2022-03-31-accounts - Chicksand Citizens Forum Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered number 3824979

Charity Number 1098116

Chicksand Citizens Forum Limited

Report of the Trustees and Unaudited Financial Statements for the Year Ended

31 March 2022

Chicksand Citizens Forum Limited Report and accounts Contents

	Page
Company information	1
Report of the Trustees	2
Accountants' report	3
Statement of Financial Activities	4
Balance sheet	5
Statement of changes in reserve	6
Notes to the accounts	7

Chicksand Citizens Forum Limited Company Information

Directors

A A Rouf M A Shahid R Miah

Accountants

Brothers Accountants Ltd Chartered Certified Accountants 441 High Street North London E12 6TJ

Registered office

Unit 48, The Micro Business Park 46-50 Greatorex Street London E1 5NP

Registered number

3824979

Charity number 1098116

Chicksand Citizens Forum Limited Registered number: 3824979 Report of the Trustees

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 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OBJECTIVES AND ACTIVITIES

The charity's objectives are as follows:

 To advance training for employment
 The advancement of education
 To relieve poverty
 To promote race relations

The policies adopted in furtherance of these objects are to provide affordable commercial premises for rent to newly establish small businesses at the charity's purposes uild micro business park and there have been no changes to these during the year.

To maximise capacity and rental income recoverable throughout the year.

ACHIEVEMENT AND PERFORMANCE

The letting of the units are at full capacity and education facilities are used in full.

FINANCIAL REVIEW

The charity received income of £178,570 (2021: £200,525) during the year. After payment of outgoing expenses of £172,344(2021: £175,724), the charity was left with a surplus of £7,376 (2021: £24,824).

This report was approved by the board of trustees on 28 March 2023 and signed on its behalf.

A A Rouf Trustee

M A Shahid Trustee

Chicksand Citizens Forum Limited

Independent Examiner's Report to the Trustees of Chicksand Citizens Forum Limited

I report on the accounts for the year ended 31 March 2022 set out on pages four to eight.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for

 examine the accounts under Section 145 of the 2011 Act
 to follow the procedures laid down in the General Directions given by the Charity
 to state whether particular matters have come to my attention.

Basis of the independent examiner's report

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 xplanations 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 onsequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

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

(1) Which gives me reasonable cause to believe that, in any material respect, the requirements
 to keep accounting records in accordance with Section 386 and 387 of the Companies  to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper

Md Kaykubad Adil Chowdhury, FCCA

Brothers Accountants Ltd Chartered Certified Accountants 441 High Street North London E12 6TJ

28 March 2023

Chicksand Citizens Forum Limited Statement of Financial Activities for the year ended 31 March 2022

Notes Incoming Resources Incoming resources from generated funds Activities for generating funds 1 Gross profit Interest receivable Total incoming resources Resource expended Governance and other costs Net Incoming / (outgoing) resources Reconciliation of funds Total funds brought forward Total funds carried forward	2022 £ 178,570 178,570 12 178,582 (171,206) 7,376 262,039 269,415	2021 £ 200,525 200,525 23 200,548 (175,724) 24,824 237,215 262,039

Chicksand Citizens Forum Limited Registered number: 3824979 Balance Sheet as at 31 March 2022

Notes Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets Funds Unrestricted funds Total funds	2022 £ 182,130 - 140,362 140,362 (53,077) 87,285 269,415 269,415 269,415	2021 £ 142,571 2,859 165,355 168,214 (48,746) 119,468 262,039 262,039 262,039

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

A A Rouf Trustee Approved by the board on 28 March 2023

M A Shahid Trustee

Chicksand Citizens Forum Limited Statement of Changes in Reserve for the year ended 31 March 2022

At 1 April 2020 Surplus for the financial year At 31 March 2021 At 1 April 2021 Surplus for the financial year At 31 March 2022	Surplus and shortage account £ 237,215 24,824 262,039 262,039 7,376 269,415	Total £ 237,215 24,824 262,039 262,039 7,376 269,415

Chicksand Citizens Forum Limited Notes to the Accounts for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Land and buildings No depreciation charge Equipment, fixtures and fittings 20% reducing balance

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Chicksand Citizens Forum Limited Notes to the Accounts for the year ended 31 March 2022

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2 Employees Average number of persons employed by the company 3 Tangible fixed assets Land and buildings £ Cost At 1 April 2021 178,596 Additions - At 31 March 2022 178,596 Depreciation At 1 April 2021 44,206 Charge for the year - At 31 March 2022 44,206 Net book value At 31 March 2022 134,390 At 31 March 2021 134,390 4 Debtors JRS Grant 5 Creditors: amounts falling due within one year Taxation and social security costs Other creditors	2022 Number 3 Equipment, fixtures and fittings £ 48,528 51,707 100,235 40,347 12,148 52,495 47,740 8,181 2022 £ - - 2022 £ 7,930 45,147 53,077	2021 Number 5 Total £ 227,124 51,707 278,831 84,553 12,148 96,701 182,130 142,571 2021 £ 2,859 2,859 2021 £ 6,722 42,024 48,746

Chicksand Citizens Forum Limited

Notes to the Accounts for the year ended 31 March 2022

6 Other information

Chicksand Citizens Forum Limited is a private company and registered charity which is incorporated in England. Its registered office is:

Unit 48, The Micro Business Park

46-50 Greatorex Street

London

E1 5NP

Chicksand Citizens Forum Limited Detailed Statement of Financial Activities for the year ended 31 March 2022

This schedule does not form part of the statutory accounts

Incoming resources Activities for generating funds Rental income and service charge JRS Grant Covid support grant Parking Interest receivable Total incoming resouces Resouce expended Administrative expenses Employee costs: Wages and salaries Pensions Premises costs: Rates Light and heat Cleaning General administrative expenses: Telephone and fax Bank charges Insurance Software Repairs and maintenance Depreciation Event expense Legal and professional costs: Accountancy fees Consultancy fees Advertising Other legal and professional Total resouce expended Net Income/ (expenditure)	2022 £ 169,511 9,059 - - 178,570 12 178,582 49,272 18 49,290 3,468 3,107 166 6,741 1,474 84 6,576 360 34,764 12,148 500 55,906 6,373 51,044 652 1,200 59,269 171,206 7,376	2021 £ 170,985 22,140 5,000 2,400 200,525 23 200,548 70,531 82 70,613 377 2,455 3,760 6,592 1,871 178 6,122 288 31,349 2,045 400 42,253 3,275 46,161 330 6,500 56,266 175,724 24,824