of error or loss in a cost effective manner.The standards include the proper delegation of responsibilities within a clearly definedframework, effective accounting procedures and adequate segregation of duties to ensure anacceptable level of risk. These controls are monitored throughout the Organisation and allemployees are required to maintain the highest ethical standards in ensuring the Organisation'sbusiness is conducted in a manner that in all reasonable circumstances is above re,proach. Thefocus of risk management in the organisation is on identiffing, assessing, managing andmonitoring all known fonns of risk across the Organisation. While operating risk cannot be fullyeliminated, the organisation endeavours to minimise it by ensuring that appropriate infrastuctwe,controls, systems and ethical behaviour are applied and managed within predeterminedprocedures and constraints.

The Management Committee is of the opinion, based on the hfomration and explanations givenby management, that the syst€rn of intemal confol provides reasonable assurance that thefinancial records may be relied on for the preparation of the Armual Financial Statements.However, any system of intemal financial confol can provide only reasonable and not absoluteassurance against material misstatement or 1oss.

The Management Committee has reviewed the Organisation's cash flow forecast for the year to3l March 2019 and, in the light of this review and the cu:rent financial position, it is satis{ied thatthe Society has or has access to adequate resources to continue operational existence for theforeseeable future.

Although the Management Cornmittee is primarily responsible for the financial affairs of theOrganisation, it is supported by the Organisation's extemal auditors. The extemal auditorc areresponsible for indepe,ndently reviewing and reporting on the Organisation's Armual FinancialStatements. Their report is presented on Page 2.

-3-

THE HOMESTEAD (PROJECTS F'OR STREET CIIILDREN)

REPORT OF THE BOARD OF MANAGEMENT (Continued)

MAIN BUSINESS AND OPERATIONS

The Organisation is engaged in programmes for street and traumatised children and operatesprincipally in South Africa. The Financial Statements incorporate the following programmes:

1. The Homestead Child and Youth Care Centre I(hayelitsh4 a Therapeutic ResidentialProgramme for boys aged 6 to 16.

2. The Homestead Transitional Centre in Woodstock for youth preparing to leave care.3. Yizani Drop-in Centre for street children in Woodstock.4. Sfeet Outreach Prograrnme for children living, working and begging on the steet.5. Prevention and Early Intervention Programmes, including: Town Two Drop-in Centre,

Isikokhele School After Care Programme Site C, Manonberg Drop-in Centre and ValhallaPark Drop-in Centre.

6. A depot and operations centre in Stand Sfeet.

POST BALANCE SHEET EVENTS

The Management Committee is not aware of any matter or circumstance arising since the end ofthe financial year and the date of this Report that would sipifrcantly affect the operations of theEntity or the results of ttrose operations.

PROPERTY. PLANT AND EOUIPMENTAdditions during the year amounted to R496,670 (2017:R276,501)

MANAGEMENTCOMMITTEEV Mmgal - Singh (Chairpe$on)T Harvey (Vice - Chairperson)Z Abed (Treasurer)S HendryP Siebritz ( Secretary)S WilliamsK van AardtL Burger

MANAGEMENT STAFFP Hooper ( Director)N Dastile ( PEI Manager)L Mzarno ( Finance Manager)A Pieters ( Shelter Manager)A van Wyk ( Operatiors Manager)L Comadie ( Launch Pad Manager)

AUDITORSLow and Schreiber Chartered Accountants

THE IIOMESTEAD (PROJECTS FOR STREET CHILDREN)

REPORT OF THE BOARD OF MANAGEMENT (Continued)

DIRECTORS REPORTThe 201'7 /2018 financial year is best described as the year of education and leaming at tlleHomestead, both in terrns of focusing on getting children back into formal schooling, as well astraining staff towards professional qualification. It was also a sad year in that two Homesteadstalwarts, Annette cockbum (the Homestead director from 1987 to 2001) and Miernie snoek (inthe ernploy of the Homestead for over 30 years) sadly passed away. we did however celebrate 2Launchpad boys achieving gade 12, that Liezl Conradie, our Launchpad Unit Manager won thevery prestigious Westem Cape Social Worker of the year award (Shining star), and that we obtaina major 3 year grant from the MariaMarina Foundation. After much effort we also managed toobtain fulI regishation and compliance with the Departnent of Social Development, WestemCape, and helped over 150 sfeet children and over 300 chronically neglected communitychildren.

Strategic HighlightsThe stategic decision to stick to otr mission, focus on the best interests of the child, and to pushahead with the development and expansion of our services towards improved impact, legislativecompliance and the professionalization of staff has enabled the Homestead to weather recentSouth African NGO political, financial, donor and compliance storms and to emerge as a highlyfocused, modern and reenergized service provider. The key sfategic highlights of the last yearwere:c The training and professionalization of aaff. From having no qualified Child and youth

Care workers a few years ago, the Homestead now has all its Aux CYCCW registered withthe SACSSP with the majority now having completed their fomral qualifications.

c Retunting children to formal education: 68% of the shelter children are now back at school(with plans to increase this percentage fruther), 99% of the children of our PEI projects arealso back at school and we even managed to get 6 children, who live on the sfeet with theirparents, back into fomral schooling. It is important to note that getting a child back intoschool with the right psychosocial support is one thing, having thern stay and succeed atschool is another. We are happy to r€port that school attendance remains fairly consistentthroughout the school year and that more and more children are progressing to High Schooland even tertiary education.

o Increased invest nent in formal Prevention and Early Intemention Senices: We have beenable to continue to forrnalise and improve our PEI services by ernploying a Social AuxiliaryWork for each project, instead of relying on unqualified staff and assistants, and increasedschool attendance support and family preservation interventions. The Valhalla Park project iscurrently moving to new premises so that it can run 5 days a weelq and the Site C project ismoving to a new community cente so it can reach more children, at a deeper level and moreconsistently.

-5-

THE IIOMESTEAD (PROJECTS FOR STREET CrrrLDREr\)

REPORT OF THE BOARD OF MANAGEMENT (Continued)

Financial HighlightsThe Homestead remained financially stable:o New Auditors.' Low and Schreiber Chartered Accountants were appointed by the Homestead

Managernent Committee as the new Homestead auditors to ensure audit stability and an NGOfocused audit.

. Donors: The Homestead is grateful to ongoing and new donors who enabled us to meet ourbudget requirements.

o All resemes consolidated and moved a Nedbanh Private Weoltht This was to ensureconsistent and active management ofreserves and better and stable returns.

o Sponsorship fund. for Education purposes: This fund, set aside for education purposes,remains ring-fenced and stable, decreasing by only a third oftotal annual education expenses.

c Financial and budget Stability: The Homestead was able, in a very harsh financial andpolitical environment, to end the financial year right on budget, with only a small technicaldeficit and with a small reduction in reserves.

c Improvement to stalf remuneration equality: The Homestead increased staff remuneration inline with inllatioq as well as minimum salary scales for dornestic workers and Child andYouth Care workers so as to ensure food and fansport cost inllation is covered and that theHomestead can retain key staff.

Operational HighlightsOperationally the Homestead remained stable with no sigrificant changes to projects, facilifies orresources.. Projects remained stable and focused on high quality, high impact services: All projects

continued to run efficiently with ongoing improvements and refinements ensuring they run ator near firll capacity, that children retum to school and eventual to their families or successfulmove on to independent living away from street life.

. Water saving devices: We are very grateful to COPS, National l,otteries Commission and theDeparfrnent of Social Development for helping us to install a new borehole and water savingdevices in our residential facilities. This will help with the drought, ensure sustainability ofprojects and help to reduce utility costs.

. Efficiencies and savings: The Homestead continued to introduce savings by sourcing moredonations in kind, decreasing the number of times we do purchases, sourcing locally to reducetransport costs, reducing waste (for instance buying bulk bus tickets instead of the childrenusing cash), negotiating with teache$ to take children to school, keenly managing the use ofvehicles and replacing the petrol 10 seater bus with a 16 seater diesel bus. Maintenance costswere reduced by enclosing court yards and putting up fences so drains do not get blocked norfacilities damaged.

. Changes to Management Committee: We are grateful to Ms. Tshepo Modise Harvey, Ms.Zaitoon Abed and Dr Vash Mmgal Singh for their many years of service to the Homestead,we welcome Mr Lance Burger and Mr Kenny van Aardt onto the management committee andthank Mr Stuart Henry, Mr Phouzaan Siebritz (Chairman) and Mr Sammy Williams whoremain as Mancom members.

-6-

THE HOMESTEAD (PROJECTS FOR STREET CrrrLDRErg

REPORT OF TIIE BOARD OF MANAGEMENT (Continued)

Looking AheadThe Homestead is currently in the middle of an extensive strategic review process that will becompleted by the Homestead Management Cornmittee by early 2019. This will set the futurepath for tle Homestead and allow the Homestead Prevention and Early Intervention projects to bebolstered with more capacity, to replicate our servioes to other needy communities, to restuctureour Street Outreach Services and to improve administrative capaclty to deal with increasedlegislation iance requirements and to improve Monitoring and Evaluation systems so as tobefter refine impact.

to all our donors, funders,and staff whose generosity,

make it all

supporters, volunteers, paftrers, Managementhard work and e,rnpathy for the plight of the

Paul HooperDirector

THE IIOMESTEAD (PROJECTS FOR STREET CIIILDREN)

BALANCE SIIEET

At 3l March 2018

ASSETS

NON-CI]RRENT ASSETS

Property, Plant and EquipmentInvestments

CIJRRENT ASSETS

Trade and Other ReceivablesCash and Cash Equivalents

TOTAL ASSETS

EQUITY AND LIABILITIES

EQUITY

Reserves

Retained Surplus

NON-CURRENT LIABILITIES

Deferred Income

CIJRRENT LIABILITIES

Trade and Other Payables

Other Financial Liabilities

TOTAL EQUITY AND LIABILITIES

, F;;,;, l;;,,3 |

7,e06,0601 17,822,ss21

36J.251 395;755

Note 2018 201'7

RR

23,923,823 2t,864,694

22,931,585 23,012,958t-:l t;a122,e3r,585 | 123,001,202 |

895,059 1,022,770

_ [.t;l E;ls 13rr,734 11345,6411

24,287,074 24,260,449

, f-',-;;l @460.430 224.72r, [,;;;.1 a;d

' | -l l'5,0001

-8-

24,287,074 24,260,449

THE HOMESTEAD @ROJECTS

INCOME STATEMENT

For the year ended 3 I March 20 I 8

FOR STREET CHILDREI{)

Note

l0

ll

2018

R

68,s47

(27,0e8)

20t7R

90,068

(299,328)

REVENT]E

COST OF SALES

GROSS PROFTTi(LOSS)

OTHER INCOME

OPERATING EXPENSES

Administation and Utility Costs

Payroll Costs

Programme Costs

OPERATING LOSS

INVESTMENT INCOME

FAIR VALI,]E ADJUSTMENTS - INVESTMENTS

LOSS FOR TIIE YEAR

RETAINED SURPLUS at beginning of the year

RETAINED SURPLUS at endofthe vear 22,93r,s8s 23,00t,202

4t,449

9,267,959

(9,742,s79)

(209,260)

8,t51,796

(9,18s,37r)

t2

(433,r7r)

106,377

257,177

(r,242,835)

t72,4t2

198,11s

(69,617)

23,001,202

(872,308)

23,8',13,510

-9 -

THE HOMESTEAD (PROJECTS

STATEMENT OF CHANGES IN

For the year ended 3 I March 20 I 8

FOR STREET

EQTIITY

ProjectSurplus

R

74,918

(63,162)

CHILDREN)

RetainedSurplus

R

23,8',13,5t0

(872,308)

TotaI

R

23,948,428

(872,308)(63,162)

Balance at 1 April 2016

Net Loss for the year

NACCW

Balance at I April 2017

Net lnss for the year

NACCW

Balance at 3 I March 20 I 8

tt,756

(l1,756)

23,001,202

(69,6r',r)

23,012,958

(69,6t7)(11,756)

22,93t,s8s 22,931,585

-10-

THE HOMESTEAD (PROJECTS FOR STREET CHILDREN)

NOTES TO THE FINA}ICIAL STATEMENTS

3 1 March 201 8

I. BASIS OF PREPARATION AND ACCOIJNTING POLICIES

The Amual Financial Statements have been prepared in accordance with the entity'sconstitution and related policies and procedures. The Staternents have been prepared on thehistorical cost basis, except for the measurernent of Investnent Properties and certainInvestnents at fair value and incorporate the following principal accounting policies whichare corsistent with those applied in the previous year:-

1.1 Propertv. Plant and EquiomentThe cost ofan item of Property, Plant and Equipment is recognised as an asset when:

r it is probable that futue economic benefits associated with the item will flow tothe Society and

o the cost of the item can be measured reliably.Costs include costs incurred initially to acquire or construct an item of Property, Plantand Equipment and costs incurred subsequently to add to, replace part of, or service it. Ifa r€placement cost is recognised in the carrying amount ofan item of Properf, Plant andEquipment, the carrying amount ofthe replaced part is de-recognised.The initial estimate of the costs of dismantling and removing the item and restoring thesite on which it is located is also included in the cost of Property, Plant and Equipment.Property, Plant and Equipment is carried at cost less accumulated depreciation and anyimpaimrent losses.

ItemBuildingsComputer EquipmentLandFumiture and FixtruesMotor VehiclesLeasehold Property

1.2 Financial krstruments

Average Usefrrl Life50 - 100 yoars5 yearsIndefinite15 years6-7 years40 years

The Entity classifies financial instruments or their component parts on initial recognitionas a financial asset, a financial liability or ao equtty instrument in accordance with thesubstance of tle contactual arrangement. Financial assets and financial liabilities arerecognised on the Society's Balance Sheet when the Entity becomes party to thecontractual provisions of the insffument.Trade and Other ReceivablesTrade receivables af,e measured at initial recognition at fair value and are subsequentlymeasured at amortised cost using the effective interest rate method. Appropriateallowances for estimated irrecoverable amounts are recognis6d when there is objectiveevidence that the asset is impaired. The allowance recognised is measured as thedifference between the asset's carrying amount and the present value of estimated futurecash flolvs discounted at the effective interest mte comDuted at initial recomition.

- ll -

THE IIOMESTEAD (PROJECTS FOR STREET CIIILDREN)

NOTES TO TIIE FINANCIAL STATEMENTS (Continued)

31 March 2018

1. BASIS OF PREPARATION AND ACCOUNTING POLICIES (Continued)

1.2 Financialhrstuments (Continued)Trade and Other PavablesTrade payables are initially measured at fair value and are subsequently measured atamortised cost using the elfective intetest rate method.

1.3 Cash and Cash EouivalentsCash and cash equivalents comprise cash on hand and demand deposits and other shortterm highly liquid investments that are readily convertible to a known amount of cashand are subject to an insignificant risk of changes in value. These are initially andsubsequently recorded at fair value.

1.4 Govemment GrantsGrants are recognised when there is a reasonable assurance that the organisation willcomply with the conditions attaching to them and the grants will be received.

Grants are recognised as income over the periods necessary to match therr with therelated costs that they are intended to compensate,

A govemment grant that becomes receivable as compensation for expenses or lossesalready incurred or for t}le purpose of giving immediate financial support to the entitywith no future related costs is recognised as income of the period in whioh it becomesreceivable.

Govenxnent gfants related to assets, including non-monetary gants at fair value, arepresented in the Balance Sheet by setting up the grant as deferred income or bydeducting tle grant in arriving at the carrying amount ofthe asset.

Grants related to income are presented as a credit in the profit or loss (separately).

1.5 ProvisionsProvisions are recognised when:

r the Entity has a present obligation as a result ofa past event;. it is probable that an outflow of resources embodlng economic benefits will be

required to settle the obligation; ando a reliable estimate can be made of the obligation.

The amount ofa provision is the present value of the expenditure expectod to be requiredto settle the obligation.

TrrE HOMESTEAD (PROJECTS FOR STREET CHILDREN)

NOTES TO THE FINAI\CIAL STATEMENTS (Continued)

3 I March 2018

l. BASIS OF PREPARATION AND ACCOUNTING POLICIES (Continued)

1.6 RevenueRevenue from the sale of goods is recognized when all the following conditions havebeen satisfied:

o the entity has transfened to the buyer the sipificant risks and rewards ofownership of the goods

r the entity retains neither continuing managerial involvement to the degree usuallyassociated with ownership nor effective control over the goods sold

o the amount of revenue can be measured reliablyo it is probable that the economic benefits associated with the transaction will flow

to the Entity. the costs incurred or to be incurred in respect of the tansaction can be measured

reliablyService revenue is recognized on the accrual basis in accordance with the substance ofthe relevant agreements.

Revenue is measwed at the fair value of the consideration received or receivable andrepres€nts the amounts receivable for goods and services provided in the normal courseofbusiness, net oftrade discounts and volume rebates and value added tax.

Interest is recognized, in profit or loss, using the effective interest rate method.

Donations and revenue from fund raising are recopised on the accrual basis inaccordance with the substance of the relevant aseements.

2. FD(ED ASSETS 2018 20t7Accum Net Book Net Book

Cost Depr Value ValueRRRR

14,488,659 t,st2,t8r 12,976,478 13,266,251t92,763 156,743 36,020 42,965666,3t6 408,262 2s8,054 234,591

1,560,501 494,840 1,065,667 720,0872,417,624 736,080 t,681,544 r,778,248

t9,32s,869 3,308,106 16,017,763 t6,042,142

BuildingsComputer EquipmentFumiture and FixturesMotor VehiclesLeasehold Property

-13-

THE HOMESTEAD (PROJECTS FOR STREET CHILDREN)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

3l March 2018

2. FIXED ASSETS (Continued)

2017Net Book

ValueR

13,266,251

42,965234,s9r720,087

r,778,248

Additions/(Disposals)

R

)9 AAN

58,492409,738

DeprR

2018Net Book

ValueR

12,9',76,478

36,020258,054

1,065,6671,68r,s44

BuildingsComputer EquipmentFumiture and FixtuesMotor VehiclesLeasehold Property

(28e,773)(35,385)(35,029)(64,158)(96,7M)

16,042,142 496,670 (521,049) t6,017,76t

3. INVESTMENTS

Investec PortfolioInvestec Classic Investrent PlanOld Mutual Classic Investnent PlanNedbank Private WealthStanlib Investrnent PortfolioPrudential Money Market AccountKruger Rand

4. TRADE AND OTIIER RECEIVABLES

Trade ReceivablesVat

2018

R

486,500

895,059

788,4294,883,338

14,604

827,130I1,000

20t7R

2t7,6971,036,418

5,439,438

28,282r,089,7t7

11,000

7,906,060 7,822,ss2

The Investnents are reflected at fair value using unadjusted quoted prices as applicable.

2018R

2,80048,7r7

201'lR

6,13543,9'19

-14-

sr,5r7 50,114

THE HOMESTEAD (PROJECTS F'OR STRf,,ET CHTLDREN)

NOTES TO THE FINAI\CIAL STATEMENTS (Continued)

3 I March 2018

5. CASH AND CASH EQTIIVALENTS

Bank BalancesCash on HandNLDTF Bank Account

6. RETAINED STJRPLUS

Retained Surplus is represented by:

Property, Plant and EquipmentInvestrnentsCash and ReceivablesDeferred IncomeTrade and Other PayablesReserve

7. DEX'ERRED REVENUE

Sponsorship Income and Restricted Funds which have beenring-fenced for specifio purposes such as Education.

8. TRADE AND OTHER PAYABLES

Trade PayablesAccrued ExpensesAccrued Leave Pav

9. OTHER F'INANCIAL

Kate Dales

LIABILITIES

During the period this loan was converted to a donation.

3rt,'734 345,641

2018R

237,9958,328

65,411

2017R

34t,7243,9r7

16,0r't,'t637,906,060

363,251(89s,059)(460,430)

22,93t,585

89s,0s9 1,022,770

16,042,r427,822,552

10< 7{<(r,022,770)

(224,72r)(l r,756)

23,001,202

307,099153,331

(3)73,193

136,531

460,430 209,721

-15-

15,000

THE HOMESTEAD (PROJECTS FOR STREET CTTTLDREN)

NOTES TO THE FINANCIAL STATEMENTS (Continued)

3l March 2018

10. REVENIjE

Sale of Goods

11. OTHER INCOME

Departrnent of Social Development - Westem CapeEijkelboom, Charles, Rene and FriendsEdge CapitalDSF Childrens FundE R Tonnesen Will TrustGoldman Sachs

Leeman, Frederic JoseRed Het TalentMariaMarina FoundationMIA FilmsStichting Liberty/DioraphteThe Stella and Paul Loewestein TrustNational tntteries CommissionMoshal MartinOther

12. INVESTMENT INCOME

Interest Revenue - Bank Accounts and Invesftnents

2018R

2017R

5,211,58096,29790,00055,20073,000

103,035

tl,6't7

1,200,00075,000

476,000183,635

1,692,535

68,547 90.068

9,267,959 8,151,796

106,377 t't2.,412

13. TAXATION

The Entity has been approved as a Public Benefrt Organisation in terms of Section 30 of theIncome Tax Act. Receipts and accruals are therefore exempt from Income Tax in tenns ofSection 10 (l)(cN) ofthe Act and as a result no provision has been made for income taxation.

5,013,60185,410

115,00050,60077,000

188,923511,824127,'7 5I

528,240150,000

r,303,447

-16-

TIIE HOMESTEAD (PROJECTS

CASH FLOW STATEMENT

For the year ended 3 1 March 2018

CASII FLOWS FROM OPERATINGACTIVITIES

Cash generated / (utilised) by Operations

Interest Income

Net Cash flows from Operating Activities

CASII FLOWS FROM II\WESTINGACTIVITIES

Movement in Reserves - NACCWPurchase ofPlant and EquipmentMovement in Loans

Movement in Investnents

Net Cash flow from Investing Activities

NET CASH FLOW

CASH AND CASH EQUTVALENTSofthe year

CASH AND CASH EQTIIVALENTSof the year

FOR STREET CHILDREN)

Note

at beginning

at end

315,850 (493,494)

2018

R

209,473

t06,377

20r7R

(665,e06)

t't2,4r2

(l1,7s6)(496,670)

(15,000)

173,669

(63,162)(276,s0r)

15,000

989,237

(349,7s7) 664,574

(33,e07)

345,641

171,080

174,561

31t,734 345,641

-17-

THE IIOMESTEAD (PROJECTS FOR STREET CIIILDREN)

NOTES TO THE CASH FLOW STATEMENT

For the year ended 31 March 2018

2018 2017I. CASHGENERATED/(UTILISED) BY R R

OPERATIONS

Loss for the YearAdjustnent for:

Investnent IncomeDepreciationFair Value AdjustnentsLoss on Sale of Fixed Assets

Operating Profit before Working Capital Changes

Working Capital Changes

Change in InventoriesChange in Trade and Other ReceivablesChange in Trade and Other Payables

Change in Defened Revenue

Cash generated / (utilised) by Operations

(69,617) (872,308)

(106,377) (r72,4r2)52t,049 430,352

(2s7,r77) (198,1ls)- 52,042

87,878 (760,44r)

209,473 (665,906)

94,535[;I| (12,e56)

|

| (t38,ota

Itl

t2t,s95

t-lI (1,403) |

I zso,zoe I

| (r27,7lL) |

-18-