Company registration number: 04597226 Lambeth Somali Community Association Company limited by guarantee Unaudited financial statements 31 March 2025
Lambeth Somali Community Association Company limited by guarantee Contents Page Directors and other information Directors report Accountants report Statement of comprehensive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-10
Lambeth Somali Community Association Company limited by guarantee Directors and other infomiation Directors Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed on 27 November 2024) Secretary Miss Najma Ahmed Elmi Company number 04597226 Registered office Annex Building 13-15 Stockwell Road London SW9 9AU Business address Annex Building 13-15 Stockwell Road London SW9 9AU Accountants Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Bankers Barclays Bank PIC Clapham Common Branch PO Box No SW12 9YB Page 1
Lambeth Somali Community Association Company limited by guarantee Directors report Year ended 31st March 2025 The directors present their report and the unaudited financial statements of the company for the year ended 31 st March 2025. Directors The directors who served the company during the year were as follovds: Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed 27th November 2024) Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on by.. and signed on behalf of the board Mr Abdalla Idris Abdullahi Director Date: ....Q.p.l! Ll2 , Page 2
Lambeth Somali Community Association Company limited by guarantee Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements of Lambeth Somali Community Association Year ended 31st March 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lambeth Somali Community Association for the year ended 31st March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us. As a practising member fimi of the Institute of Chartered Accountants in England and Wales (ICAEWI, we are subject to its ethical and other professional requirements which are detailed at http:Ilwww.icaew.com lenlmemberslregulations-standards-and-guidancel. This report is made solely to the board of directors of Lambeth Somali Community Association. as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lambeth Somali Community Association and state those matters that we have agreed to stste to the board of directors of Lambeth Somali Community Association as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lambeth Somali Community Association and its board of directors as a body for our vrfork or for this report. It is your duty to ensure that Lambeth Somali Community Association has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lambeth Somali Community Association. You consider that Lambeth Somali Community Association is exempt from the statutory audit requirement for the year. We have not been instructed to cary out an audit or a review of the financial statements of Lambeth Somali Community Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and VR do not, therefore, express any opinion on the statutory financial statements. Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Date: .. ..o..%iJL(.I Page 3
Lambeth Somali Community Association Company limited by guarantee Statement of comprehensive income Year ended 31st March 2025 2025 2024 Note Incoming Resources Resources Expended 115,734 (77,322) 85,016 (53,845} Gross profit 38,412 31.171 Govemance Costs {17,758) (12,893) Operating Surplus 20,654 18,278 Surplus before taxation 20,654 18,278 Tax on surplus Surplus for the year 20,654 18,278 All the activities of the company are from continuing operations. The notes on pages 8 to 10 form part of these financial statements. Page 4
Lambeth Somali Community Association Company limited by guarantee Statement of financial position 31st March 2025 2025 2024 Note Fixed assets Tangible assets 4.291 5.233 4.291 5,233 Current assets Debtors Cash at bank and in hand 670 69,127 610 46,816 69,797 47,426 Creditors: amounts falling due within one year (5,450) (4,953) Net current assets 64,347 42,473 Total assets less current liabilities 68,638 47,706 Net assets 68,638 47,706 Capital and reserves Profit and loss account 68,638 47,706 Members funds 68,638 47,706 For the year ending 31 st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. The notes on pages 8 to 10 forni part of these financial statements. Page 5
Lambeth Somali Communty Association Company limited by guarantee Statement of financial position (continued) 31st March 2025 These financial statements were approved by the board of directors and authorised for issue on and are signed on behalf of the board by.. Mr Abdalla Idris Abdullahi Director Date:.... Company registration number: 04597226 The notes on pages 8 to 10 fomi part of these financial ststements. Page 6
Lambeth Somali Community Association Company limited by guarantee Statement of changes in equty Year ended 31st March 2025 Profit and loss account Total At 1st April 2023 29.428 29,428 Profit for the year 18,278 18,278 Total comprehensive income for the year 18,278 18,278 At 31st March 2024 (as previously reported) Prior period adjustments 47,706 278 47,706 278 At 31st March 2024 (restated) and 1st April 2024 47,984 47,984 Profit for the year 20,654 20,654 Total comprehensive income for the year 20,654 20,654 At 31st March 2025 68,638 68.638 Page 7
Lambeth Somali Community Association Company limited by guarantee Notes to the financial ststements Year ended 31st March 2025 General inforniation The company is a private company limited by guarantee, registered in England and Wales. The address of the registered Offi is Lambeth Somali Community Ass¢xiation, Annex Building, 13-15 Stockwell Road, London, SW9 9AU. Statement of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably,. it is probable that the associated economic benefits will flow to the entity. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Amortisation Amortisation is calculated so as to YKite off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows-. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amorbsation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at cost, and are subsequentiy stated at Cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follovts= Fittings fixtures and equipment 180/0 reducing balan If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectivety to reflect the new estimates. Page 8
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements Icontinued) Year ended 31st March 2025 Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such InditorS exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Incoming Resources Incoming Resources arises from: Period ended Period ended 2025 2024 Smallwood Trust Other donations and grants Guys & St Thomas Hospital Community Connections Walcot Foundation London Borough of Lambeth-Public Health Project London Community Capital Home London Borough of Lambeth-cost of Living Crisis UK Youth English Sports Council- Lottery Fund 8,563 420 12,470 6,696 25,000 5,000 19,625 6,400 19,500 4,000 8,060 6,707 10,888 18,000 26,221 4,000 15,200 4,000 115,734 85,016 The whole of the turnover is attributable to the principal activtty of the company wholly undertaken in the United Kingdom. Employee numbers The average number of persons employed by the company during the year amounted to 3 (2024.. 2). Page 9
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements (continued) Year ended 31st March 2025 Tangible assets Fixtures, fittings and equipment Total Cost At 1st April 2024 and 31st March 2025 10,963 10,963 Depreciation At 1 st April 2024 Charge for the year 5,730 942 5,730 942 At 31st March 2025 6,672 6,672 Carrying amount At 31st March 2025 4.291 4,291 At 31 st March 2024 5,233 5,233 Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Social security and other taxes Other creditors 781 296 4,373 1,041 486 3,426 5,450 4,953 Page 10
Lambeth Somali Community Association Company limited by guarantse The following pages do not fom part of the ststutory accounts.
Lambeth Somali Community Association Company limited by guarantee Statements of Financial Activities for the year ended 31st March 2025 2025 Notes Unrestricted Restricted Total Funds Funds Funds 2024 Total Funds Incoming Resources General Donations Community, Hospital & Trust grants Grants Received London Communityl Postcode Community Postcode Community Trust 38,120 38,120 27,729 30,000 19,885 25,248 27.729 30,000 19.885 33,200 26,221 Total Incoming Resources 38,120 77,614 115,734 85,016 Resources Expended Charitable Activities Education Project Fundraising Men's Project Postcode Communty Trust Women's Project Covid Relief Programme Community Events 38,152 38,152 1,670 21,093 1,020 4,381 2,124 10,260 1.670 2,966 11,876 2,966 11,876 22,658 22,658 14,967 Sub Total Governance Costs Rent Payable Rates Insurance Light and heat Office Cleaning Office repairs Printing, postage and stationery Advertising Telephone Computer costs Accountancy Fees Bookeeping Fees Staff welfare General expenses 5,100 130 479 2.088 2,790 60 152 1,500 1,357 924 1,740 351 336 49 5,100 130 479 2,088 2,790 60 152 1,500 1,357 924 1,500 351 336 49 1,026 647 158 2,204 2,150 178 240 1,800 1,159 60 1,620 350 94 58 Sub Total Page 12
Other resources expended 942 942 Total Resources Expended 25,270 70,050 95,320 66,738 Net Incoming Resources for the year 12,850 7,564 20.414 18,278 Prior Period Adjustment 278 278 Total funds brought forward (4.241) 51.947 47,706 29,428 Total funds carried forward 8,887 59,511 68,398 47,706 The statement of financial activities includes all gains and lossess in the year. All incoming resources and resources expended derive from continuing activities. Page 13
Company registration number: 04597226 Lambeth Somali Community Association Company limited by guarantee Unaudited financial statements 31 March 2025
Lambeth Somali Community Association Company limited by guarantee Contents Page Directors and other information Directors report Accountants report Statement of comprehensive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-10
Lambeth Somali Community Association Company limited by guarantee Directors and other infomiation Directors Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed on 27 November 2024) Secretary Miss Najma Ahmed Elmi Company number 04597226 Registered office Annex Building 13-15 Stockwell Road London SW9 9AU Business address Annex Building 13-15 Stockwell Road London SW9 9AU Accountants Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Bankers Barclays Bank PIC Clapham Common Branch PO Box No SW12 9YB Page 1
Lambeth Somali Community Association Company limited by guarantee Directors report Year ended 31st March 2025 The directors present their report and the unaudited financial statements of the company for the year ended 31 st March 2025. Directors The directors who served the company during the year were as follovds: Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed 27th November 2024) Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on by.. and signed on behalf of the board Mr Abdalla Idris Abdullahi Director Date: ....Q.p.l! Ll2 , Page 2
Lambeth Somali Community Association Company limited by guarantee Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements of Lambeth Somali Community Association Year ended 31st March 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lambeth Somali Community Association for the year ended 31st March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us. As a practising member fimi of the Institute of Chartered Accountants in England and Wales (ICAEWI, we are subject to its ethical and other professional requirements which are detailed at http:Ilwww.icaew.com lenlmemberslregulations-standards-and-guidancel. This report is made solely to the board of directors of Lambeth Somali Community Association. as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lambeth Somali Community Association and state those matters that we have agreed to stste to the board of directors of Lambeth Somali Community Association as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lambeth Somali Community Association and its board of directors as a body for our vrfork or for this report. It is your duty to ensure that Lambeth Somali Community Association has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lambeth Somali Community Association. You consider that Lambeth Somali Community Association is exempt from the statutory audit requirement for the year. We have not been instructed to cary out an audit or a review of the financial statements of Lambeth Somali Community Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and VR do not, therefore, express any opinion on the statutory financial statements. Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Date: .. ..o..%iJL(.I Page 3
Lambeth Somali Community Association Company limited by guarantee Statement of comprehensive income Year ended 31st March 2025 2025 2024 Note Incoming Resources Resources Expended 115,734 (77,322) 85,016 (53,845} Gross profit 38,412 31.171 Govemance Costs {17,758) (12,893) Operating Surplus 20,654 18,278 Surplus before taxation 20,654 18,278 Tax on surplus Surplus for the year 20,654 18,278 All the activities of the company are from continuing operations. The notes on pages 8 to 10 form part of these financial statements. Page 4
Lambeth Somali Community Association Company limited by guarantee Statement of financial position 31st March 2025 2025 2024 Note Fixed assets Tangible assets 4.291 5.233 4.291 5,233 Current assets Debtors Cash at bank and in hand 670 69,127 610 46,816 69,797 47,426 Creditors: amounts falling due within one year (5,450) (4,953) Net current assets 64,347 42,473 Total assets less current liabilities 68,638 47,706 Net assets 68,638 47,706 Capital and reserves Profit and loss account 68,638 47,706 Members funds 68,638 47,706 For the year ending 31 st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. The notes on pages 8 to 10 forni part of these financial statements. Page 5
Lambeth Somali Communty Association Company limited by guarantee Statement of financial position (continued) 31st March 2025 These financial statements were approved by the board of directors and authorised for issue on and are signed on behalf of the board by.. Mr Abdalla Idris Abdullahi Director Date:.... Company registration number: 04597226 The notes on pages 8 to 10 fomi part of these financial ststements. Page 6
Lambeth Somali Community Association Company limited by guarantee Statement of changes in equty Year ended 31st March 2025 Profit and loss account Total At 1st April 2023 29.428 29,428 Profit for the year 18,278 18,278 Total comprehensive income for the year 18,278 18,278 At 31st March 2024 (as previously reported) Prior period adjustments 47,706 278 47,706 278 At 31st March 2024 (restated) and 1st April 2024 47,984 47,984 Profit for the year 20,654 20,654 Total comprehensive income for the year 20,654 20,654 At 31st March 2025 68,638 68.638 Page 7
Lambeth Somali Community Association Company limited by guarantee Notes to the financial ststements Year ended 31st March 2025 General inforniation The company is a private company limited by guarantee, registered in England and Wales. The address of the registered Offi is Lambeth Somali Community Ass¢xiation, Annex Building, 13-15 Stockwell Road, London, SW9 9AU. Statement of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably,. it is probable that the associated economic benefits will flow to the entity. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Amortisation Amortisation is calculated so as to YKite off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows-. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amorbsation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at cost, and are subsequentiy stated at Cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follovts= Fittings fixtures and equipment 180/0 reducing balan If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectivety to reflect the new estimates. Page 8
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements Icontinued) Year ended 31st March 2025 Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such InditorS exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Incoming Resources Incoming Resources arises from: Period ended Period ended 2025 2024 Smallwood Trust Other donations and grants Guys & St Thomas Hospital Community Connections Walcot Foundation London Borough of Lambeth-Public Health Project London Community Capital Home London Borough of Lambeth-cost of Living Crisis UK Youth English Sports Council- Lottery Fund 8,563 420 12,470 6,696 25,000 5,000 19,625 6,400 19,500 4,000 8,060 6,707 10,888 18,000 26,221 4,000 15,200 4,000 115,734 85,016 The whole of the turnover is attributable to the principal activtty of the company wholly undertaken in the United Kingdom. Employee numbers The average number of persons employed by the company during the year amounted to 3 (2024.. 2). Page 9
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements (continued) Year ended 31st March 2025 Tangible assets Fixtures, fittings and equipment Total Cost At 1st April 2024 and 31st March 2025 10,963 10,963 Depreciation At 1 st April 2024 Charge for the year 5,730 942 5,730 942 At 31st March 2025 6,672 6,672 Carrying amount At 31st March 2025 4.291 4,291 At 31 st March 2024 5,233 5,233 Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Social security and other taxes Other creditors 781 296 4,373 1,041 486 3,426 5,450 4,953 Page 10
Lambeth Somali Community Association Company limited by guarantse The following pages do not fom part of the ststutory accounts.
Lambeth Somali Community Association Company limited by guarantee Statements of Financial Activities for the year ended 31st March 2025 2025 Notes Unrestricted Restricted Total Funds Funds Funds 2024 Total Funds Incoming Resources General Donations Community, Hospital & Trust grants Grants Received London Communityl Postcode Community Postcode Community Trust 38,120 38,120 27,729 30,000 19,885 25,248 27.729 30,000 19.885 33,200 26,221 Total Incoming Resources 38,120 77,614 115,734 85,016 Resources Expended Charitable Activities Education Project Fundraising Men's Project Postcode Communty Trust Women's Project Covid Relief Programme Community Events 38,152 38,152 1,670 21,093 1,020 4,381 2,124 10,260 1.670 2,966 11,876 2,966 11,876 22,658 22,658 14,967 Sub Total Governance Costs Rent Payable Rates Insurance Light and heat Office Cleaning Office repairs Printing, postage and stationery Advertising Telephone Computer costs Accountancy Fees Bookeeping Fees Staff welfare General expenses 5,100 130 479 2.088 2,790 60 152 1,500 1,357 924 1,740 351 336 49 5,100 130 479 2,088 2,790 60 152 1,500 1,357 924 1,500 351 336 49 1,026 647 158 2,204 2,150 178 240 1,800 1,159 60 1,620 350 94 58 Sub Total Page 12
Other resources expended 942 942 Total Resources Expended 25,270 70,050 95,320 66,738 Net Incoming Resources for the year 12,850 7,564 20.414 18,278 Prior Period Adjustment 278 278 Total funds brought forward (4.241) 51.947 47,706 29,428 Total funds carried forward 8,887 59,511 68,398 47,706 The statement of financial activities includes all gains and lossess in the year. All incoming resources and resources expended derive from continuing activities. Page 13
Company registration number: 04597226 Lambeth Somali Community Association Company limited by guarantee Unaudited financial statements 31 March 2025
Lambeth Somali Community Association Company limited by guarantee Contents Page Directors and other information Directors report Accountants report Statement of comprehensive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-10
Lambeth Somali Community Association Company limited by guarantee Directors and other infomiation Directors Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed on 27 November 2024) Secretary Miss Najma Ahmed Elmi Company number 04597226 Registered office Annex Building 13-15 Stockwell Road London SW9 9AU Business address Annex Building 13-15 Stockwell Road London SW9 9AU Accountants Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Bankers Barclays Bank PIC Clapham Common Branch PO Box No SW12 9YB Page 1
Lambeth Somali Community Association Company limited by guarantee Directors report Year ended 31st March 2025 The directors present their report and the unaudited financial statements of the company for the year ended 31 st March 2025. Directors The directors who served the company during the year were as follovds: Mr Abdalla Idris Abdullahi Mr Mohamud Mohamed Elmi Mr Abdullahi Abdi Ali Mr Abdirahman Mohamed Nur Mr Mohamed Ahmed Mr Mohamed Dahir Ismail (Resigned on 18 November 2024) (Appointed 27th November 2024) Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on by.. and signed on behalf of the board Mr Abdalla Idris Abdullahi Director Date: ....Q.p.l! Ll2 , Page 2
Lambeth Somali Community Association Company limited by guarantee Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements of Lambeth Somali Community Association Year ended 31st March 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lambeth Somali Community Association for the year ended 31st March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us. As a practising member fimi of the Institute of Chartered Accountants in England and Wales (ICAEWI, we are subject to its ethical and other professional requirements which are detailed at http:Ilwww.icaew.com lenlmemberslregulations-standards-and-guidancel. This report is made solely to the board of directors of Lambeth Somali Community Association. as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lambeth Somali Community Association and state those matters that we have agreed to stste to the board of directors of Lambeth Somali Community Association as a body, in this report in accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lambeth Somali Community Association and its board of directors as a body for our vrfork or for this report. It is your duty to ensure that Lambeth Somali Community Association has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lambeth Somali Community Association. You consider that Lambeth Somali Community Association is exempt from the statutory audit requirement for the year. We have not been instructed to cary out an audit or a review of the financial statements of Lambeth Somali Community Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and VR do not, therefore, express any opinion on the statutory financial statements. Zaidi and Co. Chartered Accountants 241 Mitcham Road London SW17 9JQ Date: .. ..o..%iJL(.I Page 3
Lambeth Somali Community Association Company limited by guarantee Statement of comprehensive income Year ended 31st March 2025 2025 2024 Note Incoming Resources Resources Expended 115,734 (77,322) 85,016 (53,845} Gross profit 38,412 31.171 Govemance Costs {17,758) (12,893) Operating Surplus 20,654 18,278 Surplus before taxation 20,654 18,278 Tax on surplus Surplus for the year 20,654 18,278 All the activities of the company are from continuing operations. The notes on pages 8 to 10 form part of these financial statements. Page 4
Lambeth Somali Community Association Company limited by guarantee Statement of financial position 31st March 2025 2025 2024 Note Fixed assets Tangible assets 4.291 5.233 4.291 5,233 Current assets Debtors Cash at bank and in hand 670 69,127 610 46,816 69,797 47,426 Creditors: amounts falling due within one year (5,450) (4,953) Net current assets 64,347 42,473 Total assets less current liabilities 68,638 47,706 Net assets 68,638 47,706 Capital and reserves Profit and loss account 68,638 47,706 Members funds 68,638 47,706 For the year ending 31 st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. The notes on pages 8 to 10 forni part of these financial statements. Page 5
Lambeth Somali Communty Association Company limited by guarantee Statement of financial position (continued) 31st March 2025 These financial statements were approved by the board of directors and authorised for issue on and are signed on behalf of the board by.. Mr Abdalla Idris Abdullahi Director Date:.... Company registration number: 04597226 The notes on pages 8 to 10 fomi part of these financial ststements. Page 6
Lambeth Somali Community Association Company limited by guarantee Statement of changes in equty Year ended 31st March 2025 Profit and loss account Total At 1st April 2023 29.428 29,428 Profit for the year 18,278 18,278 Total comprehensive income for the year 18,278 18,278 At 31st March 2024 (as previously reported) Prior period adjustments 47,706 278 47,706 278 At 31st March 2024 (restated) and 1st April 2024 47,984 47,984 Profit for the year 20,654 20,654 Total comprehensive income for the year 20,654 20,654 At 31st March 2025 68,638 68.638 Page 7
Lambeth Somali Community Association Company limited by guarantee Notes to the financial ststements Year ended 31st March 2025 General inforniation The company is a private company limited by guarantee, registered in England and Wales. The address of the registered Offi is Lambeth Somali Community Ass¢xiation, Annex Building, 13-15 Stockwell Road, London, SW9 9AU. Statement of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably,. it is probable that the associated economic benefits will flow to the entity. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Amortisation Amortisation is calculated so as to YKite off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows-. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amorbsation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are initially recorded at cost, and are subsequentiy stated at Cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follovts= Fittings fixtures and equipment 180/0 reducing balan If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectivety to reflect the new estimates. Page 8
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements Icontinued) Year ended 31st March 2025 Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such InditorS exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Incoming Resources Incoming Resources arises from: Period ended Period ended 2025 2024 Smallwood Trust Other donations and grants Guys & St Thomas Hospital Community Connections Walcot Foundation London Borough of Lambeth-Public Health Project London Community Capital Home London Borough of Lambeth-cost of Living Crisis UK Youth English Sports Council- Lottery Fund 8,563 420 12,470 6,696 25,000 5,000 19,625 6,400 19,500 4,000 8,060 6,707 10,888 18,000 26,221 4,000 15,200 4,000 115,734 85,016 The whole of the turnover is attributable to the principal activtty of the company wholly undertaken in the United Kingdom. Employee numbers The average number of persons employed by the company during the year amounted to 3 (2024.. 2). Page 9
Lambeth Somali Community Association Company limited by guarantee Notes to the financial statements (continued) Year ended 31st March 2025 Tangible assets Fixtures, fittings and equipment Total Cost At 1st April 2024 and 31st March 2025 10,963 10,963 Depreciation At 1 st April 2024 Charge for the year 5,730 942 5,730 942 At 31st March 2025 6,672 6,672 Carrying amount At 31st March 2025 4.291 4,291 At 31 st March 2024 5,233 5,233 Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Social security and other taxes Other creditors 781 296 4,373 1,041 486 3,426 5,450 4,953 Page 10
Lambeth Somali Community Association Company limited by guarantse The following pages do not fom part of the ststutory accounts.
Lambeth Somali Community Association Company limited by guarantee Statements of Financial Activities for the year ended 31st March 2025 2025 Notes Unrestricted Restricted Total Funds Funds Funds 2024 Total Funds Incoming Resources General Donations Community, Hospital & Trust grants Grants Received London Communityl Postcode Community Postcode Community Trust 38,120 38,120 27,729 30,000 19,885 25,248 27.729 30,000 19.885 33,200 26,221 Total Incoming Resources 38,120 77,614 115,734 85,016 Resources Expended Charitable Activities Education Project Fundraising Men's Project Postcode Communty Trust Women's Project Covid Relief Programme Community Events 38,152 38,152 1,670 21,093 1,020 4,381 2,124 10,260 1.670 2,966 11,876 2,966 11,876 22,658 22,658 14,967 Sub Total Governance Costs Rent Payable Rates Insurance Light and heat Office Cleaning Office repairs Printing, postage and stationery Advertising Telephone Computer costs Accountancy Fees Bookeeping Fees Staff welfare General expenses 5,100 130 479 2.088 2,790 60 152 1,500 1,357 924 1,740 351 336 49 5,100 130 479 2,088 2,790 60 152 1,500 1,357 924 1,500 351 336 49 1,026 647 158 2,204 2,150 178 240 1,800 1,159 60 1,620 350 94 58 Sub Total Page 12
Other resources expended 942 942 Total Resources Expended 25,270 70,050 95,320 66,738 Net Incoming Resources for the year 12,850 7,564 20.414 18,278 Prior Period Adjustment 278 278 Total funds brought forward (4.241) 51.947 47,706 29,428 Total funds carried forward 8,887 59,511 68,398 47,706 The statement of financial activities includes all gains and lossess in the year. All incoming resources and resources expended derive from continuing activities. Page 13