COMPANY REGISTRATION NUMBER: 10533521
CHARITY REGISTRATION NUMBER: 1176102
Every Well Water Foundation
Report of the Trustees and Unaudited Financial Statements for the Year Ended
31 December 2020
ANDERSON ROSS LLP
Chartered Accountants 22 West Green Road London United Kingdom N15 5NN
Every Well Water Foundation
Financial Statements
Year ended 31 December 2020
| Pages | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 10 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 12 |
| Notes to the detailed statement of financial activities | 13 |
Every Well Water Foundation
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2020
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.
Achievements and performance
2020 was an unusual and challenging year, and it goes without saying that there were much need globally for all kinds of charity resources. Normally, a significant proportion of Every Well Water Foundation's funding comes from the annual charity dinner at the City Pavilion in Romford. This could not take place in 2020 due to the restrictions in place regarding Covid-19, which had a material adverse effect on the charity's income.
Every Well spent money with two charities during 2020:
(i) With Lawrence's Roundabout, we funded various well and sanitation projects in South Africa.
(ii) Drop4Drop completed a project in Hoima District, Uganda, to build a well which now provides clean water to 320 people.
Plans for 2021/22
The plans for next year involve a planned resumption of the charity's normal activities, in connection with raising funds. These comprise of:
(i) A contribution from Time Wholesale Services Ltd, representing a proportion of profit
(ii) A planned charity fundraising dinner which is to be held on 18th November 2021 in Romford but will now be held on 17th March 2022
(iii) Other fundraising activities such as collection boxes in retail customers of Time Wholesale.
In 2021 we plan to scale up expenditure with existing partners and also introduce at least two new delivery partners to the network. We plan to extend our activity on WASH (Water, Sanitation and Hygiene) projects into new additional countries, such as Uganda and Ethiopia.
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Every Well Water Foundation
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2020
Financial review
Financial Position
The charity's income for the period amounted to £ 56,480 and the expenses for the same period was £ 42,871. The resulting net income of £ 13,608 has been earmarked for various projects located in Gambia and Tamil Nadu, India (both Drop4Drop). Also, new projects which will be confirmed during the year as described above..
Reserves policy
The trustees have examined the requirement for free reserves, i.e. those unrestricted funds not designated for specific purposes or otherwise committed.
The trustees consider that, given the nature of the charity's activities, the ideal reserve as at any given time to be in the region of three months of expenditure. The trustees are of the opinion that this level of reserves provides sufficient flexibility to cover shortfalls in incoming resources, provide adequate working capital and allow the charity to meet its charitable objectives.
At 31 December 2020, the charity has net assets of £ 65,230, of which £34,550 is cash at bank. A proportion of these reserves has already been committed for new projects but we consider the charity to be in good order with regard to its reserves policy.
Structure, governance and management
Governing document
The charitable company is constituted as a company limited by guarantee (Company Registration No.10533521 (England and Wales) and is a charity registered for charitable purposes with the Charity Commission (Charity Registration No.1176102).
The charitable company is governed by its memorandum and articles of association, dated on the 20th December 2016.
Recruiting and appointment of new trustees
New Trustees are appointed based on their interest in the work of charity and their recognised expertise in specific fields which will further support the work of the charity.
Induction and training of new trustees
Any new trustee will be fully briefed on the history of the trust, and its objectives and plans, as well as the management and operational processes. Trustees can retire when they wish as they do not serve under a fixed term of tenure.
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Every Well Water Foundation
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2020
Reference and administrative details
Registered charity name Every Well Water Foundation Charity registration number 1176102 Company registration number 10533521 Principal office and registered Unit 1 office Fairview Industrial Park Marsh Way Rainham Essex RM13 8UH United Kingdom The trustees Mr S Bihal Mr J C Rivers Mr N A Turton Company secretary Mica Bihal Independent examiner Mr Naraidoo Savomy FCA FCCA CTA
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29 October 2021 and signed on behalf of the board of trustees by:
Mr J C Rivers Trustee
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Every Well Water Foundation
Independent Examiner's Report to the Trustees of Every Well Water Foundation
Year ended 31 December 2020
I report to the trustees on my examination of the financial statements of Every Well Water Foundation ('the charity') for the year ended 31 December 2020.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 charity’s accounts as 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 material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006 ; 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 Companies Act 2006 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.
Mr Naraidoo Savomy FCA FCCA CTA Independent Examiner
Anderson Ross LLP 22 West Green Road N15 5NN
29 October 2021
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Every Well Water Foundation
Statement of Financial Activities (including income and expenditure account)
Year ended 31 December 2020
| 2020 | 2020 | 2019 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 55,915 | 55,915 | 55,147 | |
| Other income | 565 | 565 | 262 | |
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| Total income | 56,480 | 56,480 | 55,409 | |
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| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 14,971 | 14,971 | 3,629 | |
| Expenditure on charitable activities | 27,900 | 27,900 | 18,100 | |
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| Total expenditure | 42,871 | 42,871 | 21,729 | |
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| Net income and net movement in funds | 13,609 | 13,609 | 33,680 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 51,621 | 51,621 | 17,941 | |
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| Total funds carried forward | 65,230 | 65,230 | 51,621 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 10 form part of these financial statements.
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Every Well Water Foundation
Statement of Financial Position
31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 7 | 40,100 | 50,274 |
| Cash at bank and in hand | 34,550 | 2,307 | |
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| 74,650 | 52,581 | ||
| Creditors: amounts falling due within one year | 8 | 9,420 | 960 |
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| Net current assets | 65,230 | 51,621 | |
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| Total assets less current liabilities | 65,230 | 51,621 | |
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| Net assets | 65,230 | 51,621 | |
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| Funds of the charity | |||
| Unrestricted funds | 65,230 | 51,621 | |
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| Total charity funds | 9 | 65,230 | 51,621 |
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For the year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 October 2021, and are signed on behalf of the board by:
Mr J C Rivers Trustee
The notes on pages 7 to 10 form part of these financial statements.
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Every Well Water Foundation
Notes to the Financial Statements
Year ended 31 December 2020
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 1, Fairview Industrial Park, Marsh Way, Rainham, Essex, RM13 8UH, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Every Well Water Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2020
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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 classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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Notes to the Financial Statements (continued)
Every Well Water Foundation
Year ended 31 December 2020
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
If the company is wound up at the time they are still all members or within one year after they ceased to be a member, they will contribute to the assets of the company by such amount as may be required for:
. payment of debts and liabilities of the company contracted before they ceased to be member,. payment of costs, charges and expenses of winding up, and,. adjustment of the rights of the contributors among themselves, not exceeding the specified amount £1 each
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Every Well Water Foundation
Notes to the Financial Statements (continued)
Year ended 31 December 2020
5. Analysis of grants
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Grants to institutions | ||
| Lawrence's Roundabout Well Appeal | 15,400 | 8,000 |
| Calcutta Rescue | – | 2,600 |
| Drop 4 Drop | 12,500 | 7,500 |
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| 27,900 | 18,100 | |
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| Total grants | 27,900 | 18,100 |
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6. Trustee remuneration and expenses
There were no trustees' remuneration or expenses paid for the year ended 31 December 2020 and 31 December 2019.
7. Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Other debtors | 40,100 | 50,274 | |
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| 8. | Creditors: amounts falling due within one year | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Accruals and deferred income | 9,420 | 960 | |
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9. Analysis of charitable funds Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 | January 202 | 31 | December | ||
| 0 | Income | Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| General funds | 51,621 | 56,480 | (42,871) | 65,230 | |
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| At | At | ||||
| 1 | January 201 | 31 | December | ||
| 9 | Income | Expenditure | 2019 | ||
| £ | £ | £ | £ | ||
| General funds | 17,941 |
55,409 |
(21,729) |
51,621 |
10. Related parties
There were no related party transactions for the year ended 31 December 2020 and 31 December 2019.
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Every Well Water Foundation
Management Information
Year ended 31 December 2020
The following pages do not form part of the financial statements.
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Every Well Water Foundation
Detailed Statement of Financial Activities
Year ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 50,000 | 50,274 |
| Donations and legacies | 5,915 | 4,873 |
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| 55,915 | 55,147 | |
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| Other income | ||
| Other income | 565 | 262 |
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| Total income | 56,480 | 55,409 |
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| Expenditure | ||
| Costs of raising donations and legacies | ||
| DetailedSOFAExpenditureOnRaisingDonationsType1H | 14,971 | 3,629 |
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| Expenditure on charitable activities | ||
| DetailedSOFAExpenditureOnCharitableActivitiesType2H | 27,900 | 18,100 |
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| Total expenditure | 42,871 | 21,729 |
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| Net income | 13,609 | 33,680 |
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Every Well Water Foundation
Notes to the Detailed Statement of Financial Activities
Year ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Costs of raising donations and legacies | ||
| Costs of raising donations and legacies - Donations | ||
| Raising Funds | 14,971 | 3,629 |
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| Costs of raising donations and legacies | 14,971 | 3,629 |
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| Expenditure on charitable activities | ||
| Activity type 1 | ||
| Grant funding activities | ||
| Grant charitable activity | 27,900 | 18,100 |
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| Expenditure on charitable activities | 27,900 |
18,100 |
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