## **THE NOBELT FOUNDATION** **Annual Report and Accounts For the year ended 3 December 2023** Registered Charity Number: **1193949** ## **Contents** 1. Reference and Administrative Details 2. Structure, Governance and Management 3. Objectives and Activities 4. Achievements and Performance 5. Financial Review 6. Public Benefit Statement 7. Plans for the Future 8. Trustees’ Declaration 9. Statement of Financial Activities (SOFA) - 10.Balance Sheet - 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:** - Internal financial controls - Safeguarding - Financial reserves - Complaints - Internal risk management - Trustee expenses - Conflicts of interest - Investing charity funds - Campaigns and political activity - Bullying and harassment - Social media ## **Policies not yet in place:** - Serious incident reporting - External speaker engagement ## **Staff and volunteers:** - No employees - 3 self-employed workers (including 1 overseas) - 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: - **United Kingdom** - **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: - food assistance - essential household needs - emergency welfare support ## **Educational support for children and young people** The charity contributed to improving access to education by: - supporting school-related expenses - assisting with uniforms, transport, and learning materials - helping young people remain in school during financial difficulty ## **Community development and empowerment** The foundation supported grassroots initiatives by: - assisting youth engagement groups - supporting informal community volunteers - enabling small-scale social impact projects ## **Health and wellbeing support** The charity provided targeted assistance for: - basic medical consultations - essential medication - transport to healthcare facilities ## **Strengthening local volunteer engagement** The charity worked with local self-employed workers and volunteers to: - coordinate outreach - identify vulnerable beneficiaries - ensure appropriate use of funds ## **Positive operational indicators** The charity reported positive trends in: - service demand - volunteer engagement - capacity to deliver activities - governance stability ## **5. Financial Review** ## **Income** Total income for the year: **£1,050** - Donations & legacies: £50 - Charitable activities: £700 - Other income: £300 No government grants or contracts were received. ## **Expenditure** Total expenditure for the year: **£843** - Grants to individuals: £323 - Grants to charities: £200 - 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: - expand charitable activities in the UK and Nigeria - strengthen governance and compliance - increase fundraising capacity - 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: - Charities SORP (FRS 102) - FRS 102 Section 1A - 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: - no fixed assets - no debtors - 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** - No trustees received remuneration or benefits. - No related-party transactions occurred.