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 2020-21 and dedicate the same to all our volunteers and supporters without whom none of this would be possible.
It was a busy start to the year and as we approached the end of the first quarter we were beginning to see the light at the end of the long Coronavirus tunnel !
With the huge drive towards vaccinations everywhere in the world, there was more optimism around the end of travel restriction and there were signs that we would be able to emerge from lockdowns in the coming months. From the charity`s perspective we felt a lot more certain that we would have student groups from the UK travelling overseas toward the end of summer.
This enabled us to plan our activities and start to get more confidence on what our cashflow would look like over the coming months. One of our clear priorities was to understand the likely challenges and risks in our still fragile cash position . This was the result of having had received no donations for over a year and having to use reserves to continue to support a number of key Foundation projects.
We then developed a number of potential options to start to bebuild the charity. It was an opportunity for us to look more widely at the sector, understand how the foundation is positioned and perceived by its beneficiaries and think about our strengths and weaknesses. This work culminated in a new plan for the future which the trusttees are confident will allow the charity to grow and thrive.
Our continued focus towards achieving the agenda outlined by the UN Sustainable Development Goals remains our underlying objective. Despite the many difficulties which Covid 19 created , I feel absolutely convinced, as a team working together, we can build a fairer world!
It is good to reflect that since FutureSense was established in 2009 we have had over 5,000 volunteers work with our programmes overseas, not only making an impact on the lives of numerous communities but hopefully coming back home with a renewed sense of mission to continue to play a role in tackling some of the global challenges and making the world a better place.
As I write this for our Annual report , we are well into the next financial year and I am delighted to say that our intial plans and projects are starting to bear fruit and our results are already looking a great deal better.
A huge thank you to everyone involved in the charity for your hard work and dedication during what has been a very difficult time for everyone .
With 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 Tegistrati¢)n number.. 6g)7320 Fuluresense Foundation Company limited by8uarantee Unaudlted financial statements fi>r year ending 31 August 2021 AB4Z20C9 2810sr2022 COMPANIES HOUSE A23
Contents Futuresense Foundation Pages Direttors and other information Direttors report Statement of comprehensive income Statement of financial position
Directors and other Infomi*ion Olrertors P Malhotra A Malhotra R G StOTey Acox S Battain S Rogerson Company nurnber 6907320 ezistered office Unit 2, UffcottFarm Uffcott Wiltshire SN4 9NB
Dlrertots report Year ended 31 August 2021 The diredors present their report and the unaudited financial statements of the companv. for the year ended 31 August 2021 Olrerto The dire¢tars WI ser¥ed the company during the year were as follows". P Malhotra A Malhotra G Stoiey Acox S Battain S Ro8erson Small company prov5slor This report has been prepared in accordance with the provisions applicable to companie5 exemption entitled to the small companies This report VRS approved by the board of directors on 26 May 2022 and signed on behalf of the board by= A Malhotra Director
Statement of comprenslve Income year ended 31 Augurt 2021 2021 2020 Totsl turnover 116256 Total cost of charitable activities 113.386 127,357 Administrative expenses 11.645 12.980 Totsl expenses 125,031 140.377 Operatlng loss 132.747) (24.0811 Loss for the year and total 132.747 124.081) All the actNlties of the company are from continuing Operatn5
FUresenSe Foundation Staten*nt of Financi41 position 31 August 2021 2021 2020 Current Assets Cash at bank and in hand 8.809 31.509 Creditors . amounts falling due within one year 15.397 5,350 Net current assets/liabilltles (6.588) 26,159 Long term liabilitie5 150.IXK)) 150.0001 Net Assels (56.588) 123.8411 itsl and Re5er¥es Profit and loss account Blf reserves C/f reserves {32.7471 123,841) {56.5881 124.0811 240 123,841) For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Att2(K16 relating to small compan$ Dlrertors respMslbllilies The members have not required the cornpany to obtain an auditof its financial statements for the year in question in accordance with sectron 476 The direttors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements These financial statemnts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
These finanoal ststements were apwoved by the board ofdirertors arKI authorised for issue on 26 May 2022 . and are signed on behalf of the Ix)ard by: A Malhotra Director Company re8iStration number: 67320
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 2021
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:
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To examine the accounts (sec.43(3) of the 1993 Act)
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To follow the procedures laid down in the general Directions given by the Charity Commission (sec.43(7)(b) of the 1993 Act)
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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:-
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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
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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