Our Ref: SMU/KCA/M11572
The Trustess Medical Association of Nigerians Across Great Britain Kemp House 152-160 City Road London EC1V 2NX
5 October 2023
Dear Trustees
Please find enclosed the unaudited Financial Statements for the Charity for the year ended 31[st] October 2022.
The Accounts have been prepared from your books and records and from information and explanations supplied to us.
The Statement of Financial Activities is set out on Page 4 and shows that the income for the year was £33,418, compared with £13,051 for the previous year.
Total expenditure was £37,531 and these expenses are broken down in Notes 4 to 6.
After deducting expenses from the income, there is a deficit of £4,113, compared with a surplus of £6,081 last year.
This deficit reduces the cumulative funds of the Charity at the year end to £46,952, as shown on the Balance Sheet on Page 5.
Also included on the Balance Sheet are the Charity’s bank balances, together with accruals for our fees and the October 2022 conference expenses.
There are no other matters which I would draw your attention to regarding the Financial Statements, although if you have any queries please do not hesitate to contact me.
It remains for the Accounts to be formally approved the Trustees. Once they have been discussed and reviewed in detail, I should be grateful if you would arrange for them to be approved by signing and dating the Trustees Annual Report on Page 2, the Balance Sheet on Page 6 and the Letter of Representation on Page 3.
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Should you have any queries regarding any of the above please do not hesitate to contact me.
Please note that the Accounts and the Charities Annual Return are both overdue for submission to the Charity Commission. You will need to ensure that the outstanding Annual Return is completed at the same time as these Accounts are uploaded to the Charity Commission, once they have been approved.
Finally, please find enclosed a note of our charges in connection with the preparation of the Accounts for your kind attention in due course.
Kind Regards.
Yours sincerely
Sean
S. Murphy
1,840.00 MANSAG 2 Capital Office Ltd Kemp House 152-160 City Road London EC1V 2NX
Invoice No.: 161330 Ref: M11572/SMU
Date: 05 October 2023
VAT Reg No. 409 4981 68
To Professional Services Rendered
Preparation of unaudited Charity Accounts for the year ended 31st October 2022 for approval by the Trustees and submission to the Charity Commission, including compilation of Independent Examiners Report to the Trustees.
1,450.00
Fee VAT @ 20%
1,450.00 290.00
£1,740.00
Charity registration number 1077899
MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Dr C Agbo |
|---|---|
| Dr M N Nosa-Ehima | |
| Dr A J Jaiyesimi | |
| Dr D A Apakama | |
| Dr K E Enohumah | |
| Dr O I Ilozue | |
| Dr A O Odeleye | |
| Mr C O Okuonghae | |
| Charity number | 1077899 |
| Registered ofce | Capital Ofce Ltd |
| Kemp House | |
| 152-160 City Road | |
| London | |
| Independent examiner | Whitnalls |
| Trident House | |
| 105 Derby Road | |
| Liverpool | |
| L20 8LZ |
MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Statement of trustees' responsibilites | 2 |
| Independent examiner's report | 3 |
| Statement of fnancial actvites | 4 |
| Balance sheet | 5 |
| Notes to the fnancial statements | 6 - 9 |
MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2022
The trustees present their annual report and financial statements for the year ended 31 October 2022.
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 [governing document], the Charities Act 2011 and "Accounting 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).
Objectives and activities
The Objectives of the charity are to promote the benefit of the public and in particular not exclusively, Nigerian people living in the British Isles by associating together such people and the local authorities and other organisations in a common effort to relieve poverty and sickness, and to advance education and to provide facilities for recreation and leisure time occupation with the objectives of improving the conditions of lives of the said people.
Achievements and performance
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The charity does not have share capital and is an unincorporated associations registered with the Charity Commission on the 22 October 1999. The liability of the trustees is unlimited in the event of winding up.
The trustees who served during the year and up to the date of signature of the financial statements were: Dr C Agbo
Dr M N Nosa-Ehima Dr A J Jaiyesimi Dr D A Apakama Dr K E Enohumah Dr O I Ilozue Dr A O Odeleye Mr C O Okuonghae
The executive committee who are also the trustees approve the policy for the organisations. The executive Committee meet regularly to review its policies and organise biannual conferences. The day to day financial management of the charity is delegated to the Treasurer and Financial Secretary.
The trustees' report was approved by the Board of Trustees.
..............................
trustee
19/10/2023 Date: .............................................
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 OCTOBER 2022
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
I report to the trustees on my examination of the financial statements of Medical Association Of Nigerian Across Great Britain (the charity) for the year ended 31 October 2022.
Responsibilities and basis of report
As the trustees of the 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 charity’s 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 examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 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 concerns 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.
Whitnalls
Trident House 105 Derby Road Liverpool L20 8LZ
16/10/23 Dated: .........................
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donatons and legacies | 3 | 33,418 | 13,051 |
| Expenditure on: | |||
| Raising funds | 4 | 26,631 | 2,257 |
| Charitable actvites | 5 | 10,900 | 4,713 |
| Total expenditure | 37,531 | 6,970 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (4,113) | 6,081 | |
| Fund balances at 1 November 2021 | 51,065 | 44,984 | |
| Fund balances at 31 October 2022 | 46,952 | 51,065 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
BALANCE SHEET
AS AT 31 OCTOBER 2022
| 2022 Notes £ Current assets Cash at bank and in hand 51,669 Creditors: amounts falling due within one year 9 (4,717) Net current assets Income funds Unrestricted funds The fnancial statements were approved by the Trustees on ......................... .............................. 19/10/2023 |
£ 46,952 46,952 46,952 |
2021 £ 55,453 (4,388) |
£ 51,065 |
|---|---|---|---|
| 51,065 | |||
| 51,065 | |||
Trustee
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1 Accounting policies
Charity information
Medical Association Of Nigerian Across Great Britain is an unincorporated association registered with the Charity Commission on 22 October 1999. The registered address is Capital Office Ltd, Kemp House, 152-160 City Road, London, EC1B 2NX
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting 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 not to prepare a Statement 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 £.
1.2 Going concern
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 concern 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
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 once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Financial assets classified as other financial assets are stated at fair value with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss includes any dividend or interest earned on the financial asset.
Basic financial liabilities
Financial liabilities classified as other financial liabilities are stated at fair value with any gains or losses arising on remeasurement recognised in profit or loss.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
| 3 4 5 |
Donatons and legacies Unrestricted Unrestricted funds funds 2022 2021 £ £ Donatons 3,902 - Membership fees 29,516 13,051 Raising funds Unrestricted Unrestricted funds funds 2022 2021 £ £ Trading costs Other trading actvites 26,631 2,257 26,631 2,257 Charitable actvites Charitable Expenditure Charitable Expenditure 2022 2021 £ £ Share of support costs (see note 6) 9,286 3,113 Share of governance costs (see note 6) 1,614 1,600 10,900 4,713 |
Donatons and legacies Unrestricted Unrestricted funds funds 2022 2021 £ £ Donatons 3,902 - Membership fees 29,516 13,051 Raising funds Unrestricted Unrestricted funds funds 2022 2021 £ £ Trading costs Other trading actvites 26,631 2,257 26,631 2,257 Charitable actvites Charitable Expenditure Charitable Expenditure 2022 2021 £ £ Share of support costs (see note 6) 9,286 3,113 Share of governance costs (see note 6) 1,614 1,600 10,900 4,713 |
Donatons and legacies Unrestricted Unrestricted funds funds 2022 2021 £ £ Donatons 3,902 - Membership fees 29,516 13,051 Raising funds Unrestricted Unrestricted funds funds 2022 2021 £ £ Trading costs Other trading actvites 26,631 2,257 26,631 2,257 Charitable actvites Charitable Expenditure Charitable Expenditure 2022 2021 £ £ Share of support costs (see note 6) 9,286 3,113 Share of governance costs (see note 6) 1,614 1,600 10,900 4,713 |
|---|---|---|---|
| 2022 £ 9,286 1,614 10,900 |
2021 £ 3,113 1,600 |
||
| 4,713 |
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MEDICAL ASSOCIATION OF NIGERIAN ACROSS GREAT BRITAIN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
6 Support costs
| Support costs Governance costs £ £ Charitable donatons 916 - Bank charges 125 - Sundry expenses - - Travel costs 5,471 - Website costs 1,641 - Marketng 250 - Subscriptons 883 - Accountancy - 1,614 Legal and professional - - 9,286 1,614 Analysed between Charitable actvites 9,286 1,614 |
2022 Support costs Governance costs £ £ £ 916 216 - 125 96 - - 2,801 - 5,471 - - 1,641 - - 250 - - 883 - - 1,614 - 1,500 - - 100 10,900 3,113 1,600 10,900 3,113 1,600 |
2021 £ 216 96 2,801 - - - - 1,500 100 |
|---|---|---|
| 4,713 | ||
| 4,713 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 4,717 | 4,388 |
10 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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The Trustees Medical Association of Nigerians Across Great Britain Kemp House 152-160 City Road London EC1V 2NX
Date
Whitnalls Trident House 105 Derby Road Liverpool L20 8LX
Dear Sirs,
Accounts for the year ended 31 October 2022
We confirm, to the best of our knowledge and belief and having made appropriate enquiries of other trustees and officials of the charity, the following representations which are given to you in connection with the preparation of the financial statements, without audit, for the year ended 31 October 2022.
GENERAL CONFIRMATION
We acknowledge as trustees our responsibility for making accurate representations to you and for the financial statements which you have prepared on our behalf for the charity. All the accounting records have been made available to you for the purpose of the preparation of the financial statements and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all trustee and members meetings, have been made available to you.
ASSETS
All assets included in the net assets statement were at that date in existence and owned by the charity, free from any lien, encumbrance or charge, except as disclosed in the financial statements and/or as referred to below.
LIABILITIES
We confirm that, at the balance sheet date, the charity has no liabilities or provisions other than those recognised and no contingent liabilities other than those disclosed in the financial statements.
We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
RESULTS
Except as disclosed in the financial statements, the results for the year ended 31 October 2022 were not materially affected by transactions of a sort not usually undertaken by the charity, circumstances of an exceptional or non-recurring nature, or charges or credits relating to prior years.
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RELATED PARTY TRANSACTIONS
There are no related party transactions which require to be disclosed within the financial statements.
EVENTS SINCE THE BALANCE SHEET DATE
There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
LAWS AND REGULATIONS
We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business, namely the Charities Act 2011, except as explained to you as disclosed in the financial statements.
We have drawn to your attention all correspondence and notes of meetings with regulators.
OTHER MATTERS
We confirm the following matters:-
a) That all grants, donations and other income, including those subject to special terms and conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
b) That there are no reasons why the tax status of the charity may be jeopardised.
c) That there are no matters of material significance which should be reported to the Charity Commission.
d) That there are no further specific representations which need to be made to you.
GOING CONCERN
We confirm that, in our opinion, the charity's financial statements should be prepared on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs.
PUBLICATION OF FINANCIAL STATEMENTS
We undertake not to make these financial statements available for general publication without prior consultation with you as we understand that publication in certain areas will necessitate an amendment to the wording of the Independent Accountants' report.