ENI-ITAN BAJOMO MEMORIAL TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2025 Page 1
CONTENTS PAGE NO. ChARITY INFORMATION TRUSTEE'S REPORT INCOME AND EXPENDITURE ACCOUNT BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 10-13 Page 2
CHARITY INFORMATION CHARITY REGISTRATION NO: 1198263 TRUSTEES: Pastor Abimbola Olaide Odunsi - Chair Adetoyese Adedeji Olayinka Bajomo Stephen Adebowale Adepegba Bolarinwa Adepegba Aderonke Oluseyi Emmanuel SECRETARY: Olubunmi Awe REGISTERED OFFICE: 28 Sawyers Court CHATHAM ME4 ACCOUNTANTS: GV Accounting Services LTD 6 Tyfield Close Cheshunt EN8 8QP BANKERS: CAF (Charities Aid Foundation) 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA Page 3
ENI-ITAN BAJOMO MEMORIAL TRUST Trustees Report for year ended 31 March 2025 Objectives and Activities Objectlves and Aims The Charity's Objects are, for the benefit of the public:_ 11 The Prevention or Relief of Poverty and poverty and finarbcial hardship in Nigeria and anywhere else in the world, in these main areas- EdLJcation and Welfare. Empowering and carving an enviable future for young persons., 21 The advancement of the Christian religion to show the love of Jesu5 Christ bv undertaking objective 111 above 31 To promote the efficiency and effectiveness of other charitie5 whose object5 are similar to those of the Charity.. and 41 The furtherance of the charitable work of the Charity by the advancement of such other charitable purp05e5 as the TIu5tee5 shall from time to time decide. Slgnlflcant actlvlt5es During the year the Charity has been compliant in the execution of its public benefit responsibilities by undertaking an exercise to identify orphans in Nigeria who were unable to continue their education due to financial hardship and sponsoring such children for their education All activities of the charity are for public benefit. Strategies for achieving objectives Our Strategy EDUCATION: This has been done this year by supporting the education of underprivileged young people from pritnary to tertiary level. ENIMET obtained referra15 from e5tabli5hed orphanages and education providers who had previously vetted the applicants and then recornmended eligible candidates to ENIMET. Thi5 method ensured a fair and judiciou5 process of choosing the right people for sponsorship. ENIMET'S Educational Grants Programme this vear has helped individual students io begin their studies as well as support existing students to continue and complete their studies. WELFARE: Our future plan 15 that dorb3tion5 towards ENIMET'5 community development projects will provide struggling communities with svstainable infrastructures that would L7ring succor to their sufferings and make them function effectively. Page4
Attivities for carrying out objèctivés The activities undertaken during the reporting period include the following. 11 The fund-rais ing Gala Night was held on Saturday 19110124.. This was a well-attended ticketed event. Tickets were sold for E75 per person and presentations were made about the mission and vision of ENIMET. There was a successful drive for new spon50r5 with prospective sponsors encouraged to sien-up to be regular givers by signing up for a Direct Debit or Standing Order. There were also a number of items donated for the raffle event which also raised substantial funds. The event included a presentation video about th e Charity wh ich was shown. and the heads of the Education Committee and Finance Committee took turns in speaking aL70Ut the activities and tasks that their comrnittees were responsible for. The event also ifbcluded a dinner and dance segment. Th is is the annual fund raiser event of the charity 21 Presentation of Scholarships to the Beneficiaries of ENIMET Ch arity.. This event is held annually on the 18th of October as that 15 the Birthday of Eni-itan Bajomo the person who the Charity was created in memory of following her tragic death in 2020 after a motor accident on the Mll on 2719120. This year's event saw 10 children given scholarsh ip awards at a well-attended presentation event in Lagos, Nigeria Volunteers The effort, commitment and 5ki115 of our volunteer5 are at the heart of our organisation. Incoming volunteers will attend a full induction programme including famili3risation with our various policies and procedures such a5 our Health and Safety Ptslicy. Some of our long- standing volunteers have worked with us for considerable periods contributing invaluable time and Skills, not to mention institutional memory. to the organisation. ENIMET has strong volunteer support. As part of the Christian ethos of -the Giving of Time and Talents" we are pleased that 50 many people volunteer to help in all the different areas of the activities of ENIMET primarily in raising funds, but also as being mentors and buddies to some of the children that we 5pon50r. Pald Staff ENIMET does not have any paid staff Review of a¢tivities We undertake regular reviews of our activities via lesson learnt activities for every event and this helps us to capture learning and apply it to future activities. We have 2 main activities every year. namely., The Annual Scholarship Award Event in Lagos, Nigeria on the 18th of October every year and The annual Fund-raising Gala Nite event. which is normally held on the 3rd Saturday of October in London. United Kingdom. Page5
Funding and finante The total funds raised in the reporting year of £17.571 is an excellent improvement on what we 3 ch i eved last yea r 1 £9,295 l. We hope to build on this in future years. Future developments We will look to maximize the new technology and digital solutions to enhance giving opportunities. We also look to expand the support given to students to become more holistic by appointing mentors and buddies to each student- th ereby p rov iding them with a source of mental and physical Support 35 well as financial 35515tance. In some cas e5, th e mentor5 will also be role models for the students and help them channel their ambitions. We also plan to look at opportunities to partner with similar charities Wlth value5 and v isions that align with ou rs. Risk management The trustees have assessed the major risks to which the charitable company is exp05 ed. particu larly th ose related to th e operations and finan ces of th e ch arity, and they are satisfied that Sy5tem5 3re in place to mitigate ou r exposure to the major risks. STATEMENT OF TRUSTEE RESPONSIBILITIES The trustees are respon sible for preparing the Report of the Trustees and the financial statemen ts in accordance with applicable law and Un ited Kingdom Accou nting Standards (united KingdcTrm Generally Accepted Accounting Piacticel. Company law applicable to charities in England and Wales. the Charities Act 2011. Charity Regu lations 2008 and the p rov isions of th e trust deed requ ires the trustees to prepare financial s tatement5 for each (Accoun t5 and Reports I financial year wh ich give a true and fair view of th e state of affairs of th e charity and of the incoming resou rces and application of resource5, including the income and expenditu re of the charity for that period In preparing those financial statements. the trustees are required to.. Select suitable accounting policies and then apply them consistently.. Observe the methods and principles in the Charity SORP- Make judgements and estimates that are reasonable and prudent- Prepare the financial st3tement5 on the going concerrb basis unle55 It 15 inappropriate to presume that the Charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial Statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the asseis of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page6
Th is report is prepared in accordance with the special provision of Part IS of the Companies Act 2006 relating to small companies. Approved by order of the Board of Trustees on 16, November 2025 and SiEned- ON BEHALF OF THE BOARD: Pastor Abimbola Odunsi Chair of the Board of Trustee Page 7
ENI-ITAN BAJOMO MEMORIAL TRUST STATEMENT OF FINANCIAL A1VITIEs INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 March 2025 Total Tot#1 Lllre5tricted Designated Re5triited 2,025 2,024 Notes Incoming Resources liic'uming resuiiFcvsfFVIII sgnei-aledfund5 DLinations, Legacie5 & Other Voluntary Incorne Loans 17.571 17,571 939S Investtnent Income Total ItLcomiDg Re50urce5 17,571 17,571 9,295 Resources F.xpended Cost of generaiing Voluntary InLome Fundraising trath.ng Losts of 8d5 bvld 3.690 3.690 3.308 Charirahlc ALtivities Admin & Gol'emance Cosi Other L05t5 of ¥¢llerating fuDd5 Tot21 Resources F.Ypend¢d 2,662 381 2,662 381 1,581 520 733 6,73.1 Net Incomillg(olltgoiDg) resource5 111.t138 111.83¥ 3,886 BroU)t foTh4'ard froln prcl'ious year Loon RepaymentlFund Depreciation Surplusl(Defieit) carried forri#rd 21,325 17,439 21.125 Thc %taiLmcni of financial aciiyirios also complics thc rcquircrncni for an incornc and cxpcnditurc account ullder the Companies Act 2016. None of the charity5 activities w'hich were started or discontinued dunno operations colltiDUe. the current or PTevious )'ear and all. There ale tLO recognised uains or1055e5 or than those passing ihrough ihe incoTne and expenditure aceount. Page 8
ENI-ITAN BAIOMO MEMORIAL TRUST Balance Sheet As at 31 March 2025 2025 2024 Fixed Aet TangTibl¢ Assets Curr¢nt A4%e¢ Dehtor Cash ai bank & in hand 19.5( 12.657 17,439 4528 Current Liabilities Amount falling due within one year 164•} Net Current Asset 32.163 21.325 Total A55et lesA Current Liabiliti Creditors.. Amount falling due after one year et Assets The Fundq of the Charit). Uniesliicttd ReslriLled Total Fundq 32.163 21,32.S Foi the year eniJiD¥ 31st m( 20?5, the cotDpaDy wa5 eDliiled lo exernplioll from audii under scction 477(21 of the Companics Act 2016. Thc memrS have not requircd the company to obtain an audit in accordance with section 476 ofihe Companie5 Act 2016. The Directorfsl-.- al acknowledge their SponsIbl11ry in ensuring ihai ihe Compally keq)s acCoU]ng reconls which comply with section 386 of the Companies Act 2016.. and bi a¢kno.1¢d¥¢ Iheir [trn57b11]¢Y for preparin¥ a¢¢ounis which ¥7¢ a tyue and lair i'ie%' ofthe bia¢e of allait5 ofihe cofflpally a5 al ihe end of the liiiaDcial year. aDd of its profil or Ios5 for ihe financial year. in a¢cordance wilh ihe requiremeni of seciion 393 of the Companies Aci 2016. and .hich othen¥i5c comply with th¢ Cotnpanie5 Arl relating lo accounts, 50 far a5 applicable to this company. These aLcounis have been prepared in a¢¢ordan¢e with previo applirable to companies subjeci io the Small Companies regime. The a¢¢ounts were approed by rhe Board on..... ..DirecLor Pasto.i.Abimbola.Q.laid.¢..Qd.uDsi.... Print Name Page 9
ENI-ITAN BAJOMO MEMORIAL TRUST Notes to the Financial statements Forthe period ended 31 March 2025 l Accounting policies al Basis of preparation - the financial statements have been prepared under the historical cost. convention. The charity has taken advantage of the exemption in Financial Reporting Standard No I from the requirement to produce a cash flow statement on the grounds that it is a small charity. The accounts have been prepared in accordance with the statement of recommended practice, ' Accounting and Reporting by Charitie5" issued in March 2005 and the Companies Art 2016. bl Incoming rèsources- Restricted grant5 received in advanie at the year end for expenditure in a future accounting period are carried forward as differed income. Restricted grants received but not fully utili5ed at the year end are carried forward balances on the ba515 that they may become repayable. VolLJntary donations and gifts are accounted for as recewed. Public. No entries are quired to be included in the accounts for the financial value of such help. Interest receivable on the charity's various bank accounts is allocated in full to unrestricted funds. cl Resources Expended 11 Cost of generating voluntary funds these includes printin& publitity and fundraisingtosrs. Publicity costs include promotional costs for awardee events and multimedia expenses ill Charity Activities Resources expended on charitable activiries include all costs incurred in the pursuit of the chzritable objert5 of the charity (including Community function costsl iiil Govèrnancè Costs Governance costs include the cost of the independent Reviewer tOEether with the cost of the AGM and trustees insurance. iv) Oepreciation All assets costing more than £150 are capitalised. Tangible fixed assets other than freehold land are stated at cost less depreciation. DepCiatIon is provided at rates calculated to write-off the cost less estimated residual value of each assets over its expected useful life as follows: Fumiture. Fitting and other equipment Computers/Equipment Motor Vehicles 33% on cost I(XM on cost 25% on cost Page 10
vl General information= the General Funds & Investments funds received during the year has been utilised entirely for the purpose for which the charity was set up vi} Financial obligation5'. Apart from the financial obligations described below. there are no other financial obligation 2 Incomé Rèsourtes analysis Un• Designated Restrirted restricted 2025 2024 Totsl Total Furhds generated from fund raising aCtItieS Loans 17.571 17.571 9.259 17.571 17.571 9,259 Taxatlon The company being a registered charity with no trading income has been granted exemption from tax under section SQ5 of ICTA 1988. No provision for tax3tion ha5 therefore been made in these ccount5. The Charity is not registered for Value Added Tax. Page 11
4 Total Resources Expended staff Other Total 2025 Total 2024 Cost of generating funds.. Fundraising and Publicity 3.690 3.690 3,308 Charitable Expenditure.. Direct Project costs Staff & Volunteer Costs Premises costs Legal & Professional costs Adrninistration costs 2.662 2.662 1.581 381 3.043 381 520 2,101 Management and administration 3.043 2,101 6.733 6.733 5,409 5 Creditors Amount falllng due within one year 2025 2024 Trustee's Loan Independent Examiner's Fee Other Creditors Page 12
Reserves Policy The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitment5 held. The trustees, aim to ensure the charity will be able to to continue to fulfil its charitable objective even if there is a temporary shortfall in income or unexpected expenditure for a period of 6 months. The director's will endeavour not to set-aside funds Page 13