Charity registration number 1025525 WYCOMBE MULTICULTURAL ORGANISATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024
WYCOMBE MULTICULTURAL ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr T Adoh Mr K Bonsu Mr H Oriabure Mr L BLrte Mr B Lewis Ms J Joseph Charity number 1025525 Independent examiner Azets Audit Services Suites B & D Bumham Yard Beaconsfield Buckinghamshire HP9 2JH
WYCOMBE MULTICULTURAL ORGANISATION CONTENTS Page Trustees report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 9-23
WYCOMBE MULTICULTURAL ORGANISATION TRUSTEES REPORT FOR THE YEAR ENDED 28 FEBRUAR Y 2024 The trustees present their annual report and financial statements for the year ended 28 February 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's, the Charities Act 2011 and "Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). Our Mission Our mission is to provide support and SeNiS that will improve the educats'onal, economic, social, physical, and spiritual well-being of theAfricanlCaribbean community in High Ilfycombe and its surrounding areas. Our Ob"ectives Wycombe Multicultural Organisation (WMCO) is a community charity that represents and will be the HUB of the interests of approximately 9600 people (as per the 2021 census) from African Caribbean heritage backgrounds in High Wycombe and the surroundin9 area. As a community organisation and a facility provider we can offer several different activities and SeiceS at the Hilltop Community Centre which benefit the community. Youth Su ort Akacia Complementary Saturday school caters for the extra-curricular needs of African Caribbean children aged 5-16 years. Education catchup revision courses for Year 11 children about to take their GCSE exams and preparing the Year 10 children one year before their exams. WMCO will work with our local partners to provide Community Mentoring projects to promote social cohesion by connecting young people with a diverse range of passionate volunteers from the community. WMCO is seeking to set up a regular youth dub for those under 16. Communi Fundin WMCO will actively seek and apply for funding that would benefit the community which emphasis on our youth and their education, general health and well-being and the support of our senior citizens. Leisu activities Arts Craft and Music We have a dedicated Leisure Officer and team who are responsible for the ongoing leisure time activities for the Organisalion and the community- They plan and develop fundraising activities and events and work with other organisations to share views and develop working relationships such as joint ventures. Members Su ort We have a dedicated Social Welfare Officer vtho actively keeps in contact wth members that may fall ill, suffer from a family bereavement or we have not had contact for some time.
WYCOMBE MULTICULTURAL ORGANISATION TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 anise Annual Communi Events I Celebrations We organise annual celebrations for the community vthich includes Black History month celebrations, St Vincent Independence Day, the annual Christmas dinner for the elderly, the annual community BBQ, the annual cinema movie for children as well as a seaside trip to popular coastal destinats'ons. Senior Citizens Su ort WMCO set up a weekly program called the Movers & Shakers where the senior citizens meet weekly for three hours to exercise, discuss health issues with guest speakers and enjoy lunch together and reminisce about the good old days. Social Media Communication WMCO will regularly update our social media {i.e. Fabook and Instagram) with content that informs and benefits the community in a variety of areas such as: Graduate schemes that want applications from the African Caribbean graduates Current affairs and topics Recent community deaths and funeral dates Social & fund raising events Provide services to the local community Education and training Akacia Supplementary Saturday School Specialist tutoring, e.g. GCSE revision courses Training and support for people with special needs Advice and support for people who need help developing the employability skills Social and leisure activities Throu h our Hillto communi centre we rovide s aces for various s orts social and leisure activities Sports clubs Private social functions such as weddings: birthdays and christenings Dominoes club and other social get-togethers Cultural events Baby and toddler groups Hosting of community events and lebratIonS Welfare services Access to health clinics and health programmes Senior citizens support group Hardship support Community Hub sical communi hub forthe local African Caribbean communi Through the website and social media become the advertising and communications hub for the community Raise funds for the benefit of the local communi WMCO actively seeks and applies for funding that would benefit the community, with an emphasis on young people and their education, general health, well-being and support of our senior citizens, and cultural enrichment.
WYCOMBE MULTICULTURAL ORGANISATION TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Achievements and performance Chairnian's comments: It was a fantastic year with many projects delivered as highlighted above. WMCO key achievements included: The new kitchen and bar have significantly enhanced the offering of the Hilltop centre and has increased the revenues to offset significant energy cost increases. We were successfully in receiving funding from the Sackler Trust to hold Math's revision courses for the Year 11 students taking their GCSE Math's exams the summer of 2024. We recruited 5 expert Math's teachers from the same background who delivered an excellent revision course for 35 of our local children to prepare them for their exams. Most of the children achieved or exeded their predicted grades. WMCO set up a 30-week program called the Movers & Shakers, funded by The Heart of Bucks, where the senior citizens met weeY for three hours to exercise, discuss health issues with invited guest speakers and enjoy lunch together to reminisce about the good old days. MNCO in collaboration with the High Commission of St Vincent and the Grenadines organised and held the annual Thanksgiving celebration with 140 local vinntian diaspora residents in the Hilltop Centre. The IANCO membership has significantly increased to 140 in February 2024 compared to 92 in February 2023. to 54 in February 2022 and 26 in September 2021. The financial perfomiance of the charity was very healthy with an increase of 330A in grants along with an increase of 46% in Other Trading activities such as the Bar income. The income from the Hall Hire slightly decreased by 30kn to £63,983. The grants received were £79.485 in total from the following funders to which we are gratefijl for their support especially the National Lottery Community Fund who has confimied a further 5 years of support.. National Lottery Community Fund- £66,585 Bucks Helping Hand- £1,400 Heart of Bucks General Fund - £5,000 Heart of Bucks Micro Grant- £2,000 The SacklerTrust- £3,000 W.G. Edwards- £1,500 I would like to express my gratitude to the regular hall hirers, our growing membership, our volunteers, the dedicated staff and to the funders listed above and Bucks Council for their support of the WNCO charity. Best Wishes Brian Lewis Chairman
WYCOMBE MULTICULTURAL ORGANISATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Flnancl*l rnvlew The Trustees have kept under revlew the reserves pollcy. Consldefatlon was glven lo lundlng rlskg and funds are kept at a level to ensure all fin8nclal commltments can be met. The unrestrFcted funds are available to be spent for any ol ihe purposes of Ihe charfty. Unrestrfcted general and deslgnaled funds at Ihe year end were £185.487 (2023: £120,193). The balanee of the resirfcted funds at the year end wag £137,493 (2023: £146,697). Rlsk manag•ment The tnjstees have assessed the major risks lo whlch the charfty Is exposed, and are sali5fied that systems ar8 In place to mitigate exposure to the major rlsks. Structure. gov•mane• and managèment Wycombe MultiltUral Organlsation Is controlled by Its govemlng document, a constitution adopt8d on 28 March 1993. Its worklng name is WMCO. The trustees who served durfng the year and up to the date of signature of the financial statements were: Dr T Adoh Mr K Bonsu Mr H Oriabure Mr L Bute Mr B Lewis Ms J Joseph Recrultment and appolnlment of new trustees The Organisation is managed by a group of Trustees and a Management Committee, whom are elected at the AGM. The Committee comprises of members (volunteer5} With a diverse range of skills and backgrounds. All Committee members are people from the local communty and have a genuine interest in the benefits that the Organlsatlon brfngs to those who live In the Wycombe District" Working together to meet their s(xial. cumural and educational needs of the community. The trustees report was approved by the Board of Trustees. Mr B Lewls Chairman of Dated: . 1.7. rustees
WYCOMBE MULTICULTURAL ORGANISATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WYCOMBE MULTICULTURAL ORGANISATION I report to the trustees on my examination of the financial statements of Wcombe Multicultural Organisation {the charity} for the year ended 28 February 2024. Responsibilities and basis of report As the trustees of Ihe charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charitys financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord wth those records" or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mr C Nisbet FCA Azets Audit Seriices Suites B & D Burnham Yard Beaconsfield Buckinghamshire HP9 2JH 1811212024
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WYCOMBE MULTICULTURAL ORGANISATION BALANCE SHEET AS AT 28 FEBRUARY2024 2024 2023 Nol•• Flxed ••s•t• Tanglbh as$èls 12 105.374 121,258 Curr•nt asi•t• Stocks Debtorn Cash at bank and In har 13 14 3,153 4,237 223.766 2,869 6,801 149,627 231,156 159,297 Cr•dltorn: amounts falllng du• wlthln on• y•ar 15 (13,550) (13.665) Net Cxffrent assets 217,608 145.632 Total assets less Current Ilabllltle$ 322.980 266.89) Income fvnds Restricted funds Unrestricted funds 17 137.493 185.487 146,697 120.193 322,980 266.890 17 The financial statements were approved by the Trustees on .... .... Mr B Lewis Trustee
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Accounting policies Charity information Wycombe Multicultural Organisation is a registered charity. controlled by it's governing document, a constitution adopted on 28 March 1993. It's principal address is Hilltop Community Centre, Crest Road, High combe, Bucks, HP11 1UA. 1.1 Accounting convention The financial statements have been prepared in accordan with the charity's governing document, the Charities Act 2011 and °A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slatement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised On the charity has been notified of the donation, unless perfom)ance conditions require deferral of the amount. Grants receivable are accounted for when there is sufficient information to enable the claim to be made or the claim has been made and there is clear indication to suggest the claim will be met. Grants which have conditions or time restrictions attached are deferred until these conditions or restrictions have been met. 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Accounting policies {Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the Cost or valuation of assets less their residual values over their useful lives on the following bases= Leasehold improvements Fixlures and fittings Computers Over 10 years straight line Over 4 years straight line Over 3 years straight line 1.7 Stocks Stocks are valued at the lower of cost and net realisable value. after making due allowan for obsolete and slow moving items. 1.8 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.9 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 10-
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WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Charitable activities 2024 2023 Miscellaneous income Football club income Amounts received for hall hire 235 2,282 63,983 165 3,346 66,121 66,500 69,632 Analysis by fund Unrestricted funds - general Restricted funds 64,218 2,282 66,286 3,346 66,500 69,632 Other trading activities Unrestricted Unrestricted funds funds general general 2024 2023 Membership subscriptions Fundraising events 2,629 74,677 1,515 51,448 Other trading activities 77,306 52,963 Investments unstrICted Unrestricted funds funds general general 2024 2023 Interest receivable 1,884 113 12-
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Other income Total Unrestricted funds general 2023 2024 Buckinghamshire Council - rent subsidy 13,000 13-
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WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Charitable activities Provision of Provision of the Centre the Centre 2024 2023 Staff costs Insurance Utilities Rent Telephone Sundries Repairs and maintenance Administration Cleaning and admin support Subscriptions and licenses IT software and support Postage and stationery Travel costs Meals and activities Tutors and education resources Football club costs 46,361 1,819 13,373 15,000 1,434 3,172 12,570 1,196 8,349 1,128 1,618 84 2,584 2,990 5,717 166 47,792 2,265 7,314 15,000 1,289 4,417 15,711 642 9.225 1.269 2,589 117 364 1,971 14,910 1,233 117,561 126,108 Share of support costs {see note 9) Share of governance costs (see note 9) 22,097 4,920 24.822 3.724 144,578 154,654 Analysis by fund Unrestricted funds - general Restricted funds 47,622 96,956 64,396 90,258 144,578 154,654 15-
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Support costs Support Governance costs costs 2024 2023 Depreciation 22,097 22,097 24,822 Independent Examination Fee Professional fees 2,520 2,400 2,520 2,400 2,400 1,324 22,097 4,920 27,017 28,546 Analysed beeen Charitable activities 22,097 4.920 27,017 28.546 10 Trustees None of the trustees (or any persons connected bmth them) received any remuneration during the year. None of the trustees received gifts during the year. In the prior year no trustees received gifts during the year Six of the Trustees were reimbursed for expenses incurred of £2,940 (2023.. £nil) 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 45,536 48,547 {1,658) 903 825 46,361 47,792 There were no employees whose annual remuneration was more than £60,000. 16-
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 12 Tangible fixed assets Leasehold Fixture5 and improvements fittings Computers Total Cost At 1 March 2023 Additions 170,773 30,406 6,214 6,817 207,996 6,214 At 28 February 2024 170,773 36,620 6.817 214.210 Depreciation and impaimient At 1 March 2023 Depreciation charged in the year 57,151 17,077 23,348 4,731 6,240 289 86,739 22,097 At 28 February 2024 74,228 28,079 6,529 108,836 Carrying amount At 28 February 2024 96,545 8,541 288 105,374 At 28 February 2023 113,622 7,058 578 121,258 13 Stocks 2024 2023 Bar stock 3,153 2,869 14 Debtors 2024 2023 Amounts falling due within one year: Prepayments and accrued income 4,237 6.801 15 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 613 6,019 6,918 929 7,627 5,109 13,550 13.665 17-
WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 16 Retirement benefit schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 18-
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WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 18 Designated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. Balance at 1 March 2022 Transfers Balance at 1 March 2023 Transfers Balance at 28 February 2024 Centre Refurbishment Fund 7,000 17,000) 7,000 17,000) The Centre Refurbishment fund relates to donations received through fundraising events and has been utilised for the refvrbishment of the community centre. 21
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WYCOMBE MULTICULTURAL ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 20 Related party transactions There were no disdosable related paty transactions during the year (2023 - none). -23-