July 2015 - June 2016 Financial Statement:                                        Statement of Financial Position:

                                                   June 2016                                                                        June 2016

                                                   GHS                                                                                GHS

Income                                         315.356                                      Non-current assets         1,449,802

                                                                                                     Current assets:  

Operating activities                       (152,513)                                     - Bank & Cash                  970,830

                                                                                                     

Movement in Working Capital         (176,549)           

                                                                                                     Total Assets:                   2,420,632

Cash flows from investing act.                 95

Cash & Cash Equivalent EOY       935,905                                    Equity and Liabilities

                                                                                                      Capital reserve:

Retained Earnings                                                                            - Accumulated Funds      1.245,849

                                                                                                      - Revaluation Surplus     1,172,132

Balance at 1 July 2016                  381,784                                       - Trade & other payables       2,651

Profilt for the period                       591,999

                                                                                                      Total shareholders funds

For the period ended 30/06/2016     973,783                                       and liabilities                 2,420,632

 

Donations Overseas for July 2015 till June 2016:    GHS 315.356

Expenditure for July 2015 till June 2016:                GHS 519,926

 

Budget School year July 2017 till June 2018:

Total expenses for the school year:    GHS 318,980

Salaries & Allowances: GHS 186,470

Utility expenses         : GHS  17,940

School expenses       :  GHS  58,150 (including school meals, 2 x a day)

School consumables   : GHS  22,000

Medical Expenses       : GHS    8,400

Miscellaneous            :  GHS   26,020 (including SHS Fees for selected ex HIPS Charity Students)

# of Students: 255

# of Staff: 23

Special Note: All Board Members donate their time and expenses for free. The are no Board expenses paid by this charity.

Special word of thanks goes to Mr. Felix Nana Sackey and the staff from Deloitte & Touche (Ghana) for their assistance and the donation of our annual accountants report.

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ANNUAL BUDGET

Every year it gets to be more difficult to acquire the necessary donations in order to fulfill our annual budget. Difficult times in Ghana but also in Europe make it harder to convince individuals and companies to support our charity school.
From January 2012 HIPS decided to run the annual accounting of our school consecutive with the school year.

Deloitte & Touche have annalysed out annual accounts for the first time for this period of one and a half year.

Mission / Vision Founder HIPS Development Staff Board Members Annual Budget