Trustees' Annual Report for the period Period start date Period end date 31 07 2023 30 07 2024 From To
Section A Reference and administration details
Omega Galleon Foundation
Charity name Omega Galleon Foundation Other names charity is known by Registered charity number (if any) 1204431 Charity's principal address 27 Old Gloucester Street London Postcode WC1N 3AX
Names of the charity trustees who manage the charity
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Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Abiodun Olufemi Osibanjo |
08/03/2024 to 30/07/2024 |
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| Eki Frank Amay | 08/03/2024 to 30/07/2024 |
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| Kola Odunlami | 08/03/2024 to 30/07/2024 |
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| Charles Omini | 08/03/2024 to 30/07/2024 |
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| Ebenezer Osereime Oigbochi |
08/03/2024 to 30/07/2024 |
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| Olumide Odusanya Etimiri |
08/03/2024 to 30/07/2024 |
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Names of the trustees for the charity, if any, (for example, any custodian trustees)
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Name Dates acted if not for whole year
Names and addresses of advisers (Optional information)
Type of adviser Name Address
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Constitution Type of governing document (eg. trust deed, constitution) CIO — Foundation Model (Registered 22 August 2023 How the charity is constituted (eg. trust, association, company) Appointed by existing trustees as per the Constitution Trustee selection methods
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(eg. trust, association, company)
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(eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
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policies and procedures adopted for the induction and training of trustees;
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the charity’s organisational structure and any wider network with which the charity works;
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relationship with any related parties;
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trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
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| Summary of the objects of the charity set out in its governing document Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) |
The prevention or relief of poverty or financial hardship in the UK, Nigeria, &Ghana by providing grants, practical advice, food and other essential items to individuals in need and/or charities, or other organisations working to prevent or relieve poverty. |
|---|---|
| To fulfil its charitable objects, the Foundation provides a structured mutual aid network currently funded entirely by its members. Our core activities include: • Welfare and Hardship Grants:Providing direct financial relief to individuals and families during critical life transitions. This support is specifically targeted at those navigating the financial pressures of bereavement, supporting new parents with the costs of a newborn, and assisting those establishing new households through marriage. • Community Cohesion and Social Inclusion:Organising flagship events, such as our annual dinner ball and family- focused gatherings. These events are provided to members and their spouses to strengthen the social fabric of the community, reduce isolation, and create a dignified environment for networking and mutual support. • International Mutual Aid:Facilitating a platform for members across the UK, Nigeria, and Ghana to share practical advice and support, ensuring the community remains resilient against financial shocks regardless of geography. In planning these activities, the Trustees have had due regard to the Charity Commission’s guidance onPublic Benefit, ensuring our support remains accessible and impactful to the community we serve Public Benefit Statement The Trustees confirm that they have referred to the guidance contained in theCharity Commission's general guidance on Public Benefitwhen reviewing the Foundation's aims and objectives and in planning future activities. The Trustees ensure that all activities, including financial relief and networking support, are carried out to further the Foundation's charitable purposes for the benefit of the community it serve |
Additional details of objectives and activities (Optional information)
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You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
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contribution made by volunteers.
Section D Achievements and performance
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Section D Achievements and performance
Summary of the main achievements of the charity during the year
- Welfare and Crisis Support: The Foundation successfully maintained its critical safety net for members navigating significant life transitions. By providing targeted financial relief during periods of bereavement, the birth of children, and marriages, we ensured that families remained resilient against sudden financial shocks. This support has directly prevented household hardship and fostered a sense of security and mutual care within the community.
• Community Engagement and Cohesion: A major achievement this year was the hosting of our annual dinner ball and the Convaj family gathering. These events served as vital platforms for social inclusion, bringing together members and their spouses in a dignified environment. These non-paying events successfully reduced social isolation, strengthened community ties, and provided a space for members to share practical advice and support, reinforcing the social fabric of the Foundation.
| • Mutual Aid Resilience: |
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|---|---|
| The Foundation demonstrated remarkable self-sufficiency, | |
| with all charitable activities and grants being entirely funded | |
| and delivered through the collective contributions of its | |
| membership. This model of mutual aid has empowered the | |
| community to take direct responsibility for the welfare of its | |
| members, ensuring that support is available whenever and | |
| wherever it is most needed without reliance on external | |
| funding. | |
| Beyond financial relief, the Foundation successfully leveraged its | |
| internal network to support members seeking employment or | |
| career advancement. By facilitating connections between | |
| established professionals and those seeking opportunities during | |
| our community events, we have seen increased collaboration and | |
| mutual career support. This informal mentorship has proved vital in | |
| helping members navigate the job market and improve their | |
| household income, further contributing to our goal of relieving | |
| poverty through sustainable economic empowerment. |
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Section E Financial review
Financial Position: Brief statement of the charity’s policy on reserves "The Foundation recorded a total income of £77,940 for the year, which was generated entirely through member contributions and dues. Total expenditure for the period was £86,522 . The deficit of £8,582 was met by utilizing the charity’s brought-forward cash reserves from the previous year. The Trustees considered this an appropriate use of funds to meet the increased demand for welfare support and community events during the period." Reserves Policy:
"The Foundation maintains a cautious reserves policy, aiming to hold sufficient funds to cover its core welfare obligations for the coming year. At the year-end, the Foundation held £12,289 in cash funds. The Trustees are satisfied that this balance is sufficient to maintain our immediate charitable commitments while we continue to collect regular dues from our membership."
Details of any funds materially in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
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Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Ebenezer Oigbochie Position (eg Secretary, Chair, Secretary etc) Date 05/05/2026
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OMEGA galleon foundation 1204431 Receipts and payments accounts CC16a For the period 31/07/2023 30/07/2024 To from
| Section A Receipts and payments | Section A Receipts and payments | |||||
|---|---|---|---|---|---|---|
| A1 Receipts | Unrestricted funds to the nearest £ - 37,316 12,151 5,933 - - - - 55,400 - - - 55,400 9,880 29,502 6,816 17,784 - - - - - 63,982 - - - 63,982 - 8,582 - 20,871 12,289 |
Restricted funds to the nearest £ 22,540 - - - - - - 22,540 - - - 22,540 22,540 - - - - - - - - 22,540 - - - 22,540 - - - - |
Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds to the nearest £ 22,540 37,316 12,151 5,933 - - - - 77,940 - - - 77,940 32,420 29,502 6,816 17,784 - - - - - 86,522 - - - 86,522 - 8,582 |
Last year to the nearest £ |
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| Donations and legacies | - | - | ||||
| Charitable activites | 37,316 | - | ||||
| other tradingactivities | 12,151 | - | ||||
| other | 5,933 | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
55,400 | - | ||||
| A2 Asset and investment sales, (see table). |
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| - | ||||||
| - | - | |||||
| ~~Sub total~~ | - | - | ||||
| Total receipts A3 Payments |
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| - | ||||||
| Grants to individuals | 9,880 | - | ||||
| communityevents | 29,502 | - | ||||
| support costs | 6,816 | - | ||||
| other | 17,784 | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 63,982 | - | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| - | ||||||
| - | ||||||
| **Sub total ** | - | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| - | ||||||
| - 8,582 | - | - | - 8,582 | - | ||
| - | - | - | - | - | ||
| 20,871 | - | - | 20,871 | - | ||
| 12,289 | - | - | 12,289 | - |
CCXX R1 accounts (SS)
05/05/2026
1
| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|---|
| Categories B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Details laptop Details Total cash funds (agree balances with receipts and payments account(s)) Details cash funds Details payment owed before opening balance |
Unrestricted funds to nearest £ 12,289 - - 12,289 OK Unrestricted funds to nearest £ - - - - - - Fund to which asset belongs Fund to which asset belongs unrestricted Fund to which liability relates unrestricted |
Restricted funds to nearest £ - - - - OK Restricted funds to nearest £ - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - Amount due (optional) 3,549 - - - - |
Endowment funds to nearest £ |
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| OK | ||||
| Endowment funds to nearest £ |
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| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
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| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
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| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| When due (optional) |
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| payment owed before opening balance | unrestricted |
3,549 | ||
| - | ||||
| - | ||||
| - | ||||
| - |
Signed by one or two trustees on behalf of all the trustees
| Signature | Print Name Ebenezer Oigbochie |
Date of approval |
|---|---|---|
| Ebenezer Oigbochie | 05/05/2026 | |
CCXX R2 accounts (SS)
05/05/2026
2
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Charity Name members of Omega Galleon Foundation On accounts for the year 31/07/2024 Charity no 1204431 ended (if any) Set out on pages (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY .
- Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention ( ~~other than that disclosed below~~ *) in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
Signed: Date: 04 May 2026 Name: Ifeanyi Obi Relevant professional Association of Chartered Certified Accountant qualification(s) or body (if any): Address: 22 Sierra Drive Aylesbury HP18 0YQ
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October 2018
IER
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
October 2018
IER