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2023-09-30-accounts

The Tubules Foundation A Charitable Incorporated Organisation

Report and Financial Statements For the Year Ended 30 September 2023

Charity number 1176588 Registered Company Number CE012876

Table of Contents

Reference and administrative information....................................................................................................1 Trustees....................................................................................................................................................... 1 Our Objectives and Activities........................................................................................................................2 Our Achievements and Performance.............................................................................................................2 Financial Review........................................................................................................................................... 3 Reserves Policy............................................................................................................................................. 4 Independent Examiner’s Report to the trustees of the charity.......................................................................5 Statement of Financial Activities (including Income & Expenditure Account) for the Year ended 30 September 2022........................................................................................................................................... 6 Balance Sheet as at 30 September 2022........................................................................................................7 Statement of Cash Flows for the Year ended 30 September 2022..................................................................8 Notes forming part of the Financial Statements for the Year ended 30 September 2022................................9

Trustees’ Report

The Trustees present their report and financial statements for the year ended 30 September 2023.

Reference and administratve informaton

Charity name: The Tubules Foundation Charity registration number: 1176588 Company registration number: CE012876 Registered address: 41 Bateson Drive Leavesden Watford, WD25 7ND

Trustees

David Bowen Horne Treasurer Jemish Ramesh Patel Secretary Dr Dhru Ratilal Shah Dr Robert Oretti Dr Simon Thackeray Dr Boota Singh Ubhi Dr Melonie Prebble (appointed 10 September 2023) Dr Narni Rhianna Fulford-Steer (resigned 4 February 2023) Bankers Metro Bank, One Southampton Row, London, WC1B 5HA

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Our Objectves and Actvites

Our charity’s purposes as set out in the objects in our Constitution of a Charitable Incorporated Organisation are to advance education for the public benefit in the least developed countries (as defined by the DAC List of ODA countries maintained by the OECD) by building and equipping schools and using technology for educational support.

Our Achievements and Performance

Our main activity in the year ended 30 September 2023 and to the date of this report has been completing our first project, a library at Mwanyambo Primary School in Voi, Kenya.

Following our initial success of transforming a concrete slab in the middle of the school playground to a safe and secure building which will be used as a library and educational centre for the pupils of the school and the community around it, the library is now open and operational.

Working together with the Rotary Club of Voi, the local contractors completed the building. The next photograph shows the external signage to the library, with a clear indication that it

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is open to both schools and adults for use, providing internet access, computer training, a conference facility, as well as the reading and lending of books.

The Trustees have had regard to the Charity Commission’s guidance on public benefit.

Financial Review

The financial statements on the following pages set out the financial results of The Tubules Foundation.

We received donations totalling £34,663 and spent £3,024 on charitable activities as shown in the previous section of this report. We also spent £850 on administrative items (accountant’s fees and insurance). At the end of the financial year we had a balance of £89,144 of unrestricted funds held in the charity’s bank accounts with Metro Bank.

Included in donations received is a pledge from Dentinal Tubules Limited in the amount of £16,962 which has been received in cash after the balance sheet date. This is reflected as a debtor in the balance sheet. These are also unrestricted funds.

Subsequent to the end of the financial year and up to the date of this report, the Trustees have made further donations totalling £2,118 to purchase computers and to connect the building to the internet.

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As a small charity the primary risk is that we do not raise sufficient funds to complete our charitable activities. To date the activities of the trustees has ensured that this has not happened, and additional funds have both been raised and expended in continuing our charitable activities.

Reserves Policy

The charity raised the needed finance and met its income and expenditure liabilities with a surplus at the year-end on 30 September 2023.

The Trustees have selected their next project and are currently negotiating terms with the other party, Ewaso Conservation Company Limited, a company limited by guarantee which runs the Ewaso Lions Kids Camp. The Tubules Foundation will be funding the construction of new school, residential and related buildings at the Ewaso Lions Kids Camp in northern Kenya to advance education for the public benefit. htps://ewasolions.org

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Independent Examiner’s Report to the trustees of the charity

Report by the Independent Examiner to the trustees on the accounts of the Charity for the year ended 30 September 2023. I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.

Responsibilites of trustees

As the charity’s trustees of the Company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your 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

The company’s gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

Baljit Takhar ACCA Taxlite Limited, Chartered Certified Accountants 6 Soho Road Birmingham, B21 9BH Date: 29 July 2024

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The Tubules Foundation

Statement of Financial Actvites (including Income & Expenditure Account) for the Year ended 30 September 2023

Note
Incoming resources from generated funds:
Voluntary income:
Donatons
2
Total incoming resources
Resources expended
Charitable actvites
4
Administratve expenses
Total resources expended
Net (loss)/income for the year
Total funds brought forward
Total funds carried forward		 Unrestricted
Total
Funds
Funds
2023
2023
£
£
34,663
34,663
__
_
34,663
34,663
3,024
3,024
850
850


3,874
3,874


30,789
30,789
75,317
75,317
_
____
106,106
106,106		 Total
Funds
2022
£
36,602
__
36,602
5,611
1,129
_
6,741

29,861
45,456
___
75,317

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

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The Tubules Foundation

Balance Sheet as at 30 September 2023

Note
Current Assets
Cash at bank and in hand
Debtors
9
Net current assets
Net assets
Unrestricted funds
General funds
11
Total funds		 2023
£
89,144
16,962
_
106,106
_
106,106
106,106
_
106,106		 2022
£
60,317
15,000
__
75,317
_
75,317
75,317
___
75,317

Audit Exemption

For the financial year ended 30 September 2023, the company was entitled to exemption under section 477 of the companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year to 30 September 2023 in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibility for complying with the Act with respect to accounting records and for the preparation of accounts.

These accounts are prepared in accordance with the Charities Statement of Recommended Practice (FRS 102) (second edition – October 2019).

Approved by the Trustees on 29 July 2024 and signed on its behalf by:

David Bowen Horne Treasurer

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The Tubules Foundation

Statement of Cash Flows for the Year ended 30 September 2023

Cash fows from operatng actvites:
Net cash provided by operatng actvites
Cash fows from investng actvites:
Net cash provided by investng actvites
Change in cash and cash equivalents in
the reportng period
Cash and cash equivalents at the beginning
of the reportng period

Cash and cash equivalents at the end
of the reportng period		 Total
Funds
2023
£
26,397
0
28,827
60,317
______
89,144		 Total
Funds
2022
£
26,397
0
26,397
33,920
______
60,317

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The Tubules Foundation

Notes forming part of the Financial Statements for the Year ended 30 September 2023

  1. Accounting Policies

The principle accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Statement of Recommended Practice – Charities SORP (FRS 102) (second edition – October 2019).

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

(c) Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy.

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.

(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

(e) Going concern

The balance sheet is showing a net funds figure of £106,106 (2022 - £75,317). The trustees have prepared the accounts on the going concern basis as the charity continues to raise funds to support its activities and has no contractual commitments to expenditure. Taking into account these factors, the trustees are of the opinion that the charity will be able to continue in operational existence for the foreseeable future.

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2. Donations

2.
Donatons
Unrestricted
2023
£
Donatons
34,663
3.
Income from charitable actvites
Unrestricted
2023
£
Charitable actvites
0
4.
Total resources expended
Constructon
of Library
2023
£
Charitable actvites
3,024
5.
Net income
Unrestricted
2023
£
Net income is stated afer the following amounts
Auditor’s remuneraton
0
Depreciaton and amortsaton
0
6.
Trustee Remuneraton and Related Party Transactons		 Total
2023
£
34,663
Total
2023
£
0
Total
2023
£
3,024
Total
2023
£
0
0		 Total
2022
£
36,602
Total
2022
£
0
Total
2022
£
5,611
Total
2022
£
0
0

No trustees received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2022 – nil).

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7.
Staf costs
Unrestricted
2023
£
Staf remuneraton
0
8.
Fixed assets
Fixed assets
9.
Debtors
Trade debtors		 Total
2023
£
0
Total
2023
£
0
2023
£
16,962		 Total
2022
£
0
Total
2022
£
0
2022
£
15,000
Trade debtors consist entrely of pledges from Dentnal Tubules Limited (see Trade debtors consist entrely of pledges from Dentnal Tubules Limited (see Trade debtors consist entrely of pledges from Dentnal Tubules Limited (see note 13) and note 13) and
have been paid in full into the Foundaton’s bank account afer the balance sheet date.
10.
Creditors
2022 2021
£ £
Trade creditors 0 0
11.
Movement in funds
Restricted Unrestricted Total
£ £ £
Opening balance on 1 October 2022 0 75,317 75,317
Movement during the year 0 30,789 30,789
__ ____ __ ______
Closing balance on 30 September 2023 0 106,106 106,106
Opening balance on 1 October 2021 0 45,456 45,456
Movement during the year 0 29,861 29,861
__ ______ ______
Closing balance on 30 September 2022 0 75,317 75,317

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  1. Taxation

As a charity, The Tubules Foundation is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

  1. Related party transactions

Donations have been made by Dentinal Tubules Limited, of which both David Bowen Horne and Dhru Ratilal Shah are shareholders and directors. The amount donated in the year ended 30 September 2022 was £17,493 (2022 £11,536).

A donation of £nil (2022: £2,000) was made by The Birmingham Periodontal and Implant Centre Limited, of which Dr Boota Singh Ubi is a shareholder and director.

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