Company Registration No. 06706823 (England and Wales)
Registered Charity Number 1127893
UKUTHEMBA FOUNDATION LIMITED (a company limited by guarantee)
Trustees Report and Accounts and Independent Examiner's Report
FOR THE YEAR ENDING 30 SEPTEMBER 2020
UKUTHEMBA FOUNDATION LIMITED
COMPANY INFORMATION
Directors
Trustees
Miss Penelope Briant Miss Kim Killeen Mr Nicholas Kinder Miss Penelope Briant Miss Kim Killeen Mr Nicholas Kinder
Company number 6706823 Registered charity number 1127893 Registered office 42 Kensington Mansions Trebovir Road London SW5 9TQ
UKUTHEMBA FOUNDATION LIMITED
CONTENTS
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| Page | |
|---|---|
| Trustees’ Report | 1-3 |
| Independent Examiners Report | 4 |
| Balance Sheet | 5 |
| Statement of Financial Activities | 6 |
| Including Income and Expenditure Account | |
| Statement ofCash Flows | Z |
| NotestotheFinancialStatements | 8-10 |
UKUTHEMBA FOUNDATION LIMITED
TRUSTEES REPORT
FOR THE YEAR ENDING 30 SEPTEMBER 2020
The Trustees and Directors present their report and financial statements for the year ended 30 September 2020.
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated on 24 September 2008 and governed under its Articles of Association. The company was registered as a charity on 2 February 2009. The Directors of the company are also charity Trustees for the purposes of charity law and under the company's articles. The charity changed its name from Building Blocks Foundation Limited to Ukuthemba Foundation Limited on 8th February 2013.
The Trustees are familiar with the work of the charity and take an interest in the beneficiaries including visiting the children's home. They all give their time voluntarily and receive no benefits from the charity. No expenses have been reclaimed during the year.
Whilst no vacancy currently exists, the charity would seek to appoint a new trustee by application to the Board of Trustees and candidate interview, assessment of their dedication to the charity objectives, proven skills in leadership and donor engagement strategies, and their understanding and experience of trustee governance and financial management. Induction and visiting the children’s home would be a training requirement.
Charity Objectives
a) To support the setting up and maintenance of children's homes in Southern Africa for the purpose of:-
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i) the prevention and relief of poverty
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ii) to meet the educational needs of the children
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iii) to promote their physical and mental health through appropriate support and care iv) the provision of facilities for abandoned children v) the creation of a loving and stable environment to enable the children to thrive
b) To further such exclusively charitable purposes as determined by the Law of England and Wales for the benefit of the public as the Trustees in their absolute discretion think fit.
Activities and Achievements
The principal activity of the company is that of a charitable foundation collecting donations for distribution to good causes for the public benefit. The Trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to the guidance published by the Charity Commission on public benefit. The main aim and objective of the charity is to provide funding to assist in the running of a children's home, Ukuthemba Organisation, which has changed its name from Building Blocks Children's Home.
Donations were received from businesses and personal benefactors during the year. Due to the exceptional circumstances of a global pandemic, no charitable event could take place, and support was obtained from loyal supporters of the charity and an application was made to the Aimwell Charitable Trust.
Financial Review
The principal funding sources for the charity are by way of public donation with a view to making short term donations for the public benefit. No investment of funds are envisaged and there is no plan to retain significant reserves. The risk assessment conducted by the Trustees conclude there to be a minimal working capital requirement to maintain the activities of the company due to volunteer management making most of the funding available for distribution. The cash balance at the year end is £541 having donated funds raised in the year to support the children's home.
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UKUTHEMBA FOUNDATION LIMITED
FOR THE YEAR ENDING 30 SEPTEMBER 2020
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TRUSTEES REPORT CONTINUED
Financial Review Continued
The Trustees are confident that the Charity remains a going concern in the following year. The defecit on the balance sheet of £(11,590) arose from a short term interest free loan from the Director, Kim Killeen, to cover costs and to assist in supporting the charity's beneficiaries. A financial improvement is expected following the end of restricted opportunites due to the pandemic.
After the balance sheet date , the outbreak of COVID-19 virus continued, restricting the charitable activities. Due to the nature of most fundraising events, when participants invite guests to an evening of entertainment, and other social initiatives, the restrictions closing venues and the requirement of social distancing has drastically curtailed the ability of the charity to raise funds. The trustees are aware that the future of the charity may be in doubt and have continued fund raising appeals to foundations that support good causes, along with on-line appeals to supporters.
Directors
The following Directors have held office throughout the year and are Trustees.
P Briant K Killeen N Kinder
Registered Office
42 Kensington Mansions, Trebovir Road, London SW5 9TQ
Charitable Donations
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2020 2019
£ £
During the year the company made the following payments:
Charitable donations 39,400 57,404
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Statement of Trustees’ Responsibilities
The Trustees, who are also the directors of Ukuthemba Foundation Limited, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
in preparing these accounts, the Trustees are required to: - select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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UKUTHEMBA FOUNDATION UMITED
TRUSTEES REPORT CONTINUED
FOR THE YEAR ENDING 30 SEPTEMBER 2020
Statement of Trustees’ Responsibilities Continued
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report is prepared in accordance with the small company regime (Section 419({2) of the Companies Act 2006.
On behalf of the Board of Trustees
COL | i Killeen Trustee ate D406]
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UKUTHEMBA FOUNDATION LIMITED
I report to the trustees on my examination of the financial statements of Ukuthemba Foundation Limited (the charity) for the year ended 30 September 2020.
Responsibilities and basis of report
As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not subject to audit under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 that accounting records were not kept as required by section 386 of the Companies Act 2006; or
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De that the financial statements do not accord with those records; or
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3, that the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; or
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- The financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Michelle Westbury FCCA
M D Westbury FCCA West & Berry Limited Mocatta House Trafalgar Place Brighton BN! 4DU
29 June 2021
As
‘UKUTHEMBA FOUNDATION LIMITED
AS.AT 30:SEPTEMBER 2020
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2020 2019
Debtors 7 261 41,498
‘Cash at bank.anid in hand 541 8,538
742 20,036
Creditors: amounts falling due withing one year 8 12,332 22,196
‘Net current assets (11,590) (2,160)
Total assets less current liabilities (13,590) (2,760)
(Deficit) /Unrestricted funds 9 (11,590) (2,160)
Total-reserves (11,590) {2,160)
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‘The company is entitled to the exemption from the audit requirement contained in section 477 ofthe Companies Act 2006, for the year ended 30 September 2020. No:meniberof the company has deposited a notice, pursuant to sections 476 and.387, requiringan auditof these accounts.
‘Thetrustees acknowledge their responsibilities for ensuing that the-charity keeps accoutiting records which comply with section 386 ofthe Act-and for preparing accounts which give.a true and fair viewof the state of affairs.ofthecompany as-at the end of the financial year and ofits incoming.resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of accounts,section 394 so and 395 far as and applicable which otherwise to the companiy. complywith thie requiretents ofthe CompaniesAct 2006 relating: to ‘These accounts have been prepared ih accordaricé with the provisions applicableto companies subject to the Small Companies’ regime.
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‘The accounts wereapproved by the Trustees on 29 June. 222 |
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,
K Killeen P Biiant
Trustee Trustee
Company Registration No. 06706823
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UKUTHEMBA FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDING 30 SEPTEMBER 2020
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|---|---|---|---|---|---|---|---|---|
|SS|
|Unrestricted|Restricted|Endowment|Total|Total|
|Funds|Income|Funds|2020|2019|
|Notes|Funds|£|£|
|Income|and|endowments|
|Donations|and|legacies|31,464|0|0|31,464|9,322|
|Charitable|activities|fe)|0|0|0|98,378|
|Total|income and|endowments|2|31,464|0|0|31,464|107,700|
|Expenditure|
|Expenditure|on|raising funds|232|(6)|0|232|687|
|Expenditure on|charitable|activities|40,662|0)|0|40,662|97,178|
|Total|expenditure|3|40,894|(é)|6)|40,894|97,865|
|Net income / (expenditure)|9|(9,430)|0|0|(9,430)|9,835|
|Total funds|b/fwd|as at|1 October 2019|(2,160)|0|0)|(2,160)|(11,995)|
|Total|funds|c/fwd|as at 30 September 2020|(11,590)|fe)|0|(11,590)|(2,160)|
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derived from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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UKUTHEMBA FOUNDATION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDING 30 SEPTEMBER 2020
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|||||||||
|---|---|---|---|---|---|---|---|
|2020|2019|
|Notes|£|£|£|£|
|Cash flows from|operating|activities|
|Cash|generated|from|operations|10|(7,997)|7,071|
|Net Cash|flows from|investing|activities|6)|i)|
|Net Cash flows from financing|activities|fe)|)|
|Net|increase /|(decrease)|in cash and cash|equivalents|(7,997)|7,071|
|Cash and|cash|equivalents|at|beginning|of year|8,538|1,467|
|Cash and|cash|equivalents|at end|of year|541|8,538|
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UKUTHEMBA FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 SEPTEMBER 2020
1 ~—s Accounting policies
- Ukuthemba Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 42 Kensington Mansions, Trebovir Road, London SW5 9TQ.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and ‘Accounting. and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accourdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)' (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below:
1.2 Going Concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
The deficit on the balance sheet at the year end of £(11,590) is due to a short term interest free loan from a Director, Kim Killeen, with the expectation of repayment as soon as charitable activities are able to be resumed.
1.3. Charitable Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other puposes.
1.4 Incoming resources Income represents donations received as a result of the charity's activities. Voluntary income is received by way of donations, gifts and fund raising activities, and is included in full when receivable.
- 1.5 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner fees and costs linked to the strategic management of the charity.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life.
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UKUTHEMBA FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDING 30 SEPTEMBER 2020
1.7 Financial Instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Intruments' and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to reailse the asset and settle the liability simultaneously.
2 __— Income received during the year
| __— IncomeIncome received during the yearthe yearyear | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | 2020 | 2019 | |
| Funds | Funds | Total | Total | |
| £ | £ | £ | £ | |
| Donations | 31,464 | 0 | 31,464 | 9,322 |
| Charitable Event | 0 | 0 | 0 | 98,378 |
| 31,464 | 6) | 31,464 | 107,700 | |
| Included in Expenditure | ||||
| 2020 | 2019 | |||
| Total | Total | |||
| £ | £ | |||
| Charitiable Donations made duringthe year | 39,400 | 57,404 | ||
| Fundraising event management | 1,194 | 40,161 | ||
| Governancecosts | 300 | 300 |
3 Included in Expenditure
Charitable donations of £39,400 in the year were made to Ukuthemba Children's Home a South African charity that runs small homes for orphans staffed by house parents, providing the children with a home environment.
4 Independent Examiners Fees
Independent examiners fees
| 2020 | 2019 |
|---|---|
| Total | Total |
| £ | £ |
| 300 | 300 |
5 Trustee Remuneration & Related Party Transactions
Neither remuneration nor personal expenses were paid to the Trustees or Directors during the year. The Trustee, Kim Killeen, has loaned the company £11,732 (2019: £16,789) by paying for event running costs privately. The expenditure related to printing and postage costs and event running costs for a past charitable event, for which a short term interest free loan was made to the charity.
- 6 Taxation
As a charity, Ukuthemba Foundation Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
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UKUTHEMBA FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDING 30 SEPTEMBER 2020
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|---|---|---|---|---|---|
|7|Debtors|
|2020|2019|
|Total|Total|
|£|£|
|Trade|debtors|0|10,870|
|Other|debtors|201|628|
|201|11,498|
|8|Creditors:|amounts falling|due within one year|
|2020|2019|
|Total|Total|
|£|£|
|Trade|creditors|and|accruals|600|907|
|Other|creditors|11,732|21,289|
|12,332|22,196|
|9|Statement|of movements|on|profit and|loss account|
|Profit|and|
|Loss|Account|
|£|
|Balance|b/fwd|01|October 2019|(2,160)|
|Profit|/|(Loss)|for the|year|(9,430)|
|Balance|as|at|30 September 2020|(11,590)|
|10|Cash|generated|from|operations|
|2020|2019|
|Total|Total|
|£|£|
|Surplus/|(deficit)|for the year|(9,430)|9,835|
|Movements|in|working|capital:|
|(Increase)/decrease|in|debtors|11,297|(11,498)|
|(Decrease)/Increase|in|creditors|(9,864)|8,844|
|(Decrease)/Increase|income|in|advance|0|(3,425)|
|Decrease/(Increase)|expenses|in|advance|0|3,315|
|Cash generated|from|operations|(7,997)|7,071|
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11 Post Balance Sheet Events
The global pandemic continues to have a significant impact on the chairty but although the effect on the charitable fund raising activities of the charity has been prohibitive, ongoing initiatives of appeals to foundations that support charitable endeavours and longterm supporters has allowed the charity to remain a going concern.
N,NSSSSSS SSS SSS,
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UKUTHEMBA FOUNDATION LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDING 30 SEPTEMBER 2020
This schedule does not form part of the financial statements
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Charitable expenditure | ||
| Charitable donations | 39,400 | 57,404 |
| Event management | 587 | 29,786 |
| Event entertaining | 344 | 7,829 |
| Event travel | 0 | 1,764 |
| Accountancy | 300 | 300 |
| Sundry | 13 | 13 |
| Online services fees | 232 | 687 |
| Printing, postage and stationery | 18 | 82 |
| 40,894 | 97,865 |