**THE BENIN TRUST FINANCIAL STATEMENT AND ANNUAL ACCOUNTS FOR 2020/21 CHARITY 1116338** 1 ## **THE BENIN TRUST CHARITY NUMBER 1116338** ## **REPORT OF TRUSTEES FOR THE PERIOD 1[ST] NOVEMBER 2020 TO 31[ST] OCTOBER 2021** The Trustees present their report with the financial statements of the charity for the period 1[st] November 2020 to 31[st] October 2021 ## **REGISTRATION** The Charity was registered on 10 October 2006 and commenced business on the same date. ## **PRINCIPAL ACTIVITIES** The principal activities of the charity in the period includes the provision of senior citizen support and volunteering, organizing youth mentoring and health promotion, provision of sports and recreational services, delivering vocational education including entrepreneurship, film-making, arts and mother tongue language training, offering job-search, capacity building workshops, research, promotion of black history and heritage and other general charitable activities ## **REVIEW OF BUSINESS** The results for the period and financial position of the company are as shown in the annexed financial statements. All the Trustees, being eligible, offer themselves for election at forthcoming first Annual General Meeting. ## **ELECTIONS OF TRUSTEES** |Mr. Stewart Bowie|- Resigned and re-elected on 4thNov. 2021| |---|---| |Ms. Damilola Alabi|- Resigned and re-elected on 4thNov. 2021| |Rev. Frimpong-Manso Hoffman - Resigned and re-elected on 4thNov. 2021|| |Mr. Justin Oloya|- Resigned and re-elected on 4thNov. 2021| ## **VOLUNTEERS** The Charity currently has a total of 15 volunteers. Key areas of volunteer support are The Charity Management (Trustees), the Youth mentoring, Black History Month, Food Bank, Tuesday lunches, practical help, peer support, fundraising and awareness raising. 2 ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Since the announcement of National Lockdown relating to Covid 19, The Benin Trust has significantly limited it services. Apart from very few exceptions The Benin Trust has not provided face to face services at the Organisations Centre. However, The Benin Trust as continued to provide online and telephone support to its members as well as liaison with other Central Government and Local Government bodies in an advocacy role for its members. In addition, The Benin Trust has provided Covid 19-specific support, ensuring its members have up to date information about staying safe, have uninterrupted supply of medication and access to regular food deliveries where necessary. Below are the services The Benin Trust provides. Because of Covid 19 some are currently suspended: - Drop in facilities - Social care support - Peer support - Emotional support - Advocacy - Food Bank - Access to grant making charities for individuals - Educational resources - Visiting health and social care practitioners - Social Events - Referral and support on legal issues - Housing support and advocacy ## **INTERNAL AND EXTERNAL FACTORS** The Benin Trust has continued to deliver on its Service Level Agreement with funders. The Benin Trust will continue to encourage Service Member involvement, particularly in relation to fundraising. ## **RESERVES POLICY** In order for The Benin Trust to meet its stated aims and objectives it continues to seek grants as well as donations and fundraising events/activities. Grants and rental income received will in turn dictate the level of service that The Benin Trust can provide to its service members. The Benin Trust has established a policy whereby the unrestricted funds not committed or invested in the tangible fixed assets (the free reserves) are at a level to carry forward a significant level of reserves to cover any delay in receipts to meet short term funding requirements and longer-term financial commitments. 3 ## **FUTURE PLANS** The Benin Trust will continue to seek collaborative and complementary work opportunities with agencies that complement its service development and delivery. The Benin Trust will continue to look for income generation through building rental. The Benin Trust needs to constantly monitor its service development and delivery. This should be in response to the needs of its members, in consultation with its funders and within the resources it has and in response to Covid 19 developments. The Benin Trust will continue to seek greater diversity in its funding streams by identifying projects for which it can seek specific grant funding. The Benin Trust will develop a funding strategy for this purpose. ## **RISK MANAGEMENT** The Trustees regularly review the risks to which the charity is exposed. The trustees have considered the major financial risk to the charity is the significant reduction in income and have put in place plans to mitigate this risk. ## **BASIS OF REPORT** This report has been prepared in accordance with Trust’s accounts carried out under section 145 of the 2011 Act and all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 4 ## **THE BENIN TRUST CHARITY INFORMATION** ## **FOR THE PERIOD 1ST NOVEMBER 2020 TO 31[ST] OCTOBER 2021** **TRUSTEES:** - Mr. Stewart Bowie - Ms. Damilola Alabi - Mr. Justin Oloya - Rev. Hoffman Frimpong-Manso **REGISTERED OFFICE:** First Floor, 21-23 Woodgrange Road, Forest Gate, London, E7 8BA. **CHARITY NUMBER:** 1116338 **BANKERS:** HSBC UK Bank Plc 59-61 Broadway, Stratford, London, E15 1XF. **ACCOUNTANTS:** Glory Community Accounting Service 318 Barking Road London E13 8HL 5 ## **AN INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES/MEMBERS OF THE BENIN TRUST ON THE ACCOUNTS FOR THE YEAR ENDED 31[ST] OCTOBER 2021.** ## **Respective responsibilities of trustees and examiner** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31st October 2021. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts 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. ## **Basis of independent examiner’s statement** My examination was carried out in accordance with general directions given by the charity commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. ## **Independents examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below) 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. Hasinatul JAHAN - MAAT Approved on the 4/11/2021 6 ## **THE BENIN TRUST** ## **CHARITY NUMBER 1116338** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2021** |**Income resource Notes**|**Unrestricted**|**Restricted**|**Total Funds**|**Total Fund**| |---|---|---|---|---| ||**Funds**|**Funds**|**2021**|**2020**| ||**£**|**£**|**£**|**£**| |Newham Council|-|1,000|1,000|| |UK Online Centre|-|-|-|1,500| |Institute of Small Business Mgt.||||| |Kingscrest Ltd|7,000|-|7,000|7,000| |Covid 19 palliatives & food bank|5,000|5,000|10,000|5,800| |Training and workshops|10,580|-|10,580|-| |Benin Festival & Awards|3,210|-|3,210|3,800| ||4,500|-|4,500|5,000| |**Total Income Resource**||||| |**Resource Expanded**|**30,290**|**6,000**|**36,290**|**23,100**| |Direct Charitable Expenses|21,640|1,195|22,835|11,545| |**Other Expenditure**||||| |Fundraising and publicity|1,100|500|1,600|1,500| |Volunteer expenses|2,200|565|2,765|2,725| |Management & Administration|3,600|3,640|7,240|6,620| |Depreciation|500|-|500|500| ||**29,040**|**5,900**|**34,940**|**22,890**| |Net Movement before transfer|1,250|100|1,350|210| |**Transfer between Funds**||||| |Bal. Brought Forward at 1stNov. 2020|3,775|-|3,775|3,775| |Bal. Carried Forward 31st Oct. 2021|**5,025**|**100**|**5,125**|**3,985**| ## **Total recognised gains and losses** The charity has no recognised gains and losses other than the surplus for the financial year. 7 ## **THE BENIN TRUST CHARITY NUMBER 1116338 BALANCE SHEET AT 31[ST] October 2021** |**FIXED ASSETS**
**Notes**
Tangible assets
2
**CURRENT ASSETS**
Stock
Debtors
Cash and bank
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS**
**CAPITAL AND RESERVES**
**Unrestricted funds**
**Restricted funds**
**Funds Balance Carried forward**||**2020**
£
650
550
1,250
2,450
(150)



|**2020**
**2021**
£
£
1,685
795
655
2,590
4,040
(100)
2,300

**3,985**
3,985

**-**
**3,985**
|**2021**
£
1,185
3,940
**5,125**
5,025
100
**5,125**| |---|---|---|---|---| The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The charity’s trustees consider that an audit is not required for this year and that an independent examination is needed. The Trustees acknowledge their responsibilities for: - (a) keeping the accounting records in accordance with section 130 of the Charities Act; and - the accounts to comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 and any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. Approved on the 4/11/2021 8 **THE BENIN TRUST** ## **CHARITY NUMBER 1116338** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE 31ST OCTOBER 2021** ## **1. ACCOUNTING POLICIES** ## **Accounting convention** The financial statements have been prepared under the accrual concepts in accordance with section 145(5)(b) of the 2011 Act ## **Deferred Taxation** Provision is made at current rates for taxation deferred in respect of all materials timing difference except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future ## **2. Income Sources** The income of the charity is in the form of grants and donations for its charitable objects and the charity did not engaged in trading in the period under review ## **3. Reserves** The restricted and unrestricted reverses are surplus of income over expenditure in the period under review ## **4. Tangible Fixed Assets** Fixed assets are depreciated at the rate of 15.70% per annum using the straight-line method. |Cost at 1st November 2020
Addition
**Total**
Charge for period to 31ST October 2020 (500)
Accumulated depreciation 1stNov. 2021 (1,500)
NET BOOK VALUE|3,185
-
3,185
(2,000)
£ 1,185| |---|---| ## **5. Debtors amount falling due within one year** Are grants due to the charity from its client part funded projects. ## **6. Creditors amount** Amount falling due within one year are money owned to supplies of goods and services. . 9 ## **7. Intangible income** Tangible income are inform of in kind funding, gifts, seconded staff and volunteered by local agencies to the Charity in support of its projects within the meaning of section 145(5)(b) of the 2011 Act. ## **8. Going Concern** None of the charity activities were acquired or disposed-off during the year. The Trustees have a reasonable expectation that the charity has adequate resources to carry on in operational. The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being for a period of at least twelve months from the date these financial statements were approved. Accordingly, The Benin Trust will continue to adopt this going concern basis in preparing its financial statements. 10