PRESENTATION R,EPORT . TEMENTS MONTHS FEBRU , FEBRUARY 2024 WWW.CCFOUNDATIONORG.COM
CONTENTS I LEGAL & ADMINISTRATION 12 BALANCE SHEEr 14 NOTESTOTHE FINANCIAL STATEMENTS 2 NOTABLE ACHIEVEMENTS 5 OUR MISSION INDEPENDENT EXAMINERS REPORT 19 OLrrREACH 22 PUBLIC BENEFIT 9 STATEMENT OF FINANCIAL ACTMTIES 24 FORWARD STrATEGY
LEGAL & ADMINSTRATION Charity Number: 1196606 Start of Financial Year: 16 November 2021 Registered Office: 18 Eltham Road, London, SE12 8TF End of Financial Year: 3 February 2023 Date of Registration: 16 November 2021 Trustees Served during this period: Simeon O undipe (Appointed 16 November 2021) Moriam A dul (A pointed 16 November 2021), Charles Harding Appointed l February 2023) Governing Document CIO: Foundation registered with the Charities Commission Bankers: CAF Bank, 25 Kings Hill Avenue, West Malling, Kent ME19 4JQ Appointment of Trustees The first charity Trustees are appointed for a term of 5 years. Subsequent charity Trustees are appointed for a term of 3 years by resolution passed at a property convened meeting of the charity Trustees. Auditors: Whitemoor Accountants Ltd, 5th Floor, 111 Charterhouse Street, London ECIM 6AW
NOTABLE ACHIEVEMENTS MARCH 2023 APRIL 2023 MAY 2023 JUNE 2023 LAUNCHED EMPLOYABILITY CLASS 4 WEEK MUSIC WORKSHOP WITH FEKKY 2 WEEK APPRENTICESHIP SCHEME FATHERS DAY INITATIVE
CONTINUED JULY 2023 AUGUST 2023 SEPTEMBER 2023 OCTOBER 2023 4-WEEK MUSIC PRODUCTION COURSE WITH MACHINE BABY 6 WEEK CV WORKSHOP BACK TO SCHOOL DRIVE BLACK HISTORY MONTH EDUCATION CLASSES EVERY SATURDAY
CONTINUED NOVEMBER 2023 DECEMBER 2023 JANUARY 2024 FEBRUARY 2024 ONE DAY CV AND INTERVIEW TECHNIQUE WORKSHOP 4TH ANNUAL TURKEY DRIVE- 4000 TURKEYS DISTIBUTED ACROSS THE UK ONE DAY CV WORKSHOP 4-WEEK MUSIC WORKSHOP WITH FEKKY
&*'i OUR MISSION The mission of CC Foundation is to empower young people from underserved communities and support struggling families by providing essential resources and opportunities. Our programs include a laptop library to bridge the digital divide, a food bank to assist with immediate needs, a creative school for exploring arts, media, and fashion, as well as employability classes to build career- ready skills. We strive to create a supportive environment where youth can learn, grow, and access tools for success, while also helping families gain stability. CC Foundation is dedicated to building confidence, nurturing talent, and creating pathways toward brighter futures and lasting, positive change.
INDEPENDENT EXAMINER'S REPORT To The Trustees of CC Foundation I report to the charity trustees on my examination of the accounts of the above charity for the period ended 3 February 2024. Respective responsibilities of trustees and examiner: As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111'the2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. Basis of independent examiner's report: 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 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 limited to those matters set out in statement below.
INDEPENDENT EXAMINER'S REPORT Independent examiner's statement I confirm that l am qualified to undertake the examination because l am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies. I confirm that no other matters have come to my attention in connection with the examination giving me cause to believe: • accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CC FOUNDATION I have no concerns and have come across no other matters in connection with the examination to which attention shouldbe drawn in this report in order to enable a proper understanding of theaccounts to be reached. GARETH MURFIN FCCA WHITEMOOR ACCOUNTANTS LIMITED 5TH FLOOR 111 CHARTERHOUSE STREET LONDON ECIM 6AW 0311212024 SIGNED DATE
STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Income and Expenditure Incoming Resources: Donations Kitchen renovation income Apprenticeship income Interest received 71,729 71,729 5,000 15,000 102 5,000 15,000 102 Total incoming resources 86,831 5,000 91,831
Resources Expended Repairs & renewals Turkey drive costs Workshops Merchandise Incentives Consultancy Professional Fees Rent Travel and subsistence Printing, postage and stationery Bank charges Accountancy Depreciation 11,199 11,199 14,485 19,400 10,250 2,280 4,500 31,902 10,800 4,233 174 123 1,650 500 14,485 19,400 10,250 2,280 4,500 31,902 10,800 4,233 174 123 1,650 500 Total resources expended 97,011 14,485 111,496 Net Incoming Resources for the year (10,180) (9,485) (19,665)
Fund balance brought forward at 3 February 2023 Transfer between funds 16,405 1,000 17,405 Fund balance carried fonNard at 3 February 2024 £6,225 (£8,485) (£2,260) All of the activities of the charity are classed as continuing. The charity has no recognised gains or losses other than the results for the period as set out above.
BALANCE SHEEr 2024 Fixed Assets 1,250 Current Assets Bank accounts 28,699 £29,949 Current Liabilities Creditors axation and soclal security Accruals 360 29,849 2,000 32,209 Net Assets (£2,260) Funds Unrestricted Funds Restricted Funds 6,225 (8,485) (£2,260)
0311212024 The financial statements were approved by the Board of Trustees on .................... . and signed on their behalf. Simeon Ogundipe Trustee The notes on page 13-18 form part of these financial statements.
NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES THE PRINCIPAL ACCOUNTING POLICIES ARE SUMMARISED BELOW. THE ACCOUNTING POLICIES HAVE BEEN APPLIED CONSISTENTLY THROUGHOUT THE YEAR. BASIS OF ACCOUNTING THE FINANCIAL STATEMENTS HAVE BEEN PREPARED UNDER THE HISTORICAL COST CONVENTION WITH ITEMS RECOGNISED AT COST OR TRANSACTION VALUE UNLESS OTHERWISE STATED IN THE RELEVANT NOTE(S) TO THESE ACCOUNTS. THE FINANCIAL STATEMENTS HAVE BEEN PREPARED IN ACCORDANCE WITH THE STATEMENT OF RECOMMENDED PRACTICE: ACCOUNTING AND REPORTING BY CHARITIES PREPARING THEIR ACCOUNTS IN ACCORDANCE WITH THE FINANCIAL REPORTING STANDARD APPLICABLE IN THE UK AND REPUBLIC OF IRELAND (FRS 102) ("SORP(FRS102)") ISSUED ON 16 JULY 2014 AND THE FINANCIAL REPORTING STANDARD APPLICABLE IN THE UNITED KINGDOM AND REPUBLIC OF IRELAND (FRS 102), AS AMENDED BY THE BULLETIN ISSUED IN FEBRUARY 2016, THE COMPANIES ACT 2006, AND APPLICABLE UK ACCOUNTING STANDARDS. CC FOUNDATION MEETS THE DEFINITION OF A PUBLIC BENEFIT ENTITY UNDER FRS 102. ADVANTAGE HAS BEEN TAKEN OF THE EXEMPTION FOR CHARITIES WITH INCOME LESS THAN £500,000 FROM PREPARING A CASH FLOW STATEMENT UNDER SORP (FRS 102) UPDATE BULLETIN I ISSUED IN FEBRUARY 2016. THE FINANCIAL STATEMENTS ARE PREPARED IN STERLING, WHICH IS THE FUNCTIONAL CURRENCY OF THE CHARITY.
NOTES TO THE FINANCIAL STATEMENTS GOING CONCERN CCFOUNDATION CURRENTLY HAS SUFFICIENT CASH RESERVES TO FUND ITS ACTIVITIES AND IS CONFIDENTTHAT IT REMAINS A GOING CONCERN. FUND ACCOUNTING UNRESTRICTED FUNDS ARE AVAILABLE FOR USE AT THEDISCRETION OF THE TRUSTEES IN FURTHERANCE OF THE GENERAL OBJECTIVES OF THE CHARITY. RESTRICTED FUNDS ARE SUBJECTED TO RESTRICTIONS ON THEIR EXPENDITURE IMPOSED BY THE DONOR. INCOME ALL INCOME IS INCLUDED IN THE STATEMENT OF FINANCIAL ACTIVITIES WHEN THE CHARITY IS ENTITLED TO THE INCOME, IT IS PROBABLE THE INCOME WILL BE RECEIVED AND THE AMOUNT CAN BE QUANTIFIED WITH REASONABLE ACCURACY. EXPENDITURE LIABILITIES ARE RECOGNISED ASAN EXPENSE AS SOON AS THERE IS A LEGAL OR CONSTRUCTIVE OBLIGATION COMMITTING THE CHARITY TO THE EXPENDITURE. EXPENDITURE IS ACCOUNTED FOR ON ANACCRUALS BASIS. EXPENDITURE INCLUDES ANY VAT WHICH CANNOT BE FULLY RECOVERED, AND IS REPORTED AS PART OF THEEXPENDITURE TO WHICH IT RELATES.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 FEBRUARY 2024 CASH AND CASH EQUIVALENTS CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY CASH AND CASH EQUIVALENTS INCLUDE CASH IN HAND, DEPOSITS HELD AT CALL AT BANKS, AND BANK OVERDRAFTS. IN THE APPLICATION OF THE CHARITY'S ACCOUNTING POLICIES, THE TRUSTEES ARE REQUIRED TO MAKE JUDGEMENTS, ESTIMATES AND ASSUMPTIONS ABOUT THE CARRYING AMOUNT OF ASSETS AND LIABILITIES THAT ARE NOT READILY APPARENT FROM OTHER SOURCES. THE ESTIMATES AND ASSOCIATED ASSUMPTIONS ARE BASED ON HISTORICAL EXPERIENCE AND OTHER FACTORS THAT ARE CONSIDERED TO BE RELEVANT. ACTUAL RESULTS MAY DIFFER FROM THESE ESTIMATES. THE ESTIMATESAND UNDERLYING ASSUMPTIONSARE REVIEWED ON AN ONGOING BASIS. REVISIONS TO ACCOUNTING ESTIMATES ARE RECOGNISED IN THE PERIOD IN WHICH THE ESTIMATE IS REVISED WHERE THE REVISION AFFECTS ONLY THAT PERIOD, OR IN THE PERIOD OF THE REVISION AND FUTURE PERIODS WHERETHE REVISION AFFECTS BOTH CURRENT AND FUTURE PERIODS. FINANCIAL INSTRUMENTS THE CHARITY ONLY HAS FINANCIAL ASSETS AND FINANCIAL LIABILITIES OF A KIND THAT QUALIFY AS BASIC FINANCIAL INSTRUMENTS. BASIC FINANCIAL INSTRUMENTS ARE INITIALLY RECOGNISED AT TRANSACTION VALUE AND SUBSEQUENTLY MEASURED AT AMORTISED COST USING THE EFFECTIVE INTEREST METHOD. THE CHARITY HAS ELECTED TO APPLYTHE PROVISIONS OF SECTION 11 'BASIC FINANCIAL INSTRUMENTS, AND SECTION 12, OTHER FINANCIAL INSTRUMENTS ISSUES, OF FRS102 TO ALL OF ITS FINANCIAL INSTRUMENTS. GRANTS GRANTSARE RECOGNISED ATTHE FAIR VALUE OFTHEASSET RECEIVED OR RECEIVABLE WHEN THERE IS REASONABLE ASSURANCE THAT GRANT CONDITIONS WILL BE MET AND THE GRANTS WILL BE RECEIVED. A GRANTTHAT SPECIFIES PERFORMANCE CONDITIONS IS RECOGNISED IN INCOME WHEN THE PERFORMANCE CONDITIONSARE MET. WHERE A GRANT DOES NOT SPECIFY PERFORMANCE CONDITIONS IT IS RECOGNIZED AS INCOME WHEN THE PROCEEDS ARE RECEIVED OR RECEIVABLE. A GRANT RECEIVED BEFORE THE RECOGNITION CRITERIA ARE SATISFIED IS RECOGNISED AS A LIABILITY.
Notes to the Financial Statements for the Year Ended 3 February 2024 (continued) 4. Related party transactions Remuneration for specialist services provided totaling £12,992 was paid to Simeon Ogundipe during the period. No remuneration or reimbursed expenses were paid to any of the other Trustees durin8 the period. 5. Corporation taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. 6. Creditors: amounts falling due within one year 2024 Creditors Taxation and social security Accruals and deferred income 360 29,849 2,000 £32,209
l¥otes to the Financial Statements for the Year Ended 3 Februan- 2024 (continued) 9. Analysis of movements in funds Unrestricted funds: General funds Restricted funds: Turkey project Kitchen renovation project 16,405 86,831 (97,011) (6,225) 1,000 (14,485) 6,225 (7,260) 5,000 17,405 91,831 (111,496) 2,260 Name of fund Description, nature and purposes of the fund Unrestricted funds: General fund The "free reserve5" of the charitv. Restricted funds: This represents the Christmas Turkey distribution project which the charity undertook in a prior year. This also represents the funding for a food bank and 50up kitchen, this project commenced in April 2024. 10. Ultimate controlling party In the opinion of the Trustees there was no one ultimate controlling party during the period.
OUTREACH CC Foundation's outreach is central to our mission of deLivering meaningful support and services to underserved communities. Through targeted efforts, we ensure that our programs-such as the laptop library, employability classes, music workshops, and education initiatives-reach those who need them most. Here's how we approach outreach effectively: '1?W' * 1. Community Partnerships .How: We coLlaborate with schools, local businesses, charities, and community centers to identify needs and reach underserved populations. .Impact: These partnerships amplify our reach by connecting us with existing networks and trusted organizations. '1[51ÈP' 4IFSEPEAr F 1116$ 5, 4P.,91ESREP
CONTINUED 2. Grassroots Engagement .How: Our team actively engages with Local residents by attending community events, organizing town halls, and conducting surveys to understand specific challenges. .Impact: This ensures that our services are relevant, accessible, and tailored to the unique needs of each community. DEN JOB MARK 3. Digital Outreach .How: We use social media pLatforms, email campaigns, and an easy-to- navigate website to inform peopLe about our programs and how they can participate or benefit. .Impact: This helps us connect with tech-savvy individuals while raising awareness of our work on a broader scale.
CONTINUED 4. Outreach Programs .How: We organize pop-up events, workshops, and mobile units to deliver services like education classes and digital training directly to communities with limited access to transportation or resources. .Impact: By meeting people where they are, we eliminate barriers and ensure inclusivity. 4 c T/biiJ 5. Inclusive Communication CC FOUNDATIO .How: Our materials and messaging are multilingual and culturally sensitive, designed to be inclusive of diverse populations. .Impact: This approach builds trust and ensures that no group is left out of our outreach efforts.
OUR VALUABLE WORK FOR PUBLIC BENEFIT LAPTOP LIBRARY EMPLOYABILITY CLASSES MUSICWORKSHOPS Purpose: Tackling the digital divide by providing access to technology. Purpose: Improving career prospects for unemployed and underempLoyed individuals. Purpose: Promoting creativity, mental well-being, and community engagement through music. Education Access: Job Search Support Digital Llteracy: Job Readiness: Skill Development Confldence Building: Skill Building: Therapeutic Benefits Communlty Connectlon:
CFOUNDITIONtJR tjm BWAIt cc URKEY guKp M ss Jki OUR OBJECTIVE: TO EMPOWER INDIVIDUALS TO ACHIEVE FINANCIAL INDEPENDENCE AND LONG-TERM STABILITY"
FORWARD STRATEGY Launching a Food Bank CApril 2024) .Objective: Address food insecurity by providing consistent access to nutritious meals for vulnerable families. .Key Steps: .Partner with Local supermarkets, restaurants, and food suppliers for surpLus donations. .EstabLish a central hub and satellite distribution points to ensure accessibiLity. .Recruit and train volunteers to manage food coLlection, sorting, and distribution. .Impact: .Reduce hunger and malnutrition in the community. .Offer additional support through partnerships with social services to address underlying causes of food insecurity.
FORWARD STRATEGY Creative Winter School CDecember 2024, Pilot in June 2024) .Objective: Foster creativity, confidence, and community engagement among young people during school holidays. .Key Components: .Creative Arts: Workshops in music, art, drama, and storytelling to nurture talent and self-expression. .Life Skills: Sessions on teamwork, communication, and emotional well-being. .Academic Support: Fun, interactive classes to strengthen skills in literacy, numeracy, and critical thinking.
FORWARD STRATEGY Doubling Education and Employability Workshops Objective: Expand access to skills development for more community members. CCF Plan: .Increase the number of workshops offered, focusing on high-demand areas such as digital literacy, career counseling, and interview preparation. li .Collaborate with local businesses to align training with job market demands and offer Internship or placement opportunities. .Expand outreach to ensure underserved groups, such as youth, women, and migrants, can participate. .Impact: .Equip participants with practical skills for the workforce. .Empower individuals to achieve financial independence and long-term stability.