Registered number: 08519901 Charity number: 1152422
THUMBPRINT FOUNDATION
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 - 9 |
| Notes to the Financial Statements | 10 - 17 |
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
Trustees Gary Richard Essam Reverend Jerome Devakumar Joseph Mrs Grace Machelle Joseph Dr Marie Anne Essam Dr Sharon Lynn Stone Company registered number 08519901 Charity registered number 1152422 Registered office 131 Lewes Road Brighton BN2 3LG
Page 1
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the Thumbprint Foundation for the year 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Our objectives
The aims and objectives of the Thumbprint Foundation are set out in the charity’s trust deed and are summarised as follows:
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To advance the Christian faith,
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To further Christian education and,
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To relieve persons who are in conditions of need, financial hardship or sickness
Thumbprint Foundation fulfils its objectives through three primary initiatives:
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The Well Church; a Church comprised of regular members and open to the public
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Training and education; Christian and non-Christian training provided in Brighton and Hove, the UK and the World
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Partnering with, and providing services to, other charities with aligned objectives including but not limited to Fresh Start Community Association (a community organisation, founded by the founders of Thumbprint Foundation, focussed on improving social cohesion in the local area and also open to the public)
These objectives, and our resulting activities to achieve them, have been for the benefit of both the attendees of the respective groups and the wider public.
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Activities and achievements
The last year has been a year of God demonstrating His faithfulness to us. As covid restrictions have subsided a “new norm has developed for us as a church body, as we have continued to learn and grow in our Christian faith and Christian walk in this unprecedented time.
Highlights of our activities and achievements include:
Covid response support: As a church family we went through the pandemic with some members placed on furlough (e.g. those in the hospitality industry), other members having their employment contracts ended and all members experiencing the overall broader effects of the pandemic becoming through one (or more) of physical, emotional, mental and/or financial stress.
As a trust we have supported families and individuals on a regular basis with financial, material and emotional support.
We are continuing to work long term with individuals and families who live with the continued consequences that the restricted interaction has brought to their lives . Dealing with the psychological effect that the pandemic has had on individuals , families and community in the emotional , spiritual , physical and psychological realms.
Financial giving : In addition to strengthening the capacity of those on “relationship with us “ as a church community, we have ensured any funds received via our “alms giving” was allocated appropriately to the individuals and families in need. Furthermore, we have continued to support overseas ministries and ministers in Myanmar, Sri Lanka, Ireland and America.
Church meetings and growth : We have continued our congregational meetings on zoom and our regular prayer phone line has continued through each day. We have seen our congregation increase and as part of church life, have had baptisms, weddings and funerals.
We have since covid restrictions have lifted maintained weekly congregational meetings and social interaction through the after church meals.
Training and development : The provision of external training has continued via zoom which enabled a number of overseas attendees to join. For example, trainings have been provided for United Nations (UN) staff on two occasions which saw delegates from Sweden, Switzerland Canada, Singapore, Somalia, Sudan, Dubai, America, Germany, Italy, and the UK join via Zoom.
We have also facilities and run in person meetings at 131 Lewes Road .
Updated Policies and Procedures: As trustees we have continued to reviewed and updated our training for Child and vulnerable adult protection and health and safety (including covid 19 management) policies and procedures.
Further community engagement with other groups: We have continued to partner with Fresh Start Community Association and have seen the community engagement increase to 19 individuals / families in the Bexhill/ Eastbourne / Hastings area.
Involvement with the Air Training cadets and this has extended to the ATC affiliated with Ark Alexandra Academy.
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Property and accommodation : Thumbprint Foundation secured accommodation for the ministers in Hastings and also secured the transfer of ownership of 131 Lewes Road from Connaught Christian Ministries (with Thumbprint Foundation as custodians) to Thumbprint Foundation as owners of the premises.
An investment of £375K has been “invested “ into “The wilderness” (109 Hastings ), for “the manse in which Jerome , Machelle and family reside. The building has also been invested in by means of updated the internal , external structures along with grounds
Plans for future periods : We wish to continue to build on the achievements of this year and expand our community engagement and outreach. The refurbishment and redevelopment of 131 Lewes building will be a key factor in expanding and improving our ability to provide services and engagement the community. We have made some initial progress in the refurbishment and redevelopment planning for 131 Lewes Road and have engaged a team of architects and planners. We are now looking to secure a mortgage in order to expand and redevelop the 131 building.
Page 4
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
Thumbprint Foundation is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 31 October 2023 and signed on their behalf by:
Page 5
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent Examiner's Report to the Trustees of Thumbprint Foundation ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and Basis of Report
As the Trustees of the Company (and its 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 accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts 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.
Independent Examiner's Statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts 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 (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 31 October 2023
Kolade Andrew Alli ACMA
10 Gatcombe Gardens West End Hampshire SO18 3NA
Page 6
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net (expenditure)/income Transfers between funds 9 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 5,666 5,666 60,186 60,186 (54,520) - (54,520) 151,254 (54,520) 96,734 |
Unrestricted funds 2023 £ 187,587 187,587 184,890 184,890 2,697 43,137 45,834 1,302,718 45,834 1,348,552 |
Total funds 2023 £ 193,253 193,253 245,076 245,076 (51,823) 43,137 (8,686) 1,453,972 (8,686) 1,445,286 |
Total funds 2022 £ 271,415 |
|---|---|---|---|---|
| 271,415 | ||||
| 224,066 | ||||
| 224,066 | ||||
| 47,349 - |
||||
| 47,349 | ||||
| 1,406,623 47,349 |
||||
| 1,453,972 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 17 form part of these financial statements.
Page 7
THUMBPRINT FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 08519901
BALANCE SHEET AS AT 31 MARCH 2023
| Fixed assets Note Tangible assets 6 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 8 Net assets excluding pension asset Total net assets Charity funds Restricted funds 9 Unrestricted funds 9 Total funds |
3,456 3,456 (1,100) |
2023 £ 1,878,930 1,878,930 2,356 1,881,286 (436,000) 1,445,286 1,445,286 96,734 1,348,552 1,445,286 |
65,855 65,855 (650) |
2022 £ 1,878,930 1,878,930 65,205 1,944,135 (490,163) 1,453,972 1,453,972 151,254 1,302,718 1,453,972 |
|---|---|---|---|---|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 31 October 2023 and signed on their behalf by:
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 08519901
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023
The notes on pages 10 to 17 form part of these financial statements.
Page 9
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Thumbprint Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £1k or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold property -
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. Accounting policies (continued)
1.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 11
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 2. Income from charitable activities | |||
|---|---|---|---|
| Restricted | Unrestricted funds Total |
Total | |
| funds | General 2023 |
2022 | |
| £ | £ £ |
£ | |
| Donations | 0 | 148,920 148,920 |
226,510 |
| Gift Aid tax reclaimed | 0 | 37,391 37,391 |
34,573 |
| Other Income | 0 | 1,276 1,276 |
10,332 |
| Restricted Income | 5,666 | 0 5,666 |
0 |
| 5,666 | 187,587 193,253 |
271,415 |
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Expenditure on charitable activities
| Restricted | Unrestricted funds Total Total |
|
|---|---|---|
| funds | General 2023 2022 |
|
| £ | £ £ £ |
|
| Administration | 0 | 1,130 1,130 540 |
| Bank charges | 0 | 421 421 657 |
| Birthday card ministry | 0 | 120 120 120 |
| Building repairs and Maintenance | 32,752 | 0 32,752 40,080 |
| Cleaning | 0 | 2,385 2,385 2,665 |
| Giving and other ministry costs | 0 | 50,233 50,233 73,105 |
| Health and Safety | 0 | 1,128 1,128 686 |
| Honorarium | 0 | 66,000 66,000 34,000 |
| Independent examiner's fee | 0 | 1,100 1,100 650 |
| Insurance | 0 | 12,202 12,202 11,210 |
| Legal and professional fees | 0 | 858 858 2,509 |
| Loan interest | 25,904 | 0 25,904 23,941 |
| Music Equipment | 0 | 1,133 1,133 0 |
| Music licence fee | 0 | 341 341 326 |
| Premises costs | 0 | 200 200 0 |
| Restricted Giving | 1,530 | 0 1,530 0 |
| Telephone and fax | 0 | 2,290 2,290 2,582 |
| Travel & subsistence | 0 | 26,134 26,134 20,842 |
| Utilities | 0 | 19,215 19,215 9,890 |
| IT equipment and computer consumables | 0 | 0 0 263 |
| 60,186 | 184,890 245,076 224,066 |
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Independent examiner's remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 1,100 | 650 |
5. Trustees' remuneration and expenses
Mrs Grace Machelle Joseph received remuneration of £33,000 (2022: £17,000) during the year, in relation to the ministry work carried out on behalf of Thumbprint Foundation
Reverend Jerome Devakumar Joseph received remuneration of £33,000 (2022: £17,000) during the year, in relation to the ministry work carried out on behalf of Thumbprint Foundation
6. Tangible fixed assets
| Cost or valuation At 1 April 2022 At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 7. Creditors: Amounts falling due within one year 2023 £ Accruals and deferred income 1,100 |
Freehold property £ 1,878,930 1,878,930 1,878,930 1,878,930 2022 £ 650 |
|---|---|
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Creditors: Amounts falling due after more than one year
| Other loans Bank loans |
2023 £ - 436,000 436,000 |
2022 £ 31,587 458,576 490,163 |
|---|---|---|
Page 15
THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Restricted Fund Total of funds |
Balance at 1 April 2022 £ 1,302,718 151,254 1,453,972 |
Income £ 187,587 5,666 193,253 |
Expenditure £ (184,890) (60,186) (245,076) |
Balance at Transfers 31 March in/out 2023 £ £ 43,137 1,348,552 - 96,734 43,137 1,445,286 |
|---|---|---|---|---|
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THUMBPRINT FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Statement of funds (continued) Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Restricted Fund Total of funds |
Balance at 1 April 2021 £ 1,191,348 215,275 1,406,623 |
Income £ 271,415 - 271,415 |
Expenditure £ (160,045) (64,021) (224,066) |
Balance at 31 March 2022 £ 1,302,718 151,254 1,453,972 |
|---|---|---|---|---|
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