## **Safe Haven A Ray of Hope** (A company limited by guarantee) **Report and Financial Statements For the Year Ended 31 August 2022** **Charity number 1195796 Company number 12144461** _(A company limited by guarantee)_ ## **Financial Statements** **For the Year Ended 31 August 2022** **Contents Page** Legal and Administrative Information Report of the Management Committee Statement of Financial Activities Balance Sheet Notes forming part of the financial statement 2 _(A company limited by guarantee)_ ## **Report of the Management Team for the year ended 31 August 2022** The Management Committee presents its Directors’ report and audited financial statements for the year ended 31 August 2022. ## **Reference and Administrative Information** Charity Name: Safe Haven-A Ray of Hope Charity registration number: 1195796 Company registration number: 12144461 Registered Office and Operational address: 59 Hadrian Road, Newcastle Upon Tyne, United Kingdom, NE4 9HN Safe Haven-A Ray of Hope ## **Management Committee** Mrs Blessing Olalemi Chair/Trustee Mr John Olalemi Vice Chair/Trustee Ms Helen Nwakaego Asomugha Director **Auditors** - **Bankers** – Barclays Bank7PC **Solicitors** - **Our Aims and objectives** ## Purposes and Aims Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are to: 3 _(A company limited by guarantee)_ - Be a strong advocacy organization for underprivileged children and children living with disabilities. - Give the underprivileged child and children with disability financial, educational, and psychological support. - Create activities within the community. - Advocate to alleviate poverty among children. ## Ensuring our work delivers our aims We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## Mission Statement “A committed and proactive children’s organization whose advocacy is focused on supporting the underprivileged child and children with disability.” ## The focus of our work Our main objectives for the year: We are working to bridge existing educational gaps for long term ill children while in the hospital or at home by helping with required curriculum standard presented in ways that learning can be fun and engaging and still achieving successful academic progress for their age. The strategies we used to meet these objectives included: - During the peak of the Covid 19 pandemic: Offering psychological help to children and helping the distribution of supplies. - Providing accommodation support to children and parents in desperate needs. - Working to bridge existing educational gaps for long term ill children while in the hospital or at home by helping with required curriculum standard presented in ways that learning can be fun and engaging and still achieving successful academic progress for their age. 4 ## _(A company limited by guarantee)_ - Giving Toys to children in hospitals ## **How our activities deliver public benefit** Our main activities and who we try to help are described below. All our charitable activities focus on supporting the underprivileged child and children with disability to further our charitable purposes for the public benefit. ## Who used and benefted from our services? Our objects and funding limit the services we provide to children within and around Newcastle in the United Kingdom primarily and then Africa. - Community Support Project - Visiting family of children with disability and those in desperate need. - World Advocacy for more Black and Asian Minority ethnic background to get - on the donor registry. - Introducing a hope for every child food bank in some African countries and - also extending advocacy program to Africa. - Committed and building structure for be the best version of you for our 12-17 - years old with aim to build a stronger future for our children. ## **Financial Review** The Annual Income of the Charity is less than £10.000.00. Against the backdrop of limited resources and insecurities over funding, it has continued to be difficult to plan or develop services. Nevertheless, the charity, with the aid of donations from Safehaven BnB Homes and Lettings Ltd, the Charity was able to carry out its activities. The Charity is does not receive Government contract or Grants. Also no income received from outside the United Kingdom. The Charity is not a Grant making Charity. There is hope that with the credibility gained from the recognition and awards given to the Charity will attract more donations. ## Principal Funding Sources 5 _(A company limited by guarantee)_ - Funding from the profits of sister company Safehaven BnB Homes and Lettings Ltd, - Donations from individuals and corporate bodies. ## Investment Policy Most of the Charity’s funds are to be spent in the short term so there are few funds for long term investment. No funds available at the moment for investments. ## Reserves Policy The Management Committee has a plan to establish a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The present level of reserves available to the charity of £142.00 therefore falls significantly short of this target level. Although the strategy is to continue to build reserves through planned operating surpluses, the Management Committee is well aware that it unlikely that the target range can be reached for at least five years. In the short term the Management Committee has also considered the extent to which existing activities and expenditure could be curtailed, should such circumstances arise. ## **Plans for Future Periods** The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Plans are also being developed to work on expanding our Training programmes for children. ## **Structure, Governance and Management** ## Governing Document The Governing Document is primarily the CIO-Foundation Governance Document. The organisation is a charitable company limited by guarantee, incorporated on 17th August 2019 and registered as a charity on 24 July 2021. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. 6 _(A company limited by guarantee)_ In the event of the company being wound up members are required to contribute an amount not exceeding £10. ## Recruitment and Appointment of Management Committee The Directors of the company are also Charity Trustees for the purposes of Charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. All member of the Management Committee give their time voluntarily and received no benefits from the charity. ## Risk Management The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. New significant risk identified for the period. ## Organisational Structure The Safe Haven-Ray of Hope has a Management Committee of up to 3 members who meet quarterly and are responsible for the strategic direction and policy of the charity. ## Related Parties In so far as it is complimentary to the charity’s objects, the charity is guided by both local and national policy and welcome relationships with similar organisations and Government bodies. No related parties to report during the period. ## **Responsibilities of the Management Committee** Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and: - select suitable accounting policies and then apply them consistently; 7 _(A company limited by guarantee)_ - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Management Committee is 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. Members of the Management Committee Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3. In accordance with company law, as the company’s directors, we certify that the company accounts are not subject to Audit. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities. Approved by the Management Committee on 05 May 2023 and signed on its behalf by: Mrs Blessing Olalemi(Director) Safe Haven-Ray of Hope. 8 • Safe Haue (A company limited by guarantee) • Safe Haue (A company limited by guarantee) Section A Statement of financial activities (including summary income and expenditur8 account) Rejtyi￿ed InLx)mè EndowAn* funds funds ilnf8strSd*l funds Prlor ywr fund• Recomrnendwl co1￿Jori•l by Ixtivity Totd lund¥ Ineorn• (Not• 3) Income and endow)wni$ IrML F01 F02 F03 F04 F05 Donat￿08 and S01 10,531 21,259 Chaf¢ab* other Irodng In¥Mtmthili S03 Sewrth Mattr￿ lem Dfkncom• Other Totsl Exp•ndltur• {Not•$ 61 Expèndi￿re oré: Rakgino fvnda Charlib* S07 10531 21259 2,549 7,150 10,990 59,430 Swr•ts Mattr￿ exponse tsm Other $10 $11 rotal $12 9.699 70 420 In¢omd{•xpwdltur•) brfor• tax for th• r•poning p•rlod $13 832 49 161 Tax poyab $14 Incomtsl{exponditur•) aftw tsx b•lor• inv•stm•nt gain51{10ss•s1 Net OTh Mvestm•nti $15 832 49 161 S16 N•t Sncomd{•xp•ndltur•) Extraordlnary Itwns Transf•rs b•tw••n funds Oth•r r•cognls•d galnsllloss•s): S17 si8 832 S19 and on f•VibJthn of*qéd 188•t# trthe S21 Net movement in funds R￿Onellia￿on of funds." 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