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تسابا
حق ال
ي لتدقيول
ب الدكت
مال
In
ter
na
tion
al A
ud
iting
Offic
e
Human Rights and Democracy Media Center SHAMS
Non Profit Association
Ramallah – Palestine
Independent Auditors Report
and Financial Statements
for the year ended December 31, 6102
International Auditing Office
Certified Public Accountants
تسابا
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ي لتدقيول
ب الدكت
مال
In
ter
na
tion
al A
ud
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Offic
e
1
Human Rights and Democracy Media Center "SHAMS"
Non Profit Association
Ramallah - Palestine
CONTENTS
PAGE 2 Independent Auditors Report
3 Statement of Financial Position as of Dec. 31 , 2016 - Exhibit "A"
4 Statement of Activities for the year ended Dec. 31, 2016- Exhibit "B"
5 Statement of Changes in Net Assets for the year ended Dec. 31, 2016 – Exhibit "C"
6 Statement of Cash flows for the year ended Dec. 31, 2016– Exhibit "D"
7-11 Notes to the financial statements No. (9)
لحسابات لدولي لتدقيق ا International Auditing Office المكتب ا Certified Public Accountants محاسبون قانونيون
CPA/ Rohi . M .Kanan CPA /ACPA /ASCA/ PACPAالمحاسب القانوني روحي مفلح كنعان Member of PACPA عضو جمعية المحاسبين القانونيين الفلسطينية
Ramallah / Tel : 02-2971766 2 22 - 2971766 : تلفاكس / رام هللا
وطنية+ : E-Mails : [email protected] 376628 969 972 + 972 999 376628: جوال
Independent Auditors Report
To: Human Rights and Democracy Media Center (SHAMS) Non Profit Association
Ramallah – Palestine We have audited the financial statements of Human Rights and Democracy Media Center, Non
Profit Association, which comprise the statement of financial position as of December 31, 2216 and
the statement of activities and cash flow statement for the year then ended ,and summary of
significant accounting polices and other explanatory notes.
Managements responsibility for financial statements:
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with International Financial Reporting Standards. This responsibility includes designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of
financial statements that are free from 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 opinion on these financial statements based on our audit ; except
as explained in the following paragraph, we conducted our audit in accordance with international
Standards on Auditing . Those standards require that we comply with ethical financial statements are
free from material misstatement.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion.
Auditor opinion;
In our opinion , the financial statements give a true and fair view of financial position of the Human
Rights and Democracy Media Center , Non Profit Association, as at December 31,2216 and of its
financial performance and its cash flows for the year then ended, in conformity with International
financial Reporting Standards.
International Auditing Office
CPA/ Rohi . M .Kanan
License No. 105/1998
CPA /ACPA /ASCA/ PACPA
Ramallah – October
07th, 2017
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Human Rights and Democracy Media Center "SHAMS"
Non Profit Association
Ramallah – Palestine EXHIBIT (A)
Statement of Financial Position as of Dec. 31 , 2016 Note 2 0 1 6 2 0 1 5
Assets USD USD Current assets
Cash & cash equivalents 3 873882 1993976 Pledges receivable 9 1213999 293221
Other accounts receivable 91 __ Total current assets 093,931 099,333
Fixed Assets At cost 873989 873989 Accumulated depreciation (863972 ) (823961 ) Net Book Value 9 0,123 8,339 Total assets 081,886 099,331 Liabilities & net assets
Current liabilities
Accrued expenses & other payable __ 932
Total current liabilities __ 891
Long term liabilities End of service indemnity 133362 173862 Total long term liabilities 09,921 03,921 Total liabilities 09,921 03,981 Net assets Unrestricted net assets–exhibit (C) (877729 ) (29,198 ) Temporarily restricted net assets–exhibit (C) 1993826 222,233 Total net assets 060,196 030,091
Total liabilities & net assets
081,886 099,331
Attached notes constitute an integral part of this statement
Chairman Treasurer Member
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Human Rights and Democracy Media Center "SHAMS"
" Non Profit Association"
Ramallah - Palestine EXHIBIT (B)
Statement of Activities for the year ended Dec. 31st, 2016
Attached notes constitute an integral part of this statement
Chairman Treasurer Member
2016 2015
USD USD
Revenues
Unrestricted
Temporarily
restricted
Total
Total Revenue realized-Note (6) __ 2293761 2293761 2893928 Other revenues 792 __ 792 173931 Total 311 668,320 661,100 616,998 Converter from restricted revenues 2693798 (2693798 ) _ ـــــــــــــ
Total Revenues 622,839 (81,396 ) 661,100 616,998
Expenditures :
Project expenses-Note (7) 2693798 __ 2693798 1223639 Administrative expenses-Note (3) 13386 __ 13386 33213 Depreciation -Note (9) 83911 __ 83911 93981
Currency differences 83979 __ 83979 13232
Total expenditures 631,128 __ 631,128 (091,809 ) Adjustments to agreements - Note (6) __ __ __ __
Change in net assets during of year –exhibit (C)
(9,130 )
(81,396 )
(83,119 )
002,322
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Human Rights and Democracy Media Center
"SHAMS"
" Non Profit Association"
Ramallah - Palestine EXHIBIT (C)
Statement of change in net assets for the year ended Dec. 31, 2016
Attached notes constitute an integral part of this statement
Chairman Treasurer Member
6102 USD
December 31, 2012
Unrestricted
Net Assets
Temporarily
restricted
Net Assets
Total
Net assets in 1/1/2016 (293198 ) 2223233 1713189 Excess (shortage) of revenues over (under)-Note( B ) (33971 ) (923932 ) (993998 )
Net assets at 31/12/2012 (93,368 ) 013,912 060,196
6101
USD
December 31, 2011
Unrestricted
Net Assets
Temporarily
restricted
Net Assets
Total
Net assets in 1/1/2015 (283369 ) 73,289 99,169 Excess (shortage) of revenues over (under)Note – ( B ) (93233 ) 1223299 1163966
Net assets at 31/12/2011 (63,019 ) 611,699 030,091
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Human Rights and Democracy Media Center "SHAMS"
" Non Profit Association"
Ramallah – Palestine EXHIBIT (D)
Statement of Cash flows for the year ended Dec. 31st, 2216
Attached notes constitute an integral part of this statement
Chairman Treasurer Member
6102 6101
USD USD
Cash flow from operating activities :
Change in net assets – exhibit “B” (993998 ) 1163966
Adjustment to reconcile change in net assets to cash flow from
operating activities
Items don’t require cash flows :
Depreciations 83911 93981
End of service provision 13922 13922
Change in current assets & current liabilities
Pledges receivable (723978 ) 33189 Other accounts receivable (91 ) __ Accrued expenses & other payable (932 ) (93732 ) Net cash flow (used in) from operating activities (003,282 ) 062,616
Net change for cash & cash equivalents (1173696 ) 1263292
Cash & cash equivalents - beginning of year 1993976 233729 Cash & cash equivalents at ending for the year 93,991 018,332
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Human Rights and Democracy Media Center "SHAMS"
" Non Profit Association"
Ramallah – Palestine
Notes of the Financial Statements
1. Registered Association's & Objectives:
The Human Rights and Democracy Media Center (SHAMS) is an independent Palestinian
non-governmental, nonprofit organization established in 2229 in Ramallah by a group of
academics, teachers and human rights activists. SHAMS work on promoting equity among all
human beings regardless to age, gender, race, religion or political affiliation, and focuses on
the notion of connection between civil, political, economic, social and cultural rights and we
are convinced that such a notion is essential in shaping debate on democracy and human
rights. 2. Significant accounting policies :
a. Basis of preparation:
The financial statements have been prepared under the historical cost convention. Revenues
and expenses were recognized when incurred based on the accrual basis of account.
Net assets of SHAMS and changes therein are classified as follows:
- Unrestricted net assets – Net assets used by SHAMS is not subject to donor-imposed
restrictions.
- Temporarily restricted net assets – Net assets which used by SHAMS is limited by donor-
imposed stipulations, which could be removed either by passage of time or can be fulfilled and
released by actions of SHAMS pursuant to those donor-imposed- stipulations.
- Receivables – represents amounts due from funding organizations for expenses incurred
through during the year.
b. Revenues recognition:
Revenues are reported as increases in unrestricted net assets unless their use is limited by
donor-imposed restrictions. Expenses reported as decrease in unrestricted net assets. Gains
and losses on disposition of fixed assets are reported as increase or decrease in unrestricted
net assets unless they use is restricted by donors. When donor restrictions expires, that is,
when a stipulated time restriction ends or the purpose restriction is accomplished,
temporarily restricted net assets are reclassified as unrestricted net assets and reported as net
assets released from restrictions.
c. Cash and Cash Equivalent
In preparing of cash flow statement, cash in hand, cash in banks and short time deposit, are
treated as cash and cash equivalent.
d. Foreign currencies translations:
Transactions denominated in currencies other than U.S.D ($), occurring during the year,
are translated to U.S.D ($) using the exchange rate at the date of the transaction. Monetary
assets and liabilities, which are denominated in foreign currencies are each translated into
U.S.D ($) using the rate of exchange at the balance sheet date. Gains or losses arising from
exchange differences are reflected in consolidated income statement.
e. Fixed assets:
Fixed assets are recorded at cost. Depreciation is calculated by using the straight-line
method over the estimated useful lives of the assets at the following estimated annual
rates:15%.
f. Income tax:
Human Rights and Democracy Media Center (SHAMS), is a non-profit organization and it is
exempted from income tax.
g. Provision for end-of service indemnity:
Provision for end-of service indemnity is calculated to cover contractual and legal
commitments of the employee’s services in accordance with the labor law in Palestine.
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3. Cash and cash at banks:
4. Pledges Receivable:
6102 6101
Grants Amount
New
Agreements
Adjustments To
agreements
Currency difference
Received
Pledges
Receivable
Pledges
Receivable
USD USD USD USD USD USD USD
NED 9622 29722 __ __ ( 17080 ) 17222 9622
UNDP 29921 89336 __ (12 ) 69299 ) ) __ 29921
EED __ 86788 __ __ (22279 ) 19693 __
Geneva centre __ 98192 __ __ __ 98192 __
FNF __ 89932 __ __ (17619 ) 16966 __
French
consulate __ 82712 __ __ (82712 ) __ __
ب
Total 63160 668320 __ (06 ) (010332 ) 010338 63160
6102 Currency 6101 Currency
USD Equivalent USD Equivalent
Petty cash – USD 92 42 Arab Bank #185121/511 – USD 2 26 Arab Bank #185121/510 – USD 2 996 Arab Bank #185121/570 – NIS 181 928 192 996
Arab Bank #185121/513 – USD 83 62
Arab Bank #185121/515 – USD __ (999 )
Arab Bank #185121/518 – USD 729 723
Arab Bank #185121/516 – USD 13167 13192
Arab Bank #185121/520 – USD 13 92
Arab Bank #185121/523 – USD 126 192
Arab Bank #185121/530 – EUR 93 98 127 119
Bank of Palestinian #224926 / 001 - USD 223262 163919
Bank of Palestinian #224926 / 003 - USD 23176 (13282 )
Bank of Palestinian #224926 / 000 - USD (113223 ) 813763
Bank of Palestinian #224926 / 000 - NIS 193629 963299 791 83299 Bank of Palestinian #224926 / 000 - JOD 819 228 881 289
Bank of Palestinian #224926 / 001 - EUR 93929 93291 1293232 993962
Bank of Palestinian #224926 / 002 - EUR 991 928 (93399 ) (93899 )
Bank of Palestinian #224926 / 002 - USD 23769 __ Total 93,991 018,332
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5. Fixed Assets US$ :
Cost At January 1,
6102
Additions /
Disposals
At December 31,
6102
Furniture 23197 23197 ـــــــــــــ
Office equipment 293922 293922 ـــــــــــــ
Computers 93932 93932 ـــــــــــــ
Total 93,193 __ 93,193
Depreciation Furniture (996 ) (829 ) (13272 ) Office equipment (263671 ) (23729 ) (293922 )
Computers (93999 ) (393 ) (93322 )
Total (96,120 ) (9,300 ) (92,836 )
Net Book Value 8,339 0,123
6. Temporarily restricted net assets :
6102 6101
Grants Amount
New
Agreements
Released grants
Adjustments
to agreements
Unexpended
grants
Unexpended
grants
USD USD USD USD USD USD NED 21999 29722 )26892 ( __ 29329 21999
Italian Office 19181 __ __ __ 19181 19181 UNDP 98292 89336 )66221( __ 26929 98292
Australian 2997 __ __ __ 2997 2997 Amman 9997 __ __ __ 9997 9997
Spain 129829 __ )122169( __ 9189 129829
EED __ 86788 )16117( __ 22616 __
Geneva Centre __ 98192 )81332( __ 21263 __
FNF __ 89932 )29963( __ 9612 __
French consulate __ 82712 __ __ 82712 __
Total 611699 668320 (621389 ) __ 013912 611699
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.9 Administrative expenses:
3. General : Figures have been rounded phenomenon in the financial statements and accompanying notes to the
nearest integer.
6102 6101
USD USD
End of services indemnity 1922 23922
Transportation __ 862
Stationary __ 122
Communications __ 636
Maintenance __ 193
Bank charges 886 321
Translation __ 13692
Volunteer works __ 922
coordinator __ 722
Inter Net __ 192
Facilities __ 122
Lecturer fees __ 222
Training fees __ 62
Water __ 22
heating __ 17
Newspapers __ 196
Total 0,992 9,109