## **T & B INITIATIVE**
**Charity No 1186141**
**Financial Statements For the year ended 31st March 2025**
|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 31[st] March 2025**
The Trustees submit their annual report and the Financial Statement of T & B Initiative for the year ended 31[st] March 2025. 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 fifth year by securing funds through donations and The National Lottery Community Fund and Arnold Clark. The funds and donations were used to support food deprivation and food Insecurity.
We were able to reach out to people who are experiencing food deprivation and food in securities in from different cultures in Greenwich and other London Boroughs, this was achieved by the help of volunteers, donations received and The National Lottery Community Fund.
## **Financial Review**
The Charity has been able to secure donations and funds from The National Lottery Community and Armold Clark to enable it to meet its objectives. The Charity had income for the year of £19,710 and expenditure £19,416.
## **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 2025:
Taiwo Ogundoju (Chair) Sunday Oyewo Ganiyu Oluwasola Kazeem **Principal Office:** 14 Kidd Place London SE7 8HG **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 2025, 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.
_16/12/2025_
## _**John Ogunesan ACA; FFA/FPA; FCCA**_
_Jofetrise Consulting Limited Accountants& Tax Consultant 60 Oval Road North, Dagenham Essex, RM10 9EL_
3
## **T & B INITIATIVE Statement of Financial Activities For the year ended 31st March 2025**
|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**|**2025**
**2025**
**2025**
**2023/24**
Unrestricted
Restricted
Total
Total
Funds
Funds
**£**
**£**
**£**
£
-
16,922
16,922
12,000
2,788
-
2,788
712|
|---|---|
||2,788
16,922
19,710
12,712|
||5
19,211
19,216
9,995
200
-
200
200|
||205
19,211
19416
10,195|
||2583
(2289)
294
2,518
2,330
-
2,330
(188)|
||4913
(2289)
2624
2,330|
4
##
##
||`Notes`|`2025`|`2023/24`|
|---|---|---|---|
|||`£`|`£`|
|`Fixed Assets`||||
|`Tangible Assets`||||
|`Current Assets`
`Cash at Bank/Hand`||`2,624`|`2,330`|
|`Total Current Assets`||`2.624`|`2,330`|
|`Current Liabilities`||||
|`Creditors amount falling due within one year`|`6`|||
|`Net Current Assets`||`2,624`|`2,330`|
|`Total Net Assets`||`2624`|`2330`|
|`Reserves and Funds`||||
|`Unrestricted Funds`||`2,624`|`20`|
|`Restricted Funds`|||`2,310`|
|`Total Reserves`||`2624`|`2330`|
|`This financial statements are approved on `|`behalf of the Trustees by:`|||
|`Taiwo Ogundoju (Chair).`|`Date `|`15-12-2025`||
## **T & B INITIATIVE**
**Notes to the Financial Activities**
**For the year ended 31st March 2025**
## **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 31st March 2025**
## **2. Income from Charitable Actvities**
|**2. Income from Charitable Actvities**
The National Lottery Community Fund
Arnold Clark
**Total**
**3. Other Income**
Donation
**Total**
**4. Expenditure on Charitable Activities**
Project Costs
Charity Donation
Postage, Printing & Stationery
Project Packaging / Delivery Costs
Project Distribution Centre Rate
Telephone
Training Costs
Bank Charges
Volunteer Costs
Monitoring & Evaluation Costs
Consultancy Fee
Refreshment
Sundry Expenses
**Total**|**2025**
**2025**
**2025**
**2023/24**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
-
15,922
15,922
12,000
1,000
1,000|
|---|---|
||-
16,922
16,922
12,000|
||**2025**
**2025**
**2025**
**2023/24**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
**£**
2,788
-
2,788
712|
||2,788
-
2,788
712|
||**2025**
**2025**
**2025**
**2023/24**
Unrestricted
Restricted
Funds
Funds
Total
Total
**£**
**£**
**£**
**£**
-
11,989
11,989
7,290
-
-
-
-
-
720
720
500
-
1,400
1,400
800
-
1,800
1,800
-
-
60
60
-
-
-
-
750
-
-
-
-
-
3,242
3,242
400
-
-
-
250
-
-
-
-
-
-
-
-
5
-
5
5|
||5
19,211
19,216
9,995|
7
## **T & B INITIATIVE**
**Statement of Financial Activities For the year ended 31st March 2025**
## **5. Support & Governance Cost**
Accountancy fee
## **6. Creditors & Accurals**
Accountancy fee
|**2025**|**2025**|**2025**|**2023/24**|
|---|---|---|---|
|Unrestricted|Restricted|||
|Funds|Funds|Total|Total|
|**£**|**£**|**£**|**£**|
|200|-|200|200|
|200|-|200|200|
|**2023/24**|**2023/24**|**2023/24**|**2022**|
|Unrestricted|Restricted|||
|Funds|Funds|Total|Total|
|**£**|**£**|**£**||
|-|-|-|-|
|-|-|-|-|
8