REGISTERED COMPANY NUMBER: (England and Wales) : 04875873 REGISTERED CHARITY NUMBER: 1122887
Report of the Trustees and Financial Statements for the Year Ended 31 December 2024 for
Inter Cultural Centre
Report of the Trustees
For the year ended 31 December 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024.. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement 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) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES Objectives and Aims
Inter Cultural Centre is a registered Charitable Organization in the United Kingdom founded on 20 February 2008 with the mission of:
To promote cultural cohesion through educational activities across religious and cultural boundaries within the context of humanitarian endeavours based on the principles of Human Rights.
Report of the Trustees
For the year ended 31 December 2024
STRATEGIC REPORT
Achievement and performance
The charity successfully carried out its objectives during the year.
Financial review
Financial position
The trustees were delighted to receive donations and other income of £70,738 from the United Kingdom and overseas,
Total resources expended for the year was £82,319 and therefore the charity can report a net deficit in funds of £11,581.
Reserves policy
The charity has power to set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves to cover administrative costs.
Going concern
The trustees have reviewed the circumstances of the charity and consider that adequate resources continue to be available to fund the activities of the charity for the foreseeable future. The trustees are of the view that the charity is a going concern.
Principal risks, uncertainties and their management
The trustees are responsible for ensuring that there is an effective system for the management of the risks faced by the charity and have implemented risk management processes. The Trustees have ensured that appropriate controls are in place to provide assurance against fraud and error. These controls are continually monitored for adherence.
The principal sources of funding to the charity were from individuals. These funds provide the commercial basis for charitable projects undertaken by the charity.
Plan for future periods
The core of the charity's objectives are to promote Iranian culture, arts and Irfan (mysticism).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a registered charity and a company limited by guarantee. The governing document is the Articles of Association.
The charity is further governed by the Board of Trustees which consists of two who are set on this document. Trustees are responsible for decision-making on long-term strategic direction and governance as well as the review of the charity's performance.
Recruitment and appointment of new trustees
The appointment of a new trustee to the Board of Trustees takes place after due consideration from both parties, to ensure a good strategic fit for the Board and the prospective trustee.
Key management remuneration
No remuneration has been paid to the trustees.
Report of the Trustees For the year ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
(England and Wales)
04875873
Registered Charity number
1122887
Registered office
128 City Road London EC1V 2NX
Trustees
Dr Seyed Mostafa Azmayesh Mehrdad Noorani
Accountants
Boroumand & Associates LLP Chartered Accountants Suite 105, Viglen House Alperton Lane Wembley HA0 1HD
Bankers
HSBC 79 Piccadilly London W1J 8EU
EVENTS SINCE THE END OF THE YEAR
There were no events since the end of the year.
FUNDS HELD AS CUSTODIAN FOR OTHERS
There were no funds held as custodian for others for the year ended 31 December 2024.
Report of the Trustees
For the year ended 31 December 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees who are also the directors of Inter Cultural Centre for the purposes of company law are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those 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 Charity SORP;
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make judgements and 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
Mehrdad Noorani
- ............................................. - Trustee
Registered number: 04875873
INTER CULTURAL CENTRE DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Boroumand & Associates LLP Chartered Accountants Suite 105, Viglen House Alperton Lane London HA0 1HD
Inter Cultural Centre Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Income and Expenditure Account | 4 |
| Statement of Comprehensive Income | 5 |
| Balance Sheet | 6 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8—10 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 11 |
Inter Cultural Centre Company Information For The Year Ended 31 December 2024
| Directors | Dr Seyed Mostafa Azmayesh |
|---|---|
| Mr Mehrdad Noorani | |
| Company Number | 04875873 |
| Registered Office | 128 City Road |
| London | |
| EC1V 2NX | |
| Accountants | Boroumand & Associates LLP |
| Chartered Accountants | |
| Suite 105, Viglen House | |
| Alperton Lane | |
| London | |
| HA0 1HD |
Page 1
Inter Cultural Centre Company No. 04875873 Directors' Report For The Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Principal Activity
The company's principal activity is to promote cultural cohesion through educational activities across religious and cultural boundaries within the context of humanitarian endeavours based on the principles of Human Rights.
The company was granted charity status on 20 February 2008 under charity number 1122887.
Directors
The directors who held office during the year were as follows:
Dr Seyed Mostafa Azmayesh
Mr Mehrdad Noorani
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments 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 company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Mehrdad Noorani Director 14/07/2025
Page 2
Inter Cultural Centre Accountants' Report For The Year Ended 31 December 2024
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Inter Cultural Centre For The Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Inter Cultural Centre For The Year Ended 31 December 2024 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulationsstandards-and-guidance.
This report is made solely to the directors of Inter Cultural Centre, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Inter Cultural Centre and state those matters that we have agreed to state to the directors of Inter Cultural Centre, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inter Cultural Centre and its directors, as a body, for our work or for this report.
It is your duty to ensure that Inter Cultural Centre has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Inter Cultural Centre. You consider that Inter Cultural Centre is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Inter Cultural Centre. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Boroumand & Associates LLP
14/07/2025
Boroumand & Associates LLP Chartered Accountants Suite 105, Viglen House Alperton Lane London HA0 1HD
Page 3
Inter Cultural Centre Income and Expenditure Account For The Year Ended 31 December 2024
| Notes TURNOVER GROSS SURPLUS Administrative expenses OPERATING DEFICIT Other interest receivable and similar income Interest payable and similar charges DEFICIT FOR THE FINANCIAL YEAR |
2024 £ 50,152 50,152 (78,401) (28,249) 20,586 (3,918) (11,581) |
2023 £ 44,749 |
|---|---|---|
| 44,749 (90,300) |
||
| (45,551) 9,387 (3,369) |
||
| (39,533) |
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Inter Cultural Centre Statement of Comprehensive Income For The Year Ended 31 December 2024
| DEFICIT FOR THE FINANCIAL YEAR OTHER COMPREHENSIVE INCOME FOR THE YEAR TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
2024 £ (11,581) - (11,581) |
2023 £ (39,533) - |
|---|---|---|
| (39,533) |
Page 5
Inter Cultural Centre Balance Sheet As At 31 December 2024
| Notes FIXED ASSETS Investment Properties 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2024 £ £ 513,433 513,433 2,956 546,235 549,191 (2,900) 546,291 1,059,724 1,059,724 1,059,724 1,059,724 |
2024 £ £ 513,433 513,433 2,956 546,235 549,191 (2,900) 546,291 1,059,724 1,059,724 1,059,724 1,059,724 |
2023 £ £ 513,433 513,433 2,989 557,543 560,532 (2,660) 557,872 1,071,305 1,071,305 1,071,305 1,071,305 |
2023 £ £ 513,433 513,433 2,989 557,543 560,532 (2,660) 557,872 1,071,305 1,071,305 1,071,305 1,071,305 |
|---|---|---|---|---|
| 513,433 546,291 |
513,433 557,872 |
|||
| 549,191 (2,900) |
560,532 (2,660) |
|||
| 1,059,724 | 1,071,305 | |||
| 1,059,724 | 1,071,305 | |||
| 1,059,724 | 1,071,305 | |||
| 1,059,724 | 1,071,305 |
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
The financial statements were approved by the board of directors on 14 July 2025 and were signed on its behalf by:
Mr Mehrdad Noorani
Director
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Inter Cultural Centre Statement of Changes in Equity For The Year Ended 31 December 2024
| As at 1 January 2023 Loss for the year and total comprehensive income As at 31 December 2023 and 1 January 2024 Loss for the year and total comprehensive income As at 31 December 2024 |
Income and Expenditure Account £ 1,110,838 (39,533) |
|---|---|
| 1,071,305 | |
| (11,581) | |
| 1,059,724 |
Page 7
Inter Cultural Centre Notes to the Financial Statements For The Year Ended 31 December 2024
1. General Information
Inter Cultural Centre is a private company, limited by guarantee, incorporated in England & Wales, registered number 04875873. The registered office is 128 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention with the exception of investment property which is stated at fair value and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation provided Computer Equipment 25%
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income and expenditure account.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to release the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially 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 transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
...CONTINUED
Page 8
Inter Cultural Centre Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
2.6. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus.
2.8.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as laibilities once they are no longer at the discretion of the company.
2.9.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short tem liquid investments with original maturity of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
4. Investment Property
| Fair Value As at 1 January 2024 and 31 December 2024 5. Debtors Due within one year Other debtors 6. Creditors: Amounts Falling Due Within One Year Accruals and deferred income |
2024 £ 2,956 2024 £ 2,900 |
2024 £ 513,433 |
|---|---|---|
| 2023 £ 2,989 |
||
| 2023 £ 2,660 |
Page 9
Inter Cultural Centre Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
8. Ultimate Controlling Party
The company's ultimate controlling party are Dr Seyed Mostafa Azmayesh and Mehrdad Noorani.
Page 10
Inter Cultural Centre Detailed Income and Expenditure Account For The Year Ended 31 December 2024
| TURNOVER Donations, Publications and other income Rental income GROSS SURPLUS Administrative Expenses Travel expenses Rent Rates and service charge Light and heat Computer software, consumables and maintenance Repairs, renewals and maintenance Insurance Accountancy fees Venues, Hall rental and Publications Charitable donations Sundry expenses Foreign exchange deficit OPERATING DEFICIT Other interest receivable and similar income Bank interest receivable Interest payable and similar charges Bank charges DEFICIT FOR THE FINANCIAL YEAR |
2024 £ £ 25,198 24,954 50,152 50,152 - 13,394 3,090 2,346 1,247 2,843 255 2,940 50,257 600 - 1,429 (78,401) (28,249) 20,586 20,586 3,918 (3,918) (11,581) |
2024 £ £ 25,198 24,954 50,152 50,152 - 13,394 3,090 2,346 1,247 2,843 255 2,940 50,257 600 - 1,429 (78,401) (28,249) 20,586 20,586 3,918 (3,918) (11,581) |
2023 £ £ 27,853 16,896 44,749 44,749 231 13,100 4,377 1,420 1,793 12,062 570 2,760 46,210 980 1,441 5,356 (90,300) (45,551) 9,387 9,387 3,369 (3,369) (39,533) |
2023 £ £ 27,853 16,896 44,749 44,749 231 13,100 4,377 1,420 1,793 12,062 570 2,760 46,210 980 1,441 5,356 (90,300) (45,551) 9,387 9,387 3,369 (3,369) (39,533) |
|---|---|---|---|---|
| 50,152 50,152 (78,401) |
44,749 44,749 (90,300) |
|||
| 20,586 | 9,387 | |||
| (28,249) 20,586 (3,918) |
(45,551) 9,387 (3,369) |
|||
| 3,918 | 3,369 | |||
| (11,581) | (39,533) |
Page 11
Independent Examiner's Report to the trustees of Inter Cultural Centre
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Inter Cultural Centre 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 Inter Cultural Centre 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:
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accounting records were not kept in respect of Inter Cultural Centre in accordance with section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the relevant accounting requirements of section 396 of the Companies Act 2006 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
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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.
V
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Chartered Certified Accountants 17 Birkdale Road London W5 1JZ
15 July 2025