## **ISASI FOUNDATION** ## **REPORTS AND FINANCIAL STATEMENTS** **07 February 2024** ## ISASI FOUNDATION ## FINANCIAL STATEMENTS For The Year Ended 07 February 2024 CONTENTS Page Legal and Administrative Details 1 Management Committee’s Report 2 - 3 Independent Examiners Report 4 Income and Expenditure Account 5 ISASI FOUNDATION CHARITY INFORMATION 07 February 2024 **Status** Registered Charity (CIO) **Charity Number** 1189229 **Registered office and operational area** 3 St. Francis Close ROCHESTER Kent ME2 2GR **Honorary Officers** Noelle Isasi Bibiche Nsiala Biyaka Richard Mutani **Accountants** Novelty Business Solution Suite 124, Island Business Centre Woolwich, London SE18 6PF ## ISASI FOUNDATION MANAGEMENT COMMITTEE’S REPORT 07 February 2024 The management committee presents its report and the independently examined financial statement for the year ended 07 February 2024 ## **Activities and Review** The main activities of Isasi Foundation are: - Providing support for people in need. - Providing household essentials and food items to beneficiaries who are struggling. ## **Organisation** Isasi Foundation is a charitable organisation registered with the charity commission, whose management committee are trustees of the charity. Sub-committees, including a recruitment sub-committee and a finance and general-purpose committee, have been formed. ## **Background** Isasi Foundation is a charity organisation registered in England and Wales since 27 April 2020. Isasi Foundation was created as a charity for members of the community in England and Nigeria, who are facing employment issues and other challenges in relation to seeking employment. Its aims are to benefit all members of the community who are facing unemployment issues or financial hardships across all London Boroughs. ## ISASI FOUNDATION MANAGEMENT COMMITTEE’S REPORT 07 February 2024 Isasi Foundation trustees are aware of their obligation to make a statement in respect of the management for risks faced by Isasi Foundation. The trustees have appointed Novelty Business Solution as providers of consultancy services, and to advise on the development of a structures approach to risk management. This will promote greater recognition of risk management at all levels within Isasi Foundation. The trustees, operating through sub-committees, have identified and assessed many risks and have taken action to control or mitigate them. ## **Reserves and Investments** It is the trustee’s policy that Isasi Foundation should aim to hold general fund cash reserves of 15% of annual turnover. ## **Members of the Management Committee** The following served as charity trustees during the year and up to the date of this report: Noelle Isasi Bibiche Nsiala Biyaka Management Committee members have no beneficial interest in the charity and are not remunerated. ## **Accountants** NBS Charity Consultants were appointed at the Annual General Meeting and have expressed their willingness to continue as independent examiners. ## ISASI FOUNDATION ## Report of the Accountant’s to the Members of ISASI FOUNDATION We report on the accounts of Isasi Foundation for the year ended 07 February 2024. ## **Respective responsibilities of Management Committee and accountants** As the charity’s trustees, you are responsible for the preparation of the accounts as set out on page 2 of the financial statements. ## **Basis of Independent Examiners Report** Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison consideration of any usual items or disclosures in the accounts, allied to the seeking from you trustees explanations concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, we do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** In connection with our examination, no matters have come to our attention: - 1) Which gives us reasonable cause to believe that in any material respect the requirements - a) To keep accounting records in accordance with section 41 of the Act; and - b) To prepare accounts which accord with the accounting records and comply with accounting requirements of the Act have not been met. 2) To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **ISASI FOUNDATION Accounts for the Period** _08 February 2023 to 07 February 2024_ ## **Description** ## **Funds 2023 (£)** ## **Funds 2024 (£)** |**INCOME**||| |---|---|---| |General Donations|£1,500|£800| |**EXPENDITURE**||| |Administrative Cost|£280|£70| |Volunteer Expenses|£50|£0| |Other Travel & Subsistence|£130|£80| |Evaluation|£0.00|£0.00| |Household Essentials for Distribution|£890|£630| |Website Development and Hosting|£0.00|£0.00| |**Total Expenditure**|**£1,350**|**£780**| |**Surplus for the Year**|**£150**|**£20**| ## **Approved by the Trustee** Signature: _______________________ Date: _______________________