2021-08-31-accounts - Newham Community Project

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Registered number 06678865

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Report and Accounts

31 August 2021

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Report and accounts Contents

	Page
Directors' report	1
Accountants' report	2
Profit and loss account	3
Balance sheet	4
Notes to the accounts	5

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Registered number: 06678865 Directors' Report

The directors present their report and accounts for the year ended 31 August 2021.

Principal activities

The company's principal activity during the year continued to be provision of charitable services.

The Trustees decided that the unrestricted funds which have not been specifically designed for a specific use should be maintained at a level above 3 months expenditure. The trustees consider reserves at this level will ensure that, in event of a significant unexpected drop in income, they will continue the charities current activities while consideration is given to ways in which additional funds may be raised.

Directors and Trustees

The following persons served as directors during the year:

Rashid Majera (resigned on 22 February 2022) Husnara Mosoddik (resigned on 1 July 2022) Imram Tailor (resigned on 1 July 2022) Mrs Yasmin Ismail (appointed on 1 July 2022) Mrs Rizwana Kayaalp (appointed on 1 July 2022) Mr Mohammed Hussain (appointed on 21 June 2022)

Adnan Ahmed Ghauri (appointed on 22 February 2022 and resigned on 1 July 2022)

Directors' responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts 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 accounts 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.

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 20 November 2022 and signed on its behalf.

Rizwana Kayaalp Director

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Accountants' Report

Independent Examiner’s Report to the Trusteess of NEWHAM COMMUNITY PROJECT (Company limited by Guarantee)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity’s 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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 386 of the 2006 Act other than the requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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 (FRS102).

I have no concerns and have come across no matters in connection with my examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Plexal Accountants Ltd Association of Accounting Technicians

58 Marsh Wall Canary Wharf LONDON E14 9TP

20 November 2022

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Profit and Loss Account for the year ended 31 August 2021

Turnover (Unrestricted) Administrative expenses Operating profit (Deficit)/surplus on ordinary activities Tax on profit (Deficit)/surplus for the financial year Total Funds Brought Forward Total Funds Carried Forward	2021 £ 301,140 (188,882) 112,258 112,258 - 112,258 15,825 128,083	2020 £ 115,253 (74,943)
		40,310
		40,310 -
		40,310

		(24,485)

		15,825

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Registered number: 06678865 Balance Sheet as at 31 August 2021

Notes Fixed assets Tangible assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Funds for the charity Unrestricted funds Total charity funds	2021 £ 5,782 48,047 102,068 150,115 (27,814) 122,301 128,083 128,083 128,083	2020 £ 6,802 5,439 35,673 41,112 (32,089) 9,023 15,825 15,825 15,825	2020 £ 6,802 5,439 35,673 41,112 (32,089) 9,023 15,825 15,825 15,825

			15,825
			15,825
			15,825

The directors/trustees 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 charitable company to obtain an audit in accordance with section 476 of the Act.

The directors/trustess 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.

Rizwana Kayaalp Director Approved by the board on 20 November 2022

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Notes to the Accounts for the year ended 31 August 2021

1 Accounting policies

Status of the company

The charitable company is limited by guarantee and does not have share capital.

The liability of members is limited to £1 per member.

Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS102)(effective 1 January 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Newham community project meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern statement

The financial statements have been prepared on a going concern basis which assumes that the Company will continue to operate. The validity of this assumption is dependent upon the continuance of support from the Company’s key funders and in response to the progress made by the Company in pursuing a viable budget including the obtaining of further grants and other funds. The Company's current business plan shows that the Company will be able to operate in the foreseeable future. Based on this understanding, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments, which would result from the basis of preparation being inappropriate.

Funds

General accumulated funds are unrestricted funds available for general purposes and include funds designated for a particular purpose; the use of such funds remains at the discretion of the trustees.

Restricted funds are funds subject to conditions imposed by the donor or by specific terms of the appeal under which the funds are raised. The restrictive conditions are binding upon the Charitable Company.

Turnover

Items of income are recognised and included in the accounts when all of the following criteria are met:

The charity has entitlement to the funds;

any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;

there is sufficient certainty that receipt of the income is considered probable; and the amount can be measured reliably.

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Notes to the Accounts for the year ended 31 August 2021

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the direct costs of projects and activities undertaken to further the purposes of the charity and their associated support & governance costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Leasehold land and buildings Plant and machinery

30% on reducing balance 20% on reducing balance

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

As a registered charity no provision is considered necessary for taxation.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Turnover Rental Income (unrestricted) Donations (Unrestricted) Grants received After School Fees Other Income	2021 £ 218,452 69,464 3,522 9,702 301,140	2020 £ 9,567 90,678 10,970 4,038
		115,253

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Notes to the Accounts for the year ended 31 August 2021

3 Employees Average number of persons employed by the company 4 Tangible fixed assets Land and buildings £ Cost At 1 September 2020 33,510 Additions - At 31 August 2021 33,510 Depreciation At 1 September 2020 30,410 Charge for the year 1,328 At 31 August 2021 31,738 Net book value At 31 August 2021 1,772 At 31 August 2020 3,100 5 Debtors Trade debtors Prepayments 6 Creditors: amounts falling due within one year Trade creditors Other creditors (Loans)	2021 Number 3 Plant and machinery etc £ 22,340 1,080 23,420 18,638 772 19,410 4,010 3,702 2021 £ 46,797 1,250 48,047 2021 £ - 27,814 27,814	2020 Number 3
		Total £ 55,850 1,080
		56,930
		49,048 2,100
		51,148
		5,782
		6,802
		2020 £ 5,439 -
		5,439
		2020 £ 3,185 28,904
		32,089

7 Transactions with Trustees

The trustees did not receive any salary during the year. No expenses were paid to the Trustees. There were no transactions between the trustees and the charity.

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Notes to the Accounts

for the year ended 31 August 2021

8 Related party transactions

There has been no trading between the directors and the company.

9 Controlling party

The charity is controlled by the trustees.

10 Other information

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) is a private company limited by shares and incorporated in England. Its registered office is 259 Katherine Road, London, England, E7 8PP

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Detailed profit and loss account for the year ended 31 August 2021

Sales- Unrestricted Administrative expenses Operating profit Profit before tax	2021 £ 301,140 (188,882) 112,258 112,258	2020 £ 115,253 (74,943)
		40,310
		40,310

NEWHAM COMMUNITY PROJECT (Company limited by Guarantee) Detailed profit and loss account for the year ended 31 August 2021

Sales Sales Administrative expenses Employee costs: Wages and salaries Premises costs: Rent Light and heat General administrative expenses: Telephone and fax Stationery and printing Bank charges Covid 19- Student Hardship grants Covid 19-Foodbank expenses Depreciation Sundry expenses Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional	2021 £ 301,140 13,546 13,546 18,338 1,116 19,454 859 690 163 59,329 89,711 2,100 - 152,852 - 2,916 114 3,030 188,882	2020 £ 115,253
		16,748
		16,748
		15,255 -
		15,255
		490 1,075 131 30,305 7,542 2,253 795
		42,591
		100 - 249
		349

		74,943