2022-09-30-accounts - Drive Diagnostics Aid (Dda)

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Charity Commission Registration No- 1183892

DRIVE DIAGNOSTICS AID (DDA)

Report and Financial Statements

For the Year ended 30 September 2022

DRIVE DIAGNOSTICS AID (DDA)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 September 2022

Contents	Page
Legal and Administrative Information	2
Report of the Trustees	3-7
Independent Examiner's report	8
Statement of Financial Activities	9
Balance sheet	10
Notes forming part of the Financial statements	11-13

DRIVE DIAGNOSTICS AID (DDA) REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 September 2022

LEGAL AND ADMINISTRATIVE INFORMATION

Officers and Professional advisers

TRUSTEES

CONSTANCE CHINYERE OKEREAFOR DR CHYKE OHUEGBE UCHENNA OHUEGBE JUDE-MALACHY CHIKE EZEONWUKA

REGISTERED OFFICE

INNOVATION CENTRE 225 MARSH WALL LONDON E14 9FW

BANKERS

BARCLAYS BANK PLC

EXAMINER

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

CHARITY COMMISSION REGISTERED NUMBER 1183892

DRIVE DIAGNOSTICS AID (DDA)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 September 2022

The Trustees, for the purposes of the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their annual report and financial statements for the year ended 30 September 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the Charity. The Charity is governed by a Memorandum and Articles of Association.

PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY

The principal activities of the charity continue to be the provision of charitable activities. The objects of the trust ("the objects") are:

Provision in overseas countries of funding to provide a fully -equipped diagnostic centre with fully equipped radiological, sonographic, medical laboratory and mammographic facilities for optimum diagnosis of diseases and pathologies.
Provision in the UK and Overseas of finance to raise awareness on recognising the early signs of stroke, Prevention and the impact of strokes.
Provision of financial support to charities whose objects are the advancement of health or the saving of lives.

THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:

Since the Charity is in its sprouting stage and needs raising sufficient fund, much financial commitments were not made during this period.

We used our website and other modes of advertising to reach out to people, other charities and funding groups during this period.

DRIVE DIAGNOSTICS AID (DDA)

REPORT OF THE TRUSTEES (Continued)

FOR THE YEAR ENDED 30 September 2022

PLANS FOR THE FUTURE

We intend to continue to promote human rights worldwide with special emphases in South Asia.

INCOME GENERATION

The charity was able to raise £10,100 from commencement till 30[th] September 2022. This was raised within the efforts of the trustees and via a grant from a funding organisation.

Hopefully, we hope to do better in the following year by soliciting supports from non-trustees

RISKS

The factors that may affect the Charity’s delivery of its objectives include:

a) Reputation of Charity and the relationship with the community.
b) Ability to generate enough funds to successfully complete the identified projects for the charity.

DRIVE DIAGNOSTICS AID (DDA)produces an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down to a work plan. DRIVE DIAGNOSTICS AID (DDA)has developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators.

RESERVES POLICY

The Charity aims to build reserve which will enable it to meet its average annual operational need. The Trustees review the reserves held by the Charity on a regular basis to ensure that an appropriate level of funds is held to meet the above policy of the Charity going forward.

DRIVE DIAGNOSTICS AID (DDA)

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 30 September 2022

Governance and internal control

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At 30 September 2022, the Board had a membership of four people.

The Board meets quarterly a year to agree key policy decisions, set the strategy for the charity and oversee its performance. At present the Board has committee members who are responsible for the day-to-day activities of the charity. None of the committee members is being remunerated.

All Trustees receive the handbook for Trustees provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this the Charity follows the code of practice for governance produced by the Governance Hub.

Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

A strategic plan and annual budget approved by the Trustees;
Regular consideration by the Trustees of financial results, in particular variance from budget; and
Delegation of authority and segregation of duties.

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 1993 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

DRIVE DIAGNOSTICS AID (DDA)

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 30 September 2022

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 1993 as amended, the trust decided to appoint an examiner, which will review the accounts for the year ended 30 September 2022. In accordance with this appointment, AACSL Accountants Limited was appointed as examiner.

Approved by the Board of Trustees and signed on behalf of the Board by:

DR CHYKE OHUEGBE ON BEHALF OF THE TRUST .

Trustee 27 April 2023

Independent Examiner’s Report to the Trustees of DRIVE DIAGNOSTICS AID (DDA)

I report to the trustees on my examination of the accounts of the DRIVE DIAGNOSTICS AID (DDA)Trust for the year ended 30 September 2022, which are set out on pages 9 to 13.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
The accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

27 April 2023

DRIVE DIAGNOSTICS AID (DDA) STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) for the year ended 30 September 2022

Notes INCOMING RESOURCES Donations, Legacies and similar incoming resources TOTAL INCOMING RESOURCES 2 RESOURCES EXPENDED Cost of generating funds: Cost of generating voluntary Income Charitable Activities: Community Projects /Other Resources Expended Governance TOTAL RESOURCES EXPENDED 3 Net income/(expenditure) Funds brought forward Net movement in funds and funds balance carried forward as at 30 September 2022	Un-restricted funds 2022 £ - - - 63.00 63.00 63 - 1,400 1,337	Restricted Funds 2022 £	Total Funds Total Funds 2022 2021 £ £ - -
		-	- -
		- -	- 3,892.02 - - - - - - - - - - 63.00 100.00 - -
		-	63.00 3,992.02
		-	63 - 3,992 - - - 1,400 5,392 - -
		-	1,337 1,400

DRIVE DIAGNOSTICS AID (DDA) Balance Sheet as at 30 September 2022

Notes FIXED ASSETS Equipment at cost Accumulated depreciation TOTAL FIXED ASSETS 5 CURRENT ASSETS Debtors and accrued income Cash at bank and in hand CREDITORS: amount falling due within one year 6 Net Current assets/(Liabilities) TOTAL ASSETS LESS CURRENT LIABILITIES FINANCED BY: Unrestricted funds Restricted Funds TOTAL FUNDS 7	2022 Total £ - - - 1,500 1,500 (163) 1,337 1,337 1,337 - 1,337	2021 Total £
		-
		- 1,500
		1,500
		(100)
		1,400

		1,400
		1,400 -
		1,400

For the year ending 30 September 2022, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by:

DR CHYKE OHUEGBE Trustee 27 April 2023

DRIVE DIAGNOSTICS AID (DDA) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 September 2022

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards.

Cash flow statement

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds that the charity is below the threshold specified in Appendix 2 of the FRS1.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in Note 2.

Investment income and gains are allocated to the appropriate fund.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Premises overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count.

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note 3.

DRIVE DIAGNOSTICS AID (DDA) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 September 2022

Note 2. TOTAL INCOMING RESOURCES

Voluntary Income Un-restricted: Donations, Legacies and similar incoming resources Restricted: Other direct Collections	2022 - -
	-

Note 3. TOTAL RESOURCES EXPENDED Direct Support 2022 Costs Costs Total £ £ £ Cost of generating funds - Charitable Costs - - - Governance Costs 63 63 63 - 63 The trust allocates all costs as shown in the table above. Costs are allocated between direct costs and support costs based on the actual expenditure and nature of transactions. Operating Surplus is after charging: 2022 £ Accountancy, Taxation and other Services 63 63 Note 4. TRUSTEES REMUNERATION The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2020: £nil) Note 5. CREDITORS: amount falling due within one year 2022 This is made up as follows: £ Other Creditors 163 Legal Costs 163 Note 6. Total Funds 2022 £ Reserve brought Forward - Surplus/(Defict) for the year 1,337 1,337	Direct Support Costs Costs £ £ - - 63	2022 Total £ - - 63
	63 -	63
		costs and support costs 2022 £ 63
		63
		163
		2022 £ - 1,337
		1,337

Note 7. TAXATION

DRIVE DIAGNOSTICS AID (DDA)is a registered charity and is thus exempt from taxation of its income and gains falling within Section 505 of the Income and Corporation Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year.