Charity reglstration number 1118585 (England and Wales) Company registration number 04645785 BOSNIAN CULTURAL CENTRE- MIDLANDS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 BOSNIAN CULTURAL CENTRE- MIDLANDS LEGAL AND ADMINISTRATIVE INFORMATION Trusteas Mr Z Vileskic Mr S Halilovic MrA Kahriman MrA Dedic Mr M Gazibegovic Charfty number 1118585 Company number 04645785 Prfncipal address 68 Stanhope st￿et Highgate Birmingham B120XB Registered office 68 Stanhope Slreet Highgate Birmingham 812 OXB Independant examlner M T Manley & Co Limited 696 Yardley Wood Rd Billesley Birmingham Wesl Midlands B13 OHY BOSNIAN CULTURAL CENTRE- MIDLANDS CONTENTS Page Trustees, report Independenl examiners report Statement of financtal activities Balan￿ sheet Notes lo the finanryal statements 6-11 BOSNIAN CULTURAL CENTRE- MIDLANDS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2025 The trustees present their annual report and financial statements for Ihe year ended 31 January 2025. The financial statements have been prepared in accordance with Ihe aGGounling policies set out in note 1 to Ihe financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and °Accounting and Reporting by Charities= Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). {as amended for accounting periods commencing from 1 January 2016) Objectives and activities The charity is seeking to provide support for the disadvantaged Bosnian community by promoting education and Iraining, advocacy and research, so as to further health and poverty relief, and to alleviate social exclusion, distress and sickness. Public benefit The trustees have paid due ￿gard to guidance issued by the Charity Commission in deciding what activilies the charity should undertake. Achievements and perfomiance Significant activities and achievements against objectives Financial review R8soNes policy It is Ihe policy of the charity that unrestricled funds which have not been designaled for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The truslees consider thal reserves at this level will ensure that, in Ihe event of a significant drop in funding, they will be able to continue the charity's current aclivities while consideration is given to ways in which addiliona5 fvnds may be raised. This level of reserves has been maintained throughout the year. Major risks The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. Structure, govemance and management The ¢harity is a company limited by guarantee. The Iruslees, who are also the directors for Ihe purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mr Z Viteskic Mr S Halilovic Mr A Kahriman MrA Dedic Mr M Gazibegovic Recruitment and appointment of trust86S None of the Irustees has any benefi¢ial interest in the company. A]1 of the trustees are members of the company and guaranlee to contribute £1 in Ihe event of a winding up. BOSNIAN CULTURAL CENTRE- MIDLANDS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 The trustees, report was approved by the Board of Trustees. Mr Z Vileskic Trustee 13 June 2025 BOSNIAN CULTURAL CENTRE- MIDLANDS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOSNIAN CULTURAL CENTRE - MIDLANDS I report to the trustees on my examination of the financial statements of 8osnian Cultural Centre - Midlands (the charity) for the year ended 31 January 2025. Responsibilities and basis of report As the trustees of the chartty (and also its directors for the purposes of company law). you are responsible for the preparation of the financial stalements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respeGt of my examination of Ihe charity's financial slalements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under sedion 145{5}{b) of the Charrties Act 2011. Independent examinefs statement I have completed my examination. I confinn that no matters have ￿me to my attention in Connection with the examination giving me cause to believe that in any material respect= accounting records were nol kept in respect of the tharity as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records.. or the financial slalements do not comply wilh Ihe accounting requirements of sedion 396 of Ihe Companies Act 2006 other than any requirement that the financial statements gtve a true and fair view, which is not a matter onsidered as part of an independent examination-. or the financial statements have not been prepared in accordan￿ with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charilies applicable lo charities preparing their financial statements in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no ¢oncems 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 financial statements to be reached. T Manley & Co Llmited 696 Yardley Wood Rd Billesley Birmingham West Midlands B13 OHY 13 June 2025 BOSNIAN CULTURAL CENTRE- MIDLANDS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2025 Unrestrictsd funds 2025 Unrestrictsd funds 2024 Notes Income from: Donalions and legacies 37,476 60,530 Total income 37,476 60,530 Expenditure on: Charitable activities 32,126 62,596 Total expenditure 32,126 62,596 Net inc0mel{expenditu￿I and movement in funds 5,350 {2,066) Reconciliation of funds: Fund balances at 1 February 2024 354,663 356,729 Fund balances at 31 January 2025 360,013 354,663 The statement of financial acttvities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. BOSNIAN CULTURAL CENTRE- MIDLANDS BALANCE SHEET AS AT31 JANUARY2025 202S 2024 Notss Fixed assets Tangible assets 10 236,288 235,772 Current assets Cash at bank and in hand 124,865 119,995 Creditors: amounts falling due within one year 11 (1,140) (1.104) Net Current assets 123,725 118,891 Total assets less current liabilitles 360,013 354,663 The funds of the charity Unrestricted funds 12 360,013 354,663 360,013 354,663 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 January 2025. The directors acknowledge their responsibililies for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. The members have nol required the company to oblain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to Ihe small companies regime. The financial statements were approved by the trustees on 13 June 2025 Mr Z Witeskic Trustee Company registration number 04645785 (England and Wales) BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2025 Accounting policies Charity infomiation Bosnian Cultural Centre - Midlands is a charÉtable company limÈted by guarantee. 1.1 Accounting convention The financial statements have been prepared in accordance with the charitys governing document, the Companies Act 2006 and "Accounling and Reporting by Charities: Statement of Recommended Practir applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The charÉty has taken advantage of the prowsions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. whFch is the funclional curren¢y of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [m¢xlified to include the revalualion of freehold properties and to indude investment properties and certain financial instrumenls al fair value]. The principal aC￿unting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the dis￿et40n of the trustees in furtherance of their charFtable objectives. Restricted funds are subject to specific Conditions by donors or grantors as lo how they may be used. The purposes and uses of the restrided funds are set out in the notes to the ffinanrAal ststemenls. Endowment fvnds are subjecl to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfom)ance conditions have been met, Ihe amounls can be measured reliably, and tt is probable that income will be received. Cash donalions are recognised on re￿ipl. Other donations are recognised once the charity has been nolified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Grft Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise rf the chartty has been notified of an impending distrlbution, the amount is known, and receipt is expected. If the amount is not known. Ihe legacy is treated as a conlingenl asset. BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Accountlng policles (Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or construdive obligation to transfer economic benefit to a Ihird party, il is probable that a transfer of e¢onomi¢ benefits will be required in settlement, and Ihe amount of the obligation can be measured reliably. Expenditure is classified by aclivtly. The costs of each activity are made up of the total of direct costs and shared costs, including stjpport costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated diredly to that activity. Shared costs which contribute lo more than one activity and support Costs which are not attribulable to a single activity are apportioned belmeen those activities on a basis consistenl with the use of resources. Central staff ¢osls are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible flxad assets Tangible fixed a$sels are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Deprecialion is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bas88: Freehold land and buildings Fixtures and fittings Not depreciated 151/9 r8ducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impaimient of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets lo determine whether there is any indication Ihat those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of Ihe impaimient loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in ¢urrenl liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balan￿$, are inilially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iransaction, where Ihe transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 Accounting policies (Contlnued) Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless Ihe arrangement constitLrtes a financing transaction, where the debt instnjrnent is measured at the presenl value of the futufe payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequentty cartied at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or serVi￿S that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassÉfied as current liabilities rf payment is due wtthin one year or less. If not. they are presented as non-currenl liabilities. Trade ueditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest melhod. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's o)ntractual obligations expire or are distharged or cancelled. 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in whith the employee's services are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to lemiinate the employment of an employee or to provide lem)ination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, eslimales and assumplions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may dnyer from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Unrestricted funds funds 2025 2024 Donations and gifts 37.476 60,530 BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 Expenditure on charitsble activities Charitable activities Charitable activities 2024 2025 Direct costs Depreciation and impaiment 808 716 Share of support and governance costs (see note 5) Support Goveman 30,178 1.140 60.764 1,116 32,126 62,596 Analysis by fund Unrestricted fijnds 32,126 62,596 Support costs allocated to activities 2025 2024 Power. light and heat Property repairs and maintenance Travelling expenses Volunteer subsislen InSUran￿S Telephone and stationery Sundry expenses Donations Bank charges Goveman¢e costs 3,203 1.194 8,392 2,631 1,207 1,156 6,989 1,562 7,360 3,607 1,164 861 600 38,178 443 1,116 12,093 268 1.174 31,318 61,880 Analysed bebNeen: Charitable activities 31,318 61,880 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediling)'. Deprecialion of owned tangible fixed assels 808 716 Trustees None of the trustees {or any pèrsons connected with them) received any remuneration Of benefrts from the charity during the year. BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 JANUARY2025 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number There were no employees whose annual remuneration was more than £60.000. Taxatlon The charily is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Tangible fixed assets Frn•hold l•nd Flxtur•• and •nd bulldlng8 ffttlngs Totsl Cost Al 1 February 2024 Additions 231.712 24,950 1,325 256,662 1,325 Al 31 January 2025 231,712 26,275 257,987 Depreciation and Impalrnient Al 1 February 2024 Depreciation charged in the year 20,891 808 20.891 808 At 31 January 2025 21.699 21,699 Carying amount At 31 January 2025 231,712 4,578 236,288 At 31 January 2024 231,712 4,060 235,772 11 Creditors: amounts falling due withln one year 2025 2024 Accruals and deferred income 1,140 1.104 10- BOSNIAN CULTURAL CENTRE- MIDLANDS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 12 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and granls which are not subject to specific condiiions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslrided funds by the trustees for specific purposes. At 1 February 2024 Incoming resources Resources At 31 January expended 2025 General funds 354.663 37,476 {32,126) 360,013 Previous year: At 1 February 2023 Incoming resources Resources At 31 January expended 2024 General funds 356.729 60,530 {62,596) 354,663 13 Relatsd party transactions There were no disdosable related party transactions during the year {2024- none). 11