LF FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £1,833 for the year, with total income of £312,560 and charitable expenditure of £314,394. Per the trustees' report, unrestricted reserves were held at £32,802, which falls below the stated policy target of £22,500–£45,000, though the trustees consider these sufficient to manage ongoing operations.
What the accounts disclose
“The trustees' policy is to have unrestricted and uncommitted funds (cash free reserves) of £22, 500 — £45,000 to cover 3 to 6 months of resources expended.” — page 5
“LF Foundation is currently in an operating lease with Immanuel Childcare Ltd where Mrs Theodora Adebanjo, a trustee, is a director of the company.” — page 13
“The financial statements of LF Foundation’s subsidiary, Living Faith Foundation, are consolidated with the financial statements of LF Foundation on a line-by-line basis.” — page 11
Trustees
- DANIEL IHIABE
- DR SOLA ADEAGA
- Dr Robin Lawrence
- JOSEPH ADEGBENRO OLAIYA
- OLUSEGUN OLATAYO-MOSES
- THEODORA ADEBANJO
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/08/2025 | £248k | £250k |
| 31/08/2024 | £313k | £314k |
| 31/08/2023 | £286k | £327k |
| 31/08/2022 | £355k | £249k |
| 31/08/2021 | £225k | £211k |
Common questions
Is LF FOUNDATION financially healthy?
The accounts state that the charity reported a net deficit of £1,833 for the year, with total income of £312,560 and charitable expenditure of £314,394. Per the trustees' report, unrestricted reserves were held at £32,802, which falls below the stated policy target of £22,500–£45,000, though the trustees consider these sufficient to manage ongoing operations. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE AMATEURS TRUST | 1 | £90k |
| THE EDWARD AND DOROTHY CADBURY TRUST | 1 | £3k |
| United by 2022 Charity | 1 | £1k |