Banking Information and Scheme of Delegation

Banking Information

  • Kids in Kathmandu Nepal (“KIKN”) banks with Co-operative Bank plc, PO Box 250, Skelmersdale, WN8 6WT. This is a Community Direct Plus account specifically for charities and is charge free.
  • Account details are available to Chief Officer, Stephen Smith (SS) and Trustees Jon Hamer (JM) and Kate Pottinger (KP) via online banking and the Co-op Business Banking app.
  • SS, JH and KP are signatories to the account. Only one signatory is needed. SS has a bank debit card with access to on-line banking as do JH and KP.
  • Transfers of funds to Nepal can be made by SS, JH or KP, together with ID information.

KIKN has elected not to have a credit card with this account.

Scheme of Delegation

  • Quarterly payments, as approved by the Board of Trustees, are made to a Save Lives Foundation charity account as part of an annual Donation Agreement held by Uma Mathema in Kathmandu solely for the benefit of:
    • KIKN sponsored children/young people at other schools or further education establishments in Kathmandu
    • Extra-curricular karate classes at Neel Barahi School
    • Breakfast clubs at Neel Barahi, Lubhoo, Ishwor, Shree Buddha, Adarsha , Janavikash and GuyheshworiSchools
    • Save Lives Foundation Charity
  • Other payments are made to the Nepal account when sufficient funds are raised for the purchase of equipment (e.g. computers) or goods (e.g. children’s clothes or school books), and as approved by the Board of Trustees.
  • The annual Donation Agreement has been drawn up between Kids in Kathmandu Nepal and the Save Lives Foundation charity with the sole purpose of being able to transfer charity amounts to Nepal to carry out the objectives of the charity.
  • The agreement is drawn up annually on the basis of the regular amounts transferred to Nepal and is signed by both parties. There is an annual reconciliation process carried out at the end of each financial year in Nepal.
  • From time to time, it may be necessary to make emergency payments to Nepal, for the benefit of the sponsored children, Neel Barahi, Lubhoo, Ishwor, Shree Buddha, Adarsha, Janavikash and Guyheshwori Schools outside the regular quarterly payments approved at Board meetings.
  • The Board of Trustees has approved that Chair’s action can be taken for the expenditure and transfer to Nepal of up to maximum sum of £1,000 at any one time, provided that the Chair and trustees have agreed that the expenditure falls within KIKN’s Objects in the Articles of Association, and that there are sufficient Reserves to cover the expenditure.

Revised Jan 2024