The Tubules Foundation A Charitable Incorporated Organisation
Report and Financial Statements For the Year Ended 30 September 2025
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 ............................................................................................................................................ 4 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 2024 ............................................................................................................................................ 6 Balance Sheet as at 30 September 2024 ........................................................................................................ 7 Statement of Cash Flows for the Year ended 30 September 2024 .................................................................. 8 Notes forming part of the Financial Statements for the Year ended 30 September 2024 ................................ 9
Trustees’ Report
The Trustees present their report and financial statements for the year ended 30 September 2025.
Reference and administrative information
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
1
Our Objectives and Activities
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 at Mwanyambo Primary School in Voi, Kenya totalling £3,202 and will continue to support running costs.
At the end of the 2024 financial year, the Trustees 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 which was paid in the prior financial year, 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. https://ewasolions.org. Construction was delayed while Ewaso Lions Camp had to secure building and other permits from the local government. It has finally started and initial progress can be seen in the following photographs.
2
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 £21,195 and spent £3,202 on charitable activities as shown in the previous section of this report. We also spent £1,088 on administrative items (accountant’s fees and insurance). At the end of the financial year, we had a balance of £66,194 in unrestricted bank accounts. Included in donations received is a pledge from Dentinal Tubules Limited in the amount of £10,287 which has not yet been received in cash. 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 no further donations to the primary school in Voi nor 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 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. The charity continues to hold a surplus of funds at the year-end on 30 September 2025.
4
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 2025. I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2025.
Responsibilities 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 did not exceed £25,000. Nonetheless the Trustees decided to have the financial statements examined 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: 15 July 2026
5
The Tubules Foundation
Statement of Financial Activities (including Income & Expenditure Account) for the Year ended 30 September 2025
| Unrestricted Funds 2025 Note £ Incoming resources from generated funds: Voluntary income: Donations 2 21,195 __ Total incoming resources 21,195 Resources expended Charitable activities 4 3,202 Administrative expenses 1,088 _ Total resources expended 4,290 Net income/(loss) for the year 16,905 Total funds brought forward 59,576 ____ _ Total funds carried forward 76,481 |
Total Total Funds Funds 2025 2024 £ £ 21,195 26,258 __ _ 21,195 26,258 3,202 70,677 1,088 2,111 4,290 72,788 16,905 -46,530 59,576 106,106 ____ 76,481 59,576 |
|---|---|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
6
The Tubules Foundation
Balance Sheet as at 30 September 2025
| Note Current Assets Cash at bank and in hand Debtors 9 Net current assets Net assets Unrestricted funds General funds 11 Total funds |
2025 £ 66,194 10,287 _ 76,481 _ 76,481 76,481 ____ _ 76,481 |
2024 £ 52,676 6,900 __ 59,576 _ 59,576 59,576 ___ 59,576 |
|---|---|---|
Audit Exemption
For the financial year ended 30 September 2025, 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 15 July 2026 and signed on its behalf by:
David Bowen Horne Treasurer
7
The Tubules Foundation
Statement of Cash Flows for the Year ended 30 September 2025
| Cash flows from operating activities: Net cash provided by operating activities Cash flows from investing activities: Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
Total Total Funds Funds 2025 2024 £ £ 13,518 -36,468 0 0 13,518 -36,468 52,676 89,144 __ ____ 66,194 52,676 |
|---|---|
8
The Tubules Foundation
Notes forming part of the Financial Statements for the Year ended 30 September 2025
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 £76,481 (2023 – £59,576). 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.
9
2. Donations
| 2. Donations |
||
|---|---|---|
| Unrestricted 2025 £ Donations 21,195 3. Income from charitable activities Unrestricted 2025 £ Charitable activities 0 4. Total resources expended Ewaso Lions Library Camp in Voi 2025 2025 £ £ Charitable activities 0 3,202 5. Net income Unrestricted 2025 £ Net income is stated after the following amounts Auditor’s remuneration 0 Depreciation and amortisation 0 |
Total 2025 £ 21,195 Total 2025 £ 0 Total 2025 £ 3,202 Total 2025 £ 0 0 |
Total 2024 £ 70,677 Total 2024 £ 0 Total 2024 £ 70,677 Total 2024 £ 0 0 |
- 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 (2024 – nil).
10
| 7. Staff costs |
|||
|---|---|---|---|
| Unrestricted Total | Total | ||
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Staff remuneration | 0 | 0 | 0 |
| 8. Fixed assets |
|||
| Total | Total | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fixed assets | 0 | 0 | |
| 9. Debtors |
|||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors | 10,287 | 6,900 | |
| Trade debtors consist entirely of pledges from Dentinal Tubules Limited (see | note 13). | ||
| 10. Creditors |
|||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors | 0 | 0 | |
| 11. Movement in funds |
|||
| Restricted | Unrestricted Total | ||
| £ | £ | £ | |
| Opening balance on 1 October 2024 | 0 | 59,576 | 59,576 |
| Movement during the year | 0 | 16,905 | 16,905 |
| __ | ______ | ______ | |
| Closing balance on 30 September 2025 | 0 | 76,481 | 76,481 |
| 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 |
11
- 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.
- 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 £10,287 (2024 – £16,962).
12