Companies House No. CE025435 Charity no. 1194721
The Toni and Tosin Foundation (CIO) Report of the Trustees and Unaudited Financial Statements for the year ended 30 April 2024
The Toni and Tosin Foundation Report of the Trustees and Unaudited Financial Statements for the year ended 30 April 2024
Reference and Administrative Details
Registered Charity Number 1194721 Registered Office 8 MAYFIELD CLOSE HARPENDEN AL5 3LG Trustees Appointed Oyinkansola KALEJAIYE 8[th] June 2021 Seliat O. ABARI 8[th] June 2021 Ayodele ALOFE 8[th] June 2021 Prof. Foluwasayo E. OLOGO 8[th] June 2021 Mogbonjubola LASISI 8[th] June 2021 Company Secretary Oyinkansola KALEJAIYE 8[th] June 2021 Principal Staff Oyinkansola KALEJAIYE 8[th] June 2021 Independent Examiner ROSAM INVESTMENTS LTD (Chartered Accountants) 2 Fairfield Drive, Broxbourne, Hertfordshire EN10 6DX Bankers Starling Bank
1
The Toni and Tosin Foundation
Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Trustees Report
The Board of Trustees
The governing body of the charity is the board of trustees, the members of which are the charity's Trustees and the company's directors as defined by the Companies Act 2006.
The trustees present their report and the financial statements for the year ending 30 April 2024.
The financial statements comply with the Charities Act 2011, the Companies Act. The financial statements comply with the Charities Act 2011, the Companies Act 2006 and Accounting Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective January 2015.
Principal objectives
The main objective of The Toni and Tosin Foundation is
TO RELIEVE THE NEEDS OF PEOPLE WHO ARE DEAF OR WHO HAVE A HEARING IMPAIRMENT BY HELPING TO REMOVE BARRIERS; PROMOTING INCLUSION; CREATING OPPORTUNITIES AND PROVIDING EDUCATION, COMMUNICATION AIDS, SPECIALIST SUPPORT, AND ADVOCACY.
This objective is actualized in specifics through:
-
To make 'good enough' education and educational support accessible to deaf and hearing children ages 3 – 16 by raising funds to provide educational resources, communication aids, specialist support like teachers of the deaf, specialist learning support assistants for the deaf, speech and language therapy, audiology, mental health therapeutic interventions to ensure excellent holistic support is accessible to deaf and hearing-impaired children.
-
To relieve the impact of poverty in developing countries, by raising funds to provide the necessities and meet basic needs like food, clothing, shelter, and education where it is identified and identified/established that a deaf or hearing-impaired child/young person of age 0 - 25 and /or members of their immediate family is struggling with accessing these necessities.
-
To provide practical and emotional parenting support by sharing tips, suggestions, and strategies to parents/carers of deaf and hearing-impaired children; by mentoring and befriending parents/carers within the 'hard-to-reach' communities, providing parent mentors/coaches to work with parents/carers who need more 'hands-on' guidance with accessing the right support.
-
To provide advocacy by being a strong and impactful voice on behalf of the deaf and hearing-impaired communities to overcome and prevent marginalization, where relevant and useful the foundation will join forces with existing organizations to raise our voices and pave the way for positive changes that will benefit members of the deaf and hearing-impaired community. We will also work hard to create awareness within the hearing community and promote inclusion.
Public Benefit Statement
Our strategy is planned to ensure the laid-out objectives as set out in our Governing document are achieved.
Our achievements in the period May 2023 to April 2024
The 2023-24 year has proven to be a particularly challenging one for the foundation, primarily due to limited financial resources. Fundraising efforts have been hindered by a range of factors, creating significant financial pressure and uncertainty. Our beneficiaries are predominantly based in Nigeria, where numerous unmet needs have been identified. However, this is complicated by the high exchange rates and the fact that much of the necessary equipment and expertise must be imported.
As a team, we remain committed to raising awareness and securing the necessary funds to support as many children and young people as possible.
On 17th June 2023, a group comprising the boys, trustees, and friends participated in a 5K inflatable obstacle run in St Albans to raise funds for the foundation, which supports deaf and hard-of-hearing children and young people. We were able to raise some money through our GoFundMe page, which serves as our primary fundraising platform.
Additionally, on 23rd July 2023, the boys, trustees, and friends set up a stand at an event in Grays in Essex where they raised awareness about deafness and our charity’s work.
Our primary fundraising focus this year has been raising significant funds for Habiba, a three-year-old girl in Nigeria who is profoundly deaf and requires cochlear implants to access sound. The cost of unilateral cochlear implantation has risen substantially over the year, driven by the instability of Nigeria’s currency exchange rates. The cost of the procedure is further impacted by the need to import all equipment and the surgeon being flown in from abroad. Consequently, fluctuations in exchange rates directly influence the overall cost.
We are aiming to raise 20 million Naira (approximately £11,750) for Habiba’s unilateral cochlear implantation. To date, the foundation and Habiba’s parents have raised 15 million Naira (around £8,000). While this was initially sufficient to cover the full cost, the price has increased once again due to the volatility of the exchange rate. Half of the funds raised so far (around £3,500) have come through our GoFundMe page, thanks to the generous support of family, friends, and donors. We have been actively fundraising for nearly a year, yet Habiba is still waiting for her surgery as we continue our efforts alongside her parents to reach the goal of £11,750.
In addition to fundraising for Habiba’s surgery, we have also supported the placement of two young boys in specialist provisions in Nigeria, who were beneficiaries of hearing aids. Both boys are thriving in their new environments, where they have access to adapted curricula and regular specialist support, including speech and language therapy.
Looking ahead, our main goal for the coming year is to explore additional fundraising avenues, as we face increasing pressure on our limited resources. There is currently a waiting list of seven children whose parents are seeking assistance with funding cochlear implantation and digital hearing aids.
2
The Toni and Tosin Foundation
Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
FINANCIAL INFORMATION
All reports to date are currently available on the Charity Commission’s Website.
Financial Review
Reserves Policy
The Trustees recognize that reserves are required to ensure the long-term viability of the charitable company against unforeseen reductions in income or increases in expenditure and to ensure the continuity of the charity's objectives.
The trustees aim to maintain unrestricted funds that have not been designated for specific use at a level equivalent to the average cost of two mission trips. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
Principal Funding
The charity's principal funding is through donations.
Future developments
The charity aims to increase the number of activities it is engaged in going forward and is striving to develop a structure that will support this planned growth.
Structure, Governance and Management
Governing Document
This is a registered charity, (number 1194721
Appointment and training of trustees
The directors of the company are also the charity Trustees as defined by section 97 of the Charities Act 1993. The company has 6 Trustees as listed on page 1
3
The Toni and Tosin Foundation Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Trustees Report (cont...)
Policies Adopted for the Induction and Training of Trustees
New trustees are issued with an induction pack that details their legal obligations under charity law, the charity's decision-making processes and recent financial performance of the charity.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Organizational Structure and Decision-Making
The charity is organized such that the day-to-day running of the charity has been delegated to the founder (Mrs. Oyinkansola Kalejaiye) and a voluntary operational team.
The trustees are consulted on all issues that are material in nature and determine the strategic direction of the charity's affairs. Trustees meet formally and when required to review the charity's operations.
Connected Charities
The Toni and Tosin Charitable Foundation is set up as a Non-Government Organization in the Federal Republic of Nigeria.
Risk Management
The Trustees continue to be aware of their responsibilities regarding risk management and meet regularly to profile risks, examining controls already in place and embedding new controls to mitigate significant risks.
The Risk Management Strategy is led from the top of the organization and is embedded in the normal working routines and activities of the organization.
Trustees’ responsibilities for the financial statements
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the situation of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
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 (FRS 102).
-
make judgments and accounting estimates that are reasonable and prudent.
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business 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.
The Trustees confirm that:
-
so far as each Trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and
-
the Trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.
Charity Commission
The Board confirms that we have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
The Board confirms that PSF does not undertake any public fundraising and does not work with any third-party commercial participators or professional fundraisers.
Small companies Provision
This report has been in accordance with the provisions applicable to companies entitled to the small companies’ exemption.
Approved by the trustees on 2 November 2024 and signed on their behalf by
Mrs. Oyinkansola Kalejaiye – Trustee
4
The Toni and Tosin Foundation
Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Independent Examiner’s Report to the Trustees
I report on the accounts of The Toni and Tosin Foundation for the period from 01 May 2023 to 30 April 2024 set out on pages 7 to 10. My report is in respect of an examination carried out in accordance with the Charities Act 2011 ("the Act").
The report is made solely for the Board of Trustees.
My examination has been undertaken so that I might state to the Trustees those matters as may be required to be stated in an independent examiner's report and for no other purpose.
To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Board of Trustees of The Toni and Tosin Foundation, for my examination, for this report or for the opinions I have formed.
Respective responsibilities of trustees 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 the Regulations, that Section 144(2) of the Act does not apply and that an independent examination is required.
Having satisfied myself that the charity (The Toni and Tosin Foundation ) is not subject to audit and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under Section 145 of the Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission (Under Section 145(5)(b) of the 2011 Act); and
-
to state whether specific matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission under the 2011 Act.
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 explanations from you as 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 statements below.
I planned and performed my examination to satisfy myself that the objectives of the independent examination were achieved and before finalizing the report I obtained assurances from the trustees of all material matters.
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 Act; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of relevant sections of the 2011 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
have not been met; or
- (2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
______ Adetunji Oyewunmi B.Sc.; FCCA; FFA; FIPA
Rosam Investment Limited (Chartered Accountants) 2 Fairfield Drive, Broxbourne, Hertfordshire EN10 6DX
5
The Toni and Tosin Foundation Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Statement of financial activities (including the income and expenditure account)
| Note Incoming Resources Incoming Resources from Generated Funds: Voluntary Income Bank Interest Government Gift Aid 2 Total Incoming Resources Resources Expended Costs of Generating Funds: Fundraising Costs Charitable Activities 3 Governance Costs Total Resources Expended Net Incoming/Outgoing Resources for the year Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward |
30 April 2024 £ 4,808.05 24.61 0.00 |
|---|---|
| 4,832.66 0 5,389.40 0 |
|
| -5,389.40 -722.02 0 -722.02 |
All income and expenditure derive from activities of the charitable venture that are continuing. There was no other comprehensive income arising in the current or prior year. All incomings and outgoings during the period were in the Unrestricted category.
The notes on pages 8 to 9 form part of these financial statements
6
The Toni and Tosin Foundation
Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Statement of Assets and Liabilities
| Current Assets Note Cash in Hand and at Bank 2 Debtors Current Liabilities Creditors 5 Net Assets/(Liabilities) Funds Unrestricted Funds: General Total Funds |
30 April 2024 181.04 0.00 -1,282.00 -1,100.96 -1,100.96 -1,100.96 |
|---|---|
The trustees acknowledge their responsibilities for:
ensuring that the charity keeps adequate accounting records that comply with section 386 of the Act, and preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its income and expenditure for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to the financial statement so far as applicable to the charity.
These accounts have been prepared in accordance with the provisions applicable to small companies.
Approved by the trustees on 2 November 2024 and signed on their behalf by
_____ Mrs. Oyinkansola Kalejaiye - Trustee
7
The Toni and Tosin Foundation
Report of the Trustees and Unaudited Financial Statements for the year Ended 30 April 2024
Notes to the Financial Statements
1. Accounting Policies
-
a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
-
The financial statements have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
-
b) Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable.
-
c) Resources expended are recognized in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
-
d) Unrestricted funds are donations and other incoming resources received or generated for charitable purposes.
-
e) Resources expended are allocated to the activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the overhead costs of the central function, is apportioned based on staff time, floor area and usage.
2. Voluntary Income
Voluntary income represents general donations from individuals in response to appeals and fundraising literature.
| Total income for the year Voluntary Donations Other Income Grant Funds TOTAL Total Resources Expended Fundraising Charitable Governance Costs Activities Costs Allocated Costs Legal and professional Outreach and sponsorship 339.40 5,050 165.28 TOTAL Movement in funds Incoming Outgoing 4,832.66 5,554.68 |
30 April 2024 £ 4,808.05 24.61 0 4,832.66 30 April 2024 £ 0 5,554.68 5,554.68 Carried Forward -722.02 |
|---|---|
3. Total Resources Expended
4. Movement in funds
- Creditors: Accountancy fee - £560 and Loan from Trustee - £722.02
8
JJ TheToDi& -"Oundatior. Bea knrce (IfHope.... A.1! Iii,11, Ipport dHaD dyw
Toni and Tosin Foundation Be a source of HOPE... Please Support Habiba! She would really like to HEAR We are raising money to fund her cochlear im lant. io