## **SOBI FOUNDATION LTD** 

**STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 30 September 2025** 

|Notes<br>**INCOMING RESOURCES FROM CHARITABLE ACTIVITIES**<br>General Donations<br>2<br>Other income|Un-restricted<br>funds<br>2025<br>£<br>480<br>-|Restricted<br>Funds<br>Total  Funds<br>Total  Funds<br>2025<br>2025<br>2024<br>£<br>£<br>£<br>-<br>480<br>3,845<br>-<br>-<br>-|
|---|---|---|
|**TOTAL INCOMING RESOURCES**|**480**|**-**<br>**480**<br>**3,845**|
||||
|RESOURCES EXPENDED|||
|Cost of Generating Funds<br>3<br>Charitable activities<br>Governance<br>4|483.00<br>100|483<br>4,483<br>-<br>100<br>420|
|**TOTAL RESOURCES EXPENDED**|**583**|**-**<br>**583**<br>**4,903**|
|Net income/(outgoing) resources<br>Total funds brought forward<br>**Total funds carried forward**|(103)<br>(1,158)|(103)<br>(1,058)<br>**1,158**<br>**-**<br>(100)<br>**-**<br>**(1,261)**<br>**(1,158)**|
||**(1,261)**||



All incoming resources are derived from continuing operations. The charity has no other gains or losses other than those recognised in the Statement of Financial Activities. 

For the year ending 30 September 2025, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006. 

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts. 

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by: 

**Stephen OBIDIKEon behalf of the trust.** Trustee **04 March, 2026** 

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## **SOBI FOUNDATION LTD BALANCE SHEET AS AT 30 September 2025** 

|Notes<br>CURRENT ASSETS<br>Cash at bank and in hand<br>5<br>Current Liabilities<br>Creditors: amounts falling due within one year<br>6<br>Non Current Liabilities<br>Creditors: amounts falling due after one year<br>Net Current assets/(Liabilities)<br>FINANCED BY:<br>Unrestricted funds<br>8<br>Restricted Funds<br>10<br>TOTAL FUNDS|2025<br>2024<br>Total<br>Total<br>£<br>£<br>3<br>6|
|---|---|
||3<br>6<br>1,264<br>1,164<br>-|
||1,261<br>-<br>1,158<br>-|
|||
||1,261<br>-<br>1,158<br>-|
||1,261<br>-<br>103<br>-<br>-<br>-|
||1,261<br>-<br>103<br>-|



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## **SOBI FOUNDATION LTD** 

**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 September 2025** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparation** 

The financial statements have been prepared under the historical cost convention.  The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards. 

## **Cash flow statement** 

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds that the charity is below the threshold specified in Appendix 2 of the FRS1. 

## **Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes.  The costs of raising and administering such funds are charged against the specific fund.  The aim and use of each restricted fund are set out in Note 2. 

Investment income and gains are allocated to the appropriate fund. 

## **Incoming resources** 

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued. 

## **Resources expended** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.  Premises overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count. 

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements.  The basis of allocation for support costs and governance costs has been explained in Note 3. 

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## **SOBI FOUNDATION LTD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 September 2025** 

Note 2. Incoming Resources - General Donations 

|General Donations<br>Other income<br>Note 3.<br>Resources Expended - Activities<br>Bank charges<br>Educational Materials<br>Mobile & Internet<br>Sundry expenses<br>Travel and subsistence<br>Volunteer Expenses<br>Note 4.<br>Resources Expended – Governance<br>Accountancy<br>Other professional fees<br>Note 5.<br>Cash at bank and in hand<br>Cash at bank<br>Cash at hand|Unrestricted<br>Funds<br>£<br>480<br>**480**<br>Unrestricted<br>Funds<br>£<br>3<br>480.00<br>**483**<br>Unrestricted<br>Funds<br>100<br>**100**<br>2025<br>£<br>3<br>-<br>**3**|Restricted<br>Funds<br>£<br>-|2025<br>2024<br>Total<br>Total<br>Funds<br>Funds<br>£<br>£<br>480<br>3,845<br>-<br>-|
|---|---|---|---|
|||**-**|**480**<br>**3,845**|
|||Restricted<br>Funds<br>£|2025<br>2024<br>Total<br>Total<br>Funds<br>Funds<br>£<br>£<br>3<br>-<br>-<br>1,061<br>-<br>960<br>480<br>1,086<br>-<br>1,376<br>-<br>-<br>-<br>-|
|||**-**|**483**<br>**4,483**|
|||Restricted<br>Funds<br>£<br>-<br>-|2025<br>2024<br>Total<br>Total<br>Funds<br>Funds<br>£<br>£<br>100<br>420<br>-<br>-|
|||**-**|**100**<br>**420**|
|||2024<br>£<br>6<br>-||
|||**6**||



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Note 6. Creditors: amounts falling due within one year 

|This is made up as follows:<br>Accountancy Fees<br>Other creditors<br>Note 7.<br>Movement in funds<br>Unrestricted funds<br>Charity's fund<br>Restricted funds<br>Grants<br>Note 8<br>Analysis of net assets by fund<br>Cash at bank and in hand<br>Other net assets (liabilities)|2025<br>£<br>1,264<br>**1,264**<br>Opening<br>balance<br>£<br>-<br>-<br>-<br>-<br>Unrestricted<br>Funds<br>£<br>3<br>1,264<br>-<br>1,261<br>-|2024<br>£<br>1,164|Resources<br>expended<br>£<br>(583)<br>(583)<br>-<br>-<br>2025<br>2024<br>Total<br>Total<br>Funds<br>Funds<br>£<br>£<br>3<br>6<br>1,264<br>-<br>1,164<br>-|
|---|---|---|---|
|||**1,164**||
|||Incoming<br>resources<br>£<br>480||
|||480||
|||-||
|||-||
|||Restricted<br>Funds<br>£<br>-<br>-||
|||-|1,261<br>-<br>1,158<br>-|



## Note 9. TRUSTEES REMUNERATION 

The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2024-2025: £nil) 

- Note 10. As a charity, SOBI FOUNDATION LTD is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its objects. No tax charges have arisen in the Company. 

## Note 11. Control 

The ultimate controlling parties are the directors’ as stated on page 2. 

## **Note 12. TAXATION** 

SOBI FOUNDATION LTD is a registered charity and is thus exempt from taxation of its income and gains falling within Section 505 of the Income and Corporation Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year. 

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