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Acorn 2 Oak report of the trustees for the year ended 31[st] December 2023
Report of the trustees for the year ended 31[st] December 2023
The trustees present their annual report and financial statements of the charity for the year ended 31[st] December 2023. The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities .
Objectives and Activities
The main objective of the organisation is to build community cohesion and empower children and young people by developing workshops and educational programmes that enable them and their families to challenge discrimination and oppression through creativity and non-violent activities in North London. To provide them with access to a range of learning opportunities to promote their spiritual moral cultural mental and social development through various projects like creative art and writing, poetry and performing arts, sewing, cooking and drama.
We were not active in the year 2023 due to unforeseen circumstances and unavailability of volunteers.
Objective and Activities
Our main aim of enabling members to express their artistic creativity by providing them with an environment to learn, create and exhibit their art pieces was not carried out this year due to not having any workshops
Achievements and Performance
There were no achievements this year due to not having any workshops
Financial Review
The charity’s work is reliant on grants from various organisations and individual donations.
Reserves Policy
The charity has considered the reserves required and have taken into account their current and future liabilities. The trustees have reviewed the circumstances of Acorn 2 Oak and consider that the adequate resources continue to be available to fund the activities of the charity for the foreseeable future.
Plans for the Future
The core of the trustees’ approach is promoting activities beneficial to the children of the community. Acorn 2 Oak plans for the future are to expand the workshops and continued growth..
Structure, Governance and Management
Acorn2Oaks is an unincorporated community association with a management committee (trustees) of 3 members, Jermaine E. A. Igor, Adebimpe Adekunbi and Nicole Seitze. We have a constitution and hope to increase the number of trustees to five in the near future.
Key management and personnel
The trustees consider the board of trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year.
No remuneration has been paid to the Chief Executive Officer for this period. Reference and administrative details
Trustees
Dewald Koch (resigned) Isata Abdulai (resigned) Janet Kihiko (resigned) Adeyemisi Haastrup (resigned) Adebimpe Adekunbi (elected 3[rd] Jan 2010) Nicole Seitze (elected 12[th] Jan 2014) Jermaine E. A. Igor (elected 10[th] Jan 2015)
Chief Executive Officer
Adeyemisi Haastrup
Principal Office
2 Ormerod Avenue, St. Leonards on Sea, TN38 9LN
Risk Management
The trustees have a risk management strategy which comprises:
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an annual review of the principal risks and uncertainties that the charity face;
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the establishment of policies, systems and procedures to mitigate those risks identified;
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the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise
This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due.
Trustees’ responsibilities in relation to the financial statements
The charity trustees of Acorn 2 Oak are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and regulations.
In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to
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any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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Acorn 2 Oak Accounts for the year ended 31[st] December 2023
Balance brought forward £290.42
| Dates | Details | Expenditure | Income | Balance |
|---|---|---|---|---|
| Jan. | DD Bank Charges | 5.00 | 0.00 | 290.42 |
| Feb. | DD Bank Charges | 5.00 | 0.00 | 285.42 |
| March | DD Bank Charges | 5.00 | 0.00 | 280.42 |
| April | DD Bank Charges | 5.00 | 0.00 | 275.42 |
| May | DD Bank Charges | 5.00 | 0.00 | 270.42 |
| June | DD Bank Charges | 5.00 | 0.00 | 265.42 |
| July | DD Bank Charges | 5.00 | 0.00 | 260.42 |
| August | DD Bank Charges | 5.00 | 0.00 | 255.42 |
| Sept | 0.00 | 0.00 | 255.42 | |
| Oct. | 0.00 | 0.00 | 255.42 | |
| Nov | 0.00 | 0.00 | 255.42 | |
| Dec. | 0.00 | 0.00 | 255.42 |
Balance brought forward from 2022 £295.42 Expenditure in 2023 £40.00 Balance carried forward to 2024 £255.42
Account prepared by A. Haastrup