Charity No. 1195525 EROS FOUNDATION TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2025
EROS FOUNDATION TRUST TRuEEs REPORT YEAR ENDED 31 MARCH 2025 The trustees present their annual report and accounts for the year ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DAlLs CHARITY NUMBER: 1195525 REGISTERED OFFICE: 67 Station Road Rainham ME8 7SB CONSTITUTION AND oBJEs The trust was established by a trust deed dated 6 March 2021. The trust aims to prevent or relieve poverty for the public benefit of socially and economically disadvantaged widows and widowers and their families in Nigeria by providing food, items, grants, and all necessary support designed to enable them to generate a sustainable income and be self-sufficient. MANAGEMENT The charity is managed by the Board of Trustees. Page I
EROS FOUNDATION TRusfTRUSTEES REPORT (CONTINUED) YEAR ENDED 31 MARCH 2025 TRusfEES Members of the Charity (Directors and Trustees): Nena Nwokoro Bisola Akindeko Further trustees may be appointed by the Board of Tnjstees. Removal of trustees is the twstees, responsibility unless due to a change in office of persons above. Page 2
EROS FOUNDATION TRusf TRusfEES REPORT ICONTINUED) YEAR ENDED 31 MARCH 2025 REVIEW OF AcfiviTIES FuRE PLANS Activitie5 for the year The main activity in the year has been the provision of food and basic necessities to vulnerable men and women who were unable to cater for themselves and also widowers unable to do farm work due to old age and being frail in Nigeria. Some have mental health issues which is visible to the eye. Thi5 was supported by income generated in-country. In January 2025, EROS Foundation Trust started a weekly drop-in service in Chatan for older people, women with children experiencing violence and young people out of the Ca system identified to be experiencing isolation, exclusion and ill-health. Here. they come in, to find community, socially mix. make friend5 and share tea and coffee. Future Plans Trustees met on four occasions to review our objects and decide to do the following in the coming year= Revive the UK btsnch of the charity to support vulnerable old and infirm people, widows and widowers, mothers With children experiencing domestic violence and young girls in and out of the care System in Chatan and surrounding areas in Kent. Offer activities and seNice5 including family and mental health support. social outings, health education and monthly workshops on healthy livin8. Continue with the food and home essentials distribution in Nigeria and UK. Increase the number of trustees from 3 to 5 to effethvely and efficiently run the affairs of the charity and make sure that the charity complies with regulations. Build capacity of the organisation by recruiting. training and supporting 4 volunteers and the trustees from the Chatan community to support the Eood work we are doing. Volunteers will support service user5 as well as undertake outreach in the Kent and surrounding communttres with information materials to let people know of the support we give and how we can help them. Income from donation5 was £5,050.(K) No specific projerts were supported during the year except for distribution of food and basic necessities to widows and widows in Nigeria. Total expenditure in the UK stands at £4,980.00 with Net surplus for the year was £70.00 Page 3
The charfvs almsand objethesare people andthe fommuriyttseThe&The trustttsare aw¥e of tre generalauidan(x¢)nPubkBeneftpubfthed tythe Q4rtyCommtsknwha¥e(tslderedthtssUkIan0 kn polryforthe yew. mèy arise In exh area. In thek opInMJ the thaty wl estabbh rESOu aThl revkw gm2m8 whth. under normal c£ndltlons. shoukl the rlsks tt*y Nknifed to be to an a¢<eP Ve1 in BY Orderof theTnJstees Nena lyare Chalr- Board of T P¥è4
I report tothetntsteeson MYey1of UKcowits oftte aLwM charityforJ yearended 31# March 2024. law appltcaNe to charitie5 in ErTrJ and Waes requlres the TfU51ees to prepare xcounts for each finarKfal year. a tn •MI fa vpwof tr dwllrfsfrfKI durIr8theraTh1 its finanoal P05ftion at the erwj of the year. In preK•arw¥ acc(Kmts 8wlrv& a tTh aThJ f vlew, the trustee$ 4wld follow bert practkes and: rl select op1protr accouftt1 policiesand apply them c(m9Stenty. folk)w the methods and prInCi Inthe Charity SORP." 11 make judgements arKI estimatesthat e reawnable cautSou5: 5rate whether applkable accothrtir% staTrJèrds have ten folod wbiert to any departures disclosed and explained in the aLtountr. and ri prepare the accounts an a Eoire concernJ)asis it b knwwoprote to prewme that the charlty VAI Independent examiners Ststement. I hw4e completed my examinathn. I confirni that mattws hm come to my attentlon in eonnection the examination lch 8Nes me causeto bef that in ary material rtspect The accountlng Yecord5 wern Th)t acrordance *ith sectTh 130 of the charitles a¢ or The accounts did not accord with the accouniln8 records or The accounts did not comply wlth applicable requiTrments Concern1 the forn) and contert of accounts set out in the Chafiiie5 (Pm)unts and Ports) Regulatklns 2iJ)8 otherthan any requlrement that the accounts give a ar fairf VI TAthith Is t a Matter Consi as part of an indepernlent aamination. I have no concern4 and have come across other matter5 In Connect wlth the examination to whkh attentton should be drawn in thb report in orderto enable a proper understsrdinB of the accounts to be reathed. Joseph Setordjie Chartered Certified Accowitsnts 19 Lucknow Street Plumstead. London SE18 25N Dated: IW12n025
EROS FOUNDATION TRUST STATEME OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2025 Notes Unrestrirted Restricted 3110312025 3110312024 fund5 funds Total funds Total funds Intoming resources Incoming resources from generated funds Voluntary income Others Income 5,050.00 5.050.00 Totol Incoming resources 5,050.00 5,050.00 Resources expended Cost of Charitable activities Fundraising trading costs Governance costs 4,780.00 4.780.00 2).(X1 200.00 Total resources expended 4,980.00 4,980.00 Net incoming resources before transft 70.00 70.00 Gross transfers between funds Net movement infunds 70.00 70.00 Total funds brought forward Totalfvnds curriedfonvord 70.00 70.00 Approved and authorised for issue by the trustees on 08.12.2025. Page 6
EROS FOUNDATION TRUST BALANCE SHEET AS AT 31 MARCH 2025 Notes Unre5trirted Restricted 3110312025 3110312024 funds funds Total fund5 Total funds Fixed assets Tangible asset5 Current assets Other debtors Cash-Bank & Hand . 270.00 270.(J) 270.QNJ 270.CKJ Creditors: amounts falling due within one year 2(X).IXJ 200.00 Net current a55ets 70.CKI 70.00 Creditors: amounts due after one year io Total ossets less current liabilities 70.1]) 70.00 Net cssets 70.CKJ 70.CM) Funds Unrestricredfunds Restrirtedfunds li 70.C 70.00 Totalfunds 70.00 70.00 Page 7
EROS FOUNDATION TRUSr NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POUCIES 1.11 Basis of Accounting The financial statements have been prepared following Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts under the Financial Reporting Standard applicable in the UK and Republic of Ireland, Charities SORP 120151 {Second Edition. effective l January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The charity has taken advantage of the FRS 102 section IA disclosure exemptions. including the exemption from preparing a Statement of Cash Flow5. The charity meets the definttion of a public benefit entity under FRS 102. Assets and liabilities are initially reco8nised at historical cost or transaction value except for investments as noted below. The charity is registered in England and Wales, charity number 10153(XI. Preparation of accounts on a going concern basis The trustees have assessed the charity's ability to continue as a going concern and have determined no significant uncertainties. After reviewing the chartty's financial position, reserves levels. and future plans. the trustees are confident in the charity's ability to continue as a going CoeM forthe foreseeable future. 1.2) Donations Donations are included in full in the Statement of Financial Activities when entitlement. probability of receipt, and the amount of income receivable can be measured reliably. 1.3) Investment income Investment income is acknowledged on a recewable basi5 once the amounts can be measured reliablv. 1.4} Expenditure Expenditure is accounted for under the acuuals concept. When approved, grant5 made by the Board are treated as expenditures. Grant-making costs comprise grants payable plus related supported costs. Governance costs relate to the independent examination of the accounts. 1.51 Allocation of expenses Expenditure is assigned on a direct cost basis. 1.61 Funds Restricted funds are funds subjett to the donoVs specific conditions, binding on the trustees. Unrestricted funds have no restrictions on their use. Page 8
EROS FOUNDATION TRUST NOTES TOTHE AccouKfs YEAR ENDED 31 MARCH 20251CONT.) Analysis of incoming resources 2} Voluntsry income Donations received Donation from Trustee Totsl Other Income Bank Interest Total Incoming Resources 2025 2024 1,650.IX) 3,400.00 5,050.IKI 5.050.00 31 Cost of Charitable Activities Gift to people in need Outreaches Volunteers expenses Total 3.020.00 800.lxi 960. 4,780.00 4) Governance costs Accountancy fee Depreciation Bank charges Total 2(KI.CM) 200.00 6) Tangible fixed assets Offio Furniture Others Totsl Equipment Opening NBV At 0110412024 Additions Total Fittings 0.00 0.00 0.00 0.00 o.oo 0.00 0.00 0.00 0.00 0.00 Less depreciation Depreciation charge for year Net book value Balance at 31/03/2025 71 Other Debtors 81 Cash at 8ank
Balance In Banks Cash at Hand 270.CKJ 270. 9} Creditors: amounts falling due wFthin one year Accounting fees 200.CA) 200.00 10) Creditors: amounts due after one year Long Term Loan 11) Restrirted funds There is no restricted fund received and expended in the charity as the date of thi5 report. Page 10