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← Kingsgen Foundation

2024-05-13-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

31[ST] MAY 2024 COMPANY LIMITED BY GUARANTEE: 8545937 REGISTERED CHARITY NUMBER: 1171918

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of Kingsgen Foundation On accounts for the year 31/05/2024 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 31/05/2023 .

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:

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.

Date: 15/10/2024 ~~|~~

Signed: Name: Ibiyinka Ibikunle ~~Cs~~ Relevant professional CIMA qualification(s) or body (if any):

Address: Robust Finance Ltd. Stratford House. Waterside Court. Neptune Way. Rochester. ME2 4NZ

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

KingsGen Foundation

LEGAL & ADMINISTRATIVE INFORMATION

For the year ended 31 May 2024

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 Mrs Bosede Babalola Management Committee Rev Nick Nunayon Chief Executive Officer Mrs Sola Goriola Director Mrs Bosede Babalola Director Mrs Folakemi Verissimo Director Mrs Oluyemi Nunayon Non Executive Director

Registered Office

9 Clive Avenue Dartford DA1 3LD

Page 1

Kingsgen Foundation

For the year ended 31 May 2024

The trustees have pleasure in presenting the report and accounts of the charity for the year ended 31 May 2024

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.

Kingsgen is a member of NCVO and London Youth

FINANCIAL REVIEW

The organisation saw its income dropped due the impact of the pandemic on our supporters income. Our expenditure increased due to buying of technogical equipment, software and paying for more virtual facilitators. Our income for the year ended was £30836 and expenditure was 41753 £10000 of the expenditure was community fund received and accounted for in 2023 We were able to meet our expenditures due to our financial reserves Cash balances for the year ended was at 25446

Part of the cash balance consist of differed income of

International schools project support and visits to the schools £12822

TRUSTEE RESPONSIBILITIES

The trustees present their report together with the financial statements of

Kingsgen Foundation for the year ended 31 May 2024.

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).

Trustees, Annual Impact Reportforthe year ended 31st May 2024 l. Introduction 2024 has been a iemarkable year of growth and impact for the Kingsgen Foundation. Despite ongoing challenges, we've expandeci our programs, particularly in hybrid formats, allowing us to engage more participants across the UK and Nigeria. Our continued focus on education. leadership, and mental health has empowered students, parents, and communities. 2. KeyAchievements (June 2023- May 2024) Hybrid Conferences & Events.. We successfully hosted hybrid conferences throughout the year, experiencing a 500/0 increase in attendance compared to the previous year. University Visits: 60 students visited both Oxford and Cambridge universities. a 30 % increase from the previous year, as students f rom other parts of the country were able to join. SchoolTrips'. 45 students participated in a school trip after lockdown restrictions were eased. offering them iialuable educational experiences. Academic Success: One student was admitted to Oxford University to study medicine. Two additional students started medical schools. 80¥0 of our students secured admission to their chosen universities. International Achievement: One of our students graduated f rom Harvard University and continued postgraduate studies at Cambridge University. Leadership and Mentoring: 31 students visited Barclays Bank's headquarters at Canarywharf, London, for a leadership workshop. 25 students graduated from the 12-month Kingsgen Leadership Mentoring Academy. Supplementary School In Nigerla: Our supplementary school launched in February 2024 with six teachers and 90 Senior Secondary students studying Maths, English, Science, and Government. Mental Health Support: 15 parents were trained to become Mental Health First Aid Champions, contributing to strongerfamily and community mental health support. Cultural Exposure: 20 students attended the Hamilton musical in London's West End, with overwhelmingly positive feedback trom participants. strongerfamilyand community mental health support.

  1. Plans for 2024125 Financialyear Mentoring Program Expansion: We will continue the"From Classroom to Boardroom" program, focusing on leadership and professional development for young people aged 13-18. Academic Support In Core Subjects: Seek funding to restart academic support and tutoring programs in Maths, English, and Science. STEM Programs.. Expand STEM workshops to expose young people to careers in science, technology, engineering, and mathematics. Mental Health & Wellbeing: Continue supporting children, young people, and parents with mental health programs and expand parental support through further Mental Health First Aid training. Digital Skills Training.. Offer digitdl skills workshops for young people and their parents to enhance employability and technological proficiency. Expansion of Nigerlan Projects.. Explore opportunities to support more students in Nigeria and visit the Nigeria project site to assess progresq and needs. Hybrid Program Continuation: Maintain hybrid formats for our programs to reach broader aud ierfces in both the U K and Nigeria. other initiatives. Corporate Partnerships- Forge new partnerships with corporate organizations to support leadership development and Recrultment.. Seek f unding to hire an additional staff member to support program growth and operational needs. APPROVAL This report was approved bythe trustees on 2nd11012024 and signed on their behalf by: Mr. Bayo avid Rufai Chairman Trustees Board

KINGSGEN FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST MAY 2024

Income

Notes

Income
Notes
2024 2023
Restricted Unrestricted Total
Donation 2 30,836 30,836 27674
Grants 2 0 0 0 9700
Total Operating Income 0 30,836 30,836 37374
Expenditure
Total Expenditure 3 11,540 30,213 41,753 25144
Net Income -11,540 623 -10,917 12230
Bal Bf 11630 3302 14932 2702
Total funds carried forward 90 3,925 4,015 14932

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 2024 AS AT 31 MAY 2024 AS AT 31 MAY 2024 AS AT 31 MAY 2024
Notes 2024 2023
Fixed Asset 4 4,694
Current Assets
Bank Balance 5 25446 27,588
Debtors 6 588
26034 32,282
Current Liabilities
Creditors Amounts due within one year 7 6197 1,561
Creditors Amounts due more than one year 8 3000
Deffered Income 9 12822 15,789
Net Current Assets 4015 14,932
Total net assets(Liabilities) 4015 14,932
Unrestricted 3,925 3,302
Restricted 90 11,630
General Fund 4,015 14,932

The notes on page 6-7 form part of these accounts

For the year ending 31st May 2024 the company was entitled to exemption from audit under

T he members have not required the company to obtain an audit in accordance with section 476 of the company Act 2006 session 477(2) of the Companies Act 2006 The directors acknowledge their responsibilities for:

i)ensuring the company keeps accounting records which comply with section 386 ii)preparing accounts which give a true and fair view of the state of affairs of the company as at the of the financial year, and of its 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 2nd October 2024

Mr. Bayo David Rufai Chairman Trustee

Kingsgen Foundation

Notes to the accounts

for the year ended 31 May 2024

2 Income & Endownment Restricted Unrestricted Total
2024 2023
Donations and Grants
Organisation-Grants NCLF 0 9700
Organisation Donation 0 3450 3450 0
Total 0 3450 3450 9700
Conference donations 392
Stationery Refund 0 95 95 39
Regular General Donations 0 6647 6647 9343
one off General donations 0 615 615 2000
Laptop Donations 0 5200 5200 0
International school Project Donation 0 7785 7785 1050
online Donation 0 184 184 20
University Trip Donation 4010 4010 5390
Coding Income 0 0 0 30
Gift Aids 0 0 0 4440
Farm Trip 0 0 0 0
Donation Mentoring 0 2740 2740 4290
Insurance refund 0 0 0 246
Hotel Refund 0 0 0 264
Volunteer Exp Refund 0 0 0 75
Admin Refund 109 109
Travel Refund 0 96
Total Income 0 30836 30836 37374
3 Expenditures Restricted Unrestricted Total 2023
Charitable
Debating and Mentoring 269 303 572 5690
Facilitators and consultancy 3475 21350 24,825 3939
University Tours & Trips 1054 0 1,054 3249
Conference Seminars and Workshops 0 0 0 0
Study Support 0 0 0 3405
Parenting Workshops 0 0 0 3170
Digital & Coding Workshops 0 0 0 1320
Covid - 19 Film 0 0 0 1895
Active & Creative Mind 0 0 0 638
Venue 980 230 1,210 1021
Adverts & Publicity 0 252 252 495
Subscription 0 0 0 460
Travel 75 75 0
Hospitality 0 0 0 1028
Training 0 978 978 594
IT Softwares 0 0 0 320
Website hosting and Maintenance 0 394 394 0
Fundraising expenses 0 0 0
IT & PA Equipment 0 0 5766
Depreciation and Write off 0 3154 3,154 3200
Office Expenses 0 0 0
Volunteers Expenses 460 1339 1,799 1069
Stationeries, Telephone and Postages 0 668 668 86
International school project 1122 0 1,122 0
Insurance 0 0 0 247
Admin and Legal Expenses 0 820 820 639
Scholarship and Laptop Donation 3806 3,806 0
Collaboration/Donation 0 325 325 0
Donation Refund 0 240 240
School Trip 374 0 374
Bank Charges 0 84 84 30
Total 11540 30213 41,753 38261

4 Tangible Fixed Assets

Tangible Fixed Assets
Furniture Equipment
Cost
at 1 June 2023 = - 3154
Additions during the year 0 0
at 31 May 2023
Charge for the year
at 31 May 2024
Net Book Value
at 1 June 2023
at 31 May 2024
5 Current Assets
Cash at bank
Cash at Bank
6 Debtors
Donations
Donations
Donations
Donations
Donations
Donations
Donations
Donations
Donations
7 Creditors less than one year
Core Cost (Office)
Project Management
International Project
Stationery
7 Creditors more than one year
Consultancy
8 Deferred Income
University trip
International school Support		 -
3154		 -
3154
-
-
0
3154
-
3154
0
3154
0
0
25446
25446
10
400
8.5
10
10
25
5
20
100
588
1589
4500
100
8
6197
3000
70
12752
12822

11 Fund Balance on 31st May 2024 are represented by

Fund Balance on 31st May 2024 are represented by
Restricted
Unrestricted
Total Fund		 90
3925
4015

11 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 £60000