One of HEAL’s main objectives is to be able to meet our commitment to the children in the Heal Children's Village and other projects looking after them until they are in a position to support themselves.
This means that we have an obligation to generate sufficient reserves to meet the funding requirements needed to sustain our projects and look after the welfare of the children. Our aim is to hold a minimum of four years running costs in reserve to cover this and safeguard the future of our projects and the children in our care.
The annual expenditure for the upkeep of our projects is in excess of £100,000, but as the number of children rises, and their needs grow, the related expenditure required to maintain our projects and meet their increased needs also grows. We need to continue actively raising further funds to be in a position to meet our obligations.
In addition to expenditure of our main projects the Heal Children's Village, Heal is also helping to meet the funding costs of several other schools through our Poverty Trap project.
We are in the process of building and developing a new residential school and village – Paradise – to cater for 1,000 orphaned and destitute children and the whole project will eventually require funding in the region of £4.75million. The land has been purchased and work is on-going in the construction of the village and school, which will open its doors to the first intake of children towards the end of 2013. Construction of the buildings is taking place on a phased basis in line with our ability to raise the necessary funding.
These accounts show the very small amount of administrative expenses that are incurred by us as we have no offices or paid staff. This supports our promise not to waste funds, so that the maximum benefit is provided for the children.
FINANCIAL DOCUMENTS & CERTIFICATES