**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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20|**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||
||Eki Frank Amay||08/03/2024 to
30/07/2024||
||Kola Odunlami||08/03/2024 to
30/07/2024||
||Charles Omini||08/03/2024 to
30/07/2024||
||Ebenezer Osereime
Oigbochi||08/03/2024 to
30/07/2024||
||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)**
March **2012**
**TAR**
1
**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
- (eg. trust, association, company)
- (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
March **2012**
**TAR**
2
|**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 on**Public 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 the**Charity Commission's general guidance on Public**
**Benefit**when 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)**
March **2012**
**TAR**
3
You **may choose** to include further statements, where relevant, about:
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
March **2012**
**TAR**
4
## 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:**|
|---|---|
||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.||
March **2012**
**TAR**
5
## **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:
- the charity’s principal sources of funds (including any fundraising);
- how expenditure has supported the key objectives of the charity;
- 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.**
March **2012**
**TAR**
6
**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
March **2012**
**TAR**
7
**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 £**|
|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).**|||||||
||**-**||||||
||**-**|||||**-**|
|~~**_Sub total_**~~|**-**|||||**-**|
|**_Total receipts_**
**A3 Payments**|||||||
|||||||**-**|
||||||||
|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 £**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**Current value**
**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**Current value**
**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**When due**
**(optional)**|
||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:
- accounting records were not kept in accordance with section 130 of the Act or
- 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
1
**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**