Apake Public Foundation
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Apake Public Foundation Separate financial statements for the year ended to 31 December 2018 with independent auditor's report IMAZ^RS INDEPENDENT AUDITOR'S REPORT ON THE SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 To the Founders of Apake Public Foundation Opinion We have audited the separate financial statements of Apake Public Foundation (hereinafter, the "Foundation"), which comprise the separate statement of financial position as at 31 December 2018, and the separate not consolidated statement of comprehensive income and separate statement of cash flows f& the period then ended, and notes to the separate financial statements, including a surnmary of significant accounting policies. In our opinion, the accompanying separate financial statements present fairly, in all material respects, the financial position of the Foundation as at 31 December 2018, and (of) its financial performance and its cash flows for the period then ended in accordance with International Financial Reporting Standards (IFRSs). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Separate Financial Statements section of our report. We are independent of the Foundation in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other lnformation We note that in accordance with IFRS 10 "Consolidated Financial Statements", the Foundation prepares consolidated financial statements. The Foundation on its own initiative decided to issue separate not consolidated financial statements for the year ended 31 December 2018 due to the fact that the subsidiary company did not perform economic activities during the year ended 31 December 2018. Our opinion has not been moffied with respect to this circumstance and has been expressed on the separate financial statements of the Foundation for the period then ended. With regard to the above we notice that we do not confirm credibility of all substantial facts and legitimity of received income and expenses of the Foundation's subsidiary Radiotherapy Center LLC (Note 4). *" t'' T2OOII,KYRGYZSTAN, BISHKEK, 125lI TOKTOGUL STREET Praxitv i TEJr: +996 312 882 155 - www.MAzARS.KG MENBEfr C,, GLOBAL ALLIAI.ICE Of "MAZARS" LLC INOEPENDENT FIRMS Page I out of3 Responsibilities of Management anil Auiliteil Entity for the Separate Financial Statements Management is responsible for the preparation and fair presentation of the separate financial statements in accordance with IFRSs, and for such intemal contol as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the separate financial statements, management is responsible for assessing the Foundation s abilitlto .or,tir,r" as a going concern, disclosing, as applicable, matters related to going concem and using to tfre glmg concern basis of aicounting unless management either intends to liquidate the Foundation or ceasl operations, or has no realistic altemative but to do so' Auditoy's Responsibilities fot the Auilit of the separate Financial statemmts Our objective is to obtain reasonable assurance about whether the separate financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that anqudit conducted in iccordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these professional separate financial statemenis. As part of an audit in accordance with ISAs, we exercise judgment and maintain professional skepticism throughout the audit. we also: due to .Identify and assess the risks of material misstatement of the separate financial statements, whether fraud oi error, design and perform audit procedures responsive to those risks, and obtain audit evidence material that is sufficient *a upp.opriate to prorrid" a basis for our opinion. The risk of not detecting a misstatement resultinj iro* frura is higher than for one resulting from error, as -fraud may involve collusion, forgery,inte-ntional omissions, misrepresentations, or the override of intemal control. that . Obtain an understanding of intemal control relevant to the audit in order to design audit procedures effectiveness are appropriate in the circirmstances, but not for the purpose of expressing an opinion on the of the Foundatiort's internal conhol. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management's use of the going concern basis of accounting and, or conditions based on the audit eridence obtained, whethei a material uncertainty exists related to events If we conclude that may cast significant doubt on the Foundation s ability to continue as a going concern. to the related that a material uncertainty exists, we are required to draw attention in our auditor's report our opinion' disclosures in the separate financial statements or, i-f such disclosures are inadequate, to modify However, Our conclusio* u." burud on the audit evidence obtained up to the date of our auditor's report' future events or conditions may cause the Foundation to cease to continue as a going concern. including the . Evaluate the overall presentatioo structure and content of the separate financial statements, and events disclosures, and whether the separate financial statements represent the underlying transactions in a manner that achieves fair presentation. t tl o- T2OOII,KYRGYZSTAN, BISHKEK, I2511 TOKTOGUL STREET i PraxitvMEMBER.' TEr: +996 312 882155 - WWW.MAZARS.KG GTOBAL ALTIANCE OF ..MAZARS', LLC INOEPENDEIII FIRMS Page 2 out of3 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal conkol that we identify during our audit. We also provide those charged with govem.rnce with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Local Parhrer, Certified auditor General director of Mazars LLC, Certified auditor of the Kyrgyz Republic: Ludmila Dyakonova Auilitor Mazars Limited Liability Company (Mazars LLC) Primary state registration number: 158966-3300-000 License Ns0013 series A, issued by the Service for Supervision and Regulation of the Financial Market of the Kyrgyz Republic Location: 125 / 1 T oktogul street 7 th floor, Bishkek, Kyr gy zstan, 72001-l Mazars LLC is aKyrgyzstan firm of Mazars, an international integrated and independent organization, specializing in audit, advisory, accounting, tax, and legal services. 22 April2019 t t t o' T2OOII,KYRGYZSTAN, BISHKEK, 12511 TOKTOGUL STREET Praxitv : +996 312 882155 - WWW.MAZARS.KG llEtlSER o" Tu: GLOEAL ATTIAI,ICE OF ..MAZARS'' LLC IiIOEPENDETIT fIBMS Page 3 out of3 APAKE PUBLIC FOUNDATION CONTENTS Page AND STATEMENT OF MANAGEMENT'S RESPONSIBILITIES FOR THE PREPARATION APPROVAL OF THE SEPARATE FINANCIAL STATEMENTS 1 FOR THE YEAR ENDED 31 DECEMBER 2018 2 SEPARATE STATEMENT OF FINANCIAL POSITION 3 SEPARATE STATEMENT OF COMPREHENSIVE INCOME 4 SEPARATE STATEMENT OF CASH FLOWS 5 -12 NOTES TO THE SEPARATE FINANCIAL STATEMENTS 5 1.. GENERAL INFORMATION 2. SIGNIFICANTACCOUNTINGPOLICIES FINANCIAL REPORTING 3. APPLICATION OF NEW AND REVISED INTERNATIONAL € STANDARDS (IFRS) 8 INVESTMiNTS IN SUBSIDIARY 4. 9 CASH AND CASH EQUIVALENTS 5. 9 6. CONTRIBUTIONS AND DONATIONS BALANCE (DEFERRED INCOME) GENERALANDADMINISTRATIVEEXPENSES 10 7. 10 SOCIAL PROJECT EXPENSES 8. 11 g, RELATED PARTIES TRANSACTIONS 12 10. EVENTSAFTERTHEREPORTINGPERIOD 12 11. APPROVAL OF SEPARATE FINANCIAL STATEMENTS APAKE PUBLIC FOUNDATION FoRTHE PREPARATIoN AND STATEMENT oF MANAGEMENT,S RESPoNSIBILITIES APPRoVALoFTHESEPARATEFINANCIALSTATEMENTSFoRTHEYEARENDED 3l DECEMBER 2018 financlal statements that present fairly Management is responsible for the preparation of the separate the "Foundation') as at 31 December the financial position of Apake Public Foundation (hereinafter, for the year then ended' in compliance with 2018, and the results oi iL op"rutions and cash fltws Intemational Financial Reporting Standards ("IFRSs")' is responsible for: Lr preparing the separate financial statemenb' Management o properly selecting and applying accounting policies; in a manner that provides relevant' o presenting inforiatioo-inciuding u".or,.I,.g policies, reliable, comparable and understandable information; requirements in IFRSs o providing additional disclosures when compliance with the specific impact of particular transactions, other are insufficient to enable users