2022-11-01-accounts - Lss UK Foundation

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LSS UK FOUNDATION

Annual Report 2021 to 2022

Table of contents:	Page no.
Donations to school	2
Challenges and recommendations	4
Future plans	4
Structure, Governance and Management	5
Statement of trustees Responsibilities	6

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Donations to Schools

1. Donation of school to Jabisa Lower and Upper Basic School, Gambia

The Trustees collected 200 pairs of shoes in 2021/22 final year. The shoes where donated to primary Schools in Gambia. The items where shipped from the UK and collected by a volunteer in Gambia. He took the items to the school in Gambia and handed them to the School Principals. The Principals and staff distributed the shoes among the school children. Below is selection of some of the pupil with their new shoes.

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Challenges and Recommendations:

As most charitable organizations, LSS UK Foundation is mainly reliant on donations from individuals and other charitable organizations in pursuant of its charitable goals. Therefore, expanding and sustaining its development activities is a huge challenge. To deliver on it’s purpose the organization continues to need time and resources which are better supported by the availability of funds. The Association should therefore explore alternative ways of generating funds. It should start by opening bank account.

Future Plans:

Supporting children with their Education


Activity/Project	Expected output	Period	Resources
School Shoes	Deliver 200 Shoes	Nov 2023 to Oct 2024	Times to make shoe collections, raise funds for transport, bank account to manage funds
Provide Books to read for Pupil	Give pupil options to read and find the joy in reading by trying different materials	Nov 2023 to Oct 2024	Library, funds and bank account

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FINANCIAL REVIEW

The accounts declared in this report have been prepared in accordance with Statement of Recommended Practice: Accounting for Charities (SORP 2015) and with relevant companies and charities legislation and regulations. The Statement of Financial Activities shows LSS UK Foundation income from all sources and how this was expended, and the split of activity between restricted and unrestricted funds.

The charity’s income was £0 for the year ended 20[th] Nov 2021. The charity was able to operate without the need for funds from the charity itself. The Trustees use their time and that of the donations of shoes from the public to deliver the purpose of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution and Organisational Structure:

The organisation is a charity incorporated organisation. It was registered as a charity on 20 November 2020. LSS UK Foundation was established by Memorandum and Articles of Association which describes the objects and powers of the charitable company; it is governed under its Articles of Association. Under those Articles, the trustees are appointed at the Annual General Meeting. Trustee have ultimate responsibility for the running of the charity. The Trustee rely on the time and resource of volunteers to assist in the delivering of the purpose of the charity. There are no employees of the charity.

Governance and Decision-Making:

The Board of Trustees govern LSS UK Foundation and meet quarterly to discuss and review strategy, planning, development, and financial matters. Day-to-day management of the organisation also rest with the trustees. Every three years, a strategic review is undertaken, involving trustees, staff, funders, partners, beneficiaries and other stakeholders.

Recruitment and Appointment of New Trustees:

The trustees are elected according to their knowledge, skill and experience of the themes and activities undertaken by the charity; commitment to LSS UK Foundation mission, objectives and activities; and in accordance with the requirements for the governance of charities. LSS UK Foundation provides information and updates about operations to the members. Board and relevant committee meetings consider and discuss matters relating to the strategic direction and focus of the charity.

Induction and Training of new Trustees:

New trustees receive induction training on: their legal responsibilities as charity trustees; the management and operational structure of the charity; and the key management issues, e.g. policy, personnel, finance, projects and funding matters. They are also guided on how to have optimum input and influence in the current and future development of the charity.

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Risk Management:

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees, for the purposes of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable for that year. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

APPROVAL

This report was approved by the Board of Trustees on 15 August 2023ss and signed on its behalf by:

……………………………. ……………………………… Lamin Sarr – Chair Sandra Sarr – Secretary

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