# **Trustees’ Annual Report for the period of** # **1 April 2023 - 31 March 2024** ## **Charity name: Ihezie Foundation** Charity registration number: 1160562 **Reference and Administrative details** **Charity name** Ihezie Foundation **Other name the charity uses** Ihezie Foundation-Book Relief **Registered charity number** 1160562 **Charity’s principal address** Ihezie Foundation 33 Burners Lane Kiln Farm Milton Keynes MK11 3HA United Kingdom ## **Names of the charity trustees** No trustees resigned or were appointed within the financial year. - **Amrit Rana -** Trustee - **Aloysius Ihezie -** Founding Trustee - **James Phipson -** Trustee - **Jaimin Chandarana -** Trustee - **Craig Ihezie -** Trustee **Chief Executive** Michael Bloedorn **Independent** Garcha & Co **Examiner** 79A South Road Southall UB1 1SQ **Bank** Barclays Bank, Wembley & Park Royal 2 Trustees’ Annual Report for the period of 1 April 2023 - 31 March 2024 **Objectives and Activities** ## **Summary of the purposes of the charity as set out in its governing document** Ihezie Foundation is a UK charity dedicated to advancing literacy and educational opportunities for students in the UK and Africa. Through donating the books schools desperately need, the foundation strives to empower schools, promote reading, and provide educational resources to underserved communities. With a strong commitment to making a positive impact, the Ihezie Foundation is changing lives one book at a time. ## **Summary of the main activities in relation to those purposes for the public benefit** In any country or community, one of humankind’s greatest gifts to the next generation is to provide the means whereby students can receive a good education. Helping to achieve that amazing objective are books that inspire students to learn, to gain a skill or just to enjoy. Helping to make that dream come true is the mission of Ihezie Foundation. The trustees are satisfied that Ihezie Foundation has passed the **public benefit test** in relation to furthering the charity’s objectives by delivering the following activities. ## **UK Projects** Ihezie Foundation is committed to advancing literacy and educational opportunities with our book donation programs. Our work has had a significant impact across Greater London, Buckinghamshire, and the surrounding counties neighboring London, by supporting local schools and promoting a love for reading among students. Ihezie Foundation works to provide much needed literacy and children’s books to primary schools in the UK. Our vision is for each recipient school to have pride in their school library and sufficient books to foster a culture of literacy and inspire young minds. ## **Projects in Africa** Ihezie Foundation provides educational aid and assistance through the donation of educational books and textbooks to schools, universities and libraries throughout Africa. Our work is inspired by the power of education to change lives. We believe that a sound education will provide students with the best possible start in life and in turn play a vital role in enabling them to develop the knowledge, skills and confidence to identify and maximise social, medical and economic opportunities, empowering them individually and as a nation. ## **Contribution of volunteers** Ihezie Foundation and the Buckinghamshire Healthcare NHS Trust have worked together collaboratively for over 6 years, to provide unique opportunities for local people who are rehabilitating from head and brain injuries. This long and meaningful partnership has had a life changing impact on the many volunteers who have joined the programme. Supporting this programme by offering work placements for volunteers has been very rewarding for Ihezie Foundation and the individuals taking part. The volunteers play an important role in helping Ihezie Foundation to sort and categorize the thousands of books that are donated to the charity. There have been many positive outcomes from the work the volunteers carry out whilst working for us, including; new friendships, new jobs, renewed confidence, enhanced wellbeing and more book donations to schools. The positive impact that has resulted from this programme is immense, not only have the participants benefited, but the work they have done has helped Ihezie Foundation process more books and be in a position to donate many thousands of books to schools. 3 Trustees’ Annual Report for the period of 1 April 2023 - 31 March 2024 ## **Achievements and Performance** ## **Below is a summary of the Foundations’ achievements. The Foundation’s work has had a significant impact on the lives of its beneficiaries, as well as wide-ranging benefits for society as a whole.** ## **Our work in the UK** This fiscal year has been difficult for so many charities, Ihezie Foundation included. The ongoing financial downturn has affected the charity, with spiraling costs putting pressure on our ability to carry out our charitable work. Alongside this, the corporate donors to the charity have had to operate under the current tough economic conditions, and this has affected Ihezie Foundation’s book donations this year. With a much scaled down operation, Ihezie Foundation has continued to provide reading books to UK primary schools, enabling teaching staff to support their students and run school literacy programmes. Ihezie Foundation continued its “Every London Child a Reader” programme by donating 24,000 books to support primary schools in the Capital. In Ealing London; St. Raphael's Catholic Primary School, Downe Manor Primary School, Edward Betham Church of England Primary School and Willow Tree Primary School, received a donation of 8,000 books. Ihezie Foundation followed this by donating 8,000 books to Larkrise Primary School, Our Lady Immaculate Catholic Primary School, Kings Road Primary School and Parkwood Academy. Our book donation initiative continued with another 6,000 books donated to Greenwood Primary School, Our Lady of Visitation Catholic Primary School and Edward Betham. In addition, Ihezie Foundation donated 2,000 children’s literacy books to Raynsford Church of England Academy. By providing schools with access to quality children's books, we are nurturing a love for reading, expanding young minds, and creating a brighter future for our students. 4 Trustees’ Annual Report for the period of 1 April 2023 - 31 March 2024 ## **Our work in Africa** Since its inception, Ihezie Foundation has donated over 1.5 million books to schools in the UK and Africa. Following on from the very successful textbook donation of 80,000 books which were shipped and distributed in partnership with Obioma Central School Education Foundation (OCSEF) and Prince Ike Chioke, almost half a million students in Enugu State Nigeria gained access to the textbooks and educational books they needed. Ihezie Foundation has completed textbook consignments of close to 2 million books prepared and ready for donation and shipment to millions of students in Abia and Enugu State in Nigeria. We have continued to make great progress on building partnerships with key stakeholders within the State Ministries of Education in both Abia and Enugu State, to help us undertake the clearing, sorting and distribution of the books to all the schools, universities and libraries in the recipient states. We have also received a letter of request for 240,000 donated textbooks from the Ministry of Education of Bayelsa State, Nigeria and partnership discussions are underway. There is no doubt that our work reaches millions of children who otherwise would struggle to get access to books. Books remain our best opportunity to give children a proper education and the chance to succeed in life. 5 Trustees’ Annual Report for the period of 1 April 2023 - 31 March 2024 **Structure, Governance and Management** |**Type of governing document**|**Constitution of a Charitable Incorporated Organisation**| |---|---| |**UK Charity Number**|**1160562**| |**Trustee selection methods and**|The Board of Trustees is entitled to nominate any additional| |**induction, training and**|number of trustees.| |**support.**|| ||Trustees can be elected during a scheduled board meeting by a| ||majority vote of trustees with minutes taken of the decision.| ||Trustees are inducted by the Chair of Trustees and the Chief| ||Executive.| ## **The charity’s organisational structure** Ihezie Foundation is not affiliated to other charities and is an independent charity. In countries outside of the UK, we partner with local ministries of education and universities. ## **Relationships with any related parties** Choice Textile Limited remains a committed donor to the charity. Conflicts of interest arising from any future changes to this relationship would be managed within the charity’s conflicts of interest policy. There is no material or financial benefit to Choice Textile relationship with Ihezie Foundation, which is purely philanthropic (therefore Ihezie Foundation benefits enormously from the relationship). ## **Declarations** ## **The trustees declare that they have approved the trustees’ report above.** ## **Signed on behalf of the charity’s trustees** ## **Signature(s)** |**Full name(s)**|Aloysius Ihezie| |---|---| |**Position**|Founding Trustee| |**Date**|30.01.2025| Trustees’ Annual Report for the period of 1 April 2023 - 31 March 2024 6 IHEZIE FOUNDATION CHARITY REGISTRATION NUMBER 1160562 33 BURNERS LANE KILN FARM MILTON KEYNES MKII 3HA ACCOUNTS FOR THE YEAR FROM 31ST MARCH 2024 GARCHA & CO CHARTERED CERTIFIED ACCOUNTANTS HEASLEIGH HOUSE 79A SOUTH ROAD SOUTHALL MIDDLESEX UBI ISQ TEL: 020 8843 1816/9010 FAX: 020 8813 8249 IHEZIE FOUNDATION CHARITY REGISTRATION NtJMBER 1160562 FIANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 CONTEFrrs PAGE Independent Examiner, s report statement of f inancial activites Balance sheet Notes to the financial statements IHEZIE FOUNDATION CHARITY REGISTRATION IfjUMBER 1160562 CCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 INDEpENDE￿r EXAMINER'S REPORT TO THE TRUSTEES OF IHEZIE FOUNDATION report to the trustees on my examination of the accounts of the above charity (the trust) for the year ended 31st March 2024 Res onsibilities and basis of re ort As the charity, s trustees, you are responsible f or the preparation of the accounts in accordance with the requirement 0£ the Charities Act 2011 (the Act). report in respect of rny 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 Direction8 given by the Charity Colnmission under section 145 (5) (b) of the ct. Inde endent examiner, s statement I have cornpleted my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accountlng 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 he 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 falr vlew whlch Is not a matter considered a8 part of an independent examination. have no concerns and have come across no other rnatters in connection with the examiation to which attention should be drawn in order to enable a proper understanding of the account8 to be reached. Mr. S.S. Garcha Carcha & Co Chartered Certif led Accountants & Senior Statutory Auditor Heasleigh House 79a South Road Southall, Middlesex, UBI ISQ Date: 24 oi 2025 IHEZ IE FOTJNDATION CHARITY REGISTPATION NUMBER 1160562 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 NOTES TOTAL TOTAL RESTRICTED UNRESTRITED 2024 2023 INCOME AND EXPENDITURE INCOMING RESOURCES Donations other incorne 35,000 35,000 11,750 JRS TOTAL INCOMING RESOURCES 35,000 35,000 11,750 RESOURCES EXPENDED Direct expendi ture Fundraising and publicity Management and administration of the charity 1,263 740 1,263 740 8,027 854 8,060 8,060 7,823 TOTAL RESOURCES EXPENDED 10,063 10,063 16,704 NET INCOMING (OUTGOING) RESOURCES FOR THE yE￿R 24,937 24,937 (4,954) Balance brought forward at l April 2023 67,260 72,214 BALANCE CARRIED FORWARD AT 31 March 2024 92,197 67,260 All of the above results are derived frorn contlnulng activities. All gains and losses recognised in the year are included above. IHEZIE FOUNDATION CHARITY REGISTRATION NtJMBER 1160562 BALANCE SHEET AS AT 31ST MARCH 2024 2024 2023 CURRENT ASSETS Cash at bank 93.391 67,145 93,391 67,145 LIABILITIES . Amounts falling due within one year 1.194 {115) NET CURRENT ASSETS 92,197 67,260 NET ASSETS 92,197 67,260 FUNDS Unrestricted f unds Restricted funds 92,197 67,260 92,197 67,260 These account8 were approved by the Board of Trustees and signed on their behalf by CHAIRMAN DATED: 24/01 2025 IHEZIE FOUNDATION CHARITY REGISTRATION NUMBER 1160562 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES These accounts have been prepared in accordance with the Charities Act 2011, Charity SORP FRS102 The accounts have been prepared under the historical cost basis. Income Income is included gross, without netting off any related expenditure. Income is generally recognised when the charity becorne8 entitled to the resources, when receipt is probable and when the monetary amount can be measured with sufficent reliabilty. Specific policies relating to the charity, 8 particular incotne sources are as follows: Donations are included in the Statement of Financial Activities ISOFA) gross of any related tax reclaim. Ex editure Liabilities are included once the charity Is under a legal or constructive obligation to transf er economic resoures . Costs of charitable activities include those co8t8 directly attributable to activities undertaken In pursuit of the charlty, objects. other expenditure Includes governance costs which include all costs relating to complying with legal and regulatory requirments. Funds structure Unrestricted funds are those funds expendable at the discretlon of the Trustees in accordance wlth the charitable objects. Restricted funds nRy only be utilised in accordance with the wishes of the donor. Taxat ion As a registered charity, it is generally exempt from income tax and capital gains tax on its charitable activities, but not from VAT. Irrecoverable VAT is Included in the cost 0£ those items to which it relates. Trustees, emoluments None of the trustee8 have received any remuneration, expenses or benefits from the charity. Related art transactions There have been no related party transaction8 in the reporting period that require disclosure. IHEZIE FOUNDATION CEIARITY REGISTPATION NUMBER 1160562 NOTES TO THE ACCOUNTS FOR TIIE YEAR ENDED 31ST MARCH 2024 DONATIONS AND GIFTS 2024 2023 Donations 35,000 11,750 35,000 11,750 RESOURCES EXPENDED RESTRICTED UNRESTRICTED TQTAL Fu￿IDs FUNDS 2024 TOTAL 2023 Direct charitable ex Educational expense8 Donations Water rates and business tax Insurance Light and heat Repairs and maintenance Freight charges Transport and travelling enditure 23 118 23 118 262 2,175 1,791 1,145 1,145 3,799 1,263 1,263 8,027 Fundraisin Advertlsing and ubLlcit 740 740 854 740 740 854 Mana ement and Adminlstratlon of the Charit Wages Pension Telephone and pos tage Prof essional f ees Legal f ees Bank charges and overdraft interest 7,000 7,000 7,006 23 960 960 504 77 77 290 8,060 8,060 7,823 IHEZIE FOUNDATION CHARITY REGISTRATION NUMBER 116 0562 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 EMPLOYEE INFORMATION 2024 2023 staf f costs: Wages and salaries other pension costs 7,000 23 7, 006 23 7,023 7,029 The average weekly number of employees during the year was made up as follows: No. No. Employee3 CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors other taxes and 30cial security costs other creditors Accruals (120) 354 (1,079) 960 960 1,194 (115) MOVEMENT IN FUNDS 2024 Balance as at 1st April 2023 Unre3tricted f unds Incoming Resources Resources Expended 67,260 35,000 (10,063) At 31st March 2024 92,197 Restricted f unds TOTAL FUNDS 92,197