I SERVE LIMITED
FINANCIAL STATEMENT
31[st] AUGUST 2021
Company Registration No. 04860134
DC Accountancy Services Financial and Management Accountants & IT Consultants Tottenham Town Hall, Unit 4, Ground Floor, Town Hall Approach Road Tottenham, London N15 4RY
TRUSTEE ANNUAL REPORT AND ACCOUNTS 2021
I SERVE
CROWN HOUSE BUSINESS CENTRE NORTH CIRCULAR ROAD NW10 7PN
TRUSTEE ANNUAL REPORT AND ACCOUNTS 2021
Annual Report & Financial Statements
Trustees Report
Objectives
To relieve poverty and distress, preserve and protect good health, and advance the education and employment of BME communities in the United Kingdom. We provide advice, information, and assistance to empower local people, improve lives, and help them overcome barriers to independent learning, employment, and preventing homelessness, particularly among BME communities, including refugees and asylum seekers.
Trustees' Report for the year ended 31 Aug 2021
Introduction This report covers the activities and service provision of I Serve for the year ending August 2021. It includes summaries of services provided, with statistics to illustrate our achievements. This year has been marked by development and change, as we have continued to build on our existing good work.
Structure, Governance, and Management
Legal Structure Established in 2003, I Serve operates as a registered Charity (No. 1110682).
Organisational Structure The board of trustees is composed of a minimum of five trustees, with no upper limit. The board meets regularly to discuss development, finance, and effective operations and project delivery. Trustees are responsible for policy formulation, legal compliance, and pursuing the charity's objectives.
Induction and Training of Trustees New trustees are briefed on their legal obligations under charity law, the governing document, the committee and decision-making process, the business plan, and recent financial performance. They receive publications from the Charity Commission, including guidance on charities and public benefit. Trustees are committed to staying informed about developments in charity governance under the Charities Act.
Trustees’ Responsibilities Trustees are tasked with identifying and reviewing risks to which the charity is exposed and ensuring appropriate controls are in place to provide reasonable assurance against fraud and errors. They oversee the preparation of financial statements and select suitable accounting policies.
Volunteers The charity relies heavily on the voluntary work of trustees and other volunteers for administering funds and community work. This volunteer work, while invaluable, is not reflected in the financial statements.
Financial Review
Reserves Policy The charity currently operates with minimal reserves. The trustees aim to build up the donor base to maintain reserves equivalent to three months' operating expenditure, excluding grant-funded project expenditures.
Principal Funding Sources The charity's primary income sources are donations and grants, including funding from the European Union, British Council, and Ecorys.
Core Values
-
Impartiality: Decisions are based on objective criteria, free from bias, tribalism, prejudice, or preferences.
-
Credibility: We earn respect and trust through programs with tangible outcomes, sharing lessons learned and achievements.
-
Transparency: We ensure timely and reliable disclosure of our financial performance.
-
Commitment: We are committed to long-term efforts to resolve tribal conflicts and social inequality and promote tolerant and inclusive societies.
Strategic Priorities 2020-23
-
Encouraging Dialogue: Creating spaces for dialogue to build cohesive and harmonious societies by connecting people from different clans, tribes, and nations affected by tribal conflicts.
-
Fostering Tolerance: Organizing seminars, reconciliation conferences, trainings, and events to challenge hate speech, recognize racism and radicalization, and promote understanding and tolerance.
-
Young Influencers: Training 80 young leaders over two years to become role models and influence positive community changes.
-
Advocacy: Initiating campaigns to advocate for marginalized communities, formulating recommendations for stakeholders, and working with affected communities.
-
Mental Health Program: Providing knowledge and skills to young workers to support multidisciplinary teams and non-formal education practices in mental health.
-
Research: Collaborating with academics and universities to identify the root causes of poverty and developing publications to better serve communities and address tribal differences.
Achievements 2020/2021
-
Employment Program: Over 200 individuals aged 16-30 participated, developing interpersonal, practical, and life skills, enhancing their visibility within the community, and raising awareness of mental health maintenance.
-
Mental Health Program: Supporting young workers to work in multidisciplinary teams with health professionals.
-
Housing Related Support: Prevented hospital admissions, prolonged lives, signposted to specialist services, and offered hope to those with nowhere else to turn.
-
• Tolerance Program: Encouraged tolerance among young people, helping over 80 participants understand intolerance, labeling of migrants, refugees, and marginalized groups.
I SERVE LIMITED FINANCIAL STATEMENTS YEAR ENDED 31st AUGUST 2021 CONTENTS
| CONTENTS | PAGE |
|---|---|
| The directors' report | 3 |
| Profit and loss account | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 7 |
The following pages do not form part of the financial statements
| Accountants' report to the directors | 9 |
|---|---|
| Detailed profit and loss account | 10 |
2
I SERVE LIMITED FINANCIAL STATEMENTS THE DIRECTORS’ REPORT YEAR ENDED 31st AUGUST 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31[st] August 2021.
PRINCIPAL ACTIVITIES
The principal activity of the company to provide information and advice to the Somalian associates.
THE DIRECTORS AND THEIR INTERESTS IN SHARES OF THE COMPANY
The directors who served the company during the year together with their beneficial interests in the shares of the company were as follows:
The Directors Appointed
Mr Rashid Abdilaziz 25/09/08
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the special provisions for small companies under Part VII of the Companies Act 1985.
Registered Office 1 Olympic Way Wembley Middlesex HA9 0NP
Mr Rashid Abdilaziz
Signed by Order of the Directors
Approved by the directors on / / 2021
3
I SERVE LIMITED FINANCIAL STATEMENTS PROFIT AND LOSS ACCOUNT YEAR ENDED 31st AUGUST 2021
TURNOVER
| 2021 | |
|---|---|
| Income | 113,602 |
| GROSS PROFIT | 113,602 |
| Overheads | (136,807) |
| Net profit (loss) before tax | (23,205) |
| Tax on profit/(loss) on ordinary activities | 0 |
| RETAINED PROFIT/(LOSS) FOR THE FINANCIAL YEAR | (23,205) |
| Balance brought forward | 63,711 |
| Balance carried forward | 40,506 |
None of the company's activities were acquired or discontinued during the above financial year.
The Company has no recognised gains or losses other than the results for the year as set out above.
4
I SERVE LIMITED
FINANCIAL STATEMENT YEAR ENDED 31st AUGUST 2021 BALANCE SHEET
| Notes 2021 FIXED ASSETS Tangible Assets 17,497 CURRENT ASSETS Debtors 6 12,755 Bank and Cash 10,254 Total 23,009 CREDITORS: Amounts falling due Current Assets Less Current Liabilities 23,009 Total Assets Less Total Liabilities 40,506 CAPITAL AND RESERVES Profit and Loss Account 40,506 Shareholders fund 40,506 |
Notes 2021 FIXED ASSETS Tangible Assets 17,497 CURRENT ASSETS Debtors 6 12,755 Bank and Cash 10,254 Total 23,009 CREDITORS: Amounts falling due Current Assets Less Current Liabilities 23,009 Total Assets Less Total Liabilities 40,506 CAPITAL AND RESERVES Profit and Loss Account 40,506 Shareholders fund 40,506 |
Notes 2021 FIXED ASSETS Tangible Assets 17,497 CURRENT ASSETS Debtors 6 12,755 Bank and Cash 10,254 Total 23,009 CREDITORS: Amounts falling due Current Assets Less Current Liabilities 23,009 Total Assets Less Total Liabilities 40,506 CAPITAL AND RESERVES Profit and Loss Account 40,506 Shareholders fund 40,506 |
|---|---|---|
| 40,506 | ||
| 40,506 | ||
| 40,506 |
For the year ending of 31st AUGUST 2021 the company was entitled to exemption from under Section 477 of the Companies Act 2006 relating to small companies.
Director’s responsibilities:
-
(I) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476.
-
(II) 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.
These financial statements were approved by the directors on the. ----/----/ 2021 and are signed on their behalf by:
(Company Secretary)
Mr Rashid Abdilaziz
5