Charity Registration No. 1090914
BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr Carlton Joseph |
|---|---|
| Mrs Verona Hunter | |
| Mrs Eulene Hoyte | |
| Mrs Norma Sobers | |
| Mrs Zarin Sakaria | |
| Mrs Idalia Sobers | |
| Mrs Murtella Spalding | |
| Mrs E Greaves | |
| Charity number | 1090914 |
| Principal address | Fairfield House |
| 2 Kelston Road | |
| Bath | |
| BA1 3QJ | |
| Independent examiner | Mark Garrett Chartered Accountant |
| 23 Leafield Industrial Estate | |
| Leafield Way | |
| Corsham | |
| Wiltshire | |
| SN13 9RS | |
| Bankers | Unity Trust Bank |
| Nine Brindleyplace | |
| 4 Oozells Square | |
| Birmingham | |
| B1 2HB |
BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their annual report and financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution , 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)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The objects are as follows:-
a) the relief of elderely people in particular from ethnic minority groups within the Bath and North East Somerset area by advancing education and providing facililites in the interests of social welfare for recreation and leisure time occupation with the objects of improving the conditions of life for these groups.
b) the advancement of education, protection of health and the relief of poverty, sickness and distress of elderly people within the Bath and North East Somerset area.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The achievements of the charity have been realised through the outreach work carried out by our members of staff and the training received by our Committee of Management, for which we are hoping to obtain additional funding to enable us to continue to deliver this valuable service to the Community.
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 considers 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 not maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity was established by a charitable trust deed on 8 February 2002.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr Carlton Joseph
Mrs Verona Hunter Mrs Eulene Hoyte Mrs Norma Sobers Mrs Zarin Sakaria Mrs Idalia Sobers Mrs Murtella Spalding Mrs E Greaves
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
At the first Executive Meeting following an Annual General Meeting hereinafter mentioned, the Executive Committee shall elect a Chair, Vice Chair, Treasurer and such officers as the Charity shall from time to time decide.
The Chair and the Honorary Officers of the Charity shall hold office until the conclusion of the AGM of the Charity next after their election but shall be eligible for re-election provided that no officer shall hold office for more than three consecutive years. On the expiration of such period, at least one year must elapse before any former Officers shall be eligible for re-election.
The charity is managed on a day to day basis by an administrator, supported by support staff and volunteers. The administrator reports to the board of trustees.
Supplier payment policy
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
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settle the terms of payment with suppliers when agreeing the terms of each transaction;
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ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
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pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.
The trustees' r eport was approved by the Board of Trustees.
Mr Carlton Joseph Trustee
13 January 2022
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
I report to the trustees on my examination of the financial statements of Bath Ethnic Minority Senior Citizens Association (the charity) for the year ended 31 March 2021.
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.
Mark Garrett Chartered Accountant
23 Leafield Industrial Estate Leafield Way Corsham Wiltshire SN13 9RS
Dated: 13 January 2022
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Donations and legacies 3 1,950 - Charitable activities 4 35,651 50,189 Investments 5 28 - Other income 6 8,333 - Total income 45,962 50,189 Expenditure on: Charitable activities 7 65,824 6,740 Gross transfers between funds - - Net (expenditure)/income for the year/ Net movement in funds (19,862) 43,449 Fund balances at 1 April 2020 26,031 - Fund balances at 31 March 2021 6,169 43,449 |
Total Unrestricted Restricted funds funds 2021 2020 2020 £ £ £ 1,950 1,363 - 85,840 35,000 - 28 - - 8,333 14,548 - 96,151 50,911 - 72,564 48,108 7,938 - (4,255) 4,255 23,587 (1,452) (3,683) 26,031 27,483 3,683 49,618 26,031 - |
Total 2020 £ 1,363 35,000 - 14,548 50,911 56,046 - (5,135) 31,166 26,031 |
|---|---|---|
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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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2021 £ (2) 49,537 49,535 (3,131) |
£ 3,214 46,404 49,618 43,449 6,169 49,618 |
2020 £ - 25,960 25,960 (2,247) |
£ 2,318 23,713 26,031 - 26,031 26,031 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 13 January 2022
Mr Carlton Joseph Trustee
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Bath Ethnic Minority Senior Citizens Association is a charity run as an association without limited liability.
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 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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.
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
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.
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 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
Enter depreciation rate via StatDB - cd76
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 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.
1.9 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.
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
- The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 1,315 | 1,363 |
| ENTER LINE DESCRIPTION VIA DATABASE | 635 | - |
| 1,950 | 1,363 | |
| Charitable activities | ||
| Grants | Grants |
|
| receivable | receivable |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Performance related grants | 35,000 | 35,000 |
| Other income | 50,840 | - |
| 85,840 | 35,000 |
|
| Analysis by fund | ||
| Unrestricted funds | 35,651 | 35,000 |
| Restricted funds | 50,189 | - |
| 85,840 | 35,000 |
|
| Investments | ||
| Unrestricted | Total | |
| funds | ||
| 2021 | 2020 | |
| £ | £ | |
| Interest receivable | 28 | - |
4 Charitable activities
5 Investments
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
6 Other income
| Other income Charitable activities Staff costs Depreciation and impairment Charitable expenditure heading 1 Share of support costs (see note 8) Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds |
Core charitable expenditure 2021 2021 £ £ - 45,210 - 602 6,741 5,756 6,741 51,568 - 13,355 - 900 6,741 65,823 1 65,823 6,740 - 6,741 65,823 |
Total 2021 £ 45,210 602 12,497 58,309 13,355 900 72,564 65,824 6,740 72,564 |
UnrestrictedUnrestricted funds funds 2021 2020 £ £ 8,333 14,548 Core charitable expenditure Total 2020 2020 2020 £ £ £ 7,035 32,554 39,589 - 462 462 902 2,329 3,231 7,937 35,345 43,282 - 11,264 11,264 - 1,500 1,500 7,937 48,109 56,046 (1) 48,109 48,108 7,938 - 7,938 7,937 48,109 56,046 |
|---|---|---|---|
7 Charitable activities
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
8 Support costs
| Support costs Governance costs £ £ Staff costs 1 - Premises and administration expenses 1,002 - Support costs heading 3 2,029 - Support costs heading 4 2,120 - Support costs heading 5 6,607 - Support costs heading 7 1,230 - Support costs heading 8 366 - Accountancy - 900 13,355 900 Analysed between Charitable activities 13,355 900 |
2021 Support costs Governance costs £ £ £ 1 - - 1,002 1,070 - 2,029 3,192 - 2,120 1,879 - 6,607 4,408 - 1,230 568 - 366 147 - 900 - 1,500 14,255 11,264 1,500 14,255 11,264 1,500 |
2020 £ - 1,070 3,192 1,879 4,408 568 147 1,500 12,764 12,764 |
|---|---|---|
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| - | 6 | |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 44,486 | 38,934 |
| Other pension costs | 725 | 655 |
| 45,211 | 39,589 |
There were no employees whose annual remuneration was more than £60,000.
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and machinery | |
| £ | |
| Cost | |
| At 1 April 2020 | 12,846 |
| Additions | 1,498 |
| At 31 March 2021 | 14,344 |
| Depreciation and impairment | |
| At 1 April 2020 | 10,528 |
| Depreciation charged in the year | 602 |
| At 31 March 2021 | 11,130 |
| Carrying amount | |
| At 31 March 2021 | 3,214 |
| At 31 March 2020 | 2,318 |
Investment properties rented to another group entity have been accounted for using the cost model. The carrying value of these investment properties included within tangible fixed assets is £XXXX (2020 - £XXXX).
12 Debtors
| Amounts falling due within one year: Trade debtors 13 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
2021 £ (2) 2021 £ 1,290 641 1,200 3,131 |
2020 £ - 2020 £ 957 90 1,200 2,247 |
|---|---|---|
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 14 Analysis of net assets between funds Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 3,214 - Current assets/ (liabilities) 2,955 43,449 6,169 43,449 |
TotalUnrestricted funds Restricted funds 2021 2020 2020 £ £ £ 3,214 2,318 - 46,404 23,713 - 49,618 26,031 - |
Total 2020 £ 2,318 23,713 26,031 |
|---|---|---|
15 Related party transactions
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