Registered Charity Number :- 1199769 ## CONGRESS 4 IBUSA ADVANCEMENT ## TRUSTEES’ REPORT AND ## FINANCIAL STATEMENTS ## FOR THE YEAR END 31 March 2023 **Congress 4 Ibusa Advancement 24 Burwood Gardens Essex** **Essex ibusacongress@gmail.com** **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **CONTENTS** FOR THE YEAR ENDED 31 March 2023 TRUSTEES' REPORT ....................................................................................................................................................... 3 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................................ 5 BALANCE SHEET ........................................................................................................................................................... 6 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 7 **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **TRUSTEES' REPORT** FOR THE YEAR ENDED 31 March 2023 ## **The Trustees ‘Annual Report** The Trustees are pleased to present their report Congress 4busa Advancement which incorporates a Directors' Report and Strategic Report as 13st March 2023, Charity Registration No. 1199769 for the twelve months ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charity's governing document, the Companies Act 2006,the Charities Act 2011,the Charities and Trustee Investment England Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006(as amended) and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Standards applicable in the UK and Republic of Ireland published in October 2019. ## **Structure, Governance and Management** The Congress for Ibusa Advancement is a non-profit organisation working in the community in Ibusa Nigeria and the UK to raise awareness of and support youth education and advancement, and care for the elderly and impoverished. Congress 4 Ibusa Advancement will work with individuals, societies and organisations e.g. Old people’s home etc to put in place a support system for the care of elderly relatives or loved ones having trouble caring for themselves. The collective goals of this charity include the prevention or relief of poverty in Ibusa town in Nigeria by providing grants, items, and services to individuals in need. To advance education in Ibusa town in Nigeria by providing or assisting in the advancement of education, training, trade skills, apprenticeship and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient. ## **Recruitment and Appointment of Trustees** The Charity is structured in accordance with its Memorandum and Articles of Association. It aims to provide governance that is conducive to effective working, ensuring that checks and balances are in place whilst avoiding duplication and delivering effective two-way communication. The founding Members appoints the Trustees. When appointing new Trustees, the members gives consideration to the skills and experience mix of existing Trustees in order to ensure that the Board has the necessary skills to contribute fully to the charity’s objectives and development. All Trustees give their time freely and no Trustee received remuneration in the year. Under the requirements of the Memorandum and Articles of Association, the Trustees are elected to serve under a programme of rolling retirement. At every AGM one-third of the trustees must retire from office; they may offer themselves for re-appointment at the AGM. The Appointment and Retirement of Trustees is covered in the Articles of Association . The Trustees are ultiCharityely responsible for directing and controlling the Charity. The main documents which set out the operational framework for the Charity including the Memorandum and Articles of Association. Resources and the current financial position as set out in the latest published accounts ture plans and objectives ## **Corporate Governance** The full Board holds 4 scheduled meetings per annum with additional meetings held when required. Whilst retaining its responsibilities for the overall strategy and policies of the church, the Trustees delegate the day-to-day management to the Chief Executive Officer-Dr Ugoh and the Management Team. The Trustees have set up sub-committees for Finance & Marketing, Events & Community, these sub-committees are responsible for ensuring the effectiveness of the internal controls. ## **Public Benefit** The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit in exercising their powers or duties. They have referred to this guidance when reviewing the charity’s aims and objectives and in planning its future activities. ## **Principal Risks and Uncertainties** The Board of Trustees has reviewed the major risks to which the Charityt is exposed together with the operating, financial and compliance controls that have been implemented to mitigate those risks. The principal risks and uncertainties facing the Charity are as follows: **C4** **TRUSTEES' REPORT** ## **CONGRESS 4 IBUSA ADVANCEMENT** ## FOR THE YEAR ENDED 31 March 2023 - Financial the charity has considerable reliance on continued donation from members. In the last year 98% of the charity’s incoming resources were donation from members and whilst this level is expected to continue, there is no assurance that this will remain the same or that funding will continue at the same levels or on the same terms. - Failures in governance and/or management the risk in this area arises from potential failure to effectively manage the Charity's finances, internal controls, compliance with regulations and legislation, statutory returns, etc. The Trustees continue to review and ensure that appropriate measures are in place to mitigate these risks. - Reputational the continuing success of the Charity is dependent on continuing to attract volunteers in sufficient numbers by maintaining the highest quality standards. To mitigate this risk Trustees, ensure that the beneficiaries’ success and achievement are closely monitored and reviewed. - Duty of Care - Safeguarding and child protection, and Health and Safety the Trustees continue to ensure that the highest standards are maintained in the areas of selection and monitoring of volunteers, the operation of child protection policies and procedures, health & safety and disciplines and that there are robust procedures and policies in place which are monitored on a regular basis. - Volunteering is key to the success of the Charity and is reliant upon the quality of its volunteers and so the Trustees monitor and review policies and procedures to ensure continued development and training of volunteers as well as ensuring there is clear succession planning. - Fraud and mismanagement of funds The Charity subcommittee to carry out checks on financial systems and records as required by the charity’s Financial Handbook. The Charity has continued to strengthen its risk management process throughout the year by improving the process and ensuring volunteer awareness. A risk register is maintained and reviewed and updated on a regular basis. ## DR EDWIN UGOH ## Chairman **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 31 March 2023 |**Recommended categories by**
**activity**
**Notes**
**Incoming resources**
**Income and endowments**
**from:**
Donations and legacies
2
Investments
3
**Total**
**Resources expended**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total**
**Net income/(expenditure)**
**before investment**
**gains/(losses)**
**Net income/(expenditure)**
**Net movement in funds**
Reconciliation of funds:
Total funds brought forward
**Total funds carried forward**|**Unrestricted funds**
**£**
**Total Funds 2023**
**£**
**Total Funds 2022**
**£**
770.00
770.00
-
112.00
112.00
-| |---|---| ||**882.00**
**882.00**
**-**| ||374.00
374.00
-
158.00
158.00
-| ||**532.00**
**532.00**
**-**| ||**350.00**
**350.00**
**-**
**350.00**
**350.00**
**-**| ||**350.00**
**350.00**
**-**
-
-
-| ||**350.00**
**350.00**
**-**| **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **BALANCE SHEET** FOR THE YEAR ENDED 31 March 2023 |**Recommended categories by**
**activity**
**Notes**
Current assets
Cash at bank and in hand
6
**Total current assets**
**Total net assets or liabilities**
**Funds of the Charity**
Unrestricted funds
7
Restricted income funds
7
Endowment funds
7
**Total funds**|**Unrestricted funds**
**£**
**Total Funds 2023**
**£**
**Total Funds 2022**
**£**
350.00
350.00
-
**350.00**
**350.00**
**-**| |---|---| ||**350.00**
**350.00**
**-**| ||350.00
350.00
-
-
-
-
-| ||**350.00**
**350.00**
**-**| The financial statements were approved by the Board on 31-Mar-2023 and signed on its behalf by: DR EDWIN UGOH Chairman **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 March 2023 ## **1 Accounting Policies** ## **1.1 Accounting Policies** The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. ## **1.2 Basis of preparation** These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared 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)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. ## **1.3 Going concern** The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts. ## **2 Income from Donations and Legacies** |**Analysis**
Donation and gifts
Membership
subscriptions and
sponsorships which are
in substance donations|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2023**
**Total funds**
**2022**
**£**
**£**
**£**
**£**
**£**
470.00
-
-
470.00
-
300.00
-
-
300.00
-| |---|---| ||770.00
-
-
770.00
-| **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 March 2023 ## **3 Income from Investments** |**Analysis**
Other|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**2023**
**Total funds**
**2022**
**£**
**£**
**£**
**£**
**£**
112.00
-
-
112.00
-| |---|---| ||112.00
-
-
112.00
-| ## **4 Expenditure on Raising Funds** |**Analysis**
Database development
costs
Incurred seeking
donations|**Total funds 2023**
**Total funds 2022**
**£**
**£**
232.00
-
142.00
-| |---|---| ||374.00
-| ## **5 Expenditure on Charitable Activities** |**Analysis**
Charity management &
administartio
Charity running cost|**Total funds 2023**
**Total funds 2022**
**£**
**£**
100.00
-
58.00
-| |---|---| ||158.00
-| ## **6 Cash at bank and in hand** |Cash at bank and on hand|**Total funds 2023**
**Total funds 2022**
**£**
**£**
350.00
-| |---|---| ||350.00
-| **CONGRESS 4 IBUSA ADVANCEMENT** **C4** **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 March 2023 ## **7 Charity funds** ## **7.1 Details of Charity funds held and movements during the CURRENT reporting period** |**Fund names**
**Unrestricted funds**
**Total**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**| |---|---| ||-
882.00
(532.00)
-
-
350.00| ||-
882.00
(532.00)
-
-
350.00| ## **7.2 Transfers between funds** ## **This Year** **Amount £** Between unrestricted and restricted funds Between endowment and restricted funds Between endowment and unrestricted funds - - -