Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of Kingsmen Foundation On accounts for the year Charity no 1171918 ended (if any) Set out on pages (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 05 / 2021
- Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Date: 07/04/2022 Signed: Name: DESMOND BLANKSON Relevant professional ACCA qualification(s) or body (if any): Address: 30 TADBURN GREEN CHATHAM, KENT ME5 8PS
October 2018
1
IER
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
October 2018
2
IER
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2021
31[ST] MAY 2021
COMPANY LIMITED BY GUARANTEE: 8545937 REGISTERED CHARITY NUMBER: 1171918
KingsGen Foundation
LEGAL & ADMINISTRATIVE INFORMATION
For the year ended 31 May 2021
ADDRESS 9 Clive Avenue Dartford DA1 3LD Telephone 07735480007 kingsgenfoundation@gmail,com admin@kingsgen.co.uk STATUS Registered Charity No. 1171918 Governing Document TRUSTEES Pastor Bayo Rufai Mrs Folake Verissimo Mrs Sola Goriola Rev Nick Nunayon Mrs Bosede Babalola Management Committee Rev Nick Nunayon Chief Executive Officer Mrs Sola Goriola Director of Academic Development and Research Mrs Bosede Babalola Director of Finance and Fundraising Mrs Folakemi Verissimo Director of Outreach, Access and Administration Mrs Oluyemi Nunayon Director of Events and Hospitality Vacant Director of Career and Mentoring Vacant Director of Independent and Higher Education Board of Advisers Rev (Dr) Hugh Osgood Registered Office 9 Clive Avenue Dartford DA1 3LD
Page 1
Kingsgen Foundation
For the year ended 31 May 2021
The trustees have pleasure in presenting the report and accounts of the charity for the year ended 31 May 2021
Kingsgen Foundation is a registered educational and parenting charitable organisation working in association with different communities, religious organisations, charitable organisations and individuals with the vision of raising, developing and empowering our future leaders, helping them to achieve high academic excellence, becoming significant and making impact as New Generational Transformation Leaders.
AIM & OBJECTIVES
Our aim is to ensure that children and young adults, especially those from disadvantaged backgrounds, have every opportunity to fulfil their full potential, raise aspiration, broaden their horizons, and become leaders in their fields, active, prosperous and successful citizens of the world around them.
Objectives to parents
To educate and enlighten parents about UK Educational system
To continuously provide information that affects children’s education in UK
To equip and empower parents with necessary resources that will help them make informed decisions about their children’s educational needs at all levels
Help parents and children to be steps ahead in their educational pursuant
Objectives to Children and Young Adults
Our overall mission is to help each child discover his or her purpose, release his/her potentials, nurture their latent abilities to To encourage, motivate and challenge become not only productive fulfilled citizens, but to be pace-setters in all areas of life. students to maximise their full potential and to achieve the highest level of academic distinction and excellence.
Raise their aspirations early
Help to prepare and develop their full potentials mentally, academically, financially and spiritually
Encourage them to participate in extra curriculum activities and programs that will enhance their entry into best performing schools up to university levels and becoming better citizens Providing them with supplementary academic education
Providing them with money management training and skills Providing them with coaching and mentoring activities Encourage them to question, to think and to work independently Provide them with best resources that will empower them for academic excellence and fulfilment
Visit the World acclaimed universities and make sure they have excellent knowledge of
Support students through each stage of the application process Help to seek for scholarships and bursaries for all our students
Trustees Report
Help to prepare them fully for life after schools
Encourage them to be the best in whatever they chose as a career Provide spiritual support to all pupils
International Mission
We aim to build and establish community based schools in rural town and villages of developing countries such as Nigeria, Kenya, Ghana, Republic of Benin, Togo, and others.
Help students to secure scholarship into international universities. Encouraging UK private and state schools to support and partner with the rural community schools
Risk Management
The trustes have a duty to identify and review the risks to which ths charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and errors.
The Board has a formal, written policy of internal financial control procedures which will continue to be monitored and updated to cover new risk areas
as and when they are identified.
FINANCIAL REVIEW
The organisation saw its income in the year as £33605 and expenditure was £27985 Cash balances ended the year at 27366
Part of the cash balance consist of differed income of £ 15176
The restricted income consists of :
International schools project support and visits to the schools £4340
This has not been possible due the COVID 19 Pandemic
£836 was part of donation towards alleviate digital poverty project which has to be used in the next financial year.
Our grant for Award4All has £10000 for next financial year.
TRUSTEE RESPONSIBILITIES
The trustees present their report together with the financial statements of
Kingsgen Foundation for the year ended 31 May 2021.
This report has been prepared in accordance with Part 8 of the Charities Act 2011.
The financial statements have been prepared in accordance with the accounting policies set out on pages 1 to 7 of the attached financial statements and comply with the
Unit’s constitution, the law and the requirements 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).
Trustee Report CONFERENCES AND EVENTS Our conferences and events were virtual throughout the year Our Debating and Mentoring continue virtually througout the year and we had increase of 30% as students were able to join from other parts of country We had our parenting conference with 75 people in attendance Parents are now able to join our conference from other parts of the nation International Mission We were able to provide uniforms for 21 students in Christ Model School Agbojetho. We also sponsored 3 students to low cost private school in rural village of Badagry. We are hoping to Start our mentoring program known as From Classroom to Boardroom for young people ages 13-18 during next year financial year. We will seek funding to restart our academic and study support in Maths, English and Science. We will do more STEM programs with our young people to expose them and encourage them to consider STEM careers During the next financial year we do more to support children, young people and their parents mental health wellbeing. We will also organise digital skills training and workshops for young people and their parents APPROVAL This report was approved by the trustees on 7th April 2022 and signed on their behalf by= Mr.8 o David Rufai Chairman Trustees Board
KINGSGEN FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST MAY 2021
Income Notes
| Restricted | Unrestricted | Total | ||
|---|---|---|---|---|
| Donation | 2 | 7811 | 15794 | 23605 |
| Grants | 2 | 10000 | 0 | 10000 |
| Total Operating Income | 17811 | 15794 | 33605 | |
| Expenditure | ||||
| Total Expenditure | 3 | 16483 | 11502 | 27985 |
| Net Operating Income | 1328 | 4292 | 5620 |
All amount relates to continuing activities. There is no recognised gains and losses other than those dealt with in the above statement of Financial Activities
The notes on pages form part of these financial statements.
Kingsgen Foundation Balance Sheet AS AT 31 MAY 2021 Notes 2021 2020 Fixed Asset 3693 Current Assets 28849 25293 32542 5176 25293 9446 15847 Creditors Amounts due within one year Net Current Assets 27366 Creditors Amount falling due after one year Total net assetslLiabilitiesl 27366 15847 Unrestricted Restricted 11962 15404 1811 14036 Total 27366 15847 The notes on page 6-7 form part of these accounts For the year ending 31st May 2021 the company was entitled to exemption from audit under The members have not required the company lo obtain an audit in accordance with section 476 of the company Act 2006 session 477121 of the Companies Act 2006 The directors acknowledge their responsibilities for.. ilensuring the company keeps accounting records which comply with section 386 iilpreparing account5 which give a true and fair view of the state of affairs of the company as at the of the financial year, and of it5 profit or loss for the financial year, in accordance with the requirements of section 393 and which otherwise comply with the requrements of the companies Act relating to accounts, so far as is applicable to the company. The financial statements was approved by the Board on 7th April 2022 Mr. Bayo id Rufai Chairman Trustee
Kingsgen Foundation
Notes to the accounts
for the year ended 31 May 2021
1 Accounting Policies
-
a) The accounts have been prepared in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice: Accounting
-
b) by Charities (SORP) 2000. Voluntary income is received by way of donations
-
and gifts and is included in full in the Statement of Financial Activities when received. Provision is made for tax unclaimed at the year end.
-
c) Resources expended are recorded in the period in which they are incurred and include attributable VAT which cannot be recovered.
-
d) Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets certain criteria is identified to the relevant fund.
-
Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.
-
e) Fixed assets used by the charity in fulfilling its charitable objects and are capitalised and depreciated. Depreciation is provided at rates considered appropriate to reduce book values to estimated residual values over the useful lives of the assets concerned. Depreciation is provided on equipment at 25% p.a. on the reducing balance method.
| 2 Income & Endownment Donations and Grants Organisation-Grants Organisation Donation Total Conference donations Refund Regular General Donations one off General donations Debating Donations Laptop Donations International school Project Donations Easy funding Donation University Trip Donation Total Income 3 Expenditures Debating and Mentoring Facilitators and Speakers University Tours & Trips |
Restricted UnrestricteTotal Total 2021 2020 10000 0 10000 10000 0 500 5000 4000 10000 0 15000 14000 0 1690 1690 3305 0 1174 1174 40 0 6711 6711 4899 0 0 0 4480 0 7280 7280 3670 60 0 60 985 470 0 470 136 0 1211 1211 3370 0 0 0 0 |
|---|---|
| 10530 18066 33596 34885 |
|
| 0 5106 5106 3499 0 2455 2455 747 0 0 0 2800 |
| Conference Seminars and Workshops Study Support Venue Adverts & Publicity Subscription Travel Training Website hosting and Maintenance Fundraising expenses Office Equipment Office Expenses Volunteers Expenses Stationeries, Telephone and Postages International school project Insurance Admin and Legal Expenses Scholarship and Laptop Donation collaboration Total 4 Tangible Fixed Assets Cost at 1 June 2020 Additions during the year at 31 May 2021 Accumulated Depreciation at 1 June 2020 Charge for the year at 31 May 2021 Net Book Value at 1 June 2020 at 31 May 2021 5 Current Assets Bank Balance Prepaid Expenses 6 Bank Balance B/F Net Operating Income/Loss Bank Balance B/F 7 Deferred Income Award4All Laptop International school Support |
0 1700 1700 2500 0 859 859 2300 0 0 0 2100 0 1075 1075 800 0 556 556 0 0 20 20 0 0 1062 1062 650 0 1517 1517 637 0 2000 2000 700 0 3693 3693 0 0 1255 1255 0 0 850 850 1306 0 773 773 1590 4090 0 4090 0 0 424 424 196 0 550 550 13 0 0 0 2500 0 0 0 400 |
0 1700 1700 2500 0 859 859 2300 0 0 0 2100 0 1075 1075 800 0 556 556 0 0 20 20 0 0 1062 1062 650 0 1517 1517 637 0 2000 2000 700 0 3693 3693 0 0 1255 1255 0 0 850 850 1306 0 773 773 1590 4090 0 4090 0 0 424 424 196 0 550 550 13 0 0 0 2500 0 0 0 400 |
0 1700 1700 2500 0 859 859 2300 0 0 0 2100 0 1075 1075 800 0 556 556 0 0 20 20 0 0 1062 1062 650 0 1517 1517 637 0 2000 2000 700 0 3693 3693 0 0 1255 1255 0 0 850 850 1306 0 773 773 1590 4090 0 4090 0 0 424 424 196 0 550 550 13 0 0 0 2500 0 0 0 400 |
|---|---|---|---|
| 4090 23895 27985 22738 |
|||
| Furniture Equipment 2021 £ - - - 0 3693 3693 |
|||
| - - |
- | ||
| - - - - |
- - |
||
| - - 0 - |
- 0 |
||
| - - |
- 27366 1483 |
||
| 28849 | |||
| 21746 5620 |
|||
| 27366 | |||
| 10000 836 4340 |
|||
| 15176 |
| 8 Creditors less than one year Laptop International Project |
836 4340 |
|---|---|
| 5176 |
9 Statement of Funds
| Unrestricted Restricted |
Balance Income Expenditure 7670 15794 11502 11962 14076 17811 16483 15404 |
|---|---|
| 21746 33605 27985 27366 |
10 Staff & trustees
The organisation had no employee during the year. All of its activities are undertaken by hired professionals and Volunteers
None of them earned salary during the period above £60,000