POVERTY ALLEVIATORS
Charity No. 1198091
Trustee's Annual Report and financial statements
31 March 2025
POVERTY ALLEVIATORS CONTENTS
| Pages | |
|---|---|
| Details of Charity, Trustees and Advisers | 1 |
| Trustees Annual Report | 2-3 |
| Independent Examiner's report | 4 |
| Statement Of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes To The Accounts | 7-13 |
| Detailed Statement Of Financial Activities | 14-15 |
POVERTY ALLEVIATORS CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | Ibrahim Leo Ameh |
|---|---|
| Melissa Selina Jamart-Antoine | |
| Eunice Aleixo Portimao | |
| Charity Number | 1198091 (England and Wales) |
| Registered Office | 760 High Road London London |
| N12 9QH England | |
| Accountants | PAUL VICTORIA & CO 2ND FLOOR |
| 134 SOUTH STREET ROMFORD | |
| ESSEX RM1 1TE |
1
POVERTY ALLEVIATORS TRUSTEES ANNUAL REPORT
The Trustees present their annual report together with the financial statements of the POVERTY ALLEVIATORS for the 1 April 2024 to 31 March 2025.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Structure, governance and management
a. Constitution
POVERTY ALLEVIATORS is a registered charity, number 1198091, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) 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.
2
POVERTY ALLEVIATORS TRUSTEES ANNUAL REPORT (CONTINUED)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 29 April 2026 and signed on their behalf by:
................................................ Ibrahim Leo Ameh
3
Independent examiner's report to the Trustees of POVERTY ALLEVIATORS
We report to the charity Trustees on our examination of the accounts of the Charity for the year ended 31 March 2025
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
We report in respect of our examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts 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.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our work or for this report
Signed: Date: 29 April 2026 Olusola Olalekan Shokunbi FCCA Paul Victoria Accountants
2nd Floor, 134 South street, Romford, Essex RM1 1TE
4
POVERTY ALLEVIATORS STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2025
| Notes Income and endownments from: Donations, Legacies and Gift Aid reclaim 4 Total Expenditure on: Raising funds Charitable activities 5 Other 6 Total Net gains on investment Net(expenditure)/income Transfers between funds Net(expenditure)/income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestrict ed funds 2025 £ 126,002 |
Restricte d funds 2025 £ - |
Total Funds Total Funds 2025 2024 £ £ 126,002 197,245 126,002 197,245 - - 69,100 204,855 68,954 - 138,054 204,855 - - (12,052) (7,610) - - (12,052) (7,610) - - (12,052) (7,610) 12,704 20,314 652 12,704 |
|---|---|---|---|
| 126,002 - 69,100 68,954 |
- - - - |
||
| 138,054 - |
- - |
||
| (12,052) - |
- - |
||
| (12,052) - |
- - |
||
| (12,052) 12,704 |
- - |
||
| 652 | - |
5
POVERTY ALLEVIATORS BALANCE SHEET
as at 31 March 2025
| Notes Fixed assets Tangible Asset 7 Current Assets Cash at bank and in hand Net Current Assets Creditor: Amounts falling due within one year 8 Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 9 Restricted income funds Unrestricted funds 9 General funds Reserves 9 Total funds |
2025 £ - - 4,412 4,412 4,412 (3,760) 652 652 652 - - 652 652 652 |
2024 £ 10,894 |
|---|---|---|
| 10,894 4,610 |
||
| 4,610 | ||
| 4,610 (2,800) 12,704 |
||
| 12,704 | ||
| 12,704 | ||
| - | ||
| - 12,704 |
||
| 12,704 | ||
| 12,704 |
The financial statements on pages 5 to 15 were approved by the Trustees on 29 April 2026 and were signed on its behalf by:
Ibrahim Leo Ameh Chair of Trustees
6
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts inaccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)(effective1 January 2015) -(Charities SORP(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies(valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluationfunds These are unrestricted funds which include are valuation reservere presenting the restatement of investment assets at their market values.
Income
Recognitionof income Income is included in the Statement of Financial Activities (SoFA)when the charity becomes entitled to,and virtually certain to receive,the income and the amount of income can be measured with sufficient reliability.
Income with Where income has related expenditure the income and related expenditure is reported related expenditure gross in the SoFA. Donations and Voluntary income received by way of grants,donations and gifts is included in the SOFA Legacies when receivable and only when the Charity has unconditional entitlement to the income. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses)on This includes any gain or loss resulting from revaluing investments to market value at revaluation of fixed the end of the year. assets Gains/(losses) on This includes any gain or loss on th esale of investments. investment assets
7
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
Expenditure
Recognition of Expenditure is recognised on anaccruals basis.Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to whch it relates. Expenditure on These comprise the costs associated with attracting voluntary income,fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of it sactivities and charitable activities services in the furtherance of its objects,including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrualf for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutionaland statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Taxation The charity is exempt from corporation tax on its charitable activities.
Intangible fixed assets and amortisation
Intangible fixed assets(including purchase dgoodwill,patents and trademarks) are carried at cost less accumulated amortisation and impairement losses.
Stocks
Stock is included at the lower of cost or net realisable value.Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand,demand deposits with banks and other short-term highly liquid investments with original maturties of three months or less and bank overdrafts. In the statement of financial position,bank overdrafts are shown within borrowings or current liabilities. In the Statement of CashFlows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demandand form an integral part of the company's cash management.
8
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
Trade and other creditors
Short term creditors are measured at the transaction price.Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charityare translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of charity are recorded at the rate of exchange on the date that the transaction occurred.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and the reduction of the lease obligation so as
to achieve a constant rate of interest on the remaining balancy of liability. Finance expenses are recognised immediately, unless they are directly attributableto qualifying assets, in which case they are capitalised in accordance with the charity's spolicy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, suchi ncentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been the company has no further payments obligations. The contributions are recognised as expenses when they fall due.Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held seperately from the company in independently administered funds.
2. Company status
The CIO is a registered Charity organisation and consequently does not have share Capital.
9
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
3 Statement of Financial Activities-prior year
| Unrestricted funds Restricted funds 2024 2024 £ £ Income and endowments from: Donations and Legacies 197,245 - Total 197,245 - Expenditure on: Raising funds - - Charitable activities 204,855 - Other - - Total 204,855 - Net expenditure (7,610) - Transfer between funds - - Net Income before other gains/(losses): (7,610) - Other gains and losses: - - Net movement in funds: (7,610) - Reconciliation of funds: Total funds brought forward - - Total funds carried forward (7,610) - 4 Income from donations, legacies and Gift Aid reclaim Unrestricted funds Total 2025 £ £ Donations and Legacies 106,502 106,502 Gift Aid Reclaim 19,500 19,500 126,002 126,002 |
Total funds 2024 £ 197,245 |
|---|---|
| 197,245 - 204,855 - |
|
| 204,855 | |
| (7,610) - |
|
| (7,610) - |
|
| (7,610) - |
|
| (7,610) | |
| Total 2024 £ 197,245 - |
|
| 197,245 |
10
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
5 Expenditure on charitable activities
| 5 Expenditure on charitable activities | |||
|---|---|---|---|
| Expenditure on charitable activities 6 Other expenditure Motor and travel costs Premises costs General administrative costs Governance costs |
Unrestricted fuds 2025 £ 69,100 69,100 Unrestricted funds 2025 £ 4,300 45,000 18,694 960 68,954 |
Total 2025 £ 69,100 69,100 Total 2025 £ 4,300 45,000 18,694 960 68,954 |
Total 2024 £ 204,855 |
| 204,855 | |||
| Total 2024 £ - - - - |
|||
| - |
11
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
| 7 Tangible fixed assets Office Equipment £ Cost or revaluation Additions - at 31 March 2024 - Depreciation and impairement At 1 April 2024 21,740 Depreciation charge for 10,894 the year At 31 March 2025 32,634 Net book values At 31 March 2025 - At 31 March 2024 10,894 8 Creditors Loan to member Accruals 9 Reserves £ £ Restricted funds: Restricted income funds: - - Total - - Unrestricted funds: General funds 12,704 126,002 12,704 126,002 |
TFA3 £ - - - - - - - 2025 £ - (3,760) (3,760) £ - - 138,054 138,054 |
Investment £ - - - - - - - £ - - - - |
Total £ - |
|---|---|---|---|
| - | |||
| 21,740 10,894 |
|||
| 32,634 | |||
| - | |||
| 10,894 | |||
| 2024 £ - (2,800) |
|||
| (2,800) | |||
| £ - |
|||
| - | |||
| 652 | |||
| 652 |
12
POVERTY ALLEVIATORS NOTES TO THE ACCOUNTS
10 Related party disclosures
Nothing to report for the year.
13
POVERTY ALLEVIATORS DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2025
| Unrestricted funds 2025 £ Income and endowments from: Donations and Legacies 106,502 Gift Aid Reclaim 19,500 126,002 Total income and endownments 126,002 Total of expenditure on raising funds - Charitable activities 69,100 69,100 Total of expenditure on charitable activities 69,100 Motor and travel costs Vehicles-General costs - Vehicles-Fuel 4,300 Vehicles-Insurance and licences - Vehicles-Repairs and maintenance - Travel and subsistence - 4,300 Premises costs Rent 45,000 45,000 |
Total funds Total funds 2025 2024 £ £ 106,502 160,097 19,500 37,148 126,002 197,245 126,002 197,245 - - 69,100 204,855 69,100 204,855 69,100 204,855 - - 4,300 - - - - - - - 4,300 - 45,000 - 45,000 - |
|---|---|
14
POVERTY ALLEVIATORS DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2025
| General administrative costs, including depreciation and amortisation Advert Stationery and printing Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investment Net(expenditure)/income Transfers between funds Net(expenditure)/income before other gains/(losses) Other Gains Net movement in funds |
10,894 2,700 2,500 2,600 18,694 - 960 960 68,954 138,054 - (12,052) - (12,052) - (12,052) |
10,894 2,700 2,500 2,600 18,694 - 960 960 68,954 138,054 - (12,052) - (12,052) - (12,052) |
- - - - |
|---|---|---|---|
| - | |||
| - - |
|||
| - | |||
| - | |||
| (7,610) - |
|||
| (7,610) - |
|||
| (7,610) - |
|||
| (7,610) |
15