T & B INITIATIVE Charity No 1186141 Financial Statements For the year ended 31st March 2024 Conlenfs Pa8e No Truylees, Report Independent Exmminers, Report Stlltemenl of Finyncial A¢ivities Bal4nce Sheet Notes ## **T & B INITIATIVE** ## **Trustees’ Annual Report For the year ended 31[st] March 2024** The Trustees submit their annual report and the Financial Statement of T & B Initiative for the year ended 31[st] March 2024. The trustees confirm that the annual report and financial statement comply with the provision of the Statement of Recommended Practice (SORP), Accounting and Reporting by Charities (revised 2015). ## **Objectives and activities** T & B Initiative aims and objectives are to support the less privileged, homeless, widows and needy. To promote independence and social integration for homeless and vulnerable people through distribution of clothes, food, educational materials and general humanitarian assistance. Our aim is to impact lives and make the community and society at large a better place. ## **Achievement and performance** T & B Initiative continued the project for the fourth year by securing funds through donations and The National Lottery Community Fund. The funds from The National Lottery were used to support the community cost of living. We were able to reach out to people with low cost of living, the less privilege, homeless and widows in Greenwich and other London Boroughs, this was achieved by the help of volunteers, donation received and The National Lottery Community Fund. ## **Financial Review** The Charity has been able to secure donations and The National Lottery Community funds to enable it to meet its objectives. The Charity had income for the year £12,712 and expenditure £10,195. ## **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 are 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 31[st] March 2024: Taiwo Ogundoju (Chair) Sunday Oyewo Ganiyu Oluwasola Kazeem **Principal Office:** 32c Charlton Road London SE3 8TY **Banker:** NATWEST BANK 65 Peckham High Street London SE15 5RZ **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 31[st] March 2024, 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; ACCA**_ _… ……….……(signed&dated) 31/12/2024 Jofetrise Consulting Limited Accountants& Tax Consultant 60 Oval Road North, Dagenham Essex, RM10 9EL_ 3 T & B INITIATIVE StatemeDt of Financial Activities For the year ended 31st March 2024 2023124 2023124 Unreslricied Restricted Funds Funds 202312A '1,0￿1 2022 Total Noies lTheome Income from Chthritable Activities Donatioii l Other Income Tvtsl Income 12.IXXJ 12.000 712 12.712 712 712 580 580 12.000 L,xpenditure on Chariiable A¢uviiies GuvernunLe Costs Total Expendlture Net Income I IF.xpenditUTe) Totiil Fundq Bi'oiighi Forword Total Funds L&rrled Forward 9.990 9.995 200 10195 2,518 (188) 2330 2(ft 200 2(K> 205 507 (188) 319 9,990 2010 178 1306) 1188) 2010 T & B INITIATIVE Balance Sheet as at 31st March 2024 Note8 2023n4 2022 se Tan8ibl¢ Assets Je Cash at BanklHand TolAI Currcnt Assets 2,330 2J30 12 12 ur l Li*blllde Ciedilor5 amouni fallin8 dut within onB year Net Current Aysets 200 188 2.330 TolAI Net Assets 2330 188 erv¢ lid Uttrestricted Funds Re51ricled Funds lolal Reyerves 2.330 1188) 2330 1188) This finan¢i8i 51atements are approv¢d on behaifof the TTUStees by.. Taiwo 08undoju Ichair)........ Lkte... sdiLI &0 g-¢ 11g-IVS+ Ganryu Oluwasola Kazeem {Tr￿stee} .... yDate...... T & B INITIATIVE Notss to the Flnancial Aetivltles For ihe year end￿ 318t March 2024 l. Aecow)tlng Pollcies a) This fin8n¢i&l stalernent have been prepored under the historical cost Convention, in accordance with FRS 102 4nd following the Statement of Recommended Prnctice (SORP 2015) and applicable with ChArities Act 2011. b) Fund Accounts Re8tri¢ied Funds are subjects io Trstriciions on iheir expendiiure by the Funder. All U￿r￿tricted Funds are received from donalion and interest received. c) InLY)me All incomiing resources are included in the State￿￿ni of Financial Activities which aR le￿Ived during the ye￿. d) Expendlture All resoui'ces recognised in lhe year in which they mre incurRd. e) TAngible FlxL&d A98ets Itemb of equipment und oiher I￿gIble fixed asse￿ 8Te c4pitslised where the cost is £llJ) or mott, Depr¥ciotion is calculated in 5ttaight line method at the rate of 25% on Fixed A.ssets and Computer% At 33.33% per &nnum on cost which is spreAd over the a5seis useful lives. D Allocatlon of 5UPPQrt ond governance costs Support C031S aw thosc functions thiit a55i51 the worfl of the chuily but do not dire¢ily undertake Charitable Hctivities. Goveriillnce ¢0sts comprise All costs involving the public accountability of the charity and it8 complitmce with rc8ulalion and 8(KwJ prnctice T & B INITIATIVE S¢4t¢ment of Flnancial Aetivities For the year ended 31st March 2024 2. Incotne from Charlthble Actvlties 202J124 2023124 Unrestyieted ResirActed Funds Funds 2023124 2022 Total Total The Nulionai Lottery Community F*und 12.(KM) 12.(XM) 12,(XY) 12,WO 3. Other Income 2023124 2023n4 Unre5U'ici¢d Res(ri¥ted Funds Funds 21)23124 2022 Tol&1 Tollll Donation Tol&l 712 712 712 712 580 580 4. Expendltsre on Chgrlt*ble Acllvllles 2023r24 2017124 Unresiricled Restricled Funds 2023124 2022 Total Total Pruject Costs Churity Doniiiion Postage, Printing & Staiionery Trnvel I Project Delivery Costs Training Cos Bank Churges Volunteer Monitoring & Evaluation Costs .8undry EX￿n$¢8 To¢41 7,25XI 7.290 146 5(Ki 8(K) 750 750 400 250 250 9.990 9.995 202 T & B INITIATIVE Statejnent of FIn8ne1￿ Activlties For the yeor ended 31s¢ Marth 2024 5. Suppori & G0Ven￿nCe C￿¢ 2013124 2O23 UDresuicted Restricted Funds Funds 2013124 2022 Towl Total 2(K> 200 200 21x1 200 200 A¢countan¢y fee 6. Credltor8 & AceuTalB 2023124 2023124 Unrestricted Rvsiricted Funds Funds 2023124 2022 Total Toiol A￿O￿n11￿CY fee 200