FOUNDATIONS Ten Foundations {A Company Ilmlted by guarantee, not havlng a shar• capltall Annual Report and Unaudited Flnancial Statements for the financlal year ended 29 February 2024 Company Number: N1611440 Charlty Number: 100909
Ten Foundations IA company Ilmlled by guarant••. not havlng a sharn capltall CONTENTS Page Ref&r8nc8 and Administrative Information Trustees. Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Slalements 10-13
Ten Foundatlons IA company Ilml¢ed by guarant••. not havlng a share capltall REFERENCE AND ADMINISTRATIVE INFORMATION Trustees lan Campbell Sarah Cushnan Arlene Monroyo Eileen McGuigan Mark Con9don Charlty Number In Northern Ireland 100909 Company Reglstration NUfflr N1611440 Règlstered Offlce and Prlnclpal Address 355 Lisburn Road Belfast BT9 7EP Indopendent Examlner Malone Accountlng 12 New Street Newry County Down BT35 6JD Prlnclpal Bankers HSBC 5 Donegall Square South Belfast County Anlrlm BT1 5JP Northern Ireland
Ten Foundations IA company Ilmlt•d by guarantse. not havlng a ghare capllal) TRUSTEES. ANNUAL REPORT for the financial year ended 29 February 2024 The trustees present their Trustees. Annual Reporl, combining the Directors, Report and Trustees, Ret)ort, and the unaudited financial statements for the financial year ended 29 February 2024. The financial statements are prepared in accordance vthh the Companies Act 2006. FRS 102 'The Financial Repofts'ng Standard applicable in the UK and Republic of Ireland" and Accounling and R8POrting 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 Irdand {FRS 1021. The Twslees. Repori contains the infom)alion required to be provided in the Trustees. Annual Report under the Slalemenl of Recommended Praclice ISORPI guidelines. The trustees of the company are also charity trustees lor the purpos8 of charity law and under the company's constitution are known as members of the board of trustees. In this Teport, the Iruslees ofTen Foundations pffjsent a summary of its purF4)se, governance. adivities, achievements and finances for the ffinancial year 29 February 2024. The chafity is a registered charity and hence the repjrt and resuts are presented in a form which complies with the requiremanls of the Companies Act 2006 and. although not oblKJed lo comply with the Statement of Recommend8d Praclice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented its recommendations where relevant in these financial statements. Mlsslon, Objectlvas and Strategy Objectlves Ten Foundath)ns {"Ihe Company-l seeks lo benefft children and young people who are in need of assislance as a result of their poveriy, health or social and economic circumstances in the Philippines. The direct benefit flowing from the Company's povety relief work is the provision of safe and secure sheltered accommodatlon to allow homeless children lo live, leam. grow and develop and lo have any medical needs attended lo. The foundation provides support through: 1. The provfjsn of accomm(MJation and support lo young homeless people: 2. A regular feeding programme to families in Ihe community and schcds to supplement inadequate diets,. 3. Providing equipment. skills. training and 1ts3islical support lo family groups and individuals to manufacture products lor sale locally and internationally, 4. Awarding educational bursaries. Revlow of Actlvlties, Achievements and Performanc? We are pleased to present the Trustees, Report for Ten Foundations, summarizing our progress and key achievements during the period from 1st March 2023 10 28th February 2024. Our core mission remains focused on improving livelihoods. emwwering vulnerable communities, and promoting fair Irade and global citizenship. 8elow is an oveNiew of the main developments over the past year. Livelihood Programme Our liveliho¢>J programme continues lo grow and empower mothers. providing them with sustainable income opportunities. We now have 70 mothers employed in the programme, with 4 new mothers joining over this reporting period. This inilialive not only offers them financial stability bJl also FQSitively impacts their families and communities. Housing Project In response lo the inadequate living conditions many of our programme participants face, launched a new housing project this year. The first major milestone was achieved Vth the purchase of 1 hectare of land through a deposit payment. Over the next few years. 40 homes will be constructed for the mothers involved in our prograrnme. These homes will greatly improve their living Slanoards and offer security for their families. To support this effort, volunteer teams from Ireland will assist in the building process. making this project a truly collaborative effort. Schoolbag Production and Education Outreach Our schoolbag production is expanding as more motrS join the programme. These fair-trade schoolbags have bècom8 a vit81 part of our educational outreach iniliatives. This year. we shipped a full container of schoolbags lo Ireland in preparation for our school visits. During these visits. we engage wth students to discuss important topi¢s such as fair trade, global crtizenship, and the wortd around us. These interactK)ns foster awareness and understsnding of the positive global impact of ethical consumerism.
Ten Foundations IA company Ilmlted by guarantee. not havlng a share capltsll TRUSTEES. ANNUAL REPORT for the financial year ended 29 February 2024 Allernalive Leaming System (ALS) We are proud to report that one of our programme participants. Darwena. successfully passed her Allernalive Leaming System IALSI exams. She will now begin her joumey into high school, a snifan1 achievernenl that highlights th6 transfomalive power of education within our community. Looking Forward In the coming year. we are excited to conts'nue expanding our livelihood Prramrne. build new homes, and enhance our educational outreach inilialives. The progress we have made so far is lY possible thanks to the dedication of our team, volunteers, and supporiers. Conclusi)n The Trustees express their deep appreciation to all who have contributed lo Ten Foundations over the past year. Wè remain committed lo our mission of cr8aling lastirvJ change, improving livelihoods, and fostering education and awareness for a better future. Flnanclal Results Al the end of the financial year the charity has aet$ of £10.161 (2023- £10.2041 and liabilities of £0.00 {2023 - £0.00). The net 85sels of the charity have decreased by £1431. Trustee$ The Iruslees who served throughout the finanrial year. excapl as noted. were as follows.. lan Carnpbell Sarah Cushnan Arlene Monroyo Eileen McGuigan Mark Congdon In accordance with the Con$litution. the trustees retire by rotstion and. being eligible, offer themselves for re-election. Compllance wlth Se¢tor-WSde Leglslatlon and Standards The charity engages pro-8clively wilh legislalion. standards and codes vthich are developed for the sector. Ten Foundations subscribes lo and is compliant with the following". The Companies Act 2006 The Charities SORP IFRS 1021 Approv•d by the Board of Trust••• on 2 October 2024 and $lgn•d on Its beh•ff by: Cajyedl lan Campbell Trustee
Ten Foundatlons IA company Ilmltad by guarant••, not havlng a shar• capttal STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 29 February 2024 The trustees, who are also directors of Ten Foundations for the purposes of company law, are responsible for preparing the financial slalements in accordance with applicable law and regulations. Company law requires the Iruslees as Ihe directors to prepare financial slalemenls for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice {Uniled Kingdom Accountin9 Standards and applicable lawl including FRS102 "The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. Under company law the trustees must not approve the financial statements unless they are satisfied Ihal they give a true and fair view of the state of affairs of the charity and of the nel income or expenditure of the charity for that period. In preparing these financial slalemenls, the trustees are requId to: select suitable accounting policies and apply them consistently.. make judgernents and estimal8s that are reasonable and prudent., slate whether the finanoal statements have been prepared in accordance with the relevant financial reporting framework, entify those stsndards. and rK)le Ihe effect and the reasons for any material departure from those standards,. and prepare the financial slalements on the goiry concem basis unless il is inappropriate lo presume that the charity will continuè in operation. The Irustaes confim that they have complied wilh the above requirements in preparing tho financial statements. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disdose with roasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with The Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prèvonlion and deleclion Of fraud and other irregularities. Approved by the Board of Tru$teo$ on 2 October 2024 and slgnod on Its b•half by: lan Campbo11 Trust00
Ten Foundations IA company limited by guarantee. not havlng a $har¢ ¢apiiall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF TEN FOUNDATIONS We have examined the financial slalemenls ofthe charity for the financial year ended 29 February 2024, which comprise the Statement of Financial Activities lincnrporaling an Income and Expenditure Account), the Balance Sheet and the related notes. This report is made solely to the charity's members. as a body. in a¢¢ordance with Chapter 3 of Part 16 ofthe Cornpanies Act 2006. Our worf( has been undertaken so that we might compile the financial statements that we have been engaged lo compile, report lo the Board of Trustees that we have done so. and slate those matters that we have agreed lo slate lo them in this report and for no other purpose. To the ftjllest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the chartty's members. as a bcNJy. for our work, or for this report. Respective responslbllltles of trustees and examlner The charity's Iruslees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. The chanty's trustees consider that an audit is not required lor Ihis financial year under Chapter 3 of Parl 16 of the Companies Act 2006 and that an Fr)dendent examination is required. 11 is our responsibility to.. examine the financial statements under section 65 of the Charities Act., follow the ProdureS laid down by the general Direcbons given by the Charity Commission for Northern Ireland under section 65{9llbl of the Charities Act. and slate whether particular matters have come to our attenti(. Basis of independent examinerfs report We have examined your charity financial statements a5 required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65{9llbl of the Charities Act. An examination includes a review of the accounling records kept by the charity and a comparison of the financial statements presented with those rerds. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from Ihe trustees conceming any such matters. The Pfocedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whetheT the accounts present a 'lrue and fairf view and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with our examination. no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordance viilh section 386 of the Companies Act 2CNJ6 the financial slatements do not accord with those accounting records the financial slalements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles ofthe Stalemenl of Recommended Practice applicable lo charrties preparing their accounts in ac(x)rdance wrth the Financial Reporting Stsndard applicable in the UK and Reputrjlic of Ireland IFRS1021 there is further infomation nled for a proper understanding of the accounts to be reached. We have no concems and have come across no other matters in cneCtIon with Ihe examination to which allenlion should be drawn in this report in order lo enable a proper urmjerslanding of the financial statements to be reached. Aidan Malone {FCAI Malone Accounting 12 New Street Newry County Down BT35 6JD Date:2 October 2024
Ten Foundations IA company Ilmltèd by guarantee. not havlng a share capttal) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatlng an Income and EXndfitU Account) for the finanaal year ended 29 February 2024 Unrestricted Funds 2024 Totsl Unrestricted Funds Fund5 2024 2023 Totsl Funds 2023 Notes Incomlng Resources Voluntary Income Activities for generating funds 67.690 211,241 67.690 211.241 98,702 192.732 98,702 192,732 Total Incomlng resources 278.931 278,931 291.434 291,434 Resources Expended Raising funds Charitable activities 32.311 246,663 32.311 246.663 57.903 248.927 57,903 248,927 Total Resources Expended 278,974 278.974 306.830 306.830 Net incomingloutgoing resources before transfers (43) 1431 {15,3961 115.3961 Gross transfers between fvnds Net movomont in funds for the financial year (43) {431 115,396) I15.3) Re¢onciliation of funds: Total funds beginning of the year 10 10.204 10,204 25.600 25,6(KJ Totsl funds at the end of the year 10.161 10,161 10,204 10,204 The Statement of Financial Activities indudes all gains and losses recognised in the financial year. All income and expendrture relate to continuing adivilies. Th8 notès on pages 10 to 13 ffc part olthe finanoal staternents
Ten Foundations A ¢ompany Ilmlt¢d by guarantso. not havlng a share capltal} Company Number: N1611440 BALANCE SHEET as al 29 rebruary 2024 2024 2023 Notes Current Assets Cash al bank and in hand 10.161 10.204 Net Current Assets 10.161 10.204 Total Assets less Current Llabillties 10.161 10.204 Funds General fund {unrestrictedl 10.161 10.204 Total funds 10 10,161 10.204 These financial statements have been prepared in accordance with tho special provisions relating lo small companies within Part 15 of the Companies Act 2006. For the financial year ended 29 February 2024 the charity was enb.lled lo exemption from audit under section 477 01 the Companies Act 2IX16' and no notice has been deposited under section 476. The Iruslees confirm that the mamr$ have not required the company lo obtain an audit of its financial statem8nts for the financial year in question in accordance wilh section 476 of Ihe Companies AGI 2006. The trustees acknowledge their responsi111185 for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial slalemenls which give a true and fair view of the state of affairs of the charity as al the end of the financial year and of its profil and loss for Ihe financial year in accordance with the requiremonls ol sections 394 and 395 and which otherwise comply wlth the requirements of the Companies Acl 2006 relating lo financial slalemenls, so far as applicable lo the charty. Approved by the Board of Truslees and authorls•d for l•¥u• on 4 October 2024 and $19n•d on Its behalf by lan Campbell Tru$ts• The notès on pages 10 to 13 f(ffii part of the financia stalements
Ten Foundations IA company Ilmlted by guarante8. nat havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial yeaf ended 29 February 2024 GENERAL INFORMATION Ten Foundations is a company limrted by guarantee Irrporated in the Unrted TrQ"ngdom. The registered office of the company is 355 Listyjm Road, Belfast. BT9 7EP which is also the principal place of business of the company The financial statements have been presented in Pound {£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The ft)Ilowing accounting policies have been apFAied consistentty in dealing wth items which are considered material in relation lo the charity'5 financial statements. Basis of preparation The financial statements have been prepared on the going concem basis undef the historical cost convention. modified to include certain items at fair value. The financial stslernents have been prepared in accordance wrth the Ststemenl of Recommended Practice ISORP) "Accounting and Reporting by Charities preparirig their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102-. As pemiitted by the Companies Act 2006. the charity has varied the standard fomiats in that aci for the Slalement of Financial Activities and the Balance Sheet. Departures from the standard fomiats are ID comply with the requirements of the Charities SORP and are in o)mpliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compllance The financial statements of Ihe charity for the ffinancial year ended 28 February 2024 have been prepared on the going concem basis and in accordance with the Staternent of Recommended Practice ISORPI 'Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102.. Cash flow statement The charity has availed of the exemption in FRS 102 from the requirement lo produce a cash llow slalement because It is classified as a small charity. Fund ac¢ountlng The following are the categorises of funds rnaintained= unStrICted funds Unrestricted Funds are donations and other incoming resourc£s received or generated for the charitable purposes. Incomlng Resources Voluntary income or capital is included in the Statement of Financial Activities when the ¢harity is legally enlilled lo it, Ils financial value can be quantified with reasonable certainty and there is reasonable certainly of ils ultimate receipt. Enlillemenl lo 8¢le5 is considered eslablished when the charity has been notified of a distribution lo be made by the executors. Income received in advance of due perfom)ance under a contract is accounted for as deferred income until eamed. Grants for activities are wognised as IrMe when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis. Resources Expended All resources expended are accounted for on an accnjals basis. Charitable activities include costs of services and grants, support costs and depreciation on related assets. Costs of generating funds similarly indude fundraising activities. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months, notice of withdrawal. 10
continued Ten Foundations IA company limited by guarantee, not havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 29 February 2024 Taxation The company is a registered charity and the charitable lax exempts'ons are therefore being claimed to the ext8nt that income andlor gains are applicable and applied to charitable purposes only. These exemptions will remain in place as long as inGome and expenditure is applied to charitable purposes only. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Donations and legacies LFT Charilable Trust 67,690 67,690 93,702 5,000 67,690 67.690 98,702 Activities for Generating Funds Unrestrlctod Restricted Funds Funds 2024 2023 Charity shop incom8 & bag sales 211.241 211,241 192,732 211,241 211,241 192,732 EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs 2024 2023 Shop Running Costs 19,548 12,763 32,311 57,903 CHARITA8LE ACTIVITIES Direct Cosls Other Costs Support Costs 2024 2023 Projects in the Philippne$ Governance Costs (Nate 4.3) 243,042 1,858 1,763 244,805 1,858 247,721 1,206 244.900 1,763 246,663 248,927 GOVERNANCE COSTS Dlrect Costs Other Costs Support Costs 2024 2023 Charitable actsvities- govemance costs 1,858 1,858 1,206 11
continued Ten Foundations IA ¢ompany Ilmited by guarantee. not having a share capltsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 29 February 2024 ANALYSIS OF SUPPORT COSTS 2024 2023 General Office Telephone Maintenance Motor Expenses Subscriptions 4,661 4,021 3.321 2.153 370 4,074 2,810 2.691 2.058 417 14.526 12,050 NET INCOMING RESOURCES 2024 2023 Net Incomlng Resources are stated aftor charglngl{credltlngl: Independent Examinerfs remuneration.. Independent eXaMinatn services 1.858 1.206 EMPLOYEES AND REMUNERATION The Charity had no ernOyeeS during the period. TANGIBLE FIXED ASSETS Plant and machlnery Total Cosl At 29 Febwary 2024 6,000 6,000 D•prnclatlon Al 29 February 2024 6,000 6,000 Not book valu• Al 29 February 2024 RESERVES 2024 2023 Al the beginning of the year Deficit for the financial year 10.204 {43) 25.600 115,3961 At the end of the year 10,161 10,204 12
continued Ten Foundations IA company Ilmlted by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the fi'nancial year ended 29 February 2024 10. FUNDS 10.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcted Funds Total Funds Al 1 Mafch 2022 Movement during the financial year 25,600 115,3961 25.600 {15,3961 Al 28 February 2023 Movement during the financial year 10.204 (431 10,204 143} At 29 February 2024 10.161 10,161 10.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 March 2023 Income Exnditurfr Transfers Balance between 29 February funds 2024 Unrestrlcted funds General 10.204 278.931 278.974 10,161 Total funds 10,204 278.931 278.974 10.161 10.3 ANALYSIS OF NET ASSETS BY FUND Currenl assets Total Unrestricted general funds 10,161 10,161 10.161 10.161 11. STATUS The chaiity is limited by guarantee not having a share capitsl. The liability of the members is limited. Every member of the company undertakes to contrityjte to the assets of the company in the event of its being wound up while they are members, or within one year thereafter, for the payment of the debts and liabilities of the company conlracled before they ceased to be members. and the costs, charges and expenses of winding up. and for the adiustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £ 1. 12. RELATED PARfY TRANSACTIONS 11 is the policy of Ten Founlations that no reMUneratiC is paid to Trustees. services rendered by Trustees are voluntary. There have been no related paty transactions in the reporting period that require disclosure. POST4ALANCE SHEET EVENTS 13. There have been no significant events affecting the Charity since the financial year*nd. 13