FUN YE: eT
REGISTERED COMPANY NUMBER: 06679865 (England and Wales) REGISTERED CHARITY NUMBER: 1128622
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021 FOR
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
Christopher & Co Chartered Accountants 51a Anson Road Tufnell Park London N7 OAR
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 28 February 2021
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|Page|
|Report|of the|Trustees|1to3|
|Independent Examiner's|Report|4|
|Statement|of Financial|Activities|5|
|Balance|Sheet|6|to7|
|Notes|to|the|Financial|Statements|8|to|14|
|Detailed|Statement|of Financial|Activities|15|to|16|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
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REPORT OF THE TRUSTEES
for the year ended 28 February 2021
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 28 February 2021. 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).
COMMENCEMENT OF OPERATIONS
The charitable company commenced operations on 1 April 2011 following the transfer to it of the net assets and activities of the unincorporated association African Caribbean Leadership Council (Registered Charity No 293668).
OBJECTIVES AND ACTIVITIES
Objectives and aims To promote any charitable purpose for the benefit of the inhabitants of the London Borough of Haringey (and its environs) in particular for persons of African and Caribbean origin. It also promotes harmonious community relations.
Activities Prior to the COVID19 pandemic ACLC operates a community centre and provides a venue for various welfare, educational, training, family, social and cultural activities including: room and hall hire, community counselling & mediation, recreational services and activities for the elderly.
On 20 March 2020 the centre was closed due to the COVID-19 pandemic and currently remains closed.
Since its closure all centre based activities ceased and all related bookings had to be cancelled. The trustees, however, continued their duties and also met on line. In addition, due to a combination of cost minimization, local and central government support together with new funding opportunities ACLC continued to manage financially as well as to provide telephone and on line assistance and support to the local community.
It is hoped that the centre can fully re-open in the near future.
Volunteers
ACLC relies heavily on volunteers to promote and carry out its objectives.
FINANCIAL REVIEW
Financial activity The statement of financial activities as set out on page 5 shows that total incoming resources decreased by £39,553 to £80,795 this was due to an increases in income from Grants and donations of £48,987 and other income £24,210 offset by decrease in trading income due to the Centre's closure of £112,749. Total resources expended decreased by £50,172 to £66,344 mainly due to reduced running costs of £47,707 following the Centre's closure. As a result there was a net surplus of £14,451 compared with a net surplus of £3,832 in the previous year.
FUNDING SOURCES
Continued efforts are beg made to broaden the centre's activities and to seek funding from a diversity of sources.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document African Caribbean Leadership Company Limited (ACLO) is a private company, limited by guarantee, as defined by the Companies Act 2006 and without any share capital. It was registered as a charity on 18 March 2009.
ACLC was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and it is governed by its Articles of Association. In the event the charitable company is wound up each member would be required to contribute an amount not exceeding f 1.
Recruitment and appointment of new trustees
Trustees are appointed and retire in accordance with the requirements of the Articles of Association. A retiring trustee shall be eligible for re-election. The trustees are elected by the members at the Annual General Meeting. All trustees must be members of the charitable company. No trustee may serve as an employee.
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
REPORT OF THE TRUSTEES
for the year ended 28 February 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The board of trustees administers the charitable company. The board of trustees meets regularly throughout the year and is responsible for ACLC's strategic direction and policy. At present the board has trustees from a variety of professional backgrounds relevant to the work of the charitable company. A manager may be appointed by the trustees to manage the day to day operations of the charitable company. To facilitate effective operations, the manager can be delegated authontty, within terms of delegation approved by trustees. Currently, ACLC operates without a manager.
Induction and training of new trustees
Most new trustees are already familiar with the practical work of the charitable company having visited ACLC and observed its activities prior to their appointment.
Additionally, new trustees are briefed regarding trustees’ powers, duties and obligations and are provided with copies of the Memorandum and Articles of Association, the latest report of the trustees and financial statements, and other relevant information.
Risk management
The trustees have a duty to identify and review the risks to which the charitable company is exposed and to ensure appropriate systems and controls are in place to provide reasonable assurance against the risks it faces.
These systems and procedures cover such matters as health and safety, internal controls to provide assurance against fraud and error, and the diversity of funding.
Reserves policy
The trustees aim to maintain unrestricted cash reserves of at least one month's total expenditure.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06679865 (England and Wales)
Registered Charity number 1128622
Registered office 9 Clarendon Road London NB OD]
Trustees
Ms L Blackman Ms J MF Stephens Ms CP Higgins G Edwards Ms V Graham Ms Y Elkana - resigned 20.9.20 Ms CP Lomotey - resigned 20.9.20 O A Plummer - resigned 20.9.20 Ms G Robinson - resigned 20.9.20 Independent examiner Nicholas Christopher Christopher & Co Chartered Accountants 51a Anson Road. Tufnell Park London N7 OAR
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
REPORT OF THE TRUSTEES
for the year ended 28 February 2021
Approved by order of the board of trustees on \SSeptember 2021 and signed on its behalf by:
MS] MCE Steph s Traste
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
Independent examiner's Company’)
report to the trustees of African Caribbean Leadership Company Limited (‘the
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 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 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
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Nicholas Christopher Christopher & Co Chartered Accountants 51a Anson Road Tufnell Park London N7 OAR
Date: [4 September 2021
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 28 February 2021
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|---|---|---|---|---|---|---|
|28.2.21|29.2.20|
|Unrestricted|Restricted|Total|Total|
|Notes|funds£|funds£|funds£|funds£|
|INCOME|AND ENDOWMENTS|FROM|
|Donations|and|legacies|51,775|-|51,775|2,788|
|Other trading|activities|2|3,881|-|3,881|116,630|
|Investment|income|3|-|-|-|1|
|Other income|25,139|-|25,139|929|
|Total|80,795|-|80,795|120,348|
|EXPENDITURE|ON|
|Raising funds|64,771|-|64,771|112,478|
|Other|1,573|,|-|1,573|4,038|
|Total|66,344|.|66,344|116,516|
|NET INCOME|14,451|-|14,451|3,832|
|RECONCILIATION OF FUNDS|
|Total funds|brought forward|7,197|-|75197|3,365|
|TOTAL|FUNDS CARRIED FORWARD|21,648|-|21,648|7,197|
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The notes form part of these financial statements
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
BALANCE SHEET
At 28 February 2021
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|---|---|---|---|---|---|---|---|
|28.2.21|29.2.20|
|Unrestricted|Restricted|Total|Total|
|Notes|funds£|funds£|funds£|funds£|
|FIXED ASSETS|
|Tangible|assets|8|5,045|-|5,045|5,911|
|Investments|9|36,000|-|36,000|36,000|
|41,045|-|41,045|41,911|
|CURRENT|ASSETS|
|Stocks|10|447|-|447|1,179|
|Debtors|11|1,698|-|1,698|3,034|
|Cash|at bank and|in hand|55,615|83,077|138,692|23,412|
|57,760|83,077|140,837|27,625|
|CREDITORS|
|Amounts|falling due within one|year|12|(77,157)|(83,077)|(160,234)|(62,339)|
|NET CURRENT ASSETS/(LIABILITIES)|(19,397)|-|(19,397)|(34,714)|
|TOTAL ASSETS LESS CURRENT|
|LIABILITIES|21,648|-|21,648|7,197|
|NET ASSETS|21,648|-|21,648|7,197|
|FUNDS|13|
|Unrestricted|funds|21,648|7,197|
|TOTAL FUNDS|21,648|7,197|
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The notes form part of these financial statements
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continued...
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
BALANCE SHEET - CONTINUED
At 28 February 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) __ preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on £.2September 2021 and were signed on its behalf by:
Ms J MtF Stephens -‘Trustee \
The notes form part of these financial statements
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS for the year ended 28 February 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 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)', Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery
-20% on reducing balance
Fixed asset investments
These are carried at the trustees' estimate of their current market value.
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| 28.2.21 | 29220 | |
|---|---|---|
| Centre hire Cateringincome Barincome |
£ 3,165 90 626 |
f 99,853 2,607 14,170 |
| 3,881 | 116,630 |
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EEEESTSSSso OUlc AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 28 February 2021
- INVESTMENT INCOME
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|---|---|---|---|---|---|---|
|28.2.21|29.2.20|
|Deposit|account|interest|£|-|Mm|1|
|4.|NET INCOME/(EXPENDITURE)|
|Net income/ (expenditure)|is|stated|after charging/ (crediting):|
|28.2.21|29.2.20|
|Depreciation|£|£|
|Hire|- owned assets|1,262|1,478|
|of plant and machinery|1,002|1,002|
|5.|TRUSTEES'|REMUNERATION AND BENEFITS|
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There were no trustees’ remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020.
Trustees' expenses
Trustees’ expenses amounted to £2,612 (2019: £4,790).
- STAFF COSTS
||
The average monthly number of employees during the year was as follows:
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|---|---|---|---|---|
|28.2.21|29.2.20|
|Administrative|duties|and caretaking|6|6|
|No|employees|received emoluments|in excess|of £60,000.|
|COMPARATIVES FOR THE FOR THE THE|STATEMENT OF FINANCIAL OF FINANCIAL FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|INCOME|AND ENDOWMENTS FROM|£|£|£|
|Donations|and legacies|2,788|-|2,788|
|Other trading|activities|116,630|-|116,630|
|Investment|income|1|-|1|
|Other income|929|-|929|
|Total|120,348|.|120,348|
|EXPENDITURE|ON|
|Raising funds|112,478|-|112,478|
|Other|4,038|-|4,038|
|Total|116,516|-|116,516|
|NET INCOME|3,832|.|3,832|
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7s COMPARATIVES FOR THE FOR THE THE STATEMENT OF FINANCIAL OF FINANCIAL FINANCIAL ACTIVITIES
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
| NOTESTOTHE FINANCIAL STATEMENTS - CONTINUED | NOTESTOTHE FINANCIAL STATEMENTS - CONTINUED | |||
|---|---|---|---|---|
| forthe | yearended28February2021 | |||
| Ts | COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES - continued | |||
| Unrestricted funds |
Restricted funds |
Total funds |
||
| £ | £ | £ | ||
| RECONCILIATIONOF FUNDS | ||||
| Totalfunds broughtforward | 3,365 | - | 3,365 | |
| TOTALFUNDSCARRIEDFORWARD | 7,197 | - | 7,197 | |
| 8. | TANGIBLE FIXEDASSETS | |||
| Plantand | Fixtures and | |||
| machinery | fittings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 March2020 | 22,455 | 9,317 | 31,772 | |
| Additions | - | 396 | 396 | |
| At28February2021 | 22,455 | 9,713 | 32,168 | |
| DEPRECIATION | ||||
| At 1 March 2020 | 18,423 | 7,438 | 25,861 | |
| Charge foryear | 253 | 1,009 | 1,262 | |
| At28February2021 | 18,676 | 8,447 | 27,123 | |
| NETBOOKVALUE | ||||
| At28February2021 | 3,779 | 1,266 | 5,045 | |
| At29 February2020 | 4,032 | 1,879 | 5,911 | |
| 9. | FIXEDASSETINVESTMENTS | |||
| 28.2.21 | 29.2.20 | |||
| £ | iE | |||
| Other | 36,000 | 36,000 | ||
| There were no investment assets outside theUK. | ||||
| Investments (neitherlisted norunlisted) were as follows: | ||||
| 28.2.21 | 29.2.20 | |||
| £ | i | |||
| Libraryofbooks | 36,000 | 36,000 | ||
| 10. | STOCKS | |||
| 28.2.21 | 29.2.20 | |||
| £ | £ | |||
| Stocks | 447 | 1,179 |
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 28 February 2021
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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|---|---|---|---|---|---|---|---|
|28.2.21|292.20|
|&|£|
|Other debtors|1,698|3,034|
|122.|CREDITORS: AMOUNTS|FALLING DUE|WITHIN ONE|YEAR|
|28.2.21|29.2.20|
|£|Zi|
|Trade|creditors|129,216|27,405|
|Other|creditors|31,018|34,934|
|160,234|62,339|
|B.|MOVEMENT|IN FUNDS|
|Net|
|movement in|
|At|1.3.20|funds|At 28.2.21|
|£|£|£|
|Unrestricted|funds|
|General fund|(6,645)|15,680|9,035|
|Bar club|18,152|(1,157)|16,995|
|ACLC Counselling & Mediation|(4,310)|(72)|(4,382)|
|7,197|14,451|21,648|
|TOTAL FUNDS|7,197|14,451|21,648|
|Net movement|in funds,|included|in the|above|are|as|follows:|
|Incoming|Resources|Movement in|
|resources|expended|funds|
|£|£|£|
|Unrestricted|funds|
|General fund|80,169|(64,489)|15,680|
|Bar club|626|(1,783)|(1,157)|
|ACLC Counselling & Mediation|-|(72)|(72)|
|80,795|(66,344)|14,451|
|TOTAL FUNDS|80,795|(66,344)|14,451|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 28 February 2021
1. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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|---|---|---|---|---|---|---|
|Net|
|movement in|
|At|1.3.19|funds|At 29.2.20|
|£|£|£|
|Unrestricted|Funds|
|General fund|(10,450)|3,805|(6,645)|
|Bar club|17,374|778|18,152|
|ACLC Counselling &|Mediation|(3,559)|(751)|(4,310)|
|3,365|3,832|7,197|
|TOTAL FUNDS|3,365|3,832|7,197|
|Comparative net movement|in funds,|included|in the above|are|as|follows:|
|Incoming|Resources|Movement|in|
|resources|expended|funds|
|Unrestricted|funds|&|£|£|
|General fund|105,511|(101,706)|3,805|
|Bar club|14,172|(13,394)|778|
|ACLC Counselling &|Mediation|665|(1,416)|(751)|
|120,348|(116,516)|3,832|
|TOTAL FUNDS|120,348|(116,516)|3,832|
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A current year 12 months and prior year 12 months combined position is as follows:
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|---|---|---|---|---|
|Net|
|movement|in|
|At|1.3.19|funds|At 28.2.21|
|Unrestricted|funds|£|£|&|
|General fund|(10,450)|19,485|9,035|
|Bar club|17,374|(379)|16,995|
|ACLC Counselling &|Mediation|(3,559)|(823)|(4,382)|
|TOTAL FUNDS|3,365|18,283|21,648|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 28 February 2021
-
RELATED PARTY DISCLOSURES
-
LEASE COMMITMENTS
B. MOVEMENT IN FUNDS- continued
follows:A current year 12 months and prior year 12 months combined het movement in funds, included in the above are as
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|---|---|---|---|---|
|Incoming|Resources|Movement in|
|resources|expended|funds|
|Unrestricted|funds|£|£|£|
|General fund|185,680|(166,195)|19,485|
|Bar club|14,798|(15,177)|(379)|
|ACLC Counselling 8¢|Mediation|665|(1,488)|(823)|
|201,143|(182,860)|18,283|
|TOTAL FUNDS FUNDS|201,143|(182,860)|18,283|
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TOTAL FUNDS FUNDS
There were no related party transactions for the year ended 28 February 2021.
The charitable company’s community centre building is owned by the London Borough of Haringey. The premises are occupied under a 125 year lease agreement which commenced on 25 January 1990 under which no rent is payable to the landlord but the organisation is responsible for the upkeep of the internal decorations and for other running costs of the building generally. The occupation of the building is conditional upon it being used for the activities of a community centre and for no other purpose. Given this overriding condition the trustees do not consider that the provision of the use of the building has any financial "market value" in the generally accepted sense, and accordingly no value is attributed thereto in the financial statements.
- |PURPOSE OF FUNDS
General Fund: This fund represents the income and expenditure, assets and liabilities relating to room hire and the running and supervision of the day to day activities at the centre including caretaking. Following the cessation of Pund.external funding the General Fund also funds some of the activities previously undertaken by the Elderly Day Care
Bar club: This represents the income and expenditure, assets and liabilities relating to operating the bar club.
ACLC Counselling and Mediation Services: This fund is used to facilitate a counselling and mediation service which has been in existence since 1994, to assist residents on a one to one basis on a number of social and domestic issues. The main objective of the service is the provision of a culturally sensitive and safe environment for users to express and present their issues without prejudice; and to provide a confidential and understanding approach to meet the needs of the boroughs African/ African Caribbean and other ethnic minorities. This service is especially dedicated to supporting users with mental health and other psychological needs.
Elderly Day Care: This fund was used to carry out the African Caribbean Elderly Day Care Service, which was set up in 1998 as a joint project between the African Caribbean Leadership Council and Haringey Council. This project was the result of Haringey's commitment to meet the day care needs of older people from the African/African Caribbean community using a positive and culturally sensitive approach. Such services include providing residents who are of pensionable age with a three course meal and recreational activities suitable for their age and condition. Following the cessation of external funding the activities previously undertaken by this fund were reduced and are now funded by the General Fund.
COVID-19 Response Line: This fund was set up following the receipt of National Lottery funding to provide telephone information and support to the community relating to COVID-19.It is a restricted fund which means that monies received are ring-fenced and can only be spent in accordance with terms specified by the donor.
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 28 February 2021
- SHARE CAPITAL
The charitable company is limited by guarantee and does not have a share capital. Each member's guarantee is limited to £1.
- COVID-19 PANDEMIC
As more fully explained in the Report of the Trustees, during the year end, the center was forced to close due to the COVID-19 pandemic. However, it has managed financially and continues to provide non centre based services to the local community. Furthermore it is hoped it may fully re-open in the near future.
- COMPARATIVE FIGURES
These have been regrouped, where necessary, to provide a fair comparison with those of the current year. Such regroupings do not affect previously reported total incoming and expended resources or net incoming and expended resources.
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