## **T & B INITIATIVE** **Charity No 1186141** **Financial Statements For the year ended 30 November 2022** |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 2022** The Trustees submit their annual report and the Financial statement of T & B Initiative for the year ended 30th November 2022. 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 third year by securing fund through donations. The project was a little slow due to lack of funding, we planned to work harder next year to be able to secure more funding to reach out to the community at large. We were able reach out and support the less privilege, homeless and widows in Greenwich and other London Boroughs, this was achieved by the help of volunteers and donation received. ## **Financial Review** The Charity has been able to secure donations to enable it to meet its objectives. The Charity had income for the year £580 and expenditure £402 ## **Future Plan** The sustained growth for T & B Initiative will be achieved by the continuation of the activities outlined in the organisation objectives. The Trustees is working towards keeping reserve for contingencies and urgent needs in case of sudden withdrawal of funding. 1 ## **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 2022: 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 2 ## _Independent Examiners Report to the Members of_ ## **T & B INITIATIVES** I report on the attached Financial Statement for the year ended 30[th] November 2022, 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 - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5) of the Charities Act and - 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 - 1) Which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Charities Act: and - -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; FCCA**_ 30/08/2023 3 ## **T & B INITIATIVE Statement of Financial Activities For the year ended 30 November 2022** |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**|**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Total
Total
Funds
Funds
**£**
**£**
**£**
£
-
-
-
10,000
580
-
580
486| |---|---| ||580
-
580
10,486| ||202
-
202
10,081
200
-
200
400| ||402
-
402
10,481| ||178
-
178
5
(366)
-
(366)
(371)| ||(188)
-
(188)
(366)| 4 T & B INITIATIVE Balance Sheet as at 30 November 2022 Notss 2022 2021 Fixed A&sets Tangible Assels urrent Assets Cd%h at BJnk Total Current Assets 12 34 urr nt Liabllitles CNdii(>r% Jiiii)unr I'allinb due within one year Net CvTrent A￿lets 2￿ 11881 4(K TotAI Net Assets 13661 Reserv Unrestricied Funds Restricicd Funds Total Reserves (188) 1366) 11881 13661 This financial stalernents are approved on behalf of the Trustees by.. Taiwo 08undoju Ichair)...... Dale.. Ganiyu Oluwasola Kazeem (Tntst 29Jo%12023 ## **T & B INITIATIVE** **Notes to the Financial Activities** **For the year ended 30 November 2022** ## **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 6 ## **T & B INITIATIVE** ## **Statement of Financial Activities** **For the year ended 30 November 2022** ## **2. Income from Charitable Actvities** |**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
Volunteer
Refreshments
Sundry Expenses
**Total**|**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
-
-
-
10,000| |---|---| ||-
-
-
10,000| ||**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
**£**
580
-
580
486| ||580
-
580
486| ||**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
**£**
146
-
146
8,970
-
-
-
-
-
-
-
30
44
-
44
650
-
-
-
200
-
-
-
-
5
5
-
-
-
-
200
7
-
7
30| ||202
-
202
10,081| 7 ## **T & B INITIATIVE** **Statement of Financial Activities For the year ended 30 November 2022** ## **5. Support & Governance Cost** ||| |---|---| |**5. Support & Governance Cost**
Accountancy fee
**6. Creditors & Accurals**
Accountancy fee|**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
**£**
200
-
200
400| ||200
-
200
400| ||**2022**
**2022**
**2022**
**2021**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
200
-
200
400| ||200
-
200
400| 8