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2023-03-31-accounts

Interfaith Wolverhampton

Annual Report for Year Ending March 31[st] 2023

Trustees’ Report

Financial Statements

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Annual report 2023 Trustees and FinanceV25a

Interfaith Wolverhampton

Trustee’s report for the year ended 31 March 2023

The trustees of Interfaith Wolverhampton (IfW) present their report, which is also the Company’s Directors Report, and financial statements for the year ending 31 March 2023.

IFW is a registered charity (1114265) incorporated as a company limited by guarantee (3218967)

The registered office is based at: WVSC Building, 16 Temple Street, Wolverhampton, WV2 4AN.

Principal Bankers: Cooperative Bank Independent Examiner: Ian Gregory, Daw White Murrall

Officers and Directors of the Company

The following were the Honorary Officers of the Charity at 31 March 2023 President The Rt Revd Clive Gregory, Bishop of Wolverhampton Vice Presidents Harun Rashid

Parveen Brigue

The following were the Trustees (known as Directors) of the Charity during the year to 31 March 2023:

Management Board – listed as Directors in Companies House record:

Post Name
Chair Cllr Jasbinder Dehar
Vice Chair - Communications Dr Yusuf Shafi*
Vice Chair - Membership Jill Parker MBE JP
Vice Chair - Events Dr Basma Ikram
Secretary Rev Ben Whitmore
DeputySecretary Dr Hakeem Bakare
Treasurer Martin Gomberg
DeputyTreasurer Deacon Linda Gilson

*Resigned 1 November 2022

Consultative Board – appointed by the Management Board to support and advise on its activities:

Consultative Board
Khalid Akhtar Rev Rachel Parkinson
Jaswinder Singh Chagger Stephen Petter
Ganesh De Satya Pal Sharma
Bhajan Devsi Mazir Uddin
Rajesh Jain Rev David Wright

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The Charity’s Objectives:

As set out in the Articles of Association, are specifically restricted to the following:

ii. supporting specific projects that are of benefit to the community helping people to take a full role in and participate more fully in society.

iii. The promotion of sustainable development for the benefit of the public by increasing awareness and knowledge in the area of energy conservation and the protection of the environment through prudent use of natural resources there by assisting in the relief of poverty and the improvement of the condition of life in socially and economically disadvantaged communities.

Performance and Achievement 2022 to 2023

Interfaith Wolverhampton aims to work with the diverse communities living in and around Wolverhampton in order to foster and nurture mutual understanding and appreciation between the different faiths. It seeks to arrange, encourage and support dialogue between those of different faiths and no faith, communities and agencies so as to contribute to an inclusive environment of mutual respect and harmony.

Bring and Share : We continue to hold Bring and Share as Virtual events on the 3[rd] Tuesday of each month with speakers who share their Faith perspectives. These are organised by our administrator Devi Bansal

School Visits : We support local schools in delivering a diverse RE curriculum by organising visits to places of worship and faith presentations in schools when possible. Schools contact us with their requests and Devi, with support from Vice Chair Jill Parker, liaises with places of worship and speakers as required.

Work with the Local Authority and community

In 2021 Interfaith Wolverhampton supported by WVCA (Wolverhampton Voluntary &Community Action), Wolverhampton City Council and other community groups submitted a bid for the Faith New Deal Project from the Department for Levelling up Housing and Communities (DLUHC). July 2022 we learned that, along with 15 other organisation in England we were successful and working in partnership with the Ethnic Minority Council this project has kept all us very busy 2022-2023.

Annually we organise social events, home cinema and film show at the Light House to bring everyone together from all faiths and of none.

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Here is a summary of the main events throughout the year with which Interfaith Wolverhampton was involved.

In partnership with City of Wolverhampton Council:

Monday 4th July 2022 - Srebrenica Memorial Service Sunday 18th September 2022 - Civic Sunday Sunday 13th November 2022 - Remembrance Sunday Saturday 27th January 2023 - Holocaust Memorial Day Sunday 4th June 2023 - Civic Sunday St Peters Church Tuesday 13th June 2023 - Srebrenica Memorial Service

and with community and faith groups

Sunday 17th April 2022- Vaisakhi Celebrations and walk Wednesday 24th May 2022 - Lighthouse Film The shape of water Sunday 10th July 2022 - Celebration of 2566 Buddha Jayanti Friday 8th September 2022 - Tim Fyffe Memorial Service Friday 29th September 2022 - IFW AGM Saturday 26th November - 2022 IFW Conference on Healthy Faith Sunday 14th May 2023 - 2567 Buddha Jayanti celebration Sunday 11th June 2023 - Guru Ravidass Temple celebration of Babu Mangu Ram Sunday 11th June 2023- Birthday of Buddhist Bante Tegwant Tuesday 13th June 2023 - Krishna Mandra Sunday 18th June - 2023 - Ek Niwas Temple Sunday 2nd July 2023 - Methodist Lanesfield Church Sunday 9th July 2023 - Holy Trinity Church Sunday 29th July 2023 - Guru Ravidass Diamond Jubilee celebration Thursday 27th July 2023 - Korean Armistice Day 70th Anniversary Service

Financial review

During the year Interfaith Wolverhampton net income was -£1,903 which decreased our reserves (unrestricted) to £16,088.

This year Interfaith Wolverhampton was heavily involved in delivering the Faith and Community Connected project which was fully funded by the Department for Levelling Up Housing and Communities. However the incomes from membership and unrestricted donations were down which resulted in the overall loss. The membership prices have been reviewed and we expect to rectify this for 2024/25.

To comply with reporting requirements for the Project and Annual Financial Report we engaged a ‘reporting accountant’ for both – funded by the Project.

The board is mindful of the need to keep expenditure under a tight control and will continue to ensure that we use our income prudently and in line with the objectives of the charity.

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Public Benefit

Throughout the year, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Future Plans

The Board will continue to invest in the regular activities of Interfaith Wolverhampton such as Bring & Share lunches, our schools work, public events such as Civic Events, Remembrance Sunday and Holocaust Memorial Day as well as our annual conference. The Board will work with Wolverhampton City Council and other funders in projects. All our future work will be shaped around our strategic aims for the forthcoming year.

Conclusion

Interfaith Wolverhampton Board is dedicated and committed to ensure that Interfaith Wolverhampton can continue to utilize our history and experiences to help build and create peace, harmony, community cohesion and community togetherness. To celebrate and embrace cultural diversity in our City of Wolverhampton.

Finally, I would like to take the opportunity to say thank you to all our vice chairs, for their continued hard work and support, and to board members and the membership for which we are grateful. I want to thank our Treasurer Martin Gomberg for his commitment, hard work and dedication on the New Deal Project. I would also like to say thank you to Jill Parker for all her dedication and hard work with the schools and the places of worship who kindly host the school visits. Finally, I want to say thank you to Devi Bansal our administrator for the commitment and professionalism she shows in everything she undertakes for Interfaith Wolverhampton.

I would like to welcome Ben Whitmore to Interfaith Wolverhampton as our new secretary.

This Report has been prepared in accordance with the small Companies Regime for Directors Reports

Cllr Jasbinder Dehar Chairperson of Interfaith Wolverhampton

5 September 2023

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Registered Office

16 Temple Street Wolverhampton WV2 4AN

Company Registration No. 3218967 – (registered in England and Wales) Charity Registration No. 1114265

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INTERFAITH WOLVERHAMPTON Statement of Financial Activities for the year ended 31 March 2023

Income
Donations and legacies
Membership Fees
1,458
Educational Services
1,506
Project Income
0
Inter-Faith Events
862
Total - Charitable activities
Other trading activities
Investment-Bank Interest
Total Income
Expenditure
Office Expenses
Insurance
Printing, Postage & Stationery
Payroll
Rent & Utilities
Telephone & Internet
Project Costs
Core Cost Contribution
Inter-Faith Events
Ivy Gutridge Fund
Total for Charitable activities
Fund-raising Events
Total Expenditure
Result for the Year
Funds Brought Forward
Funds Carried Forward		 Unrestricted
Restricted
Funds
Fund
2,142
0


0
94,020
3,826
0
0
5,968
94,020
137
0
0
0
642
0
7,100
650
450
0
109
0
0
92,587
(783)
783
216
0
0
0
7,871
94,020
0
0
7,871
94,020
(1903)
0
17,991
3,561
16,088
3,561		 2023 2022
Total
2,142
2,975
440
1,000
410
3,826
0
0
99,988
137
0
642
7,750
450
109
92,587
0
216
0
101,891
0
101,891
(1903)
21,552
19,649		 Total
20,050
4,825
0
4
1,458
1,506
0
862		 Total
2,142
3,826
0
0
99,988
137
0
642
7,750
450
109
92,587
0
216
0
101,891
0
101,891
(1903)
21,552
19,649		 24,878
1,606
840
1,480
7,940
450
62
9,157
1,259
0
22,794
0
22,794
2,084
19,468
21,552

There were no transfers between funds or other recognised gains or losses during either of the years ended 31 March 2022 or 2023.

The Statement of Financial Activities is also the Profit and Loss Account in accordance with the Companies Act 2006.

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INTERFAITH WOLVERHAMPTON

Balance Sheet at 31 March 2023

Company registered number 3218967

INTERFAITH WOLVERHAMPTON
Balance Sheet at 31 March 2023
Company registered number 3218967
Tangible Fixed Assets
Current Assets
Debtors and Prepayments
Cash at Bank and in hand
Liabilities
Creditors:
amounts falling due within one year
Net current assets
Total assets less current liabilities
Provisions for liabilities
Net Assets
Represented by Funds
Restricted Fund
Unrestricted Funds		 2023
2022
0
0
1,449
1,313
22,140
21,589
23,589
22,902
3,940
1,350
19,649
21,552
19,649
21,552
0
0
19,649
21,552
3,561
3,561
16,088
17,991
19,649
21,552

Directors’ statement

For the year ended 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ Responsibilities

  1. The members have not required the Company to obtain an audit of its accounts for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

  2. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of accounts.

  3. The Financial Statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with the FRS102 SORP.

On behalf of the Board

5 September 2023

Jasbinder Dehar Chair

Martin Gomberg Treasurer

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INTERFAITH WOLVERHAMPTON

Notes to the Financial Statements for the Year Ended 31 March 2023

1 . Basis of preparation

Basis of Accounting

The Financial Statements have been prepared under the historical cost convention and in Accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities (FRS102 version) published in 2019 and applicable accounting Standards.

The company is a public benefit entity as defined by FRS 102.

There have been no changes in accounting policies or in accounting estimates during the year. No material prior year errors have been identified during the year.

Going Concern

The company is substantially dependent on grants and donations for the continuation of its work and the nature of these necessarily means there is some uncertainty about their continued receipt in future years. The financial statements have been prepared on a going concern basis and the Directors consider that this is appropriate, having regard to expectations of future grants and donations.

Reserves Policy

The Directors' policy is to maintain unrestricted reserves sufficient to cover between 3 and 9 months of expenditure from unrestricted and non-designated funds, together with the potential redundancy costs which would arise in the event that the activities of the company were to be substantially reduced.

Recognition of income

Income is recognised in the Statement of Financial Activities when the company becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. Revenue grants receivable are credited to the relevant fund in accordance with the general income recognition criteria.

2. Fixed assets and depreciation

All assets have been depreciated to zero. Capital items costing in excess of £500 are capitalised as fixed assets and are depreciated on a straight-line basis over a period of 6 years. No new items in excess of £500 have been purchased in the last 6 years.

3. Donations and legacies

There were no legacies received in 2023 (2022:£nil). One unrestricted donation of £500 or more was received during the year for £1,210. (2022: one donation of £573).

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4. Restricted Funds

Restricted funds of £94,020 were received from the Department for Levelling Up Communities and Housing (DLUHC). Comment?

5 . Fund-raising Events (net)

Light House film
Conference		 2023
2022
646
-
410
646
410

6. Ivy Gutridge Fund

This Designated Fund (held as part of our Unrestricted Funds) was established by the Board of Trustees in 2005 to hold the Legacy received from Ivy Gutridge, MBE.

Opening balance of Fund
Income (bank interest)
Expenditure
Closing balance of Fund		 2023
2022
5,507
5,507
0
0
0
0
5,507
5,507

7. Fixed Assets

There are no fixed assets of value.

8. Debtors

Debtors and prepayments at 31 March 2023 relate to unpaid membership fees for previous year.

9. Creditors

Accruals for costs incurred within the reporting period settled post year end and totalling £3,940

10. Provisions for liabilities

There are no provision for liabilities or charges

11. Employees

In the financial years 2022-2023 and 2021-22 there was one part time employee.

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Independent Examiner’s report to the Trustees of Interfaith Wolverhampton (“the Company”)

I report on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the Charity Trustees of the Company (and also its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters 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.

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