T & B INITIATIVE Charity No 1186141
Financial Statements For the year ended 30 November 2021
| Contents | Page No |
|---|---|
| Trustees' Report | 1-2 |
| Independent Examiners' Report | 3 |
| Statement of Financial Acivities | 4 |
| Balance Sheet | 5 |
| Notes | 6-8 |
T & B INITIATIVE
Trustees’ Annual Report For the year ended 30[th] November 2021
The Trustees submit their annual report and the Financial statement of T & B Initiative for the year ended 31st November 2021. The trustees confirm that the annual report and financial statement comply with the provisions of the Statement of Recommended Practice (SORP), Accounting and Reporting by Charities (revised 2015).
Objectives and activities
T & B Initiative aims and objectives is to support the less privilege, homeless, widows and needy. To promote independence and social integration for homeless and vulnerable people through distribution of cloths, foods, educational materials and general humanitarian assistance. Our aim is to impact lives and make the community and society at large be a better place.
Achievement and performance
T & B Initiative continued the project for the second year by securing fund from Big Lottery Community Fund and donations. 2021 was not an easy year for the homeless and less privilege in the society at large
We deliver a successful project during the pandemic, and we have continued to reach out and support the less privilege, homeless and Widows in Greenwich and other London Boroughs, this was achieved by the help of funders and volunteers.
Financial Review
The Charity has been able to secure funding to enable it to meet its objectives. The charity had income for the year £10,486 and expenditure of £10,481.
Future Plan
The sustained growth for T & B Initiative will be achieved by the continuation of the activities outlined in the organisation objective. The Trustees plan to keep reserve for contingencies and urgent needs in case of sudden withdrawal of funding.
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External risk
The significant external risk is that of funding. The Trustees has planned to develop a reserve policy to address any sudden withdrawal of core funding.
Reference and Administrative Information
Trustees
The trustees who serve during the year ended 30[th] November 2021:
| Taiwo Ogundoju (Chair) | |
|---|---|
| Sunday Oyewo | |
| Ganiyu Oluwasola Kazeem | |
| Principal Office: |
32c Charlton Road |
| London | |
| SE3 8TY | |
| Banker: |
Barclays Bank |
| 8 - 9 Victory Parade | |
| Plumstead Road | |
| London | |
| SE18 6FL | |
| Independent Examiner: |
Jofetrise Consulting Limited |
| 60 Oval Road | |
| Dagenham | |
| RM10 9EL |
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Independent Examiners Report to the Members of
T & B INITIATIVES
I report on the attached Financial Statement for the year ended 31st November 2021, which are set on pages 4 – 8 and have been prepared on accrual basis.
Respective Responsibilities of Management Committee and Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5) of the Charities Act and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes 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 no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement:
In connection with my examination, no matter has come to my attention
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1) Which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act: and
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-to prepare accounts which accord with the accounting records and comply with the
accounting requirement of the Charities Act have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
John Ogunesan ACA;FFA/FPA; ACCA
… …14/02/22(signed&dated) Jofetrise Consulting Limited Accountants& Tax Consultant 60 Oval Road North, Dagenham Essex, RM10 9EL
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T & B INITIATIVE
Statement of Financial Activities For the year ended 30 November 2021
| Notes Income Income from Charitable Activities 2 Donation / Other Income 3 Total Income Expenditure Expenditure on Charitable Activities 4 Governance Costs 5 Total Expenditure Net Income / (Expenditure) Total Funds Brought Forward Total Funds Carried Forward |
2021 2021 2021 2020 Unrestricted Restricted Total Total Funds Funds £ £ £ £ - 10,000 10,000 10,000 486 - 486 239 |
|---|---|
| 486 10,000 10,486 10,239 |
|
| 81 10,000 10,081 10,211 400 - 400 400 |
|
| 481 10,000 10,481 10,611 |
|
| 5 - 5 (371) - - (371) - |
|
| 5 - (366) (371) |
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T & B INITIATIVE Balance Sheet as at 30 November 2021 Notes 2020 Flied Assets Tangtble Assets Current Assets Cash at BaDk Totsl Current Assets 29 29 Current Li#bilities Creditors faI]mgdlth1ti or* yr4r Net Current A&%ets (366) (371) Total Net Aets (366) (371) ReyerYe5 and Funds unreSttied Futtd¥ Restficted Funds Total Reserves (366) {371) (366) (371) Taiwo Ogundoju (Chair)....... IzIoi12 Gatiiyu Oluwawla Kgz¢¢m (Trustee} .
T & B INITIATIVE
Notes to the Financial Activities For the year ended 30 November 2021
1. Accounting Policies
a) This financial statement have been prepared under the historical cost convention, in accordance with FRS 102 and following the Statement of Recommended Practice (SORP 2015) and applicable with Charities Act 2011.
b) Fund Accounts
Restricted Funds are subjects to restrictions on their expenditure by the Funder. All Unrestricted Funds are received from donation and interest received.
c) Income
All incomimg resources are included in the Statement of Financial Activities which are received during the year
d) Expenditure
All resources are recognised in the year in which they are incurred.
e) Tangible Fixed Assets
Items of equipment and other tangible fixed assets are capitalised where the cost is £100 or more. Depreciation is calculated in straight line method at the rate of 25% on Fixed Assets and Computers at 33.33% per annum on cost which is spread over the assets useful lives.
f) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice
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T & B INITIATIVE
Statement of Financial Activities For the year ended 30 November 2021
| 2. Income from Charitable Actvities Big Lottery Community Fund Total 3. Other Income Donation Total 4. Expenditure on Charitable Activities Project costs Charity Donation Postage, Printing & Stationery Travel Protective Equipment Bank Charges Refreshments Sundry Expenses Total |
2021 2021 2021 2020 Unrestricted Restricted Funds Funds Total Total £ £ £ - 10,000 10,000 10,000 |
|---|---|
| - 10,000 10,000 10,000 |
|
| 2021 2021 2021 2020 Unrestricted Restricted Funds Funds Total Total £ £ £ £ 486 - 486 239 |
|
| 486 - 486 239 |
|
| 2021 2021 2021 2020 Unrestricted Restricted Funds Funds Total Total £ £ £ £ 20.00 8,950 8,970 9,000 - - - 86 30 - 30 15 - 650 650 500 - 200 200 500 - - - 0 - 200 200 57 30 - 30 52 |
|
| 81 10,000 10,081 10,211 |
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T & B INITIATIVE
Statement of Financial Activities For the year ended 30 November 2021
5. Support & Governance Cost
Accountancy fee
| 2021 | 2021 | 2021 | 2020 |
|---|---|---|---|
| Unrestricted | Restricted | ||
| Funds | Funds | Total | Total |
| £ | £ | £ | £ |
| 400 | - | 400 | 400 |
| 400 | - | 400 | 400 |
6. Creditors & Accurals
Accountancy fee
| 2021 | 2021 | 2021 | 2020 |
|---|---|---|---|
| Unrestricted | Restricted | ||
| Funds | Funds | Total | Total |
| £ | £ | £ | |
| 400 | - | 400 | 400 |
| 400 | - | 400 | 400 |
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