OpenCharities

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

← Ebenezer Community Learning Centre

2024-08-31-accounts

EBENEZER COMMUNITY COLLEGE LIMITED

Annual Report and Financial Statements for the year ended 31 AUGUST 2024

Charity registration number 1108579

CONTENTS

ORIGINS OF THE CHARITY............................................................................................ 1 STRUCTURE AND GOVERNANCE ................................................................................ 2 ACHIEVEMENTS AND PERFORMANCE ........................................................................ 3 FINANCIAL REVIEW ........................................................................................................ 4 TRUSTEE RESPONSIBILITIES ....................................................................................... 6 INDEPENDENT EXAMINER’S REPORT ......................................................................... 7 STATEMENT OF FINANCIAL ACTIVITIES ...................................................................... 8 BALANCE SHEET ............................................................................................................ 9 NOTES TO THE FINANCIAL STATEMENTS ................................................................ 10 REFERENCE AND ADMINISTRATION DETAILS ......................................................... 16

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

ORIGINS OF THE CHARITY

Ebenezer community college (ECC) began in 1991, Ebenezer which means “Stone of Help” was first known as Ebenezer Welfare Centre (EWC) and was established by members of the African community in response to the needs of asylum seekers and refugees in 1991. The charity was founded to be a safe haven and support for refugees, asylum seekers within the community.

In 2003, the centre moved with the changing times and re-registered a new name as Ebenezer Community Learning Centre providing education, training and support to vulnerable adults and disadvantaged communities living within and around Haringey (North London). Then in 2017 To reflect our change, partnerships and delivery of further and higher education/academic qualification registered to Ebenezer Community College.

Ebenezer Community College (ECC) is located in Seven Sisters, North London. The college was established in 2003 by the founder Mr Osei Kwateng. ECC has been through a journey of change and development over the years.

1

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

STRUCTURE AND GOVERNANCE

GOVERNING DOCUMENTS

The Trustee's present their annual report with the accounts of the charity for the year ended 31st AUGUST 2024

Appointment of Trustees

The appointment of trustees is governed by the Trust Deed of the charity.

The Board of Trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of any existing trustees.

Constitution, Objects and Policies

The principal activity of the College continues to be that of providing academic and vocational training and advice to local community adult learners primarily from Black and Minority Ethnic backgrounds, to help them towards enhanced employment and/or further and higher education opportunities. Ebenezer Community College (ECC) is an Adult Education charity that aims to support all learners towards personal and economic freedom through achievement of educational goals our learners gain enhanced confidence, mindset and skill that allow them to embrace new employment challenges and opportunities. Additionally, ECC partners with colleges to offer pathways to further and higher education.

Development, Activities and Achievement

The college continues to operate in a challenging environment. Despite, this student numbers at the college grew by 53% in the last period. This has had positive impacts on college finances shown by an improvement in the college balance sheet. Relationships with the college’s main contractors continue to develop facilitating the provision of complementary courses in Further and Higher Education. The college is optimistic for the next financial period due to the introduction of new courses and the addition of School of Teaching to the current Schools of Computing, Health and Business. Management are confident that this new Teaching course will provide significant growth to student numbers and revenue. The college remains on schedule with repayments of the CBILS loan.

Public benefit statement

The Trustee confirms that it has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Ebenezer Community College Ltd.’s aims and objectives and in planning future activities. The purposes of the charity are to advance the objectives of the Ebenezer College or any such objects for educational purposes connected with or related to said college.

Consequently, the Trustee considers that the ECC operates to benefit the general public and satisfies the public benefit test.

Approval

2

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

This report was approved by the trustees on 15/05/2025 and signed on their behalf.

3

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

ACHIEVEMENTS AND PERFORMANCE

The College continues to operate in a challenging environment. Despite this, student numbers grew by 61% over the period. This has positively impacted college finances, resulting in further strengthening of the balance sheet.

Relationships with the College’s main contractors have continued to develop, enabling the provision of complementary courses in Further and Higher Education. Management remains optimistic for the next financial year, buoyed by the expansion of the new School of Teaching, alongside existing Schools of Computing, Health, and Business.

This growth saw an increase in cohorts from 5 to 13. Student numbers similarly rose, with over 300 learners enrolled during the period. This growth was largely powered by strong recruitment into the new teacher training programmes.

However, it is important to note that this level of growth may not be sustainable in future periods. A change in funding arrangements for teacher training has been announced and is scheduled to commence from September 2024, which is expected to impact recruitment levels and financial projections.

ECC continues to engage with local employers to maintain it’s strong employability ethic and approach for its learners by proactively working with local businesses to secure placements for students.

The College is now well beyond the midway point in repaying the original £75,000 CBILS loan, reflecting strong financial management.

PUBLIC BENEFIT STATEMENT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing Ebenezer Community College Ltd’s aims and objectives and planning future activities.

Consequently, the Trustees consider that ECC continues to operate to benefit the general public and satisfies the public benefit test.

PLANS FOR FUTURE PERIODS

The Trustees do not consider there to be any material uncertainty regarding the College’s ability to continue as a going concern.

However, the Trustees recognise that a change in funding arrangements for teacher training, due to take effect from September 2024, may impact the College’s ability to sustain the strong cohort and student number growth achieved in 2023/24. Management is actively assessing the potential implications of these changes and is working to diversify the College’s funding streams and course offerings to mitigate the anticipated impact.

In the coming year, the College will focus on:

4

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

The Trustees are confident that, through proactive management and strategic planning, Ebenezer Community College will continue to deliver high-quality education and training opportunities to the communities it serves.

FINANCIAL REVIEW

The trustees consider the performance of the charity to be satisfactory. The charity's main source of funds continues to be subcontracted funding for training and skill acquisition. All funds are unrestricted and are used to meet expenditures. Surplus funds are held at bank and are used to meet unforeseen expenditure that may occur are prepared on accrual basis in accordance with Statement of Recommended Practice (SORPs) for further and higher education (FE / HE) and FRS102.

Overview of Financial Performance

Income

In 2023/24 the charity’s total income for the year was £574,830, an overall increase of £ 126,147 from the previous year (2022/23 : £448,683). The growth was primarily driven by increased student enrolments and the expansion of course offerings.

Expenditure

Total expenditure for the year was £544,515 (2022/23 : £362,548), comprising of direct cost, £271,653; (2022/23 : £118,331) and administrative cost £272,863 (2022/23 : £244,217).

Reserves policy

the trustees have agreed a formal policy on reserves

the Trustees of set a reserve policy which required that the reserves are maintained at a level which ensures that ECC core activity could continue during a period of unforeseen circumstance with a knock-on effect on liquidity.

The Trustees agreed that a general unrestricted reserve should be maintained with an objective to cover up to six months of the running costs of the charity to enable ECC to meet contingency situations and/or carry out discreet pieces of work that will help us meet our strategic business plans aims.

The Trustees reserves policy in accordance with the Charity Commission's guidelines is to maintain total free reserves, excluding the element which relates to tangible fixed assets, at a level which is no less than approximately four months of expenditure i.e.

5

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

£181,505 to provide the charity with some ability to cope with unforeseen interruptions in income flows. Based on 2023/24’s expenditures, the monthly costs amount to circa £ 45,376. The charity’s total free reserves, excluding tangible fixed asset, at 31st August 2024 amounted to £25,826 (2023; (£4,488). The trustees are taking steps to increase and maintain free reserves to the desired level.

Risk review

The Trustees continue to regularly review and assess the risks faced by the charity. Actions are taken to mitigate residual risks to levels deemed acceptable by the Trustees. Measures include:

Principal risks remain linked to funding uncertainties, especially concerning vocational qualification delivery and income diversification. ECC is proactively working to secure new funding streams and strategic partnerships to mitigate these risks.

Monitoring of the financial and operational strategy implementation is undertaken via the risk register, reviewed and updated at every Board meeting.

6

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

TRUSTEE RESPONSIBILITIES

The Trustee is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustee to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law, the Trustee must not approve the financial statements unless the Trustee is satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustee to ensure that the financial statements comply with the Charities Act 2011. The Trustee is 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.

In so far as the Trustee is aware:

Financial statements are published on the Trustee’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Trustee’s website is the responsibility of the Trustee. The Trustee’s responsibility also extends to the ongoing integrity of the financial statements contained therein.

Adopted and signed for on behalf of the Trustees.

tt Chairman of Trustees ECC Ebenezer house, London, N15 5NH

Date: 15/05/2025

7

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEE OF EBENEZER COMMUNITY COLLEGE LIMITED

I report to the to the trustees on my examination of the accounts of the Ebenezer Community College [the charity], charity number 1108579 for the year ended the 31st August 2024, which are set out on page 8 to 14.

Respective responsibility of trustees an examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the charities Act 2011 (‘the Act’).

The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

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 the comparison of the accounts presented with these records. It also includes considerations of any unusual items or disclosures in the account and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the account present a true and fair view and the report is limited to those matters set out below.

Independent examiner’s statement

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I'm a member of the Association of Chartered Certified Accountants (ACCA) which is one of the listed bodies.

In connection with my examination, no materials matters have come to my attention which gives me cause to believe, that in any material respect:

I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Atim D Channa, ( FCCA) Sino UK Bridge Consulting Ltd 9 Dell Close, London, E15 3NU

8

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2024

SOFA Notes General Fund Designated Funds Restricted Funds 2024 2023
INCOME
2
Tuition Fee
Refund
OLC
SFA/EFA
CTG
DBS
Income from Rent
Commission
Training
Others
Total
EXPENDITURE
3
Charitable Activities:
Direct Charity Expenses
Administration Expenses
TOTAL EXPENDITURE
Net Income/(Deficit)
Transfers between funds
Total transfers and gains
Net movement in funds
Balance B/F
Balance C/F at 31st August		 9,067
0
0
9,067
6,900
2,782
0
0
2,782
(810)
536,356
0
0
536,356
354,967
2,826
0
0
2,826
0
0
0
0
0
64,765
6,380
0
0
6,380
4,410
0
0
0
0
0
16,969
0
0
16,969
13,400
0
0
0
0
0
450
0
0
450
5,051
574,830
0
0
574,830
448,683
271,653
0
0
271,653
118,331
272,863
0
0
272,863
244,217
544,515
0
0
544,515
362,548
30,315
0
0
30,315
86,135
0
0
0
0
0
0
0
0
0
0
30,315
0
0
30,315
86,135
5,923
0
0
5,923
(80,212)
36,238
0
0
36,238
5,923

The above results were derived from continuing activities.

There were no other recognised gains and losses other than those shown above.

The Notes on pages 10 to 14 form part of these financial statements.

BALANCE SHEET

AS AT 31 AUGUST 2024

9

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

2024 2023
Total Total
Note £ £ £
Fixed Assets:
Tangible Fixed Assets 4 10,412 10,411
Current Assets:-
Debtors 5 108,410 94,470
Bank & Cash in Hand 6 11,225 2,844
Total Current Assets 119,635 97,314
Creditors :amounts falling due within one year 7 (64,207) (51,632)
Net Current Assets 55,427 45,682
Creditors :amounts falling due more than one year (29,601) (50,170)
Net Assets 36,238 5,923
FUNDS
Unrestricted Funds 36,238 5,923
Unrestricted Funds B/FWED - -
Total Funds 36,238 5,923

The notes on pages 10 to 14 form part of these financial statements

Approved and signed on behalf of the Trustee.

Mr Ernest Kwateng

Director, ECC

Date: 15/05/2025

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

10

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

The following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial statements of the charity.

(a) Basis of preparation

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to further education (FE) and higher education (HE) preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and the Charities Act 2011.

(b) Going concern

The financial statements have been prepared on a going concern basis as the Trustee considers that there are no material uncertainties about the charity’s ability to continue as a going concern.

In making this assessment, the Trustee has considered the current high inflationary pressures on future income levels, expenditure requirements and the liquidity of the charity over the 12 months period from the date of the signed accounts. It has not identified any indication that the charity will not be able to meet liabilities, including planned commitments, as they fall due. For this reason, the Trustee continues to adopt a going concern basis for the preparation of the financial statements.

(c) Key management judgements and assumptions

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenditure. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of decisions about carrying values of assets and liabilities that are not readily apparent from other sources. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Management do not consider there to be any material estimates or revisions requiring disclosure.

(d) Statement of Cash Flows

As per section 14.1 of the Charities SORP the Charity is not required to produce a statement of cash flows on the grounds that it is a small entity.

11

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

(e) Income

All income is included in the Statements of Financial Activities (SOFA) when the charity is legally entitled to the income; it is more likely than not that economic benefit associated with the transaction will come to the charity and the amount can be quantified with reasonable certainty.

(f) Expenditure

Expenditure is accounted for on an accruals basis and has been classified under the principal category of ‘expenditure on charitable activities’. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

(g) Taxation

The charity meets the definition of a charitable trust for UK income tax purposes, as set out in Paragraph 1 Schedule 6 of the Finance Act 2010. Accordingly, the charity is exempt from UK taxation in respect of income or capital gains under part 10 of the Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(h) Insurance

The charity, elected Members and staffs are covered by insurance liability policies, including ECC’s indemnity insurance.

2. ANALYSIS OF INCOME

Tuition Fee
Tuition Fee Refund
OLC
SFA/EFA
CTG
DBS
Income from Rent
Commission
Training
Other trading Income
Total		 2024
2023
Unrestricted Restricte
£
£
9,067
9,067
6,900
2,782
2,782
(810)
536,356
536,356
354,967
2,826
2,826
0
0
0
64,765
6,380
6,380
4,410
0
0
0
16,969
16,969
13,400
0
0
0
450
450
5,051
574,830
0
574,830
0
448,683

12

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

3.
EXPENDITURE ON CHARITABLE		 ACTIVITIES
2024 2023
DIRECT EXPENDITURE: £ £
Agents Comission 88,749 19,550
Accreditation & Approval 0 13,722
Volunteers Expenses & allawances 0 710
Tutors Salaries 171,283 72,844
Assessors Salaries 2,621 11,505
Total 262,653 118,331
MANAGEMENT & ADMIN:
Inter Account movement 0
Refund Received (Sales Returns and Allowances) 9,000 0
Admin Staff Salaries 26,561 33,862
Management Salaries 57,366 67,553
HMRC 12,575 4,500
Pension cost 310 0
Rent 49,146 45,372
Rates 6,413 5,565
Light & Heat 27,299 8,419
Water Bill 4,000 0
Building Maintenance 314 8,053
Office & Computer expenses 11,985 959
Insurance 2,664 11,315
Legal Fees 0 1,488
Health & Safety 0 580
Entertainment 1,131 0
Postage, Printing & Stationery 704 963
Advertising & Promotion 10,925 1,086
Telephone & Broadband 6,041 3,682
Sundry Expenses 1,049 15,376
DBS 4,484 3,356
Cleaning 12,428 0
Professional Fees 17,091 12,601
Accountancy Fee 1,500 1,500
Consultancy 10,438 0
Travel & Hotel Exps 989 2,563
Training 1,619 6,146
subscription fee 1,359 0
Interest Paid 317 1,212
Bank Charges 4,154 3,495
Depreciation 0 4,356
281,863 244,001

13

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

INDEPENDENT EXAMINER’S REMUNERATION

In 2023/24 an independent examination fee of £1,500 was recharged (2022/23 : £1500). No other services were provided to the charity by its independent examiners during the year (2022/23 : £nil).

TRUSTEE EXPENSES

The Trustee of ECC did not receive any remuneration or reimbursement of expenses during 2023/24 (2022/23 : nil).

4.1. CREDITORS – Amounts due within one year

Trade Creditors
(OLC)
Accrued Payroll Cost
Deferred income
Others
Total		 2024
2023
£
£
0
0
(64,207)
(51,632)
0
0
0
0
(64,207)
(51,632)

4.2. CREDITORS – Amounts due after more than one year

Bank Loan (SBIL)
Total		 2024
2023
£
£
29,601
50,170
29,601
50,170

14

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

5. ANALYSIS OF NET ASSETS BY FUND

At 31 August 2024
Fixed Assets
Investment
Current Assets
Creditors
Total
At 31 August 2023
Fixed Assets
Investment
Current Assets
Creditors
Total		 Unrestrict
ed funds
Restricte
d funds
Total at
31st
August
2024
£
£
£
10,412
10,412
0
0
0
119,635
0
119,635
(93,809)
0
(93,809)
36,238
0
36,238
Unrestrict
ed funds
Restricte
d funds
Total at
31st
August
2023
£
£
£
10,411
10,411
0
0
0
97,314
0
97,314
(101,802)
0 (101,802)
5,923
0
5,923

6. MOVEMENT IN FUNDS

Gains &
2023 Income Expenditu (Losses) 2024
£ £ £ £ £
Endowment funds: 0 0 0 0 0
Unrestricted Funds 5,923 574,830 (544,515) 0 36,238
Restricted 0 0 0 0 0
Total funds 5,923 **574,830 ** (544,515) 0 36,238

Purpose of unrestricted funds

15

Ebenezer community college (ECC) | Annual Report and Financial Statements 2023/24

The general fund comprises the accumulation of income surpluses because of surplus Revenue income after grants are charged to this fund. Any undistributed annual income is held for use in future years in accordance with the objectives of the trust.

REFERENCE AND ADMINISTRATION DETAILS

CHARITY NAME: ECC

Registered charity number: 1108579

OFFICE OF THE CHARITY:

Ebenezer House, 726-728 Seven Sisters Road, N15 5NH

TRUSTEES:

SENIOR MANAGEMENT:

Director

Ernest O Kwateng of Ebenezer Community College

INDEPENDENT EXAMINERS:

Atim D Channa Sino UK Bridge, 9 Dell Close E15 3NU

BANKERS:

HSBC Bank Plc., P.O. 131, 1 The Town, Enfield, London, EN2 6LD

16