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2021-03-31-accounts

K A C

Company Limited by Guarantee Company No: 3165503 Charity No: 1060915

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] March 2021

K A C

Management Committee:

Ismet ARSLAN Harun ALTUNTOP Mustafa TASKAN

Accountant (internal ): Savas Kama Accountant (external ): Sayar & Co Accountancy Services

Registered Office

1 Eastfield Road London N8 7AD

Principal Bankers

HSBC Bank 448 - 454, High Road Tottenham London N17 9JN

K A C

K A C
Index to The Financial Statements
For the Year Ended
March 31st 2021
Page
Annual Report of the Management 1 - 2
Committee
Accountants Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to Financial Statements 6 - 9

KAC

Report of the Management Committee for the year ending 31st March 2021

The Management Committee presents their report and financial statements for the year ending 31 March 2021. The committee has adopted the provisions of the Statement of the Recommended Practice (SORP) and Reporting by Charities issued in October 2000 in preparing the report and financial statements.

Objects and principal activity

The company is limited by guarantee and does not have a share capital.

The company’s objects and principal activity is to advance education, to relieve poverty and provide or assist in the provision of facilities for recreation and leisure time occupation for the diverse communities of the UK and for Kurdish people who by reason of their social and economic circumstances need such facilities with the object of improving their conditions of life, thus ensuring community cohesion, integration and acceptance within the wider community.

Development, activities and achievements

The committee considers that the performance of the company this year has been satisfactory.

Future Development

The company continues to seek funding in order to maintain/develop its services to the wider community. KAC embraces the different cultures and needs of the communities in which we operate and actively promotes an equal opportunities policy ensuring all members of society are afforded the help they require in order to obtain/maintain economic and social well-being.

Transactions and financial position

The Statement of Financial Activities shows a surplus for the year of £ 44,445 (2020 £ 3,778) and our reserves stand at £ 54,429 (2020 £ 9,984).

Tangible Fixed Assets

Details of the movement are set out in note 7 to the accounts.

Reserves

The present level of funding is adequate to support the continuation of the operation for the medium term and the committee consider the financial position of the company to be satisfactory.

Management Committee and Directors

The membership of The Management Committee is reappointed every year. The current directors of KAC are Mr Ismet Arslan, Mr Harun Altuntop and Mr Mustafa Taskan.

Risk Management

The Management Committee has examined the major business and operational risks which the charity faces and confirms that systems have been established to enable reports to be produced so that the necessary steps can be taken to lessen these risks.

1

K.A.C.

Report of the Management Committee for the year ended 31st March 2021

Management Committee Responsibilities

The Management Committee is required by law to prepare financial statements for each financial year which give a true and fare view of the financial activities of the company and of its financial position at the end of that year. In preparing those financial statements the committee of management is required to

The committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. It is also responsible for the safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

The report was approved by the Management Committee and signed on its behalf. The Committee has taken advantage of exemptions available to small companies under Schedule 8 part 1 and the exemption from preparing a cash flow statement under FRS

Mr Ismet Arslan Director Date: 23.12.2021

2

K.A.C.

ACCOUNTANT’S REPORT on the unaudited accounts to the trustees of K.A.C.

FOR THE YEAR ENDED 31 MARCH 2021

As described on the Balance Sheet you are responsible for the preparation of the accounts for the year ended 31 March 2021 set out on pages 1 to 9 and you consider that the charity is exempt from an audit and reports in accordance with the Companies Act 2006.

In accordance with instruction given to us, we have compiled these unaudited accounts in order to assist you to fulfill your statuary responsibilities, from accounting records and information and explanations supplied to us, we report that they are in accordance with therewith.

Sayar & Co Accountancy Services Unit 4, Kinetica 13 Ramsgate Street London E8 2FD

Date: 23.12.2021

3

K A C

Statement of Financial Activities

For the Year Ended March 31[st] 2021

Notes
2021
Restricted
£
Income and Expenditure
Income Resources
Grants
2
76,891
Donations
3
-
Other Income
4
-
Total Incoming Resources
76,891
Resources Expended
Direct Charitable Expenditure
32,733
Total Expended Resources
32,733
Net Income / (Deficiency) for the Year
44,158
Funds at March 31st 2020 B/fwd
(103,688)
Funds at March 31st 2021 C/fwd
(59,530)		 2021
Unrestricted
£
-
-
480
480
193
193
287
113,672
113,959		 2021
Total
£
76,891
-
480
77,371
32,926
32,926
44,445
9,984
54,429		 2020
£
60,980
4,270
480
65,730
61,952
61,952
3,778
6,206
9,984

The notes in pages 7 to 10 form part of these accounts

4

K A C

BALANCE SHEET

As at March 31st 2021

Notes
2021
Fixed Assets
Tangible Fixed Assets
7
Current Assets
Debtors
8
1,382
Deposit paid
7,762
Cash at Bank & In Hand
49,448
58,592
Creditors
Amounts falling due within 1 Year
9
5,044
NET CURRENT ASSETS
NET TOTAL ASSETS
Reserves Funds
Restricted Funds
10
Unrestricted Funds
10
TOTAL FUNDS		 2021
881
53,548
54,429
(31,215)
85,644
54,429		 2020
1,353
7,762
4,715
13,830
4,920		 2020
£
1,074
8,910
9,984
(75,373)
85,357
9,984

For the year ended 31[st ] March 2021 the company was entitled to exemption under section 477(2) of the Companies Act 2006.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for:

i) Ensuring the company keeps accounting records which comply with section 386; and

ii) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its profit and loss for the financial year in accordance with section 393, and

which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.

Approved by the Management Committee and signed on its behalf by;

Ismet ARSLAN Director Date 23 December 2021

The notes in pages 7 to 10 form part of these accounts

5

KAC NOTES TO THE ACCOUNTS For the year ended 31st March 2021

1) ACCOUNTING POLICIES

a) The Financial Statements have been prepared accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice: Accounting by Charities (SORP) issue October 1995

b) Voluntary income received by way of donations and gifts is included in full in the Statement of Financial Activities in the year in which they are received

c) Grants including grants for the purchase of fixed assets are recognised in full in the Statement of Financial Activities in the year in which they are received. Where grants are payable as a consequence of results that have been earned in a period they are recognized as income of the period even if received in a later period.

d) Restricted funds are to be used for the specified purposes laid down by the donor. Expenditure, which meets these criteria, is identified to the fund together with a fair allocation of management and support costs.

e) Unrestricted funds are donations and other income received, or generated for the objects of the charity, without further specified purpose are available as general funds.

f) Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

g) Staff costs and overhead expenses are allocated to activities on the basis agreed with the fund providers or on a basis of time or space where appropriate

h) Fundraising and publicity costs comprise the costs actually incurred in producing materials for promotional purposes

i) Management and administration costs of the charity relate to the costs of running the charity such as the costs of meetings, accountancy and statutory compliance, and includes the costs which cannot be specifically identified to another expenditure classification.

j) Depreciation has been provided on fixed assets on the reducing balance method at 18% per annum.

k) Investment valuation policy. The trust currently holds any surplus funds on deposit and consequently does not need a policy in this regard at present.

6

K A C

Notes to the Financial Statements For the year ended 31st March 2021

2
Grants received
Supporting People
3
Donations
Donations
4
Other Income
Membership		 2021
Restricted
£
76,891
76,891
-
-
-
-		 2021
Unrestricted
£
-
-
-
-
480
480		 2021
TOTAL
£
76,891
76,891
-
-
480
480		 2020
£
60,980
60,980
4,270
4,270
480
480

7

K A C

Notes to the Financial Statements
For the year ended 31st March 2021
5
Staff Costs and Numbers
Staff Costs during the year were as follows
Salaries and Wages
6
Trustees Remuneration
The trustees received no remuneration
7
Fixed Assets
Cost
As at 01 April 2020
Additions
Disposals
As at 31st March 2021
Depreciation
As at 01 April 2020
Charge for the year
Disposals
As at 31st March 2021
Net Book Value
As at March 31st 2020
As at March 31st 2021
8		 Fixed
Assets
£
37,526
-
-
37,526
36,452
193
-
36,645
1,074
881		 2021
£
18,835
18,835
Electrical
Machinery
£
18,631
-
18,631
18,631
-
-
18,631
-
-		 2020
£
37,009
37,009
Total
£
56,157
-
-
56,157
55,083
193
-
55,276
1,074
881

K A C

Notes to the Financial Statements For the year ended 31st March 2021

8
Debtors
Prepayments & other debtors
9
Creditors
Unpaid wages/ PAYE / NIC
Overdraft
Trade Creditors		 2021
£
1,382
1,382
543
-
4,501
5,044		 2020
£
1,353
1,353
169
-
4,751
4,920

10 Statement of Funds

Balance
01 April 2020
£
Restricted Funds
Supporting People
(96,065)
Old is Gold
9,142
Haringey Council Core Funding
(12,337)
Women's ISOL Class
6,338
Fitpik Project
945
Newroz
2,921
City Bridge Trust
13,683
(75,373)
Unrestricted Funds
Life Skills
15,797
Interest Received
4
Memberships
2,726
Venue Hire
23,063
Fundraising & Other Income
1
Donations
43,766
85,357
Total Reserves
9,984		 Income
During Year
£
76,891
-
-
-
-
-
-
76,891
-
-
480
-
-
-
480
77,371		 Expenditure
£
(32,733)
-
-
-
-
-
-
(32,733)
(193)
-
-
-
-
-
(193)
(32,926)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance
01 April 2021
£
(51,907)
9,142
(12,337)
6,338
945
2,921
13,683
(31,215)
15,604
4
3,206
23,063
1
43,766
85,644
54,429

9

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Income & Expenditure
For the year ended
31 March 2021
INCOMING RESOURCES
Haringey Council (HC) 1010 56,118.38 56,118.38 - - - 56,118.38
British Trust For London 1011 - - - - -
Lloyds TSB Foundation 1130 - - - - -
The London Comm. Grant 1140 10,000.00 10,000.00 10,000.00
Community Chest (CC) 1060 - - - -
Donations (DON) 1090 - - - - - -
Membership (MEM) 2010 - - 480.00 480.00 480.00
Venue Hire (VH) 2020 - - - -
Interest Received (IR) 2040 - - - - -
JRS grants HMRC 10,772.92 - 10,772.92 - 10,772.92
Other Income (OI) 2050 - - - - - - - -
Peabody Trust (PT) 1070 - - - -
ACBBA (Natalie Telford) - 1120 - - - - -
TOTAL INCOMING RESOURCES 76,891.30 - - - - - - 76,891.30 - 480.00 - - - - - - 480.00 77,371.30
RESOURCES EXPENDED -
1001 Staff Salaries 18,835.32 18,835.32 - 18,835.32
1002 Employer NIC - - - -
1003 Training & Development - - - -
1004 Seminars & Conferances - - - - -
1005 Staff Expenses - - - -
1006 Volunteer Expenses - - - - - -
1007 Advertising - - - -
1008 Translat. & Interpretation - - -
1009 Publicity - - -
2002 IT Expenses - - - - -
2003 Insurance 1,774.62 1,774.62 - 1,774.62
2004 Professional Fees - - - -
2005 Accountancy 1,500.00 1,500.00 - 1,500.00
2007 Consultancy Fees - - -
2008 Cleaning & Refuse 558.84 558.84 - - 558.84
2009 Repairs - - - -
2010 Estate Service Charge - - - -
2012 Beneficiary Expenses - - -
2060 Management Expenditure - - - -
3001 Bank Charges & Interest 549.59 549.59 - 549.59
3002 Rent 2,954.91 2,954.91 - 2,954.91
3003 Utilities (Light & Heat) 564.54 564.54 - - 564.54
3004 Security 333.74 333.74 - 333.74
3005 Telephone & Internet 1,429.64 1,429.64 - 1,429.64
3006 Computer Software - - -
3007 Postage and Delivery - - - - -
3008 Copying and Printing - - - -
3009 Stationery - - - - - -
3010 Water 97.56 97.56 - 97.56
3011 Licence Fee 157.50 157.50 - 157.50
3012 Major Repair works 1,200.00 1,200.00
3013 Travel - - - - - -
3014 Pest Control - - - -
4001 Subscript. & Members.Fee - - - -
4002 Activity Expenses - - - - - - -
4005 Rates 2,777.00 2,777.00 - - 2,777.00
9006 Donation - - - -
Depreciation - - - 193.14 193.14 193.14
Assets Disposal Loss - - -
TOTAL OPERATING COSTS 32,733.26 - - - - - - 32,733.26 - - - - - - - 193.14 193.14 32,926.40
NET SURPLUS (DEFICIT) 44,158.04 - - - - - - 44,158.04 - 480.00 - - - - - (193.14) 286.86 44,444.90
Balance From Last Year (96,066.65) (12,337.10) 13,683.00 945.20 6,337.83 2,921.47 9,142.26 (75,373.99) 43,766.64 2,726.00 23,063.35 1.00 - - 4.00 15,797.28 85,358.27 9,984.28
Transfers - - - - - - - - - - - - - - -
Blance C/F (51,908.61) (12,337.10) 13,683.00 945.20 6,337.83 2,921.47 9,142.26 (31,215.95) 43,766.64 3,206.00 23,063.35 1.00 - - 4.00 15,604.14 85,645.13 54,429.18
Supporting People Core Funding City Bridge Trust Fitpik Project Women's ISOL Class Newroz Old is Gold SUBTOTAL Donations Membership Venue (Room) Hire (VH) Other Income Governance Expense Community Activities Friend's "Donations" Bank Interest Life Skills SUBTOTAL TOTAL
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