Tope Ojo Memorial Welfare Organization Limited (A company limited by guarantee) Report and Financial Statements Year ended 31[st] August 2020. 1 ## **Annual Report September 1, 2019 – August 30, 2020 Non-Governmental Organisation.** Mrs Oluwakemi Ojo, Director **__________________________________________________________** Registered charity number: 05202912 Registered Company Number: 1109730 ## **Charity's principal address:** 13 Clegg Square Shenley Lodge Milton Keynes, MK5 7HG ## **Names of the charity trustees who manage the charity.** Mrs Oluwakemi Ojo Chair Dr Anthony Ojo Secretary Mr Adebola Adeside Treasurer Mr Chris Aniyi Member of Trustee Mr Oluwole Olusoga Publicity Officer ## **Foundation Mission** Tope Ojo Memorial Welfare Organisation Limited carries out charity work in England. This is a company limited by guarantee and with one trading subsidiary. The company must comply with both the Companies Act 1985 and the SORP. We provide funding to Tope Ojo Memorial Foundation in Nigeria, a separate nongovernmental organisation which is separate from us, located in Nigeria, to carry out charity work. There are many beneficiaries in Nigeria who are supported via the foundation in Nigeria. We support foreigners coming newly to England and through one way or the other become homeless. We reach out to the public who are in needs and satisfy the aims and objectives of Tope Ojo Memorial Welfare Organisation Limited. The Foundation was organized to solicit, receive, hold, manage, and administer charitable contributions and to make disbursements from such contributions in furtherance of the Foundation’s programs. ## **Foundation Purpose and History** The Foundation was established in April 2004, as an independent not-for-profit Corporation that provides a variety of charity activities initiatives for the benefit of people in United Kingdom and in Nigeria. To accomplish its mission, the Foundation seeks contribution revenue from individuals, corporations, foundations, institutions, and other entities. The Foundation is responsible for ensuring that all gifts are used consistent with Tope Ojo Memorial Welfare Organisation principles and donor wishes and manages its resources and assets to maximize their value. A Board of Trustees governs the Foundation. The Board selects new Trustees from a list of candidates that has been approved by organisation. 2 The board of trustees are responsible for the matters such as annual operating budgets, transfer of resources from Tope Ojo Memorial Welfare Organisation Limited to Tope Ojo Memorial Welfare Foundation. Tope Ojo Memorial Welfare Foundation budgets, development of strategic plans, conceptualising new fund-raising approaches, developing stewardship policies and procedures, and monitoring Trustee committee activities. The trustees and a management committee meet at least four times a year to review the group’s work and formulate strategy. ## **Governing Document** The charity is constituted under a trust deed dated 24 July 1994. Tope Ojo Memorial Welfare Organisation Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 24 July 1994. It was registered as a charity with the Charity Commission on the 26 May 2005. Anyone over the age of 18 can become a member of the Company and there are currently 10 members, each of whom has no obligation to contribute any money to the organization. **Management Committee** Mrs Oluwakemi Ojo Dr Anthony Ojo Mr Adebola Adesida Mr Oluwole Olusoga **Medical Advisor** Dr Anthony Ojo **Bankers** Barclays Bank **Auditors** Tockan & Co Chartered Accountants 289 Brettenham Road, Edmonton, London, N18 2HF. The trustees are pleased to present their report and audited financial statements for the year ended 31 August 2020. Legal and administrative information set out on forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounting and Reporting by Charities (issued in March 2005). A risk register is maintained to identify and monitor implications for the charity should its main strategic goals not be achieved, or operating conditions change. The register is reviewed, with contingency plans to deal with challenges that might arise. Feedback should normally arrive by letter, telephone, email and via the private members’ forum of which we are going to create on Tope Ojo memorial Welfare Organisation limited website. 3 ## **Related parties** The charity maintains close relationship with Tope Ojo Memorial Foundation in Nigeria, a charity which shares the Trust’s passion for education, care for HIV patient in Nigeria, Care for Homeless Children and orphans, alleviation of poverty, preservation and protection of good health and advancement of religion through collaboration we had book considerable achievement. There is no relationship between the boards of trustee of both organizations. We visit Nigeria regularly to see what the money in England is used to achieve in terms of charity involvement and we are incredibly pleased with these achievements. ## **Risk management** The trustees have a risk management strategy which comprises: An annual review of the risks the charity may face; the establishment of systems and procedures to mitigate those risks identified in the plan; and the implementation of procedures designed to minimize any potential impact on the charity should those risks materialize. This work has identified only a few minor new risks, but it has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. Particular attention has focused on financial risks arising from supporting Tope Ojo Memorial Welfare Organization in Nigeria. How to measure the success of the work carried out by the organization on our behalf. Is there aims and objective marries ours. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees. ## **Objectives and Activities** ## **Objects** Tope Ojo Memorial Welfare Organisation Limited aims to provide the following services: - Contribute towards good health, prevention of sickness in United Kingdom and Nigeria. - We give aids to relief poverty in United Kingdom and in Nigeria. - We support Tope Ojo memorial Welfare foundation in Nigeria to support Nigerians to relief poverty, supporting amateur sporting event, contributing towards education by funding a village initiative public library in Erinmope Ekiti. - We support religious activities in Limited Kingdom and in Nigeria. - We contribute to advancement in Education mainly in Nigeria and in United Kingdom. 4 ## **Activities** Tope Ojo Memorial Welfare Organisation Limited core charitable activities are categorised under four primary headings: - We contribute towards good health, prevention of sickness and for the people. - We give aids to relief poverty. - We support Tope Ojo memorial Welfare foundation in Nigeria to support Nigerians to relief poverty, supporting amateur sporting event, contributing towards education by funding a village initiative public library in Erinmope Ekiti. - Support religious activities in religious activities in Limited Kingdom and in Nigeria. - • Advancement in Education. The main objectives for the year continue to promote all these five points. ## **1. The relief of financial hardship** a. All the beneficiaries are people who could not make both ends meet. They are in financial hardship due to their age, due to lose of job, due to being uprooted from familiar environment which made them find themselves sidetrack from mainstream of the society. The people we help are in genuine financial need as decided by the board of trustee. Some of the beneficiaries are suffering from the effects of old age, sickness or from a disability, where, in each case, there is also financial need. The hardship being suffered does not have to be long-term. Some of them have temporary hardship caused by job loss or sickness. b. Tope Ojo Memorial Welfare Organisation Limited relieves hardship in many ways, for instance: - by giving money to beneficiaries. - by providing food, clothing, or housing. - by giving advisory or other services to those in need; or - by providing support for Tope Ojo memorial Welfare foundation in Nigeria which gives help to people suffering hardship due to poverty and famine in Nigeria. ## **2. The advancement of education** a. The advancement of education we involve in is not limited to formal education at schools, colleges, or universities. It can also include support for play group in Nigeria which is achieved by Tope Ojo memorial Welfare foundation in Nigeria. b. We give money to beneficiaries to support their education. We also carry out this duty by supporting Tope Ojo Memorial Welfare foundation in Nigeria to support advancement of education in Nigeria. 5 ## **3. The advancement of religion** a. In general, no distinction is made between one religion and another. There is a general assumption that the advancement of religion is for the public benefit. For the advancement of religion to be charitable, a religion must: - be founded on a belief in a supreme being or beings; and - Involve expression of that belief through worship. - b. The advancement of religion can include the provision and upkeep of places of worship, paying ministers or priests, and holding services. - We give money to Churches. - • We provide food, cloths to churches to give to people in need. b. We belief the advancement of religion ewe involve in is charitable. Public benefit is not lacking because: - The religious organisations we support are open to public and their activities do not consist of private prayer. - The organisations are not set up only to promote the beliefs of a particular religion which undermine the accepted foundations of religion and morality or are otherwise contrary to the public interest. ## **4. Preservation and protection of good health** Some of our beneficiary in England does not have the right to register with NHS. Some of them could not pay for any medication which they could not get from NHS. Some of them need private healthcare. Any request is being discussed during the meeting of the Board of Trustees. Most of this preservation of good health is also achieved in Nigeria due to support for Tope Ojo memorial Welfare foundation in Nigeria. ## **Trustees’ summary** The trustees are delighted by the excellent outcomes of the charity’s support to relief financial hardship, support towards advancement in education, support to religious organisation and support for Tope Ojo Memorial Foundation in Nigeria. Thanks go to Adebola Adesida, who still works tirelessly to ensure that each beneficiary is being taken care of and properly followed up. The trustees recognise that the huge frontline response to beneficiaries, much of it bespoke, is still generated by a tiny number of highly dedicated staff. Thanks are due to all employees who work hard to support our beneficiaries by providing prompt information and creating opportunities for social contact to relieve often profound feelings of isolation. Special mention must be made of the long hours put in by the Development Director herself to provide an instant response of the highest quality to every inquiry. To provide more support to staff performing an invaluable service is at the heart of trustees’ current concerns over resources. 6 ## **Financial Review** ## **Main Sources of funding** ## **1. Donations and Gifts** Primarily unrestricted income received from members, their friends and family. There is a corporate donation from Mercy Medical Services Ltd as usual. The total of donation during the year gone was £77,350. ## **2. Volunteer Fundraising** We have no income from the activities of individual members who organise local events such as coffee mornings, cake sales, etc. or who take part in national sponsorship events such as the London Marathon and Great North Run. ## **3. Internal Fundraising** No income generated from this source. ## **4. Grants** No income generated from this source. ## **5. Interest and Investments** No income generated from this source. ## 6. **Gifts in Kind** Like many charities, Tope Ojo Memorial Welfare Organisation Limited relies heavily on the generosity of individuals who contribute their professional expertise free of charge. The trustees wish to extend their sincere thanks to all these generous supporters and to mention particularly the following individuals: Dr Anthony Ojo, for his expertise, time and inexhaustible patience spent on improving and maintaining the Tope Ojo Memorial Welfare Organisation Limited website and online capabilities. Without this free in-house resource, Tope Ojo Memorial Welfare Organisation Limited would not have been able to develop and maintain its website and database. Mr Oluwole Olusoga, who has been a major influence and support in the work with EC partners as well as spending countless hours checking and verifying Tope Ojo Memorial Welfare Organisation in Nigeria. He works to organise and recognise people who need to be helped in one way or the other and the type of help they would need before this is brought forward to the member of trustee. Mrs Oluwakemi Ojo, committee member and director of the charitable company, whose professional experience and energy ensured a smooth running of the company limited by guarantee and who continues to freely provide advice to the group. 7 Dr Anthony Ojo, committee member and now secretary, who provided sound governance advice and produced the charity’s first formal risk register. Governance costs have been kept to an exceptionally low level. Trustees rarely claimed expenses and travel and meeting costs have been minimal. ## **Expenditure** The main headings which are related to our charity work are explained here below. The rest of the expenditure and grant received is listed in the unaudited director report. ## **1. The relief of financial hardship** We continue to support numbers of beneficiaries this year. The beneficiaries supported were in UK and in Nigeria. £12,871 was spent on financial assistance in United Kingdom and in Nigeria. The charity access different beneficiaries and gave money to individuals based on the criteria we use to decide eligibility for aids. We provide foods, clothing, and housing to different people by doing shopping for them, by giving money to purchase what they are lacking, by buying clothes for them and housing them by paying their rent. Some of these are done as well in Nigeria by Tope Ojo memorial Welfare Foundation in Nigeria on our behalf. By providing support for Tope Ojo memorial Welfare foundation in Nigeria, we were able to carry out work on relief of financial hardship which give help to people suffering hardship due to poverty and poor health in Nigeria. ## **2. The advancement of education** a. We continue to contribute towards advancement of education we involve in is not limited to formal education at schools, colleges, or universities. It can also include playgroups. £33,724 was spent on advancement in education during this year. b. Education in the charitable sense that we are supporting does not include propagandist or political activities nor the study of subjects which have no educational value. We give money to beneficiaries to support their education. We donate to playgroups. These charitable aims were also carried out in Nigeria by Tope Ojo memorial Welfare Foundation. We were able to see what they are doing during Dr Anthony Ojo visit to Nigeria. ## **3. Donations to other Charities** We kept working with Tope Ojo Memorial Welfare Foundation Trust in Nigeria. An amount of £8148 was donated to Tope Ojo memorial Welfare Foundation in Nigeria. This money was used to carry out various charity jobs which were able to confirm during a visit of Dr Anthony Ojo and Mr Chris Aniyi to Nigeria. We contributed towards Erinmope Ekiti Public Library. We continue to provide furniture, computers and provide books. Erinmope Ekiti golf course funding continues which aim to help to develop amateur golf players. We 8 delightly donate towards the development of this golf course in Nigeria for amateur sport. We continue to contribute towards re-equipping of the science laboratory of Erinmope Ekiti High School where abject poverty had made it difficult to maintain the Science laboratory for the students. Again, during the year 2017/2018, it came to the notice of Tope Ojo memorial Welfare Foundation in Nigeria that the last year students from the school did not have science equipment for their GSSC equivalent West African Examination Council examinations. We had been able to help in this wise. Tope Ojo Memorial Welfare Organisation Ltd make sure that all money sent to Nigeria is used for the purpose it is meant for by visiting Tope Ojo Memorial Welfare Foundation and went through the records and their account. We also go on site to see all the charitable activities which were carried out by this organization. This is done by one of the trustee members. ## **4. Rent & Accommodation Assistance.** Some beneficiaries approached us for support. £6,439 was spent to provide accommodation. This is a form of financial assistance. Most of who had problem due to one reason or the other. Their reason is mainly tinted with reason like not having enough money. Money was given to help to pay for their rents. ## **5. Travelling Expenses** £0 spent on transportation costs this year. Lots of field visit to places where we have projects going on were not done due to COVID19 pandemic. Visits to students we are supporting financially were done by video link this year as well. ## **6. Healthcare Support and Assistance.** £12,915 supporting healthcare and paying for medications were favourable charitable needs the trustees voted more on this year. We received more request for help on these issues. We earmarked people who needed immediate healthcare needs this year. We spend more money to help this people. They are mainly people struggling financially to make both ends meet. Taking decision as to help them were based on the need and principle to improve their morbidity and give them long live-in good health and able to care for themselves and operations were done this year both in Nigeria and in United Kingdom for people who were not entitled to NHS care. ## **Reserves Policy** The trustees aim to have some money in reserve. As now, we do not have any reserve. We aim to build up some reserve. At this level, the trustees feel that they would be able to honour current commitments in the event of a significant drop in income. If we have more donations, we would be able to have more reserve and could better plan on our expenditures and outgoing. Note the reserves policy includes an explanation of the target level of reserves, the reserves held, and the charity’s plans to increase its reserves (paragraph 55). 9 ## **Plans.** ## The Trustees’ immediate plans include: - Continuing to provide existing support for Tope Ojo Memorial Welfare Foundation in Nigeria to carry out charity work. - Expanding services to meet the growing demand for beneficiaries in United Kingdom within the available resources. - Continuing to develop the information project and to increase income to permit an expansion of this service while reducing the current unreasonable burden on existing staff who work well and not paid for what they do. - Developing a strategy for charity’s core activities: support for beneficiaries, support for Tope Ojo Memorial Welfare foundation, alleviation of poverty, advancement in education. - Developing an operating plan to boost income to fulfil the objectives of the charity on a long-term basis. - The charity has identified that its performance reporting requires further development and has outlined the measures it is taking in the section on plans for future periods. - Water had been a major problem in some villages in Nigeria. We have people on ground we are working with to do geophysical studies. We know through them the area of the Nigeria where there is no pipe borne water. We had been helping these communities with bore holes. ## **Statement of Responsibilities of the Trustees** The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the situation of the charitable company and of its incoming resources and application of resources, including the net income or expenditure, for the period. In preparing those financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently. - make judgements and estimates that are reasonable and prudent. - state whether applicable accounting standards and statements of recommended practice 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of charity and which enable them to ensure that the financial statements comply with the Charities Act 1993. The trustees 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. In 2018, the international aid sector joined forces to improve safeguarding practices and significant progress has been made. The UK Parliament International Development Committee demonstrates that further work still needs to be done. We shall hence act 10 according to recommendation on the safeguarding improvements in 4 key areas advised and following key steps: Strengthen safeguarding risk prevention and risk management measures. Improve reporting by local beneficiaries. Develop management responses including victim and survivor support. ## **The Trustees** The trustees who served during the year and up to the date of this report were as follows: Oluwakemi Ojo Adebola Adesida Oluwole Ojo Oluwole Olusoga The trustees have no beneficial interest in the charity. ## **Auditors** Tockan & Co, Chartered Accountants, 289 Brettenham Road, Edmonton, London, N18 2HF was re-appointed as the charity's auditors during the year, and they expressed their willingness to continue in this capacity. Approved by the trustees on 4th November 2020 and signed on their behalf by ## **Anthony Ojo electronically signed.** **Dr Anthony Ojo, Secretary** 11 Registered number.. 05202912 TOPE OJO MEMORIAL WELFARE ORGANISATION LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 TOCKAN & CO CHAFiTERED CERTIFIED ACCOUNTANTS 289 Brettenharn Road Edmonton London NL82HF TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Financial Statements For The Year Ended 31 August 2020 Contents Page Company Information Accountant's Report Income and Expenditure Account Balance Sheet The following pages do not form part of the statutory accounts.. Detailed Income and Expenditure Account TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Company Information For The Year Ended 31 August 2020 Directors Dr ANTHONY OJO Mr VICTOR OLUSOGA Mr ADEMOLA ADESIDA Mrs OLUWAKEMI OJO Mrs ABIGAIL OLANIYA Mr CHRISTOPHER ANIYI Company Number 05202912 Registered Office 13 CLEGG SQUARE SHENLW LOOGE MILTON KEYNES BUCKTNGHAMSHIRE MK5 7HG Accountants TOCKAN & CO CHARTERED CERTIFIED ACCOUNTANTS 289 B￿ttenharn Road Edrnonton London NIB 2HF Page I TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Accountant's Report For The Year Ended 31 August 2020 In accordance with the engagement letter dated (Insert Date here), and in order to assist you to fulfil your duties under the Companies Act 2006, we have cotnpiled the financial statements of the company which comprise the Income and Expenditure Account the Balance Sheet and the related notes frorn the accounting records and information and explanation5 you have given to U5. This report is rnade to the Company's Board of Directors, a5 a bodyi in accordance with the terms of our engagernent. Our work ha5 been undertaken so that we might compile the financial 5taternent5 that we have been engaged to compile, report to the Company's Board of Directors that we have done $0, and State those tnatters that we have ag￿ed to state to them in thi5 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 Company and the Company's Board of Directors, as a bodyi for our work or for this report. We have carried out this engagement in accordance with technical guidance issued by the IlInsert the name of your Professional Accountancy Bodyll and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements. You have acknowledged on the balance sheet as at year ended 31 August 2020 your duty to ensure that the company has kept proper accounting records and to prepare financi31 statements that give 3 true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry OLJt an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements Signed 2411012020 TOCKAN & CO CHARTERED CERTIFIED ACCOUNTANTS 289 Brettenham Road Edmonton London N18 2HF Page 2 TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Income and Expenditure Account For The Year Ended 31 August 2020 2020 2019 TURNOVER 77,350 11,040) 1343) 176,310) 73,415 12,6691 14701 171,9311 staff costs Depreciation and other amounts written off assets other charges NET DEFECIT 1343} 11,6551 Page 3 TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Balance Sheet As at 31 August 2020 2020 2019 Fixed assets 1,066 1,409 Current assets 928 928 Creditors.. Amounts Falling Due Within One Year 14,1101 14,1101 NET CURRENT LIABILITIES 13,1821 13,1821 TOTAL ASSETS LESS CURRENT LIABILITIES 12,1161 11,7731 Accruals and deferred income 11,7501 11,7501 NET LIABILITIES 13,8661 13,5231 RESERVES 13,8661 13,5231 Notes l. Average Number of Employees Average number of employees, including directors, during the year was.. NIL (2019.. 1 2. Company limited by guarantee The company is limited by guarantee and has no share capital. Every mernber of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. 3. General Information TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Registered number 05202912 is a limited by gu3r8ntee comp8ny incorporated in England & Wales. The Registered Office is 13 CLEGG SQUARE, SHENLEY LODGE, MILTON KEYNES, BUCKINGHAMSHIRE, MK5 7HG. Page 4 TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Balance Sheet (continued) As at 31 August 2020 For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Cornpanies Act 2006 relating to small companies. Directors. responsibilities: The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Art with respect to accountlng records and the p￿paratIOn of accounts. These accounts have been prepared in accordance with the micro-entity provisions. On behalf of the board Dr ANTHONY OJO Director 2411012020 Page 5 TOPE OJO MEMORIAL WELFARE ORGANISATION LTD Detailed Income and Expenditure Account For The Year Ended 31 August 2020 2020 2019 TURNOVER Donations received 77,350 73,415 AFF COSTS Tffivelling expenses 1,040 2,669 11,0401 12,6691 DEPRECIATION AND OTHER AMOUNTS wRr￿EN OFF ASSETS Depreciation of computer equipment 343 470 13431 14701 OTHER CHARGES Postage & stationery Rent & accommodation asslstance 450 539 6,439 12,871 33,724 12,915 15,157 17,552 31,799 4,553 270 Poverty alleviation & assistance Educational assistance Healthcare support & assistance Telephone Accountancy fees Donations to other charitable organisations Sundry expenses 1,750 8,148 13 1,750 185 126 (76,3101 (71,9311 NET DEFICIT 13431 11,6551 Page 6 ## CHARITY COMMISSION **Independent examiner's report on the** FOR ENGLAND AND WALES **accounts** ## **Section A** ## **Independent Examiner's Report** **Report to the trustees/ members of** Tope Ojo Memorial Welfare Organisation Limited **On accounts for the year** 31st August, 2020 **Charity no** 1109730 **ended (if any)** I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 2, 3 , **Setouton pagesl** � _1_,_ _ _ _4_&_s _______________________ � **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). under section 145 of the I report in respect of my examination of the Trust's accounts carried out 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 1 45(5)(b) of the Act. The charity ’ s gross income does not exceeded £250,0 00.00 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. 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 accounts to be reached. _lete the words in the brackets if they do not apply_ - ---, **Signed: Date:** 26_ 1_h -0-c-to_b_e-r,-2-0_2_0 I _-�_ I _(�/_ r--1 **Name:** J Yusufu Tockan FCCA **Relevant professional qualification(s) or body** I Chartered Certified Accountant' **-** - --------------------------� ## **IER** **Oct 2018** 1 (if any): Address: Tockan & Co., Chartered Certified Accountants 289 Brettenham Road, Edmonton London N18 2HF. Section B Disclosure Only complete If the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018 TOPE OJO MEMORIAL ORGANISATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 TOTAL TOTAL UnrestricteRestricte¢ FUNDS FUNDS Funds Funds 2020 2019 Notes Incoming resources Voluntary income Total incoming resources 2a 77,350 77,350 77,350 77,350 73.415 73,415 Resources expended Organisation's Operating Activities Ordinary activities other resources expended Total resources expended 77,350 470 77.820 77,350 470 77,820 74,600 1,498 76,098 Net incomingl(outgoing) resources Movement of funds Net movement in funds (470) {470) (2,683) 470 470 2,683 Totsl funds brought forward at 1 Septeber 2019 (3,523) (3,523) (1 ,8241 Total funds carried forward at 31 August (3,993) (3,993) (3,523) Page 1 TOPE OJO MEMORIAL ORGANISATION LIMITED BALANCE SHEET AS AT 31 AUGUST 2020 Notes 2020 2019 Fixed assets l angible assets 1,Ubb 1,4U9 Current assets Debtors Cash at bank and in hand 928 928 928 928 Creditors: amounts falling due within one year -5,860 -5,860 Net current assets -3,866 -3,523 Total assets less current liabilities -3,866 -3,523 NET ASSETS -3,866 -3,523 Funds Restricted funds Unrestricted funds -3,993 -2,163 -3,993 -2,163 Approved by the Board of Directors and signed on its behalf Dr Anthony Ojo Director The accompanying notes form a part of these financial statements. Page 2 TOPE OJO MEMORIAL ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 1. Accounting policies a Accounting convention The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the organisation is responsible in law. Funds accounting Funds held by the organisation are.. b Unrestricted funds - general funds which can be used for the organisation's ordinary pU￿oses. Designated funds - The organisation did not have monies set aside for specific future purposes or projects. Restricted funds The organisation did not received any funds or grants to be expended on restricted projects. c Voluntary Income Collections are recognised when received. Planned giving re￿1vable is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is d Resources used Resources expended are accounted for on a cash basis and are accounted for as paid Grants Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the organisation. Page 3 TOPE OJO MEMORIAL ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 2 Incoming resources TOTAL Unrestricted Restricted FUNDS Funds Funds 2020 TOTAL FUNDS 2019 a Voluntary income Planned giving 77,350 77,350 73,415 Total incoming resources 77,350 77,350 73,415 3 Resources expended TOTAL FUNDS 2020 TOTAL FUNDS 2019 Unrestricted Restricted Funds Funds Organisation's running expenses. Telephone Postsge & stationery Website & equipment maintenance Travelling expenses Donations to other charities Rent & accommodation assistance Poverty alleviation & assistance Educational assistance Sundry expenses Accountsn¢y Healhcare support & assistance 270 539 450 450 1,040 8, 148 6,439 12,871 33,724 1,040 8,148 6,439 12,871 33,724 13 1,750 12,915 2,669 185 15,157 17,552 31,799 126 1,750 4,SS3 1,750 12,915 Depre¢iation of fixed assets 77.350 77,350 74,600 Other resources expended Bank charges Depre¢￿tsOn 343 343 343 343 470 470 Total resources expended 77,693 77.693 75.070 Page 4 TOPE OJO MEMORIAL ORGANISATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2020 4 Analysis of Net assets by fund Unrestri¢te( Restricted fotal Funds Funds Funds 2019 Total assets Current liabilities Long tem liabilities 2,337 -5,860 2,337 -5,860 -3,523 -3.523 5 Statement of funds Bal blfwd Income 1 Sept. 2019 Transfers, Bal clfwd other gains 31 Aug 2020 and losses Unrestricted Fund -3,523 -3,523 77,350 77,350 -77,693 -77,693 -3,866 -3,866 Restricted Fund Total funds -3,523 77,350 -77,693 -3,866 Page 5