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FOR THE YEAR ENDED

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CONTENTS

1. CORPORATEDETAILS

2. CO-ORDINATORS' REPORT

3. AUDITORS'REPORT

4. BALANCESHEET

5. INCOME & EXPENDITUREACCOUNTS

6. STATEMENT OF ACCOUNTING POLICIES

7. NOTESTO THE FINANCIAL STATEMENTS

1

PAGES

1

2

3

4

5

6

7

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CORPORATE DETAILSTHE COMPANY NAME: PUBLIC AND PRIVATE DEVELOPMENT

CENTRE

INCOPORATION DATE: - 27THFEBRUARY, 2003REGISTRATION NUMBER: RC 473,940

TAX IDENTIFICATION NUMBER: - 01465750-0001

REGISTERED ADDRESS: - NO 10, Ojike Lane, Aba, Abia State,

Nigeria.

HEAD OFFICE: Asabove

2. AUDITORS:

STEPHEN YAKUBU AZIZI & Co.,

(CHARTERED ACCOUNTANTS)

House No.5, Ede Close, Off Kana Street

Opposite Shagari Mosque,

Area 1, Section2, Garki, Abuja,

3. BANKERS:

Access Bank Pic

Diamond Bank PLc

Guaranty Trust Bank PLC

4. SECRETARIES:

A & E Law Partnership(Solicitors, Advocates & corporate Consultants)

,'.

DIRECTORS REPORT TO THE MEMBERS OFPUBLIC AND PRIVATE DEVELOPMENT CENTRE

The Directors hereby submit their report to the members of the board together with theAudited Accounts for the year ended 31st December, 2015.

PRINCIPAL ACTIVITIESThe Organisation is a Non Governmental Organisation incorporated in Nigeria under the

Companies and Allied Matters Decree; 1990. Its main business is to operate a non -

profit, Non governmental and non - partisan centre to ensure good governance and

Support to democratic institutions, Citizenship right and duties educations, Public

accountability promotions, free public legal aids, eradication of corruptions and abuse of

office, education for all and public enlightenments and etc

THE BOARD MEMBERS

The following Board of trustees members served during the period ended 31st

December, 2015.

The board members are:

CHIBUZO C. EKWEKWUO BOARD CHAIRMAN

NYAGER SEEMBER CO-ORDINATOR/CEO BOARD MEMBER

MRS. FLORENCE MBOGU EXECUTIVE DIRECTOR

MRS. UCHENNA OKEREKE BOARD MEMBER

OBIORA CHUKWUMBA BOARD MEMBER

MALACHY CHIKWE BOARD MEMBER

No Board member notified the organisation of any interest in programming involvingthe organisation, during the year.

The list of Staff in the organisation as at 31st December, 2015.

SAMUEL UMEJIAKU PROGRAMME ADMINISTRATOR/HOMEVIDA

CHUKWUNYERE OKECHUKWU SENIOR PROGRAMME OFFICER/ ACCOUNTOFFICER

NWANYIEZE UBANI PROGRAMME OFFICER )

OFFICE ASSISTANCEOSU UDUM

NKEMDILIM ILO PROCUREMENT MONITORING CO-ORDINATOR

GIFT OMOIDEDIA PROGRAMME OFFICER

HELEN ABAWULO ADMIN IACCOUNTANT

OWNERSHIPThe Organisation is Established and run by Nigerians

OPERATING RESULTThe operating results of the Company for the year ended 31st December, 2015 are set

out on page 5 of the Accounts.

HUMAN RESOURCESIn accordance with the existing corporate policy, the Company, without discrimination,

assembles and retains qualified and competent professional team of specialists and

staff for relevant operating assignments. Similarly, the Company employs highly

experienced and skilled personnel for efficient administrative and support services.

AUDITORSThe Auditors, MESSRS, S. Y. AZIZI & CO., (Chartered Accountants) have indicated

their willingness to continue in office in accordance with Section 357 (27) of the

Companies and Allied Matters Decree, 1990.

BY ORDER OF THE BOARD

................•.•.......••...••••...••••• ..)

DATE

STEPHE YAKUBU ZIZI & 0.,(CHARTERED ACCOUNTANTS)

House No.5, Ede Close,Off Kano Street,Opposite Shagari Mosque,Area 1, section 2, Garki, FCT - Abuja.

Tel: 080-51160684080-36144106070-84092034

E-mail: mondaypeter75@yahoo.comSyazizi75@yahoo.com

REPORT OF THE AUDITORS TO THE MEMBERS OFPUBLIC AND PRIVATE DEVELOPMENT CENTRE

We have audited the financial statements set out on pages 4 - 5 and the accompanyingnotes on pages 7 - 8, which have been prepared on the basis of the Accounting Policieson page 6.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORSThe Organisation's Directors are responsible for the preparation of the FinancialStatements. It is our responsibility to form an independent opinion, based on our audit,on those statements and to report our findings to you.

BASIS OF OPINION.We conducted our audit in accordance with the generally accepted Auditing Standards.An audit includes examinations, on a test basis, of evidence relevant to the amountsand disclosures in the Financial Statements, and of whether the Accounting Policies areappropriate to the organisation's circumstances, consistentlv applied and adequatelydisclosed.

OPINION.In our opinion and according to the information and explanations given to us, thefinancial statements give a true and fair view of the state of affairs of the organisationas at 31st December, 2015 and of the income and expenditure for the year ended onthat date and have been prepared in accordance with the provisions of the Companiesand Allied Matters Act, 1990 and all relevant Statements of Accounting Standards.

- • ~ '#

S-. Y. AZIZI & CO.(CHARTERED ACCOUNTANTS),ABUJA -.,NIGERIA.

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PUBLIC AND PRIVATE DEVEWPMENT CENTREBALANCE SHEET AS AT 31ST DECEMBER, 2015

2015 2015 2014 2014NOTES N N N N

FIXED ASSETS 2 2,200,946 913,739

CURRENT ASSETS:Debtors 3

Directors Current AccountsCash At Bank 5 6,641,003.48 2971269

Amount Due Within One Yr 6,641,003 2,971,269--.....r

LESS CURRENT LIABILITIES:Creditors 6 11,060,929 4,716,940

AccrualsAmount Due Within One Yr 11,060,929 4,716,940

Net Current Assets -4,419,925 ·1,745,671

NET ASSETS ·2,218,979 ·831,932

FINANCED BY:

Accumulated project Funds for all previous years 51,605,496 30,470,647

Reserved Fund/Drawings 4 ·53,824,475

·2,218,979

·31,302,578

Accumulated Fund -831,932

1&1~~'"···The Notes form an integral part of these Accounts,

,..:

PUBLIC AND PRIVATE DEVELOPMENT CENTREINCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR

ENDED 31ST DECEMBER, 2015

NOTES

PROJECT FUND I GRANTS

Less Operating~HonorariumContributions ToCordinator Salary

Other Staff Salaries

ProgrammeShort Films Production I RegistrationsProgramme Expenses I HOMEVIDA EventTraining & Seminars for Young Script WritersEditing, Hardware, DVD and PlaquePrinting & StationeryWinners Of Films Cash Award

.Prsparatlons and Production Dissemination of Media PackageInternet Services, DSTV SubScription, TV, Phone & CommunicationsRent PaidAdvertAir ticket, Courer services,Transport, TravellingBusiness MeetingsGeneral ExpensesDocumentary Production and PromotionSupport to Investigation Reportingl Public InterestOGP Preparations and Production of Draft RegulationsOGP Network CordinationDevelopmentn Of Media Strategy PlanProcurements Implementation Performance SurveyExpert I Strategic MeetingUtility I MaintenanceFuel, Car RepairsSafer Internet Day (SID)Script WinnersStaff TrainingConsultancy FeesActivities Towards Films Selectionsl Films FestivalsBank Charges and CommissionClassiification of Security InformationContractualSupport To Procurement MonitoringDepreciations

Total OperatingExpenses

Yet to be Spent Project Fund

2015N

2015N

93,118,187

12,564,375

7,745,1052,677,0001,900,000

1,335,921

2,354,3003,580,5001,490,3002,857,880

84,000

356,000

2,512,000

3,425,600

1,045,560147,750935,820

1,300,000739,700

1,678,300657,732

1,584,0002,230,25118,489,451

291,793

71,983,338

21,134,849

ACCUMULATED FUND ACCOUNT FOR THE YEAR ENDED 31ST DECEMBERThis Represent balances of project Fund for previous years 2015

NBalance Per Previous Year Account of project fund 30,470,647

Yet to be Spent Fund

Project Fund C/F to Balance Sheet

The Notes form an integral part of these Accounts,

21,134,849

51,605,496

2014N

2014N

60,183,513

9,468,493

1,720,4752,984,825

360,0001,483,650500,000

1,292,000

990,0002,623,6503,532,460

23,500108,000

10,911,6001,732,500646,000

1,155,000

57,800

263,400

258,400

52,512

679,24014,859,616227,393

55,930,514

4,252,999

2014N

26,217,647

4,252,999

30,470,647

..:..

PUBLIC AND PRIVATE DEVELOPMENT CENTRE

ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER, 2015NOTES TO THE ACCOUNTS

THE COMPANY AND ITS ACCOUNTING POLICIES

PUBLIC AND PRIVATE DEVELOPMENT CENTRE was incorporated in Nigeriaunder the Companies and Allied Matters Decree 1990. Its main business is to

operate a non - profit, Non governmental and non - partisan centre to ensure good

governance and Support to democratic institutions, Citizenship right and duties

educations, Public accountability promotions, free public legal aids, eradication of

corruptions and abuse of office, education for all and public enlightenments and etc

ACCOUNTING POLICIES

The following summarises the significant accounting policies applied by the

Company in arriving at the accompanying Accounts:

(a) Basis of Accounting

The Accounts have been prepared under the historical cost convention.

No adjustment has been made in respect to inflation and rising prices.

(b) INCOME RECOGNITION

1) Non - Credit related fee income is recognise at the time the service or

transaction takes place

2) Credit related fee income is deferred and amortized over the useful life of

the related credit proportionately

c) TOTAL INCOME

Total income is derived from grants and subventions from some

organisations and internally generated revenue as follows:

d) CURRENT ASSETS:

These Include Cash and short -'term Funds, Preliminary expenses, Debtors

and prepayments

e) C~NT LIABILITIES

These include outstanding professional fees, utility bills.and other amount

due to third parties '. '

~

DEPRECIATION

Tangible assets other than land are depreciated over their estimated usefuleconomic life at rate based on actual cost or revalued amount lessestimated residual values.The rates applied are based on:Motor Vehic1eOffice EquipmentsFurniture & Fittings

20%10%10%

PUBLIC AND PRIVATE DEVEWPMENT CENTREACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER, 2015

NOTES TO THE ACCOUNTS

1. FIXEO ASSETS

COSTI Motor Office Furniture And Plants & TotalVALUATION Vehicles Equipment Fittings Machinery

N N N N NAt 01101/2015 1,000,000 1,626,814 482,112 165,000 3,273,926

Addition in the Year 935,000 544,000 100,000 1,579,000

At 31/1212015 1,935,000 2,170,814 582,112 165,000 4,852,926--

OEPRECIATION:

At 01/0112015 999,999 815,788 412,400 132,000 2,360,187

Charge for the year 217,081 58,211 16,500 291,793

At 3111212015 999,999 1,032,869 470,611 148,500 2,651,980

NET BOOK VALUE

At 3111212015 ~ 1,137,945- 111,501- 16,500- 2,200,946-At 31/1212014 811,026- 69,712.......... 33,000 913,739-

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PUBLIC AND PRIVATE DEVELOPMENT CENTREACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER, 2015

NOTES TO THE ACCOUNTS2015 2014

N N3. DEBTORS & OTHERS;Sundry DebtorsPrepayments

4. RESERVED FUND;Bank BalanceCash Balance

6,641,003 2,971,269

6,641,003 2,971,269

5. BANK AND CASH BALANCESAccess Bank PlC Nc Number 0016819412(Dollar balance as at 31st Dec, 2015 = 111.46 @ 197)Access Bank PlC Nc Number 0016630998( HOME Vida Naira)Diamond Bank PlC 00028514047 (CSF Naira)Diamond Bank PlC 0025215161 (IDF Naira)

6. CREDITORS & OTHERS;Home Vida Debt owed the Director

22,069.08 8,286

697,369.51 42,357.25932

5,913

12,7693,521,810

16,5512,370,434.75 2,913,781.00

6,641,003.48 2,971,269.5-11,060,929 4,716,940

(Dollar balance as at 31st Dec, 2015 = 64.49@ 197)Eco Bank Pic Nc Number 3563000482Access Bank PlC Nc Number 0060230487Guaranty Trust Bank (0023027937) Osiwa Naira

7. ACCUMULATED FUND;Project Funds ( OSIWA 1The Projects Funds Accounts were made up balancesbrought forward for Previous years of all projects embarkupon by the NGO. These balances were later utilised duringthe projects in the preceeding years

8. FOREIGN FUNDS;OSIWA

51,605,496 30,470,647

were converted at the rate Currently Ruling at the Central Bank Of Nigeria.

:

ACCOUNOTE TO THE ACCOUNTS

2015 2014PRINTING & STATIONERY ti tiPrinting 1,335,921 1,483,650Stationery r

1,335,921 ~650

ADMINISTRATIVE EXPENSESImprest " ~ 320000RENTCurrent rent 1,900,000 990,000Contribution OSIWA 1,188,000Contribution ACCESS Nigeria ...49.2.,5ll.Cl

3,580,500 990,000--PROGRAMME EXPENSES/EVENTSPayments on procurement Monitoring Irep 14,859,616Development of phone, templateExpert strategic meeting 57,800Editing, Hard drive, DVD, and Plaque 360,000Gift, hampers 14,500

Business meeting - 23,500Accomodation, Home Vida Events 2,662,500 2,984,825Winners of Films 500000

2,677,000 18,785,741

,..~

PUBLIC AND PRIVATE DEVELOPMENT CENTREACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2015

NOTES TO THE ACCOUNTS

GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The organisation did not charge any of its assets to secure liabilities of third

parties. The coordinators are of the opinion that all known liabilities and

commitments have been taken care of in the preparation of these financial

statements for the year under review.

CONTINGENT LIABILITIES

The organisation was free from all encumbrances as there was no matter

brought to our notice, which has not been disclosed in these Accounts.

POST BALANCE SHEET EVENTS

There was nothing, which could have had material effect on the financial

statements of the organisation as at 31st December, 2015 and t.he profit for

the year ended on that date which has not been adequately provided in the

accounts under review.

APPROVAL OF ACCOUNTS

The Board Members of the Organisations approved these accounts on 18th

February, 2016.

)