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Charity number.. 1148849
BELAZU FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

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BELAZU FOUNDATION
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financlal actlvltles
Balance sheet
10
statement of cash flows
Notes to the financial statements
12-18

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BELAZU FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 APRIL 2023
Trustees
William Jackson Food Group
Adam Wells
The Fresh Olive Company
Charity rggistgred
number
1148849
Principal office
The Fresh Olive Co Ltd
74 Long Drive
Greenford
Middlesex
UB6 8LZ
Accountants
James Cowper Kreslon Audit
Chartered Accountants
Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS
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BELAZU FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2023
The Trustees present their annual report together with the financial statements of Belazu Foundation (the
Charity) for the 12 month period ended 30 April 2023. The Trustees confirm that the Annual report and financial
statements of the Charity comply with the current statutory requirements, the requirements of the Charity's
goveming document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (effective 1 January 20151.
Objectives
The Belazu Foundation is focused on supporting food and educational projects for children and families in the
UK and around the Mediterranean to promote education and healthy eating lo inspire futLJre generations.
Main activities
The Trustees believe that the activities detailed below further the charills purpose on public benefit. The
Trustees have had due regard to the Charity Commission guidance on public benefit.
Achievements and performance
Review of activities
Zakoura Foundation
The Zakoura Foundation provides quality education in Morocco, targeting vulnerable populations in rural areas.
The Zakoura Foundation was the first charitable partner of the Belazu Foundation. We have been working
together since 2003 to provide education facilities and education for over 1000 women and children. Not only do
they learn French and Arabic on lop of their mother tongue Berber, but they are also offered different projects
about hygiene, parenting, healthy food and sewing.
The past year the Belazu Foundation has helped with supporting two schools in two villages in the Atlas
Mountains around Marrakesh, Aourir and Tidli. In total the project received a funding of £38,400, split over two
years. An additional £2,440 was donated to fund a second teacher. The programme runs for 60 preschool
children aged 4-6 years old.
During the pandemic, education was interrupted, and the schools were closed from 16th March 2020 lill the
beginning of September 2020 This meant there was remaining funds of 69,399MAD deducted from the total of
235,021 MAD, of which a further 85,711 MAD1£7,0161 was transferred in January 2022. The remaining 79,911
MAD {£6,3501 is due in 2023.
The project was developed in collaboration with UNICEF and is based on community involvement. The
preschool project is part of an integrated vision targeting children, parents and the community. It includes
education with awareness and inclusivity.
Main objectives..
The social development of the child
Basic learning
School dropout prevention
An improvement in the acquisition of preschool skills and overall level of the children was seen, exceeding the
objective of 75,/0 lo achieve 880/0. Environmental awareness sessions were integrated in the preschool
programme with a focus on general understanding of the elements that make up the environment through the
use of drawing, song and game activities.
School Food Matters
School Food Matters campaigns for fresh, sustainable school meals and delivers food education programmes to
gel children cooking, growing and out onto a farm.
Fun and Food Club
The Fun and Food Club project provides children with regular access lo a healthy hot meal and safe play during
the Summer and Easter holiday.
The summer Fun and Food club took place at Willow Tree Primary School in August 2022. We have been
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2023
working with Willow Tree Sin￿ the beginning of the Fun and Food Club. In total we donated £11,673.00 and this
resulted in 59 children allending the Fun and Food club for 10 days.
In the middle of August 18-19th August 20221, Belazu teamed up with School Food Matters ISFMI lo host
another successful Summer Holiday Food and Fun IHFAFI programme al Willow Tree Primary School in
Northolt. Each day was action packed with a range of play-themed activities on offer, as well as food education
sessions led by SFM. A hol, nutritious lunch was provided for the children each day with a strong emphasis on
improving the children's confidence around food. The programme, which look place from 10am to 2pm each
day, supported families in the Willow Tree community by offering both financial and emotional respite in
response lo the ongoing cost of living crisis. However, it also ensured that children could have fun in a safe and
supportive environment.
93°/o of children had fun and said that they had enjoyed the programme and 81 /0 said that they had made new
friends. 100 % of parents surveyed said that they were 'salisfied' with the programme. The programme supported
families financially by providing access lo a hol, nutritious meal each day for free. 87 /0 of parents with children
eligible for free school meals said that the programme had a positive influence on household food costs. Over
the course of the ten days, 507 meals were served lo children. Children were very positive about the quality of
food with 55/0 describing it as 'fantaslic' or 'really good,. Volunteers and leaching staff were crucial to set a
positive example to the children during lunchtimes by promoting fruit and vegetable uptake.
The food education part of the programme proved particularly effective in improving children's relationship with
food. By preparing veg themselves., the children were able lo gel familiar with new foods and explore the different
lexlures and smells associated with herbs and vegetables.
The Easter Fun and Food club The summer Fun and Food club look place at Willow Tree Primary School in
April 2023. We have been working with Willow Tree Sin￿ the beginning of the Fun and Food Club. In total we
donated £4,715.00 and this resulted in 59 children allending the Fun and Food club for 10 days.
In the first few days of the Easter holidays {3-51h April 20231, Belazu teamed up with School Food Matters ISFMI
lo host another Holiday Food and Fun IHFAFI programme al Willow Tree Primary School in Northoll. The format
differed lo the summer programme, as il catered exclusively for Year 6 children who will be taking their SAT
examinations in June. Therefore, each day was slruclured by revision in the morning and sport or SFM-led food
education sessions in the afternoon. However, the programme, which took place from 10am lo 2pm each day,
still maintained its overarching goal of alleviating food insecurity for the Willow Tree community by providing a
hol, nulrilious lunch for the children each day. 11 also ensured that children could have fun in a safe and
supportive environment.
The scheme supported children's leaming, and specifically targeted those who had been impacted by Covid-19.
The DHT for Inclusion staled that the motivation for the scheme was based on.. "Acknowledging the link between
good food and nutrition, as well as pupil allainment and emotional wellbeing. We hope that by combining the ￿0,
pupils with leave the club with greater confidence in their abilities.
Over the course of the three days, 119 meals were seNed lo children and a further 23 meals were seNed lo
staff and volunteers. 11 is important lo note that this year, the holiday programme took place al the same lime as
Ramadan which meant that each day 9-12 children were fasting. Children were very positive about the quality of
food with 70 /0 describing it as 'fanlaslic' or'really good,.
Children were able to allend gardening workshops with the offer of learning more about seeds and soil, making
paper pols lo plant up different vegetsble seeds and going on a mini beast huntl The food education part of the
programme proved particularly effective in improving children's awareness about where food comes from. Over
the course of the gardening sessions, children recognised the wider conlexlual importance of 'growing your own,
with one child stsling. Il's important for us lo learn how to grow vegetables as food is so expensive so if we can
grow our own then we can save money..
Fresh Enter
rise
"Students found it a great experience. They fell proud lo present in front of the judges and enjoyed working with
other schools." Teacher, Oakwood School
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2023
The Fresh Enterprise programme runs each year between January - April lo give school children an insight and
inspire them towards a career in the food industry. In the past year, -50°/o of students who took part experience a
disadvantage (difficulties in engagement or allendance, special educational needs or from a lower income
background). Ealing Borough has a lower employment rale compared lo the nats'onal average and the
programme aims to address this through developing the future talent of tomorrow.
School participation..
Oak Wood School Hillingdon.. Full programme
Belvue Schoo- Ealing.. Full programme
Greenford High School - Ealing.. Full programme
Fealherslone High School - Ealing.. Full programme
Villiers High School - Ealing.. Mini programme
Whilefield School Barnel.. Mini programme
Ellhorne Park School - Ealing.. Mini programme
Alec Reed Academy- Ealing.. Mini programme
The programme consisted of the following elements..
A tour of Belazu's specialist premises in Greenford for four of the schools, where they mel the people behind the
products, from production line lo packing, all the way lo distribution and marketing. 57 students and 3 teachers
attended in person during the full programme. 23 students participated in a virtual lour during the mini
programme.
A visit from our food teacher, Sharon Conrad, for a creative cooking maslerclass, where students could focus on
lasle and flavours and were challenged with creating a brand new Belazu product. 105 students and 13 teachers
attended.
A marketing workshop where students learned about creative ways lo design an eye-calching label for their
product and talked about essential presentation skills. 97 students and 10 teachers attended.
A lasting panel, where the students who created the favourile products at the cooking session presented their
pastes lo a panel that included Belazu's MD, product development expert and Procurement Director. 6 schools
attended.
lffley Academy
lffley Academy is an academy for children with complex special educational needs in Oxfordshire.
Once a year the Belazu Foundation organises a fun day for the children of the lffley Academy in Oxford. The fun
day is a day where the children can play in a safe environment. But also, where the families can meet each
other. A lol of families have never met the parents of their children's friends as the children come from all over
Oxford and are mostly picked up by the school bus. This day gives the children the possibility lo play wth their
friends and the parents can exchange shared experiences.
Activities organsied for the event included an inflatable obstscle course, crazy golf, garden games, fa￿ painting.
smoothie bikes and cupcake decorating. Belazu volunteers cooked pizzas for school children and their families,
who were able lo select ingredients including fresh vegetables and Belazu ingredients. The event cost £4,739.72
lo run.
Chefs in Schools
Chefs in Schools, mission is to encourage and enable schools across the UK lo serve great, creative school food
that doesn't just fill young people up, bul feeds their imagination loo. They believe that teaching the next
generation how lo cook and enjoy real food is crucial for their long-temi physical and mental health.
The past year Chefs in Schools was the Foundation's main partner.
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2023
Three more schools benefilled from our match funding {£26,000 donaledl and started the food transformation
programme this year, reaching 1,900 school children.
Seven Mills Primary School, Tower Hamlets
Broomfield Secondary School, Enfield
Christ's College Secondary School, Finchley
Case study.. Seven Mills previously worked with a council caterer and wanted support from us to train up their
team and develop exciting menus with everything cooked from scratch. Chefs in Schools Chef Trainer Adam
delivered an intensive training programme lo skill up the team on fish, portioning, hidden veg, cooking whole
vegetsbles, salads and bread. He sel the school up with our recommended suppliers, supporting the team with
budgeting lo create seasonal, diverse menus. The kitchen is now a positive hub al the heart of the school., the
food has dramatically improved, the spirits of the staff have been lifted and children are more engaged with what
they are eating.
The Belazu Foundation donated £25,000 lo establish the first ever Kitchen Equipment Fund, distributing grants
10 22 schools, reaching over 8,000 pupils, lo help them improve their food education and culture. The lotsl
funding for this programme tolaled £37,000 as an additional £12,000 of funds were reassigned from the 2020-21
Covid Emergency hamper programme.
Across the 22 schools, an average of 41 /0 of pupils were eligible for free school meals. Schools used their
funding in a variety of ways including..
Equipment for cookery lessons
Redecoralingl updating the dining hall to enhance the dining experience and create a positive food
environment
Growing programmes.. vegetsble palchl greenhouse - using the produce in the school kitchen
Equipment to enable outdoor cooking and dining.
Food Parcels
With 42°/o of Willow Tree Primary School's pupils enlilled lo free-school meals, we continued to support the
pupils and families throughout the year. Al Christmas we made & delivered food par￿1$ for over 70 families with
household cupboard staples including lins, rice and pasta as well as some Christmas Ireatsl £1,000 was
donated for this project.
Flnancial review
Since 2012 the Belazu Foundation has allocated over £590,000 lo educational projects in UK and around the
Mediterranean.
In 2022-2023 the Belazu Foundation raised £61,430 through 3QA profil donation by Belazu Ingredient Company,
fundraising events and donations. Staff from the Belazu Ingredient Company helped lo raise funds through cake
sales, jar sale, a raffle and other internal aclivilies. Belazu staff gave their lime lo volunteer with the programme
run by the Belazu Foundation. In lots1, £51,929 was donated by Belazu Ingredients Company and £8,275 was
raised through internal fundraising.
Through selling Belazu products that have passed their best before dale or with wonky labels on Too Good To
Go, £1,227 was fundraised from customer facing fundraising.
Reserve Policy
The policy on resetves will be monitored by the Trustees al regular meetings and reviewed on a regular basis.
The Trustees are of the opinion that the charity maintsins adequate reserves to cover future expenditure.
Constltutlon
The Trust is constituted by trust deed dated 31 August 2012. The Charills registered charity number is
1148849.
Method of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2023
Rlsk Management
The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the
operations and finan￿$ of the Charity, and are satisfied that systems and procedures are in place to miligale our
exposure lo the major risks.
Future plans
In 2023-2024 the Belazu Foundation will continue lo support food and educational projects for children and
families in UK and around the Mediterranean and promote education and healthy eating lo inspire future
generations.
The Belazu Foundation will keep supporting School Food Matters. The Food and Fun club will be organised in
both the Easter and summer holidays. We will involved one of our customers with a volunteering opportunity.
Fresh Enterprise will see the involvement of one of our retail customers to join the Tasting Panel.
The partnership with our longest charitable partner, the Zakoura Foundation, will continue and together with the
villages we have been supporting the past years, we will investigate other possibilities lo support them and
increase their accessibility lo education.
We will organise lffley Fun Day, bringing a team of volunteers lo put on activities, including pizza making, for the
school children and families.
We will continue our partnership with Chefs in Schools lo support the delivery of the School-by-school
programme and a contribution to their core costs to help them with expanding their reach.
The Fresh Olive Company will continue lo contribute 39/0 of their profits, alongside fundraising from internal
events and customer fundraising. Additional fundraising, with a tsrget of £20,000 will be raised in the first in-
person Belazu Banquet event.
Trustees. responsibilities statement
The Trustees are responsible for preparing the Trustees, report and the financial stslements in accordance with
applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting
Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial
statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of the
incoming resources and application of resources of the Charity for that period.
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 judgments and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless il is inappropriate to presume that the
Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient lo show and explain the
Charills transactions and disclose with reasonable accuracy at any time the financial position of the Charity and
enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts
and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by..
D￿dB￿n*r2￿Fry￿￿￿l25S￿fi&￿TwTc*OI
David Balmer
Trustee - Fresh Olive Company
Dale.. 28 February 2024
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BELAZU FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 APRIL 2023
Independent Examinevs Report to the Trustees of Belazu Foundation {'the Charity'l
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 April
2023.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 {'Ihe 2011 Act'l.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in
preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April
2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection wth the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements conceming the form and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other mallers 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.
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BELAZU FOUNDATION
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
This report is made solely to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities
IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's
Trustees those matters l am required lo stale to them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the
Charity and the Charity's Trustees as a body, for my work or for this report.
Signed=
Alexander Peal Bsc (Honsl FCA
28 February 2024
James Cowper Kreston Audit
Chartered Accountants
Reading Bridge House
George Street
Reading
Bert¢shire
RG1 8LS
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BELAZU FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 APRIL 2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Other trading activities
51,928
9,502
51,928
9,502
87,804
8,380
Total income
61.430
61.430
96,184
Expendlture on:
Charitable activities
95.635
95,635
68,491
Total expenditure
95.635
95.635
68,491
Net movement in funds
10
(34,205)
134,205)
27,693
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
42,667
(34.2051
42,667
(34.2051
14,974
27,693
Total funds carried forward
10
8,462
8,462
42,667
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 12 to 18 fomi part of these financial statements.
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BELAZU FOUNDATION
BALANCE SHEET
AS AT 30 APRIL 2023
2023
2022
Note
Current assgts
Debtors
Cash at bank and in hand
27,082
5,997
28,375
40,962
33,079
69,337
Creditors.. amounts falling due within one
year
124,6171
126,670)
Net current assets
8,462
42,667
Total assgts less ¢urrgnt liabilities
8.462
42,667
Total net assets
8.462
42,667
Charity funds
Reslricled funds
Unreslricled funds
10
10
8.462
42,667
Total funds
8,462
42,667
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by=
D&¥10EBlmw2QFab2W 1?￿3￿0￿ri￿rC*￿)
David Balmer
Dale.. 28 February 2024
The notes on pages 12 to 18 fomi part of these financial statements.
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BELAZU FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2023
2023
2022
Note
Cash flows from opgrating activities
Nel cash used in operating activities
12
134,9651
24,318
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
134,9651
40.962
24,318
16,644
Cash and cash equlvalents at the end of the year
13
5,997
40,962
The notes on pages 12 to 18 fomi part of these financial statements
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Accounting policies
1.1 Basls of preparatlon of flnanclal statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 2019}, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP IFRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Belazu Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised al historical cost or transaction value unless otherwise staled in the relevant
accounting policy.
1.2 Golng concern
The accounts have been prepared on the going concern basis. The Trustees are satisfied that
sufficient funds will be available lo support the activities of the Charity for at least 12 months from the
date of approval of the Trustees report.
1.3 Income
All income is recognised once the Charity has entillemenl lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
1.4 Expendlture
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 aclivily. 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 lo a single activity are allocated directly
to that aclivily. Shared costs which contribute to more than one activity and support costs which are
not allributsble lo 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 allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions allaching are
fulfilled. Grants offered subject lo conditions which have not been met al the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Accounting policies Icontinuedl
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-lerm highly liquid investrnenls with a short maturity
of three months or less from the date of acquisition or opening of the deFlOSit or similar account.
1.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the
amount il has received as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Income from donations and legacies
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Donations
51,928
51,928
87,804
Total 2022
87,804
87,804
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Other fundraising events
9,502
9,502
8,380
Total 2022
8,380
8,380
Analysls of grants
Grants to
Institutions
2023
Total
funds
2023
Total
funds
2022
Grants
63,951
63,951
48,577
Total 2022
48,577
48,577
The Charity has made the following material grants to institutions during the year=
2023
2022
Chefs in Schools
School Food Matters
Zakoura sponsorship
26.000
28,674
9,277
25,000
16,561
7,016
63,951
48,577
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Virtualsignalure Transaction Rel. 9JNH.6P92-35RX 28 Feb 2024 12.55-.37 GMT (UTC +0) D 111 P 17120
BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Analysis of expenditure by activities
Activities
undertaken
directly
2023
Grant
funding of
activities
Support
costs
Total
funds
2023
Total
funds
2022
2023
2023
Expenditure
5,358
63,951
26,326
95,635
68,491
Total 2022
1,400
48,577
18,514
68,491
Analysls of dlrect costs
Total
funds
2023
Total
funds
2022
Actlvltles
2023
lffley fun day
5,358
5,358
1,400
Total 2022
1,400
1,400
Analysis of support costs
Total
funds
2023
Total
funds
2022
Activities
2023
staff costs
22,977
1,389
1,960
22,977
1,389
1,960
16,000
888
Miscellaneous costs
Governance costs
1,626
26,326
26,326
18,514
Total 2022
18,514
18,514
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Virtualsignalure Transaction Rel. 9JNH.6P92-35RX 28 Feb 2024 12.55".37 GMT (UTC +0) D 111 P 18120
BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Independent examiner's remuneration
2023
2022
Fees payable lo the Charills independent examiner for the independent
examination of the Charitvs annual accounts
1.960
1,626
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12022 - £NILI.
During the year ended 30 April 2023, no Trustee expenses have been incurred12022 - £NILI.
Debtors
2023
2022
Due wlthln one year
Other debtors
27,082
28,375
Crgditors: Amounts falling dug Within ong year
2023
2022
Other creditors
22,697
1,920
25,000
1,670
Accruals and deferred income
24,617
26,670
Page 16

Virtualsignalure Transaction Rel. 9JNH.6P92-35RX 28 Feb 2024 12.55-.37 GMT (UTC +0) D 111 P 19120
BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
10.
Statement offunds
Statement of funds - current year
Balance at
30 April
2023
Balance at 1
May 2022
Income Expenditure
Unrestrlcted funds
General Funds - all funds
42,667
61,430
195,6351
8,462
Statement of funds - prlor year
Balance al
1 May 2020
Balance at
Income Expenditure 30 April 2021
Unrestricted funds
General Funds - all funds
14,974
96,184
168,491)
42,667
11.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Total
funds
2023
Current assets
33,079
124,6171
33,079
(24.6171
Creditors due within one year
Total
8,462
8.462
Analysis of ngt as$gt$ betwggn funds - prior ygar
Unrestricted
funds
2022
Total
funds
2022
Current assets
69,337
126,6701
69,337
126,6701
Creditors due within one year
Total
42,667
42,667
Page 17

Virtualsignalure Transaction Rel. 9JNH.6P92-35RX 28 Feb 2024 12.55".37 GMT (UTC +0) D 111 P 20120
BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
12.
Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Nel in¢omelexpenditure for the year las per Statement of Financial
Acliviliesl
134,2051
27,693
Adjustments for:
Decreasellincreasel in debtors
Increaselldecreasel in Creditors
1,293
(2,0531
128,3751
25,000
Net cash provlded byl{used Inl operatlng actlvltles
134.9651
24,318
13.
Analysis of Cash and cash equivalents
2023
2022
Cash in hand
5,997
40,962
Total cash and cash equlvalents
5,997
40,962
14.
Analysis of changes in net debt
At1May
2022 Cash flows
At 30 April
2023
Cash at bank and in hand
40.962
134,9651
5.997
40.962
134,9651
5.997
15. Related party transactlons
During the period ending 30 April 2023, Belazu Foundation received donations of £51,929 12022..
£56,854) from The Fresh Olive Company Limited Iva Belazu Ingredient Company), a company in
which the Trustees are Directors. During the period ending 30 April 2023, Belazu Foundation received
donations of £nil (year ending 30 April 2022.. £25,000) from Trustees of the Foundation.
Page 18