Somall Bravanese Welfare Association in Barnet ReDOrt of the Trustees and Unaudited Re ort and Financial Statements for the ear ended 31 December 2023 Charity Registration No. 1056856 Duboff Razak Kingsbury House 468 Church Lane London NW9 8UA T: 020 8200 2380 E: peter@duboff.co.uk Somali Bravanese Welfare Association in Barnet al & administrative information for the ear ended 31 December 2023 Trustees AMAII S A Mohamed MrsSMNur Mts A Habib A Sheiba Prlnclpal address Tarling Road Community Centre 20 Fallow Close London N2 8LG Independent Examiner Peter Duboff FCA Duboff Razak Kingsbury House 468 Church Lane London NW9 8UA Somali Bravanese Welfare Association in Barnet Contents of the Financial Statements for the ear ended 31 December 2023 Trustees, Report Independent examiner's report ststement of financial activities Balance sheet Notes to the financial ststements Somall Bravanese Welfare Association in Barnet Re ort of the Trustees for the ear ended 31 December 2023 The Iiuslees present their annual report on the affairs of the charity, logelher wlh financial statements lor the year ended 31 December 2023. The financial slalemenls have been prepared in accordance with the Charity's trust deed, the Charities Act 2011 and the Slalemenl of Recommended Praclise ISORPI, Accounting and Reporting by Charities 2015. Trustees and Directors The Trustees in office during the year lo 31 December 2023 were as follows'_ Mrs A Habib Ichairoersonl AMAII S A Mohamed MrsSMNur Mrs A Flabib A Sheiba Objectives and Activities The charity's objects and principal aclivilies are as follows.. lil to improve and advance the education of the refugees from Somalia lill lo supply a business networking foium and teach life skills Structure Governance and Management The charity is controlled by ils goveming document. a deed of trust, and con5titules an unincorporated charity- Risk Management The Iruslee5 have a duty lo identify and review the risks to which the charity is exposed and to ensure 2ppropriale controls are in place to provide reasonable asS￿'ranCe against fruad and error. Financial review, investment policy and reserves The company's incoming resources amounted to £102.467 and outgoing resOUr￿S were £90.384. Closing net reserves amounted to £57,04712022. £44,964). Page 1 Somali Bravanese Welfare Association in Barnet Re ort of the Trustees continued for the ear ended 31 December 2023 Trustees Responsibillties Charity Law requires the Trustees lo prepare f,nancial sts'.ements for each financial year which give a true and fair view of the slate ol affairs of the Charity and ol the surplus or deficil of Ihe Charity for that period. In preparing those financial slalemenls, the Trustees are required lo'.- select suilable accounling policies and then apply them consislenily". make judgements and estimates that are reasonable and prudent". slate whether applicable accounting standards have been followed subject to any material olepartures disclosed and explained in the financial slalemep.Is,' and prepare the Iinaricial statements on the goiT)g concern basis unless it is inappropriate lo piesurne that the Chaiity will continue to operale. The Iruslees are respon51ble lor keeping proper accounling records which disclose wlh reasonable accuracy al any time the fir.ancial position of the Charity and enable them lo ensure ;ha'. the Financial Statements cotnply with the Charities Act 2011. They are 81so responsible for safeguarding the assets of the Charity and hence lakiyg reasonable steps lor the prevention and delcclion of fraud and other I￿egUlarl11e5. Reportlng Accountants A proposal that Peter Duboff be reappointed as Independent Examiner will be forwarded al the next Trustees meeting. On behalf of the Trustees Mrs A Habib Trustee Date.. Page 2 Somali Bravanese Welfare Association in Barnet Year ended 31 December 2023 Independent Examiner's Report on the Financial Statements I have examined the financial slalemenls on pages 4 to 6 which have been prepared un(Jer the historical cost convention and the accounting policies sel oul on page 6. Respective responsibilities of the trustees and examiner The Iruslees responsibililies lor preparing the annua5 report and financial slalements in accordance wilh applicable law and United Kingdom Accounting Standards are sel out in the Slalement of Trustees Resptsnsibilities on page 2. The Iruslces consider that an audit is not required for this year {UTbder section 144(21 of the Charities Act 2011 and that an In¢Jependenl examination is needed. 1115 my responsibility as examiner". lal lo examine the accounts {under section 145 of the Charities Act 20111 Ibl lo follow the procedures laid down in the General Directions given by Charity Commissioners". and Ic} to slate whether particular mallers have come to our attention Our examination was carried out in accoTd3nce with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by Ihe charity under a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Iruslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequenlly we do not express an audit opinion on the view given by Ihe accounts. Independent Examiner's Statement In connection with our examination, no maller has come to our attention which gives us reasonable cause lo believe that, in any material respect, the Iruslees have not met the requirements to ensure that.. (a) proper accounting records are kept in 8ccordance with section 386 and 387 of the Companies Act 2006., and Ib) accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Charity's Act 2011 Peter Dubo Duboff Razak Kingsbury House 468 Church Lane London NW9 8UA Date= Page 3 Somali Bravanese Welfare Association in Barnet Statement of Financial Activities for the ear ended 31 December 2023 2023 2022 Incoming resources Giants and donations received Income from events Interest received 102,467 62,471 Total incoming resources 102,467 62,472 Resources expended C05t of generating funds: School trips Room hire for annual and community events Food and refreshment for events Prizes for sludenl achievement 10.523 2.227 2.660 680 48 10.523 5.615 Adrninistrative expenditure Wages and salaries Staff training Staff recruilrncnt Freelance services Social security Vvaste collection Telephone Postage and stationary Textbooks Advertlsing. refreshments and media project supplies Refreshments Sundries Insurance Subscriptions Travel expenses Computer costs Repairs and maintenance Accountancy fee Depreciation 51.829 1,415 137 18,314 1,156 32,215 636 16,085 1.140 1.007 829 16 1.900 694 289 536 531 526 309 500 2.105 1.132 460 2.426 79,861 56.499 Net movements in funds 12,083 358 Fund balance brought forward 44.964 44,606 Funds balance carried forward 57.047 44.964 Page 4 Somali Bravanese Welfare Association in Barnet Balance Sheet At 31 December 2023 Note 2023 2022 Fixed assets Tangible assets 6.315 6,576 Current Assets Debtors Cash at Bank 52.450 40,814 52,450 40,814 Creditors.. amounts falling due wrthin one year (1.718) (2,4261 Net Current Assets 50.732 38,388 Net Assets 57,047 44,964 Funds Unreslricled Funds Restricted funds 57.047 44,964 57.047 44,964 Approved by the TnJstee5 and signed on their behalf by= Mrs A Habib Trustee Date: Page 5 Somali Bravanese Welfare Association in Barnet Notes to the Accounts At 31 December 2023 ACCOUNTING POLICIES BASIS OF ACCOUNTING These accounts have been prepared under the historical cost conventign and in accordance with applicable Accounting Slandards. In preparing the financial slalemenls the charity follows best practice as sel out in the Slalement of Recommended Practice "Accounting and Reporting by Charities" ISORP 20151 and the Chaiilies Act 2011. INCOMING RESOURCES All income Irom donalions and similar incoming resources is recognised on a receipt basis. RESOURCES EXPENDED Donations made are accounted for when awarded. All general expenditure is recognised on a cash basis. FUNDS All fund5 held by the Charity are unreslricled. They are therefore ulilised by the Trustees, in acGordance with the objecls of the Charity. Designated funds are set aside for specific purposes. DEPRECIATION Depreciation is piovided 81 the following rates in rder lo write off each asset over ils eslimaled useful life.. Office equipment Furniture 25C/g reducing balance 25,/0 reducing balance RELATED PARTY TRANSACTIONS None ol the Ifuslees or director5 were paid any expenses or remuneration by the charity during the year. Page 6