The Tubules Foundation A Charitable Incorporated Organisation
Report and Financial Statements For the Year Ended 30 September 2024
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........................................................................................................................................... 2 Reserves Policy............................................................................................................................................. 3 Independent Examiner’s Report to the trustees of the charity.......................................................................4 Statement of Financial Activities (including Income & Expenditure Account) for the Year ended 30 September 2024........................................................................................................................................... 5 Balance Sheet as at 30 September 2024........................................................................................................6 Statement of Cash Flows for the Year ended 30 September 2024..................................................................7 Notes forming part of the Financial Statements for the Year ended 30 September 2024................................8**
## **Trustees’ Report**
The Trustees present their report and financial statements for the year ended 30 September 2024.
## 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 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
During the financial year, the Foundation supported the running costs of the library of £389 at Mwanyambo Primary School in Voi, Kenya and will continue to support running costs through July 2025. With the main project at the school completed, it was time to identify our next project.
The Trustees have selected the next project and negotiated terms with Ewaso Conservation Company Limited, a company limited by guarantee which runs the Ewaso Lions Kids Camp in Ngutuk Engiron, in northern Kenya. With an initial cost of £70,288 the Tubules Foundation funded the construction of new school, residential and related buildings at the Ewaso Lions Kids Camp to advance education for the public benefit. htps://ewasolions.org
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 £26,258 and spent £70,677 on charitable activities as shown in the previous section of this report. We also spent £2,111 on administrative items (accountant’s fees, insurance and shipping fees to send donated books and supplies from the UK to Kenya). At the end of the financial year, we had a balance of £52,676 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 £6,900 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 £2,094 towards the cost of staffing the library at the primary school in Voi. There have been no further payments to the Ewaso Conservation Company Limited.
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
2
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. Although there was a loss for the year, the charity continues to hold a surplus of funds at the year-end on 30 September 2024.
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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 2024. I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.
## 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:
- accounting records were kept in accordance with section 386 of the Companies Act 2006; or
- the accounts accord with such records; or
- the accounts comply with relevant accounting requirements under 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
- the accounts have been prepared in accordance with the Charities SORP (FRS102).
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: 14 July 2025
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## **The Tubules Foundation**
Statement of Financial Actvites (including Income & Expenditure Account) for the Year ended 30 September 2024
|Unrestricted
Total
Funds
Funds
2024
2024
Note
£
£
**Incoming resources from generated funds:**
Voluntary income:
Donatons
2
26,258
26,258
______
______
Total incoming resources
26,258
26,258
**Resources expended**
Charitable actvites
4
70,677
70,677
Administratve expenses
2,111
2,111
______
______
Total resources expended
72,788
72,788
______
______
**Net (loss)/income for the year**
-46,530
-46,530
Total funds brought forward
106,106
106,106
_______
_______
**Total funds carried forward**
**59,576**
**59,576**|Total
Funds
2023
£
34,663
______
34,663
3,024
850
______
3,874
______
30,789
75,317
______
**106,106**|
|---|---|
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 2024
|Note
Current Assets
Cash at bank and in hand
Debtors
9
Net current assets
Net assets
Unrestricted funds
General funds
11
Total funds|2024
£
52,676
6,900
______
59,576
______
59,576
59,576
______
59,576|2023
£
89,144
16,962
_______
106,106
_______
106,106|
|---|---|---|
|||106,106
_______
106,106|
Audit Exemption
For the financial year ended 30 September 2024, 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 2024 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 14 July 2025 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 2024
|Total
Funds
2024
£
**Cash fows from operatng actvites:**
Net cash provided by operating activities
-36,468
**Cash fows from investng actvites:**
Net cash provided by investing activities
0
**Change in cash and cash equivalents in**
**the reportng period**
-36,468
**Cash and cash equivalents at the beginning**
**of the reportng period**
89,144
______
**Cash and cash equivalents at the end**
**of the reportng period**
**52,676**|Total
Funds
2023
£
28,827
0
28,827
60,317
______
**89,144**|
|---|---|
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## **The Tubules Foundation**
Notes forming part of the Financial Statements for the Year ended 30 September 2024
## 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 £59,576 (2023 – £106,106). 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
2024
£
Donatons
70,677
3.
Income from charitable actvites
Unrestricted
2024
£
Charitable actvites
0
4.
Total resources expended
Ewaso Lions
Constructon
Camp
of Library
2024
2024
£
£
Charitable actvites
70,288
389
5.
Net income
Unrestricted
2024
£
Net income is stated afer the following amounts
Auditor’s remuneraton
0
Depreciaton and amortsaton
0|Total
2024
£
70,677
Total
2024
£
0
Total
2024
£
70,677
Total
2024
£
0
0|Total
2023
£
3,024|
|||Total
2023
£
0
Total
2023
£
3,024|
|||Total
2023
£
0
0|
6. Trustee Remuneration and Related Party Transactions
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 (2023 – nil).
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|7.
Staf costs
Unrestricted
2024
£
Staf remuneraton
0
8.
Fixed assets
Fixed assets
9.
Debtors
Trade debtors|Total
2024
£
0
Total
2024
£
0
2024
£
6,900|Total
2023
£
0
Total
2023
£
0
2023
£
16,962|
|---|---|---|
|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|||||
|||2024||2023|
|||£||£|
|Trade creditors||0||0|
|11.
Movement in funds|||||
||Restricted|Unrestricted||Total|
||£|£||£|
|Opening balance on 1 October 2023|0|106,106|106,106||
|Movement during the year|0|-46,530||-46,530|
||__|______||______|
|Closing balance on 30 September 2024|0|59,576||59,576|
|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||
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12. 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.
## 13. 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 2024 was £16,962 (2023 – £17,493).
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