## **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.
2
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:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. 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:
- examine the accounts (under section 43 of the Act)
- follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and
- 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:
1. which gives me reasonable cause to believe that, in any material respect, the Trustees have not met the requirements to ensure that:
- 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
2. 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)**|
|---|---|---|
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)**|
|---|---|
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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