THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 CHARITY REGISTRATION NUMBER:1198684 THE RUFINA CHILDRENS FOUNDATION Unaudited Financial Statements 31 December 2024 KAJ ASSOCIATES Chartered accountants 6 Markland Close Chelmsford London CM2 8RZ THE RUFINA CHILDRENS FOUNDATION Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees 15 Statement of financial activities 16 Statement of financial position 17 Statement of cash flows 18 Notes to the financial statements 19 THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024 Reference and administrative details Registered charity name THE RUFINA CHILDRENS FOUNDATION Charity registration number 1198684 Principal office CEME Launchpad Centre Marsh Way Rainham Essex RM13 8EU The trustees Dumebi Onuora Onyinye Abasilim Elizabeth Ekenna Victoria Onuora Independent examiner KAJ Associates 6 Markland Close Chelmsford Essex CM2 8RZ THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 1. STRUCTURE, GOVERNANCE AND MANAGEMENT 1.1 Governing Document The Rufina Children's Foundation (RCF) is a registered Charitable Incorporated Organisation (CIO), established on 21 April 2022 under charity number 1198684. It is governed by a Foundation Model Constitution, which outlines the objectives, powers, and procedures for governance. The charity operates for the exclusive purpose of advancing education and relieving hardship, particularly among vulnerable and displaced children in Africa and underserved communities in the UK. The Foundation Model allows for a streamlined governance structure where the charity trustees are the sole voting members. The constitution states that trustees serve a three-year term, after which they may be reappointed. The constitution also stipulates that at any time, the charity must have at least three trustees. In the event of dissolution, all remaining assets must be used for charitable purposes consistent with the objectives of the organisation. In 2024, RCF formally expanded into the United States and is now legally registered and recognised as a charitable organisation under California state law and federal tax law. RCF has been granted 501 (c)(3) status by the Internal Revenue Service (IRS), confirming its exemption from federal income tax and enabling U.S. donors to make tax-deductible contributions. This milestone significantly strengthens the charity's ability to raise funds and implement programmes across both sides of the Atlantic. In both jurisdictions, the charity is bound by governing documents that ensure its assets and activities remain exclusively for public benefit. In the event of dissolution, all remaining assets must be used for charitable purposes aligned with its objectives. 1.2 Recruitment and Appointment of Trustees New trustees will be appointed through a structured and transparent nomination and approval process in accordance with the Foundation Model Constitution. When selecting new trustees, the board assesses the current skill mix, gaps, and the charity's strategic needs. Priority is given to candidates with expertise in child protection, programme delivery, legal and financial management, digital transformation, or fundraising. Appointments are confirmed by a board resolution at a properly convened trustee meeting. Newly appointed trustees are provided with an induction pack and briefed on the Foundation's strategic aims, governance requirements, and the legal responsibilities of trusteeship. 1.3 Trustee Induction and Training All new trustees undergo an induction process led by the Chair and existing trustees. This includes: A welcome briefing by the Chair A review of the charity's governing document, key policies, and latest annual report and accounts Orientation on the Constitution and legal obligations under UK and U.S. and Nigeria charity law Introduction to current programmes, financial planning cycles, and reporting structures Familiarisation with Charity Commission and IRS guidance on fiduciary duties Trustees are encouraged to attend relevant external training and briefings, especially on safeguarding, compliance, and digital innovation. Ongoing learning is supported through peer mentoring and regular strategic sessions. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 1.4 Governance and Decision-making The Board of Trustees, based in the UK, is responsible for the strategic direction, oversight, and legal compliance of the charity. Day-to-day operations are delegated to staff, project coordinators and volunteers under the leadership of the trustees. The board meets quarterly to review performance, risk, budgets, programme updates, and major funding decisions. Additional ad-hoc meetings are held when required, especially during high-impact campaigns, funding rounds, or external audits. Trustees are supported by: Country-level advisors and coordinators Strategic volunteers and programme leads operating across education, health, community mobilisation, and safeguarding Local governance compliance leads who ensure country-level operations remain aligned with national laws and reporting standards Decisions are made by majority vote. Quorum is required for all official resolutions, and the Chair holds a casting vote if necessary. 1.5 Management Structure and Delivery Model The operational delivery of RCF'S mission is grounded in grassroots action and strategic partnerships. The Foundation: Is governed by four active trustees in the UK Works with over a dozen local volunteers in the UK and other countries. Partners with trusted local organisations. Contracts teachers, health workers, and community mobilisers to deliver core programmes RCF operates a decentralised delivery model, rooted in grassroots engagement and supported by strong central governance. The structure includes: UK: Board of trustees and operational oversight, responsible for strategic planning, finance, and donor engagement USA: The trustees are in the process of setting up the US structure which will include the U. S. programme and compliance lead, donor relationship management, and foundation liaison Nigeria: Local project leads, social workers, teachers, and volunteers delivering school sponsorship, trauma care, and humanitarian support This model ensures that programme delivery is culturally relevant, locally led, and globally accountable. 1.6 Risk Management The trustees have implemented a proactive risk management process. An annual risk register is reviewed to assess operational, reputational, legal, and financial risks. Key mitigation actions in 2024 included: Prudent budgeting and holding funds in local currencies where possible to mitigate the risk of foreign exchange volatility Strengthening due diligence processes for partners and volunteers abroad Adopting formal safeguarding protocols aligned with UK charity standards rovin data handlin and di ital asset securit THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 No significant governance failures were identified during the year. The trustees are satisfied that the systems and controls in place are proportionate and effective for a charity of our size. 1.7 Organisational Structure The Rufina Children's Foundation (RCF) operates with a governance and operational framework spanning three jurisdictions: the UK, USA, and Nigeria. The UK-based Board of Trustees holds ultimate strategic, financial, and legal responsibility. Delivery is fully localised. Projects are implemented through trusted partners and local staff with strategic oversight and governance anchored in the UK. 1.8 Related Parties No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. 1.9 Objectives and activities The RCF works across the UK and Nigeria to fulfil its mission of equipping vulnerable children and their families with education, health support, and dignity-restoring essentials. Our charitable objectives and methods of delivery in 2024 include: Prevention or Relief of Poverty Bathing & Laundry Soaps: Distributing affordable hygiene products to families living in Internally Displaced Persons (IDP) camps across Nigeria. Small donations (£3.99 each) help ensure children can stay clean and protect against waterborne diseases. This public health initiative is particularly vital in crowded camp settings where sanitation is a major concern. Shoes for School: Providing school shoes or cash equivalent to reduce barriers to education. Many children cannot attend school due to lack of proper footwear; this initiative helps them attend safely and confidently 2. Advancement of Education Books & Libraries: Supplying books and establishing libraries in schools and IDP camps in Nigeria. Access to age-appropriate learning materials supports literacy and numeracy- especially where infrastructure is limited. Tele-learning Booths & Renewable Energy: Addressing energy poverty by installing solar- powered tele-learning booths in communities without reliable electricity. These booths enable remote learning, digital literacy training, and connectivity for underserved children and teachers. 3. Advancement of Health or Saving Lives Telemedicine Consultation: Delivering remote medical consultations for children in IDP camps, combined with distribution of therapeutic food supplies to malnourished children. This project expands access to healthcare where clinics are scarce or overwhelmed Water as a Right for Children: Providing clean water and sanitation support in camps to THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 mitigate outbreaks of waterborne illness. This includes water treatment services and hygiene awareness to improve child and family health. 4. Relief of Those in Need Due to Disadvantage These projects address the broader needs of vulnerable populations, such as displaced children and families impacted by conflict or poverty. Support includes clothing, hygiene kits, nutritional assistance, and psychosocial care, aligning with RCF'S established ethos of holistic support 1.10 Delivery Methods Direct Programme Implementation: RCF partners with local teams and grassroots organisations in Nigeria and Cameroon to design and administer projects. This includes appointing programme coordinators, volunteers, and specialists to oversee logistics and impact monitoring. Digital Innovation and Sustainable Tech: Incorporating renewable energy and tech-enabled solutions, such as solar-powered telemedicine and tele-learning booths, to overcome infrastructure constraints and create scalable, durable impact 1.11 Who We Serve Children and Youth in displaced or underserved communities in Nigeria and Cameroon Caregivers and families experiencing economic hardship, displacement, or social marginalisation School-age children lacking access to basic educational tools such as shoes, books, and libraries Communities in energy-scarce settings, where telehealth and remote learning solutions can offer lifeline services AII RCF projects are designed in line with Charity Commission guidelines on public benefit and aim to deliver sustainable, dignified support to individuals experiencing acute disadvantage. 1.12 Public Benefit The trustees have had due regard to guidance published by the Charity Commission on public benefit and consider that the charity complies with the requirements. When planning our activities for the year, the board of trustees have considered the commission's guidance on public benefit. Our objectives are designed to help some of the world's poorest displaced and homeless people gain access to basic education, food, books and tools connected to educational training requirements. 2. ACHIEVEMENTS AND PERFORMANCE In 2024, the Rufina Children's Foundation (RCF) continued to expand its impact across three interconnected fronts: international child protection advocacy, humanitarian relief, and community empowerment. Our work this year has been guided by a bold vision-to ensure that no child is harmed by war, displaced without dignity, or left behind due to poverty. 2.1 Organisational milestones The RCF significantly expanded its UK operations by hiring multiple full-time staff members and recruiting additional volunteers. This expansion boosted capacity for campaign delivery, event coordination, donor stewardship, and logistics. It also allowed the organisation to engage directly with more families and coordinate support for over 320 families in the UK and Nigeria during the year. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 Volunteers became more formally integrated, contributing across campaign planning, fundraising, distribution drives, and outreach communications. Enhanced volunteer support resulted in greater reach and efficiency across the charity's programmes. U.S. Establishment and Legal Recognition In 2024, RCF formally established a legal presence in the United States, including recognition as a California-registered charity and obtaining 501 (c)(3) status from the IRS. This legal milestone enables U.S. donors to make tax-deductible contributions and positions RCF to access U.S.-based grant funding and institutional partners. The trustees are aware of how cross-country laws govern the legal and operational relationship between RCF'S UK and U.S. entities. As such, the trustees: Are aware of shared governance protocols, ensuring coordinated strategic oversight across both jurisdictions. Aim to continually establish financial transparency and exchange control standards, clarifying fund movement, accountability, and compliance under both Charity Commission and IRS rules. Commit to adhering to ensure that data protection, safeguarding policies, and reporting obligations are harmonised across the UK and U.S. entities, ensuring unified standards of child protection and regulatory compliance. 2.2 Launch of the Global Treaty for the Absolute Protection of Children from Warfare One of the Foundation's most groundbreaking achievements this year was the formal development and global advocacy of the Global Treaty for the Absolute Protection of Children from Warfare and Armed Conflict. Treaty Drafting and Publication: We first published the Zero Draft v1 (November 2024), which outlines a legally binding framework to prohibit all forms of warfare and armed conflict in areas where children are present. The draft introduces critical innovations such as Child Protection Zones (CPZS), absolute legal deterrence principles, and mechanisms for international legal enforcement. Policy Brief Dissemination: A companion Policy Brief v1 was developed to support diplomatic outreach and civil society engagement. It highlights the global urgency of the issue, referencing UNICEF data estimating over 468 million children live in conflict zones, and outlines the gaps in current international protections. Engagement with Stakeholders: Initial briefings were held with global child rights advocates, faith- based organizations, legal scholars, and humanitarian leaders. A phased roadmap was established to encourage early adoption by coalitions such as the African Union and Latin American regional blocs, with the goal of eventual presentation at the United Nations General Assembly. Nigerian Contextual Relevance: The treaty's urgency was underscored by data from the 2021 Humanitarian Needs Overview for Nigeria, which reported that over 8.7 million people, including millions of children, continue to suffer from insecurity due to violence in the North-East region. RCF'S leadership in this space has drawn attention to Nigeria's humanitarian crisis on the global legal stage. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 2.3 Expansion of Core Humanitarian Programmes Programme and Campaign Highlights Shoes for School This programme aimed to reduce the number of out-of-school children by addressing a frequently overlooked barrier: the lack of basic footwear. In 2024, we distributed over 600 pairs of shoes to children across Kaduna, Lagos, and Enugu states in Nigeria. Partnered with local schools and community leaders to identify children most in need. Facilitated shoe donations in Nigeria and purchased shoes to use for the drive. Early feedback from schoolteachers noted improved attendance and morale among recipient pupils. 11. Bathing & Laundry Soaps for Displaced Families Promoting hygiene and dignity, this project provided essential soap supplies to children and families in Internally Displaced Persons (IDP) camps. Over 1,200 hygiene packs distributed across two IDP sites in Abuja and Borno State. Each pack contained bathing soap, laundry detergent, and feminine hygiene supplies. Supplies were purchased from the UK and Nigeria. Books & Libraries for Learning To combat educational deprivation, RCF expanded its educational outreach by supporting book access and learning space creation. Donated over 1,000 children's books to informal schools and community centres. Launched mobile book corners in two displacement camps. Developed early plans to pilot a solar-powered digital library in 2025. Iv. Telemedicine for Internally Displaced Children This programme was piloted to close critical healthcare gaps in IDP camps through remote consultations and nutritional support. Conducted over 90 telemedicine consultations in partnership with volunteer medical professionals in Lagos and Jos. Deployed health workers with tablets and internet access to deliver care remotely. Distributed Ready-to-use Therapeutic Foods (RUTFS) to 40 malnourished children. Community Relief & Nutrition Drives The RCF conducted four major community outreach events in Nigeria this year, combining food distribution with medical and hygiene services. We also completed food drives in Barking and Dagenham within the UK Served over 2,800 hot meals and distributed staple food items to families during holiday and emergency periods. Distributed 700+ hygiene kits and 250 health check-ups in collaboration with local clinics. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 Partnered with faith-based organisations and volunteers to expand reach. Specifically in the UK, the RCF organised and executed several high-impact campaigns including Winter Drives, Food and Hygiene Drives, Clothing and Toy Distributions. Each campaign was carefully designed to meet holistic needs of disadvantaged children and families in the London Borough of Barking & Dagenham. vi. Water as a Right for Children The RCF continued its advocacy and delivery of clean water in displacement camps. Installed two temporary water stations in collaboration with local engineers. Reached over 500 children and families with safe drinking water and sanitation awareness. Cited by Premium Times Nigeria for addressing the severe public health risks linked to water scarcity and poor sanitation in camps. Renewable Energy for Children's Education Addressing the challenge of energy poverty, we laid the groundwork for energy justice in education. Initiated the design of solar classroom kits for learning centres in rural Nigeria. Collaborated with local renewable energy start-ups to prototype battery-powered lighting for reading at night. Aimed at addressing the challenge faced by over 90 million children in sub-saharan Africa who attend schools without electricity (source: One.org). 2.4 Innovation in Child Safety: Digital Child Protection Zones (D-CPZS) In 2024, RCF formally introduced the concept of Digital Child Protection Zones (D-CPZS) to bring the principles of the Global Treaty into the digital age. We drafted a policy framework advocating for child-safe design in online plafforms used by children. Proposed integration of content filtering tools, child privacy safeguards, and parental awareness tools across schools, libraries, and youth tech hubs. Initiated discussions with digital literacy partners to pilot the D-CPZ model in 2025. 2.5 Operational Capacity Building Over the course of the year, the RCF enhanced its organisational resilience through: Recruitment of key personnel, including administrative and campaign staff based in the UK. Structured volunteer onboarding, moving from word-of-mouth engagement to a more formal volunteer programme, improving programme delivery and accountability Strengthening contractor partnerships, enabling responsive delivery of educational materials, hygiene products, and community support packages as needed throughout the year. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 Summary of Key Achievements, 2024 Area UK Growth Highlights Multiple staff hired; volunteer programme formalised; logistical capacity increased. U.S. Legal Registered in California" IRS 501 (c)(3) status obtained Establishment Campaign Impact Families supported; successful winter, food, hygiene, toy, and clothing drives delivered. Organisational Strength Enhanced operational, compliance, and governance systems across jurisdictions. The RCF Treaty Formal development and global advocacy of the Global Treaty for the Absolute Protection of Children from Warfare and Armed Conflict. THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 3. FINANCIAL REVIEW 3.1 Overview The Rufina Children's Foundation (RCF) has continued to operate in a financially responsible and growth- oriented manner throughout the financial year ending 31 December 2024. Despite macroeconomic challenges, including inflationary pressures and a competitive funding environment, the charity increased its income by nearly 49 % and continued to maintain financial stability while expanding operations in the UK and internationally. RCF reported total income of £209,000 (2023: £140,398), all of which was unrestricted and derived primarily from individual donors and philanthropic networks. This represents a year-on-year increase of £68,602, reflecting improved donor engagement. Total charitable expenditure for the year amounted to £203,802 (2023: £135,178), reflecting increased programme activity, additional staffing, and expanded material support distribution in line with the Foundation's scale-up strategy. The year closed with a surplus of £5,198, increasing total reserves to £11,049 (2023: £5,851). 3.2 Expenditure The increase in expenditure in 2024 is directly linked to the Foundation's expanded footprint and programme growth. 3.3 Principal Funding Sources RCF'S primary source of income remained unrestricted voluntary donations. While there were no restricted funds in 2024, the organisation adhered to internal tracking for donor-directed contributions, ensuring transparency and impact reporting. Looking forward, the charity intends to diversify income further by: Pursuing foundation and institutional grants in both the UK and USA. Developing a Child Sponsorship Programme to secure recurring monthly support. Launching branded fundraising merchandise and seasonal donor appeals. 3.4 Investment Policy The RCF does not currently hold investments. In line with its reserves policy, available funds are held in interest-bearing cash accounts to maintain liquidity. The trustees may consider low-risk investments in the future once reserve thresholds are met consistently. 3.5 Reserves Policy The trustees have reviewed the charity's needs for reserves in light of its current and projected growth. RCF aims to maintain unrestricted reserves equivalent to three to six months of operational expenditure, as a buffer against cash flow disruption and unanticipated costs. As of 31 December 2024, the charity held £11,049 in total reserves, all of which are unrestricted. While this amount is below the ideal threshold based on current expenditure levels. trustees are satisfied with the progress made and are committed to increasing reserves through strategic income growth in 2025. 1Q THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 3.6 Financial Controls and Risk The trustees regularly review financial performance and risk. Controls include: Monthly budget tracking and variance analysis. Multi-person approval for payments and procurement. External independent examination of financial statements. Adherence to both UK Charity SORP and U.S. IRS reporting standards under the new cross- border governance treaty. No fraud, financial irregularities, or material concerns were identified in 2024. 2024 marked a period of dynamic financial growth, consolidation, and reinvestment. The Foundation's ability to significantly scale operations while maintaining a positive net position is proof of prudent management and the generosity of its supporters. The coming year will focus on further income diversification, strengthening reserve levels, and ensuring robust financial governance across all territories of operation. 4. PLANS FOR FUTURE PERIODS 4.1 Expand Programme Reach in Nigeria 4.2 Strengthen U.S. Operations and Donor Engagement 11 THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 4.3 Deepen UK Impact and Local Partnerships Building on successful campaigns in Barking & Dagenham, RCF plans to Expand UK-based support to additional boroughs and councils facing child poverty challenges. Develop formal partnerships with local schools, food banks, and social service organisations to coordinate referral pathways for families in need. Increase the frequency and scale of winter, hygiene, and toy drives, aiming to reach over 1,000 individual beneficiaries by the end of 2025. Offer volunteer internships and placements, helping young people develop skills while giving back. 4.4 Launch the RCF Global Child Sponsorship Scheme In 2025, RCF will introduce a child sponsorship programme, enabling donors to make recurring contributions linked to a specific child's needs. Key features will include A £25-£501month donation model covering education, nutrition, hygiene, and health costs. Regular updates to sponsors on the child's progress. Secure data handling and privacy-compliant reporting mechanisms. Integration with a CRM and donor platform to streamline engagement and retention. This initiative is expected to build consistent income streams and provide deeper donor-child connections, while offering vulnerable children long-term, dependable support. 4.5 Build Core Organisational Infrastructure To support delivery and growth, RCF will Strengthen governance across Nigeria, UK and U.S. entities through aligned policy development, trustee recruitment, and performance review cycles. Recruit additional programme, communications, and fundraising staff as funding allows. Improve financial systems and reporting through use of integrated software Launch a new website and visual identity refresh to better reflect the charity's international stature and inspire wider engagement. 4.6 Advocate for Systemic Change- The Treaty for the Absolute Protection of Children In 2025, the RCF will dedicate more resources to advancing global awareness and political support for its flagship international policy initiative: "The Global Treaty for the Absolute Protection of Children from Warfare and Armed Conflict" In 2025, the RCF will: Publish an updated zero draft and executive summary of the treaty. Organise public exhibitions, academic roundtables, and international forums to promote adoption. Engage with policymakers, humanitarian organisations, and children's rights networks to build momentum. This historic treaty represents RCF'S boldest vision for a world where children are no longer collateral in political violence, and where their presence guarantees peace. The Foundation enters 2025 with renewed purpose and international reach. Through practical, local interventions and visionary global advocacy, the RCF is uniquely positioned to drive meaningful change for children at risk. The trustees are committed to 12 THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 ensuring that each future investment, whether in soap, schooling, or systemic peace, is guided by compassion, evidence, and the enduring belief that every child deserves protection, dignity, and hope. Plans for Future Periods l Expand Programme Reach in Nigeria Increase educational sponsorships, telemedicine access, and partnerships 2 Strengthen U.S. Operations and Donor Engagement Establish an operational base and launch awareness campaigns in USA 3 Deepen UK Impact and Local Partnerships Expand support to additional boroughs and enhance community partnerships in UK 4 Launch the RCF Global Child Sponsorship Scheme Introduce a recurring donation program to fund children's needs 5 Build Core Organisational Infrastructure Strengthen governance, improve financial systems, and recruit staff 6 Advocate for Systemic Change- The Treaty for the Absolute Protection of Children Promote this proposed international treaty Drohibitina war where children are Dresent 13 THE RUFINA CHILDRENS FOUNDATION Trustees. Annual Report Year ended 31 December 2024 5. TRUSTEES. RESPONSIBILITIES STATEMENT The trustees of the RCF are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice). The Trustees, Annual Report prepares for each year financial statements which give a true and fair view of the state of affairs of the Charity and of the results for the year. In preparing these accounts, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and accounting estimates that are reasonable and prudent; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. 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 Companies Act 2006. 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. Financial statements are published on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity's website is the responsibility of the trustees. The trustees, responsibility also extends to the ongoing integrity of the financial statements contained therein. THE RUFINA CHILDRENS FOUNDATION Independent Examiner's Report to the Trustees of THE RUFINA CHILDRENS FOUNDATION Year ended 31 July 2024 I report to the trustees on my examination of the financial statements of THE RUFINA CHILDRENS FOUNDATION ('the charity,) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or the financial statements do not accord with those records. or the financial statements 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. I 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. KAJ Associates Independent Examiner 6 Markland Close Chelmsford Essex CM2 8RZ 15 THE RUFINA CHILDRENS FOUNDATION Statement of Financial Activities Year ended 31 December 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Income and endowments Donations and legacies Total income 209,000 209,000 140,398 209,000 209,000 140,398 Expenditure Expenditure on charitable activities Total expenditure 203,802 203,802 135,178 203,802 203,802 135,178 Net income and net movement in funds 5,198 5,198 5,220 Reconciliation of funds Total funds brought forward Total funds carried forward 5,851 5,851 631 11,049 11,049 5,851 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 16 THE RUFINA CHILDRENS FOUNDATION Statement of Financial Position Year ended 31 December 2024 2024 2023 Note Fixed assets Tangible fixed assets 397 529 Current assets Cash at bank and in hand Other debtors 103 12,222 5,466 Creditors: amounts falling due within one year Net current assets (1,673) 10,652 (144) 5,322 Total assets less current liabilities 11,049 5,851 Net assets 11,049 5,851 Funds of the charity Unrestricted funds 11,049 5,851 Total charity funds 11 11,049 5,851 These financial statements were approved by the board of trustees and authorised for issue on 31 December 2024, and are signed on behalf of the board by: Ms Victoria Onuora Trustee 17 THE RUFINA CHILDRENS FOUNDATION Statement of Cash Flows Year ended 31 December 2024 2024 2023 Cash flows from operating activities Net income 5,198 5,220 Add: Depreciation 132 176 Adjustments for.. Increase in creditors Increase debtors 1,529 (12,222) (5,363) (5,363) 144 Cash generated from operations Net cash from operating activities 5,540 5,540 Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities (705) 4,835 (5,363) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (5,363) 5,466 4,835 631 103 5,466 18 THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 1. General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is CEME Launchpad Centre, Marsh Way, Rainham, Essex, RM13 8EU, UNITED KINGDOM. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Charities Act2011. Accounting policies Basis of accounting Accounting policies Basis of preparation The financial statements have been prepared on a historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Management Committee for purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. 19 THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable. Incoming resources from charitable trading activity are accounted for when earned. Incoming resources from grants, were related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income. and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requi rements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis. designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in the notes to the accounts. 20 THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 4. Tangible assets Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Equipment Cost At 1 January 2023 Additions 705 At 31 December 2024 705 Depreciation At 1 January 2023 Charge for the year At 31 December 2024 176 132 308 Carrying amount At 31 December 2024 397 At 31 December 2023 529 DONATIONS AND LEGACIES Unrestricted Restricted Total Funds Funds Funds 2024 Donations: Charitable 209,000 209,000 209,000 209,000 Unrestricted Funds Restricted Total Funds Funds 2023 Donations: Charitable 140,398 140,398 140,398 140,398 EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestricte Restricted Total Total Funds 21 THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 d Funds Funds Funds 2024 2023 Charitable Activities 203,802 203,802 135,178 203,802 203,802 135,178 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE Total Unrestricted Restricted Funds Funds Funds 2024 Total Funds 2023 Wages and salaries Donations - Charity Education for underprivileged (IDP) Consultants Food drives Logistic support Recruitment Travel and subsistence Stationery and printing Staff training Winter drives Clothing drives Hygiene drives Toy drives Accountancy fees Telephone and internet Subscriptions Bank charges Depreciation Insurance Sundry Rent & Rates Other legal and professional fees Accountancy Cleaning 39,511 32,556 31,877 30,827 14,891 11,132 11,056 5,214 4,959 4,915 3,719 3,719 3,719 3,719 800 360 339 261 132 96 39,511 32,556 31,877 30,827 14,891 11,132 11,056 5,214 4,959 4,915 3,719 3,719 3,719 3,719 800 360 339 261 132 96 2,250 55,630 33,321 11,125 940 30 6,490 6,490 6,490 6,490 349 72 176 171 11 2,707 2,026 240 170 203,802 203,802 135,178 INDEPENDENT EXAMINATION FEES Total Funds Total Funds 2024 2023 Unrestricte d Funds Fees payable to independent examiner for: Independent examination of financial statements 800 800 240 800 800 240 22 THE RUFINA CHILDRENS FOUNDATION Notes to the Financial Statements Year ended 31 December 2024 8. CREDITORS: Amounts falling due within one year 2024 2023 Accountancy PAYE & NIC 800 873 144 1,673 144 UNRESTRICTED INCOME FUNDS Outgoing resources Balance at and Gains and 31 December transfers losses 2024 Balance at 1 January 2024 Incoming resources General Funds 5,851 209,000 (203,802) 5,198 11,049 5,851 209,000 (13,810) 5,198 11,049 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Net current fixed assetsl assets (liabilities) Total Unrestricted Income Funds: Net Current Assets 11,049 11,049 Total Funds 11,049 11,049 11. ANALYSIS OF CHNAGES IN NET DEBT At At 1 Jan 2024 Cashflows 31 Dec 2024 Cash at bank and in hand 5,466 (5,363) 103 23