Charity number: 1173813 ## **BL FOUNDATION** ## **UNAUDITED ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **Prepared By:** Swan Accounting Services Accounting & Business Consultancy 55 stphens Road London E15 3JJ ## **BL FOUNDATION** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **TRUSTEES** BABATUNDE LOYE GODWIN FORSON MODUPE LOYE REV ESTHER AJAYI Helena Chikezie ## **REGISTERED OFFICE** OWL Financial Imperial Place Maxwell Road Boerehamwood WD6 1JN ## **CHARITY NUMBER** 1173813 ## **ACCOUNTANTS** Swan Accounting Services Accounting & Business Consultancy 55 stphens Road London E15 3JJ page 1 ## **BL FOUNDATION** ## **ACCOUNTS** ## **FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **CONTENTS** ||Page| |---|---| |Report of the Trustees|3| |Statement of Financial Activities|4| |Balance Sheet|5| |Notes to the Accounts|6 to 9| |Detailed Statement of Financial Activities|8| page 2 ## **BL FOUNDATION** ## **FOR THE YEAR ENDED 28 FEBRUARY 2023 TRUSTEES' REPORT** The trustees present their report and accounts for the year ended 28 February 2023 ## **PRINCIPAL ACTIVITIES** The principal activity of the charity in the year under review was THE EDUCATION OF CHILDREN AND YOUNG PEOPLE . ## **STRUCTURE GOVERNANCE AND MANAGEMENT** structure and governance text goes here The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 2 October 2023 BABATUNDE LOYE Trustee page 3 ## **BL FOUNDATION** |**Statement of Financial Activities**
**for the year ended 28 February 2023**
**Income**
Income from generated funds
**Expenses**
Costs of generating funds
**Net gains on investments**
**Gains/(losses) on revaluation of fixed assests**
**Net movement in funds:**
Total funds brought forward
**Net funds carried forward**|**Unrestric**
**ted funds**
**£**
(1,791)
**(1,791)**|**Restricte**
**d funds**
**£**
-
**-**|**2023**
**Total**
**£**
(1,791)
**(1,791)**|2022
Total
£
(1,791)| |---|---|---|---|---| |||||(1,791)| This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities page 4 ## **BL FOUNDATION** ## **BALANCE SHEET AT 28 FEBRUARY 2023** |**BALANCE SHEET AT 28 FEBRUARY 2023**||||| |---|---|---|---|---| |**Notes**
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS: Amounts falling due within one year**
2
**NET CURRENT LIABILITIES**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CAPITAL AND RESERVES**
**Unrestricted funds**
General fund|241
241
2,032|**2023**
**£**
(1,791)
(1,791)
(1,791)
(1,791)|241
241
2,032|2022
£
(1,791)| |||||(1,791)| |||||(1,791)| |||||(1,791)| For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. ## **Approved by the board of trustees on 2 October 2023 and signed on their behalf by** ............................. BABATUNDE LOYE Trustee page 5 **BL FOUNDATION** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **1. ACCOUNTING POLICIES** ## **1a. Basis Of Accounting** The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **1b. Incoming Resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **1c. Resources Expended** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1d. Allocation And Apportionment Of Costs** All costs relate to the single activity of the charitable company and are recognised accordingly. ## **1e. Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. page 6 ## **BL FOUNDATION** ## **2. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** Other creditors |**2023**
**£**
2,032
2,032|2022
£
2,032| |---|---| ||2,032| ## **3. LIMITED BY GUARANTEE** The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £, to the company should it be wound up. At 28 February 2023 there were members. ## **4. RESTRICTED FUNDS** |**Brought**|**Incoming**|
**Outgoing**
**Transfers **|
**Outgoing**
**Transfers **|**Carried**|| |---|---|---|---|---|---| |**forward**|**resource**|**resource**||**forward**|| ||**s**|**s**|||| |**£**|**£**|**£**|**£**||**£**| page 7 ## **BL FOUNDATION** **Incoming Resources for the year ended 28 February 2023** |**2023**|2022| |---|---| |**£**|£| ## **Incoming resources Incoming resources from generated funds** page 8 ## **BL FOUNDATION** **Expenses for the year ended 28 February 2023** |**2023**|2022| |---|---| |**£**|£| ## **Expenses Costs of generating funds** page 9