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2022-03-31-accounts

Registered number at Companies House 05298722

Registered number at Charities Commission 1124251

Race Equality Network Limited (Company limited by guarantee)

Report and Accounts

31 March 2022

Race Equality Network Limited Report and accounts Contents

Page
Company information 1
Directors' report 2
Independent Examiners Report 5
Statement of Financial Activities (Income and expenditure accou 6
Balance sheet 7
Notes to the accounts 8
Detailed statement of financial activities 11

Race Equality Network Limited (R E N)

Company Information

Directors

Mr Yusuf Karolia (chairman)

Mr Mohammad Abbas (treasurer resigned 30/11/2021) Shadim Hussain (trustee joined 1/10/2020) Abdul Ismail (trustee joined 1/10/2000) Anne Marie Smith (trustee joined 1/09/2020) Nadera Amini (trustee joined 1/09/2020) Manjit Kaur (trustee joined 1/08/2020) Charles Dacres (trustee joined 1/08/2020) Ashok Kumar Nair (trustee joined 1/10/2020)

Secretary

Dr Mohammed Salam (trustee joined 1/10/2000)

Accountants (Independent Examiners)

Adam & Co Accountancy Ltd First Floor 1 Edmund Street Bradford West Yorkshire BD5 0BH

Bankers

Virgin Money (Yorkshire Bank) 1 Westgate Shipley BD18 3SD

Registered office

Grange Interlink Community Centre Summerville Road Bradford BD7 1PX

Registered number

Registered number at Charities Commission is 1124251 Registered number is 05298722 at Companies House Private company limited by guarantee without share capital

1

Race Equality Network Limited Registered number: 05298722 Directors' Report

The report of the directors and trustees

The directors present their report and accounts for the year ended 31 March 2022.

Principal activities

The company's principal activity during the year continued to be of a charitable organisation.

Directors and trustees

The following persons served as directors during the year:

Mr Yusuf Karolia (chairman) Dr Mohammed Salam (secretary) Mr Mohammad Abbas (treasurer resigned 30/11/2021)

Significant changes, developments and plans for the future:

REN continues to strengthen its governance and now has a range of individuals on the REN Board who have extensive expertise and skills and come from senior leadership positions within the community. will continue our campaign to increase membership and partner associates and to work with the mainstream infrastructure support organisations to deliver effective outcomes.

REN seeks to focus on financial sustainability in coming months and years and to sharpen its focus o what matters most to the communities and to partners. The Board has held an awayday workshop followed by another session to fine tune our future plans and have agreed to focus on five key elements:

The organisational structure and how decisions are made:

The organisation is run by an elected board of Directors/ Trustees, who are elected from the membership of the organisation. The board members meet on a regular basis to discuss the affairs of the organisation and make the decisions from the board room. Method of election of the members of the board of trustees:

One-third of the Board Members are elected/re-elected at an AGM each year by a simple majority.

The position of Chair, Treasurer and Secretary are also elected each year following the AGM. A quorom is required (5 members minimum) and upto 16 members, maximum can be elected.

Membership is based on the organisations, who wish to support the activities of REN and represent their BME organisation. The meetings are held at least four times a year.

Risk Management

The directors and trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.

Related Parties

REN works with a wide range of organisations at a local, regional and national level. Locally these include voluntary and community groups, the Bradford Metropolitan Council, Bradford Infrastructure District Partnership, Bradford and Airedale Teaching Primary Care Trust, West Yorkshire Police, Bradford Community Empowerment Network, other the Government infrastructure organisations and Corona Virus Government Support Units. Nationally these include National Association of Voluntary and Community Action and Voice

2

Race Equality Network Limited Registered number: 05298722 Directors' Report

for Change in England

The Board would like to thank the following funding bodies for their assistance and support during the period:

Bradford Council, Runnymede Trust, West Yorkshire Health & Care Partnership, and Public Health England. We would also like to thank all the other statutory and none statutory organisations whohave supported REN's activities

Key Achievements for this year

In the last year, COVID has been the singular dominant factor for us as an organisation over last 12 months, we have delivered the following projects:

REN will be developing a 3-year strategy in the coming months and as an organisation, we are still needed to support with COVID prevention work as weII as ensuring that race equality still continues to be the main strand of our work.

3

Race Equality Network Limited Registered number: 05298722 Directors' Report

The trustees guarantee to contribute an amount not exceeding £1 to REN's assets in the event of winding up. Total guarantees given is £4.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 28 October 2022 and signed by its order.

Mr Yusuf Karolia (chairman)

Dr Mohammed Salam (Secretary)

4

Race Equality Network Limited (REN) Independent Examiners Report

Report to the director/trustees on the preparation of the unaudited statutory accounts of Race Equality Network Limited for the year ended 31 March 2022

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 03 / 2022.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b)

Independent examiner's statement

The charity’s gross income exceeded £200,000 and I am qualified to undertake the examination by being a qualified member of ACCA.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

*the accounting records were not kept in accordance with section 130 of the Charities Act; or

*the accounts did not accord with the accounting records; or

*the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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

Shahbaz Munir (FCCA) Adam & Co Accountancy Ltd Chartered Certified Accountants First Floor 1 Edmund Street Bradford BD5 0BH

The report was approved by the Independent Examiner on: 28/10/2022

5

Race Equality Network Limited Statement of Financial Activities (Income and expenditure account) for the year ended 31 March 2022

Income
Grants & Donations
Resources expended
Direct charitable expenditure
Management and administration of the charity
Total resources expended
B
C
Interest receivable
Adjustment to reserves
Net Movement in funds
Total funds brought forward
Total funds carried forward
Net Incoming Resources before
revaluations and investment asset		 Unrestricted
2022
£
21,747
-
(18,066)
(18,066)
3,681
91
-
3,772
18,613
22,385		 Restricted
2022
£
206,762
(272,319)
(134,285)
(406,604)
199,842
-
-
2,926
196,916
-
372,897
175,981		 Total
2022
£
228,509
(272,319)
(152,351)
(424,670)
(196,161)
91
2,926
(193,144)
391,510
198,366		 Total
2021
£
605,596
(174,105)
(48,644)
(222,749)
382,847
34
-
382,881
8,629
391,510

The net movement in funds referred to above is the net incoming resources as defined in the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales and is reconciled to the total funds as shown in the Balance Sheet Notes as required by the said Statement.

All activities derive from continuing operations

The notes and schedule to the Statement of Financial Activities form an integral part of these accounts

6

Race Equality Network Limited Registered number: 05298722 Balance Sheet as at 31 March 2022

Notes
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due
within one year
5
Net current assets
Net assets
Capital and reserves
6
Income and expense account
Capital and reserves		 2022
£
7,000
198,573
205,573
(7,207)
198,366
198,366
198,366
198,366
-		 2021
£
3,200
392,896
396,096
(4,586)
391,510
391,510
391,510
391,510
-

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Dr Mohammed Salam Secretary

Approved by the board on 28 October 2022

7

Race Equality Network Limited Notes to the Accounts for the year ended 31 March 2022

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Charitable expenditure

Charitable expenditure includes all expenditure directly related to the objects of the charity and comprises the following :-

Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

Analysis of incoming resources and analysis of management and administration costs

The details required by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales are shown in the Statement of Financial Activities (income and expenditure account).

Equipment, furniture and it policy

These are written off through income and expenditure accounts.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8

Race Equality Network Limited Notes to the Accounts for the year ended 31 March 2022

2
(i) Donations and income generated as a charity
2022
£
Donations and grants
228,509
Adjustment to reserves
2,926
Interest receivable
91
(ii) Costs of activities in furtherance of the charity's objectives
Direct costs and administration costs
424,670
3
Employees
2022
Number
Average number of persons employed by the company
4
There were no employees with emoluments in excess of £50,000 per annum
4
Debtors
2022
£
Trade debtors
7,000
5
Creditors: amounts falling due within one year
2022
£
Trade creditors and accruals
5,785
Student loan
(4)
Pensions
597
Taxation and social security costs
829
7,207		 2021
£
605,596
-
34
222,749
2021
Number
4
2021
£
3,200
2021
£
3,700
-
-
886
4,586

6 Analysis of assets and liabilities representing each of the charity's funds

Representing capital reserves

Tangible fixed assets
Current Assets
Current Liabilities (creditors)
Long Term Liabilities (creditors)
At 31 March 2022
(Current year)		 £
-
22,385
-
-
22,385
Unrestricted
funds		 £
-
183,188
(7,207)
-
175,981
Restricted
funds		 £
-
-
-
-
-
Designated
funds		 £
-
205,573
(7,207)
-
198,366
Total
Funds

9

Race Equality Network Limited Notes to the Accounts for the year ended 31 March 2022

Tangible fixed assets
Current Assets
Current Liabilities (creditors)
Long Term Liabilities (creditors)
At 1 April 2021
(Previous year)		 £
-
18,613
-
-
18,613
Unrestricted
funds		 £
-
377,483
(4,586)
-
372,897
Restricted
funds		 £
-
-
-
-
-
Designated
funds		 £
-
396,096
(4,586)
-
391,510
Total
Funds

7 Related party transactions

There were no other related party transactions.

8 Controlling party

The directors (trustees) have control over the company.

9 Other information

Race Equality Network Limited is a private company limited by guarantee and incorporated in England. Its registered office is:

Grange Interlink Community Centre

Summerville Road Bradford BD7 1PX

10

Race Equality Network Limited
Detailed statement of financial activities
for the year ended 31 March 2022
This schedule does not form part of the statutory accounts
Unrestricted Restricted
Total
2022
2022
2022
Incoming Resources
£
£
£
Community Action Bradford and District/ Bradford CABAD
15,000
-
15,000
COVID Community Champion Programme
-
112,956
112,956
COVID Prevention Programme Grant
-
-
-
Public Health Commissioning
-
-
-
Other misc. income
747
13,801
14,548
City BMDC Grant
6,000
-
6,000
CBMDC ARG-VCS Members
-
29,992
29,992
NHS Bradford District & Craven Clinical Commissioning G
-
24,440
24,440
West Yorkshire Health & Care Partnership
-
25,573
25,573
Grants & Donations
21,747
206,762
228,509
Adjustment to reserves
-
2,926
2,926
Add: Interest receivable
91
-
91
Costs of activities in furtherance of the charity's objectives
Direct costs
Purchases
-
5,000
5,000
Covid Prevention Programmes and COB Partners
-
267,319
267,319
-
272,319
272,319
Administrative expenses
Employee costs:
Wages and salaries
-
86,045
86,045
Pensions
-
3,958
3,958
Employer's NI
-
2,673
2,673
Staff training, travel and welfare
-
1,440
1,440
Motor expenses
-
234
234
Entertaining
-
487
487
Other deductions
-
766
766
-
95,603
95,603
Premises costs:
Rent
10,000
-
10,000
Cleaning
40
-
40
10,040
-
10,040
General administrative expenses:
Telephone and internet
-
620
620
Postage
-
-
-
Stationery and printing
-
3,797
3,797
Subscriptions
-
243
243
Events Catering/refreshments
6,279
-
6,279
Insurance
1,247
-
1,247
Equipment expensed (equipment and furniture)
-
3,701
3,701
Equipment/ resources hire
-
102
102
Software and website
-
3,396
3,396
Sundry expenses
-
100
100
7,526
11,959
19,485
Legal and professional costs:
Accountancy fees
500
-
500
Consultancy fees
-
7,520
7,520
Advertising, marketing and promotions
-
19,203
19,203
500
26,723
27,223
Total administrative expenses
18,066
134,285
152,351
Net Movement in funds
3,772
(196,916)
(193,144)		 Total
2021
£
13,750
-
538,646
50,000
3,200
-
-
-
-
605,596
-
34
5,090
169,015
174,105
26,341
-
388
2,000
33
-
28,762
5,000
-
5,000
428
18
549
144
-
653
2,510
-
2,482
-
6,784
500
6,500
1,098
8,098
48,644
382,881

11