THE NOBELT FOUNDATION
Annual Report and Accounts For the year ended 3 December 2023 Registered Charity Number: 1193949
Contents
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Reference and Administrative Details
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Structure, Governance and Management
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Objectives and Activities
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Achievements and Performance
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Financial Review
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Public Benefit Statement
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Plans for the Future
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Trustees’ Declaration
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Statement of Financial Activities (SOFA)
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10.Balance Sheet
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11.Notes to the Accounts
1. Reference and Administrative Details
Charity name: The Nobelt Foundation Registered charity number: 1193949
Principal address: 68A The Fairway Rochester ME1 2LU United Kingdom
Trustees during the year:
- Olaoye Tayo (Trustee)
No trustees received remuneration or benefits. No trustees resigned to take up employment with the charity.
2. Structure, Governance and Management
The Nobelt Foundation is governed by its constitution. The trustees oversee governance, compliance, and strategic direction.
Policies in place:
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Internal financial controls
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Safeguarding
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Financial reserves
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Complaints
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Internal risk management
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Trustee expenses
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Conflicts of interest
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Investing charity funds
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Campaigns and political activity
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Bullying and harassment
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Social media
Policies not yet in place:
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Serious incident reporting
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External speaker engagement
Staff and volunteers:
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No employees
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3 self-employed workers (including 1 overseas)
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Volunteers engaged in UK activities
3. Objectives and Activities
The charity aims to support wellbeing, education, and community development, particularly in underserved communities.
During the year, activities were delivered in:
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United Kingdom
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Nigeria
Funds were transferred overseas using regulated payment service providers. No formal written partnership agreements were in place for overseas delivery.
4. Achievements and Performance
Despite modest resources, the charity delivered meaningful impact across both the UK and Nigeria. Key achievements include:
Supporting vulnerable households in Nigeria
The charity provided small grants and direct support to individuals and families facing hardship, including:
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food assistance
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essential household needs
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emergency welfare support
Educational support for children and young people
The charity contributed to improving access to education by:
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supporting school-related expenses
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assisting with uniforms, transport, and learning materials
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helping young people remain in school during financial difficulty
Community development and empowerment
The foundation supported grassroots initiatives by:
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assisting youth engagement groups
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supporting informal community volunteers
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enabling small-scale social impact projects
Health and wellbeing support
The charity provided targeted assistance for:
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basic medical consultations
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essential medication
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transport to healthcare facilities
Strengthening local volunteer engagement
The charity worked with local self-employed workers and volunteers to:
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coordinate outreach
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identify vulnerable beneficiaries
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ensure appropriate use of funds
Positive operational indicators
The charity reported positive trends in:
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service demand
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volunteer engagement
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capacity to deliver activities
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governance stability
5. Financial Review
Income
Total income for the year: £1,050
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Donations & legacies: £50
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Charitable activities: £700
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Other income: £300
No government grants or contracts were received.
Expenditure
Total expenditure for the year: £843
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Grants to individuals: £323
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Grants to charities: £200
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Overseas charitable spending (Nigeria): £320
No payroll costs or trustee payments were made.
Reserves
The charity holds modest unrestricted reserves to ensure continuity of operations.
6. Public Benefit Statement
The trustees confirm compliance with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. All activities undertaken provided clear public benefit.
7. Plans for the Future
The charity intends to:
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expand charitable activities in the UK and Nigeria
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strengthen governance and compliance
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increase fundraising capacity
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improve monitoring of overseas activities
8. Trustees’ Declaration
The trustees declare that they have approved this report. Signed: Olaoye Tayo Trustee Date: 18 June 2025
9. Statement of Financial Activities
(SOFA)
For the year ended 3 December 2023 (All funds unrestricted)
| 2023 (£) | |
|---|---|
| Income from: | |
| Donations & legacies | 50 |
| Charitable activities | 700 |
| Other income | 300 |
| Total income | 1,050 |
| Expenditure on: | |
| Charitable activities | 843 |
| Total expenditure | 843 |
| **Net movement in funds ** | 207 |
| Reconciliation of funds: | |
| Opening funds | 150 |
| Closing funds | 357 |
10. Balance Sheet
As at 3 December 2023
| 2023 (£) | |
|---|---|
| Fixed assets | 0 |
| Current assets | |
| Cash at bank | 357 |
| Debtors | 0 |
| Total current assets | 357 |
| Liabilities | |
| Creditors due within one year 0 | |
| Net assets | 357 |
| Funds |
2023 (£) Unrestricted funds 357 Total funds 357
Approved by the trustees on 18 June 2025 Signed: Olaoye Tayo , Trustee
11. Notes to the Accounts
1. Accounting Policies
Prepared in accordance with:
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Charities SORP (FRS 102)
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FRS 102 Section 1A
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Charities Act 2011
The charity is a public benefit entity.
Income
Recognised when receivable and measurable.
Expenditure
Recognised when incurred.
Assets and liabilities
The charity held:
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no fixed assets
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no debtors
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no creditors
Funds
All funds are unrestricted.
2. Grants
Recipient Amount (£) Individuals 323 Other charities 200
3. Overseas Activities
The charity spent £320 in Nigeria on charitable activities. Funds were transferred using regulated payment service providers.
4. Trustee Remuneration and Related Parties
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No trustees received remuneration or benefits.
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No related-party transactions occurred.