Ten Foundations (A company limtted by guarantee, not having a share capital) Annual Report and Unaudited Financial Statements for the financial year ended 28 February 2025 Company Number: N1611440 Charity Number: 100909
Ten Foundations (A company limited by guarantee. not having a share capital) CONTENTS Page Reference and Administrative Information Trustees. Annual Report Statement of Trustees. Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10-13
Ten Foundations (A company limited by guarantee. not having a share capital) REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Arlene Monroyo Colin James Wdsh (appointed l June 2025) Eileen McGuigan lan Campbell Mark Congdon Sarah Cushnan Charity Number in Northern Ireland 100909 Company Registration Number N1611440 Registered Office and Principal Address 355 Lisburn Road Belfast BT9 7EP Independent Examiner Malone Accounting Ltd 12 Causeway Road NEWCASTLE Down BT33 ODL Northern Ireland Principal Bankers HSBC 5 Doneg1 Square SoLrth Belfast County Antrim BTI 5JP Northern Ireland
Ten Foundations (A company limited by guarantee. not having a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 28 February 2025 The trustees present their TTUStees' Annu Report. combining the Directors, Report and Trustees, Report, and the unaudited financial ateMentS for the financial year ended 28 February 2025. The financial statements are prepared in accordan wth the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accountsng and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their tinancial statements in accordance with the Financial Reporung Sndard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Report contains the information required to be provided in the TrueeS, Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the cornpanls constitution are known as members of the board of trustees. In this report, the trustees of Ten Foundalions present a summary of its purpose. governance. activities. achievements and finances for the financial year 28 February 2025. The charity is a registered charity and hence the repon and results are presented in a form which complies with the requirements of the Companies Act 2006 and. thOUgh not obliged to compty with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. Principal Activity Ten Foundations seek5 to benefit children and young people who need assistance as a result of their povety, health or health, and economic circumstances in the Philippines. Our focus is not on raising money for the short-term and providing easy aid, but instead io work towards a SUstnable future for these women (we call them the -mothersJ in need by providing ihem with life-long skills that can help ihem earn money in ways (hey would othemise be unable to. We buy industrial level sewing machines for the women to make schoolbags with and develop their own skill set, enabling them to create a path towards earning and caring for their families and themselves. Objectives Ten Foundations ('Ihe Company-} seeks to benefit children and young people who need assislance as a resuh of their poverty, health or health, 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 accommodation to allow homeless children to live. learn, grow and develop and to have any medicaj needs addressed. The foundation provides support through= l. The provision of accotnmodation and support to young homeless people. 2. A regular feeding prograrnme to families in the comtnunity and schools to supplement inadequate diets. 3. Providing equipment, skills. trnIng and logistic support to family group5 and individuds lo manufacture products for sale locally and internatiOnty 4.Awarding educational bursaries.
Ten Foundations (A company limited by guarantee. not having a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 28 February 2025 Performance Employment & Livelihood Programme Ten Foundations employs 80 people in the Philippes. comprising staff and mothers in the livelihood programme. Scholarship Programme We support 10 scholars with 2 graduatsng during the year. AIRBNB Kubos Construction of our Kubos is complete and they are now ready to accept guests, generating much needed local income. Community Events Events included a fun run and a medical mission at Bayanihan Village. Northern Ireland Activities We have had a successful year wth strong schoolbag sales and community engagement across Belfast and beyond. Financial Results At the end of the financial year the charity has assets of £2.843 (2024- £10,161) and liabilities of £0.00 (2024 - £0.00). The net assets of the charity have decieased by £(7.318). Trustees The trustees who setved throughout the financi year, except as noted, were as follows: lan Campbell Sarah Cushnan Arlene Monroyo Eileen McGuigan Mark Congdon In accordance with the Constitution. the trustees retire by rotalion and. being eligible. offer themselves for re-election. Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. Ten Foundations subscribes to and is compliant with the following= The Companies Act 2006 The Charities SORP (FRS 102) Approved by the Board of Trustees on 18 November 2025 and signed on its behalf by: lan Campbell Trustee
Ten Foundations (A company limited by guarantee. not having a share capital) STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 28 February 2025 The trustees, who are also directors of Ten Foundations for the Purposes of company law, are responsible for preparing the financial statements in accordance wilh applicable law and regulations. Company law requires the trustees as directors to prepare financial statements ft)r each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees must noi approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for that period. In preparing these financial statements, the ttustees are required to= select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent.. stale whether the financial statements have been prepared in accordance with the relevant financial reporting framework. identify those standards, and note the effect and the reasons foi any material departure from those standards., and prepare the financial statements on the going concern basis unless tt is inappropriate to presume that the charity will continue in operation. The trustees conffirm that they have complied with the above requirements in preparing the financial statements. The trustees are responsible for keeping adequate accounting records that are sufftcient to show and explain the charity's transactions and disclose wth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for (he preveniion and deieciion of fraud and other irregularities. Approved by the Board of Trustees on 18 November 2025 and signed on its behalf by: lan Campbell Trustee
Ten Foundations (A company limited by guarantee, not having a share capital) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF TEN FOUNDATIONS We have examined the financial statements ofthe charity for the financial year ended 28 February 2025. which comprise the Statement of Financial Activities (incorporating 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 accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the fi'nancid statements that we have been engaged to compile, report to the Board of Trustees that we have done so, and stale those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the chariws members, as a body, for our work, or for this report. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial ststemenls in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financi year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to.. examine the financial statements under section 65 of the Charilies Act- follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.. and state whether particular matters have come to our attention. Basis of independent examiner's report We have examined your charity's fi'nancid statements as required under section 65 of the Charities Act and our examination was carried out in accordance wth the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial staiements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the 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 fr, view and the report is limited to those matters set out in the slatement below. Independent examiner's 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 with seciion 386 of the Companies Aci 2006 the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) there is further information needed for a proper understanding of the accounts to be reached. We 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 lo enable a proper understanding of the financial sktements to be reached. VMAI Aidan Malone (FCA) Malone Accounting 12 Causeway Road NEWCASTLE Down BT33 ODL Northern Ireland Date: 18 November 2025
Ten Foundations (A company limited by guarantee. not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) for the financial year ended 28 February 2025 Unrestricted Funds 2025 Total Unrestricted Funds Funds 2025 2024 Total Funds 2024 Notes Incoming Resources Voluntary Income Activities for generating funds 72.025 201,747 72.025 201,747 67,690 211,241 67,690 211,241 Total incoming resources 273,772 273,772 278.931 278,931 Resources Expended Raising funds Charilable activities 38,668 242,422 38,668 242,422 32,311 246,663 32,311 246,663 42 Total Resources Expended 281,090 281,090 278,974 278,974 Net incomingloutgoing resources before transfers (7,318) (7,318) (43) (43) Gross transfers between funds Net movement in funds for the financial year (7,318) (7,318) (43) (43) Reconciliation of funds: Total funds beginning of the year io 10,161 10,161 10,204 10,204 Total funds at the end of the year 10,161 10,161 The Statement ol Financial Activwties includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing aclivitses. The notes on pages 10 to 13 form part ot the ffinanci statements
Ten Foundations (A company limited by guarantee. not having a share capital) Company Number: N1611440 BALANCE SHEET as at 28 February 2025 2025 2024 Notes Current Assels Cash at bank and in hand 10,161 Net Current Assets 10,161 Total Assets less Current Liabilities 10,161 Funds General fund (unrestricted) 10,161 Total funds io 10,161 These fftnanci statements have been prepared in accordance with the Speci provisions relating to small companies within Part 15 of the Companies Act 2006. For the financial year ended 28 February 2025 the charity was enlliled to exemption from audit under section 477 of the Companies Act 2006,. and no notice has been deposited under section 476. The trustees confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a Irue and fair view of the state of affairs of the charity as at the end of the fi'nancid year and of its profit and loss for the fi'nancial year in accordance with the requirements of sections 394 and 395 and which otheise comply with (he requirements of (he Companies Act 2006 relating io financial statements, so far as applicable to the charity. Approved by the Board of Trustees and authorised for issue on 18 November 2025 and signed on its behalf by lan Campbell Trustee The notes on pages 10 to 13 form part ot the ffinanci statements
Ten Foundations (A company limited by guarantee, not having a share Capit? NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 28 February 2025 GENERAL INFORMATION Ten Foundations is a company limited by guarantee incorporated in the United Kingdom. The regisiered oflice of the company is 355 Lisburn Road, Belfast. BT9 7EP which is Jso the principal place of business of the company The financial statements have been presented in Pound (E) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistenty in dealing wilh items which are considered material in relation to the charity's financial statements. Basis of preparation The financial statements have been prepared on ihe going concern basis under the historical cost convention. modified to include certain items al fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice {SORP) '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" As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Actiwties and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance wth section 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial statements of the charity for the financial year ended 28 February 2025 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance wth the Financiaj Reponing Standard applicable in the UK and Republic of Ireland FRS 102" Cash flow statement The charity has availed of the exemplion in FRS 102 frotn the requirement to produce a cash flow statement because it is classified as a small charity. Fund accounting The following are the categorises of funds maintained= Unrestricted funds Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes. Incoming Resources Voluntary income or capital is included in the StateTnent of Financial Activities when the charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by ihe executors. Income received in advance of due performance under a contract is accounied for as deferred income until earned. Grants for activities are recognised as income 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 accruals basis. Charitable activities include costs of services and grants, support costs and depreciats.on on related assets. Costs of generating funds similarfy include 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. io
continued Ten Foundations (A company limited by guarantee, not hawng a share caprtal) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 28 February 2025 Taxation The company is a Tegistered charity and the charilable tax exemptions are therefore being c1med io the extent that income andlor gains are applicable and applied to chariiable purposes only. These exemptions will remain in place as long as income and expenditure is applied to charitable purposes only. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2025 2024 Donations and legacies 72.025 72,025 67,690 OTHER TRADING AcTIVlEs Unrestricted Restricted Funds Funds 2025 2024 Charity shop & Bag Sales 201.747 201,747 211,241 EXPENDITURE RAISING FUNDS Direct Costs Other Costs Support Costs 2025 2024 Shop Running Costs 22,990 15,678 38,668 32,311 CHARITABLE ACTIVMES Direct Costs Other Costs Support Costs 2025 2024 Projects in the Philippines Governance Costs (Note 4.3) 238,269 1,602 2,551 240,820 1,602 244,805 1,858 239,871 2,551 242,422 246,663 GOVERNANCE COSTS Direct Costs Other Costs Support Costs 2025 2024 Charitable aclivities - governance costs 1,602 1,602 1,858 ANALYSIS OF SUPPORT COSTS 2025 2024 General Office Motor Expenses Telephone Mainienance Subscriptions 7,243 3,625 2,551 2.533 2,277 4,661 2,153 4,021 3,321 370 18,229 14,526 li
continued Ten Foundations (A company limited by guarantee, not hawng a share caprtal) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 28 February 2025 NET INCOMING RESOURCES 2025 2024 Net Incoming Resources are stated after chargingl(crediting): Independent Examiner's remuneration= independent examination services 1,602 1,858 EMPLOYEES AND REMUNERATION The Charity had no employees during the period. TANGIBLE FIXED ASSETS Plant and machinery Total Cost At 28 February 2025 6,000 6,000 Depreciation At 28 February 2025 6,000 6,000 Net book value At 28 February 2025 RESERVES 2025 2024 Al the beginning of the year Deficit for the financial year 10.161 (7,318) 10,204 (43) At the end of the year 10,161 io. FUNDS 10.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At l March 2023 Movement during the financid year 10,204 (43) 10,204 (43) At 29 February 2024 Movement during the financid year 10,161 (7,318) 10,161 (7,318) At 28 February 2025 10.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance l March 2024 Income Expenditure Transfers Balance between 28 February funds 2025 Unrestricted funds General 10.161 273.772 281.090 2,843 Total funds 10,161 273,772 281,090 12
continued Ten Foundations (A company limited by guarantee, not hawng a share caprtal) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 28 February 2025 10.3 ANALYSIS OF NET ASSETS BY FUND Current assets Total Unrestricted general funds 2,843 2,843 2,843 ii. STATUS The charity is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertakes to contribute 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 ihe debts and liabilities of the company contracted before they ceased to be members. and the costs. charges and expenses of winding up, and for the adjustment of the rights of the contributors among ihemselves. such amount as may be required. not exceeding £ l. RELATED PARTY TRANSACTIONS It is the policy of Ten Foundations that no remuneration is paid to Truslees. All SeICe5 rendered by Trustees are voluntary. There have been no related paty transactions in (he reporting period that require disclosure. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 13