Dear Supporter,
It is with great pleasure that I present to you the FutureSense Foundation Annual Report for 2022-2023.
In the past year, the Foundation has experienced remarkable growth, increasing our net resources for charitable activities from £ 83,300 to £ 311,900. Having allowed an 80% increase in our support for rural overseas communities that we work with. While this is a fantastic achievement, we remain aware of the challenges caused by the global pandemic and are therefore committed to upholding a six-month financial surplus to ensure uninterrupted support for our mission and communities we serve.
Our values serve as the cornerstone of our work, guiding us to uphold our mission that we are passionate about. Always acting with empathy, bringing energy and integrity to our work, and continuously seeking innovative solutions to the challenges around us.
Reflecting on the incredible journey of 2022-2023, I am excited to share some key highlights from our global initiatives.
In the past year, we expanded our operations to include a new hub in Panama, extending our reach to serve more communities in need. Our efforts in seven countries yielded significant results, with our work now supporting over 11,000 primary and secondary school learners and 15,000 community members. We are committed to supporting each individual we work with in their aspirations for a better future for themselves and their communities. We are proud of our young learners reporting increased pride in their own learning and increased confidence in their own abilities. Allowing them to be more curious and seek out bigger dreams and aspirations for themselves and their communities.
Our support for the overseas learners and communities would not be possible without our committed international students travelling out to support and help deliver our programmes. Last year, we had the pleasure of hosting 1,500 international students working alongside our in-country teams, leaving their handprints on the world and growing as Global Citizens. To celebrate their hard work and commitment to our mission, a Global Citizenship Conference was arranged, where teams came together from all over the world to share their thoughts and experiences. It was truly inspiring to witness the exchange of ideas and perspectives, fostering a stronger sense of unity across borders and showcasing the impact of our collective work.
Looking ahead to 2023-2024, our focus remains on engaging more students in our programmes and extending our reach to new areas and communities where new partnerships for positive change can be forged. As we embrace the opportunities of the coming year, the Foundation will continue to work tirelessly, to leave a lasting positive impact on the world.
We are deeply grateful for your support and joining us on this mission.
Together, we can contribute to a better world.
Arvind Malhotra
Founder and Chairman
Company Reglstratlon Number: 06907320 (England and Wales) Futuresense Foundation Unaudited Financial Statements For the year ended 31 August 2023
Futuresense Foundation Contents Forthe year ended 31 August 2023 CONTENTS PAGE Company Information Directors, Report Attountanfs Report Incom& Statement Statement of Financi81 Posrtion Detailed Income Slat8m8nt
Futuresense Foundation Company Information Forthe year ended 31 August 2023 Directors Arvind MallKYta Stefano Battain Prakriti Malhotra Peter J8wtt Company number 06907320 Reglstered office Suit8 5 The Old Hall Market Pla Newbury Berkshire RG14 SAA Accountant Hill Accounting Services TIA Th8 Fri8ndty Accounta ACMACGN14 42 Lapin Lane Basingstoke RG22 4XH
Futuresense Foundation Directors. Report Forthe year ended 31 August 2023 The 1CtorS present thgr port and the unaudit Financial Ststements of U)e company for yearended 31 August2023. Prlnclpal actlvlty The principal 8¢tivity of the wmp8ny Continued lo that of . Directors ofthe company The following directors held Offi during the whde of the period.. ind Malhorta Prakrili Malhotra Stefano Battain The following directors wer8 appointed as follows.. Peter Jett (Apwlnted 15 March 20231 Statement of directors. sponSibl111*S The directors are responsible for preparing the financi315tatements in accordan with applicable law and regulations. Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepa the financial statements In a¢¢tydan¢e with applicable law and United Kingdom A¢¢ounting Standards (United lfjngdorn Generally Accept8d Accounting Prdcticel, FRS 105. Und8r company Lqwth8 directors must not approv8 the financisl statements un18SS th8y are Satisfi Ihatthey gw8 a tru8 and fsir view of the stste of 8fFairs of the cxynpany and of the proflt or bss of Ihe rnpanY for that perfod. In preparfng these financial slatem8nts, th8 directors ar8 required to., -select suitabl& accounting policie8 and th8n apply them consistèndy., -rnake judgement5 and accounting estimates that are reasonable and prudent,'and -prepare the financial statements on the going ¢on¢em basis unless It is inappropriate to presume that the c4)mpany will continue in busines5. The director5 are responsible for keeping adequate accounting records that are sufficEnt to show and ewain the cornpanI5 transactions and disclose with reasonable atcuracy 8t any time the financial position of the wmpany and enable them to ensure that the financial statements (x)mply with the Companies Act 2006. They are also resFK>n8ible for safeguarding the a8set5 of the company and hen for taking reaswable steps for the pVentIOn and detection of fraud and other iwularilies. Small company provisions This report has been prepared in accordance with the specisl provision5 for small companies wilhin Part 15 of the Companies Act 2W6. Signed on bEhalf of the board of directors ANind Malhort8 IDir8ct(Yl Approved by the board on.. May2024
Futuresense Foundation Accountant's Report Forthe year ended 31 August 2023 Accountant's Report to the b[d of directors on the preparation ofthe unsudited statutory accounts of FLrturesense Foundation for the year ended 31 August 2023. In order to assist you to fulfil yourduties underthe Companies Act 2006, we have prepared for yourapw)val the finanoal statement5 of Fuluresense Foundation for the year ended 31 August 2023. We have prepared these financial staternents based on the accouriting records. inf(Kmalion arbd explanations provided by you. We do not expr8ss any opinion on Ih88e financi81 statements. You have detemined that the tompany is exempl from the stskntory qUireMent for an audit forthis a¢rnunting year. Therefo. the financial 5tsternents are unsudited. The finanual stat8m8nts are provid8d exclusively to the dir8etors for th8 limited purFK>se mentioned abov8, and rnay not be us8d ( relied upon forany other purpose or by any other person. and we shall not be liable for any other usage or reliarbce. Hill A(xx)unling SeNices TIA The Friendly Accounta 42 Lan Lane Basingstoke RG22 4XH Date.. 29 May 2024
Futuresense Foundation Income Statement Forthe year ended 31 August 2023 2023 2022 Tumover 336,716 170,992 Cost of sales 187,6311 St8ff costs 11,0011 Other charges 1288,4171 1173,9581 PmffltllLossl 47,298 190,5971
Futuresense Foundation statement of Financial Position Forthe year ended 31 August 2023 2023 2022 F8d assets 611 611 Current 8SS8ts 44,777 15,591 Creditors.. Amounts falling du8 within one year I145,5) 1115,9131 N8t current 8SS8tsllliabiliti8sI 1100,8131 1100,3221 Totsl 8888ts188s current liabilities 1100,2021 199,7111 Creditors.. Amounts falling due mor8 than one year 147,4741 Net assetsllliabilitiesl 1100,2021 1147,1851 Capital and re5erve$ 1100,2021 1147,1851 111 General information The company is a privat8 company limited by share8 and is regist8r8d in England and Wales. Th8 address of the rls18r8d Offi is Suite 5 The Old Town Hall, Market Pla, Newbury, Berkshire, RG14 SAA 121 Average number of employees During the year, the average number of employ88s induding dir8Ctorwas O12022..01. For the year 8nding 31 August 2023 the company was 8ntilL9d to 8X8mption under s8ction 477 of the Companies Act 2006 relating to stnall cornpanies. The members have not required the company lo obtsin an audit in a¢¢ordan¢e with se¢lion 476 of the Companies Act The directors a¢knowledge their responslbllles for o)mplylng with the requlremenls of the Actth spe lo a¢¢ounling records and th8 pr8paration of accounts. These account5 have been prepared in aGG0[dan with the rnicro-entty provislOn5 of the Companies Act 2006 and FRS105, The Financial R8POrting Standard applicable to th8 Micro*ntilies R8gim8. Approv8d bythe board of directors on 29 May 2024 and gned on behalf of the board by.. ind Malhorta IDir8ctorl Company registratlon numLtr. 067320
Futuresense Foundation
Statement of Financial Activities
For the year ended 31 August 2023
| Resources from Generated funds Challenge Events Gift Aid Group support/donations Schools /colleges donations Total resources generated Event Costs Net resources available for charitable activities Charitable Activities Education Initiatives Health Livlihood support Total Charitable Activities Fundraising support Governance Total resources Used Net Resources generated |
2023 2022 £ £ 37,207 110,599 15,319 8,645 192,668 51,748 91,522 336,716 170,992 24,818 87,631 311,898 83,361 160189 87,081 57210 31,100 11442 6,220 228,841 124401 24,652 38,173 11,108 11,384 264601 173958 47,297 -90,597 |
2022 |
|---|---|---|
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 2023
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