BSSN FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] December 2023
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 2023
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 2023 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 of BSSN Foundation
Introduction
Building Spiritual and Social Network (BSSN) mission of our local charity has always been devoted to enhancing spiritual and social well-being within Milton Keynes. Our mission centres on uplifting those in need, particularly focusing on the black, minority, and ethnic community, the unemployed, underemployed, elderly, and disabled individuals. This report highlights the achievements, social impact, and the development of the BSSN Foundation throughout the year ending December 2022-2023.
Key Achievements and Social Impact
Spiritual and Social Support Initiatives
BSSN provided consistent spiritual support to the local chapel and the broader community, including several services and the BSSN Chapel Sunday Meet-Up program. These services inspired participants, who expressed gratitude for the charity's role in creating a spiritually supportive environment.
Social impact programs targeting poverty alleviation offered resources and assistance to the economically disadvantaged. Through training, fellowship, and community visits, we directly addressed the needs of marginalized groups, enabling a more inclusive support network.
Community Engagement and Outreach
The foundation’s outreach programs began to generate interest from participants and willingness to attend the BSSN Chapel in Milton Keynes. In some of our services, a few visitors attended and were inspired by the music and the lively atmosphere.
Our commitment to community church initiatives led to collaborations with diverse congregations. We connected with community members from a range of cultural backgrounds, including individuals from the Telegu community in South India, and Ghanaians, fostering the sense of being connected in spirit and fellowship.
Internet Radio Station (MKGR) Development
MKGR, our internet radio station, made significant progress in 2022 and 2023, with its internal podcasts arrangements and broadcast preparations becoming more structured and aligned with BSSN’s mission.
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A volunteer specialist dedicated to studio setup, recording, editing, and overall production management ensured that the MKGR radio station could deliver quality content, providing a new platform for spiritual outreach and community engagement.
Internship and Corporate Training Programs
Throughout the year, BSSN was focused on developing capacity for training programs and tools for an academy. This was aimed at providing internships and professional experience in the art of film and music workshops.
BSSN’s internship and training programs contribute significantly to career development, benefiting the local community by providing training opportunities for future leaders in social and spiritual outreach.
Community and Cultural Integration
The foundation's commitment to Building Spiritual and Social Networks extended beyond the Christian community, offering support to individuals irrespective of their religious backgrounds. This inclusive approach has led to meaningful connections with various cultural groups within Milton Keynes, thus strengthening our community's diversity and solidarity.
Support and Donations
Throughout the year, BSSN provided material and financial support to individuals and families in need, directly addressing challenges such as food insecurity, housing instability, and lack of access to educational resources. Our fundraising initiatives, in combination with community donations, helped us offer timely aid, fulfilling our mission of supporting the vulnerable.
Conclusion
BSSN Foundation has seen a year of growth and impactful outreach, marked by an expansion in membership, enhanced community engagement, and the establishment of new programs. Our activities in 2022 have laid a solid foundation for future growth and service in Milton Keynes. By continuing to serve with dedication, we aim to build a stronger, more inclusive community united by faith, compassion, and a commitment to social support.
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INDEPENDENT EXAMINER’S REPORT
Financial Review
The income of the charity was £ 50,387 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 2023 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 2023
| Incoming resources from Generated funds Donations and Legacies Sponsorships Other Income Total Incoming resources Resources expended in furtherance of charity objectives Charitable activities Other Total Resources Expended Net movement in funds Reconciliation of Funds Funds Brought forward Funds carrried forward |
UNRESTRICTED FUNDS £ 27,024 6,300 17,063 50,387 50,367 10,304 60,670 (10,284) 14,463 4,180 |
2023 2022 £ 27,024 9,528 6,300 35,415 17,063 8,147 50,387 53,090 50,367 20,740 10,304 16,193 60,670 36,933 (10,284) 16,157 14,463 (1,694) 4,180 14,463 |
|---|---|---|
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 |
2023 2022 £ £ 361 7,130 361 7,130 43,016 43,016 |
|---|---|
| 43,016 43,016 |
|
| 43,377 50,146 |
|
| 15,384 11,870 23,813 23,813 |
|
| 39,197 35,683 |
|
| 39,197 35,683 |
|
| 4,180 14,463 |
|
| 4,180 14,463 |
|
| 4,180 14,463 |
|
| 14,463 (1,694) (10,284) 16,157 |
|
| 4,180 14,463 |
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 2023
| Incoming resources from Generated funds Donations and legacies Donations received Sponsorship income 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 Miscellaneous expenses Net Surplus for the year |
UNRESTRICTED FUNDS 2023 2022 £ £ £ - - 1,545 27,024 27,024 7,983 6,300 6,300 35,415 14,965 14,965 765 2,098 2,098 7,382 50,387 50,387 53,090 370 370 186 26 26 64 8,000 8,000 151 - - 894 54 54 306 394 394 681 82 82 90 4,284 4,284 2,493 18,566 18,566 4,587 30 30 30 120 120 7 17,647 17,647 10,026 314 314 925 480 480 300 1,827 1,827 1,160 6,187 6,187 13,703 - - 338 250 250 319 2,040 2,040 674 60,670 60,670 36,933 (10,284) (10,284) 16,157 (10,284) (10,284) 16,157 |
|---|---|
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