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← Medical Association Of Nigerians Across Great Britain

2024-10-31-accounts

Charity registration number 1077899 (England and Wales)

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Dr J Menakaya Mr A Alalade Dr R Ladele Dr M Fapounda Dr O I Ilozue Dr U Nnaji Dr F Adamu-Biu Mrs O Ogunremi

(Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024) (Appointed 31 October 2024)

Charity number 1077899

Independent examiner

Mitchell Charlesworth Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilites 3
Independent examiner's report 4
Statement of fnancial actvites 5
Balance sheet 6
Notes to the fnancial statements 7 - 11

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 OCTOBER 2024

The trustees present their annual report and financial statements for the year ended 31 October 2024.

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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)".

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

Significant activities and achievements against objectives

Financial review

Reserves policy

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 J Menakaya (Appointed 31 October 2024)
Mr A Alalade (Appointed 31 October 2024)
Dr R Ladele (Appointed 31 October 2024)
Dr M Fapounda (Appointed 31 October 2024)
Dr O I Ilozue (Appointed 31 October 2024)
Dr U Nnaji (Appointed 31 October 2024)
Dr F Adamu-Biu (Appointed 31 October 2024)
Mrs O Ogunremi (Appointed 31 October 2024)

Recruitment and appointment of trustees Organisational structure

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.

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2024

The trustees' report was approved by the Board of Trustees. te .............................. Dr J Menakaya trustee 29/08/2025 Date: .............................................

.............................. (Wess Dr R Ladele trustee

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 OCTOBER 2024

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:

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.

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

I report to the trustees on my examination of the financial statements of Medical Association Of Nigerians Across Great Britain (the charity) for the year ended 31 October 2024.

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.

I report in respect of my examination of the charity’s financial statements carried out under section 14 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14 ( )(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 200 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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:

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.

Mitchell Charlesworth

Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ 29/08/2025 Date: ............................

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Donatons and legacies 3 60,448 73, 03
Total income 60,448 73, 03
Expenditure on:
Raising funds 4 4 ,249 64,339
Charitable actvites 5 6,016 14,097
Total expenditure 1,26 78,436
Net income/(expenditure) and movement in funds 9,183 (4,933)
Reconciliaton of funds:
Fund balances at 1 November 2023 42,019 46,9 2
Fund balances at 31 October 2024 1,202 42,019

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

BALANCE SHEET

AS AT 31 OCTOBER 2024

2024 2023
Notes £ £ £ £
Current assets
Debtors 1 12,091
Cash at bank and in hand 53,238 38,525
~~ ~~
53,239 50,616
Creditors: amounts falling due within one
year 9 (2,037) (8,597)
Net current assets 51,202 42,019
~~_~~
Income funds
Unrestricted funds 51,202 42,019
51,202 42,019
~~:~~
The financial statements were approved by the Trustees on .........................
..............................
th		 The financial statements were approved by the Trustees on .........................
..............................
29/08/2025
(
Dr J Menakaya Dr R Ladele
Trustee Trustee

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

1 Accounting policies

Charity information

Medical Association Of Nigerians 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 Basis of preparation

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 or grantors 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.

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2024

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.

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2024

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donatons 11,451 13,181
Membership fees 48,997 60,322
4 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Trading costs
Other trading actvites 45,249 64,339
5 Expenditure on charitable actvites
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Direct costs
Share of support and governance costs (see note 6)
Support 3,427 12,027
Governance 2,589 2,070
6,016 14,097
Analysis by fund
Unrestricted funds 6,016 14,097

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2024

6 Support costs allocated to activities

Support costs allocated to actvites
Charitable donatons
Bank charges
Travel costs
Website costs
Subscriptons
Admin work costs
Accountancy fees
Analysed between:
Charitable actvites		 2024
£
1,000
445
742
1,240
-
-
2,589
6,016
6,016		 2023
£
3,694
189
4,175
1,929
9
2,031
2,070
14,097
14,097

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 taxation on its activities because all its income is applied for charitable purposes.

9 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 2,037 8,597

10 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 November Incoming Resources At 31 October
2023 resources expended 2024
£ £ £ £
General funds 42,019 60,448 (51,265) 51,202

MEDICAL ASSOCIATION OF NIGERIANS ACROSS GREAT BRITAIN

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2024

10 Unrestricted funds (Contnued)
Previous year: At 1 November Incoming Resources At 31 October
2022 resources expended 2023
£ £ £ £
General funds 46,952 73,503 (78,436) 42,019
11 Related party transactons

There were no disclosable related party transactions during the year (2023 - none).