FutureSense Foundation Town Hall, Market Place, Newbury, Berkshire, RG14 5AA Tel: 01635 285669 FutureSenseFoundation.org Dear Supporter, It is my pleasure to present the FutureSense Foundation Annual Report for 2019-20 and dedicate the same to all past and future volunteers and supporters without whom none of this would be possible. This report will be rather short, as with the prospect of a very exciting year ahead in 2020, the world was hit with a pandemic and our operational plans were completely changed . The Coronavirus caused a number of lockdowns in the UK and travel around the world stopped. We were not able to send any volunteers to our overseas projects. The foundation used this time to attract a number of new trustees and advisers to strengthen our Board . We undertook some short term planning to enable us to provide as much virtual support to our overseas operations as possible. We were able to use very limited funds to help where most urgent. We have been able to retain some key staff overseas and we all look forward to better times when our volunteers will again be able to travel to our overseas hubs and continue the invaluable work helping those disadvantaged individuals and communities. Best wishes Arvind Malhotra Founder and Chief Executive The FutureSense Foundation is a registered charity (Charity No. 1132101). It is a company limited by guarantee and not having a share capital. Incorporated in England and Wales, company number 6907320 having a registered office Unit 2, Uffcott Farm, Wiltshire SN4 9NB. CompAny Ilmlted by guafantse 31 Auou•t 2020 wll 'AA8ufEJ5* 2WV2021 COMPANIES HOUSE A07 #310 FuiureS•nM Foun& Company limlt•d by 9uarant•• Directors and other infNffo1 Directors report Stateffffjnt of financ￿1 Notes to Ihe fin¥￿121 slateffents Fuluf•S•ng• Found•ll¢ Company Ilmil•d by guar*rt•• A Mahotra R G Storey Acox S Battain Company numb•f 6907320 R•gtst•rod offi Unit 2 Uffcott Farn ltshlre SN49NB FutyrnS•nM Found•llon Company limit•d by guarnnte• DlrKtors report Ymr •nd•d 31 August 2020 The directors present tr*ir repryt and ts unwdiied finwKial Staten￿ts of the c(ryny frx the year ended 31 August 2020. The directors who Ser￿ the ￿MpanY year*ere as folkws: P Malhotra A Malhotra RGSi This report has t￿￿ prepared ￿ ￿e0rd￿Th wilh the w0vts1(￿ appl￿ble to COffp￿leS entitted lo the small Companies exempl￿n. This report Yds apwoved by ts trThrd ofdKerkns on............................. .4. nd sNJr*d on beh4f oftho board A Malhotra Director Company limlt•d by guarnnt•• Ymr onded 31 August 2020 2019 Tumover Cost of sales 116.256 245.621 {83.924) 116.256 181.697 Administr*ive expen 1140.337) (171.8921 Operatlng10•• {24.081) (10,195} (24.081) (10.195> Tax *Jn loss Loss for th• financial year and total (24.081) 110,1951 FuturnSon8• Found•llon C¢)mpary limit•d by guarnnto• St*tsm•nt olflnanelal posltlon 31 August 2020 2019 Debtors Cash at bank and in hand 563 31.509 31.509 563 Cr￿lt0￿. amounts falllng d withln on• yfjar (5,350) {323) N¢1 •M•ts 26.159 240 Totsl a80ts le88 ¢Un•nt HabHth8 26,1S9 {50,(KK)) 240 Long t•mi Ll•blllll (23,841) 240 Capltal and re8orv•s Profit arnl loss account {24,081) 240 <10,195> BIF Rts•r¥•8 10.435 (23,841) 240 For the year endww 31 August 2019 the TKdS enliU*l to exeTrykn from audit under seclion 477 of the Compantes Aci 2006 relat￿9 to srnll COrrpan￿. Dlrgxrys resp)nSib￿lItes. . The members IHve not required Ihe coffl￿ kn obtain an audit of its financial statements for the year in question in accl￿dance with geclhM 476. . The diredor5 a¢kno&*4edge theÉr responsib￿lbe$ for coffptying with the requwmlts of th& Acl with fEspect to accounting records and the wepwakn of fKwKial Strte￿n subject to the small Companies. regime and with FRS 102 The FinaKial Rep￿ng Slandayd applicable in the UK ReN*lc of I￿ntt. Comp•ny lim1t￿ by guarnnts• 31 August 2020 These fina￿la1 slateffents were apWO￿l by the brwd of and for issue on. and are signed on behalf ofthe board lry.. A Malhotra 'rector Company regi5trntK)n number. 6907320 Paqe 5 Company limlted by guarant•• Notes to Ihellnanclal Stat0￿￿￿16 Year Ond￿ 31 August 2020 G•n•r•l infom The comwy is a wivate c4Xt¥•)y limiw ty guaranke. reglstered in ENJland. The address of the registered offico is Unit 2 Uffcott Fami. LIff¢￿ Imllshire. SN4 9NB. These financial staten*nts have been prepared in cornptiano the proviwns of FRS 102. SKtion 1A, Tre Financial ReFrfJrting Starttjard appl&qb* In the UK and Republ￿ of Ireland.. Ae¢ountlng ￿￿1•$ B•sls ol prnp•rnlion The financial statements have been prepared on the hisknical cost basis, as modffj￿d by the revaluation of certain financial assets aTrJ liabili￿$ aid investffert properties measured * fair value through profit or loss. The financHI Staternents are prepared in •. whth is furtlK)nal currew oftt* enbty. Tumov•r Turnover is measured atthe fairvalue of the considernkn received or rec4ivable lor goots SUppl￿d and $8Thices rendered, net ofdtscounts aThJ Value Added Tax. Revenue fr(m Ihe sale of goods 6 recognised when the Signif￿ant iisks and rvwards of ownership have transferred to the buyer lusualty on despalrtb of the goods)" the affK)unt of revenue Can be ffftasured reliabky", it is wobal￿e that the associated econorntc ben8fft5 will I1￿ to the entity" and the costs incurred or to be incuryed in respect of the tran&YlK)ns ￿ be nwsured reliabty. Taxatlon The taXal￿n expense represents the a99regate a￿Unt of CU￿ent arvJ defe￿ed tax recognised in the reporting peiiod. Tax is recognised in the St*n￿lt of ¢¢ry￿henSIVe irwnE, except to the extsnt that it relates to items recognised in other comprehensive income or directy in capital aThl reseThes. In this Current tax is recognised on taxable profft for the current and past periots. Current lax is measured at the amounts of tax exFecied to pay or recover using the tax rates arKI jaws that have been enacted or substartivety enacted at the rep• date. Deferred lax ￿ recognTrsed in respect of all timing differences at the repo￿n9 date. Unrelteved tax ts5es and other deferred tax assets a￿ re(a)gnised to the extent that rt is wobable that they will ￿ re￿Vered against the reversal of deferred tsx liats'lit*s or othef Ilrture taxable profits. Deferred tsx is ff*8su￿d using the tax rntes and Im that have been enacted or subslantivety enactsd by the reporting date that e experted to appty lo the r￿er$al ofthe tinmng differen￿. FuturnSOn￿ Founda C(mipany Ilmlt•d by guarantee Comp•ny limit￿ by gu•rant¢• Nots8 to th• flnanelal stat•ffl￿ (contlnu•d Year onded 31 August 2020 Financial instrum•nts A financral asset or a finan¢Kql I￿￿'Ity is rec4gnised onty when tt* coryany bec0ft￿ a party to tr contractual provisions of the instrument 8asi¢ finan¢Kql Instrun￿ts are initialty rerA)gnised at the trar6*ion wice. unless the arrangement constitutes a financing trans&tKJn. where il is reCognis￿l at the present value of the futswe payments discounted at a market rate of interest for a &miLqr debt instrurn8nL Debt instruments are subsequenty m&asured at affvJrt￿d cost Ithe￿ inveslments in non-conve￿.bk weference sha￿5 and r￿￿rtIable ￿dinary sh¥es ￿ welerence Sla￿ a￿ publi¢ty tr*led or thar lair value Can Other￿ be measured Tel￿9b￿, the investment is subsequenty measured at fair value with changes ￿ fair value recognised in wofft or loss.All other such investfflenis are subsequenty measured at cost less inw)ainnent other finaryial instruments, W￿UdIng dwlvatr￿. are Init￿1￿ rec4Jgnised at fa.r valu8, unless payment for an asset is deleThd beyond norn￿1 bu&ness terwts or financ£d at a rate of interesithat ts not a market rate, in whth case the asset is ffwsured at tr* wesent value of the fvture payw¢nts dis¢wnled at a market rate of interest for a similar debt Nistrument. Other financial instrwnents are sub5equenty measur&l at frdir vak*. with any chry recogni$8d in profft ¢y km, wilh the excepiTh of l￿dgIng Instrun￿ts in a dwnated hedging relationship. Fin￿¢181 assets that are measured at cosl or amrtised o)st are revtewed for objethe eviden￿ of impairment at the end ofeach re￿ting date. Ifthere is (￿jectiVe evkdence of impai￿ent an impaiment loss is recognised in wofft or k*s imn*d•. For all equity instruments regardless of significAnce. and other finanual a￿ts that are indNKlually significanl these are assessed indNiJualty for Impairn￿nl Other finan¢i* assets or eilher assessed indivtdualty or grouped on the basis of similar uedit r￿k charakniststs. Any reVe￿al5 of ImpainT￿lt are reo)gnised in Fyofft k)ss In￿￿dIatelY. to the extent that the reversal does not result in a carying an￿nt of the finanual asset that eX￿ed5 the carying amount would have been had the inyafftwil not prevN)usly been recognised. Umltod guarantee Tre corypany has chanta￿e stalus and is hnxtaj by guarantee. 2020 2019 Crndliorn: 2020 2019 AjTr￿nts falling due wiihin one year Long tenn loans 323 50.oc Stat•ment of Financial A¢tlvftle8 forth• yoar •nd•d 31 August 2020 2020 2019 Funds Fund• Tolal Total Income contributi￿ from volunteers Contn"buivJn from Futuresense 97.182 4,677 10.997 97.182 8.077 10,997 181.037 20,075 Total rnsowc•s genernt•d Less: Event Costs 112.856 116,256 245,621 {83.924) 112￿58 116.256 181.697 Charitabh Activilles Education inits"ats"ves 84,787 32.193 6.977 88,187 32,193 6,977 111,337 40,644 8,808 Health and livelihcM)d support Child wemare 123.957 127.357 160.789 Govemance costs 6,292 6,292 6,688 11,103 Fundraising Supwrt Total resowces uged 136.937 140,337 171.892 Net re%>urces genernted Funds brought forward (24.081) 240 {24.081) 240 <10.1951 10.435 Funds ¢arri•d fom I23￿1) 123,841) ## **Independent Examiner’s Report to the Trustees (Executive Committee) Futuresense Foundations Company limited by guarantee** I report on the attached accounts of the association for the year ended 31 August 2020 ## **Respective Responsibilities of trustees and examiner** The Association’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required (under section 43(2) of the Charities Act 1993) for this year and that an independent examination is needed. It is my responsibility: 1. To examine the accounts (sec.43(3) of the 1993 Act) 2. To follow the procedures laid down in the general Directions given by the Charity Commission (sec.43(7)(b) of the 1993 Act) 3. To state whether particular matters have come to my attention. ## **Basis of Independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of accounting records kept by the association and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** In connection with my examination no matter has come to my attention:- - 1 which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records and to prepare accounts which accord with accounting records and comply with the accounting requirements have not been met: or - 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **JESSICA ROACH CHARTERED ACCOUNTANT 42 LAPIN LANE BASINGSTOKE HAMPSHIRE RG22 4XH** ## **17 August 2022**