Registered number: 1083162
MENFA MENTORING FOR ALL
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
MENFA MENTORING FOR ALL
CHARITY INFORMATION
Trustees Gabriel Uzor Rev. Martins Mbuko Paulette Palmer Charity number 1083162 Registered office 1a Maria Street Butetown Cardiff CF10 5HG
MENFA MENTORING FOR ALL
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 |
| Statement of Income and Retained Earnings | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 - 7 |
MENFA MENTORING FOR ALL
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report and the financial statements for the year ended 31 March 2023.
MenFA is a charity registered in the UK operating in Cardiff.
The charity's objectives are the advancement of the education of adults, through young people and children, through advice and counselling and mentoring. This takes place in the local community, schools, colleges and other educational establishments. The aim is to develop individuals physical, mental and spiritual capacities in order to improve their life conditions.
Trustees
The Trustees who served during the year were:
Gabriel Uzor Rev. Martins Mbuko Paulette Palmer
Financial review
Going concern.
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Reserves
General funds within Unrestricted funds held at 31 March 2023 was £315.
This report was approved by the board and signed on its behalf.
................................................ Trustee
Date: 29/01/2024
Page 1
MENFA MENTORING FOR ALL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Note Donations & grants 4 Gross profit Charitable activities 5 Operating surplus/(deficit) Funds at the beginning of the year 10 Surplus/(deficit) for the year Funds at the end of the year 9 The statement of funds includes all gains and losses recognised in the year. The notes on pages 4 to 7 form part of these financial statements. |
Unrestricted funds 2022 £ 68,700 68,700 (72,276) (3,576) 3,891 (3,576) 315 |
Unrestricted funds 2021 £ 39,000 39,000 (37,761) 1,239 2,652 1,239 3,891 |
|---|---|---|
Page 2
MENFA MENTORING FOR ALL REGISTERED NUMBER: 1083162
BALANCE SHEET AS AT 31 MARCH 2023
| Note Current assets Debtors: amounts falling due within one year 6 Cash at bank and in hand 7 Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Net assets Funds Unrestricted funds 9 |
- 315 315 - |
2023 £ 315 315 315 315 315 |
355 5,486 5,841 (1,950) |
2022 £ 3,891 |
|---|---|---|---|---|
| 3,891 | ||||
| 3,891 | ||||
| 3,891 | ||||
| 3,891 |
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Trustee
Date: 29/01/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
MENFA MENTORING FOR ALL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
MenFA is a charity registered in the UK operating in Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet.
2.3 Expenditure
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Short-term debtors are measured at transaction price, less any impairment.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes
Page 4
MENFA MENTORING FOR ALL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.7 Creditors
Short-term creditors are measured at the transaction price.
3. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).
The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
4. Donations & Grants
| Grants Welsh Government |
2023 £ 68,700 - 68,700 |
2022 £ 14,000 25,000 |
|---|---|---|
| 39,000 |
5. Expenditure on Charitable Activities
| Volunteers Repairs & renewals Printing & stationery Utilities Telephone Bank charges Training Legal & professional General Insurance Accounting & bookkeeping Rent & Rates |
2023 £ 8,752 59,080 181 230 376 - 2,202 35 98 354 - 968 72,276 |
2022 £ 6,050 25,600 200 - - 56 2,000 980 - 425 1,950 500 |
|---|---|---|
| 37,761 |
Page 5
MENFA MENTORING FOR ALL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Prepayments and accrued income | - | 355 |
7. Cash and cash equivalents
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash at bank and in hand | 315 | 5,486 |
8. Creditors: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | - | 1,950 |
9. Statement of funds - current year
| Unrestricted funds General funds Total funds |
Balance at 1 April 2022 £ 3,891 3,891 |
Income £ 68,700 68,700 |
Expenditure £ 72,276 72,276 |
Balance at 31 March 2023 £ 315 |
|---|---|---|---|---|
| 315 |
General funds represents the balance of MenFA funds to be utilised within the charity's objectives.
Page 6
MENFA MENTORING FOR ALL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
10. Statement of funds - previous year
| Unrestricted funds General funds Welsh Government Total funds |
Balance at 1 April 2021 £ 2,652 - 2,652 |
Income £ 14,000 25,000 39,000 |
Expenditure £ (12,761) (25,000) (37,761) |
Balance at 31 March 2022 £ 3,891 - |
|---|---|---|---|---|
| 3,891 |
General funds represents the balance of MenFA funds to be utilised within the charity's objectives.
The Welsh Government grant of £25,000 was received in March 2022 and was allocated towards the Phase 1 work on the building & roof repair.
Page 7