FRUGAL EMPOWERMENT FOUNDATION Co Reg No 1185459
ANNUAL REPORT & ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2022
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS TABLE OF CONTENTS
| Content | Page |
|---|---|
| List of items | 2 |
| Charity information | 3 |
| Trustees’ report | 4 |
| Accountants’ report | 5 |
| Statement of incoming resources | 6 |
| Balance sheet | 7 |
| Audit exemption statement | 7 |
| Notes to the accounts | 8 |
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS CHARITY INFORMATION
Charity Number 1185459
Registered Address
4[th] Floor 18 St Cross Street London EC1N 8UN
Trustees
Peisensigiere Tzavelakou Ademola Ajayi Peter Osezua (Secretary)
Independent Examiners
Dataspread Resources 44 Plumstead High Street London SE18 1SL
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS TRUSTEES’ REPORT
The trustees hereby present their report and the accounts for the financial year ending 28 February 2022.
Principal activity
Frugal Empowerment Foundation is building on community work in Greenwich, its project is centered on supporting young people to develop their musical talents, low income families. Supporting the elderly the through entertainment to ease or relief them from a state of loneliness, isolation. The charity is a non-trading entity.
Status
The status of the charity for the year ended 28 February 2022is non-trading.
TRUSTEES
During the year ended 31 December 2016, the following persons served as trustees of the charity –
Peisensigiere Tzavelakou Ademola Ajayi Peter Osezua (Secretary)
Financial results
The statements of income report for the year ended 28 February 2022 and the financial position as at that date are as stated on pages 3 to 5 of this report and accounts.
Going concern status
The trustees are assured that the charity, having met registration requirements under the Companies Act 2006 and pursuant to the objectives stated in its registration documents, intends to, and will continue as a going concern.
Responsibility
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Peisensigiere Tzavelakou
____ Peisensigiere Tzavelakou (Trustee)
Peter Oseaua
_______ Peter Osezua (Secretary)
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS FOR YEAR ENDED 31 DEC 2016 ACCOUNTANTS’ REPORT
The accountants have carried out their examination and review of the financial records, documents and schedules of the financial transactions and activities of Frugal Empowerment Foundation for the year ended 28 February 2022.
The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records, maintaining adequate books and records as well as the preparing the accounts.
The accounts, which have been prepared under the historical cost convention, are in accordance with the provisions applicable to Companies subject to the small companies.
In accordance with the mandate given by the trustees of Frugal Empowerment Foundation, the independent examiners have carried out a review of the records, but have not carried out an audit, the trustees being confident that the charity having met the relevant sections of the Act, is exempt from an audit.
The independent examiners have not carried out an audit and therefore do not express any opinion on the accounts.
Dataspread Resources
12 March 2022
Dataspread Resources
3 North Road London SE18 1BS
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS STATEMENT OF INCOMING RESOURCES FOR THE YEAR ENDED 28 FEBRUARY 2022
Income Other Income Gross Incoming resources Administrative Expenses Excess /(Deficit) of income on expenditure Finance charges Excess /(Deficit) Excess /(Deficit) for the year Excess /(Deficit) brought forward Excess /(Deficit) carried forward |
Note£ 1 87,860 2 120 87,980 3 54,260 33,720 4 155 33,565 33,565 1,101 ___ 34,666 |
|---|---|
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS BALANCE SHEET AS AT 28 FEBRUARY 2022
| Note | £ | £ | |
|---|---|---|---|
| Fixed Assets | |||
| Furniture & Fittings | 4,890 | ||
| Computer & Information System | 6,585 | ||
| Other Fixed Assets | 3,520 | ||
| 14,995 | |||
| Current Assets | |||
| Receivables | 5 | 6,840 | |
| Bank Balances | 6 | 42,560 | |
| 49,400 | |||
| Current Liabilities | |||
| Payables | 7 | 35,840 | |
| Other Accruals | 5,730 | ||
| 41,570 | |||
| Net Current Assets | 7,830 | ||
| Unrestricted Funds | 8 | 22,825 | |
| Peisensigiere Tzavelakou | Peter Oseaua | ||
| ___ | _______ | ||
| Peisensigiere Tzavelakou | Peter Osezua | ||
| (Trustee) | (Secretary) | ||
| Approved by the board on _15_March, 2022 |
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FRUGAL EMPOWERMENT FOUNDATION REPORT & ACCOUNTS NOTES TO THE ACCOUNTS
1. Incoming Resources
Incoming resources include donations received from events –donations and pledges.
2. Other Income
Other income represents interest received on credit bank account balances.
3. Administrative Expenses
Administrative expenses include –
| Events planning & hosting Office expenses Professional fees Transport & traveling Other sundry expenses Total |
£ 18,680 11,750 5,830 8,270 9,730 54,260 |
|---|---|
4. Finance charges
This pertains to bank commissions and charges.
5. Receivables
This represents payments for service providers and office consumable yet to be consumed.
6. Bank Balances
This represents amounts standing to the credit of the operating bank accounts as at 28 February 2022.
7. Payables
This represents amounts due (within the next twelve months) to third parties for services or benefits consumed for which payment is outstanding as at 28 February 2022.
8. Unrestricted Funds £
| Excess /(Deficit) for the year Excess /(Deficit) brought forward Excess /(Deficit) carried forward |
33,565 1,101 ______ 34,666 |
|---|---|
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