www.vosfoundation.org.uk
VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION
Registered Charity Number: 1179368
VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION
FINANCIAL STATEMENTS
01 April 2021 to 31 March 2022
TABLE OF CONTENTS
REFERENCE AND ADMINISTRATIVE INFORMATION 1 REPORT OF THE TRUSTEES 2-5
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 6 STATEMENT OF FINANCIAL ACTIVITIES 7-9
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
REFERENCE AND ADMINISTRATIVE INFORMATION
REGISTERED CHARITY NUMBER
1179368
TRUSTEES
Trustees, who are the directors under company law, who served up to year end:
Sandra Popoola OBE Chairperson & Secretary Kara Jeffers Treasurer Charles Obazuaye Trustee Yetunde Princewill Trustee Dr Lanre Ogunyemi Trustee Kenny Popoola Trustee Sharon Esnard Trustee
REGISTERED OFFICE AND OPERATIONAL ADDRESS
England – can be provided on request.
BANKER
Metro Bank
Further details can be provided on request.
REPORT OF THE TRUSTEES
The Trustees present their report and financial statements for the year ended 31 March 2022.
Reference and administrative information set out on page 2 forms part of this report.
The financial statements comply with current statutory requirements, as recommended by Charity Commission.
STRUCTURE, GOVERNANCE AND MANAGEMENT
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
Governance
Vivian Osunkoya Shodipo Foundation was registered by the Charity Commission on 27 July 2018 with a charity registration number 1179368.
The Foundation’s main governing document is its constitution, which sets out its purpose, powers, membership, and the duties of the trustees.
The Board has a procedure for the recruitment and appointment of new trustees, including assessment of skill gaps within the Board. During the year the charity reviewed its terms of office of trustees to ensure that trustees are still in tune with the charities aim and objectives, and check whether there are areas where the charity can strengthen skills of the existing trustees or appoint new ones. Apart from the first trustees, every trustee will usually serve for 3-year terms and may be re-appointed for a further term.
The Trustees meet every quarter and/or monthly when the need arises, in person or by telephone conference call to discuss matters relevant to the Foundation.
As we entered an unprecedented era of Covid-19, the use of telephone and virtual connection was capitalised to ensure the business of the foundation was not significantly impacted.
Management
All Trustees offer their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the accounts.
The Foundation does not currently have any paid employee.
Administrative functions are performed by Trustees.
The Trustees review the aims, objectives, and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work for the 12 months in the year ending 31 March 2022. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of children that it is set up to help. The review also helps the Trustees to ensure the charity's aims, objectives and activities remain focused on its stated purposes.
OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS
VOS Foundation aims to contribute to the United Nations Sustainable Development Goals agenda, especially Goal 4: “Ensure inclusive and equitable education and promote lifelong learning opportunities for all.”
VOS Foundation is committed to the educational development of young people in regions of Nigeria. We make educational supplies, programs, and activities accessible to young people by way of building and developing capabilities so that everyone can
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
realise their full potential and participate positively as good citizens. VOS Foundation’s purpose is dispensed through empowering, inspiring, and promoting good citizenship:
Empowering
Our provision of learning materials and facilities help to empower individuals and provide the platform to relieve poverty for the less privileged.
Inspiring
Fostering sound relationships and collaboration with educational establishments both in the UK and Nigeria to help ensure we are responsive to the needs of young people and inspire confidence.
Promoting good citizenship
We promote good citizenship through the delivery of life saving first aid awareness sessions. We advance educational values, equip and prepare young people for world of work, trade or profession.
2021-22 ANNUAL REPORT
Covid-19 pandemic continued to impact fundraising activities of charities such as ours.
The good news is that, from the funds we raised in November 2020 we were able to donate funds this financial year to Abolarin College, Oke-Ila Oragun in Osun State, Nigeria.
Abolarin College was founded by Oba Dokun Abolarin Orangun of Oke-Ila Abolarin. The college offers indigent students quality education through its desire to ensure that the rights of a child to education irrespective of their social status. Some of the activities the school engage in, includes visits to catchment universities – which have included visits to Obafemi Awolowo University, Ile-Ife, University of Ilorin, Osun state University Osogbo – as a great opportunity for students to experience what is on offer to help meet their educational aspirations. Here are a couple of pictures taken during the learning about etiquette breakfast offered to some of the students:
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www.vosfoundation.org.uk
VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION
We recognise that now, more than ever, our beneficiaries need us, especially as the world grips the virus and people carry on with their lives. We are planning to get back on track with our fundraising activities so we can provide the much-needed support. We are therefore looking forward to continuing to serve our community.
FINANCIAL REVIEW
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
VOS Foundation remained solvent throughout the year and had sufficient resources to meet its foreseeable expenses.
INCOME
Total net income from donations and legacies totalled £630.83.
EXPENDITURE
Total expenditure was £500.00 donated to one of our beneficiaries.
PLANS FOR THE FUTURE
The Foundation aims to continue to maximise opportunities to raise funds to support the work of the VOS Foundation or empowering, inspiring and promoting good citizenship of young people in regions of Nigeria. Though the Covid-19 pandemic had hampered what we were able to do. We are making progress in developing a better understanding of the needs of our beneficiaries.
RISK MANAGEMENT
The Foundation keeps risks under consideration, assesses and takes steps to mitigate accordingly.
For and on behalf of the Trustees
SANDRA POPOOLA (OBE)
Chair, VOS Foundation Date: 23 January 2023
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Law applicable to charities in England and Wales requires the Trustees to prepare financial accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis).
In preparing these accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable account8ing standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity at any time and which enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
STATEMENT OF FINANCIAL ACTIVITIES
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
For the year ended 31 March 2022
PROFIT AND LOSS
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VIVIAN OSUNKOYA SHODIPO (VOS) FOUNDATION www.vosfoundation.org.uk
BALANCE SHEET
The financial statements were approved by the Trustees on Monday 23 January 2023.
For and on behalf of the Trustees
SANDRA POPOOLA (OBE) Chair, VOS Foundation
Date: 23 January 2023
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