DREAM BUILDER TRUST
Notes to the Financial Statements
For the period ended 1 August 2025
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Charities Statement of Recommended Practice (SORP) (FRS 102), applicable United Kingdom accounting standards, and the requirements of the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
b) Going concern
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
The financial statements have therefore been prepared on a going concern basis.
c) Income
Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
During the period, all income relates to voluntary contributions made by trustees to support the charity’s activities.
d) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment, it is probable that settlement will be required, and the amount can be measured reliably.
All expenditure has been classified as expenditure on charitable activities, as it relates directly to the delivery of the charity’s objectives.
e) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
No restricted funds were held during the period.
2. Income
| Source | £ |
|---|---|
| Donations from trustees | 1,950 |
| Total income | 1,950 |
All income received during the period relates to contributions made by trustees.
3. Expenditure on charitable activities
| 3. Expenditure on charitable activities | |
|---|---|
| Description | £ |
| Outreach and support activities | |
| Website development and operational setup | |
| Nigeria registration costs (Corporate Affairs Commission) |
|
| Essential items and direct support to beneficiaries | |
| Communications and digital engagement | |
| General operational expenses | |
| Total expenditure | 1,950 |
All expenditure was incurred in furtherance of the charity’s objectives.
4. Trustees’ remuneration and expenses
No trustees received remuneration during the period.
Trustees did not receive reimbursement of expenses through the charity. Instead, trustees directly funded activities on behalf of the charity.
No trustee or related party had any material interest in any transaction with the charity.
5. Related party transactions
All transactions during the period relate to contributions made by trustees to support the charity’s activities.
These contributions have been recognised as donations in the Statement of Financial Activities.
There were no other related party transactions requiring disclosure.
6. Cash at bank and in hand
| Description | £ |
| Cash at bank and in hand | 0 |
At the reporting date, the charity held no funds, as all expenditure was met directly by trustees during the period.
7. Creditors: amounts falling due within one year
The charity had no outstanding liabilities at the reporting date.
DREAM BUILDER TRUST
Statement of Financial Activities (SOFA)
For the period ended 1 August 2025
| Incoming resources | Unrestricted Funds(£) | Total Funds(£) |
|---|---|---|
| Donations and legacies | 1,950 | 1,950 |
| Other income | – | – |
| Total income | 1,950 | 1,950 |
| Resources expended | Unrestricted Funds (£) | Total Funds (£) |
|---|---|---|
| Expenditure on charitable activities |
1,950 | 1,950 |
| Governance costs | – | – |
| Total expenditure | 1,950 | 1,950 |
Net movement in funds £0 Funds brought forward £0 Funds carried forward £0
Balance Sheet
As at 1 August 2025
| As at 1 August 2025 | ||
|---|---|---|
| Assets | £ | |
| Current assets | ||
| Cash at bank and in hand | 0 | |
| Total current assets | 0 | |
| Liabilities | £ | |
| Creditors: amounts falling due within oneyear |
0 | |
| Net current assets | 0 | |
| Funds of the charity | £ |
|---|---|
| Unrestricted funds | 0 |
| Total charity funds | 0 |
For the period ended 1 August 2025
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (SORP) (FRS 102) and applicable United Kingdom accounting standards.
The charity has taken advantage of the small charities exemption in preparing these financial statements.
Approved by the Board of Trustees on: 20/04/26
Signed: Omlak
Name: F. Lakanu
Position: Chair of Trustees
All transactions during the period were funded directly by trustees and no funds were held by the charity at the reporting date.
DREAM BUILDER TRUST TRUSTEES’ ANNUAL REPORT 2026
For the period ended 1 August 2025
www.dreambuildertrust.com
TABLE OF CONTENT
- Reference and Administrative Details………………………………………………… 2 2. Structure, Governance and Management…………………………………………… 2 3. Objectives and Activities……………………………………………………………………. 3 4. Achievements and Performance………………………………………………………… 4 5. Financial Review………………………………………………………………………………… 5 6. Plans for Future Periods…………………………………………………………………….. 7 7. Fundraising Activities…………………………………………………………………………. 7 8. Statement of Trustees’ Responsibilities……………………………………………… 8 9. Approval…………………………………………………………………………………………….. 8
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1. Reference and Administrative Details
Charity name: Dream Builder Trust Charity number: 1209818
Legal structure: Charitable Incorporated Organisation (Foundation Model) Principal office: London, United Kingdom
Trustees (who are also the charity’s only members):
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F. Lakanu - Chair of Trustees
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C. Lakanu - Trustee
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E. Lakanu -Trustee
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J. Lakanu - Trustee
Dream Builder Trust is a Foundation model Charitable Incorporated Organisation (CIO). As such, the trustees are the only members of the charity and have full responsibility for its governance, strategic direction and decision-making.
The charity had no paid employees during the reporting period and operated entirely through the voluntary efforts of its trustees and volunteers.
The trustees met regularly during the period to oversee the charity’s activities and ensure compliance with its governing document and applicable regulations.
2. Structure, Governance and Management
Dream Builder Trust is a Charitable Incorporated Organisation (CIO) established on 30 August 2024 and governed by its constitution dated 1 April 2024.
As a Foundation model CIO, the trustees are the charity’s only members and are responsible for its governance, strategic direction and decision-making in accordance with its governing document and applicable charity law.
First year of operation
This report covers the charity’s first accounting period, from registration on 30 August 2024 to 1 August 2025.
During this period, the charity operated in its foundational phase. The trustees focused on establishing appropriate governance arrangements, developing core policies and procedures, also implementing the operational framework necessary to support future charitable activities.
Trustee recruitment and governance
The founding trustees were appointed at the point of registration and collectively assumed responsibility for the strategic oversight, governance and development of the charity.
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The trustees worked collaboratively to ensure that appropriate governance structures were established, consistent with the requirements of a Foundation CIO.
Induction and training
Trustees were appropriately briefed on their legal duties and responsibilities, including compliance with the requirements of the Charity Commission for England and Wales, safeguarding obligations and financial oversight.
The trustees had regard to relevant Charity Commission guidance, including their duties as trustees, in carrying out their responsibilities during the period.
Organisational structure
The charity operated without paid staff during the reporting period. All activities were delivered through the voluntary efforts of trustees and volunteers.
The trustees met regularly to oversee the charity’s development, ensure appropriate oversight of activities, and monitor progress against its emerging strategic objectives.
Risk management
The trustees have a duty to identify and manage risks that may affect the charity’s operations and beneficiaries.
During this initial period, the trustees identified key early-stage risks, including financial management, safeguarding and operational delivery. Proportionate controls and oversight arrangements were implemented to mitigate these risks during the charity’s development phase.
The trustees recognise the importance of maintaining a formal risk management framework and have begun the process of developing a structured risk register to support ongoing governance and oversight.
3. Objectives and Activities
Charitable purposes
The objects of Dream Builder Trust are to advance community welfare by supporting individuals and families in need through the provision of essential items, outreach support, and activities designed to reduce hardship and social exclusion.
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 public benefit guidance published by the Charity Commission for England and Wales.
The trustees are satisfied that the charity’s activities during the period were carried out for the public benefit.
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Activities during the period
During this initial reporting period, the charity focused on establishing its operational and organisational foundations while beginning to deliver small-scale charitable activities.
Key development activities during the period included:
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Establishment of the charity’s core infrastructure, including development of its website and communications platforms
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Application for and establishment of a dedicated charity bank account
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Development of governance systems and operational processes to support future growth.
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As a charity operating in both the United Kingdom and Nigeria, the trustees undertook initial research and familiarisation with the UK operating environment, including regulatory, safeguarding, and community engagement considerations.
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During this early stage, outreach activity was more readily deliverable in Nigeria, where the charity was able to begin engaging with communities and delivering initial support while continuing to develop its UK-based operational capacity.
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Charitable activities delivered during the period included:
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Community engagement and awareness-building through digital platforms, particularly Instagram
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Delivery of small-scale outreach initiatives, including seasonal support activities such as Christmas food support and back-to-school provision in January 2025
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Provision of essential items, including clothing and basic necessities, to individuals and families experiencing need
All activities undertaken during the period were limited in scale and funded directly by the trustees. These activities were delivered in line with the charity’s available resources and in furtherance of its charitable purposes.
4. Achievements and Performance
As this was the charity’s first year of operation, the principal achievement has been the successful establishment of Dream Builder Trust as a functioning Charitable Incorporated Organisation (CIO), alongside the delivery of initial community support activities.
Key achievements
Key achievements during the period include:
- Successful registration and establishment of the charity as a Charitable Incorporated Organisation
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Development of appropriate governance structures, policies, and operational systems
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Delivery of initial outreach activities supporting individuals and families experiencing need
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Engagement of volunteers to support the delivery of charitable activities.
Impact
Although activities were modest in scale due to the early-stage nature of the organisation, the trustees are satisfied that the charity’s work during the period delivered meaningful and practical support to beneficiaries.
Support provided included the distribution of essential items and short-term assistance to individuals and families experiencing financial hardship. The trustees consider that these activities contributed positively to reducing immediate need and supporting community wellbeing.
The trustees recognise the importance of developing more formal impact measurement as the charity grows and have identified this as an area for future development.
Volunteers
The charity was supported by approximately three volunteers during the reporting period, who contributed to the planning and delivery of outreach activities. The trustees are grateful for the contribution of volunteers, whose support has been instrumental in enabling the charity to begin delivering its charitable objectives.
5. Financial Review
Overview
During the period ended 1 August 2025, Dream Builder Trust did not receive external income from donations or grants.
The charity’s activities were funded through contributions made by the trustees in support of its charitable purposes.
Total income: £1,950 Total expenditure: £ 1,950
The trustees confirm that the charity operated on a break-even basis during the period, with all costs met through trustee support.
Trustee-funded activities
During the reporting period, trustees personally met costs incurred in establishing and operating the charity. In accordance with the Charities Statement of Recommended
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Practice (SORP) (FRS 102), these contributions have been treated as donations from trustees , with corresponding expenditure recognised within charitable activities. Expenditure during the period included:
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Development of the charity’s website and domain setup
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Costs associated with the initiation of registration of the charity in Nigeria, in line with the requirements of the Corporate Affairs Commission (CAC)
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Delivery of outreach and community engagement activities
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Purchase and distribution of essential items to beneficiaries.
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Provision of small-scale direct support to families in need
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Digital communications, including social media promotion.
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Incidental operational costs, including postage, transportation, and printing.
All expenditure was incurred in furtherance of the charity’s objectives.
External donations
No external donations or grant funding were received during the reporting period. Any income received after the reporting date will be accounted for within the subsequent financial period.
Reserves
As the charity did not retain surplus funds during the period, no free reserves were held at the year end.
The trustees recognise the importance of establishing an appropriate reserves policy and will seek to build reserves in future periods to support the sustainability and continuity of the charity’s activities.
Financial controls
The trustees acknowledge that financial processes during the initial establishment phase were developing in nature.
Steps have now been taken to strengthen financial management arrangements, including:
Establishment of a dedicated charity bank account
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Implementation of formal financial controls and oversight procedures
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Ensuring that all future income and expenditure will be processed through the charity’s bank account.
The trustees are committed to maintaining appropriate financial controls in line with the expectations of the Charity Commission for England and Wales and relevant accounting standards.
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6. Plans for Future Periods
The trustees consider the reporting period to have been a foundational year focused on establishing the charity’s governance, systems, and initial activities.
Building on this foundation, the trustees have identified the following key priorities for the next reporting period:
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Further strengthening governance arrangements, including the continued development of financial controls, risk management processes, and safeguarding systems
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Expanding outreach programmes to increase the scale and consistency of support provided to individuals and families in need.
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Increasing beneficiary reach and enhancing the impact of the charity’s activities, including the development of more structured approaches to monitoring and evaluation
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Securing external funding, including grants and donations, to support the sustainability and growth of the charity’s work.
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Developing and formalising partnerships with local organisations and community groups to support delivery and extend reach.
The trustees have taken deliberate steps during the period to establish Dream Builder Trust as a structured and compliant charity operating across both the United Kingdom and Nigeria, with appropriate consideration given to governance, regulatory requirements, and operational delivery in each jurisdiction.
The trustees remain committed to developing the charity in a sustainable and responsible manner, ensuring that future growth is supported by appropriate governance, financial oversight, and safeguarding practices.
7. Fundraising Activities
No formal fundraising activities were undertaken during the reporting period, and the charity did not receive any income from fundraising.
The trustees recognise their responsibilities in relation to fundraising and confirm that any future fundraising activities will be conducted in accordance with applicable regulations and recognised best practice, including guidance issued by the Charity Commission for England and Wales.
The trustees are committed to ensuring that all future fundraising is carried out in a transparent, ethical, and responsible manner, with appropriate regard to the protection of donors and the public.
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8. Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including the Charities Statement of Recommended Practice (SORP) (FRS 102).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period.
In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP (FRS 102)
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity.
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. The trustees confirm that they have:
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Prepared the financial statements on a going concern basis.
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Maintained appropriate accounting records of the charity’s financial activity.
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Applied reasonable and consistent judgement in recognising trustee-funded contributions and associated expenditure.
9. Approval
This Trustees’ Annual Report was approved by the Board of Trustees on 20/04/26 and signed on its behalf by:
Signed: Omlak
Name: Funmi Lakanu Position: Chair of Trustees
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