Company number: 04399628
MS Development Corporation Limited
(A company limited by guarantee)
Report of the Directors and Unaudited Financial Statements
Period of accounts
Start date: 1[st] April 2023 End date: 31[st] March 2024
MS Development Corporation Limited (A company limited by guarantee)
Contents of the Financial Statements
For the Period Ended 31[st] March 2024
Pages Company Information ......................................................... 2 Report of the Trustees ....................................................... 3-6 Examiner’s Report ............................................................. 7-8 Statement of Financial Activities ........................................ 9 Balance Sheet ................................................................... 10 Notes to the Financial Statements ................................... 11-13
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MS Development Corporation Limited (A company limited by guarantee)
Company Information
For the Period Ended 31[st] March 2024
| Directors | Eva Mugowa - Chairperson |
|---|---|
| Yvonne Kabahuma | |
| George Lutaya | |
| Secretary | Sarah Pulle |
| Company Registration Number | 04399628 (England and Wales) |
| Charity Registration Number | 1097965 |
| Company Registered Address | 13 Liphook Close |
| Elm Park, Hornchurch | |
| Essex | |
| RM12 4LS | |
| Accountant | SFA & CO. Ltd |
| 3 Sunnydene Close | |
| Romford | |
| RM3 0TL | |
| Bankers | NatWest Bank |
| Hornchurch Branch |
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MS Development Corporation Limited (A company limited by guarantee)
Directors/Trustees Report
For the Period Ended 31[st] March 2024
The Trustees, who are also directors of the Charity for the purpose of the Companies Act are pleased to present their report together with the financial statements of the charity for the year ended 31/03/2024.
The trustees confirm that the annual report and the financial statements comply with current statutory requirements, the company’s memorandum and articles of association and the Statement of Recommended Practice (SORP) applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Island (FRS 102) effective from January 2015.
As the Company qualifies as small under section 383, the strategic report required of medium or large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulation 2013 is not required.
Objectives
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To protect and preserve public health and relieve sickness amongst people from African and other ethnic minority communities.
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To relieve those people who are in need, hardship or distress; and,
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To advance their education in such charitable ways as the board see fit.
Our mission statements
The values that drive our organisation are:
Promoting user involvement at all levels in the organisation in order to develop services that are tailored to the needs of users.
Actively promoting self-help, personal development, and social integration.
We do this primarily through our own delivery, but also influencing and supporting others to promote individual health and well-being, personal development and educational attainment of disadvantaged members of the community.
The trustees review the aims, objectives and activities of the charity every year. This report reviews what the charity has accomplished and outcomes of its work in the reporting period. The review assists the trustees in ensuring that charity’s aims, objects and activities were delivered in accordance with its stated purposes.
Achievements
MS Development Corporation Limited worked with sessional workers and volunteers to promote health and well-being among Black Minority Ethnic using innovative ways of reaching and engaging our target population through virtual community interventions, social media, as well as collaborations and joint working with HIV
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MS Development Corporation Limited (A company limited by guarantee)
Directors/Trustees Report (continued)
For the Period Ended 31[st] March 2024
activists. We also partnered with Northwest London NHS Trust to provide training for refugees who wish to access employment in the NHS and other programme partners across NW London.
Health and well-being
This year our health and well-being outreach programme delivered in the London Boroughs of Barking and Dagenham, Havering and Redbridge focused on keeping people healthy and engaging them in health promotion events aimed at improving their understanding of different approaches to reducing or eliminating exposure to HIV and STI infections.
We supported Positive East to run community-based HIV & STI testing sessions, by mobilising people for HIV & STI testing, disseminating information resources, and signposting people to other services and support.
Service user comments:
“It is good to see that information on HIV/AIDS and STIs is still offered in the community, as many people think that it is gone away”
Education
We worked with West London NHS Trust to deliver the Step into Work programme aimed at recruiting and training refugees who wish to access employment in the NHS and other programme partners across Northwest London.
Through this training programme we supported over 200 people to acquire employment skills, gain the confidence to apply for and get jobs that fit their qualifications, and or return to further education.
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MS Development Corporation Limited (A company limited by guarantee)
Directors/Trustees Report (continued)
For the Period Ended 31[st] March 2024
Case Study
Mary was seeking a job after getting the right to work in the UK. However, being a refugee with no references and no work history in the UK it was so hard for her to get a job. After she attended the Step into Work programme, she gained new skills and confidence to search for jobs, and complete application forms. She was invited to the interview and was offered a job.
Feedback from service users:
“I express my gratitude and appreciation for the guidance you have given me during my journey searching for a job. It was not easy for me without your team. Honestly, I had given up. Being a refugee with no references and no work history in the UK is one of the hindrances to the job world. I am happy to tell you that I have been offered a job with Imperial NHS trust and I'm starting work on 22nd October 2024.”
“Am grateful for the support I received especially on how to write a CV. I was already looking around for a health care assistant job into the hospital, but I was failing to get one. Through the training I was able to write my CV, and I got the job.”
Support in Kind
Essential Items distribution
We received essential items from InKind Direct at reduced costs, which were distributed to disadvantaged families in Havering, Barking and Dagenham. Over 120 families have benefited from household, toiletries, and clothing items. With many families facing financial hardship, the demand for support has increased over the last year.
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MS Development Corporation Limited (A company limited by guarantee)
Directors/Trustees Report (continued)
For the Period Ended 31[st] March 2024
Service user’s comment:
“I recently lost my job; it is hard to afford essential items for the family and pay the bills. I am so grateful for help.”
Funding
We benefited from the support provided by our valued funders and in-kind supporters such as the National Community Fund, the Department of Digital, Culture, Media & Sports, and The National Lottery Community Fund and InKind Direct.
Approval
The report was approved by the Board of Trustees on 15[th] December 2024, and signed on its behalf by:
Eva Mugowa Chairperson
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MS Development Corporation Limited (A company limited by guarantee)
Independent Examiner’s report
For the Period Ended 31[st] March 2024
We have examined the financial statements of MS Development Corporation Limited for the year ended 31[st] March 2024 as set out on pages 6 & 7. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our examination work has been undertaken so that we might state to the charitable company's members 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 charitable company and its members, as a body, for our examination work, for this report, or for the opinion we have formed.
Respective responsibilities of Trustees and examiners
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Opinion on financial statements
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31[st] March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Opinion on other matters prescribed by Companies Act 2006
In our opinion the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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MS Development Corporation Limited (A company limited by guarantee)
Independent Examiner’s report (continued)
For the Period Ended 31[st] March 2024
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our examination have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our examination; or
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies' exemption in preparing the Trustees' report.
Syed Hashemi SFA&CO. Ltd 3 Sunnydene Close Romford RM3 0TL
Date: 16/01/2025
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MS Development Corporation Limited (A company limited by guarantee)
Statement of Financial Activities
For the Period Ended 31[st] March 2024
| Note INCOMING RESOURCES Incoming resources from generated funds Voluntary Income 2 Incoming resources from charitable activities 3 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 4 Governance 5 TOTAL RESOURCES EXPENDED NET INCOME/(EXPENDITURE) FOR THE YEAR Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds £ 470 - 470 470 - 470 - (326) (326) |
Restricted Funds £ - 26,000 26,000 23,282 1,150 24,432 1,568 1,766 3,334 |
2024 Total £ 470 26,000 26,470 23,752 1,150 24,902 1,568 1,440 3,008 |
2023 Total £ |
|---|---|---|---|---|
| - 18,146 |
||||
| 18,146 | ||||
| 16,405 350 |
||||
| 16,755 | ||||
| 1,391 49 1,440 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes form part of these financial statements.
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MS Development Corporation Limited (A company limited by guarantee)
Balance Sheet
As at 31[st] March 2024
| Notes Non-current assets Fixed assets Current assets Debtors and prepayments 6 Cash at bank and in hand Total current assets Creditors Creditors: amounts falling due within one year 7 Net current assets (Liabilities) Total assets less current liabilities Total net Assets (Liabilities) Accumulated Funds Restricted funds 8 Unrestricted funds Total Accumulated Funds |
2024 £ - - 120 5,171 5,291 (2,283) 3,008 3,008 3,008 |
2023 £ - |
|---|---|---|
| - | ||
| - 1,790 |
||
| 1,790 (350) |
||
| 1,440 | ||
| 1,440 | ||
| 1,440 | ||
| 3,334 (326) 3,008 |
1,766 (326) 1,440 |
For the year ending 31[st] March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required obtaining an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
The financial statements were approved by the Board of Directors on 29[th] December 2024 and signed on their behalf by:
Eva Mugowa – Chairperson
The notes form part of these financial statements.
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MS Development Corporation Limited (A company limited by guarantee)
Notes to the Financial Statements
For the Period Ending 31[st] March 2024
1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), and the Statement of Recommended Practice (SORP), ‘’Accounting and Reporting by Charities’’ revised in 2005, and applicable standards and the Companies Act 2006.
Fund accounting
General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the company.
Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Overheads and other salaries are allocated between the expense headings on the basis of head account. Liabilities are recognised when there is a legal of constructive obligation committing the company to the expenditure.
Governance costs are those incurred in connection with enabling the company to comply with external regulation, constitutional and statutory requirements and in providing support to the Directors in the discharge of their statutory duties.
2. Voluntary Income
| Donations Other income |
Unrestricted Funds £ 470 - 470 |
Restricted Funds £ - - - |
2024 Total £ 470 - 470 |
2023 Total £ |
|---|---|---|---|---|
| - - - |
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MS Development Corporation Limited (A company limited by guarantee)
Notes to the Financial Statements (continued)
For the Period Ending 31[st] March 2024
3. Charitable Income
| Community Fund: Your Health First Sexual Health Outreach Step In Work |
Unrestricted Funds £ - - - - |
Restricted Funds £ - 14,000 12,000 26,000 |
2024 Total £ - 14,000 12,000 26,000 |
2023 Total £ |
|---|---|---|---|---|
| 9,980 8,166 - 18,146 |
4. Charitable Expenditure
| Workshops Exp. Community Champion Exp. Co-ordinators Exp. Insurance Costs Volunteers Exp. Travel Costs Communication Costs Administrative Costs Office Rent Publicity - Website Equipment Costs |
Unrestricted Funds £ - - - - - - - 470 - - - 470 |
Restricted Funds £ 10,729 - 6,010 - 4,985 178 184 80 432 519 165 23,282 |
2024 Total £ 10,729 - 6,010 - 4,985 178 184 549 432 519 165 23,752 |
2023 Total £ |
|---|---|---|---|---|
| 2,210 1,680 10,420 183 160 - 144 419 - 34 1,155 16,405 |
5. Governance Costs
| Bank Charges Accounting and auditing Office Expenses |
Unrestricted Funds £ - - - - |
Restricted Funds £ - 450 700 1,150 |
2024 Total £ - 450 700 1,150 |
2023 Total £ - 350 - 350 |
|---|---|---|---|---|
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MS Development Corporation Limited (A company limited by guarantee)
Notes to the Financial Statements (continued)
For the Period Ending 31[st] March 2024
6. Debtors:
| Debtors: | ||
|---|---|---|
| Prepayments Other debtors Total creditors |
2024 £ 120 - 120 |
2023 £ |
| - - - |
7. Creditors: amounts falling due within one year
| Trade creditors Accruals Other creditors Total creditors |
2024 £ 1,633 450 200 2,283 |
2023 £ |
|---|---|---|
| - 350 - 350 |
8. Summary of Accumulated Funds
| Charitable Income Voluntary Income |
Funds b/d £ 1,651 (211) 1,440 |
Unrestricted Funds £ - - - |
Restricted Funds £ 1,568 - 1,568 |
Funds c/f £ |
|---|---|---|---|---|
| 3,219 (211) 3,008 |
9. Share Capital
MS Development Corporation Limited is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
10. Taxation
Under the provision of Tax Act 1988 sections 505 and 506, the charity company is not liable to tax on its charitable grants, donations or fee income earned in the course of its charitable activities, so long as the income is applied for the purposes of the company’s charitable aims.
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