CAMDEN SOMALI CULTURAL CENTRE
Accounts & Reports
For the year ended 31 March 2022
## CAMDEN SOMALI CULTURAL CENTRE
Contents For the year ended 31 March 2022
||Page|
|---|---|
|Legal and administrative information|1|
|Trustees’ report|2-3|
|Independent examiner’s report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7-10|
## CAMDEN SOMALI CULTURAL CENTRE
Legal Information For the year ended 31 March 2022
Status: The organisation is a charity registered with the Charities Commission in England & Wales. Charity Number: 1024738 Registered Office &Headquarter Business Address: 107 Kingsgate Road London NW6 2JH Trustees: Mr Abdisamad Farah (Treasurer) Mr Abdiwali Ahmed Farah (Chair) Mr Abdikayf Bashir Farah Bankers: Barclays Willesden and Notting Hill Group PO BOX 37 50 NW10 6AQ Accountants: Issa & Co (UK) Chartered Certified Accountants 40A Maygrove Road London NW6 2EB
1
## CAMDEN SOMALI CULTURAL CENTRE
## Trustees Report
## For the year ended 31 March 2022
## _Objective_
Camden Somali Cultural Centre set up to support Somali community through the provision information, services and support to foster community cohesion and eradicate the poverty faced by this marginalised community group by introducing education and training opportunities, advice and advocacy services and a range of programmes targeting all age groups to increase community participation in civic and community life.
## _Legal structure_
Camden Somali Cultural Centre is a registered charity with the Charities Commission in England & Wales.
## _Financial statements_
The trustees submit their trustees’ report and financial statements for the year ended 31 March 2022.
## _Policies:_
_Reserve policy:_
The charity currently operates with minimal reserves. The trustees are endeavouring to build up its donor base with a view to having reserves equal to 4 months operating expenditure.
## _Risk(s) review:_
The trustees have recently reviewed the major risks faced by the charity. This has resulted in efforts to get funds to employ co-ordinator, assistant and increase charity’s donor base.
## _Trustees Responsibilities_
The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the relevant regulations.
The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity.
Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the constitution.
2
## CAMDEN SOMALI CULTURAL CENTRE
## Trustees Report (Continued)
For the year ended 31 March 2022
## _Activities and Achievements_
The core of the charity’s work post pandemic now focuses on advice and information work. Parental support with Advocacy and support accessing Education, Housing, SEND help, As well as adult social care support. We also work to support the community to access cultural and history through arts, cultural events, and support to hold on to and celebrate Somali Culture and historical traditions such as storytelling, song, and language. The financial climate has significantly changed in the UK and had a dramatic impact on the lives of not only our service users but the whole of the British population, we therefore do more work to tackle poverty because of the cost-of-living crisis for our community.
We had a significant financial shortfall, and this was managed and met with supporting families to access food and cost of living grants, by increasing our involvement with Camden Advice Network as a partner with Kosmos and applied jointly for funding to continue this work. The council also released held funding for the previous financial year and awarded us a grant to meet the impact Pandemic and lockdown as well as cost of living had on the organisation, with this funding we have been able to support staff and the community by upskilling our team to work remotely and increase local help form our workers who still worked from home in the community.
CSCC is in a period of change, and we are working to improve governance and support for frontline staff who have not been able to complete all tasks in the period of financial short fall and yet they continue to deliver excellent services. We aim to work with partners to improve our infrastructure in the communing years so we can grow and sustain our service while meeting all obligations to governance and our core and small staff team.
.
## _Funding_
The charity would like to thank all those who generously funded and supported our activities. It is through their support that the charity has largely been able to implement our projects for the benefit of our community. These include London Borough of Camden.
This report was approved by the board and signed on its behalf by:
Chair A. A. Farah
Date: 20[th] October 2023
3
## CAMDEN SOMALI CULTURAL CENTRE
## Independent Examiners Report
For the year ended 31 March 2022
I have examined the accounts on pages 5 to 6, which have been prepared on the basis of receipt and payment basis.
## _Respective responsibilities of trustees and examiner_
The trustees of the charity are responsible for the preparation of accounts; we consider that the audit requirement under section 43(2) of the Charities Act 1993 does not apply. It is my responsibility to examine the accounts, without performing an audit, and to report to trustees.
## _Basis of independent examiner’s report_
This report is in respect of an examination carried out under section 43 of the Charities Act 1993 and in accordance with the directions given by the charity commissioners under section 43(7)(b). An examination includes a review of the accounting records kept by the charity trustees and a comparison of the accounts presented with those records. It also includes a review of the accounts and making such enquiries as are necessary for the purpose of this report. The procedures undertaken do not constitute an audit.
_Independent examiner’s statement_
Based on my examination, no matter has come to attention which gives me reasonable cause to believe that in any material respect accounting records for the year ended 31 March 2022 have not been in accordance with section 41 of the Charities Act 1993, or that the accounts presented do not accord with those records or comply with the accounting requirements of the Charities Act 1993. No matter has come to my attention in connection with my examination to which, in my opinion, attention should be drawn to enable a proper understating of the accounts to be reached.
## _Issa Associates_
Issa & Co (UK) Chartered Certified Accountants 40a Maygrove Road London NW6 2EB
Date: 20[th] October 2023
4
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Statement of Financial Activities**
## **For the year ending 31 March 2022**
|**Notes **
**_Incoming resources_**
From charitable activities
2
Investment income
2
**Total incoming resources**
**_Resources expended_**
Charitable activities
3
Governance costs
4
**Total Resources Expended**
Net resources for the year
Fund balances at 1 April 2021
**Fund balances at 31 March 2022**|**Unrestricted**
**funds**
**£**
-
-
**-**
-
-
**-**
-
-
**-**|**Restricted**
**funds**
**£**
52,108
-
**52,108**
42,125
500
**42,625**
9,484
13,030
**22,514**|**2022**
**2021**
**Total**
**Total**
**£**
**£**
52,108
7,210
-
-
**52,108**
**7,210**
42,125
8,906
500
500
**42,625**
**9,406**
9,484
(2,195)
13,030
15,225
**22,514**
**13,030**|
|---|---|---|---|
5
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Balance Sheet**
## **For the year ending 31 March 2022**
|Notes
**_Fixed assets_**
Tangible assets
5
**_Current Assets:_**
Debtors
6
Cash at bank and in hand
**_Creditors:_**_amounts falling_
due within one year
7
**_Net Current Assets_**
**_Total Assets less current liabilities_**
**_Funds of the charity:_**
Surplus/(deficit) as at 1 April 2021
Surplus/(deficit) for the year|2021
£
£
£
£
404
702
5,500
5,500
17,110
7,328
22,610
12,828
(500)
(500)
22,110
12,328
22,514
13,030
13,030
15,225
9,484
(2,195)
22,514
13,030
2022|
|---|---|
|||
The statement of financial activities as set out on page 5 for the financial year ending 31 March 2022, and the statement of assets and liabilities as set out on this page are as approved by the trustees on 20 October 2023.
Treasurer Abdisamad Farah
6
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Notes to the Accounts**
## **For the year ending 31 March 2022**
## **1 Accounting Policies**
- _1.1 Basis of accounting_
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice, _Accounting and Reporting by Charities_ (Revised SORP 2015) and the Financial Reporting Standards for Smaller Entities.
- _1.2 Incoming Resources_
Grants and donations are recognised on accruals basis.
Incoming resources are reported gross.
## _1.3 Resources Expended_
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
- _1.4 Depreciation_
Tangible fixed assets are stated at cost less depreciation.
Provision for depreciation of tangible fixed assets held by the charity is made at an annual rate of 25% on a straight line basis.
## _1.5 Status_
The charity is registered with the Charities Commission in England & Wales.
7
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Notes to the Accounts**
## **For the year ended 31 March 2022**
## **2. Grants and Donations**
|Camden Recovery - Cost of Living
Camden Coucil
Hampstead Wells & Campden Trust
Other Charitable donations
**2. Investment Income**
Interest receivable
Total Incoming Resources|Unrestricted
Funds
£
-
-
-
-
-
Unrestricted
Funds
£
-
-|Restricted
Funds
£
10,000
35,000
2,200
4,908
52,108
Restricted
Funds
£
-
52,108|2022
Total
2021
Total
£
£
10,000
-
35,000
-
2,200
850
4,908
6,360
52,108
7,210
2022
Total
2021
Total
£
£
-
-
52,108
7,210|
|---|---|---|---|
8
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Notes to the Accounts**
## **For the year ending 31 March 2022**
## **3a. Direct Charitable Expenditure**
|Wages & salaries
Homework & Supplementary school
Outings and events
**3b. Support Costs**
Insurance
Total Charitable Activities
**4. Governance**
Total Resources Expended
Legal and Professional
Telephone, fax, Internet
Cost of living Crisis
Depreciation
Rent & service charges
Sessional staff & volunteers|Unrestricted
Funds
£
-
-
-
-
-
-
-
-
Unrestricted
Funds
£
-
-
-
-
Unrestricted
Funds
£
-
-
-|Restricted
Funds
£
1,550
14,749
2,070
6,020
7,637
9,800
-
41,826
Restricted
Funds
£
-
298
298
42,125
Restricted
Funds
£
500
500
42,625|2022
Total
2021
Total
£
£
1,550
650
14,749
5,105
2,070
425
6,020
1,550
7,637
-
9,800
-
-
878
41,826
8,608
2022
Total
2021
Total
£
£
-
-
298
298
298
298
42,125
8,906
2022
Total
2021
Total
£
£
500
500
500
500
42,625
9,406|
|---|---|---|---|
9
## **CAMDEN SOMALI CULTURAL CENTRE**
## **Notes to the Accounts**
## **For the year ending 31 March 2022**
|**5**
**Tangible Fixed Assets**
Camden Council
Accruals
**7. Creditors – Amounts falling due within one year**
**6. Debtors**
**Net Book Value**
At 31 March 2022
At 31 March 2022
At 1 April 2021
Charged in the Year
At 31 March 2021
**Depreciation**
At 1 April 2021
At 31 March 2022
Additions
**Cost**|**Office**
**Equipment**
**Total**
**£**
**£**
6,931
6,931
-
-
6,931
6,931
6,229
6,229
298
298
6,527
6,527
404
404
702
702
2022
2021
£
£
5,500
5,500
5,500
5,500
2022
2021
£
£
500
500
500
500|
|---|---|
10