BSSN FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] December 2022
CHARITY NUMBER: 1176706
Table Of Contents
Legal & Administrative Details .……………………………………………… 1 Trustees’ Report …………………………………………………………………… 2 Independent Examiner’s Report …………………………………………….. 5 Financial Statements ………………….………………………………………… 8
BSSN FOUNDATION
LEGAL & ADMINISTRATIVE DETAILS
YEAR ENDED 31 December 2022
ADDRESS FOR CORRESPONDENCE
SUITE 26 FIRST FLOOR ACORN HOUSE 381 MIDSUMMER BOULEVARD CENTRAL MILTON KEYNES MK9 3HP
REGISTERED CHARITY NUMBER
1176706
GOVERNING DOCUMENT
CONSTITUTION ADOPTED 11/01/2018
TRUSTEES/ DIRECTORS
PETER THOMPSON NANCY THOMPSON MARIA EFFA
PRINCIPAL BANKERS
BARCLAYS BANK PLC LEICESTER LE87 2BB
INDEPENDENT EXAMINER
DKA ACCOUNTING LTD EAST WING CASTLE HOUSE DAWSON ROAD MILTON KEYNES MK1 1QT
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TRUSTEES’ REPORT
The trustees are pleased to present their report for the year ended 31st December 2022 for the charity BSSN Foundation with charity number. 1176706
The Trustees of the charity are:
PETER THOMPSON NANCY THOMPSON MARIA EFFA
The principal address of the charity is:
SUITE 26 FIRST FLOOR ACORN HOUSE 381 MIDSUMMER BOULEVARD CENTRAL MILTON KEYNES MK9 3HP
Structure, Governance and Management
The Charity governing document is a constitution that was approved on 05/05/2015 by the trustees. This was subsequently registered by Charity Commission as of 17/01/2018.
The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the charity’s financial position
Objectives and Activities
The Objects of the organization are first to advance the Christian faith in accordance with the statement of beliefs for the benefit of residents in the United Kingdom and in other parts of the world as the trustees may think fit from time to time.
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The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
Achievements and Performance
The BSSN Foundation as a charity dedicated to providing social support to marginalized groups including the black, minority, and ethnic community, the unemployed and underemployed, the elderly, and the disabled carried out her mission with due diligence. Our goal of poverty alleviation or preventing poverty through social impact programs was successful despite the constraints brought about by COVID 19 pandemic. We sponsored students on work placements/internships and provided assistance to individuals in enhancing their employability and job search.
The organization held successful services/meetings and corporate training programs throughout the year in which individuals including post master’s degree students and volunteers were given an opportunity for a BSSN internship program. Five of these students including three volunteers were trained on the different tools of project management.
The spiritual support program of the BSSN Foundation provided spiritual support to many in the local community. Many were educated and equipped on the principles and doctrines of the Christian faith.
Membership continues to grow due to the outreach programs held by the organization. I’m pleased to highlight other activities of the charity during the year ending December 2022. The mission of Building Spiritual and Social Networks with people of faith and those without faith has been the cornerstone of our activities and guides all our endeavours in serving our local community herein Milton Keynes.
Voluntary Workers Employment:
During the past year, the charity took a significant step forward by employing an additional eight volunteers to assist in various administrative tasks within the office. Total number of volunteers in the charity is twelve and their contributions have proven invaluable in ensuring the smooth operation of the charity.
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Community Engagement:
The charity engaged with local community churches. We embarked on visits to various churches to fellowship with fellow Christians from diverse cultures. These interactions provided invaluable insights into the spiritual and social well-being of God's people in our community. Through these visits, we had the privilege of connecting with individuals from the Telegu community, South India, who reside here in Milton Keynes. This interaction fostered understanding, strengthened bonds, and enriched the cultural fabric of our community.
We welcomed individuals from Granada, Thailand, Ghana, and people from other places in the world, fostering a global sense of unity among Christians. These cross-cultural exchanges were designed to promote the community church initiative, "Get to know your neighbour and be your brother's keeper."
Support and Donations:
Throughout the year, BSSN Foundation provided vital support to individuals through both monetary contributions and in-kind donations. These acts of generosity were aimed at uplifting those in need and offering a helping hand to those facing challenges. Sharing the 'Good News':
A core aspect of our mission is the propagation of the 'Good News.' This was achieved through various channels, including community events, fellowship gatherings, and outreach programs.
Conclusion:
The year 2022 has been marked by meaningful progress in fulfilling our mission. We owe our successes to the dedication and hard work of our volunteers, the support of the community, and the grace of the Almighty.
We look forward to the year ahead with great anticipation, as we continue to build spiritual and social networks that strengthen the fabric of our community.
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INDEPENDENT EXAMINER’S REPORT
Financial Review
The income of the charity was £53,090 for the period. The charity is also well positioned to manage its costs effectively.
Reserve Policy
It is the policy of the charity to maintain unrestricted funds. These are the reserves of the organisation and equivalent to 3 months of unrestricted expenditure. The aim is to ensure there is adequate funds to cover any emergency expenditure that may arise. The charity will seek to maintain this level throughout the year.
Risk Management
The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks.
Trustee Responsibilities
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the charity. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the charity at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the charity and to take reasonable steps to detect fraud or other irregularities.
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This report of the charity for the year ended 31[st] December 2022 relates to the Receipts and Payment Account.
Respective responsibilities of Trustees and examiner
The charity’s Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to:
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examine the accounts (under section 43 of the Act)
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follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and
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state whether particular matters have come to my attention.
Basis of the independent examiner’s statement
My examination included a review of the accounting records kept by the charity. It included consideration of any unusual items or disclosures in the accounts and seeking explanation 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 I do not express an audit opinion on the accounts.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that, in any material respect, the Trustees have not met the requirements to ensure that:
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proper accounts records are kept in accordance with section 41 of the Act; and
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accounts are prepared which agree with the accounting records and comply with the account requirements of the Act; or
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to which in my opinion attention should be drawn in order to enable proper understanding of
the accounts to be reached.
DAVID AKAKPO MA (FAM), ACMA, CGMA
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Incoming resources from Generated funds Donations and Legacies 1 Sponsorships 2 Other Income Total Incoming resources Resources expended in furtherance of charity objectives Charitable activities 3 Other 4 Total Resources Expended Net movement in funds Reconciliation of Funds Funds Brought forward Funds carrried forward |
UNRESTRICTED FUNDS £ 9,528 35,415 8,147 53,090 20,740 16,193 36,933 16,157 (1,694) 14,463 |
2022 2021 £ 9,528 10,890 35,415 24,093 8,147 10,226 53,090 45,209 20,740 17,347 16,193 22,054 36,933 39,401 16,157 5,809 (1,694) (7,503) 14,463 (1,694) |
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The above funds are all classed as to purpose.
All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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BALANCE SHEET AT 31 DECEMBER 2021
| ASSETS Fixed Asset Total Fixed Asset Cash at bank and in hand Cash at Bank Total Cash at bank and in hand Debtors Debtors Total Debtors Net current assets Creditors: amounts falling due within one year Current Liabilities Loans Other Creditors Total Current Liabilities Total Creditors: amounts falling due within one year Net current assets (liabilities) Total assets less current liabilities Total net assets (liabilities) Charity funds Opening Balance Surplus/(Deficit) Total Charity funds |
2022 2021 £ £ 7,130 7,792 7,130 7,792 43,016 15,182 43,016 15,182 50,146 22,973 11,870 7,401 23,813 17,267 35,683 24,668 35,683 24,668 14,463 (1,694) 14,463 (1,694) 14,463 (1,694) (1,694) (7,503) 16,157 5,809 14,463 (1,694) |
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The financial statements were approved on
30/Oct/2023
SIGNED ON BEHALF OF THE BOARD BY:
NAME:
PETER THOMPSON
STATUS
CHAIR OF BOARD OF TRUSTEES
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DETAILED INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Incoming resources from Generated funds 1 Donations and legacies Donations received Sponsorship income 2 Apprentice Sponsor payment Gift Aid Total Income Resources expended in furtherance of charity objectives Advertising/Promotional Bank charges Charitable donations paid out Employer NI Employer Pension Entertainment Insurance Legal and professional fees Office/General Administrative Expenses Phone Costs Printing, Postage and Stationery Rent or Lease of buildings Software Costs Training Travel and Accommodation Wages Other Professional Services Telephone Web development costs Miscellaneous expenses Net Surplus for the year |
UNRESTRICTED FUNDS £ 1,545 7,983 35,415 765 7,382 53,090 186 64 151 894 306 681 90 2,493 4,587 30 7 10,026 925 300 1,160 13,703 338 319 - 674 36,933 16,157 16,157 |
2022 2021 £ £ 1,545 4,960 7,983 5,930 35,415 24,093 765 - 7,382 10,226 53,090 45,209 186 31 64 117 151 1,949 894 1,366 306 378 681 14 90 411 2,493 1,055 4,587 5,087 30 42 7 31 10,026 4,974 925 93 300 1,800 1,160 256 13,703 21,798 338 319 - - 674 - 36,933 39,401 16,157 5,809 16,157 5,809 |
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