# **REGISTERED CHARITY NUMBER: 1209014** ## **REPORT OF THE TRUSTEES** # **AND** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025** **FOR** ## **KINGDOM BUSINESS BUILDERS** ## **KINGDOM BUSINESS BUILDERS** ## **CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 30 September 2025** Page Corporate Information 1 Report of the Trustees 2 Statement of Financial Activities 5 Statements of Financial Position 6 Notes to the Financial Statements 7-10 ## **KINGDOM BUSINESS BUILDERS** ## **CORPORATE INFORMATION For The Year Ended 30 September 2025** **TRUSTEES** Taiye Sebastine Aluko-Daniels Olufunke Florentina Aluko-Daniels Comfort Ojonugwa Aboje Dr Oluwaseun Eniola Olabode Oluwatosin Oriade Poluyi Dr Olaide Felix Olabode Oluwakemi Itomobo Poluyi **REGISTERED OFFICE:** 44 Sephton Drive Longford Coventry CV6 6QY ## **REGISTERED COMPANY** CE036703 **NUMBER:** **REGISTERED CHARITY** 1209014 **NUMBER:** **BANKERS:** Barclays Bank Plc 1 ## **KINGDOM BUSINESS BUILDERS** ## **REPORT OF THE TRUSTEES For The Year Ended 30 September 2025** The trustees of the charity for the purposes of the Charities Act 2011, present their report with the financial statements of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The CIO was incorporated on 08 July 2024 under the name Kingdom Business Builders (Charitable Incorporated Organisation) under the Charity Number 1209014. The object of the CIO is to advance such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time ("the Objects"). Nothing in the constitution shall authorise an application of the property of the CIO for the purposes which are not charitable in accordance with Section 2 of the Charities Act 2011. ## **Significant activities** The Trustees meet regularly to select appropriate institutions to make donations to. The giving of these donations helps to achieve the objectives set out above. ## **Public benefit** In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **Grant making** The Trustees may at their discretion choose organisations to support. When deciding who to support, they follow the relevant clauses within the policy, including to ensure they are making donations in furtherance of the Objects. The Trustees ensure that any donations made are only for charitable purposes and recognise that not everything that benefits the public is necessarily charitable. The Trustees usually only award donations to organisations based in the United Kingdom that either: - are registered as charities with the Charity Commission for England and Wales (Charity Commission), the Office of the Scottish Charity Regulator and/or the Charity Commission for Northern Ireland; and/or - qualify as charities under the law of England and Wales, but are not required to register with the Charity Commission for England and Wales. The Trustees recognise that they are able to also provide donations to non-charitable organisations, provided the donations are to be used for charitable purposes only. If the Trustees are considering making a donation to a non-charitable organisation, they will 2 ## **KINGDOM BUSINESS BUILDERS** ## **REPORT OF THE TRUSTEES For The Year Ended 30 September 2025** consult the Charity Commission guidance as they recognise there are additional risks involved. The Trustees have ultimate responsibility for all donation-making decisions and for ensuring that all funds awarded are used to advance the Objects. The Trustees ensure that they consult the Charity Commission’s guidance on what charitable purposes are if they are in any doubt about whether a proposed donation is charitable. If the Trustees are in doubt following consulting the guidance, they take appropriate advice. If any doubt remains, they refrain from making the donation. The Trustees meet regularly to select appropriate institutions to make donations to. Donations are made without any commitment to future funding. ## **Achievement and performance** ## **Charitable activities** The CIO has made £383.99 (2024: £Nil) of charitable donations during the year and has continued to support a wide range of charitable causes. ## **Financial review** ## **Financial position** Total incoming resources for the year amount to £2001 (2024: £Nil) which includes monetary donations from the general public. Expenditure on charitable activities was £384 (2024: £Nil), with governance costs of £538 (2024: £Nil). The net movement in funds was a surplus of £1,079 (2024: £Nil) giving total funds carried forward of £1,079 (2024: £Nil) comprising entirely of unrestricted fund. ## **Reserves policy** The charity held unrestricted funds at the year-end of £1,079 (2024: £Nil). These reserves are considered adequate by the Trustees. In view of the nature of the charity, the trustees are satisfied that no formal level of reserves is required, as donations are only made when there are available funds, and the charity does not have any liabilities to make donations. The reserves (that is, the part of the charity's unrestricted funds that is freely available to spend on any of the charity's purposes) is £1,079. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The CIO is controlled by its governing document, the Constitution, dated 8 April 2024. ## **Recruitment and appointment of new trustees** The CIO shall comprise of at least three charity trustees appointed by a resolution passed at a properly convened meeting of the charity trustees for such a period as the charity trustees may determine. 3 ## **KINGDOM BUSINESS BUILDERS** ## **REPORT OF THE TRUSTEES** ## **For The Year Ended 30 September 2025** In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees of Kingdom Business Builders for the purposes of company law are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgments and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charity Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Currently, no independent examiner was engaged to review the financial statements because the income of the charity was below £25,000. Report of the trustees, approved by order of the board of trustees, on 2[nd] May 2026 and signed on the board's behalf by: ................................................................. Oluwakemi Itomobo Poluyi - Trustee 4 ## **KINGDOM BUSINESS BUILDERS** ## **STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 30 September 2025** |**INCOME**
**Note**
Donation and Legacies
3
Other Income
**Total**
**EXPENDIITURE ON**
**Charitable activities**
4
Charitable Donations
Governance Costs
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Period**
**2025**
**08.07.2024 -**
**30.09.2024**
**Unrestricted**
**fund**
**Unrestricted**
**fund**
**£**
**£**
2,001
-
-
-
**2,001**
-
384
-
538
-
**922**
-
1,079
-
-
-
**1,079**
-| |---|---| The notes form part of these financial statements 5 ## **KINGDOM BUSINESS BUILDERS** ## **STATEMENT OF FINANCIAL POSITION For The Year Ended 30 September 2025** The notes form part of these financial statements 6 ## **KINGDOM BUSINESS BUILDERS** ## **NOTES TO THE FINANCIAL STATEMENT For The Year Ended 30 September 2025** ## **1. STATUTORY INFORMATION** Kingdom Business Builders is a charitable incorporated organisation registered in England and Wales. The registered office address is given in the charity information on page 1 of these financial statements. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income recognition** ## **Donations** Donations are recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Gift Aid** Income from HMRC tax reclaims are recognised in the Statement of Financial Activities when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 7 ## **KINGDOM BUSINESS BUILDERS** ## **NOTES TO THE FINANCIAL STATEMENT For The Year Ended 30 September 2025** ## **2. ACCOUNTING POLICIES - continued** ## **Fund accounting** Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Grants payable** Grants payable are recognised as expenditure in the Statement of Financial Activities when the charity has a constructive or legal obligation to make the payment, the payment is probable and the amount can be measured reliably. Grants are accounted for on an accruals basis. ## **Debtors** Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. ## **Cash and cash equivalents** Cash and cash equivalents represents short-term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit or similar account. ## **Creditors and provisions** Creditors and provisions are recognised where the charity as a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. ## **Going concern** There are no material uncertainties about the charity's ability to continue as a going concern ## **KINGDOM BUSINESS BUILDERS** 8 NOTES TO THE FINANCIAL STATEMENT For The Year Ended 30 September 2025 Y•ar End P•ri¢xl 08.07.24 to 30.09.2025 30.09.24 3 DONATION AND LEGXIES Donatior 4 CHPRITPBLE XTIVITIES COSTS Grant tuThlirKJ of actiMtE5 Golemance (see note costs Isee 51 Dote 61 Totsl Charrtab￿ Donations Gowernance Costs 383.99 537.75 537_75 537.75 921.74 5 GRM4T PAYABLE The charrty has taken the statuiory exemption uTrJer charty law from dBclosirKJ the narrEs of grant recipients durirrfJ liÈtirne of the settlor of the trust. Grants m&Je B categorised as follows.. 2025 2024 RelwJiou5 ￿tIm1*S 6 GOVERNM4CE COSTS Year End Peri¢xl 08.07.24 to 30.09.24 30.09.2025 Promob'onal Expenses Hall Hire & Decoration 225.23 312.52 537.75 7 TRUSTEES. REMUNERATION MD BENEFITS No trust￿5 recei￿1 any remuneration or expen5e5 duritvJ yEar (2024" £Nil>. Trustees. expenses There were no Irustee5' expenses paKI for the ￿ar eThJed 30 Septemter 2025 nor for the peri(Kl e[KI￿ 30 Septemt￿r 2024. KINGDOM BUSINESS BUILDERS NOTES TO THE FINANCIAL STATEMENT For The Year Ended 30 September 2025 8 MOVEMENT IN FUNDS M0￿ment in fvrKIs 01.10.24 A 30.09.25 Unrestricted Funds General 1,079 1,079 TOT￿ FUNDS 1,079 1,079 Net mo*ment in ￿lM￿s, Incl￿ed in the abo* are as follows" IncomiThJ Resources ￿)￿Ment resources experKled in fiJTrJs Unrestricted Funds General fvrxl 922 TOTNL FUNDS 2,001 922 1,079 Cowoarative for n￿Vernent in funds: M0￿ment in fvThJs 08.07.24 A 30.09.24 Unrestricted Funds General ￿nd TOTPL FUNDS moNEment in furhjs, incl￿ed in the abo￿ are a5 follows: IncomirKJ Resources ￿)￿Merrt resources expeThJed in fuThJs Unrestricted Funds General fvnd TOTPL FUNDS