Company registration number.. N1633966 Charity registsation number.. 104167 The Francina Foundation (A company limited by share capital) Annual Report and Financial Statement5 for th¢ Year Ended 31 October 2021
The FraDciDa Foundation Contents Ref¢Ten and Administrative Details Trnstees, Report 2tr>4 Independent Examinei's Report Statement of Financial Activities Balan¢e Sheei Notes io the Financial Statements 8t012
The Francina Foundation Reference and Administrative Detalls Trustees Mr Gary mu9]d Mr S8mu¢l W Marcus Mr Charles Mcconnell Mrs Lorraine McAllister {d¢ceased 06101r2022) Mr Gary McQuoid Secretary Charity Registratlots Number 104167 Company Registration Number N1633966 The eharity is incorporated in Northern Ireland. 196 Ballymoney Road Ballymena Co Antrim BT43 5HG Regl$tered Office IDd¢pendeni Exatniner D T Carson & Co 51-53 Thoma5 Street Ballymena Co. Antrim BT43 6AZ Solicitors.. Cleaver Fulton Rankin Ltd 50 Bedford Street Belfast BT2 7FW Bankers Danske Bank Donegall Square West Belfast Business Centre P.0. Box 183 Donegal Square W¢st B¢lfast BTI 6JS Page I
The Francina Foundation Trnstees, Report The trnStees, who are directors for the purposes of company law, present the atlljual report together with the financial stst¢ments of the charitable company for the y¢ar ended 31 October 2021. Obje¢live5 aDd aetlvities Objects amd alms The Francina Foundation is a Limited company with charitable statu5 and has been operating since November 2015. The PUTpose of the Francina Foundation is.. To support children in homes and orphanages within India and to res¢ue and provide refvge for girls sold into prostitution and to enable Indian partner5 to support lheir local conllnunities. For the foreseeeble fvttwe the charity will continue to provide funding for NGO'S in India to facilitate the puryoses outlined above to continue. Public benefil The shaping of the objectives has been influenced by the Charity Commission Nl's guidance on public benefit and the following direct benefits have been identified.. a) Prevention and relief of poverty b} Enhancement of education for ben¢ficiarie5 Th¢ tTUStees confirni that th¢y have complied with th¢ requirements of section 3 of the Charities Act (Northern Ireland) 2008, as amended by the Charities Act INorth¢m Ireland) 2013, to have due regard to the Pllblie benefit guidance published by the Charity Commission for Northern Ireland Aehievements and peyformance As evid¢n¢ed in the financial statements the objectives t(Tr raise sufficient ndS for the in-county partners io meet the needs of the partners as dsscus5¢d at quarterly management meetings. This past y¢ar significant funds continued to be Collected and donated to alleviate the Covid 19 pandemic. Financial revlew Pollcy on reserves The Francina Foundation only makes grants to properly constituted, recogni5ed organisations within India which have been subj¢¢t to vetting by the Director5. The Francina Foundation does not hold any reserves, rather wishing to ensuTe those providing contributions to the charity that eVehIng that 15 donated will go towards meeting the objectives. Certain donations have been made to the charity with ih¢ express remit to be allocaied io the administrative functions of the charity. Page 2
The Francina Foulldatlon Trustees, Report Plans for future perlod5 Aints and key ob}ecilvesforfuthreperiod5 The Directors continu¢ to raise fid$ for the objectives and this will look to raise a fi]rther £50,000 to enable a further assessment of in country (India) prioriiies to be undertaken. Truste¢s and offlcers Th¢ tNstee5 and offi¢ers serving during the year and since th¢ year end were as follows- Trustee$: Mr Gary McQuoid Mr Samuel W Marcus Mr Charle5 Mcconnell MT5 Lojraine McAlltster {de¢eased 0610112022) Strllcturey governattce and management Arrangemeutsforseltliig key m&nagentÉnlpersoiinelremUneMOn No remuneration is paid to key management. Page 3
The Francina FoundatlOD Trust¢es' R¢port St*ternent of Tru51e¢s' Responsibilities The trustees (who are also the directors of The Froncina Foundation for the purposes of company law) are Tesponsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Gen¢rally A¢¢epted A¢couJiing Practi¢¢) and applicable law and regulations. Company law requires the tru5tee5 tg prepare f]nancial stat¢m¢nts for ¢a¢h fJnan¢ial y¢ar. Under company law the trustees mtsst not approve the financial ststernents unle$5 they ar¢ 5atlsfied that they give a true and fair view of the stste of affairs of the charitable cornpany and (Trf Éts incoming resource5 and application of re50urce5, including its incorne and expendÉture. for that period. In preparing these fUicial 5tatemeDts, the trustees are required to.. select suitable accounting policies and apply them consistently> observe the m¢thods and prin¢ipl¢s in the Charitie5 SORP- make judgements and estimates that are reasonable and pnthnt. state whether applicabl¢ UK A¢counting Standards hav¢ been followed, subject to any material d¢partur¢s disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to PTesume that the charitable cornpany will continue in business. The trustees are re5pon5ible for keeping ad¢quate ac¢ounting r¢¢ords that are 5uffici¢nt to show and explain th¢ charitabl¢ company's tran5a¢tions and discl(Tr5¢ with reasonable ac¢uTaoy at any tim¢ the fancial p951tion of th¢ charitabl¢ company and ¢nabl¢ them to eDsur¢ that the fiDanci8l 5tat¢ments comply with the Cornpanie5 Att 2006. Th¢y are a150 Tesponsible for safeguardiT)g the asset5 of the ¢haritabl¢ Company and hence for taking r¢a50nabl¢ s¢¢ps for the pi¢v¢ntion and d¢t¢ction of fraud and oth¢r ]egularitieS. The annual r¢port was approved by the tru5t¢es of the tharity on 10 June 2022 and 5ign¢d on its b¢half by.. Mr Gary McQuoid Company S¢¢r¢tary and Trstee Page 4
The Fran¢ina Foundation Independent Examiner's Report to tbe trustees of The Francina Foundation ("the Company") I report to the charity tnjstees on my examination of the accounts of the Company for the year ended 31 October 2021. Responsibilities and basis of report As the charity's trustees of The Franetna Foundation (and also its directors for the PUTposes of company law) you are responsibl¢ for the preparation of the account5 in accordance with the requirements of the Companie5 Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of The Francina Foundation are not required to be audited under company law and are eligible for independent examination, I report in respect of Tny examination of your charity'5 accounts as caLed out under section 65 of th¢ Charitie5 Act (Northem Irelalld) 2008. In earrying out rny exatnination I have followed the Directions given by the Charity Commission for Northern Ireland under Section 65{9)(b) of the Charitie5 Act. Independeht examiner's staternent I have ¢ompleted my examination. I confirni thai no matters have come to my attention in conne¢¢ion with the examination giving me cause to believe.. accounting re¢ords were not kept tn respect of The Francina Foundation as requited by section 386 of the 2006 Act. or 2. the accounts do not a¢cord with those records. or 3. the accounts do not comply with the 8¢counting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent exaTnination' or 4. the accounts have not been prepared in accordance with the merhods and principles of the Statement of R¢¢ommend¢d Practic¢ for accounting and reporting by charities lapplicable to charities pr¢paring their ac¢ounts in a¢cordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)]. I have no concerns and have come a¢ross no oth¢r matters in Connection with the ¢xamination to which attention should be drawn in this report in ord¢T to enable a proper understanding of the accounts to be ttached. John Hamil D T Carso Chartered ountants & Re81St¢red Auditors 51-53 Th Ballymena Co. Antrim BT43 6AZ as Street 10 June 2022 Page 5
The Franeina Foundation Statement of Financial Activities for Ihe Year Ellded 31 Oetober 2021 Oncluding In¢om¢ and Expenditure Account and Statem¢nt of Total Recognised Gains and Losses) Unrestricted fund5 Restricted funds Total 2021 Note Jncorn¢ and Endoivments from: Donations and legacies Charitable activities 51.756 3,126 1,000 52.756 3,126 Total income 54.882 1,000 55,882 Eipenditure on". Charitable activities (56,070) (56,070) Total expenditure Net {expenditureyin¢om¢ Net rnovement in fi]nds 156,070) {56,070) {1,188) 1,000 (188) (1.188) 1,000 (188) ReconciliatlOD of funds Total fimds brought fonvard 19,924 19,924 Total fimds cattied forward 18,736 1,000 Unrestrieted funds 19,736 Total 2020 Note Imeome and Endowments from: Donations and legacies Charitable activities 38.627 11,331 38,627 11.331 Total income 49,958 49,958 Expendilure OTh: Charitable activities {36,242) (36,242 Total expenditure incorne 136,242) (36,242) 13,716 13.716 Net movement in ndS 13.716 13,716 ReeoneilR#tion of funds Total fimds brought forward 6.208 6,208 Total fid5 caTTied forward 19,924 19,924 All of the charity's activities derive froTn ¢ontinuing operations during the above ttvo periods. The funds breakdown for 2020 is shown in not¢ 9. Page 6
The Francina Foundation (Registration number: N1633966) Balan¢¢ Sheet as at 31 Oetober 2021 2021 2020 Note Current a5$ets C05h at bank and in hand 19,736 19,924 Funds of the ehority: Re5trieted incotne fund5 Restricted funds 1.000 Unrestricted iThcome funds Unrestrieted fjjnds 18.736 19,924 Total funds 19,736 19,924 For the financial year ending 31 October 2021 the oharity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Direetors, re5ponsibilities.' The members have noi requir¢d the charity to obtain an audit of its accounts for the year in question in aecordat]c¢ with section 476. 2nd The directors ackttowledge their responsibilities for complying with the requiretn¢nts of the Act with respect to ac¢ounting record5 and the preparation of accounts. These aceounts have been prepared in accordance with th¢ provisions applicable to companies subject to the small companie5 regime. The financial statements on pages 6 to 12 were approv¢d by the tNStr¢5. and authorised for i55ue on 10 June 2022 and signed on their behalf by.. Mr Gary McQuoid Company Secretary and Trustee amuel W M Trustee cus Page 7
The Fran¢ioa FouDdation Notes to the Finaneial Statements for the Year Ended 31 October 2021 I Charity 5tJtUS The charity is limited by share capital, incorpordted in Northern Ireland. The address of its registered office is.. 196 Ballymoney Road Ballymena Co Antrim BT43 5HG These fuJan¢ial statements were authorised for issue by th¢ trustees on 10 June 2022. 2 Accounting lICAt* Summary of slgnifieant accounting policies and key accounting estlmates The principal accounting policies applied in the preparation of these finanoial statements are set out below. These policies have been ¢onsistently applied to all the years piesented, unless oth¢rwi5e stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prd¢ti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appli¢abl¢ in the UK and Republic of Ireland (FRS 102} {effective l January 2015) - (Charities SORP IFRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with ihe Companies Act 2006 and Charities Act INorthern Ireland) 2008. Basis of preparation Th¢ Francina Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially T¢cognised at historical cost or transaction value Unle oth¢rwise stat¢d in the relevant accounting policy notes. Going concern The trustees consider that there are no rnaterial uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carying value of assets held by the charity. Exemption frorn preparing a cash flow statement The charity opted to early adopt Bulletin I publi5h¢d on 2 February 2016 and have therefore not included a cash flow statement in these fthancial statesnent$. In¢ome and endowments Income from charitable activities includes income recogni5ed as earned la5 the r¢lated good5 or s¢rvi¢¢5 aTe provided) under contract. Page 8
The Francina Foundation Notes to the Fin2neial Statements for the Year Ended 31 October 2021 Don&ilons amd legdeies Donations are recognised when the charity has been notified in writing of both the aTnount and settlement date. In the event that a donation is subject ¢0 condition5 that require a lev¢] of performaTr¢e by the charity before the charity is ¢ntitled to the fvnds, the in¢ome is deferred and not recognised until either those conditions are ]lY met, or the fulfilment of those condition5 is wholly withrn the control of the charity and it is probabl¢ that these conditions will be fulfilled in the reporting period. Expenditure All expenditure is recognised once there 15 a legal or con5tNctive obligation to that expenditure, it is probable settlement is required and the amount be measured reliably. All costs are allocated to the applicable ¢xpenditure heading ihat aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis con51Stent with the use of resources, with central staff cosls allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset'5 use. Other support eosts are allocated based on the spread of st2ff costs. Charituble acllvlties Charitable ¢xpenditure comprises those Costs incurred by the clwity 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 wsts of a indirect nature necessary to support thern. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the defInition of a charitable eompany for UK Gorporation t&x purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within cat¢gories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Act 1992, to the extent that such income or gains are applied exclusively to charitable putFoses. Fund structure Unrestricted income funds are general fijnds that are availabl¢ for use at th¢ trustees discretion in OJrthernn¢e of the objectives of the ¢harity. Restricted income fijnds are those donated for use in a particular ar¢a or for specifi¢ pury)oses, the use of which is restricted to that area or putyose. Page 9
The Francina Foundation Note5 to the Financial Statements for the Year Ended 31 October 2021 3 Income from donation5 and legacies Unrestricted funds General Rt$tricted funds Total fllnd$ Donation5 and l¢ga¢ie5' Donation5 from individuals Gift aid rla]rned 48,738 3,018 1,000 49,738 3,018 Total for 2021 51.756 1.000 52,756 Total for 2020 38,627 38,627 Page 10
The Francina Foundatlon Notes to the Financial Statements for the Year Ended 31 October 2021 4 Ineome from eharitgble activities Total 2U21 Unrestrleted funds General Total 2021 Sponsorship Interest received 3.105 21 3.105 21 3.126 3.126 Unrestricted ruNds Gtneral Total 2020 Sponsorship College fees Interest received Fund raising 5,000 900 16 5,415 5,000 900 16 5,415 11,331 5 Expenditure OR charitable activitles Unrestricted funds General Total funds Insurance Sponsorship Donation5 Advertising Bank charges 491 20,775 33.530 859 415 491 20,775 33,530 859 415 Total for 2021 56,070 56,070 Total for 2020 36,242 36,242 Pagell
The Francina Foundation Notes to the Financial Statements for the Year Ended 31 October 2021 Totsl ¢xp¢nditure 6 Trustees reMneratIOn artd expenses No trllstees, nor any per50n$ ¢tsDne¢t¢d with them. have tt¢¢ived any remuneration from the chariry during the year. No trust¢e5 have received any other benefits from the charity during the year. 7 TaxatlOD The charity is a r¢gist¢r¢d charity and is ther¢for¢ exempt from taxation. 8 Cash and cash equivalent5 2021 2020 Cash at bank 19,736 19,924 9 Fund$ Balance at I November 2020 Incoming resources Resource5 expended Balance al 31 October 2021 Unrestrlcted funds General 19,924 54,682 (56,070) 18,736 Restricted funds 1,000 1,000 Total fllllds 19,924 55,882 (56,070) 19,736 Balance at I November 2019 Incoming resources Re50urce$ expended Balance at 31 October 2020 Unrestrlcted funds General 6,208 19,924 Page 12