**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** .
- **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:** 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.
3. 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**
- 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 gener 0 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 33% p.a. on the reducing balance method.
|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