Charity registration number 232510
Company registration number 00428678 (England and Wales)
THE DOHNAVUR FELLOWSHIP CORPORATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
THE DOHNAVUR FELLOWSHIP CORPORATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
S E Wavre (Chair)
J M T Carlyon
R A Manning
S R M Gill
M Packianather
D Gordon
(Appointed 2 March 2024)
Secretary
S R M Gill
Charity number
232510
Company number
00428678
Registered office
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
Auditor
Sumer Audit
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
THE DOHNAVUR FELLOWSHIP CORPORATION
CONTENTS
Page
Trustees' report
1 - 5
Statement of trustees' responsibilities
6
Independent auditor's report
7 - 9
Statement of financial activities
10
Balance sheet
11
Notes to the financial statements
12 - 19
THE DOHNAVUR FELLOWSHIP CORPORATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity was set up in 1947 in order, firstly, to help support the work of the Dohnavur Fellowship in India, where a large orphanage and a rural hospital were fulfilling the first three objects of the charitable company as stated in the charitable company’s memorandum and articles of association, i.e. saving children from moral danger, training them to serve others, and relieving suffering and making God’s love known to the people of India especially through the medical work.

The Dohnavur Fellowship Corporation ("DFC") is a completely separate entity from The Dohnavur Fellowship India which is registered in India under the Tamil Nadu Societies Registration Act. The charity in the UK (The DFC) was set up to help support the charity in India which is self-governing. The Dohnavur Fellowship Corporation in the UK maintains regular communication with The Dohnavur Fellowship in India. The work in India is supported by donors in other countries, including India, as well as by the Dohnavur Fellowship Corporation in the UK.

 

The DFC has over many years supported the Dohnavur Fellowship by: managing donations and legacies received by the charity and forwarding funds when required to India; in various ways publicising the work in India and promoting prayer support; supporting the leadership in India in the development of the work of the Fellowship and to this end facilitating visits to and from Dohnavur. In recent years the DFC has also supported management improvements in Dohnavur – updating/restructuring the way they work to achieve better management and accountability standards and practices. This to streamline, clarify and improve communication, transparency and efficiency between the often-interrelated areas of work within the Dohnavur Fellowship. The DFC has financed consultancy fees for Tamil Nadu based respected Christian consultants, which is bearing fruit. Secondly, the charity was set up to provide for retired missionaries of the Dohnavur Fellowship who had given their lives to such work.

 

Public benefit

The trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefits. Further regard has been given to the specific guidance on the advancement of religion for the public benefit. The Dohnavur Fellowship Corporation's objects comply directly with three of the Charities Act's descriptions of "charitable purpose":

 

- "the relief of poverty",

- "the advancement of religion" and

- "the advancement of health or saving of lives"

 

The trustees ensure that these purposes are met as the charity exists principally to provide financial support to the Dohnavur Fellowship in India, where a large orphanage and rural hospital are situated serving the people of Dohnavur and the surrounding region.

 

As the main objectives of the charity are to support the work in India and to provide for retired missionaries of the Dohnavur Fellowship, donations and legacies to the charity are all credited to the general fund. After administrative expenses have been met, funds are forwarded to the fellowship in India as required.

Achievements and performance

From the beginning the policy of the charity has been to make the work in India known but not to ask for funds, trusting God to supply what is needed through those who are interested. The costs of operation in India, as elsewhere in the world, have increased. The DFC has established a working group to better target potential individual donors or agencies who might be interested and able to support the work of the DF through prayer and monetary donations.

THE DOHNAVUR FELLOWSHIP CORPORATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The charity has continued to support the Dohnavur Fellowship in India, including the children's home and hospital serving the people of Dohnavur and the surrounding region, and also the After Care home for girls over 18 years of age, and the home and care for the aged. During the year 2023-2024 within the Dohnavur Fellowship a total of 26 (2022-2023: 32) children up to the age of 18 have been housed, clothed, fed and educated, while 34 (2022-2023: 27) other young people remain in full-time education beyond the age of 18. Many of these have been living in DF in the After Care home, commuting to their places of higher education on a daily basis. A few have gone further afield and live in hostels, returning to DF for the holidays. In March 2024, the whole community (children, staff, disabled adults and retired Indian workers) numbered 178 (March 2023: 187). There were also 25 hospital staff and nursing students.

In the 2023-2024 year, the first year fully post-Covid, the refurbishment of the Outpatients’ reception area was completed and new equipment for the lab and a CT-scan installed, along with other improvements to patient flow.

 

 

Some DF patients were referred to larger hospitals where specialised interventions were required. In 2023-2024 these numbered 10: 7 cataract surgeries, and 3 other surgeries.

 

Remittance to India

In 2023–2024 a total of £296,718 (2022-2023: £201,550) was sent by the DFC to the Dohnavur Fellowship in India. There were no remittances direct to the Santhosha Vidhyalaya School in Dohnavur, though the DFC pays the school fees for 10 children studying as day scholars at the school, as part of the annual remittances to DF.

Remittances during 2023-2024 included £77,187 for the second phase of the Vistara renovations, turning that compound into a home for 44 retired elderly workers, who require professional care while still able to retain some independence. A generous donation of $30,000 from the Elizabeth Elliott Foundation was forwarded by the DF Honorary Secretary in the USA to Dohnavur, which funded the first phase of the renovation. it is hoped that the Vistara Home for the DF Elderly will be completed before the end of October 2024. From June 2023, the DFC has provided remuneration for a hired Programme Manager, to supervise major projects, and provide detailed and timely monthly reports.

 

Expenditure within the United Kingdom

In 2023–2024 a total of £6,000 (2022-2023: £19,050 - including a knee surgery) was paid by the charity in allowances to support retired workers. No additional commitments have been made to the retired workers in the UK in this financial year.

 

The investment assets of the charity are intended to fund the UK office function and are held to provide income for the support of the retired DF missionaries and other workers. Income from invested funds can also be used to provide funding for the Dohnavur Fellowship where surplus to UK requirements.

THE DOHNAVUR FELLOWSHIP CORPORATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The charity is not financially dependent on any one donor and gifts and donations are received from the charity’s individual supporters. The amount of legacy income varies from year to year. Funds are adequate and available to meet the needs of the charity. Funds are adequate and available to meet the needs of the charity.

Financial review

The trustees have reviewed the funds position at the balance sheet date. The total level of funds at 31 March 2024 was £4,830,050 (2022-2023: £4,482,096). Expenditure during the year totalled £348,227 (2022-2023: £252,405), which included £6,583 remuneration for a new Project Manager hired externally to supervise new projects and train DF workers, and £77,187 towards the second phase of the Vistara Programme.

 

The results as shown in the Statement of Financial Activities show a very strong net gain (£407,921) during 2023-2024. In 2022-2023, the investments fell in value by £163,526 due to the Ukraine war. Regular monthly giving to the DFC has continued to decline post Covid. Occasional larger donations are received, but legacies have diminished, and are unpredictable.

 

On 31 March 2024, the investment fund held within designated funds had a balance of £4,345,773 (2023: £3,889,890) and the balance held in other designated funds and the general unrestricted funds amounted to £484,277 (2023: £592,206).

 

Approximately £87,000 is required to meet anticipated working capital requirements, representing about 3 months' expenditure including remittances to India. The remainder is being held for the development of future work in India.

The trustees’ policy is to retain sufficient reserves in the investment fund to generate income on a long-term and on-going basis to fund –

 

  1. Subsistence and support in current and future years for retired workers, principally missionaries retired from working within the Dohnavur Fellowship in India.

  2. Maintenance of the office and administrative functions, including staff remuneration and the induction of the new DFC Administrator to the work of the Fellowship in India.

  3. Other needs of the work including provision for travel for Indian workers

 

In the past year, we worked closely with the US and Switzerland in particular, to ensure that major funds received are sent to the DF for specific needs, in a coordinated manor, especially where major legacies are received.

 

If income from the investment fund is surplus to requirements, some of this may be transferred to the general fund in order to be available for transmission to India. The trustees review the position of the investment fund and reserves annually.

Investment policy

The trustees’ investment policy is to ensure that the pool of money held within the charity is invested prudently and profitably over the long term for the charity’s objectives and for the benefit of the Dohnavur Fellowship. The aim is to provide a balance of income and capital growth through a low-risk strategy. All of the charity’s investments are currently invested with COIF Charity Funds under the management of CCLA Investment Management Ltd. The allocation and performance of the investments is kept under review.

Risk management

The Risk Register is reviewed annually by the trustees, usually in September. The Risk Register was reviewed and updated during the trustees’ meeting on 21 September 2024.The principal risks identified that would potentially have the most impact on the work of the charity continue to be: (a) a significant reduction in donor and legacy income; (b) unavailability of the administrator, for example, due to illness, and (c) the Government of India blocking income from abroad. The FCRA certificate, allowing the Dohnavur Fellowship to access income from abroad was renewed till 2028. The trustees monitor these risks and take steps to protect the charity’s position.

 

The Indian Government potentially blocking income from abroad is of particular concern. The trustees have worked closely with the Dohnavur Fellowship in the last year to ensure that they are following all government rules and regulations regarding the management of the Children’s Home and other key aspects of the work, to minimise the potential of regulatory difficulties.

THE DOHNAVUR FELLOWSHIP CORPORATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

Plans for the future

The financial position of the DFC as of 31 March 2024 is satisfactory. The trustees have no plans to change the charitable company’s aims and key objectives for the future, or to make any fundamental changes to the ways in which they aim to achieve them. The trustees continue to communicate by email and WhatsApp. Microsoft Teams is being installed for sharing of files, though some training is required for better efficiency. The trustees continue to be more direct in talking about current funding needs with donors in the UK.

 

In India: In 2017-18, an Organisational Audit of the DF by the Christian Institute of Management (CIM) in Chennai, formed the basis for a major long-term change process which is still ongoing. This was initiated and funded by the DFC, with full DF approval. The Dohnavur Fellowship’s Vision, Mission, business practices and operating procedures were revisited over a period of time. The purpose was to refocus its core work with children, the sick and destitute, embracing the realities and standards of care under the Government of India regulations in the 21st century, while remaining firmly rooted in the Christian ethos of Amy Carmichael from 1900 on. The trustees continue to work closely with the Dohnavur Fellowship in supporting and advising them on new or enhanced programmes and initiatives, including the appointment of key workers from outside the DF, to ensure that government standards, as well as the DF’s calling, are present and practiced at every level.

 

A senior HR consultant in Human Resources and Organisational Development has been hired by the DF on a retainer basis. His visits to the DF are now once a month for three full days. He also works at distance from Chennai. A weekly Management meeting ensures progress continues in accountability, transparency and communication. Other external Indian advisors continue to work closely with the DF leadership and Managing Committee, teaching systems and processes to enhance their work. In this reporting period there is a focus on implementing the Home Rules to Government required standards, and reworking job descriptions for the workers within the Home.

 

New and updated safeguarding measures for children and all residents and visitors have been established and implemented. Further advice in governance, finance, management and development practices pertinent to the work of the DF continue to be sought by the DF leadership from well-known and well-respected Christian Indian experts in their field. The DF Leadership’s Managing Committee was re-purposed and re-elected at their AGM in August 2023. Vasanthi, one of the Committee Members, will complete a Masters in Social Work in December 2024, which will enable her to provide official oversight to the Children’s Home/After Care home from January 2025, as required by Indian law. The change process continues to provide positive results. Regular visits from the HR/OD retainer consultant are enhancing performance, communication and accountability across departments. The redesign and refurbishing of the hospital are ongoing. The new Out Patients Centre was inaugurated in November 2023. It functions well, and is equipped with a new CT scanner and laboratory equipment donated by DF and SV alumnae and other Indian donors. The Hospital Administrator has established processes and standards for better efficiency.

 

The transformation of the Vistara into a purpose-built home for the elderly is gaining new momentum. The DFC has been very closely engaged in all these developments, and has a strong working relationship with the DF. During the reporting period, the DFC funded Consultancy planning meetings and training workshops, through the General Fund when required, and continues to do so. The initial Vistara transformation to a home for the elderly, started in late 2021 and was funded through a major donor in the US. The DFC has funded the second phase of the Vistara renovation, from June 2023 to end March 2024. The £106,924 came from the Muriel Boshell legacy CCLA Deposit. Monthly financial reports account for the expenditures and narrative reports keep the DFC abreast of the progress, The second and final phase of the Home for the Elderly is estimated to be completed in October 2024.

Structure, governance and management

The DFC is registered in the UK as a charity with registration number 232510 and is a company limited by guarantee with company number 00428678. It was established under a memorandum of association which set out its objects and powers and it is governed under its articles of association.

THE DOHNAVUR FELLOWSHIP CORPORATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

 

S E Wavre (Chair)
P A Anderson
(Resigned 7 July 2023)
J M T Carlyon
R A Manning
S R M Gill
M Packianather
D Gordon
(Appointed 2 March 2024)

Ultimate responsibility for the governance of the charity and the funds it is entrusted with lies with the board of trustees who meet at least twice a year to review the activities and financial position of the charity. New trustees are appointed from time to time by the existing trustees to ensure that the board of trustees reflects an appropriate mix of skills and abilities. The appointment of any new trustee is approved by an ordinary resolution of the company. Procedures are in place to ensure that any new trustee has the necessary induction and training to be able to understand how the charity works. The day-to-day work of the charity is done by an administrator, appointed by the trustees, who works in consultation with the Chair and other trustees.

 

At the AGM on 22 October 2023, Rev David Gordon and Mr Gabriel Kumar were welcomed as Members of the DFC. At the 2 March 2024 Directors' meeting, David Gordon was unanimously appointed to the Board as a Trustee. His appointment will be ratified by the Members at the AGM on 26 October 2024.

 

Rev J M Tarie Carlyon submitted her letter of retirement from the DFC Board, effective on her 80th birthday, 19 November 2024. Tarie Carlyon has served faithfully as a Board Member for more than 15 years, since 13 April 2009. Her dedication and in-depth knowledge of India and the Dohnavur Fellowship will be sadly missed. We are delighted she will continue to be a DFC Member, and editor of Dust of Gold and Praise & Prayer.

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Audit be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

S E Wavre (Chair)
S R M Gill
Trustee
Trustee
Dated: 12 November 2024
Dated: 12 November 2024
THE DOHNAVUR FELLOWSHIP CORPORATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

The trustees, who are also the directors of The Dohnavur Fellowship Corporation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to 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 prevention and detection of fraud and other irregularities.

THE DOHNAVUR FELLOWSHIP CORPORATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE DOHNAVUR FELLOWSHIP CORPORATION
- 7 -

Opinion

We have audited the financial statements of The Dohnavur Fellowship Corporation (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

THE DOHNAVUR FELLOWSHIP CORPORATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE DOHNAVUR FELLOWSHIP CORPORATION
- 8 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

 

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: compliance with the UK Companies Act and the Charities SORP (FRS102).

In addition to the above, our procedures to respond to risks identified included the following:

 

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planed and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

THE DOHNAVUR FELLOWSHIP CORPORATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE DOHNAVUR FELLOWSHIP CORPORATION
- 9 -

Other matters which we are required to address

The financial statements of The Dohnavur Fellowship Corporation for the year ended 31 March 2023 were unaudited.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robin Evans BA FCA CTA DChA (Senior Statutory Auditor)
for and on behalf of Sumer Audit
14 November 2024
Chartered Accountants
Statutory Auditor
Worthing
Sumer Audit is the trading name of Sumer Auditco Limited

 

THE DOHNAVUR FELLOWSHIP CORPORATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
176,622
49,201
Other trading activities
-
7

Investments

4
103,017
92,350
Other income
5
8,621
14,068
Total income
288,260
155,626
Expenditure on:
Charitable activities
6
348,227
252,405
Net gains/(losses) on investments
10
407,921
(163,526)
Net movement in funds
347,954
(260,305)
Fund balances at 1 April 2023
4,482,096
4,742,401
Fund balances at 31 March 2024
4,830,050
4,482,096

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All funds received and paid during the current and comparative periods were unrestricted; there were no restricted funds received in either period.

THE DOHNAVUR FELLOWSHIP CORPORATION
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
141,525
143,097
Investments
13
4,163,932
3,796,011
4,305,457
3,939,108
Current assets
Stocks
-
770
Debtors
14
148,048
2,705
Cash at bank and in hand
390,083
545,234
538,131
548,709
Creditors: amounts falling due within one year
15
13,538
5,721
Net current assets
524,593
542,988
Total assets less current liabilities
4,830,050
4,482,096
The funds of the charity
Unrestricted funds
4,830,050
4,482,096
4,830,050
4,482,096

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 12 November 2024
S E Wavre (Chair)
Trustee
Company registration number 00428678 (England and Wales)
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
1
Accounting policies
Charity information

The Dohnavur Fellowship Corporation is a private company limited by guarantee incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include fixed asset investments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees have considered relevant information, including the impact of subsequent events, in making their assessment.

 

Based on these assessments and having regard to the resources available to the entity, the trustees have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the accounts.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 13 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure relating to charitable activities is included in the Statement of Financial Activities on an accruals basis.

 

Governance costs include amounts incurred in respect of the running of the charity as an organisation, including general management, administration, legal and constitutional matters.

 

Support costs include consultancy and administration costs incurred to support governance, together with the cost of general management including office costs.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold buildings
125 years on a straight line basis over the term of the lease
Fixtures and fittings
8% straight line per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.10
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -
1.11
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
37,927
44,644
Legacies receivable
138,695
4,557
176,622
49,201
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
4

Investments

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Investment income

83,651
85,043

Interest receivable

19,366
7,307
103,017
92,350
5
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Royalties
8,621
14,068
6
Expenditure on charitable activities
Charitable expenditure
Charitable expenditure
2024
2023
£
£
Direct costs
Depreciation and impairment
1,572
1,572

Remittances to India

296,718
201,550

Allowances to retired missionaries

6,000
19,050
304,290
222,172
Share of support and governance costs (see note 7)
Support
32,027
25,793
Governance
11,910
4,440
348,227
252,405
Analysis by fund
Unrestricted funds
348,227
252,405
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
7
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Administration, management and communication services

21,080
-
21,080
17,699
-
17,699

Office costs

10,265
-
10,265
7,460
-
7,460

Insurance

464
-
464
419
-
419

Bank charges

218
-
218
215
-
215

Independent examiner fees

-
-
-
-
4,440
4,440
Audit & accountancy fees
-
11,910
11,910
-
-
-
32,027
11,910
43,937
25,793
4,440
30,233
Analysed between
Charitable activities
32,027
11,910
43,937
25,793
4,440
30,233

Governance costs includes accountancy fees of £3,000 (2023: £2,360) and audit fees of £8,910 (2023: £Nil).

 

Independent examiner fees in the previous period include fees relating to the independent examination of £1,600, and fees relating to accounts preparation of £2,360.

8
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or comparative year. During the comparative year, one trustee received reimbursements for travel expenditure amounting to £45; there were no such reimbursements during the current year.

During the year, unrestricted donations totalling £1,664 (2023: £1,626) were received from the trustees.

 

There was no remuneration paid to key management personnel during the current or prior year.

9
Employees

The charity had no employees in the current or comparative period.

10
Net gains/(losses) on investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Revaluation of investments
407,921
(163,526)
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12
Tangible fixed assets
Leasehold buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
196,561
15,910
212,471
At 31 March 2024
196,561
15,910
212,471
Depreciation and impairment
At 1 April 2023
53,464
15,910
69,374
Depreciation charged in the year
1,572
-
1,572
At 31 March 2024
55,036
15,910
70,946
Carrying amount
At 31 March 2024
141,525
-
141,525
At 31 March 2023
143,097
-
143,097
13
Fixed asset investments
Listed investments
£
Cost or valuation
At 1 April 2023
3,796,011
Valuation changes
407,921
Disposals
(40,000)
At 31 March 2024
4,163,932
Carrying amount
At 31 March 2024
4,163,932
At 31 March 2023
3,796,011
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
148,048
2,705
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
673
-
Accruals and deferred income
12,865
5,721
13,538
5,721
16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2024
£
£
£
£
£
£
Investment fund
3,889,890
98,286
(50,324)
-
407,921
4,345,773
Publications fund
37,808
-
-
(37,808)
-
-
Santhosha Vidhyalaya boys' hostel fund
650
-
-
(650)
-
-
Restructuring and Development fund
-
4,731
(10,689)
103,174
-
97,216
General funds
553,748
185,243
(287,214)
(64,716)
-
387,061
4,482,096
288,260
(348,227)
-
407,921
4,830,050
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2023
£
£
£
£
£
£
Investment fund
3,968,144
135,061
(213,315)
-
-
3,889,890
Publications fund
24,403
14,057
(652)
-
-
37,808
Santhosha Vidhyalya boys' hostel fund
650
-
-
-
-
650
General funds
749,204
6,508
(38,438)
-
(163,526)
553,748
4,742,401
155,626
(252,405)
-
(163,526)
4,482,096
THE DOHNAVUR FELLOWSHIP CORPORATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16
Unrestricted funds
(Continued)
- 19 -

The charity has four designated funds, the investment fund, the publications fund and the Santhosha Vidhyalaya boys' hostel fund.

 

The investment fund provides income from long-term investments that is used principally for the charity's duty of care for former Dohnavur missionaries and other UK-based workers in need. This income also finances the work and administration of the DFC in the UK. Surplus income from these investments is used to support the Dohnavur Fellowship in India.

 

The publications fund is for the management of royalties, copyright fees and the sale of Dohnavur related publications, including books, DVDs and CDs. As the charity no longer sells books, DVDs or CDs, the remaining balance on this fund has been transferred to general unrestricted funds during the year.

 

The Santhosha Vidhyalaya boys' hostel fund was set up by the trustees in March 2016 to facilitate directed giving by the charity to support the building of a boys' hostel at the Santhosha Vidhyalaya, a boarding school within the Dohnavur compound providing education for the children of Indian Christian missionaries. As the project for which this fund was designated is complete, the remaining balance on this fund has been transferred to general unrestricted funds during the year.

 

The restructuring and development fund is for the provision of remittances to India to fund consultancy, salaries and training costs.

17
Contingent assets

On 27 February 2024, the charity was notified of a legacy wherein the charity has been named as a beneficiary of the residuary estate. At the reporting date, the net value of the estate is unknown and therefore no accrual has been made for the legacy income in the financial statements, on the basis that the amount to be received by the charity cannot be measured reliably.

18
Related party transactions

During the year, the charity received unrestricted donations of £7,838 (2023 - £nil) from an entity for which one of the charity's trustees also acts as a trustee.

 

There were no further disclosable related party transactions during the current or prior year other than transactions with trustees as disclosed in note 8.

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