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2023-05-31-accounts

The Foundry International Ltd. (A company limited by guarantee)

Report & financial statements For the Year ended 31[st] May 2023

Charity number: 1200205 Company number: 11986581

An introductory note from the Trustees & Directors

These are extraordinary times to be alive - we want to give thanks to the Lord God our Father, and Jesus Christ His Son and our King for the many ways in which He is galvanising, organising and mobilising His people in these days. The Foundry International is a part of this movement of God across the earth, and it is the greatest privilege to serve God and His family in all the different ways that He allows.

At the heart of The Foundry International are two indispensable beliefs: firstly, that Jesus is alive and is building His church; secondly, that God has a glorious place, plan and purpose for each and every one of His children.

Amidst so much chaos and confusion, the Lord is giving us all a new grace for unity, a new confidence in our voice and a new compassion for the lost.

As we look back on this first 'official' year of The Foundry International, there is so much to be grateful for - but this is just the beginning. Thank you so much for partnering with us as we follow His lead - His work and will, done His way, on His terms and in His timing - all for His glory and for the saving and blessing of many people.

Contents:

Reference and administrative information Page 4
Charity aims and objectives Page 5
Beneficiaries and public benefit Pages 6 - 8
Core work and outcomes Pages 9 - 22
Financial review Pages 23 - 27
Looking ahead Pages 28 – 32
Appendices Pages 33 - 37

Reference & administrative information

Charity Name : The Foundry International Ltd Charity registration number : 1200205 Company registration number : 11986581 Registered office: 74 Manor Drive North, New Malden, Surrey, KT3 5PA Trustees & Company Directors: Mrs J Shew - Chair of Trustees Mr L Campbell – Treasurer Ms D Kurosu Ms Z Woodhams Mr SAA Shah Financial Year: 1st June 2022 – 31st May 2023 Auditor: Charles Tait Accounting Limited Bankers: Metro Bank, Kingston Upon Thames

Charity Aims & Objectives

The charity’s purposes are:

  1. The advancement of the Christian faith through the creation and provision of training materials, projects, events and other resources in order to catalyse church planting, disciple-making, networking and collaboration across the wider church.

  2. To relieve poverty or financial hardship across the United Kingdom and other nations of the world by issuing grants and providing the charity’s resources to individuals and organisations that strategically support and empower effective social and community transformation.

We review our aims and objectives on an annual basis – considering what has been achieved in the previous year and the focus for the coming year. We refer to the Charity Commission’s guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

The focus of the work:

As set out in our operational plan for 2022-2023 our focus was:

Before reviewing what has been delivered against these aims & objectives, we will clarify who the core beneficiaries are and how we have taken the Charity commission’s public benefit guidance into account.

Beneficiaries & public benefit – Who are they?

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Illustrations taken from operational plan
2022-2023, submitted to the Charity
Commission during initial application
----- End of picture text -----

Since the inception of The Foundry International we have been clear in the view that beneficiaries will be individuals, churches, charities, community organisations and businesses. While there may be some beneficiaries that feel more closely aligned with the Foundry on an ongoing basis, the products, services and support will be accessible to all beneficiaries.

Beneficiaries & public benefit – How do they benefit?

Charity Purpose 1 . The advancement of the Christian faith through the creation and provision of training materials, projects, events and other resources in order to catalyse church planting, disciple-making, networking and collaboration across the wider church.

In pursuing our first purpose, we seek to see healthy Christians, more local churches and productive relationships across local church communities.

Christianity not only brings meaning to the lives of Christians but also provides a very clear moral and ethical framework to live by – with core beliefs around dignity, compassion, justice and community. This offers many benefits to wider society, as well as to those individuals. The primary direct benefit from providing Biblical and spiritual training, events and meeting spaces for prayer and sharing is the resultant lives that people lead - lives with a greater sense of well-being, purpose, meaning and connection.

The consequent benefits mean, firstly, that people are encouraged and inspired to live socially responsible, compassionate lives focused on service to family, neighbours, colleagues, friends and the wider community. Secondly, the programs and services that churches provide, such as creche facilities, youth groups, community meeting places, and food banks provide benefits to the wider community and contribute to community health, education and development. More, and healthier, churches will be able to provide more and better services to their communities.

All services provided by The Foundry International in the pursuit of their purpose would be available to the general public, irrespective of their own beliefs, background or financial situation. Where meetings, teaching or resources are provided online there are no geographical restrictions.

With a concentration of relationships and churches already in the Kingston Upon Thames area, focus will initially be given to – local events in and around this area but as noted already, there is no exclusion based on a person’s location or financial situation.

The focus of this work is for The Foundry International to serve Christians and churches, so they in turn can serve their local communities, as well as sharing with anyone interested the joy of what it means to be a Christian and to live a life full to the potential of the purpose for which God has made them.

Beneficiaries & public benefit – How do they benefit?

Charity Purpose 2 . To relieve poverty or financial hardship across the United Kingdom and other nations of the world by issuing grants and providing the charity’s resources to individuals and organisations that strategically support and empower effective social and community transformation.

We believe that Christians have a responsibility to fight against poverty and financial hardship and to support people in need.

A minimum of 51% of all charity income is set aside to be given away through The King’s Purse for redistribution in the form of grants and gifts in accordance with the Foundry’s charitable objects:

(I) in support of the advancement of the Christian faith;

(II) in support of church planting and networking opportunities across the Christian church;

(III) to help relieve poverty or financial hardship; or

We aim to give both towards the relief of poverty (whether for one individual/family or to a charity or organisations that helps multiple individuals/families, or a sector of the population) as well as towards addressing the causes of and prevention of poverty.

We also want to find other ways beyond financial support to catalyse work, support or instigate works that fight against poverty and financial hardship.

There is no requirement that any applicants for a grant or recipient of a gift share our faith or beliefs or attend our events/initiatives - therefore beneficiaries of grants can include any member of the public so long as the purpose for which the grant is sought is in line with The Foundry International’s charitable purposes, the criteria noted above and any applicable policies.

The aim behind this purpose is to benefit wider society through lives that are changed for the better through relief of financial hardship, as well as through strategic social and community transformation.

Core work & outcomes 2022 - 2023

The target work set for 2022-2023 was:

Charity Purpose #1 & #2 Charity Purpose #1 & #2 Charity Purpose #1 Charity Purpose #1 & #2 Charity Purpose #1 & #2 Charity Purpose #1 & #2 Charity Purpose #1

Core work & outcomes 2022 – 2023: Establishment as a charity

The Foundry International was incorporated as a company on 9[th] May 2019 – mainly out of obedience to God – but without real clarity on exactly what form it would take.

At the start of lock-down in 2020 a group of scattered church friends started meeting together regularly to pray. It was during this time they felt a clarifying call from God to establish The Foundry International with specific aims to serve the whole church and promote unity, while meeting the key mandate for the church to make disciples and care for the poor.

At the beginning of 2022, a core team started to work on more structured establishment of The Foundry International, with an eye to working towards charity status. The main initial driver for charity status was to provide transparency and trust for how we would manage finances, as we believe that God will trust the Foundry with significant finance, to administer through The King’s Purse to advance the Christian faith and serve the poor.

On 30[th] August 2022, the Charity Commission for England and Wales confirmed that The Foundry International Ltd had been awarded charity status.

At the end of June 2023, we were approved to claim Gift Aid on donations.

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: The King’s Purse

The Foundry International has committed to prayerfully and carefully giving away more of our income than we spend. This means that a minimum of 51% of our income goes into what we call ‘The King's Purse.’ These resources are redistributed in the form of grants and gifts to:

support the advancement of the Christian faith;

support church planting and network opportunities across the Christian church; help in the relief of poverty or financial hardship; help individuals who can evidence financial hardship.

The King’s Purse:

Income: £ 23,919 (from 51% of gifts to Foundry)

Gifts/grants: (£16,700)

Balance YE: £7,219

Reflection:

Most initial gifts/grants were given in support of Charity Purpose 1, advancing the Christian faith. So latterly, focus was given to work in support of purpose 2, the relief of poverty.

We will continue to monitor the balance between both charity purposes, while considering how to increase applications.

In 2022-2023 The King’s Purse awarded grants or gifts to:

In 2022-2023 The King’s Purse awarded grants or gifts to:
All Nations – a diverse church family based in Wolverhampton who want to glorify God - their Registered
vision is to impact the city, the region and other nations. Their founding characteristics are Charity
about serving the poor, audacious faith and welcoming all people.
Generation Jesus–who manage a regular event for young people in years 9 to 13 to encounter Part of a
Jesus, meet young people from various churches and youth groups, worship together and meet Registered
with the Holy Spirit. Charity
A Christian worker -who is faithfully following the call of God on their life to equip and train the An individual
church, and to gather Christians as God directs for a multitude of works.
Jubilee+ - to support their continuing work fulfilling the vision of seeing churches change the Registered
lives of those in poverty in their communities. Charity
Grace Advocacy - to support their work providing a free advocacy service for people who are
struggling in the areas of benefits, disability, housing, NHS care, adult social care and debt, and
building church-based teams to more effectively address these and other social needs.		 Registered
Charity
Concert of Prayer - this newly founded charity exists to train leaders and churches to pray Registered
together, host prayer meetings and create a culture of prayer in the local church. Charity
Big Life - work to support the body of Christ around the world through discipleship training and Registered
support – their work is often in very challenging environments. Charity

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Basecamp Online

Basecamp Online is a place for businesses, individuals, churches & charities. It provides training, projects, events and other resources to care for Christians, catalyse church planting, make disciples as well as support networking and collaboration across the wider church.

This will include Foundry-led initiatives, but with a desire to create a “commonwealth community” that encourages care and innovation beyond the aegis of The Foundry International and Basecamp Online.

Basecamp Online went ‘live’ on the Foundry website in November 2022 – with two main areas: “The Forge” and “The Armoury” .

Charity Purpose #1

Core work & outcomes 2022 – 2023: Basecamp Online

Prayer Meetings

We’ve held over 150 prayer meetings as part of our regular schedule of prayer for anyone who wants to join (regardless of church denomination, or no church at all) on Tuesdays, Thursdays and Sundays.

Numbers vary from call to call – however, there have been approximately 6,000 minutes of prayer time with people from a variety backgrounds and locations across the UK.

Firesides

There have been 11 Fireside meetings, gathering people to be trained and equipped to better discipleship. With series focussing on the Great Commission, Identity, 1 Corinthians, biblical encounters with Jesus and our current series on ‘Interpreting the Times.’

This equates to around 1,000 minutes of meeting time, where there has been much more space for discussion and reflection.

Reflection:

These have become integral parts of the rhythm of life for many beneficiaries. While there has been no quantitative measure, the qualitative feedback has been positive. We plan to continue with these sessions, while considering what other Forge events are required.

Charity Purpose #1

Core work & outcomes 2022 – 2023: Basecamp Online

– We’ve recorded and distributed two teaching series “Commission” ( 4 sessions on Obedience, Worship, Authority & Action ); and “Uniquely Needed” ( a 13-part series looking through the book of Nehemiah. )

Video versions are made available on YouTube, with audio only available across all main podcasting services.

There were 297 views on YouTube, with 28 hours of teaching watched. The podcasts were downloaded 248 times, by 108 unique listeners.

We also recorded 5 sessions of our new “On the Road” series – hearing from different people about their walk with God and how they live following His voice and instruction, to live fuller lives of joy in Christ.

There are more episodes scheduled to be recorded – and we will start to release these from late July 2023.

Reflection:

Feedback from beneficiaries have been very positive about these teaching series. With this content in the ‘library’ we want to increase people’s access to these resources. We also want to include a wider breadth of voices from different people, which the On the Road series will start to do, as well as other media including writing, art and music.

Charity Purpose #1

Core work & outcomes 2022 – 2023: Internal structures & process

There has been significant work ‘behind the scenes’: getting policies in place (e.g. grant assessment & awards, safeguarding etc.); establishing a trustee team and meetings; setting robust financial processes and reporting; building relationships with other churches, organisations and charities; and other important administrative aspects like bank accounts, contracts and systems.

Policies in Place

Procedures in place

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Internal structures & process

Our initial structure, as outlined in the 2022-2023 Operational plan, was a team of trustees, with an executive team reporting into them who would manage the day-to-day running of the Foundry. There would then be an operations team, initially volunteers and/or individuals contracted for specific packages of work.

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Figure taken from In practice how things
Operational Plan have worked
2022-2023 In practice, through the first year, all these
three core teams have been drawn from the
same group of five people. Foundry
Foundry
International
International Our thanks is therefore to a Trustee team
which has been very much a “working team”
Governance & Structures
to establish the charity.
Governance & Structures
There has been a more blurred line between Trustees
Trustees
the Executive & Operations teams from a Julie
structural point of view, given the small Zoe
Accountant number of people involved. Debora
Akhtar Accountant
Executive That said, there has been explicit & clear Lewis
demarcation between the trustee team, their
Team
meetings and their decisions, and those
regards executive/operational work.
Executive / Ops Team
Operations
Akhtar
Team
Debora
Julie
Lewis
Throughout the last year Akhtar & Lewis have been
engaged on/off as contractors to complete
packages of work on behalf of the charity. Charity Purpose #1 & #2
----- End of picture text -----

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Internal structures & process

– Contractor Engagement rationale & method

In order to deliver the operational plans for 2022-2023 it was agreed that a team would need to be released to complete the core work. However, our bank balance was £8,025.15 and as such we knew we would not be able to employ a staff team. It was decided that we should engage individuals on a contract basis to deliver specific packages of work at a fixed hourly rate with a maximum monthly limit of hours

These contractors would only be engaged if we already had the money in the bank to pay for that engagement, while still having enough cash to cover the fixed operational costs for the remainder of the year. To be explicit, if giving to The Foundry was to significantly drop or stop, then we would not proceed with engaging these contractors. Similarly, if giving increased there was latitude to increase the hours’ ceiling per month.

This approach allowed the charity to safely prevent any financial exposure, while being able to gain traction delivering against our operational plans.

Akhtar and Lewis were approached by the three other trustees, as they believed they were the most appropriate people to engage in these contracts - because the vision for the Foundry was birthed through Akhtar hearing from God and in prayer and discussions with Lewis principally. They believed them to have the clearest sense from God and between them were seen as key to the next necessary steps to set the work of the Foundry in motion and develop the operational plan and strategy at pace.

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Internal structures & process

– Contractor Engagement hours worked

The maximum billable hours have flexed throughout the year:

June - July 2022 – Max 50 (per contractor) Aug – Oct 2022 – Max 40 (per contractor) Nov – June 2023 – Max 70 (per contractor)

– The contractors bill a month in arears so the invoices in Jun-22 totalling £1,580 would be for hours worked in May-22.

In May-23 a payment for one contractor was accidentally processed a day early. So the May-23 total is notably higher, as it covers three contractor invoices (two invoices for work completed in Apr23, and one for work completed in May-23.)

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£3,620
£2,525 £2,455
200 £2,190 £2,605
£2,530
£1,915
180
£1,475 £1,955
160 £1,580
140
£1,100
120 £800
100
80
60
40
20
0
Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23
Akhtar hours (Total: 769.5)
Lewis hours (Total: 468)
Total contractor costs
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Reflection:

We are confident we have utilised the best strategy with the contractor engagement method. We would not have been able to make as much progress against our operational plan without engaging workers, yet we could not afford to employ permanent members of staff. It has been pragmatic as well as providing financial protection to the charity, allowing us to flex engagement based on available finances.

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Website & social media channels

thefoundryinternational.com

The website was launched early in 2022. Its core purposes were to allow people to:

find out information about the charity and contact us;

access Basecamp Online resources and events; find out about The King’s Purse and apply for grants.

The website has had over 2,400 views from 297 different users.

Other apps & social sites

For the distribution of Basecamp Online material, we’ve established a presence called “Foundry Radio” on all main sites for Podcasts, as well as a dedicated page on YouTube for video content.

We have legacy Foundry pages on Facebook & LinkedIn, however comparatively very little time has been invested on either of these two platforms.

Reflection:

The Foundry International is now discoverable in all the key places we need for people to find out about us and to consume content. We need to review whether to invest time on our Facebook & LinkedIn pages and consider whether there are any other platforms or tools that would improve access. Focus should then be given to practical means to further promote/increase traffic.

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Key partnerships

Integral to the aims of the Foundry is the building-up of the wider church and unity across its various denominations, as well as closer relationships between existing church structures and other businesses and charities. As such, focus was given to building relationships with other ministries, churches & charities.

Direct Partnerships developed over the last 12 months:

• All Nations movement (www.allnationsmovement.org)

The All Nations Movement is a family of churches and ministries with a shared vision for revival and a passion to raise disciples who make disciples.

A movement of prayer and worship connecting people across the nation and nations, that used using the Christian history of Big Ben as a starting point

A group of volunteers in the London Borough of Sutton helping neighbors that are struggling during these hard times by distributing free fresh healthy food boxes.

In the last 12 months Foundry Operations team members have developed relationships with:

All Nations church | City Vision | Crown Family church | Emerge (All Nations)| Evangelical Alliance | Jubilee+ |Men4Jesus | New Frontiers (Kings/Beacon) | Portobello Baptist Church | South Asian Forum | Swanton Abbot | Thames Christian School | Thrive | Unique Women | And spoken on TBN, UCB & Premier radio.

Charity Purpose #1 & #2

Core work & outcomes 2022 – 2023: Other Works

Other Projects & Events

Aside from the main activities of The King’s Purse and Basecamp Online we have always anticipated that there will be ad-hoc works or new initiatives that we start or are involved in, to meet our charity objectives.

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Illustration taken from operational plan 2022-2023, submitted
to the Charity Commission during initial application
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Prayer in Epsom for the local churches

From October 2022 to January 2023, we held a series of weekly meetings in Epsom on Sundays. Their purpose was to “wash the feet” of the Epsom churches in prayer. In advance we contacted the local churches and asked anything specific we could pray about for them. We then had an open invitation for people to join us to at those times to pray for the local churches.

Charity Purpose #1

Core work & outcomes 2022 – 2023: Other Works

Other Projects & Events

Aside from the main activities of The King’s Purse and Basecamp Online we have always anticipated that there will be ad-hoc works or new initiatives that we start or are involved in, to meet our charity objectives.

Servants Quarters (SQ24)

This is a new initiative that has started in earnest from early 2023.

SQ24 will be an identifiable team of up to 24 leaders, drawn through the Foundry family from across the body of Christ and gathered to serve and be served.

There are three chief aims:

In gathering this team the charity should be able to demonstrate that we are supporting and catalysing the work that each member is engaged in as they serve in the wider church.

While supporting and building up the individuals who comprise the SQ24 team, we will also intentionally pursue a greater practical unity and collaboration across the wider church, promoting and modelling a culture of co-learning, honour and respect.

More work is currently underway to fully define how SQ24 will exist and operate.

Charity Purpose #1

Financial Review: a snapshot of income, expenditure, operational & King’s Purse cash FY 2022-2023

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Charity Donations/Income The King’s Purse (KP) Ops Expenditure
Contractors: (£24,750)
Donations received: £46,900 Income: £ 23,919 Travel: (£375.77)
(from 51% of gifts to Foundry) Restream: (£342.80)
51% to The King’s Purse: (£23,919) Google: (£289.79)
Grants & Gifts awarded: (£16,700) Insurance: (£259.13)
Squadcast: (£255.36)
Captivate: (£204)
Zoom: (£161.79)
Total Ops Income: £22,981 KP Balance YE: £7,219 Venue Hire: (£175)
Website Domain: (£34.78)
Equipment: (£12.74)
Bank fees: (£4.20)
Total: (£26,865.36)
----- End of picture text -----

Cash Balance YE

Ops Summary

King’s Purse Cash: £7,219 Ops Cash: £4,140.79 Cash in Bank: £11,359.79

Opening Bank Balance: £8,025.15 Ops Income: £22,981 Ops Expenditure: (£26,865.36) Ops Balance YE: £4,140.79

Financial Review : Charity donations & Income

Charity Donations/Income

Donations received: £46,900 51% to the King’s Purse: (£23,919) Total Ops Income: £22,981

We have been blessed by incredible generosity.

There are a number of faithful individuals who have practically supported the vision for The Foundry International with financial donations.

In September 2022, when we received charity status, there was a phenomenal level of giving, with over £29,000 given in that month alone. We’ve since seen average monthly donations of around £2,000 per month.

There have been 14 unique givers across the Financial Year.

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£29,102
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Giving total by month

Financial Review : Charity donations & Income

Charity Donations/Income Gift Aid We have a submitted application for the right to claim Gift Aid on gifts given since Donations received: £46,900 receiving charity status on 30[th] August 2022. In early July 2023 this application was approved. 51% to the King’s Purse: (£23,919) Five of the 14 unique givers have completed Gift Aid forms. The eligible gifts total £33,987 and would be worth £8,496.75 to the charity for the FY. Total Ops Income: £22,981

Financial Review: Overview of operational spend

Ops Expenditure

Contractors: (£24,750) Travel: (£375.77) Restream: (£342.80) Google: (£289.79) Insurance: (£259.13) Squadcast: (£255.36) Captivate: (£204) Zoom: (£161.79) Venue Hire: (£175) Website Domain: (£34.78 ) Equipment: (£12.74) Bank fees: (£4.20)

Total: (£26,865.36)

Technology: We have three main groups of tools we use: Google provides all our email; storage and collaboration tools; Zoom is used to host online meetings; and Restream, Captivate & Squadcast are used to record and distribute training and teaching material.

Restream: £342.80 Google: £289.79 Squadcast: £255.36 Captivate: £204 Zoom: £161.79

Company Operations: there are various administrative or operational costs we’ve incurred.

Insurance: 259.13 Travel: £375.77 (for 3 people to travel to attend key meetings, based in London) Venue Hire: £175 (to hire meeting space for an all-day meeting re. Servants Quarters) Website Domain: 34.78 Equipment: £12.74 Bank fees: £4.20

Contractors: we have engaged two contractors throughout the year to deliver targeted packages of work to help establish the charity, administrate the King’s Purse, and begin practical works to deliver against the Charity’s operational plan.

Contractors: £24,750

Financial Review: Overview of The King’s Purse

An overview of The King’s Purse was provided earlier in “Core Work & Outcomes” – but for completeness, here is a profile breakdown of The King’s Purse across the FY.

----- Start of picture text -----
£20,000.00
Sep-22, £15,864.57
Nov-22, £14,712.50
£15,000.00
Oct-22, £14,078.57
Mar-23, £9,028.31
£10,000.00
Dec-22, £11,849.48 Apr-23, £7,718.18
Feb-23, £7,316.24 Grants
Jan-23, £6,871.01
£5,000.00 May-23, £7,219.00
Jul-22, £1,022.55 Income
Jun-22, £476.85 Aug-22, £1,022.55 Balance
£-
Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23
£(5,000.00)
----- End of picture text -----

----- Start of picture text -----
£(5,000.00)
£(10,000.00)
----- End of picture text -----

Looking Ahead: Review of future actions already noted in this annual report

The following actions have been noted earlier in this report, but are collated here for completeness:

With approval for Gift Aid granted, we will finish setting up the mechanisms for applying for Gift Aid and set a regular schedule for making claims throughout the year.

The King’s Purse - we will continue to ensure that there is a balanced focus on grants/gifts in support of both charitable purposes. But there is freedom for the trustees to pursue one purpose over the other in their discretion.

Basecamp Online: Armoury – The ‘On The Road’ series will be published, with more episodes added throughout the year. Consideration will also be given to how to include a variety of voices and different media.

We will continue with the prudent approach to using contractors, where there is budget and need.

Continue to articulate how SQ24 will be established and run.

These actions will fall within the three broad areas of focus for the next year: teams, finance & activity.

Looking Ahead: Teams

We want to focus on creating a sustainable framework for current and future operations, and therefore better differentiate and diversify roles and functions within the charity.

In Practise, our framework has been:

We plan on establishing a new Executive Team to lead on strategy & direction of travel.

– The Operations team will input into the above to shape and refine but will lead on implementation.

The Trustee team will continue to provide governing parameters and oversight.

The new Servants Quarters (SQ24) team , detailed previously, will be unique in that this is a charity work to invest in these 24 leaders from across the church; we will also look to them to provide leadership and care to the charity’s beneficiaries termed “The Foundry Family” as well as carry some areas of responsibility within the charity’s work.

As part of this move, we will establish new rhythms of meetings for these teams, better articulation of roles and responsibilities, specific proposals regarding personnel and potential volunteers, and to designate team leaders for each of the 4 teams.

New framework:

We will also look to create a pathway for the recruitment of new trustees.

Looking Ahead: Finance

– To date we have operated within budget and been blessed by incredible generosity but we are heavily dependent on a few individuals. We need to work to establish broader, more predictable and robust funding for the charity.

Outgoings :

We believe the key to sustainable income is generosity. We want to give and spend what we can without falling into either recklessness or delay.

Income:

Looking Ahead: Activity

While continuing with the successful activity to date, we will focus future work around five key aims:

Content creation : through Basecamp Online, with the core team creating an initial range of resources, but quickly moving to involve other voices in a variety of ways. This may include more targeted ‘products’ for church leaders, evangelism or those launching new churches. As well as widening the availability and awareness of these resources.

Communal activity : this will involve gathering believers together for the purpose of worship and/or training. This will mostly take place through the ‘live’ aspects of Basecamp Online (especially the Forge, Fireside and regular online prayer meetings) and through Home, our local discipleship work and community in and around Epsom and Kingston. This may also include other tools for collaborative work and communication.

Incubation : this will involve working with individuals or groups within the wider informal Foundry family to see dreams and visions for ministry realised and established. We need to both establish support for existing pioneers within this community and develop strategies (content and communal activity) which will stimulate people into a prayerful pursuit of God for new ministries and expressions.

Adoption : this would involve the adoption of individuals and ministries into The Foundry International for a season of time in order to nurture and support their growth. This may involve us providing a legal, financial or operational context for individuals, groups and teams who are already at work for the Lord. This type of adoption is, of course, not without risk, but we suspect it may become a valuable and powerful aspect of our work.

Launch & release: we have stated from first inception that we will always seek to establish whether specific work or projects can and should be released to be their own work. We will continue to review our activities to consider whether they should continue, be decommissioned or established independently a standalone works outside the aegis of The Foundry International.

Lord God, we thank you for this last year and we recommit ourselves to following you in the year ahead. We ask that you would keep our hearts pure to serve only you – and through doing that, the people around us, your church, the poor and those who don’t know you.

We commit all our plans to you.

“We do not know what to do, but our eyes are on you.”

2 Chronicles 20:12

Appendices

Independent examiner's report to the Trustees on the unaudited financial statements of The Foundry International Limited.

I report on the financial statements for The Foundry International Limited for the year ended 31[st] May 2023 set out on the following pages.

Respective responsibilities of Trustees and examiner

The charity’s Trustees (who are also the Directors for the purpose of company law) are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this period (under Section 144(2) of the Charities Act 2011 (the 2011 Act)), and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility:

Basis of the independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statements below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements:

● to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and

● to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Charles Tait Charles Tait Accounting Limited

Date: 22 January 2024

1

The Foundry International ANNUAL REPORT AND ACCOUNTS

Financial Statements

Financial Statements
Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
Year Ended 31st May 2023
Note
Income from:
Donations
2
Total income
Expenditure on:
Charitable activities
3
Total expenditure
Net Surplus
Total Unrestricted funds brought forward at 1 June 2022
Total Unrestricted funds carried forward at 31 May 2023		 Unrestricted
funds
2023
£
54,925
54,925
43,816
43,816
11,109
-
11,109		 Unrestricted
funds
2022
£
7,422
7,422
7,422
7,422
-
-
-

The Foundry International ANNUAL REPORT AND ACCOUNTS

Financial Statements Balance Sheet

Year Ended 31st May 2023

Current assets
Cash at bank
Liabilities
Creditors: amounts falling due
within one year
Net current assets
Total assets less current liabilities
Funds
Unrestricted funds:		 Note
5		 2023
£
11,359
(250)
11,109
11,109		 2022
£
8,025
(8,025)
-
-

Notes 1 to 6 form part of these financial statements.

The financial statements were approved and authorised for issue by the Board of Trustees on 11/01/2024 and signed on their behalf by:

___________ Mrs J.Shew Trustee

The Foundary International ( Company number 11986581)

Financial Statements Statement of Cash Flows Year Ended 31st May 2023

Cash flows from operating activities
Net income for the year (as per the Statement of Financial
Activities)
Adjustments for:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Cash flows (used in)/generated from operating activities
Cash flows from investing activities
Net cash provided by investing activities
(Decrease)/increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Analysis of cash and cash equivalents
Cash in hand
Cash in bank
Total cash and cash equivalents		 Total
funds
2023
£
11,109
-
(7,775)
3,334
-
3,334
3,334
8,025
11,359
2023
-
11,359
11,359		 Total
funds
2022
£
-
-
1,420
1,420
-
1,420
1,420
6,605
8,025
2022
-
8,025
8,025

The Foundry International ANNUAL REPORT AND ACCOUNTS

Notes to the Accounts

Year Ended 31st May 2023

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Foundry International 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 note(s).

The Trustees are also satisfied with the controls in place for monitoring and flexing the budget throughout the year.

1.3 Incoming resources

Cash donations are recognised on receipt including gift aid. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

2
Income from grants, donations and legacies
Grants for Trust ,Foundations, and churches
Individuals
3
Analysis of expenditure on charitable activities
Grant and Donations -The Kings purse
Professional fees to train and support churches and christians in their mission
Support and governance cost
4
Support Cost
Communication
Insurance
Venue Hire
Travel, Events & Conferences
Printing, Postage and Stationery
Bank charges
Governance costs
Review of Accounts
Total Support and governance cost		 2023
£
-
54,925
54,925
2023
£
16,700
24,750
2,366
43,816
2023
£
1,289
259
175
376
13
4
2,116
250
2,366		 2022
£
-
7,422
7,422
2022
£
-
5,585
1,837
7,422
2022
£
870
-
864
76
13
14
1,837
-
1,837

a) Trustee information

No trustees received any remuneration or other benefits during the year (2022: £Nil). Five trustees served during the year (2022: Five).

Two trustees were paid professional fees , one for £15,390( 2022 £2,860) and another was paid £9,360 (2022 £2,725) One trustee received £283 for travel( 2022 Nil)

b) Employee information

There are no employees working for charity for 2023 and 2022

6
Creditors: amounts falling due within one year
Accruals
Deferred Income		 2023
£
250
-
250		 2022
£
-
8,025
8,025