2024-10-31-accounts - The Benin Trust

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THE BENIN TRUST FINANCIAL STATEMENT AND ANNUAL ACCOUNTS FOR 2023/24 CHARITY 1116338

THE BENIN TRUST Charity Number: 1116338

REPORT OF THE TRUSTEES FOR THE PERIOD 1 NOV. 2023 – 31 OCT. 2024

The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31 October 2024.

Registration

The Benin Trust was registered with the Charity Commission on 10 October 2006 and commenced operations on the same date.

Principal Activities

During the reporting period, the Charity’s principal activities included:

Supporting senior citizens and promoting volunteering.
Organising youth mentoring and health promotion programmes.
Providing sports and recreational activities.
Delivering vocational education, including entrepreneurship, filmmaking, arts, and mother tongue language training.
Offering job-search support and capacity-building workshops.
Conducting research and promoting Black history and heritage.
Undertaking other general charitable and community development activities.

Review of Operations

The results for the year and the financial position of the Charity are set out in the accompanying financial statements.

All Trustees, being eligible, offer themselves for re-election at the forthcoming Annual General Meeting.

Election of Trustees

Trustee Name

Status Date of Re-election

Mr. Stewart Bowie Resigned and re-elected 4 November 2024 Ms. Damilola Alabi Resigned and re-elected 4 November 2024 Rev. Frimpong-Manso Hoffman Resigned and re-elected 4 November 2024 Mr. Justin Oloya Resigned and re-elected 4 November 2024

Volunteers

The Charity is supported by 20 dedicated volunteers who contribute across various areas, including:

Charity management (Trusteeship)
Youth mentoring
Black History Month programmes
Food Bank operations
Tuesday community lunches
Practical assistance and peer support
Fundraising and awareness campaigns

Achievements and Performance Charitable Activities Overview

The Trustees are pleased to report a successful year in which The Benin Trust organised and delivered impactful community projects funded by two major grants:

Awards for All Grant – supporting the Afrobrits Festival , celebrating cultural diversity and community spirit.
Heritage National Lottery Fund – supporting the Ebira Handweaving Heritage Research Project , highlighting traditional craftsmanship and cultural heritage.

These initiatives continue to strengthen community bonds, celebrate identity, and empower members through inclusive participation and cultural learning.

Community Recovery and Resilience

In the wake of post-COVID-19 challenges, the Charity continues to focus on rebuilding community engagement and restoring face-to-face services. Although some limitations remain, we have maintained a strong level of service delivery through a combination of online , telephone , and in-person support.

We have also been actively involved in advocacy efforts with both Central and Local Government agencies to ensure our community’s needs and concerns are represented.

COVID-19 Support Measures

The Benin Trust implemented specific measures to assist members during and after the pandemic, ensuring access to:

Updated public health and safety information
Medication and food deliveries
Regular welfare checks and support

Range of Services Provided

The Charity continues to offer a broad range of services, including:

Community engagement and cultural awareness programmes
Health and well-being support (physical and mental health)
Educational workshops and training
Advocacy and representation
Drop-in and social care support
Peer and emotional support
Food Bank operations
Access to individual grant-making charities
Educational resources and mentoring
Social events and cultural activities
Visits by health and social care professionals
Legal and housing advice and referrals

We are grateful for the resilience and unity shown by our members and partners. Together, we will continue to celebrate our heritage and build a stronger, healthier community.

Reserves Policy

To ensure sustainability and continuity, The Benin Trust maintains a reserves policy designed to cover any delays in grant or funding receipts.

Our reserves allow us to:

Meet short-term operational needs.
Honour longer-term commitments.
Maintain service delivery without interruption.

The Charity’s services are primarily funded through grants, donations, and rental income , and we remain proactive in securing diverse funding sources to maintain financial stability.

Future Plans

Looking ahead, the Benin Trust aims to:

Strengthen collaborative partnerships with like-minded organisations and agencies.
Increase income generation through building rentals and events.
Monitor and adapt our service delivery based on community feedback and evolving needs.
Diversify our funding through a strategic fundraising plan, including targeted grant applications and sponsorship opportunities.

Risk Management

The Trustees regularly review risks affecting the Charity to ensure preparedness and resilience. The principal risk identified remains a potential reduction in income . To mitigate this, we have established contingency measures and efficient financial management systems to safeguard our operations and sustain essential services.

Basis of Report

This report has been prepared in accordance with the Trust’s accounts under Section 145 of the Charities Act 2011 , along with all applicable directions issued by the Charity Commission under Section 145(5)(b) .

The Trustees remain committed to transparency, accountability, and good governance, ensuring that all stakeholders are fully informed about the Charity’s performance, activities, and financial health.

Signed on behalf of the Trustees, The Benin Trust ON Whi OFTHE TRUSTEES

FOR THE PERIOD 1ST NOVEMBER 2023 TO 31[ST] OCTOBER 2024

THE BENIN TRUST CHARITY INFORMATION

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

AN INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES/MEMBERS OF THE BENIN TRUST ON THE ACCOUNTS FOR THE YEAR ENDED 31[ST] OCTOBER 2024.

Respective responsibilities of trustees and examiners

We report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31st October 2024. 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 the independent examiner’s statement

My examination was carried out in accordance with the 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.

Independent 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 8 /02/2025.

7 THE BENIN TRUST CHARITY NUMBER 1116338 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024 Income resource Notes Newham Council Award for All Heritage Lottery Fund Institute of Small Business Mgt. Training and workshops Benin Festival & Awards Total Income Resource Resource Expanded Direct Charitable Expenses Other Expenditure Fundraising and publicity Volunteer expenses Management & Administration Depreciation Net Movement before transfer Transfer between Funds Bal. B/ Forward at 1stNov. 2023 Bal. C/Forward 31st Oct. 2024 Unrestricted Funds £ - 5,000 14,402 10,189 29,591 12,068 1,300 - 15,220 1,003 29,591 - 7,525 7,525 Restricted Funds £ - - 41,787 - - - 41,787 17,537 1,500 3,750 19,000 - 41,787 - 10,100 10,100 Total Funds 2024 £ - - 41,787 5,000 14,402 10,189 71,378 29,605 2,800 3,750 34,220 1,003 71,378 - 17,625 17,625 Total Funds 2023 £ - - 41,787 5,000 13,600 15,585 75,972 24,837 2,400 2,250 33,220 1,003 63,710 12,262 5,363 17,625 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 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024 Income resource Notes Newham Council Award for All Heritage Lottery Fund Institute of Small Business Mgt. Training and workshops Benin Festival & Awards Total Income Resource Resource Expanded Direct Charitable Expenses Other Expenditure Fundraising and publicity Volunteer expenses Management & Administration Depreciation Net Movement before transfer Transfer between Funds Bal. B/ Forward at 1stNov. 2023 Bal. C/Forward 31st Oct. 2024 Unrestricted Funds £ - 5,000 14,402 10,189 29,591 12,068 1,300 - 15,220 1,003 29,591 - 7,525 7,525 Restricted Funds £ - - 41,787 - - - 41,787 17,537 1,500 3,750 19,000 - 41,787 - 10,100 10,100 Total Funds 2024 £ - - 41,787 5,000 14,402 10,189 71,378 29,605 2,800 3,750 34,220 1,003 71,378 - 17,625 17,625 Total Funds 2023 £ - - 41,787 5,000 13,600 15,585 75,972 24,837 2,400 2,250 33,220 1,003 63,710 12,262 5,363 17,625 Total recognised gains and losses The charity has no recognised gains and losses other than the surplus for the financial year.
	75,972
	24,837 2,400 2,250 33,220 1,003
	63,710 12,262 5,363

	17,625

THE BENIN TRUST CHARITY NUMBER 1116338 BALANCE SHEET AT 31[ST] October 2023

FIXED ASSETS	Notes	2024	2024	2023	2023
		£	£	£	£
Tangible assets	2		1,676		2,679
CURRENT ASSETS
Stock		7,754		450
Debtors		1,260		1,200
Cash and bank		8,185		16,596
		17,199		18,246
CREDITORS
Amounts falling due within	Amounts falling due within
one year		(1,250)		(3,300)
NET CURRENT ASSETS	NET CURRENT ASSETS		15,949	15,949	14,946
TOTAL ASSETS			17,625		17,625
CAPITAL AND RESERVES
Unrestricted funds		7,525	7,525		7,525
Restricted funds		10,100	10,100		10,100

Funds Balance Carried forward		17,625	17,625	17,625	17,625

The charity’s trustees are responsible for preparing 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 8/02/2025

THE BENIN TRUST

CHARITY NUMBER 1116338

NOTES TO THE FINANCIAL STATEMENTS FOR THE 31ST OCTOBER 2024

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 differences except to the extent that, in the opinion of the directors, there is a reasonable probability that the liability will not arise in the foreseeable future.

2. Income Sources

The charity's income is in the form of grants and donations for its charitable purposes, and it did not engage in trading during the period under review.

3. Reserves

The restricted and unrestricted reverses are the 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 as of 1st November 2023 Addition Total Charge for period to 31ST October 2023 Accumulated depreciation 1stNov. 2022 NET BOOK VALUE	(1,003) (4,006)	6,685 - - 6,685 (5,009) £ 1,676

5. Debtors' amount falling due within one year.

These are grants due to the charity from its client-part-funded projects.

6. Creditors' amount

Amounts falling due within one year are money owed for supplies of goods and services.

7. Intangible income

Tangible income is in the form of in-kind funding, gifts, seconded staff, and volunteers 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 of during the year. The Trustees have a reasonable expectation that the charity has adequate resources to carry on in operations. 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.