Charity number: 1170126 ITESO WELFARE ASSOCIATION (IWA) Trustees, Report and Financial Statements 31 March 2025. ITESO WELFARE ASSOCIATION (IWA) 1170126 Contents Legal and administrative information Trustees report Independent examiners, report Statement of financial activities Balance sheet Notes to the financial statements 8-10 ITESO WELFARE ASSOCIATION {IWA) CIO. Legal and Administrative Information. Charity number: 1170126 Registered office: Kemp House 152 City Road London ECIV 2NX Trustees: Frank Kedi Opolot Chairperson Beatrice Amaitum Osoro Vice chair Resigned Joseph Gary Eloket Secretary Herrick Ochom Treasurer Rose Imoit Oluka Trustee Resigned Alison WatSOf4 Echoku Trustee Accountant- Nuama & Co Ltd 102 Mitcham Lane London SW16 6NR Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ Board of Trustees Report to the Annual General Meeting. l. Introduction. This has been an extremely chaiiè'nging year for IWA. Despite the best intentions of the Board of Trustees, the charity was regrettably unable to deliver its planned activities or undertake any meaningful fundraising during the reporttng period. The Board recognizes that this will come as a disappointment to members, supporters, and benefi'ciaries. We recognise that the charity has not operated as well as it should have, and we think it's vital to openly share what happened, what we've learned, and what needs to improve going forward. The trustees remain committed to the objects of the charity and to supporting its recovery and future sustainability. 2. Overview of Activities {or lack thereof) Throughout the reporting period, the charity did not undertake any organized activities, events, or programs in support of its charitable objectives. In addition, no extra funding was obtained, and just a single grant application was submitted. Thi5 inactivity resulted from a combination of factors, including reduced trustee capacity, difficulty and internal coordination within the Bqard, and a general loss of momentum following changes in trustee composition and engagement levels. While no single individual is solely responsible for these outcomes, the Board accepts responsibility for the charity's failure to progres5. Governance and Accountability. The trustees acknowledge that the Board did not operate as efficiently as needed during the year, but they assure stakeholders that the charity has not faced any significant risks. Meetings were inconsistent, communication limited, and clear leadership and direction not maintained. As chair, I wish to state that l accept responsibility for shortcomings in leadership during this time. l acknowledge that I could and should have done more to restore cohesion, ensure accountability. and maintain focus on the charity's aims. While the circumstances were complex, stronger leadership and clearer action could have made a meaningful difference. The lack of income highlights the urgent need for a structured and realistic fundraising strategy if the charity is to remain viable. Whilst the year has been a difficult one, it also presents an opportunity for the stakeholders to make a fresh start. With renewed energy, improved structure, shared engagement and shared purpose, we believe the charity can rebuild and move forward positively. At the AGM, a preliminary fundraising strategy will be shared, which includes insights gained and suggestions to assist the new Board. ITESO WELFARE ASSOCIATION IIWAI Report of the Trustees for the year ended 31 March 202S Reserves policy The Trustees have reviewed the reserves policy and consider it prudenl to keep sufficient reserves, not invested in tangible assets and unrestricted, to enable il to meet its current liabilities as they fall due. This will be kept as a minimum cash reserve in the charily's accounts and will be reviewed annually. Risk management The Trustees have assessed the major risk to which the charity is exposed, in particular those relaling to the operations and finances of the Charity, and are satisfied Ihal systems are in place to mitigate its exposure to the major risk. statement of Trustses. responslbilities The Charities Act requires the Board of Trustees to preparé financial statements for each financial year which give a truè and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the board is required lo - Seled suitable accounting policies and then apply them consistently., make judgements and eslimales that are reasonable and prudent., prepare the financial statements on the 90ing Concern basis unless il is inappropriate to presume thal the charity will continue in business, stale whether applicable accounting standards and statements of recommended practice have been followed, subject lo any material departures disclosed and explained in the financial statements.. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and which are sufficient lo show and explain the Charil's transactions and enable Ihem lo ensure the financial statements comply with regulations made under the Charity's Act. 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 ire9ularilies. The Trustees are also responsible for Ihe Contents of the Trustees, report, and the responsibility of Ihe independent examiner in relation lo the Trustees, report is limited lo examining the report and ensuring that. on the face of the report, there are no inconsistencies wilh the figures disclosed In the financial statement. This report was approved by the Board of trustees on 09 Deceember 2025. Frank Kedi Opolol, Chairperson ITESO WELFARE ASSOCIATION (IWA) Independent Examiner's Report to the Trustees of the Charity for the year ended 31 March 2025 Independent Examiner's Statement, report and opinion Subject to the limitations upon the scope of my work as detailed above in connection with my examination, I can confirm that 1) In accordance with Regulation 31 of The Charities (Accounts and Reports) regulations 2008 (The Regulations) the accounts of this incorporated charity are not required to be audited under Part 16 of the Companies Act 2006,. this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection15)(b) of that section which are applicable., and that, no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements.. il to keep accounting records in accordanc8 with section 386 of the Companies Act 2006.. ii) to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Compnies Act 2006 and,. iii) that the financial statements be prepared in accordan￿ with the methods and principles set out in the Statement of Recommended practice - Accounting and Reporting by Charities have not been met., or 2) to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached. Yaw Nuama Nuama & Co Ltd Chartered Certified Accountants 102 Mitcham Lane London SW16 6NR ITESO WELFARE ASSOCIATION {IWA) Statement of financial activities For the year ended 31 March 2025 2025 2024 Income Voluntary income 754 1,962 Total incoming resources 754 1,962 Resources expended Charitable expenditure 1,287 3,264 Accountancy fees 450 450 Bank charges 55 55 Depreciation and impairment Total resources expended 39 1,792 3,808 Net incoming resources before transfers 1,037 1,849 Total funds brought forward 1,109 2,955 Total funds carried forward 72 1,106 The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. ITESO WELFARE ASSOCIATION (IWA) Registered number: 1170126 Balance Sheet as at 31 March 2025 Notes 2025 2024 Current assets Cash at bank and in hand 175 1,509 Creditors: amounts falling due within one year (400) (400) 72 1,109 Total assets less current liabilities 72 1,109 Net assets 72 1,109 Capitsl and reserve8 Profit bl￿d 1,109 2,955 Profit and loss account (1,037) (1,846) Sharéholder8' funds 72 1,109 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. The financial ststements were approved by the trustee8 on 09 December 2025 signed on its behalf by: Mr Frank Kedi Opolot Chairperson ITESO WELFARE ASSOCIATION IIWA) Notes to the financial statements for the year anded 31 March 2025 1 Accounting policles The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1 Basls of preparation The financial statements of the charity, which is a public benefit entity under FRS 102, have be&n prepared in accordance with the Charities, SORP IFRS 1021 'Accounling and Reporting by Charties.. Slalement of Recommended practice, applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 102) effective 1 January 2015, and the Charities Acts 2011. The financial statement have been prepared under the historical cost convention. 1.2 Cashflow The charity has taken advanla9e of the èxemplion in FRS1 from the requiremenlnot to produce a cashflow statement b&cause il is a small charity, 1.3 Income All incomes are included in the statèment of financial activities when the charity is entitlèd lo the income and the amount can be quantified with reasonable accuracy. The following specfic policies are applied lo particular categories of income, Voluntary income is received by way of grants, donations and gifts and is Included in full In the slalement of financial activities when receivable. Grants whère entitlement is not conditional on the the delivery of a specific performance by the chaty, are recognised when the charity becomes uncondilionally entitled lo the grant. Donated services and facilities are included at the value to the charity where this ¢an be quantified. The value of seNic68 provided by volunteer$ has not been included. Gifts donated for resale are included as incoming resources within aclivilies for generating funds when they are sold. 1.4 Expondlture Expendiure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expènditure to which il relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It Includes both costs that can be alloGaled directly to such activities and those costs of an indirect nature necessary to support them. 1.6 Tanlble fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows". Fixtures, fittings and equipment over 5 years ITESO WELFARE ASSOCIATION (IWA) Notes to the financial statements for the year ended 31 March 2025 2 Income Unrestricted funds 2025 Totsl 2024 Total Donations from members Interest receivable Membership fee 602 602 1414 3.00 545 150 150 At 31 March 2025 754 754 1,962 3 Tangible fixed assets Plant and machinery etc Totsl At 1 April 2024 At 31 March 2025 213 213 213 213 Depreciation Al 1 April 2024 213 213 At 31 March 2025 213 213 Net book value At 31 March 2025 At 1 March 2024 4 Creditors: amounts falllng due within one year At 1 April 2024 2025 2024 Accruals Olher creditors 400 400 400 400 Incoming resources Outgoing Resources 5 Unrestricted funds At 0110412024 At 3110312025 General funds 1.109 754 72 ITESO WELFARE ASSOCIATION {IWAI Detailed ststement of financial activities For the year ended 31 March 2025 This schedule does not fom7 part ofthe st8tulory accounts 2025 2024 Incoming resources Incoming resources from generatlng funds. Donations from members 602 1.414 Interest retsivable Other Inttjme resources 150 545 Total incoming resourcos from generating tunds 754 1.962 Total incoming rgsourcès 754 1,962 Resources expended Costs of generatlng voluntary Income Voluntary SLtpport 398 1,364 398 1,364 Admlnlstratlve expenses Social gathering costs Travel and activities 216 1,458 Premises costs Running costs Depreciation Accounlan¢y fees 268 100 459 397 39 450 450 Other legal and professional 1,393 2,444 Total cost of gon•ratlng voluntary Incom 1.791 3,808 Nel incominglloulgoingi resources for the year 1.037 1,846