Charity registration number 1090914
BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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 2022
The trustees present their annual report and financial statements for the year ended 31 March 2022.
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 2022
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.
The trustees' report was approved by the Board of Trustees.
Mr Carlton Joseph
Trustee
19 December 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 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.
Mark Garrett Chartered Accountant
23 Leafield Industrial Estate Leafield Way Corsham Wiltshire SN13 9RS
Dated: 13 January 2023
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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 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 3 3,621 - Charitable activities 4 38,520 101,761 Investments 5 - - Other income 6 10,317 - Total income 52,458 101,761 Expenditure on: Charitable activities 7 21,303 99,796 Net income for the year/ Net movement in funds 31,155 1,965 Fund balances at 1 April 2021 6,169 43,449 Fund balances at 31 March 2022 37,324 45,414 |
Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 3,621 1,950 - 140,281 35,651 50,189 - 28 - 10,317 8,333 - 154,219 45,962 50,189 121,099 65,824 6,740 33,120 (19,862) 43,449 49,618 26,031 - 82,738 6,169 43,449 |
Total 2021 £ 1,950 85,840 28 8,333 |
|---|---|---|
| 96,151 | ||
| 72,564 | ||
| 23,587 26,031 |
||
| 49,618 |
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 2022
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2022 £ (2) 84,464 84,462 (4,436) |
£ 2,712 80,026 82,738 45,414 37,324 82,738 |
2021 £ (2) 49,537 49,535 (3,131) |
£ 3,214 46,404 |
|---|---|---|---|---|
| 49,618 | ||||
| 43,449 6,169 |
||||
| 49,618 |
The financial statements were approved by the Trustees on 19 December 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 2022
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 amounts 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.
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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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 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 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.
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.
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
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 payments 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.
3 Donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 3,374 | 1,315 |
| Coronavirus Job Retention Scheme grants | 247 | 635 |
| 3,621 | 1,950 |
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
4 Charitable activities
| Grants | Grants | ||
|---|---|---|---|
| receivable | receivable | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Performance related grants | 35,000 | 35,000 | |
| Other income | 105,281 | 50,840 | |
| 140,281 | 85,840 | ||
| Analysis by fund | |||
| Unrestricted funds | 38,520 | 35,651 | |
| Restricted funds | 101,761 | 50,189 | |
| 140,281 | 85,840 | ||
| 5 | Investments | ||
| Total | Unrestricted | ||
| funds | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Interest receivable | - | 28 | |
| 6 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Other income | 10,317 | 8,333 |
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
7 Charitable activities
| Staff costs Depreciation and impairment Charitable expenditure heading 1 Charitable expenditure heading 2 Share of support costs (see note 8) Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds |
Big Lottery funded Core charitable expenditure 2022 2022 2022 £ £ £ 65,908 - - - - 502 29,933 3,955 4,157 - - 100 95,841 3,955 4,759 15,506 - - 1,038 - - 112,385 3,955 4,759 16,544 - 4,759 95,841 3,955 - 112,385 3,955 4,759 |
Total 2022 £ 65,908 502 38,045 100 104,555 15,506 1,038 121,099 21,303 99,796 121,099 |
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 |
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
8 Support costs
| Support costs Governance costs £ £ Staff costs - - Premises and administration expenses 1,127 - Stationery 3,547 - Communications 1,882 - Travelling 7,940 - Welfare costs 839 - Fees and subscriptions 171 - Accountancy - 1,020 Legal and professional - 18 15,506 1,038 Analysed between Charitable activities 15,506 1,038 |
2022 Support costs Governance costs £ £ £ - 1 - 1,127 1,002 - 3,547 2,029 - 1,882 2,120 - 7,940 6,607 - 839 1,230 - 171 366 - 1,020 - 900 18 - - 16,544 13,355 900 16,544 13,355 900 |
2021 £ 1 1,002 2,029 2,120 6,607 1,230 366 900 - |
|---|---|---|
| 14,255 | ||
| 14,255 |
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:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| 6 | 6 | |
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 63,948 | 44,486 |
| Other pension costs | 1,960 | 725 |
| 65,908 | 45,211 |
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 2022
| 11 Tangible fixed assets Cost At 1 April 2021 At 31 March 2022 Depreciation and impairment At 1 April 2021 Depreciation charged in the year At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 12 Debtors Amounts falling due within one year: Trade debtors 13 Loans and overdrafts Bank overdrafts Payable within one year 14 Creditors: amounts falling due within one year Notes Bank overdrafts 13 Other taxation and social security Other creditors Accruals and deferred income |
Plant and machinery £ 14,344 14,344 11,130 502 11,632 2,712 3,214 2022 2021 £ £ (2) (2) 2022 2021 £ £ 365 - 365 - 2022 2021 £ £ 365 - 2,078 1,290 793 641 1,200 1,200 4,436 3,131 |
|---|---|
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BATH ETHNIC MINORITY SENIOR CITIZENS ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
| 15 Analysis of net assets between funds Unrestricted funds Restricted funds Total Unrestricted funds Restricted funds 2022 2022 2022 2021 2021 £ £ £ £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 2,712 - 2,712 3,214 - Current assets/(liabilities) 34,612 45,414 80,026 2,955 43,449 37,324 45,414 82,738 6,169 43,449 16 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2022 £ Aggregate compensation 21,927 |
Total 2021 £ 3,214 46,404 |
|---|---|
| 49,618 | |
| 2021 £ 15,080 |
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