Financial Statements and Independent Auditors' Report
H.E.R.A. - Health Education and Research Association, Skopje 31 December 201,0
H.E.R.A
- Health €dueation
and Researeh AssoeEation, Skopje
Contents
Page I
ndependent Auditors' Report
1
Balance Sheet
3
Statement of lncome, Expenses and Changes in Fund Balances
5
Statement of Functional Expenses
7
Notes to the financial statements
8
ffi GrantThornton Indep enden
t Au dit o s' Re p o r t 1---------------
Grant Thornton DOO lV,H.Jasmin 52 v-1,7 '1000 Skopje ivlacedonia
T *389 (2) 3214 700 F +389 (2) 3214714 www.
g
rant-thornton.com,
To the Executive Committee of H.E.R.A
-
Health Education and Research Association, Skopje
We have audited the accompanying ltnancial statements of Health Education and Research Association Skopje (furthet tefered to as "FI.E.R.A" ot the "Association") which compdse of the Balance sheet zs at31, December 2010, and the Statement of income, expenses and changes in fund balances and Statement of functional expenses fot the yeat then ended, and a summarT of signihcant accounting policies and othet explanatory notes, included on pages 3 to 15. Managemenf s responsib ility for the financial statements The Association Management is responsible fot the preparation and fait ptesentation of these financial statements in accordance with accounting policies and procedutes disclosed as Management determines is necessary to enable that are free from matedal misstatement, whether hnancial statements of the preparation due to fraud ot eror.
in Note 2 and for such intetnal conttol
Audito rs' respon si bil ity Our responsibility is to express an opinion on these financial statements based on out audit.
We conducted our audit in accordance with Intetnational Standards on Auditing. Those standards require that we comply with ethical requitements and plan and perform the audit to obtain reasonable assurance whether the financial statements are ftee from material misstatement. An audit involves perfotming ptocedures to obtain audit evidence about the amounts and disclosures in the ftnancial statements. The procedutes selected depend on the auditors' judgment, including the assessment of the tisks of matedal misstatement of the flnanclal statemeflts, whether due to fraud or error. In making those risk assessments, the auditot considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit ptocedures that ate apptopriate in the cfucumstances, but not fot the purpose of exptessing 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 management, as well as evaluating the ovetall presentation of the financial statements.
mk
O
GrantThornton We believe that the audit evidence we have obtained is sufflcient and appropdate to provide a basis
for our audit opinion.
Opinion
In out opinion the financial statements of H.E,.R.A. present fatly, rn all material respects, the financial position of H.E.R.A. as of 31 December 2010, and its financial performance and its cash flows for the year then ended in accordance vrith accounting policies and procedures disclosed in Note 2.
Grant Thotnton
01" t
Skopje,
27 Aprt
201.L
+ lrh"urhn
o)
L as
f---
oo Oo
tf) $
EP cO '-Y
O
o o) o
O O) o-
@
.D
ni
N
aJ f G
o>'g f.-
N
00
L
(L
s_
@_
o N
oE
Ev
ro r
c\1^
OU} L
(o
cl (!G
to
ro
=5 co ONS o@(o co- NG
o
F
o o :) E
! o o o l
O) F-
(\I
f.-
(o
c)
$ N
N
co
$
(o
lf)-
(o
o
@
L
\t
c\{
lO N
@ o_
o o
(o (o-
o
to) E
0, L
(o
$ (9 i(o
(o
torr
ro
co
N
d ](t
tN
tiN
o
O)
(t)
(o
c\t
f.-_
o N
o
O)
c.)
q
@
o o (E
o
f
So) NO $^
o L J
o
-CY) NO) O)-
G
o
o
F
o
!t
O)O CDO $@N
o_ @
o
a o,
o d lo
oo
l.c)
c!
N.
C\{
Y
= E (E
o
o .q
L fl
@_
o
o o o (U
t0)
=
E o o
E
o ,d
o o
tr) @
O)-
N lr) c)_
o o L
ta
({)
N
@
L
a i
€t) lr)_
o.
o $
@.
@
o)@ o(o tr)_ o)_ o$ t'- tO
6t (o $. @
t* co (f) ro Cri
l
*:
.g t)
o
o
{i?
zo
q &3
(u
q,
o o (E
o
stt
E
(.)
oC
(t)
6
o,^ E rrJ .s Io r'"
c o o (E
O O e^ g:
HO
i:q) ('.o (u;i -tr '65 co
oo
UC = r t!c)
..e (s
.,)=_o
c-)
U (g
H
?
fr
E r :e sH €8
E;E-
i;
U ;5dEPE
o o o o (E P (!) L L
o
6 I o
F
o
o o (s o) o c) o (!
c)
l !
o
-o
(tt
Go,^ coF
cr9d -'--= ;E a Yo0) cx> oirS
z
o E o o q) o o o L
o tIU a o
E
J l-
o
F
o F
rf)
o),o o)o (o_ o_
ro
lO
tr F
N N
Fr N
o L
$NO NrN
-g
L
6 oo f o J
(L
.g
G o>'E .bP
!too
o
Y
oe)
Co
E
$,t\ o)N @-
t* t*
t\ N o
FF-
o
(o
(t,
E o (! (5
-l ol coi
s_
I\l
]f)l
c')
o
ol a"_l
t.r).
(o
@-
ro
O
(ol
cD-
tO
@
NI
(ol
f.-
rO
= oo (o
SN (o@ (o-ry
F-
orll)rr
o@ c) totrN
\f
Or-
(0
O)
N
-l +l
otl (ol
c\,t
i-
-o (H
o a f o L (!
6 o o f
o)
SN \t (o@ (o-ry o"
o
(\I
(o
E
f'-
P
O)
O
(o
(o
$ o-
f.-rr 6
c')
6t
(o
€
L fl
o.)
o
o_
(o
o
o
t6)
b.0
cf)
!to
co
|* (v'
(o
o.l
otNN
o L
13
cd
L
(E
o
O
N
o o L
a.
f
\?
t-
o
N o)
co@
ol
ri t
sc.) |r)o)
E
o
o
o)_ o_ o)
ro-
t*
@
F-
t\
tO N_
o)^
-{N
o)
F
cl
o
$,o NO .ll.-
t*
co o) N (oO
o
L L
o
=o
cO (ooO)
L
(E
O)_ O_
(o
F F
O)rr
t* \t ol
co
q (o
@-
co-
o,
c)
$-
or-
oo?
o o
,g
o o
@
p C)
lr)'o) @o O)^
o
N@
o
$ (Y) ro o) c)@
L
(o
t
=e
o'd
totr) (')-
L
o .l
o
o
c
3
\t O)
o^
(,o U
X
trl
F
(o^
ry
At
E
o
O
0.)
c)
o (E
rtr
+
Y
E
j
>-
.nl
.g
o
!
o (u o tJ> o
(-)
t
o o o
rt
(!
E? a^-c E c^
ur g=
Ecl,a/l,
I
g tE (u
oN
*\ -i
.:!il (r() 6aa
c,
:tr iI5
d
!r Ir-LVi .$o ir-o
o I
d, {1,
-c
t)
G
JflftIL = u-
E .E
= 5
= oE
3e
.9-oE g 5E (5t5 >o) = '=(s0 s(D ft AX oL L
E6
o 07=E; a Jo Looi?f = FP ssLx(E ==LYY (E(Ev
-O-g.i<<
ff
o
c(! oo
F ZJ
lr o
= 5
g o L
o lrJ E E
AE !.:'c l4-
o o o
o J
9 ott
o
*tg{Ep
E
J
o F F
o F
ai9
3Pc6,3 c=.99.!Uu-
l.rl O -9)! -ct/)0)(Dc tto0)x>c)
=ooilco
IL
c
o
F
lt
<ti Jo
(E I
O
z o ut
s +J (E
o
!
= d.^
a
d
I
b< Fl!
A o
JZ L
$
fut r'ri'92
zf
o U'
G
tr
-o
o an
o
(EJ
,
.Hgx
z
@
g;< BEfr
o o
(r?
(rctrlxrea\
a
2
o o
o L (!^
=o 63
c) , N I N N N c) @ rON
loo l=O rr)O) ON
o,t-co"@ (Y) cO cD^ N€ N N @ tf) q rf)
rlo @- lON@ -F- o) lo6
'
' o) (O c9
l-
€ @
c\t o)
lo (f)
Li
(EJ
o>'E c^ (!0 '-o i '-<
(L
oE
!v
Oa CIL .!(E
$ tr)_ @
N
cv)
O)
(r) ro-
o ro
(o-
l(t
=E co se)rNoorr(ol (O(O N €
ce^s_ \ ry ry ro (o(o o o
a
lf)N
C)
co
G
O o o f ln
co I s@ ' @(o(oo (o-$ry rJ) t-(o SN cf)
!t
o)
-9 (!(J
oE ot OE
f-
+{
d rl € :{
(s
a
c.)
(n
r4t
| $
(t)
0o-
or
N
(Y)
C)
.o dL
U6
$rr0orIN NO)00
ry O@F.
o)_
o)_
X 14
6)
6
w
a\
O
E "6
o o to
E
o L
U
o a, o
l\
9: -L (DJ L L
o
(o (o
G P
OF
o
@
(o lf)
v
o)l(oollo) o) No) tf) O)o) (o 60
t'-
N
o, (0
rf) o ()
o *
l'-
os \nL (OF
+
6t (9
L
o.9
(Y)
N
=o
(!t L6) ot
$-
f
d t*
.sE
(9^
o* o o-
@
=s -.9
E
o o L
(o (o oo
(o
lo
,,(o,()
O) coNt-
l'-
t* (f,
s
+ (o
N_
sc)
(9 ct)
d
l o o
z
L{
t
q.i
_o
o O aZ o)\ 'oa
6 6
{J
{6
9o rrJ q=
CJ
-c
EO
(E O
j:q) =L
Fi i-{
I
adh
tr qe = E
ccJ (!a
I
\f o o! (\t
Ce
(J
O)
l
!t
b0
ot
F
'-c
C)
(9 (\t
o
(s (c FA
a
co
ln,g
tro
O
d
a
*.(/)U)(!
E
o 3'=FXla .E tu = € $ e E = o tr+tro.=xFo>oF " o 6K6E6;dC/)b96 z 9o9Eb*Poo:o !u-!0+EO.9bb<s
,9
5: :
EtCsEF3588!
(,0
J F o F
L
.o o>$
o.)o Fr (O o) o)
(Ol()6)Fr FNO@ @(ONN
(t
g 6 o
oN$O
\i,lo loN \@_ N (90
c.t co (o-
It-N-
N
(!J
oic '-(E (L'-
@ oo rc) \i- N o 6
\tOc.)(o OrOeFc/)(ocoN COr(ON $(ooco t--
o')
OFTCD
Y o E I o o L o (! (!
(o,co t\ ootr) ro(o o{ o-
(f)l (") c)l @ 6)l ro
da; \F$ (o t*
o-
\j
N
\t
$
o
=o
NO)OO) @ a(o F$No N \fN f--, !o- (o- co- o) N$ $orN@ t- (.) lr) Cr)IOIf) l'\ (f)
a U, 3
I lr)oJ(o
lr) t-o(o o- (o- i-_ v
EE (!E
6E Ll
F!fe.) s:f$
to
NO) OlFOD
oro) I\r
O)
N -. co
o) \f
tr)
O)
lrtN o (')
t-l o <rt |t(Y)
6l OrS <tl
c\l
lor(o €o) oo-
(o_
N00 @o
@-
(o N N lo
ah
o
lr N\fF(O -F--(\1 t-_ lJ)- O_
! o
.o (!
-oE
(o o|J) N odN (o (o
!-
sNcos N
(5
F- O) O cl) s (f)o N lf) $ -O)$N o)_ o- N_ lo- q N(o OcOt-(O N otc) N$(ON $ ON loN N lf)- $_ sf^ oo (oNtNJ
to,c)
$
F.c) tf) lr)
€N
€(0|.r) o)^
CY)
oq
o)_
cDl o)
Nl ot
9L
Cl: of
L
o I
o
Y
o
F
G
c
E
o
o
o
$O (.,(J
s=
!t
g
o o L
G
j
o
f6
& ru
5
5
'6
L fl
tr
;o -aE C) 'd
I ss$c) cD<f)(olo N(O(ON O-@|f)o)NS NOF-N tr)N(o
o)
o o
or(E
o L
(J
6,
F-tf)(OO) F(Oolo o)^ @- (o-
o o
oNrf)o) NONO) NN_(f)(O
L
(0 {ro
loN Qo) NN oiQt(l) c.) \t:
N @_
\
$ q N s c)
sf,\f
@
q()(Y)N
("t ot
ro ct-
o-
(')
ro
66 (o$
(0,o
(\l
o) (f)
to
@
ds o) lrJ o @ F (r)
Jo ot(9_
<.i
c)
cf)
c)
co-
$
(o cr)
(o
f
.Y L
o o =
6
K
t
G 6,
E
ttt
L
II
C)
.9
o
q)
(!
o
ol
9o !U ts^ O:
si
o_h
tsct
t: ifr En ru5
oo
c(l, dn
uJ c-
l.t-ot
E
;o c)
E q, (6
.=
=
garr-9
o<<<< 3-*-s ^L(8(s(5(s xoooo foo(,o
lrJ
U)
o o o
o o '- :- z tlt
or9 OcDts
g6
(U
$ o o c
O7q '6<.
o!
o
o o L
'-
dL
o
frEnE *b89,
ah
6o
(E
cj
X
6
I
d
Ot
G
| '1 tf
o (') ro@ o) .+(o lo
o) (9 o)
;
o
o
-c
\{-
rO
F
=o L
(o
6z gDo
o to 6o oG ^O) 6_q (t s To LC)
a>
(E
'6, c
F
G
o lrJ
(s
(5
':o - oc 6) irr !u
E
o o
o lrJ @ EE f; z IIJ Eg 3 (L eo;i xuJ '=c-6 FS.
J F o o o F
c) IJ-
o E O) o
o-.c)
zEa
o o
o c C) 2 L o o o q) (E
@
J
(g
z
f
lr O lt
a
)a
(!
.E(6
o
EF o-
L
o
@O)slS ON6N 6l r.-- F_ r-$=t(O NO)\t-
(oN(o(o,o) oscqo)o o_ (o- (.)- o)6cqF*$(O
C.)_
NC{N
F
oo)
o o N J F o F
ra)l=@(o (')CqNF. (os(f)(o ;oq -oroi.i< o o <-F-\tF --C')Fcos'- On 6-
cQ
f-N c! o@rf)$o) (o- o_ (o_ oorJ.)ooNo C.)SNO rN- O_ O
c(! c=6
,
(f) ro_
l.-
-
= U)
lo .9(5
(oNoo r(f)(oo c)---o)^\ otococo Fr6-
o)oro@,t\ t'cO O) l'* (A^ t'-^ $S^ F-r@N@ o
N
@-
EF oF
c(! c'= @ oE c -o6
E 8A 6'
a
L
C'
o o L
o o o (\t J F
o F
(ONsfN \+oro(o $- tr)- st-ooot$O)l'-N tf)C')r@ l.r)ro$
O(f)ro @@(r'
o- @o o) o o (f)NO) .= c E c
o
.b
o (5
o
O,
oo)o,lr) cOOO)c\r o- F-- ot'- Cq O (O Lf)@O)@t\cf)r{)oo
,o ro_
(o(o1.-
r.--
tO
o @N
O)
(oo)o)Noo)o,t\ (O(.)ecqoOOOrssl c9_ (o_ (o_ o^ (o- o- t -- o^ s|r)oF-lr)coo(o(.) sC96)NC.)@Or@ (o_cq-o)-@ \ c.) Lr) s|r)C')
N@
:
-o
a o) c E oo-
5
e@ r$ cf)NN (.)N
U)
(orr)oos,lr)$ ra)(o$oo)o $_ lf)_ o- os(O-\tO)(O\t
co_
c\L
(f)_
l'-r@FO)(.)N sNN
O O
0
o)@No)oorooro $sfo(c)$00(o$$ ao_ @- co- ro- \ -_ lr)O)@-rOF-Flr)O r@o)(o$NNsN rcr_o)_11 (o@rN N-r
O
X []
&! '€
coscqoF-,s@,(o @NrNO-N$ Ol_ (O- F-- cO_ -_ (O @ t(.) N (o(.)$oLr)!o roroo)N
(€ l-{
"X
o ,6
U
(n
o
\-{
(! L (!
o (tt
(t
F-{ (+{
€,
,X
6
]J
tu xo c c:
CJ
.
'1 Il = I
= =
t o o
to-
o o (,
=(6 o r
o tu
hx -9" i[x inll (g= ()(, co (oo
[ao
L{
H l.{
O (q
-,lJ
O
(')@N(OO-NrO) NNrlf)@N(f)$rC) lr)(Olr)$$NNs@ lc)rtrrNtr)tr)o.i(oc.i (O-slororoN(tLr) (f)- N- e_ (O -Nr
(o_
o_
ao-
$_ co_ cO F-
@
s
|r)
<r)
\
,ca$oN,<-$ (OOOONN d)rool.-N (f)rr)@o+c.i (f)$
aao l-(!)o o@F==
06
od a 2= o F3.=t5 r.E: dfi ri*1.0 8 E 6 El-8?8 E; E = gESE P fr 9 E E t^b ! ; $ Eil;g; =E * q H s E E 855s5 5 A t
;
I
o o at c)
o o
o
(u
E o F
Fl.E.R.A.
-
Health €dueation
ame$
Research Assoeiation, $kopje
Notes to the ftnancial statements
'l
General H.E.R.A - Health Education and Research Association is an independent, non-governmental organization, an association of citizens established during 2000 according to the Law of Associations of Citizens and Foundations (OfficialGazette of RM no.31,/98). The Association is registered in the register of the Association of Citizens and Foundations with Decision no. 01 / 3G.963 /2000 from 20 January 2000 in the Basic Court Skopje 1 in Skopje. The Association opetates in accordance with the Law of Associations of Citizens and Foundations and a Statute. The main bodies of H.E.R.A. are the Assembly, Executive Committee and Executive office. The Association is located in Skopje, 56/1,-4 Debarca Sreet. The Association's mission is inclined towatds achieving enjoyment of basic human rights of women, men and the young who must be cortecdy informed and have appropriate access to high quality conf,tdential services in ordet to make their infotmed choice regatding issues such as their sexuali$, as rvell as the prevention, care and treatment of sexually transmittable infections and HIV, including achievement of fuli protection of the rights of people who live with HIV/AIDS and their close families, conftaception, access to safe and legal abortion and exercise of sexual and reproductive rights. The Association's five ptiotity focus ateas are: Abortion - in order to guarantee the right of choice to any woman, provide access to safe and legal abortion and increase the tate of use of contraception; Adolescents - in order to achieve greater consciousness among the youth with tegard to their sexual and reproductive health and rights and ptovide access to comprehensive information, education and services for the enhancements of sexual and reproductive health among the youth; HIV/AIDS - in order to achieve lower tates of HIV/AIDS prevalence in the country, which is in accotdance with the 2007 - 2011 National HIV/AIDS Sttategy and provide fu1l ptotection of the tights of the persons infected and affected by HIV. Access - in order to sewe each petson with valid information and knowledge in connecuon with his/her sexual and reproductive health and provide access to a variety of services in otdet for each person to be able to exercise his/het health, social, sexual and reproductive dghts; Advocacy - in order to achieve full compliance with the different needs of each individual and to protect his/her rights and in this sense achieve highest possible standatds, hatmonize accotdingly: national policies, regulations, laws and programs in connection with sexual and teproductive health and rights.
H.E.R.A.
-
Health Ec{ueation and R.esearch Association, Skopje
Notes to the finaneial statem'ieflts {eomtinuled} A,s of and fon tl'le year ended 31 Beeen'lhcr 2010
(All amounts cxpnessed in Macedonian Denans asld U$ Dollars unless otherwise stated)
General ieomtinued)
The following table summarizes the Ptojects implemented dudng 2010:
goal
Project name
Strategic
Medical abortion in Macedonia - Providing choice for women
Abortion
Supported by lnternational Planned Parenthood Federation
lnternational Planned Parenthood Sexuality and learning disabilities
Access
Youth friendly services "Sakam da znam" Raising awareness campaign for Human Trafficking Two Litlle Girls Roma Health Facilitators: Macedonia Scaling Up Roma Health Facilitators (RHF) in Macedonia Keeping low prevalence of Domestic Violence
Access
Sexuality Education in Macedonia Capacity buildlng for 11 municipalities in implementing national SRHR strategy HIV PREVENTION CARD FOR MEN WHO HAVE SEX WITH MEN (MSM) HIV PREVENTION CARD FOR YOUNG WOMEN AND GIRLS
Advocacy
Prevention: Testing and counselling
HIV/AIDS
Secretariat of Country Coordinating Mechanism
HIV/AIDS
Nothing About Us Without Us Peer education for prevention of tuberculosis among young people aged 15-25 Sexuality Education in Macedonia - Now make it happen
HIViAIDS
Development of medium{erm Strategic Plan NGO H.E.R.A.
TECHNICAL SUPPORT BY HERA TO
2
Access Access
HIV/AIDS HIV/AIDS HIV/AIDS
Working with boys and girls in rural areas "Boys do matterl" - engaging men and boys in
Skopje
Access Access
of
SPFM
Federation/ Municipality of City Skopje lnternational Planned Parenthood Federation lnternational Planned Parenthood Federation Norwegian Church Aid Norwegian Church Aid United Nations Population Fund lnternational Planned Parenthood Federation Centre for institutional development lnternational Planned Parenthood Federation United Nations AIDS Fund Global Fund to fight HIV/AIDS, Tuberculoses and Malaria Global Fund to fight HIV/AIDS, Tuberculoses and Malaria lnternational Planned Parenthood Federation
Global Fund to fight HIV/AIDS, Tuberculoses and Malaria
YOUTH YOUTH
United Nations Population Fund lnternational Planned Parenthood
YOUTH
Federation
lnternational Planned Parenthood YOUTH
Federation
Capacity
Building
Capacity
Building
lnternational Planned Parenthood Federation
lnternational Planned Parenthood Federation
Accounting policies
Following are the principal accounting policies adopted in the preparation of these financial statements:
2.1
Basis of preparation
The financial statements of H.E.R.A ate prepared under the historical cost convention modified in accordance with the International Planned Parenthood Federation (IPPF)'s accounting polices issued in June 1,992, and revised in June 1995, and the accepted accounting principles, practice and
accounting standards for a presentation of assets, liabilities, funds, revenues and expenses, and the operating results on accutate, fair, confidential, complete and punctual basis.
l{.E.R.A.
- Health â&#x201A;ŹdueetEon
{s
and Researeh Association, $kopje
t{otcs to the financial statcmemâ&#x201A;Źs {cos'rtinued} As of and fon the year ended 31 December ?01 0 {ANl aneounts expressed in Macedonian Denars and U$ Dollars unless otherwise stated} Basis of preparation (continued)
The financial statements have been prepared as of and fot the years ended 31 December 2010 and 2009. Current and comparative data stated in these financial statements are expressed in Denats as functional currericy, and translated into US Dollars as ptesentation currency.
2.2
Foreign currencies
Transactions and balances
Transactions denominated in foreign curlencies have been translated into Macedonian Denats using exchange tate at the date when amount is teceived ot paid; Translations into US Dollars exchange Income and expenditures in local currency are ttanslated into US Dollars using the ^verage rate obtained from the National Bank of the Republic of Macedonia middle exchange rate on the the exchange of US Dollats during the pedod, as follows 1 US Dollar = 46.8877 Denars;
Assets and liabilities are translated into US Dollats at the exchange rate prevailing as at the year end, using the National Bank of the Republic of Macedonia middle exchange rate on the last day of the reportingperiod as follows: 1 US Do1lar = 46.314 Denats; Exchange differences atising from translation ate taken directly to reserves / fund balances (i.e. not recognized in the statement of income, expenses and changes in fund balances).
2.3
Gash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks and other shotttetm highly liqurd investments with original matudties of three months ot less.
2.4
Fixed assets
Items of equipment ate stated at cost less accumulated depteciation. Cost includes expenses directly attributable to purchase of assets. The operating Fund of the Association increases for the amount of the value of equipment putchased. Equipment is recognized as capital expenditure in the period of acquisition, i.e. when the funds (in cash or in assets) ate received ftom the donors. Depreciation of equipment items is calculated using the straight - line method as to allocate the cost / deemed cost to their tesidual values during the estimated useful life, as follows:
2010
Vehicles, computers, equipment
10-25%
2009 10-25%
Depreciation is charged against the funds.
2.5
Fund
Funds ate initially created by foundets' contributions made in monetary andf or in kind assets carried at their fair values. Subsequently, funds are increased/ decreased through additional foundets' conttibutions, than results (surplus/shortages) fiom opetations during the periods, as well as changes in the net carrying amounts of the equipment (capital expenditures) as explained in Note 2.4.
$4.E.R.A.
*
}$ealth Education agrd Research A,ssoeiation, Skopje
N6tes te the fEnancial staterments (continued) As of and for the year ended 31 Decernber 20tr 0 (All amounts expressed in Macedonian Denars and US Eollars unless otherwise stated)
2,6
Revenue and expense recognition The recognition cdteda of the revenues and expenses of the Association principle for modified presentation of the operating transactions. On this basis revenues and expenses ate tecognrzed
.
are based on the accounting
as foilows:
Revenues are recognized in the accounting period in which they occurred, measurable and available. Revenues are measutable
if they are
if determinable in term of value. Revenues within 30 days
are available when they are generated in the accounting period when occurted or
after the explry of the accounting period, provided that the reveoues refer to the accounting period and are used to cover the liabilities fot the respective accounting period.
'
Expenses are recognized in the accounting petiod in which they occurred ot within 30 days
aftet the explry of the accounting period, ptovided that the related liability has occuted in that accounting period.
3
Gash and cash equivalents 2010 US Dollars
9,966,395
215,192
5,029
108
5,581,701 638,779
130,826 14,972
9,971,424
215,300
6,220,490
145,798
Bank accounts: - in domestic currency
- in foreign currency Cash on hand
4
2009 Macedonian
Macedonian Denars
Denars
US Dollars
Fixed assets Computers and
Medical/ clinical
Furniture Equipment Accessories
equipment
Office Office
Total in Vehicles
Macedonian Denars
Gost of valuation At 01 January 2009
248,782_ 413,115_
1,110,406
248,782
413,'115
1 ,1
64,720
89,630
1,772,303
Additions during the year Disposals
At 31 December 2009/
1
Januarv 2010 Additions during the year
1.772.303
10.406
103,864
Donations
-
258,214
1,769,969
1,769,969
1.769.969
3.800.486
Disposals
At 31 December 2010
313,s02
502,745
1,214,270
139,318
224,990
619,865
33,645
104,409
134,249
984,173 272.303
172,963
329,399
754,114
1,256,476
26,753
50,442
130,497
1,078,209
1,285,901
199,716
379,841
884.611
1.078.209
2.542.377
109,464
188,125
490,541
75.819 113,786
83,716
356.292
122.904
329,659
Accumulated depreciation At 01 January 2009 Charge for the year Release of disposal
At 31 December 2009/1
January
2010
Charge for the year Release of disposal
At 31 December 2010 Net carrying amount
2009
At 01 January At 31 December 2009/ Januarv 2010
At 31 December 2010
788,1 30
1
515.827 691,760
1
,258,109
H.E.R.A.
-
Health Education and Research A,ssociation, Skopje
12
Notes tâ&#x201A;Źr tlre financial staternents (continued) As of and fon the year ended 31 December Z&tr0 (All an'lor;nts expressed in Macedonian Denars and US D6llers unless otherwise stated)
Fixed assets (continared)
Office
Office
Computers
and
Furniture Equipment Accessories
Medical/ clinical equipment
Total in US
Vehicles
Dollars
Cost of valuation
6,220 (38e)
At 01 January 2009 Exchange adjustments
"
10,328 (645)
27,760 (1,734)
44,308
(2,768)
Additions during the year Disposals
At 31 December 2009/
1
Januarv 2010
5,831
9.683
26.026
Exchange adjustments
(442)
(73e)
(2,023)
Additions during the year
1,380
1,912
2,215
41.540
Donaiions
467 _ 37,749
(2,737)
38.216
82.059
5,507 37,749
Disposals
At31 December2010
6.769
10.856
26.218
At 01 January 2009
3,483
5,625
15,496
24,604
Exchange adjustments
(1s2)
(270)
(864)
(1,326)
763
2,366
3,043
6,172
4,054
7,721
17,675
(3e5)
(513)
(1,358)
571
1,076
2,783
4,230
8,284
19,100
2,737
4,703
12,264
19,704
1,777
1,962 2,572
8.351
12.090
Accumulated depreciation
Charge for the year Release of disoosal At 31 December 2009/
January
2010
1
Exchange adjustments Charge for the year
29,450
285 22,995
(1
,981) 27,425
Release of disposal
At 31 December 2010
23,280
54,894
Net carrying amount
2009
At 01 January At 3'1 December 2009/
January 2010 At31 December2010
1
2,539
7,118
-
14,936
27,165
I _t gl Ol Lt
1$@l
oN
ss _o
I
rrl 60t
| I
lo,l R. €ic o o-oal oN
d'-691 OS I
.
I
-E9l (L:ol
o
'
3
_-_tlE tr:EE] -vcl
N
-e.Eo<l 6h-aso-l E.: r,:ul
5:e:=l *
I
I
,l
i
I
r
I
i
;
@o
3n
H
E ol
!
d
*66ll 5
Bel
-.LU)lrl
d,
"tr
o ($
E .g o .A
v,
o o q) o o
v
(5
o rg
cl
5 € TU -e g f6 c)
K I
q 4
ui
-E
*5H qtE .Ego EE=
I
E o .t
E:! I
fit; IE pEg O
q
flBEE --E-
|l
Eg€;Fl c*$fi=l
N
o a a
o
o
N.
ry
@
ro
o o
o
c!
O-
N o o
o N
o
N
@
N @ O
@
@
N
N
Nll
rtll otll 6il
:l -ll I |
oll
@-ll
l"il
o N
It
€ @ tse o
N o^
@
Nll 6il
:l:ll
ol Nl 6il 61
Il Il
o 6:t
@
I
o_ll
6
ts
o
I
so-
I o_ll rll I
6
o on
N
o
N
l;ll
@
N
It
o b
o b
o
\$
{ ts
|
i
@
@
o-
o-
o
e
€|
st
o +o
o $, \t
o
n @
@
@
s,N o@ @_ o@ @ o
h o{ @
o
s-
o-
$
N
s
o_
6i
_l.ll rl ol Fll
@il
-lll sil $l
+ll til
:
I
N
$N
o |
| oq^l EE.bil
6l -l
I
EE **-
:3
N
a
'l
- +
EH SsFecsuFl E
gHE ? 6 co9 tE!4
i
@_l
I
I
o o
N o o
@
o^
e
@
o 6
@
o
@
o @ o
@
@
@
o o
o o
o
o n
o @-
n N
N o $, N N $
$ N
@
@
@
\
Il
N
o
l^ll
N
o s
h6
l:ll I
I
N
oI
XE
-o
Nlall oi oll
lull o o o^
N N
E t : ",,1 _==1 s Ifigrl n ;* f; *e,€i as I ln= r; "rEll f L
o sl N o 6
o o o-
@^
s=t :5 gEl 3 il
bdl z()l
@
N o @_ o o c! s ry @
@
I
E=lsEI oll l'O e --i o e? o !.Yr 6 F F|
ro
@
@-
N
o t
@-
o
o-
o o, N oi
N
I
@-ON N- S^ O^ asoo Nr NO
o o
o
N o
o- c! o- o- vooo@o o@s$ o@o
€
@_
\
I
O-OO@ $€ON-
@^
$ o
I
I
R
c P
@-
N N
Fr
b
o o $
ts
*p oeEESpEg o N
o
N
I
6 d r o r o
=
o o {€
o
o o^ N o q
I
N
=:*1
N
o N oo @
o @ b^ N
I
I
s
N^
N
o^
ss nr
I
|
,a6 !>. -l 'P=.s->l H.eEfig si dbo=El
N
N-
o N o^ o 6 o
|
,=,ol
N @
ct N
o_
o=l
d @
I
0.*1 dp s
s?
@ @ @
I
o. O
o o
\ts
h N
or
-:
o,
s-
OO
I
s.
-ll @-ll
t -il 6ll
s
N
I
'l
N
6 N o^ o
o
N
@ I
€
l"ll I t-il
,N
|
@
c.{
@-
@
\i ri
|
,l t o
F
$ .
r
l-
:
q ro
o
o o, N o
orll
t11
tll
b
-+-
o N
I , I
N
I
o@,o @@@ N^ -s@ o@ Nr
N
o nl
o .l € sl
@
\i !i
sf
@
-l_ll
61 so o_l
cY
+ sl +t N
+
6
{l
6il
o_ll
oll
@il
-_ll
"1,-ll
| I
HF ilc i: ui ee;l :EE E-
o E o C
I
-lerrEEeHi
gla ,"=E EIE$FEsE*l
o
:f-
@ll
'o-
o
E
o
ll
o
l l-
ac o OF r.! Y
o o
= o
xo o
F
o 6L ..G
;> GO =E gO LO
f eq.E LA
i
6 =o a,i
€ 9l G -. h a
g: g EgPb * o:6o tr o c 6 E ;Eg= -b; 3 ii Lo.c E q I 9 -
!
c o 6 :! (, f;l.I-E
O
tr
-u o .t/ c c i!
o E o c
'-f E
I5
-!
c o o; x;: u>
OIE ole
ll
I
5lr -ll El* 3ll cl: >ll gll 8lE xlc !ll
ot!
Eil
sl: €ll ol= cll *1"'ll
I
l6@ lN@ !!l ol
-i
*o,
s@-
N ro -j
$l 3l
'l
rt I
ro
s
l
sl
:El -l !cl
S
:ts
J
3
lN'
o> I :Pa] oldl
-l
N
o
5Eq
o
HF] gEEfiE]
SEdS
@ @
H
o
o N
9
oq
o 6
\r, 3o.
N
=Esar=l l-d, .-.J6o
1
f=ro'l c.!fl
loN'
gEl
5:l
gN
o (t't
o .g
o o @
fn
g
g 6 €! {},}
{l)
M ru H
6 6
{6
{-}
E ul !
tE
g{, ,
q il. ui
&
eEk XN c L o
o N [)
E o
o ts q
"j_ N
q
o o
N
J6<} .^nT :i-di
c 3
;IJ
o
\ o
@
it'l
!
L
-
F >g H al o.
.i€r
N N
N
-l;
:l: ol ol
a o
@
:f
c! N
61
o
6
€ @
I
@
-l_l 6l -l Nl
o
N
@
ol
I
6 6 c
JJ 3l
-tt
o
o rt
O
o
I
b
o
@
d b
dl
o $ @o
=lJ
N
ts N
I
p q-J
I
' EEEti flBE8I
_l=l =l
:|
H N
I
N
c-^
st o o) c q
6
gfE !H sEd Ei E{ F E;
N
S
,l-l=lI
I
I
N
EEse...] 3o EEF b E"EEEtl 5:i= E Ep.= : e": Pf;+-] irorg
(6(E,u: -rY ';ioxi
N
@
l2
FEE :
t
,N
@
I
@ @
€E>I
c
fi
tl o o
i
o
' Pi 8e:ad$ugl ;o =: -Fl
'Ei: =
-l
o. N
.j o
esgi 3r t=1 E-ql HF i"iell ? g ,?
ol
e \f
o Nr
s
Nl
N
.l :s
E E
_l_l
€ @"
6
di o
o o
N
l
>il oel
3re-i
g t 6cl
@
"tr
+
="1
=E
l,el
@
+
=€3351 E"-='l .o<l o-l
o
o
ebEpSEsl 5ryd +i E5J
R t g o
o 6t o N
lpl
I
LFI'6'
@
lol
=;E$N r
-q€oQl OboEtrl
€ 3 ohl 5 s
$ N
-ll
lo, 3 o N
.Eg'l Bol
N o o-
El
$
a3 E .= 6 E 6
l"
:l_l @l ol sl Nl
Eg;l
E:lcdt".o_l '--EitL6':-zl
o
=
I
EF;
@
N-
N@S$ $o@N ON @@
N
q @l -l
ry
o
@_ o^ ro rN
@ 6
I
-91
o@so O$O-
ts o o_
sl
gia x?
--
[
l6l lNl l6l
@
€ a-
l
o ts
ss o-
FS oN$ SNN do
@-
o
N N
q o o
6
I I I I
l€ lE
o
I
g
:
l:lE g$,,E 6e I
o c
'-
-
E
rE 8=58 _lflefigEfi EIE$FFs:
E
,ll El ol
I
I
E f
6
o
= E c
.c
o o
o
Lr.l
o
o 6L ..6
pe 6o
Ef sl; gO 6lE gl
@l
EIEEI FIF LO El
c o q
€ eq,? 6Y d: 4 d)i O:6b
E c O O tr g tr o c
Egeb E: Eg:E.: € !E c o o -u J 6[O
.E
5 !
o !
U :
E o :
E 5
o
= E C
ttt
,iq
r!
o
o
o;
H.E.R.A.
-
hlealth Eduaation and R.esearc&'r Association, $kopje
15
Notes to the financial staternents {contimared} As of and for the yean emded 3n Deeernben ?01 0 (All amounts expressed in Macedonian Denars and tl$ DolNars unless otherwise stated)
6
Accounts payable
As at 31 December 2010 payables in the amount of US Dollats 7,664.38 (2009: US Dollars 775.27), telate to conftacted liabfities which are not settled as of this date. Following table provides details of the Association's payables as at Balance Sheet dates: 2010 Macedonian
Denars
Liabilities for Personal and benefits expenses Trade payables
7
354,968 354,968
US Dollars
2009 Macedonian Denars
US Dollars
33,077
775
33,077
775
7,664 7,664
Gontingencies and eommitments
Tax liabilities The Assosiation's tax books and tecotds, for the years ended 31 December 2010 and 2009, have not been completely inspected by the local tax authorities. Consequentially, H.E.R.A.'s tax l-iabilities may not be consideted frnaltzed. Additional taxes that may arise in the event of tax audit cannot be detetmined with any reasonable accura.cy.
Litigations
At
31 December 2010, there are no legal proceedings raised against H.E.R.A. No ptovision has been made as of the balance sheet date, as professional advice indicates that it is unlikely that any significant loss will arise. In addition, various legal actions and claims may be asserted in the futute against H.E.R.A from litigations and claims incident to the ordinary course of business. Related risks have been analyzed as to Lkelihood of occurence. Although the outcome of these matters cannot always be ascertained with ptecision, the management of H.E.R.A believes that no material liabilities are likely to result.
Commitments
As at 31 December 2010, the Association has commitments in amount of Macedonian Denats 224,999 equivalent to US Dollars 4,858 for intellectual serwices for 2010.
8 Events after râ&#x201A;Źporting date After 31 December 2010 - the tepoting date until the approval of these finzncial statements, there ate no adjusting events teflected in the f,nancial statements or events that are matedally signif,cant for disclosure in these ftnanc]al statements.