Filing Bi-annual Statement of Affairs (Incorporated Trustees)

Name: Filing Bi-annual Statement of Affairs (Incorporated Trustees)
SKU: 26428
Price: 25000.00 NGN
Availability: InStock

₦25,000.00

BI-ANNUAL STATEMENT OF AFFAIRS OF INCORPORATED TRUSTEES

Key Features of Bi-annual Statement of Affairs

Mandatory Filing: All organizations registered as Incorporated Trustees under the Companies and Allied Matters Act (CAMA) must file this statement. This includes churches, charities, clubs, associations, and other non-profit entities.
Filing Frequency: The Bi-annual Statement of Affairs must be filed twice a year, covering the periods - January 1st to June 30th (due by July 15th) and July 1st to December 31st (due by January 15th).
Deadline Compliance: Trustees must file within the specified deadlines to avoid daily penalties for late submission.
Income Reporting: The statement includes details on various income sources, such as - Subscriptions/Contributions, Donations/Grants, and Other income types with specific descriptions and amounts.
Liabilities Reporting: Trustees must report on liabilities, which may include - Judgments, Contracts, Estimated liabilities, and Other types of liabilities.
Asset Reporting: The statement requires details on the association’s assets, including - Cash at the bank, Cash on hand, and Other assets, with respective values.

Incorporated Trustee Information: Registration Number, Business name in full, Nature of business, Registered Office Address, and Date of Filling (dd/mm/yyyy).
Statement Period: The specific 6-months period covered by the statement (e.g., January 1st to June 30th or July 1st to December 31st).
Income Details: Provide the Value of subscriptions or contributions, the Value of donations or grants, and Details and description of other income generated (e.g., source and value).
Liabilities of the Association: Provide details of Judgments (monetary value), Contracts (monetary value), Estimated liabilities (monetary value), Other liabilities (description and value).
Assets of the Association: Provide details of Cash at the bank, Cash at hand, and Other assets (description and monetary value).
Updated Annual Returns Filing: Before filing for any Post-registration changes, ensure that all annual returns for the Incorporated Trustees are up to date.
Authorization: The application must be signed by the trustees, secretary, or an authorized representative of the Association.

Legal Compliance: Ensures adherence to Section 845 of CAMA 2020, avoiding legal penalties and maintaining the organization's good standing.
Transparency and Accountability: Demonstrates responsible financial management and transparency in operations to stakeholders and regulatory bodies.
Enhanced Trust: Builds confidence among donors, members, and the public by showcasing the organization's commitment to proper governance.
Penalty Avoidance: Timely filing helps prevent daily penalties for non-compliance, reducing unnecessary financial liabilities.
Access to Opportunities: Maintains eligibility for grants, government support, and partnerships that require proof of compliance.
Regulatory Record Updates: Ensures the Corporate Affairs Commission (CAC) has accurate and up-to-date records of the organization.