2024-01-31-accounts - Community Relief And Empowerment Foundation

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COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

COMMUNITY RELIEF AND EMPOWERMENT FOUNDATION TRUSTEE’S REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JAN 2024

Charity number: 1203885

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

Content	Page
Administrative details, trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5 - 6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 - 11

The following pages do not form part of the statutory financial statements:

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

ADMINISTRATIVE DETAILS, TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JAN 2024

Trustees

Abiodun Olugboji (Chair) Temitope Adebiyi (Trustee) Perpetua Norville (Secretary)

Charity registration number

1203885

Registered Office

102 Churchill Avenue Chatham Kent ME5 0DH

Trading Office

Suite C222 Access Storage Offices Bugsby Way Charlton SE7 7SJ

Administrator

Temitope Adebiyi

Bankers Barclays Bank plc

Independent Examiners

BDR Associates Accountants & Tax Consultants 98a Plumstead Road London SE18 1SL

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JAN 2024

The trustees present their annual report together with the financial statements of Community Relief and Empowerment Foundation (the charity) for the year ended 31 January 2024. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The charity is constituted under a governing document, dated 25 January 2023, as a registered CIO with charity number 1203885.

b. Method 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 constitution of the CIO.

c. Policies adopted for the induction and training of trustees

The induction process for any newly appointed member of the trustees comprises an initial meeting with the chair and other trustees, followed by a series of short meetings with the administrator on the powers and responsibilities of the Trustees.

d. Organisational structure and decision making

The charity is organised so that the trustees meet regularly to manage its affairs. There is a part-time administrator, who manages the administration of the charity.

e. Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The objects of the charity are:

To relieve financial hardship for the public benefit by distributing clothes, food, educational materials and general humanitarian assistance to those in need who are socially and economically disadvantaged.

Each year the trustees review the objectives and activities to ensure that they continue to reflect the charity’s aims. In carrying out this review the trustees consider the Charity Commission's general guidance on public benefit.

b. Strategies for achieving objectives

The charity has adopted the following strategies for achieving the above objectives – distributing food, clothes and relief materials and organising seminars with business and faith leaders to guide the general public as well as support for other charities.

c. Activities for achieving objectives

Various relief / support activities Community outreach Events Provision of welfare support to needy members of the public Conferences & Events

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

d. Volunteers

The charity is grateful for the unstinting efforts of its volunteers who are involved in service provision. It is estimated that over 1,035 volunteer hours were provided during the year. If this is conservatively valued at £11.95 per hour, the volunteer efforts amount to about £12,370.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

There is rapid growth in the activities of the charity during the year in accordance with the objectives set out in the charity’s constitution.

b. Investment policy and performance

The trustees have decided that at present, funds should be retained in banks and building societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

FINANCIAL REVIEW

a. Reserves policy

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding.

b. Principal funding

This is provided mainly through voluntary donations and pledges by the charity members and potentially through the gift aid scheme. Donations are also taken for specific projects.

PLANS FOR THE FUTURE

a. Future developments

The charity continues to explore various ways of expanding its activities in an effective manner and is also looking to grow in size and continue to develop its activities to make life-changing impact in the society.

This report was approved by the Trustees on and signed on their behalf, by:

Temitope Adebiyi

Abiodun Olugboji

Temitope Adebiyi (Trustee)

Abiodun Olugboji (Chair)

Dated -18 July 2024

20 July 2024

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report on the financial statements of the charity for the year ended 31 January 2024 which are set out on pages 7 to 11.

This report is made solely to the charity's trustees, as a body, in accordance with Section 43 of the Charities Act 1993 and regulations made under Section 44 of that Act.

My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. The charity's gross income does not exceed the stipulated threshold.

It is my responsibility to:

examine the financial statements under section 43 of the Act;

· follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the Act; and state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 41 of the Act; and

· to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

BDR Associates

Signed

10 August 2024 Dated:

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 January 2024

(Incorporating income and expenditure account)

Gross Incoming Resources Direct Expenses Net Incoming Resources Less- Administrative Expenses Excess of Expenditure over Income	Note 2 2a 3	£ 52,650 (1,650)
		51,000 (49,490)
		1,510

The notes on pages 9 to 11 form part of these financial statements.

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

BALANCE SHEET AS AT 31 January 2024

Fixed Assets Tangible Assets Current Assets Inventory Prepayments Bank Current Liabilities Creditors (due within 1yr) Net Current Assets/(Liabilities) Net Total Assets/(Liabilities) Unrestricted Funds	Note 4 5 6	£ 6,975 2,685 2,420 1,020 6,125 (8,875) (2,750) 4,225 4,225

The financial statements were approved by the trustees and signed on their behalf, by:

Temitope Adebiyi

Abiodun Olugboji

Temitope Adebiyi (Trustee)

Abiodun Olugboji (Chair)

Dated -18 July 2024

20July 2024

The notes on pages 9 to 11 form part of these financial statements.

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 January 2024

ACCOUNTING POLICIES

1. Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

2. Incoming resources

All incoming resources are included in the Statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

a. Charity collections are recognised when received by or on behalf of the charity. b. Planned giving received under Gift Aid is recognised only when received.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation (although the charity is yet to claim gift aid). Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

3. Expenditure / administrative expenses

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Direct Expenses (2a) Administrative Expenses Rent Service Charges Light & Heating Cleaning Telephone & Internet Travel Exps Publications Storage Transportation Stationery & Printing Depreciation Bookkeeping Exps Sundry Exps	£ 1,650
	10,200 2,750 415 365 2,920 3,950 4,850 9,950 4,785 3,580 785 4,535 405
	49,490

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

NOTES TO THE ACCOUNTS (continued)

4. Tangible fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their 6expected useful lives on the following bases:

Asset Motor vehicles - Fixture & fittings - Computer equipment -	Basis 20% straight line (pro-rata in first & subsequent years) 20% straight line (pro-rata in first & subsequent years) 20% straight line (pro-rata in first & subsequent years)

Tangible Fixed Assets Cost Additions At 31 Jan 2024 Depreciation Brought forward Charge for the Year Net Book Value At 01 Feb 2023 At 31 Jan 2024	Motor Vehicle £ 1,280 300 1,580 150 150 300 1,130 1,280	Fixt. & Fittings £ 2,640 735 3,375 310 310 620 2,330 2,755	Comp. Equipment £ 2,840 750 3,590 325 325 650 2,515 2,940	Total £ 6,760 1,785
				8,545
				785 785
				1,570
				5,975 6,975

All assets costing more than £250 are capitalised. The policy with respect to impairment reviews of fixed assets is for tangible fixed assets to be stated at cost less depreciation.

5. Inventory

Inventory consists of items for public distribution, stationery and computer consumables in stock at the end of the year which are valued at the lower of cost of net realisable value.

6. Prepayments

These are services paid for yet to be consumed in the ordinary course of charity activities.

7. Unrestricted fund

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

COMMUNITY RELIEF & EMPOWERMENT FOUNDATION TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

NOTES TO THE ACCOUNTS (continued)

Unrestricted fund

Unrestricted fund
Net Incoming Resources Less- Administrative Expenses Unrestricted Funds at 31 Jan 2024 Unrestricted Funds at 01 Feb 2023 Unrestricted Funds at 31 Jan 2024	£ 51,000 (49,490)
	1,510 2,715
	4,225