## **KORE DEVELOPMENT CHARITY** Report and Financial Statements for the period ended 30 September 2023 ## **KORE DEVELOPMENT CHARITY** ## **ANNUAL REPORT FOR THE YEAR ENDED 30[TH] SEPTEMBER 2023** |**CONTENTS**
**Page**
CharityInformation
3
Report of Trustees
4-6
Independent Examiner’s Report
7
Statement of Financial activities
8
Balance Sheet
9
Notes to the Accounts
10 -11|**CONTENTS**
**Page**
CharityInformation
3
Report of Trustees
4-6
Independent Examiner’s Report
7
Statement of Financial activities
8
Balance Sheet
9
Notes to the Accounts
10 -11|**CONTENTS**
**Page**
CharityInformation
3
Report of Trustees
4-6
Independent Examiner’s Report
7
Statement of Financial activities
8
Balance Sheet
9
Notes to the Accounts
10 -11| |---|---|---| ||CharityInformation|3| |||| ||Report of Trustees|4-6| |||| ||Independent Examiner’s Report|7| |||| ||Statement of Financial activities|8| |||| ||Balance Sheet|9| |||| ||Notes to the Accounts|10 -11| **CHARITY NUMBER: 1175928** **KORE DEVELOPMENT CHARITY ANNUAL REPORT FOR THE YEAR ENDED 30[TH] SEPTEMBER 2023** ## **REFERENCE & ADMINISTRATIVE DETAILS** **Charity Name** KORE DEVELOPMENT CHARITY **Charity Registration No** 1175928 **Address** 5a Sunny Crescent London NW10 0RE **Trustees** Andrea Dennis Ian Burke Tefelah Forde **Bankers** Lloyds Bank 25 Gresham Street London EC2V 7HN **Independent Examiner** Dunstanette Kuti FCCA Skillspool Training Adiaha Antigha Centre 24-30 Dalston Lane London E8 3AZ 3 **CHARITY NUMBER: 1175928** ## **KORE DEVELOPMENT CHARITY ANNUAL REPORT FOR THE YEAR ENDED 30[TH] SEPTEMBER 2023** ## **Report of Trustees** The Trustees present their report and financial statements for the year ended 30[th] September 2023 Charity: Kore Development Charity ## **Aims and Objectives:** We are a charity designed to enrich the lives of families within the Brent community. Our team understands the Social Economic factors of poverty and its effects to, individuals, families and most importantly communities. We aim to help and rebuild a stronger community, by creating activities for disadvantaged families to engage in positive social experiences and unforgettable journeys. ## **Development, Activities and Achievements this Year** This year, our charity has successfully organised and delivered a four-week summer camp, providing meaningful employment opportunities for 8 to 10 young people while enhancing their job skills. Additionally, we planned and executed several family trips aimed at strengthening family bonds. We have actively supported local community groups in their efforts to recruit more participants. Furthermore, we have established a walking group designed to combat the mental health risks associated with isolation, promoting both physical and mental well-being. ## **Future Developments** Looking ahead, we are planning our second summer camp for 2024. We are collaborating with other community groups to deliver more projects that bring together all generations. In response to community feedback, we are also looking to expand our employability and training opportunities for 18 to 24-year-olds and the long-term unemployed. ## **Transactions and Financial Position** The financial position of the charity is currently strong. We have successfully managed our liabilities and are pleased to report that all outstanding debts have been settled. Our financial transactions and overall position reflect effective management and stability, ensuring we are in a favourable position to continue supporting our mission and objectives. 4 **CHARITY NUMBER: 1175928** ## **FINANCIAL REVIEW AND RISK MANAGEMENT.** Trustees clearly understand the need to review the risk register for the organisation to identify specific areas of risk and provide dates and details of action\s to be taken going forward. Considering the ever-increasing uncertainty that the Coronavirus has placed on the charity budgeting remains the cornerstone of our financial management to be sure the charity does what it should ideally before the financial year begins albeit determined by what funds we acquire. However, we have financial rules in place and board members have the financial skills needed to give verbal and written reports with as much detail as is appropriate to the size of the charity. ## **TRUSTEE RESPONSIBILITIES.** The Board of Trustees recognise their responsibilities for keeping proper accounting records and preparing financial statements each year. The Annual accounts document our finances for the period ended 30[th] September 2023 and were independently examined by accountants Skillspool Training. ## **OUR WORK THIS FINANCIAL YEAR** This financial year has been marked by significant achievements and impactful activities, showcasing our commitment to community development and support. We have actively pursued various grants that align with our mission and values. Additionally, we have established partnerships with multiple organisations to support our fundraising efforts, ensuring sustained financial support for both the current and future years. ## **REVIEW OF ACTIVITIES.** Key highlights include: ## 1. Summer Camp: Our summer camp, held over four weeks, was a notable success last year and has been repeated for this year. We have engaged and educated both the young people who attended and those employed to work at the camp. This initiative provides valuable employability and mentoring opportunities, helping participants develop essential skills and gain practical experience. ## 2. Community Engagement: The camp also played a crucial role in fostering community cohesion. By bringing people together, we encouraged a sense of belonging and facilitated opportunities for individuals to connect and support each other, embodying the principle of "knowing thy neighbor." ## 3. Youth Development: Our efforts to transform and enhance the mindset of young people were particularly effective. We equipped them with the skills needed to support their 5 **CHARITY NUMBER: 1175928** families, contributing to improved family dynamics and overall well-being. ## 4. Family Support: We provide families with valuable resources and guidance to access information aimed at improving their financial and social well-being. This support has helped many families better manage their financial situations and enhance their quality of life. Overall, our activities this year have not only achieved significant milestones but have also laid a strong foundation for continued success and positive community impact in the future. ## **Declarations** The Trustees declare that they have approved the Trustees’ report above. Signed on behalf of the charity’s Trustees. 25/07/2024 Andrea Dennis:............................. Date:...................... 6 **CHARITY NUMBER: 1175928** ## **INDEPENDENT EXAMINER’S REPORT** ## **TO THE BOARD OF TRUSTEES OF KORE DEVELOPMENT CHARITY** I report on the accounts for the charity for the period ended 30[th] September 2023 ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 and that an Independent Examination is needed It is my responsibility to: - examine the accounts under section 145 of the Charities Act; - to follow the procedures laid down in the general directions given by the Charities - Commission (under section 145(5)(b) of the Charities Act), and - to state whether particular matters have come to my attention. ## Basis of independent review My examination was carried out in accordance with general directions 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 accounts, and seeking explanations from the 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 statement below. ## Independent examiner’s statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the Trustees have not met the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records, and comply with the accounting requirements of the 2011 Charities Act (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Dunstanette Kuti, FCCA MCSI Position: Community Accountant Skillspool Training CIC Adiaha Antigha Centre, 24-30 Dalston Lane, London E8 3AZ Date: 25/07/2024 7 **CHARITY NUMBER: 1175928** ## **KORE DEVELOPMENT CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30[TH] SEPTEMBER 2023** |**Note**
**INCOME FROM:**
Charitable Activities
**Total:**
**2**
**EXPENDITURE ON:**
Charitable activities
**Total:**
**3**
**NET INCOME (EXPENDITURE) FOR YEAR**
**Funds brought forward**
**Total funds carried forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2023**
**£**
**£**
**£**
12,356
46,323
58,679| |---|---| ||12,356
46,323
58,679| ||6,758
36,948
43,706| ||6,758
36,948
43,706| ||5,598
9,376
14,974
4,796
-
4,796| ||**10,394**
**9,376**
**19,770**| The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended are derive from continuing activities. The notes form part of these financial statements 8 **CHARITY NUMBER: 1175928** ## **KORE DEVELOPMENT CHARITY BALANCE SHEET AS AT 30[TH] SEPTEMBER 2023** **Note 2023 2023 £ £ CURRENT ASSETS:** Cash at bank and in hand 20,470 20,470 **CREDITORS** : Amount falling due within one year (700) **NET ASSETS 19,770 RESERVES:** Restricted Funds 9,376 Unrestricted Funds 10,394 **6 19,770** 25/07/2024 The financial statements were approved by the Board of Trustees on ………………………. and were signed on its behalf by: Andrea Dennis:……………………………………………… 25/07/2024 Date:…………………………………………………………… 9 **CHARITY NUMBER: 1175928** ## **KORE DEVELOPMENT CHARITY** ## **Notes to the Financial Statements for the for the period ended 30[th] September 2023** ## **1. ACCOUNTING POLICIES** ## 1.1a Basis of preparation of the financial statements The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice "Accounting & Reporting by Charities" revised in 2015. ## **1.1b Fund Accounting** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of a grant. |**2. Income**
Grants
Fees
Other income
**3. Expenditure**
Staff costs
Marketing & Publicity
Sessional workers
Project activities
Equipment
Legal & Professional
Office expenses
Rent
Travel expenses
Trips
Accountancy Fees|**Unrestricted**
**Restricted**
**Total**
**Funds 2023**
**£**
**£**
**£**
-
46,323
46,323
4,420
-
4,420
7,936
-
7,936
| |---|---| ||12,356
46,323
58,679| ||**Unrestricted**
**Restricted**
**Total**
**Funds 2023**
**£**
**£**
**£**
-
19,071
19,071
-
789
789
-
548
588
-
2,380
2,380
-
9,681
9,681
-
600
600
-
3,469
3,469
-
135
135
-
275
275
6,058
-
6.058
700
-
700
6,758
36,948
43,706| 10 **CHARITY NUMBER: 1175928** ## **4. Staff Costs** Wages and salaries **2023 £** 19,071 The number of employees at the end of the period ## **5. Trustee Remuneration & Related Party Transactions** No remuneration directly or indirectly out of the funds of the charity was paid or is payable for the period to any trustee or to any person or persons known to be connected with any of them. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the period. ## **6. Movement in Funds** |**. Movement in Funds**|| |---|---| |**Restricted Funds**
**Unrestricted**: General Fund
Funds brought forward
**Total Funds c/fwd**|**Income**
**Expenditure**
**Transfers**
**At 31 Sept**
**2023**
**£**
**£**
**£**
**£**
46,323
(36,948)
-
9,376
12,356
(6,758)
-
5,598| ||4,797
-
-
4,797| ||10,395
9,376
-
19,770| 11