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← 100 Black Men Of London

2024-03-31-accounts

100 Black Men OF London

Charity No. 1105904

Trustees' Report and Unaudited Accounts

31 March 2024

100 Black Men OF London Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Statement of Cash flows 9 to 15
Notes to the Accounts 16
Detailed Statement of Financial Activities 17 to 18

Page 1

100 Black Men OF London Trustees Annual Report

100BMOL

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1105904

Principal Office

Can Mezzanine 7 -14 Great Dover Street London SE1 4YR

Trustees

The following trustees served during the year:

H. Alley D. Creavalle O. Oyalegan K. Sonaike

Directors of Corporate Trustees

O. Oyalegan K. G. Dube N. F. Willis

Accountants

Julius and Julius and Associates LLP 70 Clapton Square London E5 8HW

Bankers

HSBC

OBJECTIVES AND ACTIVITIES

The charity's objectives are to advance the public's education, in particular by providing facilities for mentoring young people in the teaching of appropriate life skills in preparation for adulthood, and to promote the preservation and protection of the community's good health, in general, by providing information, advice, and other charitable forms of support. The charity aims to empower our young people and parents to become economic and moral shareholders in their communities.

Page 2

100 Black Men OF London Trustees Annual Report

To achieve these objectives, the Charity operates several programs and community events focused on their four key areas of concern, namely Mentoring, Education, Economic Empowerment, and Health & Wellness. These are underpinned by Leadership Development.

We also seek to provide leadership within our community by advocating and educating the public on matters of particular concern to the community, including health & wellness, economic empowerment and leadership.

Our programs and activities that we deliver enable us to achieve our objectives: Life skills fortnightly Community Mentoring Program for children and parents. Workshops on black history, economic empowerment, health & wellness, public speaking and leadership. Plus, educational films and trips to museums.

ACHIEVEMENTS AND PERFORMANCE

The organization was kept busy this year by an increased demand for services as compared to previous years. The Creating Opportunities series was expanded, with visits to businesses and some corporate headquarters in London where more young people were exposed to new career opportunities and positive experiences to inspire and show them better options in life and prevent or turn them away from knife crime, child criminal exploitation, postcode wars and gang involvement. Under this educative project, the Mentees visited Amazon Web Services where they saw firsthand how a robust information services consultancy system works and careers it attracts.

Our Mentees represented the London chapter at the international conference of 100 Black Men in Las Vegas in June and the Mentees ambassadors’ verbal presentation at the Conference was an inspiration in light of their ages. They shared their story with poise and character, which lit up the room and gave a good account of themselves with confidence and a great testament to the work of the 100 Black Men of London. Parents and mentors were so proud of what they had achieved but most proud were the Mentees. The Mentees also spent a week on an exchange program in Atlanta where they exchanged knowledge and ideas with their American counterparts and made new connections. and generally, broaden their horizon.

We have now re-launched our popular Education Through Film (ETF) event due to popular demand, the events delivered so far were completely sold out and the feedback received from both young and old attendees was quite encouraging in terms of values instilled and lessons learnt. We remain committed to building enduring relationships and to collaborating with well-meaning individuals and organizations in the community and we have now established new and productive relationships with University College London, Prostate Cancer UK, National Theatre, The Young Vic Theatre and Niburu London amongst others. Alongside our current relationships which we value and intend to nurture with Sony PlayStation, we are also exploring potential relationships with Barclays, Accenture, Amazon, Blackrock UK and a few more in the pipeline. These relationships are vital to allow us to provide future benefits to our young Mentees, Parents, Volunteers, Members and the London communities we serve.

Page 3

100 Black Men OF London

Trustees Annual Report

Our Education pillar was reinvigorated and the team has been delivering impactful life-changing events to the community, which include the Career and Skills Insight Day where Mentees were well informed about the requirements needed for various careers such as the British Army, solicitor, architect, medical doctor, train driver, engineer, customer services, social workers, and exposed to guest presenters from different industries and organizations who took the Mentees through their career own career path. Our Graduation is always something remarkable to look up to and a main highlight of the year! It took place at University College London IOE Campus London. At the end of our community mentoring program, we celebrated the Mentees for their growth, passion and dedication to wanting to better themselves by completing the program.

It presented yet another opportunity for the Mentees to showcase their talents as they further demonstrated that they are indeed Diamonds in their eyes and able to shine bright on any platform provided to them. A lot of children and families increasingly need our charitable services and respond positively to the support we provide. However, funds continue to dwindle while the cost of staying charitable soars. As we still need to keep the lights on, we can’t do it alone, so we always need the London community to continuously support and work with us.

In London we feel too many talented young people have gone astray, too many young lives have been cut short or adversely impacted by negative role models or a lack of positive influences, absent parents, poverty, knife crime, drugs, postcode wars, gang activity, truancy and other antisocial or behavioural issues which need to be tackled root and branch with all hands on deck. So, we are always looking to collaborate with other organizations out there that wish to see positive and sustainable changes in the London community. Our doors are always open for synergistic collaborations because together we can make our youths of London value-added youths as desired, create enduring change, and make London a safer place to be proud of.

FINANCIAL REVIEW

Financial Update: Income for the year was £127,921 with an expenditure of £41,120 giving a net income of £86,801. A reduction of £109,690 compared to the previous year. As at 31st March 2024, the reserves have increased to £418,047 from £331,246.

Reserves Policy

Reserves are held to meet future activities, and we are always seeking to maximize them so that we can deliver more services. We plan to enhance our fundraising activities so that we can in turn increase our services to the community we serve.

Going Concern: The 100 Black Men is a going concern and is adequately resourced to continue its operational existence.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution: 100 Black Men of London is registered as a charity with the Charity Commission. No director has any beneficial interest in the charitable company.

Method of appointment or election of Trustees

Under the governing Articles, the Trustees are elected at the Annual General Meeting to serve two years, subject to re-election every two years at the January Annual General Meeting. Trustees are recruited from the local community and are divided into those who bring expertise to the organization and those with wider organizational skills such as business and finance. All Trustees retire at the Annual General Meeting and are eligible for re-election.

Policies adopted for the induction and training of Trustees

Page 4

100 Black Men OF London

Trustees Annual Report

All new Trustees were provided with information about the Charity and attended an induction meeting with relevant staff.

Organizational structure and decision-making

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements by applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

All Trustees are volunteers. There are no paid Directors. The Board of Executives is responsible for decisions relating to the governance and future development of the organization. The Board of Executives is responsible for all day-to-day organizational work, including ongoing financial management, operational direction, fundraising and management of volunteers and members.

Signed on behalf of the charity's trustees

O. Oyalegan Trustee 31 March 2024

Page 5

100 Black Men OF London

Independent Examiners Report

Independent Examiner's Report to the trustees of 100 Black Men OF London

I report to the trustees on my examination of the financial statements of 100 Black Men OF London for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I 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 to enable a proper understanding of the financial statements to be reached.

Titus Ayodele FAIA/ IFA Julius and Julius and Associates LLP 70 Clapton Square London

E5 8HW

31 March 2024

Page 6

100 Black Men OF London Statement of Financial Activities

for the year ended 31 March 2024

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Bank Interest Received
5
Total
Expenditure on:
Fundraising
6
Charitable activities
7
Administrative Expenses
8
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2024
£
188,764
2,915
6,539		 Restricted
funds
2024
£
-
-
-		 Total funds
2024
£
188,764
2,915
6,539		 Total funds
2023
£
126,158
101
1,662
198,218
6,462
2,042
108,421		 -
-
-
-		 198,218
6,462
2,042
108,421		 127,921
853
426
39,841
116,925
-		 -
-		 116,925
-		 41,120
-
81,293
-		 -
-		 81,293
-		 86,801
-
81,293 - 81,293 86,801
81,293
227,550		 -
190,497		 81,293
418,047		 86,801
331,246
308,843 190,497 499,340 418,047

Page 7

100 Black Men OF London

Balance Sheet

at 31 March 2024

Charity No. 1105904

Charity No. 1105904
Charity No. 1105904 2024 2023
£ £
Current assets
Cash at bank and in hand 503,645 418,762
503,645 418,762
Creditors:Amount falling due within one year 10 (4,305) (715)
Net current assets 499,340 418,047
Total assets less current liabilities 499,340 418,047
Net assets excluding pension asset or liability 499,340 418,047
Total net assets 499,340 418,047
The funds of the charity
Restricted funds 11
Restricted income funds 190,497 190,497
190,497 190,497
Unrestricted funds 11
General funds 308,843 227,550
308,843 227,550
Reserves 11
Total funds 499,340 418,047

Approved by the trustees on 31 March 2024

And signed on their behalf by:

O. Oyalegan Trustee 31 March 2024

Page 8

100 Black Men OF London

Notes to the Accounts

for the year ended 31 March 2024

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.

Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

100 Black Men OF London Notes to the Accounts

Expenditure

Recognition of expenditure

Expenditure on raising funds Expenditure on charitable activities

Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.

These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.

Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 10

100 Black Men OF London

Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 11

100 Black Men OF London

Notes to the Accounts

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Bank Interest Received
Total
Expenditure on:
Fundraising
Charitable activities
Administration Expenses
Total
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Donations and legacies
Grant
Membership fee
4
Income from charitable activities
Charitable
Fundraising		 Unrestricted
funds
2023
£
118,756
3
1,662
120,421
853
426
39,841
41,120
79,301
(130,682)
Unrestricted
£
52,792
129,994
5,978
188,764
Unrestricted
£
226
2,689
2,915
(51,381)
(51,381)
278,931
227,550		 Restricted
funds
2023
£
7,402
98
-
7,500
-
-
-
-
7,500
130,682
Total
2024
£
52,792
129,994
5,978
188,764
Total
2024
£
226
2,689
2,915
138,182
138,182
52,315
190,497		 Total funds
2023
£
126,158
101
1,662
127,921
853
426
39,841
41,120
86,801
-
86,801
86,801
331,246
418,047
Total
2023
£
(1)
118,757
7,402
126,158
Total
2023
£
-
101
101

Page 12

100 Black Men OF London

Notes to the Accounts

5 Other income

Bank Interest Received
6
Expenditure on raising funds
Costs of generating voluntary
income
Membership Cost
Fundraising trading costs
Fundraising Cost
7
Expenditure on charitable activities
Expenditure on charitable
activities
Charitable Project
Governance costs
8
Other expenditure
Branding
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs		 Unrestricted
£
6,539
6,539
Unrestricted
£
3,190
3,272
6,462
Unrestricted
£
2,042
2,042
Unrestricted
£
2,809
10,202
71,678
560
22,262
910
108,421		 Total
2024
£
6,539
6,539
Total
2024
£
3,190
3,272
6,462
Total
2024
£
2,042
2,042
Total
2024
£
2,809
10,202
71,678
560
22,262
910
108,421		 Total
2023
£
1,662
1,662
Total
2023
£
40
813
853
Total
2023
£
426
426
Total
2023
£
723
13,126
11,328
1,224
6,439
7,001
39,841

Page 13

100 Black Men OF London Notes to the Accounts

100 Black Men OF London
Notes to the Accounts
9
Staff costs
Salaries and wages
No employee received emoluments in excess
10Creditors:
amounts falling due within one year
Credit card
Other taxes and social security
Other creditors
Accruals
11Movement in funds
Restricted funds:
Restricted income funds:
Total
Unrestricted funds:
General funds
Total funds
12Analysis of net assets between funds
Net current assets		 of £60,000.
At 1 April
2023
190,497
190,497
227,550
418,047		 2024
-
-
2024
£
1,822
-
1,273
1,210
4,305
Incoming
resources
(including
other
gains/losses
)
£
-
-
198,218
198,218		 Resources
expended
£
-
-
(116,925)
(116,925)
Unrestricted
funds
£
499,340
499,340		 2023
4,984
4,984
2023
£
(925)
(843)
1,273
1,210
715
At 31
March
2024
£
190,497
190,497
308,843
499,340
Total
£
499,340
499,340

Page 14

100 Black Men OF London Notes to the Accounts

13 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2023
£
418,762
418,762
418,762		 Cash flows
£
84,883
84,883
84,883		 At 31
March
2024
£
503,645
503,645
503,645

Page 15

100 Black Men OF London Statement of Cash flows

for the year ended 31 March 2024

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Bank Interest Received
Decrease in trade and other receivables
Increase/(Decrease) in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Bank interest received
Net cash from investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances
Credit card		 2024
£
81,293
(6,539)
-
843
75,597
6,539
6,539
-
82,136
419,687
501,823
503,645
(1,822)
501,823		 2023
£
86,801
(1,662)
80,000
(843)
164,296
1,662
1,662
-
165,958
253,729
419,687
418,762
925
419,687

Page 16

100 Black Men OF London Detailed Statement of Financial Activities

for the year ended 31 March 2024

Income and endowments from:
Donations and legacies
Donations and legacies
Grant
Membership fee
Charitable activities
Charitable
Fundraising
Other
Bank Interest Received
Total income and endowments
Expenditure on:
Costs of generating donations and
legacies
Membership Cost
Costs of other trading activities
Fundraising Cost
Total of expenditure on raising
funds
Charitable activities
Charitable Project
Total of expenditure on charitable
activities
Other expenditure
Branding
Employee costs
Salaries/wages
Staff refreshment
Staff training
Staff- Volunteer Cost
Motor and travel costs		 Unrestricte
d funds
2024
£
52,792
129,994
5,978
188,764
226
2,689
2,915
6,539
6,539
198,218
3,190
3,190
3,272
3,272
6,462
2,042
2,042
2,042
2,809
2,809
-
6,105
3,253
844
10,202		 2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2024
£
52,792
129,994
5,978
188,764
226
2,689
2,915
6,539
6,539
198,218
3,190
3,190
3,272
3,272
6,462
2,042
2,042
2,042
2,809
2,809
-
6,105
3,253
844
10,202		 Total funds
2023
£
(1)
118,757
7,402
126,158
-
101
101
1,662
1,662
127,921
40
40
813
813
853
426
426
426
723
723
4,984
7,919
-
223
13,126

Page 17

100 Black Men OF London

Detailed Statement of Financial Activities

Travel and subsistence
Event and Trip
Premises costs
Rent
Hall and Storage
General administrative costs,
including depreciation and
amortisation
Bank charges
General insurances
Advertisement / Promotional
Office /Admin Cost
Software, IT support and related
costs
Stationery and printing
Parking charge
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 45,122
26,556
71,678
340
220
560
199
464
9,275
5,601
4,312
927
10
1,474
22,262
910
108,421
116,925
-
81,293
81,293
-
81,293
227,550
308,843
910
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
190,497
190,497
-
-
-		 45,122
26,556
71,678
340
220
560
199
464
9,275
5,601
4,312
927
10
1,474
22,262
910
108,421
116,925
-
81,293
81,293
-
81,293
418,047
499,340
910
-
-		 732
10,596
11,328
180
1,044
1,224
115
948
1,490
160
977
1,629
-
1,120
6,439
-
350
6,651
7,001
39,841
41,120
-
86,801
86,801
-
86,801
331,246
418,047

Page 18