REGISTERED CHARITY NUMBER: 1167939
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
BBPI Foundation (CIO)
BBPI Foundation (CIO)
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
BBPI Foundation (CIO)
Reference and Administrative Details
for the Year Ended 31 March 2023
TRUSTEES
Mr Abdal Ullah Trustee Ms Ayesha Qureshi Trustee Mr Mohammed A Nazim Rahman
PRINCIPAL ADDRESS
Flat 18 Doughty Road Pursom Street London E1W 3RT
REGISTERED CHARITY 1167939 NUMBER
Page 1
BBPI Foundation (CIO)
Report of the Trustees
for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principle objectives is to promote the education of people under the age of 25 years from the British Bangladeshi Community of the United Kingdom who are socially or economically disadvantaged in such ways as the charity trustees think fit, in particular but not exclusively by awarding grants to such persons to further their education, training, social or vocational skills.
FINANCIAL REVIEW Funds in deficit
The charity received donations and income totalling £11,750 (2022: £5,840). After payments of outgoing expenses totalling £15,508 (2022: £2,230), the charity was left with a deficit of £3,758 (2022: Surplus £3.610) for the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Approved by order of the board of trustees on 5 October 2023 and signed on its behalf by:
Ms Ayesha Qureshi - Trustee
Page 2
BBPI Foundation (CIO)
Statement of Financial Activities
| for the Year Ended 31 March 2023 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 11,750 EXPENDITURE ON Raising funds 2 240 Other 15,268 Total 15,508 NET INCOME/(EXPENDITURE) (3,758) RECONCILIATION OF FUNDS Total funds brought forward 24,484 TOTAL FUNDS CARRIED FORWARD 20,726 |
31.3.22 Total funds £ 5,840 360 1,870 2,230 3,610 20,874 24,484 |
|---|---|
The notes form part of these financial statements
Page 3
BBPI Foundation (CIO)
Balance Sheet
| 31 March 2023 31.3.23 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 21,086 CREDITORS Amounts falling due within one year 5 (360) NET CURRENT ASSETS 20,726 TOTAL ASSETS LESS CURRENT LIABILITIES 20,726 NET ASSETS 20,726 FUNDS 6 Unrestricted funds 20,726 TOTAL FUNDS 20,726 |
31.3.22 Total funds £ 24,844 (360) 24,484 24,484 24,484 24,484 24,484 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 October 2023 and were signed on its behalf by:
Ms Ayesha Qureshi - Trustee
The notes form part of these financial statements
Page 4
BBPI Foundation (CIO)
Notes to the Financial Statements
for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 5
continued...
BBPI Foundation (CIO)
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
2. RAISING FUNDS
| Raising donations and legacies | ||
|---|---|---|
| 31.3.23 | 31.3.22 |
|
| £ | £ | |
| Support costs | 240 | 360 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 5,840 |
| EXPENDITURE ON | |
| Raising funds | 360 |
| Other | 1,870 |
| Total | 2,230 |
| NET INCOME | 3,610 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 20,874 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 24,484 |
Page 6
continued...
BBPI Foundation (CIO)
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| £ | £ | |||
| Other creditors | 360 | 360 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.22 | in funds | 31.3.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 24,484 | (3,758) | 20,726 | |
| TOTAL FUNDS | 24,484 | (3,758) | 20,726 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,750 | (15,508) | (3,758) | |
| TOTAL FUNDS | 11,750 | (15,508) | (3,758) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.4.21 | in funds | 31.3.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 20,874 | 3,610 | 24,484 | |
| TOTAL FUNDS | 20,874 | 3,610 | 24,484 |
Page 7
continued...
BBPI Foundation (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,840 | (2,230) | 3,610 |
| TOTAL FUNDS | 5,840 | (2,230) | 3,610 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.21 in funds £ £ 20,874 (148) 20,874 (148) |
At 31.3.23 £ 20,726 |
|---|---|---|
| 20,726 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 17,590 (17,738) (148) 17,590 (17,738) (148) |
|---|---|
Page 8
continued...
BBPI Foundation (CIO)
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 9
BBPI Foundation (CIO)
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 11,750 | 5,840 |
| Total incoming resources | 11,750 | 5,840 |
| EXPENDITURE | ||
| Other | ||
| Project cost | 15,268 | 1,870 |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 240 | 360 |
| Total resources expended | 15,508 | 2,230 |
| Net (expenditure)/income | (3,758) | 3,610 |
This page does not form part of the statutory financial statements
Page 10