Registered number 02773105
Charity number 1017231
LEEDS BLACK ELDERS ASSOCIATION
(Private Limited Company by guarantee without share capital use of 'Limited' exemption)
Report and Accounts
31 March 2023
LEEDS BLACK ELDERS ASSOCIATION Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Directors' report | 2 |
| Independent auditor's report | 4 |
| Profit and loss account | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 |
| Detailed income and expenditure statement | 12 |
LEEDS BLACK ELDERS ASSOCIATION Company Information
Management committee
Richard Minott (Chair) Patricia English (Secretary) Jean Angus (Treasurer) Neville H E Bourne (Director) Catherine Donnelly (Director) Sandra Simpson (Director) Sinclair Martin (Director) Sandra Simpson (Director)
Auditors
Adam & Co Accountancy Ltd Chartered Certified Accountants First Floor 1 Edmund Street Bradford West Yorkshire BD5 0BH
Bankers
Virgin Banking Moortown, Leeds LS17 6QA
Registered office
3 Reginald Terrace, Leeds, West Yorkshire, LS7 3EZ Charity number 1017231
Registered number
02773105 (Private Limited Company by guarantee without share capital use of 'Limited' exemption)
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LEEDS BLACK ELDERS ASSOCIATION Registered number: 02773105 Directors' Report
The directors present their report and accounts for the year ended 31 March 2023.
The trustees who are the directors under Companies Law and who served during the period are listed on page 1.
We are pleased to report that the finances of the Association at the end of 2022/2023, remains well controlled and has been actively monitored.
The Structure
The Association oversees and manages its finances through the Trustees which is chaired by the Chairperson. The Trustees receive a written or a verbal update every three months , on the progress of the budget at every meeting. Attention is drawn to specific income and expenditure areas which move away from their anticipated profile during the year. In many cases the causes of an under or overspend are due to the allocated budget not being set at an appropriate level at the beginning of the year. The budget also has to be sufficiently realistic to accommodate short term and unplanned expenditure.
The Trustees of the Association gives the direction to the Project Manager. The Project Manager will then delegate to the existing staff i.e. Project Worker, Activity Co-ordinator, Older Person Advocate, the Project Administrator-Finance Worker the Project Gardener, the Meals on Wheels driver and assistant.
The Charity is constituted to apply for funding either to fund a project or to fund a post. The actual core funding is from Leeds City Council and is given to the Association to assist in running the overall project.
Objectives and Activities
Leeds Black Elders Associations aim is to positively serve the community and offer the best service they can to the elders within the Leeds Area. To identify the needs of elders, in particular but not exclusively, the needs of ethnic minority and wherever possible to respond to such needs by directing or making appropriate provisions, within Leeds, also to strive forward, uphold good and acceptable standards of work.
Financial Review
The Trustees actively review the major risks which the charity faces on a regular basis and believes that maintaining reserves, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other key operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Directors' responsibilities
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LEEDS BLACK ELDERS ASSOCIATION Registered number: 02773105 Directors' Report
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
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so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
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he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 16 June 2023 and signed on its behalf.
Catherine Donnelly
Director
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LEEDS BLACK ELDERS ASSOCIATION Independent auditor's report to the members of LEEDS BLACK ELDERS ASSOCIATION
Opinion
We have audited the accounts of LEEDS BLACK ELDERS ASSOCIATION for the year ended 31 March 2023 which comprise the Profit and Loss Account, the Balance Sheet and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
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give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its loss for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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● have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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the directors' use of the going concern basis of accounting in the preparation of the accounts is not appropriate; or
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the directors have not disclosed in the accounts any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the accounts are authorised for issue.
Other information
The other information comprises the information included in the report and accounts, other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
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the directors’ report has been prepared in accordance with applicable legal requirements.
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LEEDS BLACK ELDERS ASSOCIATION Independent auditor's report to the members of LEEDS BLACK ELDERS ASSOCIATION
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the accounts are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.]
Based on our understanding of the company and its industry, we identified the main risks of non-compliance with laws and regulations applicable such as Company Law. We then considered those laws and regulations that have a direct impact on the preparation of the financial statements, which include Companies Act 2006, Charities Act 2011, SORPs, Taxation (PAYE/NI). We also considered and evaluated the company's management incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of over riding of internal controls. We determined that the principal risks for the company was relating to posting inappropriate journal entries to revenue, misuse of cash, expenditure and bias in accounting estimates. The audit procedures performed by the audit team were as follows: * Inspecting any correspondence with regulators and tax authorities. * Using sample substantive tests, observation and counting sample cash/donations collection and analytical review * Evaluating management controls designed to prevent and detect irregularities. * Dicussing with management and considering of known or suspected instances of non-compliance with laws, regulations and fraud. * Challenging management on their assumptions and judgements in regards to their critical accounting estimates. * Observing and evaluating security procedures that the management have in place to protect the company's assets.
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Shahbaz Munir (Senior Statutory Auditor) First Floor for and on behalf of 1 Edmund Street Adam & Co Accountancy Ltd Bradford Accountants and Statutory Auditors West Yorkshire 16 June 2023 BD5 0BH
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LEEDS BLACK ELDERS ASSOCIATION Profit and Loss Account for the year ended 31 March 2023
| Unrestricted Restricted Funds Funds 2023 £ £ £ Incoming resources Donations and grants received 1 130,683 - 130,683 Less resources expended Cost of income generation (6,958) - (6,958) Gross income 123,725 - 123,725 Administrative expenses (150,447) - (150,447) Operating (loss)/surplus (26,722) - (26,722) (Loss)/surplus before taxation (26,722) - (26,722) Tax on (loss)/surplus - - - (Loss)/surplus for the financial year 8 (26,722) - (26,722) |
2022 £ 178,427 (3,521) 174,906 (158,335) 16,571 16,571 - 16,571 |
|---|---|
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LEEDS BLACK ELDERS ASSOCIATION Registered number: 02773105 Balance Sheet as at 31 March 2023
| Notes Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Capital and reserves Surplus /deficit accumulated account 8 |
2023 £ 19,762 130,658 150,420 (1,600) 148,820 148,820 148,820 148,820 |
2022 £ 19,761 157,381 177,142 (1,600) 175,542 175,542 175,542 175,542 |
|---|---|---|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Catherine Donnelly
Director
Approved by the board on 16 June 2023
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LEEDS BLACK ELDERS ASSOCIATION Notes to the Accounts for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Voluntary income
The value of services provided by volunteers has not been included in the accounts.
Grants and donations
Grants, including grants for the purchase of fixed assets, are recognised in full in the period to which they relate, and are split depending on the nature of the incoming resource.
Resources expended
Resources expended are recognised in the period in which they relate on an accruals basis and split depending on the nature of the expenditure incurred.
Winding up or dissolution of the charity
If the charity were to be dissolved or wound up the trustees would pass any net assets to similar organisations and deserving causes.
Going concern
The Charity has sufficient cash at bank as at the year end and has raised further funds since then, which provide adequate resources to finance committed delivery programmes, along with the day to day operations. The trustees monitor the expenditure level and adjust development expenditure to ensure that expenditure is only incurred when sufficient funds are available to cover payments as they fall due. On this basis, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being a period of twelve months after the date on which this report and financial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements.
Purposes of Unrestricted/ Restricted Funds
Delivering mental health and other services to local community. The activities are described in the Trustees Report. Full analysis of income and expenditure is available on the last page.
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LEEDS BLACK ELDERS ASSOCIATION Notes to the Accounts for the year ended 31 March 2023
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Shahbaz Munir (FCCA) Firm: Adam & Co Accountancy Ltd Date of audit report: 16 June 2023
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LEEDS BLACK ELDERS ASSOCIATION Notes to the Accounts for the year ended 31 March 2023
| 3 Employees 2023 Number Average number of persons employed by the company 8 4 Tangible fixed assets Plant and machinery etc Motor vehicles £ £ Cost At 1 April 2022 46,400 12,225 At 31 March 2023 46,400 12,225 Depreciation At 1 April 2022 46,400 12,225 At 31 March 2023 46,400 12,225 Net book value At 31 March 2023 - - 5 Debtors 2023 £ Trade debtors (LCC) 19,762 6 Creditors: amounts falling due within one year 2023 £ Other creditors (audit fees -accruals) 1,600 7 (a) Analysis of assets and liabilities representing each of the charity's funds Balance Unrestricted Restricted at March funds funds 2022 £ £ Tangible fixed assets - - - Current Assets 177,142 150,420 - Current Liabilities (creditors) (1,599) (1,600) - Long Term Liabilities (creditors) - - - 175,543 148,820 - |
2022 Number 8 Total £ 58,625 58,625 58,625 58,625 - 2022 £ 19,761 2022 £ 1,600 Balance at March 2023 - 150,420 (1,600) - 148,820 |
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(b) Please see final page for SOFA unrestricted and resticted income and expenditure analysis
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LEEDS BLACK ELDERS ASSOCIATION Notes to the Accounts for the year ended 31 March 2023
| 8 Movement in Funds (Capital account) Unrestricted funds Restricted funds Total income and expenditure reconciled to balance sheet |
Balance at March 2022 £ 206,194 (30,650) 175,544 - |
Incoming Resources £ 130,683 - 130,683 |
Resources Expended £ (157,405) - (157,405) |
Balance at March 2023 £ 179,470 (30,650) 148,820 - |
|---|---|---|---|---|
7 Controlling party and related parties
Directors/ Trustees are the controlling party and are also related party.
There were no related party transactions during the period.
8 Other information
LEEDS BLACK ELDERS ASSOCIATION is a private company limited by guarantee and incorporated in England. Its registered office is:
3 Reginald Terrace, Leeds, West Y
Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the charitable company in the event of it being wound up, while they are a member or within one year of leaving if they cease to be a member.
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| LEEDS BLACK ELDERS ASSOCIATION | Charity number | |||
|---|---|---|---|---|
| Detailed income and expenditure statement | 1017231 | |||
| for the year ended 31 March 2023 | ||||
| Unrestricted | Restricted | |||
| Funds | Funds | 2023 | 2022 | |
| Income | £ | £ | £ | £ |
| Advocacy | - | - | - | 2,000 |
| Community foundation lunch club | 2,167 | - | 2,167 | 2,381 |
| Connect housing | 8,325 | - | 8,325 | 12,516 |
| Feel good factor | - | - | - | - |
| Funding and other donations | 15,260 | - | 15,260 | 30,550 |
| Misc. donations | 1,498 | - | 1,498 | 2,569 |
| LCC (Leeds city council) | 87,284 | - | 87,284 | 127,905 |
| Voluntary action Leeds(refunds for wages) | 16,149 | - | 16,149 | 506 |
| Total grants and donations | 130,683 | - | 130,683 | 178,427 |
| Less: Cost of income generation Purchases Other direct costs and volunteer expenditure |
5,945 1,013 |
5,945 - 1,013 |
- 3,521 |
|
| 6,958 | - 6,958 |
3,521 | ||
| Less: Administrative expenses Employee costs: Wages and salaries Pensions Staff training and welfare Travel and subsistence Motor expenses and vehicles expensed |
115,030 504 1,114 595 5,981 |
- - - - - |
115,030 504 1,114 595 5,981 |
114,021 - - 118 6,420 |
| 123,224 | - | 123,224 | 120,559 | |
| Premises costs: Rent Rates and water Service charges Light and heat Cleaning |
5,000 1,459 515 1,408 - |
- - - - - |
5,000 1,459 515 1,408 - |
5,000 1,634 606 1,218 39 |
| 8,382 | - | 8,382 | 8,497 | |
| General administrative expenses: Telephone and fax Stationery and printing Subscriptions Bank charges Insurance (indemnity) Equipment expensed (computer costs) Equipment hire Software Garden, repairs and maintenance Depreciation Sundry expenses (food/ refreshments etc) |
783 150 1,414 96 1,158 1,581 608 374 8,868 - 1,314 |
- - - - - - - - - - - |
783 150 1,414 96 1,158 1,581 608 374 8,868 - 1,314 |
1,851 2,113 2,657 - 1,804 1,110 2,244 214 11,490 167 1,144 |
| 16,346 | - | 16,346 | 24,794 | |
| Legal and professional costs: Audit fees Consultancy fees Other legal and professional |
1,975 - 520 |
- - - |
1,975 - 520 |
1,600 2,600 285 |
| 2,495 | - | 2,495 | 4,485 | |
| Total administration expenditure | 150,447 | - | 150,447 | 158,335 |
| Surplus/ (deficit) for period | (26,722) | - (26,722) |
16,571 | |
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