AWMIA£ RspoRfAND AccoiINrs
202412025
••
"38 Years Serving the Voluntary and
Community Sector Organisations"
Charity Registration No. 1114755
Company Registration No. 4018585

LONDON ACCOUNTANCY PRACTICE ANNUAL REVIEW 2024-2025
Content page
Administrative Information
Members of Staff
Volunteers
Report from the Chair
Report from the Director
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Accounts

LONDON ACCOUNTANCY PRACTICE Annual Review 2023-2024
Directorsrfrustees
Abraham Tecle
William Anang
Dr. Henry Akinyeye
Alfred Syl- Turay
Staff Members
Ade Adebambo
Chairperson
Treasurer
Member
Member
Director/ Company Secretary
Finance/ Payroll Manager
Administrator
Sandra Koleosho
Paul Banda
Volunteers
Anthony Bedzrah
Hibo Omar
Mrs Victoria Nwachukwu
Gozel
Amellee L8kanda-Abongui
Student Placement
Joshua Ekundayo
Zain Jaward
Sayed Sina Mousavi
LAP would like to welcome its latest recruit of volunteers and student for 2024-2025
Anthony Ekundayo and Armelle Lekanda-Abongui, We thank everyone for their hard
work and contributions over the years, LAP is grateful for the unstinting efforts and
support of its volunteers. Our hearty congratulations to those of you that were able to
secure employment due to the practical experience and support you have received
from LAP. Our sincere apologies to those we have not been able to provide
opportunities for due to limited resources and staff time. It is estimated that over two
thousand five hundred volunteer hours w8re provided by our volunteers during the
year and if this is conservatively valu@d at £15.00 an hour, the volunteer efforts
amounted to over £37,500.00. (Thirty-sev8n thousand and five hundred pounds)
SPECIAL THANKS
Special thank you goes out to all our members and service users for their custom and
support

CHAIRPERSON'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
si,
l am pleased to rpport that despitp variou.q ehallenges faced by the voluntary sec'tor
in the last ten years including the austerity measures and the unpleasant effect. of
COVID 19, now thp cost of living crisis, London Ac.eoiJntancy Practice (LAP)
continues to be at t.he forefront .serving the Voluntary and Cjommunity Sector as il.
has done for about 38 years.
Over the years, the sector has witnessed so many chanqe8 and wp arp glad that
LAP continue,4 t.C) offer adviee, training and qupport to many orqanisations l.n keep
them (Joinq dpspite fundinq c,hi3llenqes amnng others, inclu(ling neMI st,atiJtory
.hanq@s. All this mp(Inq that l.,AP ha8 to be up to date with leqal chariges including
the Chtirity Commissi()n and the Cif)mpanip8 Hoijse and His Maje.8ty Revenue and
Justoms (HMRC). A.$ ynij all know funding has been very difficult to secure and
more quality advice c.oritinup to b(￿ needed.
As an organization, in order to capo with thp. c.urrent fijnding v.1imatp and continue to
servir.e our clipnts, wp. have re-striJcturp.d nijr act.ivities and drastically eut our
overhBads where. possible.
We cont,iniJe. tn wr)rt( wit.h other organizat.ions both inside and out.sidp the borough to
provide trainiriq f?. Ctivilies as a jnint vpnture.
Our one 2 onp advicg sp6sinn.% incrFiaspd during thp yp.(ar r?. .s many orqanizations
demand advie,e and .8uppnrt with theii financps, planninq and h(Idqot.inq to detprmine
how lono they might. be Igble to 4>LJNive or pay thEhir 8tt.lff rRdiJndane.y. INP ril80
cont.iriLJe to fr)xperience a wavp. in organizations and iridiiiidiJal.8 want.inq adiiice on
Commijnity Iriterest Companies (CICS) and Charity Inc,orporato.d Ur(Jrinisrl. tion.
(CIOS) In addition to the above, therp arp also organizat,ions reqiiesting information
on funding activities.
As a Charitable orqanisation our splt, we are eonscinusly awarp of the fact that many
.small voluntary and c.ornmiinity qp.(',t.nr orqani7.ation8 may be %lri.Jgglinq to meet t,hpir
statutory obligationq wit.h tho C,harity Cr)mmis,%ion, C>DmF)anip..g House i?nd t.he HMRC
as many of t,hom are not in pn.sitinn to pay market price for Ihe aceountancy oind
profpssional sijpport seniice£ wv. providp.
We r.ontiniJp tc) train volunt,eers and qradi.Jates to equip and provide therri with
practical pxperipnce that are .%0 npedpd to prepare them for thp futijre. This ypar we
had students from St. Mary Christ T'he. King and Goldsmith univer.sily and they havp
been very brilliar)t.
Finally, tho positive feedback we repeivp from our client qroups is a te8lament to our
existonce. Many of them have. tostifigd they may not havp bepn abl@ l.() siirvivp or
even met normal basic statutory oL)ligatic)ns and fundino requirpment8 whic.h manv
largp organisations take for graiitpd if nnt bgcause ot the kind of training, support
and other services that LAP prnvidp.
Abraham Tecle.............,..-
.2025

LONDON ACCOUNTANCY PRACTICE
DIRECTORS, AND TRUSTEES, REPORT
ST
FOR THE YEAR ENDED 31 MARCH 2025.
The trustees, who also act as directors of LONDON ACCOUNTANCY PRACTICE for the
purpose of Company Law, are pleased to present their report and the independently
examined financial statements for the year ended 31. March 2025.
OBJECTS, ORGANISATION AND ACTIVITIES
LAP'S objects continue to be:
The promotion of eff iciency and effectiveness of charities and voluntary and
community organisations by the provision of a comprehensive financial advisory
service and the training of their employees in re18vant financial skills.
Helping individual organisation (whether incorporated or unincorporated) that for
whatever reasons hav8 some form of financial difficulty or crisis.
Advising and helping such individual organisations to set up appropriate books of
accounts and keep them up to date.
Promotion of methods of bookkeeping.
Advising on information flows between the relevant memb8rs and management
committae of individual organisation and giving advice on structures to ensure
accountability.
Giving advice on budgets, funding, local authority, central government and other
grants, salaries and national insurance, local government pay scales and cash flow.
Enabling individual organisations to have a clearer und8rstanding of local authority
finance in so far as this affects the organisation's decision making;
Provision of training (group and in-hous8) to achieve eff iciency and eff8Ctiveness.
DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS
Southwark is a very diverse borough with over 1074 regist8red charlti8s and community
groups and over 50 % of th8se hav8 income of less than £1 Ook most of whom are doing
valuable work and providing essential services to our local communities, It is vitally important
that we support and sustain the work of these groups which is why LAP plays such a
significant infrastructure role in the borough and London wide. As a matter of fact, due to the
lack of Community Accountancy Services in most London boroughs, we are now inundated
with requests from other areas of London than before. We now work across all London
Boroughs as demand for assistance outstrips supply.
In our everyday work with other infrastructure organisations within and outside the borough
we see evidence of a very wid8 range of organisational management needs, including many
needs around developing sound and robust financial systems about financial accountability,
auditing/ independent examination and preparing annual accounts. As this is a specialist
area requiring expert, accurate advice, LAP has been a key resource for local voluntary
groups as well as being a very useful referral point for other infrastructure agencies. By
offering local voluntary and community organisations expert advice and support on a range
of financial issues, LAP is able to provide a highly specialised, much needed service.
LAPS work stretches much further than simply helping groups to develop sound financial
controls, or providing a payroll service or even independent examination, although these are
in themselves very useful. The longer term outcomes of our work however, have much more
sustainable benefits: organisations, who are encouraged to implement good financial
practices today are far more likely to be successful and capable in their future initiatives eg
in fundraising, in running eff icient projects, in managing funds appropriately, in being
accountable and open, in providing good value for money, and in meeting the requirements
of funders the Charity Commission, Companies House, HMRC and other statutory bodies.

The impact of all the above allows the organisations we work with to make successful
applications to potential funders and as a result being able to lever in more money into the
borough.
LAP continues to provide particular support to smaller and medium-sized voluntary and
community sector organisations and those representing disadvantaged sections of the
community including the BAMERS (Black, Asian and Minority Ethnic Refugee groups) to
increase their capacity and help comply with the requirements of funders, Companies
House, Charity Commission and both local and central governments.
The current economic and funding climate including the aftermath of COVID19 continue to
pose challenges for many organisations and it is making it diff icult rf not impossible for many
organisations to surviv8 and the continuing complexity in charity financial reporting has
resulted in heavy reliance on our services and this no doubt puts prassure on us and other
organisations as we both continue to find ways of saving money and at the same time
endeavour to provide good, quality Services. Our adaptable financial control procedures
have helped many organisations to be able to write their own in-house financial policy and
procedures.
Our areas of activities continue as follows:
INDEPENDENT EXAMINATION
LAP continues to provide affordable alternatives to commercial services. We carried out 65
independent examinations during the year. This service has helped to develop and sustain
most of the organisations we work with as they have been able to comply with both Charity
law <2011 Charities Act) the 2006 Companies Act and various legislations. We have
therefore saved organisations hundreds of pounds in penalties and surcharges. We have
been able to assist so many CICS.
IMPACT
As a r8suIt of this seNice, we have been able to increase the ability of small and medium-
sized voluntary and community sector organisations to meot the reporting requirements of
funders and other Stake holders including Companies House and HMRC.
In addition, our clients have been able to lever in more funding including new funding
sources to their organisations and their respective boroughs, effectively making them more
sustainabl8 and allowing them to be able to concentrate more on their core activities.
PAYROLL ADMINISTRATION During the y6ar, over 240 employees from over 56
organisations benefited from our efficient and cost-effective payroll administration and advice
services. The Welfare Reforms has meant more enquiries from employers and employe8S
alike seeking advice.
IMPACT
By providing a high quality and reliable payroll service along with advice and support for over
56 payroll client groups, we have released them to concentrate on their core activities. We
deal with all aspects of payroll query from both the organisations and the HMRC and liaise
between them whenever possible when any problems arise.
By making the organisations aware of their legal responsibilities as employers, keeping them
up to date with changing legislation and making them aware of other developments and any
other responsibilities, deadlines, etc, we have saved them a lot of money in penalties and
surcharges. All companies are now legally responsible for filing all forms etc online which we
now do for them. This has allowed many groups to make savings and cut back on back
office costs.

LONDON ACCOUNTANCY PRACTICE
DIRECTORS, AND TRUSTEES, REPORT
FOR THE YEAR ENDED 31" MARCH 2025.
VOLUNTEERING, TRAINING AND WORK PLACEMENT
LAP continues to contribute to the skills development of the local and national residents by
providing tangible training and support for graduate trainees, volunteers and students on
placements. These graduate trainees / volunteers were equipped and as a result of the level
quality of the training and the experience gained, many have been able to secure paid jobs.
IMPACT
The effectiveness of these training sessions could be seen in the quality of work produced
by the trainees at their respective organisations after the training. Our cost-eff6Ctive training
meant that organisations continue to have better understanding of their financial position.
This has led to an increase in the capacity of small and medium sized voluntary and
community sector orgariisations to manage their financial resources more effec.tively and
efficiently
ONE 2 ONE ADVICE
Our free one to one advice and consultancy sprvices continue to be popular with both old
and emerging groups especially due to various changes and legislations relating to
organisations being set up as social enterprises, Community Interpst Organisations. 700/0 of
registered charities in Southwark are also incorporated and we provided them with relevant
advi￿.
IMPACT
This service has tremendously bpnefited a lot of our client, groups during the year. We were
able to provide mijch needed assistance. and support for organisations putting in funding
applications and to advise on company and charity registration, 'fhis service has helped
many organisations to avoid an initial pitfall.
COLLABORATIVE WORK
LAP continues to work with other second tier organisations within the London Borough of
Southwark and across other London boroughs including Community Southwark {CS), This
has been very effective as it avoids duplication and helped the groups to receive tailor-made
advice, training and support.
RESERVE POLICY
The Charity Commission requirp.s c.harities to determine and explain their policy for free
reserves. The trustees have reviewed it.s free reserves policy and have turned its entire
unrestricted fund into an emergency reserve, and have set a target of £54,494.00 this year
to enable LAP to meet its obligations for a period of 9 months in the event of a shortfall in
income or sudden upturn in expenditure.
RISK MANAGEMENT
The trustees have examined the major risk that LAP faces and believe that by maintaining
our free reserves at. a reasonable level, combined with our annual review of the controls over
key financial systems, this will provide sufficient resources in the event of adverse
conditions. The trustees have also examined other operational and business risks that we
face and confirm that they have established systems to mitigate the significant risks.
Signed on behalf of the trustpps on
By Chairperson
.Abraham Tecle

LONDON ACCOUNTANCY PRACTICE
(A Company Llmlted by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT EXAMINER'S REPORT
I report on the accounts of the company for the year 8nded 31 March 2025, whlch are set
out on pages 9 to 10.
Re8pectlve re8pon8lbllltl08 of tru8tee8 and examlner
Th8 trust8es (who are also the dlrectors of the company lor the purposes of company law)
are r8sponslble for the preparatlon of the accounts. The tru8t8e8 consider that an audlt Is not
r8qulr8d for thls year under section 144(2) of the Charltl88 Act 2011 (the 2011 Act) and that
an independent examlnation is needed,
Havlng satlsfled myself that the charlty18 not 8ubJect to audlt under company law and 18
ellgible for Independent examlnatlon, It18 my responsiblllty to:
examlne the accounts under sectlon 145 of the 2011 Act.,
to follow the procedures lald down In the general Dlrectlon8 glven
by the Charlty Commlsslon under s8Ctlon 145(5) (b) of the 2011 Act. and
to stat8 whether partlcular matter8 have coma to my att8ntlon.
Ba818 of Indepondent oxamlnor'• report
My examination was carrled out in accordance wlth the general Directlon8 glven by tha
Charity Commisslon. An examlnatlon includeB a revlew of the acGountlng record8 kept by the
charity and a comparlson of the accounts presented wlth those r8cord8. It al80 Includ88
consideratlon of any unusual items or di8cIo8ure8 in Ihe accounts, and $8eklng 8xplanatlon8
from you as trust688 concernlng any such matters. The procedures undertaken do not
provlde all the evldence that would be requlred In an audlt and consequently no oplnlon Is
glven a8 to whether the accounts present a 'true and falr vl8w' and the report Is Ilmlted to
those matters set out In the statement below.
Ind•pondont oxamlngr'• 8tatement
In connectlon wlth my examlnatlon, no matter has come to my attentlon..
(1) whlch glve8 me reasonable cause to belleve that In any mat8rlal respect the
requlrements:
to keep accountlng racords In accordance wlth 8ectlon 386 of the Companles Act
2008; and
to prepare accounts whlch accord wlth the accountlng records, comply wlth the
accountlng requlr8ments of 8ectlon 396 of th8 Companies Act 2006 and wlth the
methods and prlnclples of the Statement of Recommended Practlce: Accountlng and
Reporting by Charltl83
hav6 not been met; or
(2) to whlch, In my oplnlon, attention 8h.ould be drawn In order to enable a proper
understanding of the accounts to be reached.
Slgn........
John Joseph Dola
JJ Dolan & co
10 Gerard Court
Hitherfield Lane
Harpenden,Herts
AL5 4JA
FAAT, FAIA

LONDON ACCOUNTANCY PRACTICE
STA TEMENT OF FINANCIAL ACTIVITIES
FOR ThE YEAR ENDED 31 STMARCH 2025
INCOMING RESOURCES
2026
2025
Unrestrlcted Restrlctsd
Fund
Fund
2025
2024
Total
Total
Fund Fund
Notes
Incoming Resource3 From
Generated Funds
Athvities For Generating Funds
Investment Income
Totsl Ineomlng Resources
73,784
73,784 75,752
73,785 75,753
RESOURCES EXPENDED
Charltable Aetlvftles
72,658
72,658 72,871
Total Resourc•8 Exponded
72 658 72 871
NET INCOMING RESOURCES
1,127
1,127 2,882
Fund Balanc08 Brought Forward
at 1st Aprll 2024
Fund Balance8 Carrled Forward
at 1st Aprll 2026
30,798
30,798 27,916
31926 30 798

LONDON ACCOUNTANCY PRACTICE
BALANCE SHEET
AS AT 31 ST MARCH 2025
Note¥
2025
2024
CURRENT ASSETS
Debtors and prepayments
Cash at Bank and In Hand
31.803
9.921
41,724
35.409
4.788
40,197
CURRENT LIABILITIES
Cr•dltors And Accrual$
Amount falling due within one vear
9.799
9.399
N•t Curr•nt Assets
31,926
RESERVES
Restricted FLrnds
Uiii'estricted Funds
Desionated Funds
25,000
30,798
For the period ended 31 March 2024 the Company was entitled to exemption from
audit under s8Ction 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 account8 for
the year in question in accordance with section 476,
the direGtors acknowledge their responsibilities for complying with the
requirements of the Act with respect to accounting records and the
preparation of the accounts
these accounts have been prepared in accordance with the provision
applicable to companies subject to the small companies, regime.
The financial statements on pages 8 to 10 were approved by the board of directors
on
.and signed on its behalf by
..Treasurer
William Anang
10

LONDON ACCOUNTANCY PRACTICE
(A Company Limited by Guarantea)
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basis of preparation of Financial Ststernents
The financial statements are prepared under the historic cost convention and
include the results of the company's operations which are described in the
Board of trustees, Report and all of which are continuing.
The accounts have been prepared in accordance with the Statements of
Recommended Practice for company accounts.
The company has taken advantage of the exemption of Financial Reporting
Standard No 1 from the requirements to produce a cash flow statement on the
grounds that it qualifies as a small company.
1.2 Incoming Resources
1.2.1 Revenue grants are credited to the Statement of Financial Activities on the
earlier date of when they are received or when they are receivable, unless
they relate to a specific future period, in which case they are included on the
Balan￿ Sheet as deferred income to be recognised in the future accounting
period.
1.2.2 Grants received for specific purposes are accounted for as restricted funds in
the Statement of Financial Activities.
1.3 Restricted Funds
Restricted funds are to be used for specific purposes as laid down by the
donor. Expenditure which meets these criteria is identified to the fund,
together with a fair allocation of management and support costs.
1.4 Unrestricted Fund8
Unrestricted funds are donations and other incomes received or generated for
the objects of the organisation without further specified purpose and are
available for general funds.
1.5 Designated Funds
Designated funds are unrestricted funds earmarked by the board of trustees
for particular purposes.
1.6 Tangible Fixed Assets
All expenditure that related to equipment has been charged to the Statement
of Financial Activities in the year of acquisition because they were of low
value. A register of assets is maintained.
11

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