## **TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS** For the period ended 5th April 2025 **Charity name:** Oaks Health Foundation **Charity number:** 1207839 **Legal structure:** Charitable Incorporated Organisation (CIO) **Principal address:** 33 Wedon Way, Bygrave, SG7 5DX ## **TRUSTEES’ ANNUAL REPORT** ## **1. Structure, Governance and Management** The charity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission for England and Wales. The charity is governed by its constitution. The trustees are responsible for the overall management and control of the charity and meet regularly to oversee its activities and finances. Trustees are appointed in accordance with the charity’s constitution. New trustees receive appropriate induction to ensure they understand their legal duties and the objectives of the charity. Decisions are made collectively by the trustees. A conflict of interest policy is in place. ## **2. Objectives and Activities** ## **Charitable Object** The charity’s object is: For the public benefit, the relief of sickness and the preservation of good health of people living in Nigeria who are unable to access or afford medical services by the provision of affordable and equitable healthcare and the provision of training for locally employed healthcare professionals. ## **Public Benefit Statement** The trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. The charity’s activities are carried out for the public benefit by working to improve access to affordable healthcare services and by supporting the development of healthcare professionals serving underserved communities in Nigeria. ## **3. Achievements and Performance** This was the charity’s first year of operation. During the year, the trustees focused on: - Establishing governance and financial management systems - Opening a bank account and implementing financial controls - Undertaking initial fundraising activities - The charity carried out basic medical outreaches in collaboration with partners, treating just under 1000 adults and children in Nigeria Although income during the first year was modest, the trustees laid the groundwork necessary for future programme delivery and growth. ## **4. Financial Review** ## **Overview** Total income for the period amounted to **£2,271** . Total expenditure for the period amounted to **£3,285** . This resulted in a **deficit of £1,014** for the period, which was donated by the chair and founder of the charity - Dr Tolulope Oludayo Ekong The deficit reflects initial establishment and development costs incurred during the charity’s first year. At the end of the period, the charity held unrestricted funds of **£942.67** . All funds were unrestricted. ## **5. Reserves Policy** As a newly established charity, the trustees recognise the importance of maintaining adequate reserves to ensure financial stability. The trustees aim to build unrestricted reserves equivalent to approximately three months of operating costs. At the end of the period, reserves were below this target due to initial start-up expenditure. The trustees intend to strengthen reserves through future fundraising activities. ## **6. Plans for Future Periods** In the coming year, the trustees plan to: - Increase fundraising activity - Develop partnerships with healthcare providers in Nigeria - Develop and deliver training opportunities for locally employed healthcare professionals - Strengthen governance and financial oversight systems ## **7. Trustees’ Responsibilities Statement** The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the period. The trustees declare that they have approved this report. ## **FINANCIAL STATEMENTS** (Receipts and Payments Basis) Prepared in accordance with the Charities Act 2011 and guidance issued by the Charity Commission for England and Wales. ## **RECEIPTS AND PAYMENTS ACCOUNT** For the period ended 5th of April 2025 ## **Unrestricted Funds** ## **Receipts** |**Receipts**|| |---|---| |**Description**|**Amount (£)**| |Donations from individuals|2,271.00| |**Total Receipts**|**2,271.00**| ## **Payments** |**Description**|**Amount (£)**| |---|---| |Governance and administration costs|1,850.00| |Programme development & planning costs
includingcost of outreaches|1,235.00| |Sundry expenses|200.00| |**Total Payments**|**3,285.00**| ## **Summary of Funds** |**Summary of Funds**|| |---|---| |**Description**|**Amount (£)**| |Opening balance at start of period|1,956.67| |Add: Total Receipts|2,271.00| |Less: Total Payments|(3,285.00)| |**Closing balance at end of period**|**942.67**| ## Closing balance agrees to bank balance at year end. ## **STATEMENT OF ASSETS AND LIABILITIES** As at 5th April 2025 ## **Cash Funds** |**Cash Funds**|| |---|---| |**Description**|**Amount(£)**| |Bank current account|942.67| |**Total Cash Funds**|**942.67**| ## **Other Monetary Assets** The charity held no other monetary assets at the end of the period. ## **Liabilities** The charity had no outstanding liabilities at the end of the period. ## **Non-Monetary Assets** The charity held no significant non-monetary assets at the end of the period. ## **Net Assets** |**Net Assets**|| |---|---| |**Description**|**Amount (£)**| |Total Cash Funds|942.67| |Less: Liabilities|0.00| |**Net Assets**|**942.67**| ## **Approval** Approved by the trustees on: _____4th March 2026___ Signed on behalf of the trustees: Signature: _________________________ Name: __Dr Tolulope Oludayo Ekong__ Position: Trustee and Chair Date: ____4th March 2026_________