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Charity number.. 1148849
BELAZU FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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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
10
Balance sheet
statement of cash flows
12
Notes to the financial statements
13-19

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BELAZU FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 APRIL 2024
Trustees
William Jackson Food Group
Olivia Henson lappoinled 13 November 20231
Adam Wells
The Fresh Olive Company
Charity reglstered
number
1148849
Prlnclpal office
The Fresh Olive Co Ltd
74 Long Drive
Greenford
Middlesex
UB6 8LZ
Accountants
James Cowper Kreston
Chartered Accountants
Reading Bridge House
George Street
Reading
Berkshire
RG18LS
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BELAZU FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 APRIL 2024
The Trustees present their annual report together with the financial statements of Belazu Foundation (the
Charity) for the 12 month period ended 30 April 2024. 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 1400 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 Belazu Foundation has helped with supporting two schools in two villages in the Atlas Mountains around
Marrakesh, Aourir and Tidli. This programme was renewed in October 2023 for a further year for Auorir and two
years for Tidli al a cost of £21,000 for the initial year and £7,500 for the second year of Tidli. Across the two
schools the programme was delivered for 45 preschool children aged 4-6 years old and 65 mothers over the 12-
month period.
Main objectives..
The social development of the child
Basic learning
School dropout prevention
Awareness on the issues of preschooling for the benefit of the community
Zero absences were recorded for pre-school children al both schools. Girfs represent 530/0 (Tidlil and 690/.
IAurorirl of total enrollmenl. Environmental awareness sessions were integrated in the presch(iol programme
with two sessions delivered on the importance of water in human and animal life.
School Food Matters
School Food Matters campaigns for fresh, sustainable school meals and delivers food education programmes to
get 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. We have been working with Willow Tree since the beginning of the Fun and
Food Club.
Summer Fun and Food
The summer Fun and F(iod club took place at Willow Tree Primary School in August 2023. For this programme
we donated £12,000 and this resulted in 87 children aged 3-11 years attending the Fun and Food club for 10
days.
Each day was aclion-packed with a range of play-themed activities on offer, as well as food education sessions
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2024
led by SFM. This year, we welcomed Chantelle Nicholson and her restaurant team (Apricityl lo host an additional
cooking session with the children. 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 took place from 1 Oam lo
2pm each day, supported families in the Willow Tree community by offering both financial and emotional respite
in response to the ongoing cost of living crisis. However, it also ensured that children could have fun in a safe
and supportive environment. Belazu volunteers were a crucial part of this mission as they supported staff and
children through each day of the scheme.
1 OOQ/o of children had fun and said that they had enjoyed the programme and 88 /0 said that they had made new
friends {Ihis increased from 93 /0 and 81°/0 in 20231. 100 /0 of parents suNeyed said that they were 'salisfied' with
the programme. The programme supported families financially by providing access to a hot, nutritious meal each
day for free. 77 /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 len days, 572 meals were seryed lo children. Children
were very positive about the quality of food with 67 /0 describing il as 'fanlaslic' or 'really good,. Volunteers and
leaching staff were crucial lo sel a positive example lo the children during lunchtimes by promoting fruit and
vegetable uptake. Stsff commented on the improved ability of children to inleracl with their peers and develop
their social skills- We've been able to see children in their best form throughout the two weeks with many
learning, and putting into practi￿, valuable life skills.
A new house system was introduced to accommodate the higher number of younger children aged between 3-6
years old and those with SEN lapprox. 50 /0 per dayl. Teachers noted that il allowed children lo develop their soft
skills and build their Confiden￿ in social sellings= 'It's been a real highlight lo see the peer support develop
within the club, especially how the older children have looked after the younger ones throughout the weeks..
This year, children also gol the chance to make a scrapbook which documented the activities they'd been
involved in during their lime at the club. Teaching staff took photos of each child every day and these were
printed so that children had a memento to take home at the end of the programme. This proved popular with the
majority of the children.
The food education part of the programme proved particularly effective in improving children's relationship with
food. During the second week, the children had an exciting visit from Chantelle Nicholson and her entire
restaurant team. The team of 15 arrived lo host a cooking session which incorporated fresh produce from the
school garden (plants generously donated by Belazul. All of the children were involved in the haNest and
sourced a variety of different crops including blackberries, carrots, beetroot, lettuce, tomatoes, beans and
cabbages. The children were then invited to return to the school hall where they had the option of preparing
either blackberry pancakes, flatbreads with Belazu toppings or a fresh salad. The day was a great Suc￿sS with
many children citing it as their favourile activity out of the two-week programme. One young boy, who had
previously described his goal of becoming a chef, said that the experience was 'an honour and a privilege"
Chantelle was so inspired by the young chef that she is now in contact with Willow Tree lo organise work
experience for him in her restsurant.
Easter Fun and Food
The Easter Fun and Food club and The summer Fun and Food club look place al Vvillow Tree Primary School in
April 2024. We have been working with Willow Tree Sin￿ the beginning of the Fun and Food Club. This year,
due lo water supply issues, the programme only ran for two days. However, the programme, which look place
from 1 Oam to 2pm each day, still maintained its overarching goal of alleviating food insecurity for the Willow Tree
community by providing a hot, nulrilious lunch for the children each day. It also ensured that children could have
fun in a safe and supportive environment. Due to lime reslriclions, only one Belazu volunteer was able to allend,
however they provided support lo stsff and children throughout the day. In total we donated £4,900 and this
resulted in 37 children allending the Fun and Food club for 2 days.
The scheme supported children's leaming and nulrilion. The DHT for Inclusion slated that the motivation for the
scheme was based on. Acknowledging the link between good food and nutrition, as well as pupils will leave the
club with greater Confiden￿ in their abilities., attainment and emotional wellbeing. The programme supported
families financially by providing a¢￿$$ lo a hol, nutritious meal each day for free. 11 also alleviated parent stress
of caring for children over holidays= 'Knowing my child was well, safe and looked after and not having lo worry
about childcare., 100 /0 of parentslguardians surveyed said that they were 'salisfied' with the programme. 640/0
children said that they had enjoyed the programme.
Over the course of the three days. 57 meals were setved to children. 11 is important lo note that the first day of
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2024
the programme was Eid, which affected allendance. The DHT said that 60 students had signed up, however,
due lo Eid falling on the 1 Oth April, numbers were lower on both days. Children enjoyed having fresh fruit for
dessert on both days. The oranges were really juicy and nice..
Cooking sessions were delivered for children that wanted to participate. During the sessions, children made
rainbow rolls and were able lo touch, smell and try lols of fresh ingredients. These were made by combining
fresh produce such as peppers, spring onions, carrots, basil, and lelluce with tofu, mixing with a sweet and spicy
sauce and rolling in rice paper. The children enjoyed making their rolls colourful and loved the sensory element
of making the rice paper soft in warm water. One student enjoyed the session so much that she stayed for the
second session and taught her peers how lo make the rollsl One SEN student, who we were told by the DHT is a
very picky eater, engaged well in the session and touched and smell many of the ingredients and enjoyed rolling
up the soft, rice-paper wraps.
Fresh Enter
rise
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 look 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 national average and the
programme aims lo address this through developing the future talent of tomorrow. A total of £9,100 was donated
lo fund this project.
School participation..
Ellhorne Park High School
Belvue School
Whilefield School
Kingsley Academy
Vyners School
Hatch End High School
Domers Well High School
Fealherslone High School
Ealing
Ealing
Barnel
Hounslow
Hillingdon
Harrow
Ealing
Ealing
Full programme
Full programme
Full programme
Full programme
Mini programme
Mini programme
Mini programme
Mini programme
The 2024 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 to packing, all the way lo distribution and marketing. 47 students
and 9 teachers attended in person during the full programme. 90 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. 101 students
and 8 teachers attended.
A marketing workshop where students learned about creative ways lo design an eye-catching label for
their product and tslked about essential presentation skills. 125 students and 11 teachers allended.
A lasting panel, where the students who created the favourile products al the cooking session presented
their pastes lo a panel that included Belazu's NPD Manager and Procurement Director. All 8 schools
attended.
87°/o of students suryeyed had tasted a new food or flavour during the course of the project, and 740/0 of students
were more interested in cooking as a result of taking part in Fresh Enterprise. Over half152°/ol had learned a
new cooking skill. 65 /0 of students surveyed said they were more interested in selling things they'd made after
the programme, and 52Q/o were more interested in a career in foodl food growing.
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.
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2024
Activities organsied for the event included an inflatable obstacle course, crazy golf, garden games, face painting.
smoothie bikes and cupcake decorating. Belazu volunteers cooked pizzas for school children and their families,
who were able to select ingredients including fresh vegetables and Belazu ingredients. The event cost £5,235 10
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.
Four more schools benefilled from match funding and started the food transformation programme this year,
reaching 1,245 school children.
Kings Cross Academy
Frank Bames School for deaf children
Henry Cavendish Schools in Streatham and Balham
£20,000 was donated lo support these projects and £4,485 was brought forward from the previous year of
funding to total £24,485 to support the projects.
Case study= Henry Cavendish school in both Slrealham and Balham onboarded on the yearlong School by
School programme. Chef Nathan, got in touch with us after hearing about Chefs in Schools on the BBC Food
Programme. He was so inspired by what he heard. Nathan has now been employed as Executive Chef across
both sites, supporting both kitchen teams in their school food transformation. The school will be investing in new
kitchen equipment and our intensive training will begin in September, led by our Chef Trainer Andy.
Chefs in Schools surveyed school leaders and chefs from our partner schools to understand more about the
impact and effectiveness of our work since transitioning onto the programme..
88 10 reported they were either satisfied or very satisfied with the quality and choice of food (compared lo
24 10 Wlth their previous catering arrangement)
94 10 were either satisfied or very satisfied with the healthiness of food (compared to 24 /0 Wlth their
previous catering arrangement)
75°/o were either satisfied or very satisfied with the morale of the kitchen team Icompared to 35 /0 Wlth their
previous catering arrangement)
Almost thirds reported seeing an improvement in pupil concentration
Over 80.10 feel that pupils are now consuming more fruit & veg and are more likely lo try new foods
More than half reported developing their food education & involving their chefs in ils delivery
Flnanclal revlew
Since 2012 the Belazu Foundation has allocated over £636,000 lo educational projects in UK and around the
Mediterranean.
In 2023-2024 the Belazu Foundation raised £84,725 through 3Q/o 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 total, £76,061 was donated by Belazu Ingredients Company and £5,396 was
raised through internal fundraising.
During January, profits from website sales every Friday of the month were donated, lolaling £1,805. Through
selling Belazu products that have passed their best before dale or with wonky labels on Too Good To Go, £1,463
was raised from customer facing fundraising.
Reserve Pollcy
The policy on reserves will be monitored by the Trustees al regular meetings and reviewed on a regular basis.
The Trustees are of the opinion that the charity maintains adequate resetves lo cover future expenditure. In
instances where available funds are in deficit, this will be managed by reviewing the outgoing spend
commitments and seeking additional sources of funding in the next financial year.
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2024
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.
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 lo miligale our
exposure lo the major risks.
Future plans
In 2024-2025 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. Fun and Food Club will offer more structured aclivilies.
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. This will be the final year supporting Auorir school as the government
will lake il on as a stale funded school. We will look lo identify a new school lo support.
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.
Trustees. responsibilltles 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 tsking reasonable steps for the prevention and detection of fraud and
other irregularities.
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BELAZU FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 30 APRIL 2024
Approved by order of the members of the board of Trustees and signed on their behalf by..
David Balmer
Trustee - Fresh Olive Company
Dale..
14 March 2025
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BELAZU FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 APRIL 2024
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
2024.
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 2024
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
P,
Dated..
17 March 2025
James Cowper Kreston
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 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Other trading activities
76,061
8,664
76,061
8.664
51,928
9,502
Total income
84.725
84.725
61,430
Expendlture on:
Charitable activities
101.589
101,589
95,635
Total expenditure
101.589
101.589
95,635
Net movement in funds
(16,864)
116,864)
134,2051
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
8,462
(16.8641
8,462
(16.8641
42,667
134,2051
Total funds carried forward
18,4021
18,402)
8,462
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 19 fomi part of these financial statements.
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BELAZU FOUNDATION
BALANCE SHEET
AS AT 30 APRIL 2024
2024
2023
Note
Current assgts
Debtors
Cash at bank and in hand
27,082
5,997
5,773
5,773
33,079
Creditors.. amounts falling due within one
year
114,1751
124,617)
Net current liabilities l assets
18,402)
8,462
Total assgts less ¢urrgnt liabilities
18.4021
8,462
Total net assets
18.402)
8,462
Charity funds
Reslricled funds
Unreslricled funds
10
10
18.402)
8,462
Total funds
18,402)
8,462
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by=
D￿d&￿n￿r1dM￿￿2S16A3JSGmfDJwc4O)
David Balmer
Trustee- Fresh Olive Company
Dale..
14 March 2025
The notes on pages 13 to 19 fomi part of these financial statements.
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BELAZU FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
2024
2023
Note
Cash flows from opgrating activities
Nel cash used in operating activities
12
12241
134,9651
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
12241
5.997
34,9651
40,962
Cash and cash equlvalents at the end of the year
13
5,773
5,997
The notes on pages 13 to 19 fomi part of these financial statements
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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 2024
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
2024
Total
funds
2024
Total
funds
2023
Donations
76,061
76,061
51,928
Total 2023
51,928
51,928
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Other fundraising events
8,664
8,664
9,502
Total 2023
9,502
9,502
Analysls of grants
Grants to
Institutions
2024
Total
funds
2024
Total
funds
2023
Grants
67,718
67,718
63,951
Total 2023
63,951
63,951
The Charity has made the following material grants to institutions during the year=
2024
2023
Chefs in Schools
School Food Matters
Zakoura sponsorship
20.000
26,150
21,568
26,000
28,674
9,277
67,718
63,951
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Grant
funding of
activities
Support
costs
Total
funds
2024
Total
funds
2023
2024
2024
Expenditure
10,535
67,718
23,336
101,589
95,635
Total 2023
5,358
63,951
26,326
95,635
Analysls of dlrect costs
Total
funds
2024
Total
funds
2023
Actlvltles
2024
lffley fun day
Banquet
9,610
925
9,610
925
5,358
10,535
10,535
5,358
Total 2023
5,358
5,358
Analysls of support costs
Total
funds
2024
Total
funds
2023
Actlvltles
2024
Staff costs
19,880
1,440
2,016
19,880
22,977
1,389
1,960
Miscellaneous costs
Governance costs
2.016
23,336
23,336
26,326
Total 2023
26,326
26,326
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Independent examiner's remuneration
2024
2023
Fees payable lo the Charills independent examiner for the independent
examination of the Charitvs annual accounts
2.016
1,960
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12023 - £NILI.
During the year ended 30 April 2024, no Trustee expenses have been incurred12023 - £NILI.
Debtors
2024
2023
Due wlthln one year
Other debtors
27,082
Crgditors: Amounts falling dug Within ong year
2024
2023
Other creditors
12,159
2,016
22,697
1,920
Accruals and deferred income
14,175
24,617
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
10.
Statement offunds
Statement of funds - current year
Balance at
30 April
2024
Balance at 1
May 2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
8,462
84,725
1101,5891
18,4021
Statement of funds - prlor year
Balance al
1 May 2020
Balance at
Income Expenditure 30 April 2021
Unrestricted funds
General Funds - all funds
42,667
61,430
195,635)
8,462
11.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Current assets
5,773
114,1751
5,773
(14.1751
Creditors due within one year
Total
18,4021
18,402)
Analysis of ngt as$gt$ betwegn funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Current assets
33,079
124,6171
33,079
124,6171
Creditors due within one year
Total
8,462
8,462
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BELAZU FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
12.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Nel expenditure for the period las per Statement of Financial Acliviliesl
116.8641
134,2051
Adjustments for:
Decrease in debtors
Decrease in creditors
27,082
110.4421
1,293
12,0531
Net cash used In operatlng actlvltles
12241
134,9651
13.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
5.773
5,997
Total cash and cash equivalents
5,773
5,997
14.
Analysis of Changes in net debt
At1May
2023 Cash flows
At 30 Aprll
2024
Cash at bank and in hand
5,997
12241
5,773
5.997
12241
5.773
15. Related party transactions
During the period ending 30 April 2024, Belazu Foundation received donations of £76,061 12023..
£51,929) from The Fresh Olive Company Limited Iva Belazu Ingredient Company), a company in
which the Trustees are Directors. During the period ending 30 April 2024, Belazu Foundation received
donations of £nil lyear ending 30 April 2023.. £nill from Trustees of the Foundation. At the year end the
charity owed £14,93412023.. £nill lo Belazu Ingredient Company.
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