## **Trustees’ Annual Report for the period**
**From** 1 January 2023 **To** 31 December 2023
**Charity name:** MAGNIFY COLLECTIVE
## **Charity registration number:** 1197908
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**1. The advancement of the Christian**
**faith.**
**2. Use of digital and print media and**
**other such means for charitable**
**purposes.**|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|**1. Production of a digital and print**
**magazine.**
**2. Teaching and equipping seminars.**
**3. Production of faith-based digital**
**content for community empowering.**|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**Magnify Collective has complied with**
**the duty in section 4 of the 2006**
**Charities Act to have due regard to**
**guidance published by the Charity**
**Commission (i.e. public benefit**
**statement). Magnify Collective was**
**incorporated as a charitable company**
**limited by guarantee, with no share**
**capital on 17th December 2018. The**
**charity is run in accordance with the**
**articles of association laid out at that**
**time and amended on 13th August 2021.**|
**Additional information (optional)** You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment
Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**The charity continued to review its**
**operations with a view to fulfilling its**
**objectives to reach more people with**
**the message of Christianity. We**
**invested more in creation and**
**dissemination of digital content and**
**resources in order to reach those**
**suffering from stress, depression, loss**
**or anxiety, as well as those exploring**
**the Christian faith. We were effective in**
**engaging a wider audience than in**
**previous periods with the message of**
**hope.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41||
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**At the end of the year the combined**
**income of the charity was £226,813 with**
**total expenses of £230,491. The income**
**comprised mostly donations from**
**individuals.**|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**The charity does not have a reserves**
**policy.**|
|Amount of reserves held|Para 1.22|**Funds that were not allocated were**
**reported as reserves on the balance**
**sheet. The bank balance at the end of**
**the reporting period was £7,499.**|
|Reasons for holding zero
reserves|Para 1.22|**The charity depends on donations to**
**fund its activities.**|
|Details of fund materially in
deficit|Para 1.24|**None**|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**None foreseen**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:||**Articles of Association**|
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Company limited by guarantee**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Appointed by trustees**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25||
**Additional information (optional)** You may choose to include further statements where relevant about:
|Policies and procedures
adopted for the induction
and training of trustees|Para 1.51||
|---|---|---|
|The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51||
|Relationship with any related
parties|Para 1.51||
|Other|||
## **Reference and Administrative details**
|Charity name|Magnify Collective|
|---|---|
|Other name the charity uses|Magnify|
|Registered charitynumber|1197908|
|Charity’s principal address|9 Five Oaks Lane, Chigwell, England, IG7 4FJ|
|||
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body)**
**entitled to appoint trustee**
**(if any)**|
|---|---|---|---|---|
||Olabode Awogbade||||
||Jane McKeever||||
||Misan Nwokorie||||
||||||
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– Corporate trustees names of the directors at the date the report was approved
## **Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|
|---|---|---|
|**Type of**
**adviser**
**Name**
**Address**|||
||||
||||
||||
||||
|**Name of chief executive or names of senior staff members (Optional information)**|||
||||
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Olabode Awogbade **Position (eg Secretary,** Chair **Chair, etc) Date** 28/10/2024
**MAGNIFY COLLECTIVE**
**1197908**
**CC16a**
## **Receipts and payments accounts**
**For the period** 01-Jan-23 31-Dec-23 **To from**
## **Section A Receipts and payments**
|**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**|**Unrestricted**
**funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**|
|---|---|---|---|---|---|---|---|---|---|
|
Donations|**221,845**||**-**||**-**||**221,845**||**119,775**|
|Other Income|**4,968**||**-**||**-**||**4,968**||**26,517**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_**_(Gross income for AR)_|**226,813**||**-**||**-**||**226,813**||**146,292**|
|||||||||||
|**A2 Asset and investment sales,**
**(see table).**||||||||||
||**-**|||||||||
||**-**||||||||**-**|
|**_Sub total_**|**-**||||||||**-**|
|**_Total receipts_**
**A3 Payments**||||||||||
||||||||||**146,292**|
|||||||||||
|
Staff Costs|**106,668**||**-**||**-**||**106,668**||**81,140**|
|Digital & Media|**113,395**||**-**||**-**||**113,395**||**6,074**|
|Magazine Publication|**-**||**-**||**-**||**-**||**39,857**|
|Administration & Operational Costs|**10,428**||**-**||**-**||**10,428**||**10,183**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_ **|**230,491**||**-**||**-**||**230,491**||**137,254**|
|||||||||||
|**A4 Asset and investment**
**purchases, (see table)**||||||||||
||**-**|||||||||
||**-**|||||||||
|**_Sub total_ **|**-**||||||||**-**|
|**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||||||
||||||||||**137,254**|
|||||||||||
||**- 3,679**||||||||**9,038**|
||**-**||||||||**-**|
||**11,178**||||||||**2,140**|
||**7,499**||||||||**11,178**|
## **Section B Statement of assets and liabilities at the end of the period**
|CCXX R1 accounts (SS)
**Categories**
**B1 Cash funds**|1
Bank Balance
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))|**Unrestricted**
**funds**
**to nearest £**
**7,499**
**-**
**-**
**7,499**
OK|**Restricted funds**
**to nearest £**
**-**
**-**
**-**
**-**
OK|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|---|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||28/10/202
OK|
CCXX R1 accounts (SS)
|Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|Signature
**Details**
**Details**
**Details**
**Details**|**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
Olabode Awogbade|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**When due**
**(optional)**|
|||||
|||||
|||||
|||||
|||||
|||||
||||Date of approval|
|||Olabode Awogbade|30/09/2024|
|||||
CCXX R2 accounts (SS)
28/10/2024
2
## **Independent examiner's report on the accounts**
## **Section A Independent Examiner’s Report**
**Report to the trustees/ MAGNIFY COLLECTIVE members of On accounts for the year** 31 December 2023 **Charity no** 1197908 **ended (if any) Set out on pages** 9 (remember to include the page numbers of additional sheets)
- I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 12 / 2023**
- **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
* _Please delete the words in the brackets if they do not apply._
||*_Please delete the words in the brackets_|_apply._|
|---|---|---|
||||
|**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**(if any):**
**Address:**
||24 October 2024|
||||
||Anu-Oluwapo Oyedayo FAGBENRO||
||||
||FCA – Institute of Chartered Accountants of Nigeria (ICAN) (MB004341)||
||||
||61 Spriggs Close, Clapham, Bedford MK41 6GD||
||||
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1
**October 2018**
**IER**
**Section B Disclosure**
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
2
**October 2018**
**IER**