## **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
Unrestricte**Total**
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