KAC Company Limited by Guarantee Company No: 3165503 Charity No: 1060915 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" March 2024
KAC Management Committee: Nazim YARAR (director) Savas KAMA (secretary) Ulas HAVUC (secretary) Accountant (internal ): Accountant (external ): Savas Kama Sayar & Co Accountancy Services Registered Office 1 Eastfield Road London N8 7AD Principal Bankers HSBC Bank 448 - 454, High Road Tottenham London N17 9JN
KAC Index to The Financial Statements For the Year Ended March 31 2024 Page Annual Report of the Management Committee Accountants Report Statement of Financial Activities Balance Sheet Notes to Financial Statements
KAC Report of the Management Committee for the year ending 31st March 2024 The Management Committee presents their report and financial statements for the year ending 31 March 2024. 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 havc a share capital. The company's objects and principal activity is to advance education, to relieve poverty and provide or assist in thc provision of facilities for recreation and leisure time occupation for thc 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 thcir conditions of life, thus ensuring community cohesion, integration and acceptance within the wider community. Development, activities and achievements The committee considers that the perforniance 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 conununities 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 deficit for the year of £ 11,887 (2023 £ 5,352) and our reserves stand at £ 39,896 (2023 £ 51,783). Tangible Fixed Assets Details of the movement are set out in note 7 to the accounts. Reserves Thc prcscnt l¢vel of funding is adequate to support the continuation of th¢ operation for the medium tenn and the committee considers the financial position of the company to be satisfactory. Management Committee and Directors The membership of The Management Committee is rcappointcd every year. The current director of K A C is Nazim YARAR. Ulas HAVUC, Savas KAMA ar¢ the secretary of K A C. Risk Management The Managcment Committee has examined the major business and opcrational risks which the charity faces and confinns that systems have been established to enable reports to be produced so that the necessary steps can be taken to lessen these risks.
K.A.C. Report of the Management Committee for the year ended 31st March 2024 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 a) select suitable accounting policies and apply them consistently b) make judgements and estimates that are rcasonable and prudent c) state whether the policies adoptcd arc in accordance with the Cotnpanies Act 1985 and with applicable accounting standards and statements of recommended practice, subject to any material dcpartures disclosed and explained in the financial statements d) prepare the financial statements on a going concern basis unless it is inappropriatc to assume that the company will continue in operation The committee is responsible for keeping proper accounting rccords 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 l and the exemption from preparing a cash flow statement under FRS Mr Nazim YARAR Director Date: 18.12.2024
K.A.C. ACCOUNTANT'S REPORT on the unaudited accounts to the trustees of K.A.C. FOR THE YEAR ENDED 31 MARCH 2024 As described on the Balance Sheet you are responsible for the preparation of the accounts for the year ended 31 March 2024 set out on pages 1 to 9 and you consider that the charity 15 exempt from an audit and reports in accordan 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 accordan with therewith. Sayar & Co Accountancy Services Unit 4, Kinetica 13 Ramsgate Street London E8 2FD Date: 18.12.2024
KAC Statement of Financial Activlties st For the Year Ended March 31 2024 Notes 2024 Restrictsd 2024 Unrestrlctsd 2024 Totsl 2023 Income and Expendlture Income Resources Grants Donations other Income Total Incomlng Resources 45.870 45.870 49,508 5,105 6.605 5,105 52,475 1,420 50,928 45,870 Resources Expended Direct Charitable Expenditure Total Expended Resources 64,2 64,2 106 106 64,362 64,362 48,223 48,223 Net Inc£)me l (Deficiency) for the Year (18,3861 6,499 111,88n 2,71 Funds at March 31st 2023 Blfv (37,223) 89.006 51,783 54,429 Funds at March 31st 2024 Clfv 95,505 39.896 57.135 The notes in pages 7 to 10 form part of these acwunts
KAC BALANCE SHEET As at March 31st 2024 Nots8 2024 2024 2024 2023 Fixed Assets Tangible Fixed Assets 487 593 Current Assets Debtors Deposit paid Cash at Bank & In Hand 3.769 7.762 33,091 44.622 4,583 7.762 42,038 54,383 Creditors Amounts falling due within 1 Year 5,213 3,193 NET CURRENT ASSETS 39,409 51.190 NET TOTAL ASSETS 39.896 51,783 Reserves Fund8 Restricted Funds Unrestricted Funds 10 10 {55,609) 95,505 (37,223) 89,006 TOTAL FUNDS 39,896 51,783 For the year ended 31. March 2024 the company was entiled to éxémption under section 477(21 of the Companies Act 2006. No members have required the company to obtain an 8udit of its accounts for the year in question in accordan with séciion 476 of the Companies Act 2006. The directors acknowledge their responsibility for. i} Ensuring the wrnpany keeps accounting records which comply with sectson 386" and ii) Preparing accxjunts 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 accordan with section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts. so far as applicsble to the company. Approved by the Management Committee and signed on its behalf by,. Nazim YARAR (director) 18 December 2024 The notes in pag8s 7 to 10 fomi part of these accounts
KAC NOTES TO THE ACCOUNTS For tbe year ended 31st Mareb 2024 I) ACCOUNTING POLICIES 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 arc rec¢ived Grants including grants for the purchase of fixed assets are recognised in full in the Statcmcnt of Financial Activities in the year in which they are received. Where grants are payable as a consequence of results that havc been earned in a pcriod they are r¢cogniz¢d as incom¢ 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 thes¢ Criteri is identified to the fund together with a fair allocation of management and support costs. Unrestricted fijnds are donations and other income received, or generated for the objects of the charity. without further specified purpose are available as general funds. Designated funds are unrestricted funds eamiarked by the trustees for particular purposes. g) Staff costs and overhead expenses are allocated to activities on the b&sis 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 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 ¢xpenditure classification. i) Depreciation has been provided on fixed asscts on the reducing balanc¢ method at 18% per annum. k) Invesknent valuation policy. The trust currently holds any sUlUS funds on deposit and consequently does not need a policy in this regard at present.
KAC Notes to the Financial Statements For the yaar ended 31st March 2024 2024 Restrictsd 2024 Unrestricted 2024 TOTAL 2023 Grnnts received Supporting People 45.870 45.870 45,870 45,870 49.508 49.508 Donations Donation5 1,500 1,500 Other Incomg Membership Other Income 290 4,815 290 4,815 315 1.105 1.420
KAC Notes to the Financial Statements For the year ended 31st March 2024 Stsff Costs and Numbers 2024 2023 Staff Costs during the year were as follows Salaries arvj Wages 30,647 30,647 25,356 25,356 Trustees Remuneration The trustees r1Ved no remuneration Fixed Assets Fixed Assets Electrical Machinery Total Cost A5 at 01 April 2023 37.526 18,631 56,157 Additions Disposals As at 31st March 2024 37,526 18,631 56,157 Depreciation As at 01 April 2023 36,933 18,631 Charge for the year 1c6 106 Disposals As at 31st March 2024 37,039 18,631 55.670 Not Book Value A8 at Mah 318t 2023 593 593 As at March 31st 2024
KAC Notes to the Financial Ststements For the year ended 31st March 2024 2024 2023 Debtorn PrepayTnents & other debtors 3.769 3,769 4,583 Credlto Unpaid wagesl PAYE I NIC Trade Cr¢dltors 1.972 3,241 3,193 5,213 3.193 10 Ststsmfrnt ot Funds Balon¢o 01 Aprtl 2023 In¢ome Ourlng Year Balaft¢* 01 Aprll 2024 Expendlture Transfe R•$tri¢tsd Fund8 Supporflng People Old is Gold Haringey CouncAI Core Funding Women's ISOL Cla Fitpik Project Newroz Clty Brfdge Twsl {57,9151 9,142 {12.337) 6.338 45.870 164,256) (76,3011 9,142 (12,3371 6,338 2.921 13,683 137,2231 2.921 13,683 155,6091 45.870 164,2561 Unr•strlcted Funds Life Skills Interest Received Membefships Venue Hire FuThJraisOng & Other Income Donations 15.316 {1061 15,210 3,821 23.063 1.106 45,696 89,006 290 4,111 23,063 5,921 47,198 95,505 4,815 1,500 6,605 I1() Total Roserv•8
915 15aWI ¥Wg 111 u01pu, spjap a5uadxa J•4 (HA>1 Iwooul anua 11 11 PP9 tio 1111111 20N 1111 SSiOlOSI%P 11 11