BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP Trustees 'Reyort ana :financia( Stateme.nts for tfie. year eru£e.r£ 31 :M.arcfi, 2024
Company Registration Number: 04180668 (England and Wales) Charity Number: 1091127
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 3 |
| Trustees Report | 4-9 |
| Independent Examiners Report on the Financial Statements | 10- 11 |
| Statement of Financial Activities | 12 - 16 |
| Notes to the Financial Statements | 17 - 24 |
2
BLACK AND MINORITY ETHNIC COMMUNTIY PARTNERSHIP
REFERENCE AND ADMIN STRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees Ms. Esther Ekpo (Retired 10/11/2023) Mr. Nason Bimbe Mr. Sunny Choudhury (Elected 10/11/2023) Mr. Cesar Da Luz (Appointed 20/11/2023) Mr. Ogbonnia Oka-Joseph (Elected 10/11/2023) Mr. Almami Balde (Appointed 20/11/2023) Ms. Hari Chhokar (Appointed 20/11/2023) Mr. Patrick Chilufya Mr. Adeola Ojeniyi Mr. Chandrakant Mehta Mr. Winnie Apollo-Schubert (Elected 10/11/2023) Mr. Paul St. John Misso (Elected 10/11/2023) Mr. Denis Njouwouo (Appointed 20/11/2023)
Principal Office: BMECP Centre 10a F1eet Street Brighton East Sussex BNl 4ZE
Accountants: Fabek Associates & Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR
Bankers: Natwest Bank Brighton Town Centre Branch Unit 40 56 Churchill Square Brighton BNl 2ES
Company Registration Number: 04180668 (England and Wales) Charity-Number: 1091127
3
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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
Objectives and aims.
As a not-for-profit organisation, the BMECP does not have shareholders to answer to, & the BMECP operations are not funded by the Social Investment Business (SIB) and Brighton and Hove City Council. However, the BMECP is answerable, and the Trustees are accountable to its membership. As per the Memorandum of Association, the object of BMECP is to promote any charitable purpose for the benefit of the public in Brighton and Hove and the surrounding area for the benefit of Black and minority ethnic individuals and their families.
When rooms are booked or offices are hired at the BMECP centre, the monies are reinvested back into the centre to pay for operational costs and the general running of the centre. We are pleased to mention that as of 30 October 2023 BMECP is no longer indebted to SIB.
Aims
Our overall aim is to continue to raise enough revenue through its own business activities; grants and project funding to make BMECP sustainable. These funds enable BMECP to provide support to BME community in fulfilment of its objectives.
Objectives
To promote equality of opportunity for Black and Minority Ethnic individuals and their families and to challenge and combat racism and all forms of discrimination.
To support Black and Minority Ethnic Groups, individuals, and families by providing them with information, advice, and other assistance.
To develop and maintain contacts with the statutory, voluntary, and private sector organisations with the aim of encouraging them to implement policies that will promote equality of opportunity and good relations between people of different ethnic origins.
To deliver any services that are within the scope of the objects of BMECP.
To promote or carry out research and to disseminate the useful results of such research and to publish or distribute such information.
4
To establish, develop and maintain a resource centre catering particularly for, but not solely, the needs of black and ethnic peoples, including refugees and asylum seekers, who are residents in Brighton and Hove City.
ACTIVITIES
The organisation's charitable activities include:
BMECP Centre
The Centre has been in operation for more than 21 years and continues to thrive as a popular venue providing a welcoming, accessible, and affordable community space enjoyed by everyone.
We have several tenants renting our office spaces on medium to long term leases. Other spaces/meeting rooms are hired for training and community activities. Whilst office rental does generate enough steady income for the Centre, the other available spaces being hired for meetings/training has meant that we have more available space for meetings/training for the benefit of everyone. In keeping with BMECP's objectives, hires to charities is provided at a discount while office rentals priced competitively for our clients. We have a diverse beneficiary group thereby continuing to serve the community. Community members and groups are encouraged to support the Centre to ensure that the rooms and offices are used and that the Centre generates enough income to be self-sustaining which is very important for the going concern of the organisation.
BMECP operates a hot desking facility that enables smaller groups, organisations, and individuals to use the Centre facilities including the Centre address for their group or business. This also enables them to use the available desks as and when they require a private space on a rota basis. Members are offered a discount on room booking. This has and continues to provide opportunities for co-working and networking with other like-minded people - regular seminars and workshops, included in the hot desking package.
on Gift Aid Registra
On the 30th of May 2018, BMECP was recognised by HMRC as a charity for tax purposes under the Gift Aid scheme. This now means that BMECP can make claims for repayment of tax on individual donations to the centre under the Gift Aid Scheme within 4 years of its accounting period of the receipt of the donation. This is a revenue stream that is yet to be explored.
Improved BMECP Website
Our website acts as the eye of BMECP to the public. Visitors can see what our mission, aims and objectives are and also in some cases some of the strategies on how to achieve them.
BMECP has been using the website to fundraise including gift aid donations. We made some improvements that allows our website has the right content and we have attracted a lot of new visitors (traffic has increased), our supporters and other donors to market our organisation and raise funds for our social and charitable projects. While these small changes have had an impact, we aim to carry out a substantial overhaul of the website and add more transactional aspects to it.
5
Our main aim is to encourage our supporters, as well as the public to visit our website so that they can see what we do and at the same encourage them to donate funds to the charity. We continue to strive in leveraging the platform to connect with people in Brighton, surrounding areas and beyond the Southeast. Among the improvements, is to make the website user-friendly and to provide a compelling user experience regardless of the device's screen size used to access it. Among the transactional aspects we aim to bring is to enable 'self-service' of room hire processes. This we believe will help us maximise the use of the spaces, a good experience for the clients and freeing up the time of staff so that they have more time to connect with clients in the centre. Included the statement of cookie consent and made it clear in terms of GDPR compliance in last enhancement. We have included a privacy statement and going forward we will expose our important policies on the website.
Using Facebook for Fundmising & Marketing
Our Facebook page continues to attract more followers and improved engagement with the users. We continue to make sure our Facebook page has the right content, profile page photos and videos. We also utilise all the suites of tools and services offered by Face book.
Our Facebook has been clearly categorised us Non-Profit and utilised services such as Fundraisers, events, page insights, donations and so forth. We will continue to take advantage of Facebook Tools and services such as Fundraiser and Donate Button to raise cash through Gift Aid & other donations. With improved engagement and growing number of followers, BMECP will work on strategies that will help in converting some of the followers into members and critical friends of BMECP.
We continue to experiment and adopt tools such as Events to assist us organise supporters to participate in the activities if deemed effective. We can utilise tools such as Live for Live Fundraising Streams and place free advertisement space for charities. Furthermore, using the Fundraiser tool, we can use the ability for other people to fundraise on our behalf for our various causes.
Measuring Social Impact
BMECP currently measure or record the number of people visiting the centre and record of bookings or hiring our rooms for training and other purposes for board decisions.
BMECP wants to move away from just recording traffic into the centre but into Measuring and Demonstrating Social Impact. We want to measure the quality of our services such as the experience of our service users. As a result, we are planning to start capturing data through qualitative means such as surveys and questionnaires. We will always ask the user of our services to complete the questionnaire or survey forms. Use of user stories will be encouraged. As we focus more on the 'infrastructure provision' to BME groups, we will make sure that data is captured on the usefulness of the support provision as well as impact beyond the groups but also to their clients or service users.
FINANCIAL REVIEW
Financial position
There was a deficit for the period of £24,886 (2024): deficit £52,720 (2023) and unusable reserves of £1,116,666 for both 2023 and 2024. The unusable reserve holds the charity assets that are used to generate the funds to run the centre.
6
Reserves policy
BMECP's Trustees recognise the importance of having income available to be spent at the Trustees' discretion in furtherance of the charity's objects, but which is not yet spent, committed, or designated.
STRUCTURE, GOVERNANCE AND MAN GEMENT
As per the Gover g document, the Black and Minority Ethnic Community Partnership was incorporated as a company limited by guarantee on 15 March 2001 and received charitable stat'us on 14 March 2002. Its governing document is its Memorandum and Articles of Association dated 15 March 2001 as amended 30 March 2001 and 3 September 2002.
The Trustees must hold at least 3 meetings each year.
CHANGES TO THE ECONO:MIC CLIMATE AND ONGOING CHALLENGES TO BMECP
The impact of COVID-19 pandemic lockdown is still affecting the pace of room hiring at BMECP. We are still not at full capacity in terms of room usage and occupancy due to changes in working behaviours (remote working and meetings) which by extension is affecting BMECP usage. Project funding is becoming very challenging to access as the pool of funders is dwindling while the charitable organisations looking for funding is increasing.
ENERGY CRISIS
BMECP has also had to cope with high energy bills during the calendar year and this has become an existential threat to the workings of BMECP. Energy costs continue to weigh down on the organisation. The organisation is making the necessary efficiency savings to cope with the surge in energy costs. Some of the strategies to be implemented, based on recommendations from a survey commissioned by VCSE Energy Efficiency Scheme, are:
Creating an energy awareness campaign
Upgrading hand dryers Upgrading the heating system
Upgrading lighting to LEDs
. Implementing all the above would reduce the existing energy usage by 40.0%, resulting in a reduction in carbon emissions of 59.1 %.
W FOOD BANK REVI
The f dbank of BMECP started in May 2020 and the average number of families served is one hundred and twenty (120) per week. BMECP considers the Food bank provision as a natural extension of what it does to support the BME community within Brighton and Hove. Since we started the project during the Covid Pandemic; the number of beneficiaries increased exponentially to a point where the funding could not sustain the growth. BMECP continues to fundraise to maintain a reasonable level of provision. The BMECP Foodbank and others within the city where surveyed and researched leading to the publication of the 'Strengthening Dignified and Equitable Access to Affordable and Healthy Food in the City of Brighton & Hove' brief highlighting the importance of these projects while also recognising the challenges they face. The brief offers ideas on how to improve and how to mitigate some of the challenges. BMECP are keen to use these fundings/learning and craft out projects in collaboration with others to implement some of them.
7
RISKS
Due to high inflation in the last 12-24 months, BMECP's costs especially Gas and electricity, labour, repairs, insurance, and maintenance, continue to increase at a rate far much more than the income. We hope with the energy saving project being implemented will help to mitigate this risk.
In the last financial accounts, the Independent Examiner's report, highlighted risks around going-concern, because of this report, the board reconstituted itself through a combination of electing .. new trustees at the Annual General Meeting held on 10 November 2023 and appointments. The board also made improvements to the reporting mechanisms. BMECP has written off bad debts where they were no hope of recovering it and some of which have been carried for past 5 years. With this write off, it will enable the organisation to start on a clean slate. Going into the next financial year, we will institute processes and procedures to mon'.itor debt levels on a monthly basis. The Board would have to monitor the debtors' level. There will be strict control on accounts receivable. The clearing of the indebtedness to SIB is going to help in improving the levels of outgoings.
BMECP's Current Board
The current board was elected at the Annual General Meeting held on 10 November 2023. We would like to thank the retired trustee for her dedication and support to the charity.
The new team has worked together though with challenges but has managed to navigate the difficult situation, with positivity, resilience, optimism and determination and· the results have started showing. BMECP was able to meet its financial obligations to the creditors at maximum repayment arrangements.
8
STATEMENT OF TRUSTEES RESPONSIBillTIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).
The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.
In preparing this financial statement, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 2011 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
DISCLOSURE OF INFORMATION TO EXAMINER
. The trustees who held office at the date of approval of this trustees' report confirm that, so far as they are each aware, there is no relevant information of which the Charity's examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself / herself aware of any relevant information and to establish that the Charity's examiner is aware of that information.
EXAMINER
In line with the provision exemption in the Charities Act 2011 as amended, the trust have decided to continue with the services of Mr Adekunle Fawunmi FCCA, of Fabek Associates & Co Ltd as the charity's independent examiner.
'2_ 1,\-
9
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP
INDEPENDENT EXAMINERS REPORT TO TIIE MEMBERS OF BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP (BMECP}
We report on the accounts of the Trust for the year ended 31 March 2024, which are set out on Pages 13 to 27.
We have examined the financial statements of the Black and Minority Ethnic Community Partnership (the charity) for the year ended 31 March, 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes _, including a summary of significant accounting policies, the financial reporting framework that has been applied in their preparation, its applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and
referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
-
Give a true and fair view of the state of the charity's affairs as at 31 March, 2024 and of its incoming resources and application of resources for the year ended;
-
• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
Have been prepared in accordance with the requirements of the Charities Act 2011.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 2011 (the 1993 Act)) and that an independent examination is needed. It is our responsibility to: examine the accounts (under section 43(3)(a) of the 1993 Act);
-
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 43(7)(b) of the 1993 Act); and
-
To state whether particular matters have come to our attention.
10
Basi of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with the examination, I have reviewed the books of BMECP and can conclude that except for the going concern that is under threat, no matter has come to our attention.
- (1) Which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the 2011 Act; and To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act as amended.
Have not been met; or
(2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Going Concern
BMECP although has overdrawn their unrestricted account and they have worked to reduce the deficit when compared with last year and will need to do more to maintain the cashflow, otherwise the going concern will be under threat.
',
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our examination of the accounts has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for the independent examination work, or for the opinions we have formed.
Signed this 09 Day of December 2024
Adekunle Fawunmi
Fabek Associates and Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR
11
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024
| Notes | Cur ent year Unrestricted Funds |
Current year Restricted Funds |
Current yeai Total Funds |
Prior Year Total Funds |
|
|---|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Income & Endowments from: | |||||
| Donations & Legacies | 3 | 25,893 | 19,102 | 44,995 | 24,998 |
| Other trading activities | 4 | 3,588 | 3,588 | 5,499 | |
| Investments | 5 | 102,817 | 102,817 | 92,486 | |
| Other | 6 | 15,108 | 15,108 | 1,246 | |
| Total income | A | 147,406 | 19,102 | 166,508 | 124,229 |
| Expenditure on: | |||||
| Charitable activities | 7 | 172,292 | 19,102 | 191,394 | 176,949 |
| Total expenditure Net income for the year |
B | 172,292 (24,886) |
19,102 | 191,394 (24,886) |
176,949 (52,720) |
| Transfers between funds | C | - | - | ||
| Net movementin funds | (24,886) | (24,886) | (52,720) | ||
| Reconciliation of funds:- | E | ||||
| Total funds brought forward | (12,566) | 1,116,666 | 1,104,100 | 1,156,820 | |
| Total funds carried forward | (37,452) | 1,116,666 | **1,079,214 ** | 1,104,100 |
All activities derive from continuing operations
12
| SOFA-Prior Year | ||
|---|---|---|
| Prior Year NotesUnrestricted Funds 2023 £ Income & Endowments from: Domtion; & Legacies 3 4,500 Other trading activities 4 5,499 Investments 5 92,486 Other 6 1,246 Total income A 103,731 Expenditure on: Charitable activities 7 149,601 Total expenditure B 149,601 Net income for the year (45,870) Transfers between funds C 11,936 Net movement in funds (33,934) Reconciliation of funds:- E Total funds brought forward 21,368 Total funds carried forward (12,566) All activities derive from continuing operations |
Prior Year Prior Year Restricted Total Funds Funds 2023 2023 £ £ 20,498 24,998 5,499 92,486 1,246 20,498 124,229 27,348 176,949 27,348 176,949 (6,850) (52,720) (11,936) (18,786) (52,720) 1,135,452 1,156,820 1,116,666 1,104,100 ~~ |
~~ |
| BLACK & MINORITY ETHNIC COMMUNITY PARTNERSHIP - Resources applied in the year | ||
| ended 31 March 2024 towards fixed assets for Charity use:- | ended 31 March 2024 towards fixed assets for Charity use:- | |
| 2024 | 2023 | |
| £ | £ | |
| Funds generated in the year as detailed in the SOFA | (24,886) | (52,720) |
| Resources applied on functioml fixed assets | (2,839) | |
| Other applications of funds | ||
| Net resources available to fund charitable activities | (27,725) | (52,720) |
All activities derive from continuing operations
The resources applied on fixed assets tor charity use represents the cost ot additions Jess proceeds ot any disposals.
13
Movements in revenue and capital funds for the year ended 31 March 2024
| Revenue accumulated funds | Unrestricted Funds |
Restricted Funds |
Total Funds |
Last year Total Funds |
|---|---|---|---|---|
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Accumulated funds brought forward | (12,566) | (12,566) | 40,154 | |
| Recognised gains and losses before transfers | (24,886) | (24,886) | (52,720) | |
| (From)/To unrestricted revenne funds | (37,452) | (37,452) | (12,566) | |
| Closing revenue funds | (37,452) | {37,452} | {12,566} | |
| Fixed asset funds | Designated Funds |
Restricted Funds |
Total Funds |
Last year Total Funds |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| At 1 April | 1,116,666 | 1,116,666 | 1,116,666 | |
| At 31 March | 1,116,666 | 1,116,666 | 1,116,666 | |
| Summary of funds Unrestricted and Designated funds |
Restricted Funds Designated funds |
Total Funds |
Last Year Total Funds |
|
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Revenne accumulated funds Fixed asset funds |
(37,452) | 1,116,666 | (37,452) 1,116,666 |
(12,566) 1,116,666 |
| Total funds | {37,452) | 1,116,666 | 1,079,214 | 1,104,100 |
14
BLACK & MINORITY ETHNIC COMMUNITY PARTNERSHIP Income and Expenditure Account for the year ended 31 March 2024 as required by the Companies Act 2006
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income | ||
| Income from operations | 48,583 | 30,497 |
| Investment income and interest Income from investments, other than interest receivable Interest receivable Other operating income |
102,806 11 15,108 |
92,432 54 1,246 |
| Gross income in the year before exceptional items | 166,508 | 124,2,29 |
| Gross income in the year including exceptional items | 166,508 | 124,229 |
| Expenditure | ||
| Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Govern e costs |
139,674 50,471 1,000 |
123,374 50,226 1,000 |
| Interest payable Realised losses on disposals of social investments which are programme related |
249 | 2,349 |
| Total expenditure in the year | 191,394 | 176,949 |
| Net income before tax in the financial year | (24,886) | (52,720) |
| Tax on surplus on ordinary activities | ||
| Net income after tax in the financial year | (24,886) | (52,720) |
| Retained surplus for the financial year | (24,886) | (52,720) |
All activities derive from continuing operations
15
BLACK AND MINORITY ETHNIC COMMUNITY PAR1NERSHIP BALANCE SHEET FOR THE YEAR ENDED 31 MARCH, 2024
| Notes | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets Tangible assets |
8 | 1,090,712 | 1,138,344 | ||
| Current assets Debtors Cash at bank and in hand |
9 10 |
11,087 | 3,849 10,692 |
||
| Total current assets | 11,087 | 14,541 | |||
| Creditors: amounts falling due | |||||
| within one year | 11 | (22,585) | (25,933) | ||
| Net current assets | (11,498) | (11,392) | |||
| Net assets | 1,079,214 | 1,126,952 | |||
| Creditors: amounts falling due after | Creditors: amounts falling due after | ||||
| more than one year | 12 | (22,852) | |||
| The total net assets of the charity |
1,079,214 | 1,104,100 |
The total net assets of the charity are funded by the funds of the charity, as follows:-
| Restricted funds | |||||
|---|---|---|---|---|---|
| Restricted Fixed Asset Funds | 12 | 1,116,666 | 1,116,666 | ||
| 1,116,666 | 1,116,666 | ||||
| Unrestricted Funds | |||||
| Unrestricted Revenue Funds | 12 | (37,452) | (12,566) | ||
| (37,452) | (12,566) | ||||
| Designated Funds | |||||
| Total charity funds | 1,079,214 | 1,104,100 |
16
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 4 77 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 4 7 6 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Chandrakant Mehta
Trustee
Approved by the board of trustees Date:
17
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP CASH FLOW STATEMENT FQR THE YEAR ENDED 31 MARCH, 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Cash flows from operating activities | ||||||
| Net cash provided by operating activities as shown below | A | (99,583) | (115,314) | |||
| Cash flows from in.vesting activities Interest received Other investment income, including rents from investments Purchase of property, plant and equipment |
11 102,806 (2,839) |
54 92,432 |
||||
| Net cash provided by investing activities | B | 99,978 | 92,486 | |||
| Cash flows from fina cing activities Cash inflows from new borrowings |
||||||
| Net cash provided byfin ingactivities |
C | |||||
| Overall cash provided by all activities | A+B+C | 395 | (22,828) | |||
| Cash movements | ||||||
| Change in cash and cash equivalents from activities in the year ended 31 March 202 4 |
395 | (22,828) | ||||
| Cash and cash equivalents at 1 April 2023 | 10,692 | 56,348 | ||||
| **• ** | Cash at bank and in hand less overdrafts at 31 | |||||
| March | 11,087 | 33,520 | ||||
| Reconciliation of net income to net cash flow from operating activities | ||||||
| Net income as shown in the Statement of Financial Activities | Net income as shown in the Statement of Financial Activities | (24,886) | (52,720) | |||
| Adjustments for: | ||||||
| Depreciation charges | 50,471 | 50,226 | ||||
| Write downs of investments | ||||||
| Net unrealised losses on investment assets | ||||||
| Dividends, interest and rents from investments Decrease in debtors Increase in creditors, excluding loans |
(102,817) 3,849 (26,200) |
(92,486) 3,327 (23,661) |
||||
| Net cash provided by operating activities | A | (99,583) | (115,314) |
18
BLACK AND MINORITY ETHNIC COMMUNITY PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies
1.1 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
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.
Black and Minority Ethnic Community Partnership meet the definition of 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.
1.2 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 can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.3 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. E xpenditure is classified by activity. The costs of each activity are made up of the total 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 allocated on the portion of asset's use.
19
Expenditure on charitable activities in incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
| Freehold property | - not depreciated |
|---|---|
| Long term leasehold property | - 100 years |
| Fixtures and Fittings | - 5 years |
| Office Equipment | - 7 years |
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 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 or similar account.
1.8 Llabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
20
Liabilities are recognised at the amount that the Charity anticipated it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle obligation. Where the effect of the time is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2. 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for particular purposes. The costs ofraising and administering such funds are charged against the·specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from Donations and Legacies
| Income from Donations and Legacies | |||
|---|---|---|---|
| Current year Current year unrestnctect Kestnctect Funds Funds |
Current year Total Funds |
Prior Year Total Funds |
|
| 2024 2024 |
2024 | 2023 | |
| £ £ |
£ £ |
£ | |
| Total donations and gifts from individuals |
25,893 19,102 |
44,995 | 24,998 |
| Prior Year Prior Year Prior Year |
|||
| Unrestricted Restricted |
|||
| Funds | Funds Total Funds |
||
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Total donations and gifts from individuals |
4,500 | 20,498 | 24,998 |
21
4. Income from Other Non-Charitable Activities
| Current year Unrestricted |
Current year Restricted |
Current year Total Funds |
Prior Year Total Funds |
||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Catering and other services income | 3,588 | 3,588 | 5,499 | ||
| 5. | Investment Income | ||||
| Current year Unrestricted Funds |
Current year Restricted Funds |
Current year, Total Funds |
,Prior Year Total Funds |
||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Property Rental Income | 102,806 | 102,806 | 92,432 | ||
| Bank Interest Receivable | 11 | 11 | 54 | ||
| Total investment income | 102,817 | 102,817 | 92,486 | ||
| 6. | Other IncomeandGains | ||||
| Current year Unrestricted |
Current year Restricted |
Current year Total Funds |
Current year Prior Year Total Funds |
||
| Funds | Funds | ||||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ £ |
£ | ||
| Sundryother income | 15,108 | 15,108 | 1,246 | ||
| Total other income | 15,108 | 15,108 | 1,246 | ||
| 7. | Expenditure on Charitable Activities | ||||
| Current year | Current year | Current year | Prior Year | ||
| Unrestricted | Restricted | Total Funds | Total Funds | ||
| Funds | Funds | ||||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Gross wages and salaries Defined contribution pemion costs |
35,890 2,545 |
35,890 2,545 |
33,618 837 |
||
| Ex staff payment Training |
75 | 75 | 500 | ||
| Food bank project | 18,912 | 18,912 | 16,498 | ||
| Other projects - sewing grp, womengrp |
190 | 190 | 2,236 | ||
| Taxes and Nis | 3,765 | 3,765 |
22
| Refunds | 121 | 121 | 36 | |
|---|---|---|---|---|
| Provision for Bad Debts | 19,195 | 19,195 | 10,482 | |
| Total direct spending | **61,591 ** | 19,102 | **80,693 ** | 64,207 |
| All the expenditure in the prior year was unrestricted. | ||||
| Prior Year | Prior Year | Prior Year | ||
| Prior Year | Unrestricted Funds |
Restricted Funds |
Total Funds | |
| 2023 | 2023 | 2023 | ||
| £ | £ £ |
£ £ |
||
| Gross wages and salaries | 25,213 | 8,405 | 33,618 | |
| Defined contnbution pension costs | 628 | 209 | 837 | |
| Training | 500 | 500 | ||
| Food bank project | 16,498 | 16,498 | ||
| Other projects - sewing grp, | 2,236 | 2,236 | ||
| Refunds | 36 | 36 | ||
| Provision for Bad Debts | 10,482 | 10,482 | ||
| Total direct spending | **36,859 ** | 27,348 | 64,207 | |
| Support costs for charitable activities | Current year Unrestricted |
Current year Restricted |
Current year Total Funds |
Prior Year Total Funds |
| Funds | Funds | |||
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Volunteer costs Volunteers' expenses |
73 | 73 | 73 | |
| Pre.mises Expeoses | ||||
| Rates and water charges | 2,096 | 2,096 | ||
| Light heat and power | 17,255 | 17,255 | 21,105 | |
| Cleaning and waste management | 10,586 | 10,586 | 9,236 | |
| Premises repairs, renewals and Fire and Security |
2,290 968 |
2,290 968 |
3,626 | |
| AdmiDistrative overheads Telephone, fax and internet |
4,452 | 4,452 | 3,192 | |
| Postage | 68 | |||
| Stationery and printing Software licences and expenses |
79 561 |
79 561 |
137 569 |
|
| Health and safety costs | 1,365 | |||
| Business Insurance | 2,412 | 2,412 | 6,906 | |
| Sundryexpenses Ad.min costs |
1,435 | 1,435 | 547 1,612 |
|
| IT Support cost | 9,094 | 9,094 | 4,990 |
23
.,.
| Professional fees paid to advisors other than the auditor or examiner | Professional fees paid to advisors other than the auditor or examiner | Professional fees paid to advisors other than the auditor or examiner | ||
|---|---|---|---|---|
| Accountancy fees other than | 3,292 | 3,292 | 3,747 | |
| Other legal and professional | 3,882 | 3,882 | ||
| Marketing and Publicity | 257 | 257 | 1,752 | |
| Fina ial costs Bank charges |
249 | 249 | 242 | |
| Loan interest | 249 | 249 | 2,349 | |
| Depreciation & Amortisation in | 50,471 | 50,471 | 50,226 | |
| Total support costs - Cur ent Year | 109,701 | 109,701 | 111,742 | |
| Other Expenditure - Governa ce costs | ||||
| Current year Umestricted |
Current yearCurrent year Umestricted Restricted |
Current year Total Funds |
Prior Year Total Funds |
|
| Current Year | Funds | Funds Funds |
||
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ £ |
£ | £ | |
| Independent Examiner's fees | 1,000 | 1,000 | 1,000 | |
| Total Governa e costs |
1,000 | 1,000 | 1,000 | |
| Total Charitable expenditure | ||||
| Current year Umestricted Funds |
Current yearCurrent year Umestricted Restricted Funds Funds |
Cur ent year Total Funds |
Prior Year Total Funds |
|
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ £ |
£ | £ | |
| Total direct spending | 61,591 | 19,102 | 80,693 | 64,207 |
| Total support costs | 109,701 | 109,701 | 111,742 | |
| Total Govern e costs |
1,000 | 1,000 | 1,000 | |
| Total charitable expenditure | 172,292 | 19,102 | 191,394 | 176,949 |
| **Prior Year. ** | Prior Year | Prior Year | ||
| Unrestricted | Restricted | Total Funds | ||
| Prior Year | Funds | Funds | ||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| Total direct spending | 36,859 | 27,348 | 64,207 | |
| Total support costs | 111,742 | 111,742 | ||
| Total Governa ce costs | 1,000 | 1,000 | ||
| Total charitable expenditure | 149,601 | 27,348 | 176,949 |
24
Staff costs and emoluments
| Salarycosts | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Gross Salaries excluding trustees and key management personnel | 35,890 | 33,618 |
| Employer's operating costs of defined contnbution pension |
||
| schemes | 2,545 | 837 |
| Total salaries, wages and related costs | 38,435 | 34,455 |
The average IU1Illber of part time staff employed in the year was 4 4 Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
There is no e mployee whose emoluments including taxable benefits exceeds £50,000.
8. Tangible Fixed As ets
8.
| Long Leasehold& Improvt to |
Office Equipment |
Fixtures& Fittings |
Total | |
|---|---|---|---|---|
| Property | ||||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2023 Additions |
1,237,727 | 18,017 1,839 |
5,468 1,000 |
1,261,212 2,839 |
| At 31 March 2024 | 1,237,727 | 19,856 | 6,468 | 1,264,051 |
| Depreciation At 1 April 2023 |
99,739 | 17,661 | 5,468 | 122,868 |
| Charge for the year | 49,873 | 540 | 58 | 50,471 |
| At 31 March 2024 | 149,612 | 18,201 | 5,526 | 173,339 |
| Net book value | ||||
| At 31 March 2024 | 1,088,115 | 1,655 | 942 | **1,090,712 ** |
| At 31 March 2023 | 1,137,988 | 356 | 1,138,344 | |
| Debtors | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Trade debtors | 29,677 | 14,331 | ||
| Provisions for Doubtful Debts | (29,677) | (10,482) | ||
| **3,849 ** |
Debtors
25
| 9. | Creditors: amounts falling due within one year | 2024 | 2024 | 2023 | |
|---|---|---|---|---|---|
| £ | £ £ |
||||
| Trade creditors | 17,951 | 13,468 | |||
| Deferred Income - Restricted funds | 6,197 | ||||
| PAYE,NIC | 2,339 | 6,268 | |||
| 22,585 | 25,933 | ||||
| 10. | Cash and Bank | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Cash in hand at for the year ended 31 March | 11,087 | 10,692 | |||
| 11. | Total cash and cash equivalents Creditors: amounts falling due after one year |
11,087 10,692 2024 2023 |
|||
| £ | £ | ||||
| Bank loan; and overdrafts | 22,852 | ||||
| 12. | Particulars of how particular funds are represented by assets and liabilities | ||||
| At 31 March 2024 | Unrestricted funds |
Restricted funds |
Total Funds |
||
| £ | ·£ | £ | |||
| Tangible Fixed Assets | (25,954) | 1,116,666 | 1,116,666 1,090,712 |
||
| Current Assets | 11,087 | 11,087 | |||
| Current Liabilit es | (22,585) | (22,585) | |||
| Long Tenn Liabilities | |||||
| **(37,452) ** | 1,116,666 | 1,079,214 | |||
| At 1 April 2023 | Unrestricted funds |
Restricted funds |
Total Funds |
||
| £ | £ | £ | |||
| Tangible Fixed Assets | 21,678 | 1,116,666 | 1,116,666 1,138,344 |
||
| Current Assets | 14,541 | 14,541 | |||
| Current Liabilities Long Tenn Liabilities |
(25,933) (22,852) |
(25,933) (22,852) |
|||
| (12,566) | 1,116,666 | 1,104,100 |
13. There is no Related Party transaction to be disclosed for the year 2023/24 and preceding year 2022/23.
14. There is no post balance sheet event to be disclosed for the year 2023/24 and preceding year 2022/23.
26