2020-07-31-accounts - Iraqi Welfare Association

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Trustees'	annual report
Independent examiner's report to the trustees
Statement	offinancial activities
Statement	offinancial position
Statement	ofcash flows
Notes to the financial statements

		Y	ear ended	31July	2020	2020
					2020		2019
					Unrestricted
					funds	Total funds	Total funds
				Note	8
Income and endowments
Donations and legacies Investment income				4 5	347,643 12,043	347,643 12,043	895,970 12,000
Total income					359,686	359,686	907,970
Expenditure
Expenditure on	charitable	activities		6,7	413,307	413,307	923,035
Total expenditure					413,307	413,307	923,035
Net expenditure	and net	movement	in funds		(53,621)	(53,621)	(15,065)
Reconciliation	offunds
Total funds brought forward					211,055	211,055	226,120
Total funds carried forward					157,434	157,434	211,055

Year	20
	2020	2019
Cash flows from operating activities	E	E
Net expenditure	(53,621)	(15,065)
Adjustments for:
Depreciation oftangible fixed assets Dividends, interest and rents from investments Other interest receivable and similar income Interest payable and similar charges Accrued (income)/expenses	854 (12,000) (43) 362 (2,694)	657 (12,000) 1,073 2,820
Changes in:
Trade and other creditors	(1,639)	(1,019)
Cash generated from operations	(68,781)	(23,534)
Interest paid Interest received	(362) 43	(1,073)
Net cash used in operating activities	(69,100)	(24,607)
Cash flows from investing activities
Dividends, interest and rents from investments Purchase oftangible assets	12,000 (1,315)	12,000
Net cash from investing activities	10,685	12,000
Net decrease in cash and cash equivalents Cash and cash equivalents at beginning ofyear	(58,415) 212,708	(12,607) 225,315
Cash and cash equivalents at end ofyear	154,293	212,708

have been had the impairmen Donations and legacies	t not previously been rec	ognised.
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds f	2020 6	Funds 6	2019 E
Donations
HMRC Gift Aid Donations Events &Trips Grants received	79,752 237,217 1,785 28,889	79,752 237,217 1,785 28,889	162,296 723,574 7,100 3,000	162,296 723,574 7,100 3,000
	347,643	347,643	895,970	895,970

Investment income
		Unrestdcted	Total Funds	Unrestricted	Total Funds
		Funds E	2020 6	Funds f	2019
income from investment Bank interest receivable	properties	12,000 43	12,000 43	12,000	12,000
		12,043	12,043	12,000	12,000

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
Financial Assistance Newsletter and Magazines Events and Functions	263,733 7,270 25,520		263,733 7,270 25,520
Support costs	116,784		116,784
	413,307		413,307
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2019
	6	E
Financial Assistance Newsletter and Magazines Events and Functions	772,013 4,795 28,693	7,704	772,013 4,795 36,397
Support costs	109,830		109,830
	915,331	7,704	923,035

7.	Expenditure	o	n cha	ritabl	e activ	ities	by	activity typ	activity typ	activity typ	e
								Activities
								undertaken				Support	Total funds	Total fund
									directly			costs	2020	2019
										E			E	E
	Financial Assistance Newsletter and Magazines Events and Functions Governance costs							263,733 7,270 25,520				113,335 3,450	377,067 7,270 25,520 3,450	878,645 4,795 36,397 3,198
								296,523				116,785	413,307	923,035
8.	Analysis ofsupport			costs
												Financial
											Assistance		Total 2020	Total 2019
												E	E	E
	Staff costs Premises											20,327 28,505	20,327 28,505	15,352 42,670
	Communications		and	IT								326	326	600
	General office Finance costs											5,285 362	5,285 362	9,834 1,073
	Governance	costs										3,450	3,450	3,198
	Insurance											532	532	522
	Legal &professional			fees								56,509	56,509	35,923
	Depreciation											855	855	657
	Promotion											634	634
												116,785	116,785	109,829
9.	Net expenditure
	Net expenditure		is stated after charging/(crediting):
													2020	2019
													E	E
	Depreciation	of	tangible fixed assets										854	657
10.	Independent	examination			fees
													2020	2019
													F	E
	Fees payable to		the independent			examiner		for;
	Independent	examination			ofthe financial statements								750	750
11,	Staff costs
	The total staff costs and employee					benefits		for	the	reporting		period are	analysed as	follows:
													2020	2019
													E	E
	Wages and	salaries											20,327	15,352
	The average	head count ofemployees					during the			year	was	4(2019:3).

13.	Tangible fixed asse	ts
			Fixtures and
			fittings	Equipment	Total
	Cost			F	E
	At 1 August 2019 Additions		1,173	47,378 1,315	48,551 1,315
	At 31July 2020		1,173	48,693	49,866
	Depreciation
	At 1 August 2019 Charge for the year		1,171	46,754 854	47,925 854
	At 31July 2020		1,171	47,608	48,779
	Carrying amount
	At 31July 2020		2	1,085	1,087
	At 31 July 2019		2	624	626
14.	Debtors
				2020	2019
				E	E
	Prepayments and accrued income			5,000	5,000
15.	Creditors' .amounts	falling due within one year
				2020	2019
				E'	E
	Accruals and deferred income Social security and other taxes			2,946	5,640 109
	Other creditors				1,530
				2,946	7,279

				At
				1 August 201			At
				9	Income	Expenditure	31July 2020
				E	E	E	E
	General funds			211,055	359,686	(413,307)	157,434
				At
				1 August 201			At
				8	Income	Expenditure	31 July 2019
				E		E	E
	General funds			218,416	907,970	(915,331)	211,055
17.	Analysis ofnet assets between funds
						Unrestricted	Total Funds
						Funds	2020
						E	E
	Tangible fixed assets Current assets Creditors less than 1		year			1,087 159,293 (2,946)	1,087 159,293 (2,946)
	Net assets					157,434	157,434
						Unrestricted	Total Funds
						Funds	2019
							F
	Tangible fixed assets					626	626
	Current assets Creditors less than	1	year			217,708 (7,279)	217,708 (7,279)
	Net assets					211,055	211,055
18.	Analysis ofchanges		in net debt
					At		At
					1 Aug 2019	Cash flows	31Jul 2020
					E	E	E
	Cash at bank and in hand				212,708	(58,415)	154,293