INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 APRIL 2022
Company reg. no 12253443 Charity reg. no.1194961
DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
CONTENTS
| Reference and administrative details of the charity | 3 |
|---|---|
| Directors' report | 4 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 14 |
INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
Company Information
Director/Trustees Oluwagbemiga Badejo - Chair Oladapo Badejo Ifechukwu Nnatuanya Company number 12253443 Charity number 1194961 Registered office Stanley House 7 Pancras Square London N1C 4AG Accountants DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire ALIO 9FF
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
DIRECTORS' REPORT FOR YEAR ENDED 31 MAR 2022
The directors and trustees present their report and the accounts for the year ended 31 Mar 2022
The financial statements have been prepared in accordance with the accounting policiesset out in note 1 to the the accounts and comply with the charity's memorandum and articles, applicable by law (Companies Act 2006 and Charities Act 2011) and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities"issued in March 2005.
Legal and Administrative details
INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD was incorporated as a private company, limited by guarantee, on 10 Oct 2019, company number 12253443
Trustees
The trustees who are also directors for the purposes of the Companies Act 2006 that served in the year were as follows:
Directors Oluwagbemiga Badejo (Chairman) Oladapo Badejo Ifechukwu Nnatuanya
Structure, Governance and Management
Governing Document
The company is limited by guarantee and registered as a charity under the Charities ACT 2011. The company has applied for charitable status for taxation purposes and is currently a registered charity.
Anyone over the age of 16 can become a member of the company subject to approval by the trustees.
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 MAR 2022
Governing document continued…..
No director has any beneficial interest in the charitable company. Every member of the Charity promises that if the Chairty is dissolved while he or she is a member or within twelve months after he or she ceases to be a member, to contribute such sum (not exceeding £10) that may be demanded towards the payment of debts and liabilities of the Charity.
Recruitment and Appointment of Trustees
Appointment of trustees begun from the first annual general meeting and was in accordance with the articles of association. At every subsequent annual general meeting, one third of the trustees are subject to retirement by rotation.
If the company at the meeting at which a trustee retires by rotation does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to be reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution is put to the meeting and lost. The number of trustees shall not be less than two and are not subject to any maximum . Trustees have the power to co opt members to a commitee so long as those co opted members do not exceed one half of the total number of trustees on that committee.
Trustee Induction and Training
Any new trustees undergo an orientation day to brief them on their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be used for the undertaking of the role.
Organisational Structure
The trustees, which at present there are four provide the strategic direction of the charity. The aims and objectives are communicated to the congregation and members of the church.
Assets held on behalf of another charity
There are no assets held on behalf of another charity.
From the strategy the trustees have identified a few minor risks. These are known to the trustees and are mitigated according.
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 MAR 2022
Risk Management
The trustees have a risk management strategy that includes:
- i. An annual review of the risks the charity may face;
ii. The establishment of systems and procedures to mitigate those risks identified in the plan; iii. The implementation of procedures designed to minimise any potential impact on the charity should they materialise.
Financial risk is to be mitigated by the secretary monitoring the bank frequently to ensure no losses from error or fraud take place.
The policies of risk management are continuously reviewed to ensure they still meet the needs of the charity.
Objectives
The charity's objects are:
TO PROMOTE HUMAN RIGHTS IN NIGERIA (AS SET OUT IN THE UNIVERSAL DECLARATION OF HUMAN RIGHTS AND SUBSEQUENT UNITED NATIONS HUMAN RIGHTS CONVENTIONS AND DECLARATIONS) BY MONITORING ABUSES OF HUMAN RIGHTS, RELIEVING THE NEEDS AMONG THE VICTIMS OF HUMAN RIGHTS ABUSE; AND RESEARCH AND DOCUMENTING HUMAN RIGHT ABUSES, RAISING AWARENESS OF HUMAN RIGHTS VIOLATIONS THAT OCCUR IN NIGERIA TO THE NOTICE AND ATTENTION OF FOREIGN COUNTRIES, ESPECIALLY IN THE UK. IN FURTHERANCE OF THAT OBJECT BUT NOT OTHERWISE, THE TRUSTEES SHALL HAVE POWER TO ENGAGE IN POLITICAL ACTIVITY PROVIDED THAT THE TRUSTEES ARE SATISFIED THAT THE PROPOSED ACTIVITIES WILL FURTHER THE PURPOSES OF THE CHARITY TO AN EXTENT JUSTIFIED BY THE RESOURCES COMMITTED AND THE ACTIVITY IS NOT THE DOMINANT MEANS BY WHICH THE CHARITY CARRIES OUT ITS OBJECTS.
ACTIVITIES FOR PUBLIC BENEFIT:
Achievements and Performances : The Trustees are pleased to report that the following activities has helped the Charity build a wider network of relationships within the local community and also state that the charity is constantly seeking further ways to better engage, impact and serve the wider community better.
Approved by the Directors on 22 Dec 2022 and signed on their behalf by:
Chairman Oluwagbemiga Badejo - Chair
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 MARCH 2022
#REF!
I report on the accounts of the charity for the year ended 31 March 2022 which is set out on pages 9 to 14.
RESPECTIVE RESPONSIBILITIES OF THE DIRECTORS AND THE EXAMINER
The charity's directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year under section 476 of the Companies Act 2006 and that an independent examination is needed.
It is my responsibility to:
-
, • examine the accounts under section 145 of Charities Act 2011;
-
, • follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
-
, • state whether particular matters have come to my attention.
BASIS OF EXAMINER'S STATEMENT
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 Directors 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.
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 the requirement of Section 386 and 387 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of Section 394 and 395 of the Companies Act 2006 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 in order to enable a proper understanding of the accounts to be reached.
DTT Consultancy Limited 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
Date:22 Dec 2022
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2022
| Notes INCOMING RESOURCES Donations Total incoming resources RESOURCES EXPENDED Advocacy Events Media Operations Technology Projects Total resources expended Net (Outgoing)/Income resources for year Prior Year Adjustment Balance b/fwd BALANCE AT END OF YEAR |
2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 205,216 205,216 1,687,129 |
|---|---|
| 205,216 - 205,216 1,687,129 |
|
| 13,836 13,836 600 589 589 28,017 6,101 6,101 1,000 51,303 51,303 27,583 1,853 1,853 474 - 1,607,267 |
|
| 73,682 - 73,682 1,664,941 |
|
| 131,534 131,534 22,188 265,620 265,620 - 46,667 46,667 24,479 |
|
| 443,821 - 443,821 46,667 |
The statement of financial activities includes all surpluses and deficits recognised in the year.
All incoming resources and resources expended derive from continuing activities.
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD Balance Sheet
At 31 March 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| Notes | |||
| FIXED ASSETS | |||
| Tangible assets | 5 | ||
| CURRENT ASSETS | |||
| Debtors: amounts falling due after more than one year | 7 | ||
| Cash in hand | 6 | 444,921 | 323,641 |
| 444,921 | 323,641 | ||
| LIABILITIES | |||
| Accrual | 8 | 1,100 | 276,644 |
| 1,100 | 276,644 | ||
| NET ASSETS | 443,821 | 46,997 | |
| CHARITY FUNDS | |||
| General - unrestricted | 1d | 443,821 | 46,997 |
| General - restricted | 1e | ||
| TOTAL FUNDS | 443,821 | 46,997 |
For the year ending 31 Marl 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements were approved by the Directors on 22 Dec 2022 and signed on their behalf by:
Oluwagbemiga Badejo - Chair
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
Notes to the Financial Statements FOR YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES Value added tax
The company is not registered Value Added Tax as it reviewed its position and found that it did not require to be registered.
Stocks
Stocks are stated at the lower of cost and net realisable value.
Taxation
The charitable company has dormant status for corporation tax by HMRC.
2. DONATIONS AND GIFTS
| Donation 3. COST OF GENERATING FUNDS |
2022 2021 £ £ 205,216 1,687,129 |
|---|---|
| 205,216 59,475 |
|
| 2022 2021 £ £ 73,682 1,664,941 |
|
| 73,682 54,065 |
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
Detailed Statement of Financial Activities for the year ended 31 March April 2022
| INCOMING RESOURCES Donations |
2022 2021 £ 205,216 1,687,129 |
|---|---|
| 205,216 1,687,129 |
RESOURCES EXPENDED
| Advocacy | Advocacy | Advocacy |
|---|---|---|
| Legal Exp | 400 | 600 |
| Securityreports | 13,437 | |
| Events | ||
| Conference | 589 | 28,017 |
| Media - |
||
| Training | 10 | 1,000 |
| Social Media | 6,091 | - |
| Operations | ||
| Bank Charges | 950 | 637 |
| Graphics Design | 814 | 880 |
| Insurance | 408 | 391 |
| Office Space | 558 | 462 |
| Phones | - | 520 |
| Salaryand Expenses | 31,697 | 20,960 |
| Solicitors Fee | 5,041 | 2,150 |
| Accountancyfees | 1,100 | |
| Training | 779 | 1,380 |
| Tax | 3,628 | |
| Travel | 65 | 204 |
| Printing | 202 | |
| HR Consultancy | 708 | |
| Honourarium | 500 | |
| Operational Expenses | 1,117 | |
| Social Benefit Donation | 3,000 | |
| Other | 735 |
Project
| ICON US | 50,000 | |
|---|---|---|
| JIN Contractualpayment | 1,250,000 | |
| Public Benefitproject | 5,813 | |
| AtrocityMappingFunds | 251,454 | |
| ContingencyFunds held on behalf of PSJ Nigeria | 50,000 |
Technology
| Technology | ||
|---|---|---|
| Domain | 1,329 | 62 |
| License Fee | 350 | 412 |
| Website | 174 | |
| IT & Communications | ||
| Total resources expended 73,682 1,664,941 |
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INTERNATIONAL ORGANISATION FOR PEACE AND SOCIAL JUSTICE (PSJ) UK LTD
NOTES TO THE FINNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAR 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Accruals and deferred income | 2022 2021 £ £ 1,100 276,644 |
| 1,100 276,644 |
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