BROMLEY BY BOW BANGLADESHI FORUM Charity Registration Number: 1111302
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
REPORTING ACCOUNTANTS:
AM ACCOUNTANCY SERVICES
43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111
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BROMLEY BY BOW BANGLADESHI FORUM FOR THE YEAR ENDED 31 DECEMBER 2021
| CONTENTS | Pages | |
|---|---|---|
| Information of financial Statements | : | 3 |
| Report of the Executive Committee | : | 4 |
| Statement of responsibilities of the | Committee: | 5 -6. |
| Independent Examiner's Report | : | 7 |
| Income and Expenditure Accounts | : | 8 |
| Statement of Assets and Liabilities | : | 10 |
| Notes to the Accounts | 11 -12. |
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BROMLEY BY BOW BANGLADESHI FORUM FOR THE YEAR ENDED 31 DECEMBER 2021
MANAGEMENT COMMITTEE
CHAIR PERSON Mr Faruk Miah GENERAL SECRETARY Mr Wakibur Rahman TREASURER Mr ILAS Mohammed ADDRESS Ground Floor Devon Tenants Hall Powis Road London E3 3NL
BANKER Barclays Bank Plc
INDEPENDENT EXAMINER
AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA TEL: 020 7790 6111
Charity's Trustees:
Mr Faruk Miah Mr Wakibur Rahman Mr ILAS Mohammed Mr Abdul Hamid Mr Khales Uddin
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REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021
BROMLEY BY BOW BANGLADESHI FORUM
The trustees present their report and financial statements for the year ended 31 December 2021.
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005 in preparing the annual report and financial statements of the Charity.
Legal Status:
Charity: Registered with the Charity Commission, Charity Number: 1111302
Objects, Principal Activities and Organisation of the Charity
The Charity's objects are for the benefit of the inhabitants of London Borough of Tower Hamlets, and in particular members of the Muslim Minority Ethnic Communities but exclusively who are in hardship by:
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a) To advance the Islamic religion and Bengali Language. To advancement of education of general public in the many facts of Islamic faith and culture.
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b) To help create a moral and just community.
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c) To organise classes for language and religious.
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d) To organise classes for language and religious studies for Bengali and Muslim Students.
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BROMLEY BY BOW BANGLADESHI FORUM
REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2021
Organisation:
A Management Committee, the members of which are the trustees manages the affairs of the charity The Management Committee manages the business of the charity including the paying of all expenses
Trustees:
Trustees, who are all members of the executive committee, and who served during the year are set out on page 3.
The trustees are elected at the Annual General Meeting, for membership of the Executive Committee and serve until the end of the next Annual General Meeting, where they can stand for re- election as members of the new Executive Committee.
Trustees responsibilities in relation to the financial statements
The committee or Trustees are required by charity's law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the Trustees are required to:
The Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and accounting estimates that are reasonable and prudent;
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Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011.
The Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are 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
VOLUNTEERS:
The Trustees wish to record their appreciation on behalf of the Charity and community for the volunteers who . assist in the smooth running of the Charity and are critical in helping to keeps the running costs down
RISK REVIEW:
The Trustees have conducted their own review of the major risks to which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review resulting in a process of ongoing improvement.
All staff and volunteers are trained and have all the required statutory and regulatory clearances required.
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REPORT OF THE EXECUTIVE COMMITTEE
FOR THE YEAR ENDED 31 DECEMBER 2021
BROMLEY BY BOW BANGLADESHI FORUM
SERIOUS INCIDENTS AND EXCEPTIONS:
The Trustees are pleased to note, that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity’s Exceptions’ Register.
RELATED PARTY TRANSACTIONS:
During the year the Charity was under the control of Trustees and Management Committee members as listed above. This report, which has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.
No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
Reserve Policy
It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to its expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. They will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The Centre will actively work to achieve this level of reserves.
INDEPENDENT EXAMINER
According to the provisions of the Charities Act 2008 and updated 2011, the Committee has agreed that and audit is not required for this financial year. However due to provisions of the same act an independent examiner is required and AM Accountancy Services appointed as external Accountant or Independent Examiner.
Transaction and financial position
The Statement of Financial Activities shows net deficit for the year of £15,596.00 and our accumulated funds stand at £86,605.00 in total.
AM Accountancy Services carried out an independent examination of the accounts included in the report.
This report, which has been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in 2005.
Approved by the trustees and signed on its behalf by
This report was approved by the Executive Committee on and signed on their behalf.
……………………… Mr Faruk Miah (Chairman) Date:
………………………….. Mr Wakibur Rahman (General Secretary) Date:
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Accountants’ Report
To the Trustees of BROMLEY BY BOW BANGLADESHI FORUM
FOR THE YEAR ENDED 31 DECEMBER 2021
We report on the accounts for the year ended 31 December 2021 set out on pages 8 to 12 which have been prepared under the historical cost convention and the accounting policies set out in note 1 to the financial statements.
Respective Responsibilities of Trustees and Accountants
As described on page 5 the trustees are responsible for the preparation of the financial statements, and they consider that the trust is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion to you.
Basis of Opinion
We conducted our work in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the charity, and making such limited enquiries of the trustees and officers as we considered necessary for the purpose of this report. These procedures provide only the assurance expressed in our opinion.
Opinion
In our opinion:
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(a) The accounts are in agreement with the accounting records kept by the charity under the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities;
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(b) Having regard only to, and on the basis of, the information contained in those accounts:
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(1) The accounts have been drawn up in a manner consistent with the accounting requirements specified the Statement of Recommended Practice – Accounting and Reporting by Charities, and
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(2) The charity satisfied the conditions for the exemption from an audit of the accounts for the year specified in the Charities Act.
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(3) This unaudited Account we have prepared in accordance with the figure, information and explanation we have received from the management of the current committee.
AM ACCOUNTANCY SERVICES 43 BEN JONSON ROAD LONDON E1 4SA
Date:
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BROMLEY BY BOW BANGLADESHI FORUM Statement of Financial Activities (Income & Expense Statement)
FOR THE YEAR ENDED 31 DECEMBER 2021
----- Start of picture text -----
2021 2020
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Voluntary income:
Friday Collections 47,233 47,233 26,494
General Collection - Boxes 0
Eid Collection 4,050 4,050 1,575
Other Donations & Contribution 891 891 1,000
Students collection (Parents Contribution) 12,115 12,115 11,910
Membership Fees 1,320 1,320 1,320
Other Income:
Donations Via Gift Aid & Just Giving
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Total Incoming Resources 65,609 65,609 42,299
Resources Expended
Direct Charitable Expenditure
Printing, postage, stationery & Advetisement 0 0 38
Telephone, fax and photocopies
Rent, Rates and service charges 6,000 6,000 6,000
Light, Heat and Water 3,609 3,609 5,938
Cleaning 0 0 140
Wages and Freelance Costs 20,209 20,209 24,749
Maktab Wages and Freelance Costs 14,490 14,490 11,814
Events and activities (Project Costs)
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Direct charitable expenditure 44,308 44,308 48,679
Management & Administration Expenses:
Accountancy 400 400 400
Advertising and promotion 750 750 750
Bank charges
Insurance
Legal & Professional Costs 0 0 225
Depreciation 4,555 4,555 5,359
Sundry
Repairs 0 0 544
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Management & Administration Expenses: 5,705 5,705 7,278
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Total Resources Expended 50,013 50,013 55,957
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Net Incoming Resources / 15,596 15,596 -13,658
(resources expended)
Net Movement funds for the 15,596 - 15,596 -13,658
period:
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Total Funds Brought forward 71,009 71,009 84,667
Balance at 31 December 2021 86,605 - 86,605 71,009
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BROMLEY BY BOW BANGLADESHI FORUM
Summary Income and Expenditure Account FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Income Total expenditure Net Surplus (Deficit) for the financial year |
2021 £ 65,609 50,013 15,596 |
|---|---|
There were no recognised gains other than those included in the Income and Expenditure Account for current year.
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BROMLEY BY BOW BANGLADESHI FORUM
Statement of Assets & Liabilities ( Balance Sheet)
As at 31 December 2021
| NOTE Fixed Assets Fixture, Fittings and Equipments 2 Current Assets Cash at Bank & in Hand Current Liabilities Amount falling due to one year Accruals 4 NET CURRENT ASSETS / (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS: Brought Forward 5 Excess/(Deficit) of income over expenditure Total Funds |
£ £ 25,812 25,812 73,193 73,193 12,400 60,793 86,605 71,009 15,596 86,605 2021 |
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The financial statements were approved by the Executive Committee and signed on their behalf:
………………………….. ………………………….. …………………………… Mr Faruk Miah Mr Wakibur Rahman Mr ILAS Mohammed (Chairperson) (General Secretary) (Treasurer) Date: Date: Date:
The Notes on pages 10 to 12 form part of the financial statements.
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BROMLEY BY BOW BANGLADESHI FORUM FOR THE YEAR ENDED 31 DECEMBER 2021 NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
a. Basis of Accounting
Basis of accounting The Financial Statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets and investments measured at market value.
The Financial Statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), and the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).
b. Grants
Revenue grants are credited to the Income and Expenditure account on a receivable basis.
c. Donations
Donation are recorded on a receipt basis.
d. Incoming Resources
Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.
e. Resources Expended
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
f. Going Concern Basis
The financial statements have been prepared on the going concern basis, as in the opinion of the trustees, there are no issues arising which would suggest any other basis as being more appropriate.
g. Administration Costs
Administration expenditure includes all expenditure not directly related to the charitable activity.
h. Taxation
As a charity, they are exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
i. Depreciation:
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixture, Fitting and Equipment:
15 % on Reducing Balance method
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BROMLEY BY BOW BANGLADESHI FORUM
FOR THE YEAR ENDED 31 DECEMBER 2021
NOTES TO THE ACCOUNTS
2. FIXED ASSETS
COST At 01 January 2021 Fixtures and fittings Addition At 31 December 2021 DEPRECIATION At 01 January 2021 Charge for the year At 31 December 2021 NET BOOK VALUE At 01 January 2021 At 31 December 2021 |
Total £ £ £ 16,359 14,008 30,367 - - - - 16,359 14,008 30,367 2,454 2,101 4,555 2,454 2,101 4,555 16,359 14,008 30,367 13,905 11,907 25,812 Fixtures, fittings & Improvements Building and Construction |
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3. Net Surplus of the Financial Year
The excess of expenditure over income is stated after charging:
| Accountants' remuneration Depreciation |
2021 £ 400 4,555 |
|
|---|---|---|
4. Creditors and Acruals
| Accountancy Rent 5. Funds/Capital Balance at 31 December 2020 Balance at 01 January 2021 Excess/ (Deficit) of Income over Expenditure Balance at 31 December 2021 |
400 12,000 12,400 2021 £ 71,009 71,009 15,596 86,605 |
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