Centre for Research, Documentation and Publication
Independent Auditor’s Report and Financial Statements for the year ended December 31, 2014
1
Centre for Research, Documentation and Publication
Contents
PageIndependent Auditor’s Report / 1-2
Balance Sheet as at 31 December 2014 / 3
Income Statement for the year ended 31 December 2014 / 4
Introduction, Basis of preparation of FS, Significant accounting policies / 5-7
Financial statements according to projects / 8-16
Notes to the Financial Statements / 16
Conclusion / 17
1
Centre for Research, Documentation and Publication
INDEPENDENT AUDITOR’S REPORT
To: Management of the Centre for Research, Documentation and Publication
Introduction
We have audited the accompanying financial statements ofCentre for Research ,Documentation and Publication, which comprise of the Statement of financial position at 31 December 2014, and the Statement of comprehensive income, Statement of changes in equity and Statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes.
Management’s responsibility for financial statements
The management is responsible for the preparation and fair presentation of these financial statements in accordance with the Kosovo Accounting 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.
Auditor’s responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and 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 disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion the financial statements present fairly, in all material aspects, the financial position of theCentre for Research, Documentation and Publication as of December 31st, 2014, and the results of its operations, changes in equity and cash flows for the year ended on December 31st, 2014 in accordance with International Financial Reporting Standards.
Xhemail Syla
Statutory Auditor
“Syle Hotla”#1
Pristine
Republic of Kosovo
Phone: ++377 44 156 921
Central Fax: +381 38 551 790
Prishtinë,
Date08.06.2015
Balance Sheet
For the year ended 31 December 2014
(In Euro, unless otherwise stated)
31 / 31December / December
2014 / 2013
ASSETS
Property, plant and equipment / 2,640.00 / 2,640
Total non-current assets / 2,640.00 / 2640
Current assets
Accounts receivable / - / -
Prepayments
Cash and cash equivalents / 18,375.90 / 10,259
Total current assets / 18,375.90 / 10,259
Total assets / 21,015.90 / 12,899
LIABILITIES
Non-current liabilities / - / -
Accounts payable / - / 5,433
Deferred Incomes and accrued Expenses / 21,015.90 / 7,465
Total current liabilities / 21,015.90 / 12,899
Total liabilities / 21,015.90 / 12,899
Total liabilities and reserves / 21,015.90 / 12,899
Authorized for issue by management
______
Finance Manager Director
Income Statement
For the year ended 31 December 2014
(In Euro, unless otherwise stated)
31 / 31December / December
Incomes / 2014 / 2013
Grant Income / 88,982 / 85,784
Other Income / 0.00 / 4,416
Total income / 88,982 / 90,200
Expenses
Personnel Expenses / 44,893 / 58,618
Operative– administrative expenses / 25,713 / 30,117
Total Expenses / 70,606 / 88,734
Depreciations / 0.00 / 1,466
Total Expenses with Depreciations / 70,606 / 90,200
Excess of the income over expenses / 18,376 / -
INTRODUCTION
Company background
The full name of association is: Centre for Research, Documentation and Publication. It may also be known as CRDP.CRDP was registered under Law no.03/L-134,section 9 on Freedom of Association in Non-Governmental Organizations in Kosovo, on 18 February 2010 under registration number 5200213-5.CRDP is domiciled in Kosovo. Registered address and principal place of business is str. Shaban Polluzha, No 7, Pristina Kosovo
Centre for Research, Documentation and Publication has the status of NGO with public benefit under the UNMIK regulation 1999/22.
The Organization CRDP is exempt from tax on profit based upon UNMIK regulation no.1999/22 and is exempt from value added tax (“VAT”) based upon UNMIK regulation no. 2001/11.
Recognizing the need to support an enhancement of human rights in Kosovo, local and regional peace-making initiatives and advancing interethnic relations and perspectives, the CRDP has initially been established to promote the memory and justice. Both of these are critical foundations for the rule of law and genuine national and regional reconciliation in Kosovo and the Balkans.
The Centre's main objective and goal is to goal is to strongly advocate transitional justice through the promotion of human rights, calculating economic losses and supporting national and regional initiatives that promote peace. This is not only a necessary tool for effectively dealing with and rehabilitating the past, but also represents a unique opportunity for cross-boundary collaboration, confidence building and the normalization of regional relations.
The CRDP mission aims to advocate for Transitional Justice through the development of objective memory and the promotion if initiatives that normalize community and regional relationships.
The Center’s long termvisionis to develop methods for DwP mechanisms that may be helpful in constructing a history of Kosovo that dispels the two opposing victim-only myths. In this effort, the CRDP will be the central advocates of Dealing with the Past issues in Kosovo, Economic losses and Documentation and archives.
BASIS OF PREPARATION
(a) Statement of compliance
The financial statements have been prepared under the historical cost convention. Centre for Research, Documentation and Publication maintained its books and records in accordance with applicable laws of Kosovo. Where these regulations differ from International Financial Reporting Standards (IFRS), certain accounts have been reclassified, combined and, in some cases, recomputed, in order to comply with IFRS.
(b) Basis of measurement
The financial statements have been prepared on the historical cost basis except for derivative financial instruments (if any), financial instruments at fair value through profit or loss, and available-for-sale financial assets, which are measured at fair value.
c)Functional and presentation currency
These financial statements are presented in euro, which is the Centre for Research, Documentation and Publication functional currency. Foreign currency transactions are translated into functional currency using the exchange rates prevailing at the dates of the transactions. Gains and foreign exchange losses resulting from the settlement of such transactions and from the translation exchange rate at year-end cash and foreign currency liabilities are recognized in profit and loss.
SIGNIFICANT ACCOUNTING POLICIES
The accounting policies set out below have been applied consistently to all periods presented in these financial statements. The accounting policies have been applied consistently.
(a)Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and current bank accounts.
Trade accounts receivable
Accounts receivable are initially recognized at fair value and subsequently measured at their amortized cost less impairment losses.
Trade and other payables
Trade and other payables are stated at their fair value and subsequently at their amortized cost.
(b)Property, plant and equipment
(i) Recognition and measurement
Items of property, plant and equipment are measured at cost (or deemed cost) less accumulated depreciation and impairment losses.
Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of self-constructed assets includes the cost of materials and direct labor (if involved), any other costs directly attributable to bringing the asset to a working condition for its intended use, and the costs of dismantling and removing the items and restoring the site on which they are located.
(ii) Subsequent costs
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the NGO and its cost can be measured reliably. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred.
Gains and losses on disposal of property, plant and equipment are determined by reference to their carrying amount and are taken into account in determining the operating result for the period.
(iii) Depreciation
Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives of each part of an item of property, plant and equipment.
Annual rates:
Computers and related equipment20%
Furniture, fixtures and other equipment20%
Vehicles20%
(c)Intangible assets
(i)Recognition and measurement
Intangible assets are measured at cost less accumulated depreciation and accumulated impairment losses, if any.
(ii)Subsequent expenditure
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss when incurred.
(iii)Amortization
Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date they are available for use.
(d) Employee benefits
Mandatory pensions
The CRDP, in the normal course of its business, makes payments on its own behalf and on behalf of its employees to contribute to the mandatory pensions according to the local legislation. The costs incurred on behalf of the NGO are charged to profit or loss as incurred.
(e)Revenue from grants
A grant is recognized in the statement of financial position initially as deferred income when there is reasonable assurance that it will be received and that the organization will comply with the conditions attached. Organization grants to compensate for expenses incurred are recognized as income in the profit and loss on a systematic basis in the same period in which the costs are incurred. Grants that compensate the Organization for the cost of an asset are recognized in profit and loss as income on a systematic basis over the useful life of the asset.
Financial statements according to projects
Charles Stewart MOTT FOUNDATION
Project name: Planning and Administrative Support
Grant No. 2010-00432.02
Budget Line Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)Executive director/Program manager / 15,120.00 / 7,551.00 / 7,569.00
Financial Manager / 5,280 / 2,502 / 2,778
Project consultant / 12,600 / 6,338 / 6,262
-
Rent of Office (including taxes) / 7,920 / 3,065 / 4,855
Administrative costs / 720 / 433 / 287
Bank charge / 240 / 103 / 137
Communication Costs (internet and phone) / 480 / 134 / 346
Utilities / 2,400 / 1,195 / 1,205
Refreshment for centre / 840 / 88 / 752
Fuel for Vehicle/Transport / 888 / 104 / 784
Cleaning and hygienic material for centre / 720 / 293 / 427
Miscellaneous / 1,200 / 704 / 496
First research paper on Missing Persons / 3,000 / 2,075 / 925
Second Research paper on Archives / 3,000 / 3,000
Third research paper on Public Apologies / 3,000 / 3,000
Fourth research paper on Lustration/vetting / 3,000 / 3,000
Totals: / 60,408 / 24,586 / 35,822
Received Grants / 27,716
Unspent balance/Deferred revenues / 3,130
Pointis Foundation (Slovak Balkan Public Policy Fund)
Project: High School dropout and Domestic Violence among young males of families of victims and missing persons during 1999 conflict
Budget Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)HUMAN RESOURCES
Personal fees
Main Researcher / 1,400 / 1,400 / -
Research Assistant (applicable only for organizations) / 1,020 / 1,026 / (6)
PROJECT ACTIVITIES
Publications
Purchase of publications / 150 / 35 / 115
Print of policy paper in the form of leaflet / 300 / 300 / -
Meetings for presentation of policy paper
Refreshments / 200 / 112 / 88
Rent of space or equipment / 300 / 368 / (68)
Local traveling / 240 / 120 / 120
ADMINISTRATIVE COSTS
Communications / 100 / 37 / 63
Utilities (for organizations only) / - / -
-
Totals: / 3,710 / 3,398 / 312
Received Grants / 3,678
Unspent balance/Deferred revenues / 280
HELSINKI CITIZENS Assembly
Project:Cross border citizens' network for peace, inter-communal reconciliation & human security
Budget Item / Actual Cumulative ExpendituresCRDP/Kosovo – Project Coordinator / Executive Director (60%) / 11,340
CRDP/Kosovo – Project/Admin. Assistant (50%) / 6,893
Local transportation during regional/int.'l conferences / 15
Country-level thematic research work / 5,733
International travel of FPA staff / 273
Round-trip travel of participants / 132
Local (in-country) transportation / 29
Accommodation & meals of participants / 130
Meeting Grounds, Logistics & Hospitality for country-level consultation workshops / 627
Round-trip expenses / 253
Round-trip travel of project staff / 235
Accommodation of project staff / 379
Visa costs and country exit fees and charges / 195
Round-trip of invited participants / 48
Regional-level Research on HS Index/Monitoring & HS Thematic Areas / 663
One publicity event for country-level stakeholder dialogue outputs & research findings, and outreach / 80
Country-level implementation services of project communications strategy / 1,319
Administrative expenses / 1,587
Totals: / 29,932
Received Grants / 30,050
Unspent balance/Deferred revenues / 118
Note: This project is audited by the EU.
SeCons- Development Imitative Group
'Informal Practices of Capturing Economic Resources by Political Elites: Exploring Party Patronage in Kosovo and Serbia'
Budget Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)Consumables and rental of equipment
Voice recording machines / 198 / - / 198
Computer and related software / 694 / 659 / 35
Preparation/printing of questionnaires / 40 / - / 40
Field expenses, conference participation
Travel Expenses / 1,652 / 6 / 1,645
Meetings with partners (including accommodation) / 495 / 60 / 435
Organization of conferences / 2,890 / - / 2,890
Costs related to interviews / 1,156 / - / 1,156
Costs related to transcriptions / 545 / - / 545
Participation at international scientific conferences / 124 / - / 124
Miscellaneous
Publication (translation, proofreading) / 1,486 / - / 1,486
Policy related activities / 157 / - / 157
Indirect Costs/Overhead / 1,685 / - / 1,685
Banking costs and taxes / - / - / -
Financial manager/Accountant / 401 / (401)
Financial audit cost
Salaries
Senior researcher / 8,918 / 2,359 / 6,559
MA student/Junior researcher / 2,890 / 1,053 / 1,837
MA/Junior researcher / 2,890 / 1,053 / 1,837
Totals: / 25,821 / 5,591 / 20,230
Received Grants / 10,327.00
Unspent balance/Deferred revenues / 4,736.15
The Balkan Trust Fund for DemocracyBTD
Project: Kosovo Serbia Professional Work Exchange for Enhanced Policy Dialogue Program.
Grant #5052Budget Line Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)
Salary
Stefan Stefanovic / - / - / -
Per diem costs Stefan Stefanovic / - / - / -
Subtotal "Salary" / - / - / -
Accommodation and Logistics
Accommodation for the exchange participant / 770 / 669 / 102
Phone costs / 30 / 30 / -
Office running costs / 300 / 284 / 16
Subtotal "Accommodations and Logistics" / 1100 / 982.85 / 117
Travel
Travel to launch exchange (return) / - / - / -
Mid-term travel (for exchange exceeding four weeks) / - / - / -
Subtotal "Travel" / - / - / -
Promotional Activities / - / - / -
Organization of a roundtable on Human Security / 395 / 368 / 27
Translation Costs / 150 / 0 / 150
Consultation Costs / 985 / 988 / (3)
Subtotal "Promotional Activities" / 1530.1 / 1357 / 173
Total Project Expenses: / 2630.1 / 2340 / 290
Grant #5053
Budget Line Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)
Salary
Rron Gjinovci / 800 / 806 / (6)
Per diem costs Rron Gjinovci / 550 / 550 / -
0 / -
Subtotal "Salary" / 1350 / 1356 / (6)
Accommodation and Logistics
Accommodation for the exchange participant / - / - / -
Phone costs / - / - / -
Office running costs / - / - / -
Subtotal "Accommodation and Logistics" / - / - / -
Travel
Travel to launch exchange (return) / 60 / 20 / 40
Mid-term travel / - / - / -
Subtotal "Travel" / 60 / 20 / 40
Promotional Activities
Organization of a roundtable on Human Security / - / - / -
Translation Costs / - / - / -
Dissemination Costs / - / - / -
Subtotal "Promotional Activities" / - / - / -
Total Project Expenses: / 1410 / 1376 / 34
Received Grants / 3,727.94
Unspent balance/Deferred revenues / 12.33
The Swiss Embassy in Kosovo
Project: Pillars of Reconciliation
Budget Line Item / Original Approved Budget / Actual Cumulative Expenditures / Balance Remaining (Overruns)Direct costs
Translation ALB/SRB / 660 / 660
Editing / 300 / 300
Design / 440 / 440
Printing / 1,200 / 1,200
Launch of the papers / 1,200 / 1,200
Personnel costs (salaries including taxes, travel costs etc.)
Author of the papervetting / 1,100 / 1,100
Author of the paper on archives / 1,100 / 1,100
General administrative costs (infrastructure, purchases, unpredictable costs)
In kind contribution
Totals: / 6,000 / 6,000
KFOS- Kosovo Foundation for Open Society
Project: Monitoring of Law No. 04/L-054 on the Status and the Rights of the Martyrs, Invalids, Veterans, Membersof Kosova Liberation Army, and Persons raped during the war, Civilian victims of War and their Families.
Budget Line Item / Actual Cumulative ExpendituresSalaries / -
Personal fees / 476
General administrative costs (infrastructure, purchases, unpredictable costs)
Costs for editing and translation / 655
IT costs / 705
Totals: / 1,836
Received Grants / 1,836
Unspent balance/Deferred revenues / -
Centre for Research, Documentation and Publication Kosovo (CRDP)
Budget Item / Actual Cumulative ExpendituresSalaries
Personnel expenses / 1,565
Totals: / 1,565
Received Grants / 5,646.84
Unspent balance/Deferred revenues / 4,082.27
Property,Plant and Equipment
Furniture / Computers / Equipment / Total€ / € / € / €
Net book value / 1,298 / 881 / 461 / 2,640
Cash on hand and bank balances
31 / 31December / December
2014 / 2013
Current bank accounts with local banks / 18,376 / 10,259
Cash on hand / 0.00 / 0.00
Cash on hand and bank balances / 18,376 / 10,259
Client attends account balance in Bank through bank statement and reconcile with accounting records. During our audit, presented closing bank balances by client, we not found material misstatement.
Cash balance is presented without material misstatement.
Non-current liabilities
During the year 2014 there was no Non-current liabilities.
Account liabilities
Company does not have liabilities. Invoices and the accounting entries resulted correctly done and without material misstatements.
Account payables
During the year 2014 there was payables.
Tax payables
The payables which include pension contribution and the withholding tax on salaries was checked at the session of salary expenses and no material misstatement were noticed
Conclusion
We have examined all the direct and program costs of all projects executed by CRDP. We hereby confirm that expenses amounting to Euro 70,606 have incurred throughout the period. All expenses have been accounted for and documented sufficiently according to applicable regulations of Kosovo.
The accounts of CRDP are kept following the accounts principle: that is, taxes and other incurring payment obligations have been calculated along with payments and are included in the above figure, regardless of whether payment has taken place within the time interval specified above. All such calculations have been made whenever required by local legislation.
The control and evaluation of documents, expenditures and receipts of the project shows high conformity with the project objectives, program activities. CRDP has e well-developed system for economical and efficient conduct of business. This is achieved through minimization of the costs of resources utilized for the activities, always ensuring an appropriate quality. Expenditures incurred compare very well with budget positions.