Charity no. 1195225
THE FATHER'S JOY CIO
REPORT AND FINANCIAL STATEMENTS
Year ended 31st March 2024
THE FATHER'S JOY CIO Report of the trustees for the year ended 31st March 2024
The trustees present their annual report and financial statements of the CIO for the year ended 31st March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Governing Document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities.
Objectives and activities for the public benefit.
The core objects of the CIO continue to be:
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To provide educational support, grants and kits to children with special needs;
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To provide other facilities to families in hardship;
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To provide vocational training and technical skills to help them to increase skills and capabilities that will lead to an increase in income and improved life chances;
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To train and equip, hold awareness conferences, to mentor/coach and support within the BAME community and general public.
Our achievements during the year included:
Finding sponsors and successfully hosted "Dinner4dads" event where 140 men gathered to be honoured, encouraged and celebrated and addressing the mental health issues amongst men, particularly BAME;
The launch of "Emerging Leaders Forum for under 35's"
Having Social Media Support that increased our visibility and social media presence; 100 attendees to our "Empowering Women" residential weekend conference - a 40% increase from the previous year;
An "Equipping Seminar for Women"
74 people trained in vocational skills at our empowerment training centre and our first graduation took place;
The provision of 2 Braille Machines for ERUWA School for the Blind;
The provision of 200 Christmas Hampers for special needs families and single income families and unemployed - a 40% increase on the previous year; The launching of our monthly SEN Seminars for parents; One University Education Sponsorship for a visually impaired person; One Education Sponsorship for secondary school pupil who lost the primary carer to cancer;
A recognition award by Women of Africa Award recognising the work of BAME community doing great work in the UK;
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THE FATHER'S JOY CIO
Report of the trustees for the year ended 31st March 2024
Our achievements (Contd)
In total, around 2,495 benefitted from our service, programs and events. This is an extra ordinary increase over the previous year.
Financial review
The work of the CIO is entirely dependent on the voluntary offerings of individual donors and sponsors who give towards our project partnerships with other organisations.
The income of the year increased by 51% to £48,367 (2023: £32,048).
Risk management
The main risks faced by the trust are as follows:
a. Financial
This includes a serious decrease in the amount of income received and thereby causing the trust to be unable to meet its financial commitments. This has been mitigated by the trustees receiving regular financial updates and the close monitoring of the bank accounts.
b. Reputational
The trustees are aware that the main reputational risks stem from adverse publicity affecting the charity and those associated with it.
Although there could be many reasons for this to occur, the trustees seek to ensure that all aspects of the charity are regularly reviewed to ensure that they are being run accurately and effectively.
Particular attention is always paid to the varied works involving the children who attend meetings and the trustees ensure that people who lead these groups have the necessary qualifications and accountability.
Reserves policy
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately two months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to enable financial commitments to be met and also give them enough time to review and revise ongoing commitments should a long term decrease in income be recognised.
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THE FATHER'S JOY CIO
Report of the trustees for the year ended 31st March 2024
Reserves policy (Contd)
The level of unrestricted reserves as at 31st March 2024 was £1,036 .
Two months average expenditure totals £8,100.
The current level of reserves is insufficient to meet the policy requirements and the Trustees are seeking ways to improve the situation.
Plans for the future
These include:
To continually facilitate monthly seminars to support our special needs families; To run holiday activities clubs with occupational health input to encourage independence for young persons with disabilities;
To secure grants to be able to run the activity club;
To have a fundraising strategy that helps with long term fundraising for future projects and for a paid staff team;
To review our social media strategies and invest more on PR and visibility;
To establish an Advisory Group - professionals who can give their time to advise as and when required;
To recruit more Trustees particularly targeting under 40's with Project Management skills; The recruitment and training of additional volunteers to support our special needs families.
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THE FATHER'S JOY CIO
Report of the trustees for the year ended 31st March 2024
Structure, governance and management
The CIO is a registered charity, number 1195225, formed by a Governing Document dated 20th July 2021.
The trust does not raise funds from the public and seeks to continue its charitable works through the careful stewardship of the donations from members and the public.
New trustees are appointed by the existing trustees.
There are regular meetings of the trustees where they agree on the future broad strategy and areas of activity.
They also review the level of reserves, risk management policies etc. The day to day leading of the charity is delegated to the senior elder.
New trustees are chosen from the membership after showing continuous integrity and faithfulness to the charity. Before accepting the position, the potential trustee is given copies of the Trust Deed, previous financial statements and meets with the existing trustees for an overview of the plans of the charity for the future. Any training requests are quantified and arranged as necessary.
Key management personnel remuneration.
The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.
All trustees give their time freely and no trustee remuneration was paid in the year. Any related party transactions are detailed in the notes.
Trustees are required to disclose all relevant interests and are required to withdraw from decisions where a conflict of interest arises.
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THE FATHER'S JOY CIO Report of the trustees for the year ended 31st March 2024
Reference and administrative information
Trustees
Dr Mosunmola Titilayo Oyebola - Chair Dr Modupe Olufunlayo Akindele Olabunmi Bakare Olubunmi Adedeji-Ahove
Principal office
36 Bradley Road Enfield EN3 6ER
Independent Examiner
Bankers
George Kitcher FCA Regus, 15th Floor, Brunel House Cardiff CF24 0EB Lloyds Bank 30.98.97
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THE FATHER'S JOY CIO Report of the trustees for the year ended 31st March 2024
Trustees' responsibilities in relation to the financial statements
The CIO trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements in each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the CIO and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the CIO and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees on 28th November 2024 and signed on their behalf by:
Olabunmi Bakare - Trustee
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Independent Examiner's Report to the Trustees of:
THE FATHER'S JOY CIO
I report on the accounts for the trust for the year ended 31st March 2024 which are set out on pages 8 to 12 .
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act
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- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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- to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Direction given by the Charity Commissioners. 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 on any such matters. The procedures undertaken do not provide all the evidence that would be required by 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 statement below.
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 Charities Act, and # to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act
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.
George Kitcher FCA Regus, 15th Floor, Brunel House Date: 10th December 2024 Cardiff CF24 0EB
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THE FATHER'S JOY CIO Statement of Financial Activities Year ending 31st March 2024
| Total | Total | ||
|---|---|---|---|
| Note | Funds | Funds | |
| 2024 | 2023 | ||
| £ | £ | ||
| Income | 1 | ||
| Donations | 3 | 48,367 | 32,048 |
| Investment Income | 0 | 0 | |
| TOTAL INCOME | 48,367 | 32,048 | |
| Expenditure | 1 | ||
| Expenditure on charitable | -47,478 | -30,853 | |
| activities | 4 | ||
| Governance Costs | -1,085 | 0 | |
| TOTAL EXPENDITURE | -48,563 | -30,853 | |
| Net incoming/(expenditure) | -196 | 1,195 | |
| Reconciliation of funds | |||
| Total funds brought forward | 1,232 | 37 | |
| Total funds carried forward | 1,036 | 1,232 |
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| THE FATHER'S JOY CIO | |||
|---|---|---|---|
| Balance Sheet as at 31st March 2024 | |||
| Note | Total | Prior | |
| Funds | Year | ||
| £ | £ | ||
| Current assets: | 5 | ||
| Debtors | 0 | 0 | |
| Cash at bank and in hand | 1,286 | 1,432 | |
| Total current assets | 1,286 | 1,432 | |
| Liabilities: | |||
| Creditors falling due within | |||
| one year | 6 | -250 | -200 |
| Net Current assets | 1,036 | 1,232 | |
| Net assets | 1,036 | 1,232 | |
| The funds of the charity: | |||
| Unrestricted income funds | 1 | 1,036 | 1,232 |
| Total charity funds | 1,036 | 1,232 |
The notes at pages 10 - 12 form part of these accounts
Approved by the trustees on 28th November 2024 and signed on their behalf by: Olabunmi Bakare - Trustee
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THE FATHER'S JOY CIO Notes to the accounts
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, the Charities Act 2011 and applicable regulations.
The accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
(b) Funds structure
All of the charity's funds are unrestricted and the trustees are free to use these funds for any purpose in furtherance of the charitable objects.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donations from members and other donations are recognised when received.
Income in respect of HMRC Gift Aid claims is recognised when the claim has been submitted to HMRC.
Interest on funds held on deposit is included upon notification of the interest payable by the Bank.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured quickly.
All expenditure is recognised on an accruals basis.
(e) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure head for which it was incurred.
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THE FATHER'S JOY CIO Notes to the accounts
2. Related party transactions and trustees' expenses and remuneration
The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind. They are entitled to claim any expenses. The amount of expenses paid during the year was £nil ( 2023: £nil )
| 3. Donations | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Donations | 48,367 | 32,048 |
4. Expenditure on charitable activities
| e on charitable activities | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Support materials, projects and outreach | 32,214 | 28,239 |
| Charitable Donations | 1,372 | 500 |
| IT and Admin Support | 1,960 | 725 |
| Printing, stationery | 0 | 95 |
| Registration | 0 | 300 |
| Subscriptions | 0 | 130 |
| Insurance | 454 | 454 |
| Telephone and Internet | 0 | 60 |
| Accountancy | 250 | 200 |
| General expenses | 0 | 150 |
| Website Expenses | 1,710 | 0 |
| Merchandise | 3,415 | 0 |
| Events | 2,250 | 0 |
| Honoraria | 1,400 | 0 |
| Publicity | 2,453 | 0 |
| 47,478 | 30,853 | |
| 2024 | 2023 | |
| £ | £ | |
| Governance Costs | 1,085 | 0 |
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THE FATHER'S JOY CIO Notes to the accounts
| 5. Current assets | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Debtors | 0 | 0 |
| Balance at Bank | 1,286 | 1,432 |
| 1,286 | 1,432 |
All debtors and bank balances related to unrestricted funds in both 2023 and 2024
6. Analysis of current liabilities
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Creditors under | 1 | year | -250 | -200 |
All creditors in 2023 and 2024 relate to unrestricted funds.
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