WINNIES CASTLE OF LOVE ORPHANAGE HOME
Charity Number 1172670
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDING 31 DECEMBER 2022

WINNIES CASTLE OF LOVE ORPHANAGE HOME
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
CONTENTS
PAGE
Reference and administrative details
Trustees report
Independent Examiner's report
Statement of financial artivities
Balance sheet
Notes to the accounts
10- 13
Page I

WINNIES CASTLE OF LOVE ORPHANAGE HOME
REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE CHARITI, ITS TRUSTEES AND
ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
Mr Yemi Aiyeola
Mr Ayuba Aleshe
Mr Dotun Makinde
Mr Tumbi Idowu
Mrs Osaro Aiyeola (Operations Manager)
Patrons/Matron
Otunba Kunle Kalejaiye SAN
Dr Adetunji Oredipe
Mrs Bose Agbesanwa
Principal Office
46 Millfield Avenue
Walthamstow
London
E17 SHH
Operations Office
Plot 60 Akingbola Layout
Felele
Challenge Area
Ibadan
Oyo State
Nigeria
Independent Examiner
Akintayo Ojo FCCA
Resource Management Consultants Ltd
46 Hollywood Way
Erith
DA8 2QE
Bankers
Barclays Bank
Chingford Branch
London
United Kingdom
First bank PLC
8 Itapeju Street
Apapa
Lagos
Nigeria
Page 2

WINNES CASTLE OF LOVE ORPHANAGE HOME
TRUSTEES, REPORT
FOR YEAR ENDED 31 DECEMBER 2022
The trustees submit their report and financial statement for Winnies Castle of Love Orphanage Home
(The Charity) for the period ended 31 December 2022. The trustees confirm that the trustees, report
and financial statements of the charity comply with current statutory requirements of the charity's
governing document and the provisions of Charities Act 2011.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Winnies Castle of Love Orphanage Home was constituted as a Charitable Incorporated Organisation
("the CIO") with a constitution dated 25th January 20 17. The trustees has filed an application to
register the organisation with the Charity Commission as a charity in England and Wales.
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed and or co-opted under the terms of the governing document and also with
consideration to the experience they bring to the board and the affairs of the charity.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES
The induction process for a newly appointed trustees comprises of an initial meeting with the chair
and other trustees, followed by short meetings with the Operations Manager on the powers and
responsibilities of the trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity is organised so that the trustees meet regularly to mange its affairs. The Operations
Manager manages the day to day administration of the orphanage.
OBJECTIVES AND ACTIVITIES
The principal objert is the advancement of education, and the relief of poverty. To achieve its
objectives, the charity adopted the following strategies..
Running an orphanage where distressed and abandoned orphans and vulnerable children are cared.
We provide basic needs like food, shelter and other welfare necessities for the children ages O - 16.
We provide good and wholesome education and life skills in a caring environment for abandoned
and orphaned children between ages 0-16 and also provide vocational skills for self sufficiency in
adulthood.
PUBLIC BENEFITS
Apart from providing home, education and life skills for abandoned, orphaned ad distressed children,
Winnies Castles of Love Orphanage Home was engaged in some other charitable artivities for public
benefits. These include the following..
Further advisory support for the Association of Orphans and Vulnerable Children in Nigeria in Oyo
State. We also support the Child Protection Network in Nigeria and other similar organisations.
We condurted Children's day Charity Walk to create awareness and sensitise the public on
HIV/AID, and Child abuse etc, We also held an annual Children's Christmas party.
Page 3

WINNIES CASTLE OF LOVE ORPHANAGE HOME
TRUSTEES, REPORT
FOR YEAR ENDED 31 DECEMBER 2022
Our efforts are geared towards promoting healthy life for distressed, abandoned and orphaned
children in Nigeria. We also endeavour to build cohesion and good practice amongst practitioners
and organisations imparting the lives of these young vulnerable people.
REVIEW OF ACTIVITIES
Winnies Castle of Love orphanage Home continues to enjoy tremendous growth in its activities in
the year, and in the advancement of education and relief of poverty among the young vulnerable
people, in accordance with the doctrines set out in our constitution.
During 2022, we provided home and basic needs for 33 children with age ranging between 2 and
16 years of age.
We continue to place our children in full time education with reputable private nursery, primary
and secondary schools in Ibadan, Oyo state Nigeria.
The Charity started a project tagged "Some Mothers Do Have Them SMDHT" SMDHT is an
initiative that seeks to identify orphans and vulnerable children, and children with special need that
have unique talents in arts, singing, dancing and spoken word poetry, and provide them with a
platform to express and showcase their talent to the world.
Auditions to screen and select participants of the inaugural edition held on 13 August 2022, while
the grand finale held on the 9th October 2022.
The theme for the maiden edition was "FREEDOM FROM MY WORLD" We chose this theme to tell
the children that they should not allow their circumstances to hold them back.
The year's competition was in five categories and the best three in each category were awarded
prizes for being outstanding.
To achieve our goals, we depended mostly on the generosity of well-meaning organisations and
individuals, who have compassion and empathy for the plight of the plight of the less privileged
and will not turn a blind eye when approached for assistance.
FUTURE DEVELOPMENTS
The charity continues to explore various ways of providing suitable homes and better life for
vulnerable children in Ibadan Nigeria. The charity is also planning to embark on fund raising to
build her own school to enable her make more life-changing impact at a reduced cost.
VOLUNTEERS
The charity is grateful for the unstinting efforts of its volunteers who are involved in providing
services at the orphanage. It is estimated that over 6,000 hours were provided by volunteers in the
year. If this is conservatively valued at 300 Naira per hour, the volunteers effort will amount to over
1,800,000 Naira {£3,600) per year.
Page 4

WINNIES CASTLE OF LOVE ORPHANAGE HOME
TRUSTEES, REPORT
FOR YEAR ENDED 31 DECEMBER 2022
RESERVES POLICY
The trustees, policy is to have unrestrirted and uncommitted funds {free reserves) to cover
3 to 6 months of resources expended. They feel that this would enable the current artivities to
continue if there is any significant drop in funding. It would obviously be necessary then to
consider how the funding would be replaced or activities changed. The present free reserve is
within the policy range but the trustees are continuing to seek additional funds for the reserves.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed, in particular those
related to operations and finances of the charity, and are satisfied that systems are in place to
mitigate our exposures to major risks.
PRINCIPAL FUNDING
Funding has been provided mainly through donations from friends, and organisations. We also
receive pledges from donors for specific projects. The Charity received grant from Davido
for the day to day running of the Charity.
List of major donor organisations
Goldspeed
Davido Foundation
CURRENCY TRANSLATION FOR FINANCIAL REPORTING
The charity operates her orphanage in Nigeria and as such part of its income was received in
Nigeria. The charity also incurred expenses in Nigeria. For the purpose of this report, receipts
and payments had been translated to Great Britain Pound Sterling at the rate of 650 Nigerian
Naira to l British Pound.
Page S

WINNIES CASTLE OF LOVE ORPHANAGE HOME
TRUSTEES, REPORT
FOR YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES, RESPONSIBILtTIES
The Trustees are responsible for preparing the annual report and financial statements in accor-
dance with applicable laws and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under
that law, the trustees have elected to prepare the financial statements in accordance with the
United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards
and applicable law). The financial statements are required to give a true and fair view of the
state of affairs of the charity and of the surplus or deficit of the charity for that period.
In preparing the financial statements, the trustees are required to:
Select suitable accounting policies and the apply them consistently;
Make judgement and estimates that are reasonable and prudent.
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and enable them to ensure
that the financial statements comply with the Charities Act 20 1 l. They are also responsible for
safeguarding the assets of the company and hence taking steps for the prevention and detection
of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been
examined by an independent examiner, whose report is also appended.
Approved by the trustees on
2023 and signed on their behalf by:
Mr Yemi Aiyeola
Trustee
Mr Ayuba Aleshe
Trustee
Page 6

WINNIES CASTLE OF LOVE ORPHANAGE HOME
INDEPENDENT EXAMINERS REPORT
FOR YEAR ENDED 31 DECEMBER 2022
TO THE TRUSTEES OF WINNIES CASTLE OF LOVE ORPHANAGE HOME
I report on the accounts of the charity for the period ended 31 December 2022 which is set on
pages 8- 12
RESPECTIVE RESPONSIBILtTIES OF THE TRUSTEES AND THE EXAMINER
The charity trustees are responsible for the preparation of the accounts. The Charity's trustees
consider than an audit is not required for the period under section 142{2) of the Charities Act
2011 and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of Charities Act 2011;
follow the procedures laid down in the general Directions given by the Charity
Commissioners (under section 145{51(b) of the 2011 Art; and
state whether particular matters have come to my attention.
BASIS OF MY EXAMINATION
My examination was carried out in accordance with the General Dirertions given by the
Charity Commission. An examination includes a review of the accounting records kept by the
charity and a comparison of the accounts presented with those records. It also includes
consideration of any unusual items or disclosures in the account, and seeking explanations
from you as trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequently no opinion is given as to
whether the accounts present a "true and fair" view and the report is limited to those matters
set out in the statements below.
EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
( l) which gives me reasonable cause to believe that in any material respert the trustees
have not met the requirements to ensure that..
proper accounting records are not kept in accordance with the Charities Act,. and
accounts are prepared which agree with the accounting records and comply with the
accounting requirements of the Charities Act 2011; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper under-
standing of the accounts to be reached.
Akintayo Ojo FCCA
Association of Chartered Certified Accountant
46 Hollywood Way, Erith. DA8 2QE
2023
Page 7

WINNIES CASTLE OF LOVE ORPHANAGE HOME
STATEMENT OF FINANCIAL A￿1VITIEs
FOR YEAR ENDED 31 DECEMBER 2022
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
Notes
2022
2022
2022
2021
Incoming resources
Donations (Nigerial
Donations (United Kingdom)
Grants Received
Total incoming resources
8,830
9,552
1,150
19,532
8,830
9,552
3,535
21,917
7,870
13,451
2,385
2,385
21,321
Resources expended
Cost of activities in furtherance of charity's objects
Cost of activities in furtherance of charity's objects
Management and governance cost
Total resources expended
14,216
1,200
4,865
20,281
14,216
3,585
4,865
22,666
21,439
2,385
5,572
27,011
2,385
Net(outgoing)/incoming resources for the year
749
749
5,690
Total funds at the start of the period
3,699
3,699
9,389
Balance at the end of the year
2,950
2,950
3,699
Page 8

WINNIES CASTLE OF LOVE ORPHANAGE HOME
BALANCE SHEET
AS AT 31 DECEMBER 2022
Total
Total
Funds
Funds
Notes
2022
2021
Fixed Assets
Tangible fixed assets
io
740
1,480
Current assets
Stocks
Cash at bank and in hand
2,460
2,460
2,419
2,419
Less: Current Liabilities:
Creditors.. Amount falling due within
One year
Net assets
250
2,950
200
3,699
Financed BY: Charity funds
General unrestricted
2,950
2,950
3,699
3,699
The accoLJnts have been prepared in accordance with the special pmvision of Statement of Recommended Pr3Ctice'.
Accounting and Reporting by Charities ISORPI issued March 2005 as modified for smaller charities
Approved by the Trustees on
2023 and signed on their behalf by..
Mr Yemi Aiyeola
Page 9

WINNIES CASTLE OF LOVE ORPHANAGE HOME
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2022
I. ACCOUNTING POLICIES
( l. l) Basis of preparation of financial statements
These accounts have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008) .The financial
statements have been prepared with Statement of Recommended Practice (SORP), "Accounting
and Reporting by Charities published in March 2005 and applicable accounting standards.
(1.2) Incomi ng resources
All incoming resources are included in the statement of financial artivities when the charity is
legally entitled to the income and the amount can be reasonably quantified with reasonable
accuracy.
(1.3) Resources expended
All expenditures are accounted for on an accrual basis. Management and governance costs
are cost incurred in connection with administration and compliance with statutory requirement
Unrestricted
Restricted
Total
Tot31
Funds
Funds
Funds
Funds
2022
2022
2022
2021
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOUR
Donations Received in Nigeria
Goldspeed
Regular Giving's
Other Income
2,447
2,645
3,738
8,830
2,447
2,645
3,738
8,830
2,437
1,969
3,464
7,870
Total
Donations Received in United kingdom
Friends of Winnie UK
Gift Aid for previous years
Total
9,552
9,552
13,451
9,552
9,552
13,451
Grants Received
Davido Fund
1,150
1,150
2,385
3,535
SMDHT Project Fund
Total
2,385
2,385
1,150
Page 10

WINNIES CASTLE OF LOVE ORPHANAGE HOME
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2022
Unrestricted Restricted
Total
Total
Funds
Funds
Funds
Funds
2022
2022
2022
2021
5. COST OF ACTIVITIES IN FURTHERANCE OF CHARifi's OBJEC
Children's, School Fees
Home Maintenance Expenses
Child Care Expenses
Home Utilities (Electricity & Gas)
Medical Expenses
Cleaning
Motor Running Expenses
Traveling & Subsistence
Direct Staff Cost
3,891
2,016
2,418
715
285
55
456
318
1,724
1,472
740
126
3,891
2,016
2,418
715
285
55
456
318
1,724
1,472
740
126
3,702
2,094
2,728
539
719
65
655
364
1,935
1,187
1,804
2,862
2,785
21,439
Welfare Support, staff incentive & palliatives
Depreciation
Stationery, telephone & stocks
Anniversary Expenses
14,216
14,216
6. SMDHT Project Cost
Year ended year ended
Unrestricted Restricted
31-Dec
2022
31-Dec
2021
Funds
Funds
Project cost
1,200
2,385
3,585
1,200
2,385
3,585
7. MANAGEMENT AND GOVERNANCE COSTS
Year ended Year ended
Unrestricted Restricted
31-Dec
2022
31-Dec
2021
Funds
Funds
Management staff cost
Examiner's fees accountancy
4,615
250
4,865
4,615
250
4,865
5,372
200
5,572
8. CASH BALANCES
Year ended year ended
31-Dec
31-Dec
2022
2021
Total balances held in all current accounts at period end
2,460
2,460
2,419
2,419
Page 11

WINNIES CASTLE OF LOVE ORPHANAGE HOME
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2021
9. CREDITORS
Year ended Year ended
31-Dec
31-Dec
2022
2021
Accrued accountancy fees- current year
250
250
200
200
10. TANGIBLE FIXED ASSETS
Office
equipment
Bore Hole
System
Motor
Vehicle
Total
31-Dec
2022
Cost
At l January 2022
Additions
At 31 December 2022
3,360
902
2,960
7,222
3,360
902
2,960
7,222
Depreciation
At l January 2022
Charge for the year
At 31 December 2022
3,360
902
1,480
740
2,220
5,742
740
6,482
3,360
902
Net book value
At 31 December 2022
740
740
At 31 December 2021
1,480
1,480
11. STAFF COST AND NUMBERS
Staff costs were as follows
Year ended Year ended
31-Dec
31-Dec
2022
2021
Wages and salaries
6,339
6,339
Year ended Year ended
The average number of employee during the year was as follows
31-Dec
31-Dec
2022
No.
2021
No.
Operations Manager
Support Staffs
Total
Page 12

WINNIES CASTLE OF LOVE ORPHANAGE HOME
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2022
12. TRUSTEES RENUMERATION
Year ended Year ended
31-Dec
31-Dec
2022
2021
During the year, no trustee received any remuneration
During the year, no trustee received any benefits in kind
13. INCOMING RESOURCES/(RESOURCES EXPENDED)
This is stated after charging
Year ended Year ended
31-Dec
2022
31-Dec
2021
Accountant's fees
Depreciation
250
740
200
1,804
Page 13