**FRUGAL EMPOWERMENT FOUNDATION Co Reg No 1185459** ## **ANNUAL REPORT & ACCOUNTS** **FOR THE YEAR ENDED 28 FEBRUARY 2022** 1 ## **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| 2 ## **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 3 ## **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)** 4 ## **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 5 ## **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**| |---|---| 6 ## **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|||| 7 ## **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**| |---|---| 8