2022-03-31-accounts - Somali Education Development Centre (Sedec)

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SOMALI EDUCATION DEVELOPMENT CENTRE Trustees, report and financial statement For the year ended 31 March 2022

SOMALI EDUCATION DEVELOPMENT CENTRE

Contents

For the year ended 31 March 2022

Contents	Page
Legal and administrative information		1
Trustees’ report		2-3
Independent examiner’s report		4
Statement of financial activities		5
Balance Sheet		6
Notes to the financial statement		7-8

SOMALI EDUCATION DEVELOPMENT CENTRE

Legal and Administrative Information For the year ended 31 March 2022 Status: Charity registered in England & Wales Charity number: 1097903 Office: 203 Lewisham Way London SE4 1UY Contact No: 020 8432 6326 Trustees: Abdullahi Gafow -Chairman Ibrahim Habarwa -Member Hawo Rageh -Member Faduma Mohamud -Member Bankers: HSBC Bank Nine Brindle place 4 Oozells Square Birmingham B1 2HB Accountants: Issa Associates Accountants and Tax Consultants Suite 116, 80 Scrubs Lane London NW10 6RF

SOMALI EDUCATION DEVELOPMENT CENTRE

Trustees’ Report

For the year ended 31 March 2022

The report and the financial statement for the period ended 31 March 2022. The trustees who served during the period are up to the date of this report is set out on page 1.

Structure, governance, and management

Constitution

The charity is run and managed by the trustees according to the constitution

Objectives and activities

The charity main objective is to advance education and poverty relief for the local under privileged service users.

Achievement and performance

Education

The charity organised after school actives for children during the year under review. These activities include extra school lessens in English, Mathematics and extra curriculum activities in sporting activities

Financial review

Funding

The funding during the year under review was mainly from local community members who use our services.

Statement of Trustees

The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales required the Text Switch to prepare financial statements for each financial period which give a true and fair view of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the Text Switch is required to:

Select suitable accounting policies and then apply them consistently.
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether appliable UK Accounting Standards have been followed 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 operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable Text Switch to ensure that the financial statements comply with the Charities Act 1993 and Charity (Accounts and Report) Regulation 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SOMALI EDUCATION DEVELOPMENT CENTRE

Trustees’ Report (continued)

For the year ended 31 March 2022

Funding

The charity would like to thank all those who generously funded and supported our activities. It is through their support that the charity has largely been able to implement our projects for the benefit of our community.

This report was approved by the board and signed on its behalf by:

Chairman Abdullahi Gafow

Date: 12[th] May 2023

SOMALI EDUCATION DEVELOPMENT CENTRE

Independent examiner’s report

For the year ended 31 March 2022

I have examined the accounts of Somali Education Development Centre on pages 5 and 6, for the year ended 31[st] March 2022, which have been prepared on the basis of receipts and payments.

Respective responsibilities of trustees and independent examiner

As the charity’s trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section (43)(3)(a) of the Act, and to state whether matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 a trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(i) which gives me reasonable cause to believe that in any material respect the requirements:
to keep proper accounting records in accordance with section 41 of the Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

-----------------------------------------Issa Associates Accountants and Tax Consultants Suite 116, 80 Scrubs Lane London NW10 6RF

Date: 12 May 2023

SOMALI EDUCATION DEVELOPMENT CENTRE

Statement of Financial Activities

For the year ended 31 March 2022

Notes Income Grants and Donations Grants and voluntary donations Sundries Expenditure Salaries and wages Rent and service charges Light & heat Insurance Telephone & Internet Legal and professional Postage and stationery Total expenditure Surplus/(deficit) for the year	Unrestricted £ 57,338 - 57,338 43,569 12,000 500 331 316 200 285 57,201 137	Restricted £ - - - - - - - - - - - -	2021 Total funds Total funds £ £ 57,338 60,474 - 57,338 60,474 43,569 46,570 12,000 12,000 500 400 331 331 316 381 200 200 285 273 57,201 60,155 137 319 2022

SOMALI EDUCATION DEVELOPMENT CENTRE

Balance Sheet

For the year ended 31 March 2022

Notes Fixed assets: Office equipment 3 Current Assets: Cash at bank and in hand Current liabilities payable within 1 year: Creditors and accruals 5 Net Current Assets Total Assets less current liabilities Funds: Balance for the period Balance brought forward	£ £ £ £ - - 3,487 3,350 3,487 3,350 (200) (200) 3,287 3,150 3,287 3,150 137 319 3,150 2,831 3,287 3,150 2021 2022	£ £ £ £ - - 3,487 3,350 3,487 3,350 (200) (200) 3,287 3,150 3,287 3,150 137 319 3,150 2,831 3,287 3,150 2021 2022

		3,150
		319 2,831
		3,150

The statement of financial activities as set out on page 5 for the financial year ending 31 March 2022, and the statement of assets and liabilities as set out on this page are as approved by the trustees on 12 May 2023.

………………………………

Chair Abdullahi Gafow

SOMALI EDUCATION DEVELOPMENT CENTRE

Notes to the Accounts

For the year ended 31 March 2022

1 Basis of accounting

The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with Statement of Recommended Practice (SORP 2015), "Accounting and Reporting by Charities" and applicable accounting standards.

2 Accounting Policies

A summary of the principal accounting policies, all of which have been applied consistently throughout the year is set out below.

2.1 Income and expenditure

All income and expenditure is accounted for on accrual basis.

2.2 Fund Accounting

General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are funds subject to specific restrictive conditions imposed by donors.

2.2 Tangible Fixed assets and Depreciation

Tangible fixed assets are stated at cost.

Provision for depreciation of fixed assets held for use by the charity is made at an annual rate of 25% on straight line basis.

2.3 Status

The charity is a company limited by guarantee. The members are the trustees named on page 1. The liability in respect of the guarantee, as set out in the Memorandum, is limited to £1 per member of the company.

SOMALI EDUCATION DEVELOPMENT CENTRE

Notes to the Accounts

For the year ended 31 March 2022

3 Tangible Fixed Assets Costs At 1 April 2021 Additions during the year At 31 March 2022 Depreciation At 1 April 2021 Charge for the period At 31 March 2022 Net Book value At 31 March 2022 At 31 March 2021 4 Creditors and accruals Accounts fee	Office equipment Total £ £ - - - - - - - - - - - - - - - - 2022 2021 £ £ 200 200 200 200