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 2022
FOR
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
Christopher & Co Chartered Accountants 51a Anson Road Tufnell Park London N7 OAR
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 28 February 2022
| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement ofFinancial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| NotestotheFinancialStatements | 8 | to | 14 |
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED (REGISTERED NUMBER: 06679865)
REPORT OF THE TRUSTEES for the Year Ended 28 February 2022
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 2022, 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 (PRS 102) (eftective 1 January 2019).
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
‘Yo promote any charitable purpose for the benefit of the inhabitants of tae 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 COVID-19 pandemic ACLC operated a cultural centre (@est Indian Cultural Centre (WICC)) and provided a venue for various welfare, educational, training, family, social and cultural activicies including: room and hall hire, community counselling & mediation, recreational services and activities for the elderly.
On 20) March 2020 the WICC was closed due to the COVID-19 pandemic. However, due to Health & Safety issues the WICC did not re-open when restrictions were lifted, and all caretaking staff were made redundant. Currently the WICC remains closed.
Since its closure all WICC based activities ceased and all related bookings were cancelled. The trustees, however, continued their duties and also met online. In addition, due to a combination of cos: minimization, local and central government support together with new funding opportunities ACLC managed financially and continued to provide telephone and online assistance and support to the local community.
It is hoped that the WICC may 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 £27,801 to £69,760. This decrease was in part due to a one off contribution of £25,000 made to ACLC in the previous year for use of its car park, whilst major gas works were carried out. Total resources expended decreased by £12,009 to £71,101 mainly due to reduced running costs following the centre's closure. As a result there was a net deficit of £1,341 compared with a net surplus of £14,451 in the previous year.
FUNDING SOURCES
Continued efforts are being made to broaden ACLC's activities and to seek funding from a diversity of sources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
African Caribbean Leadership Company Limited (ACJ.C) is a private company, limited by guarantec, 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 execeding £1.
Recruitment and appointment of new trustees
Trustees are appointed and retire in accordance with the requirements of the Articles of Association. A rctiring 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.
Page 1
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED (REGISTERED NUMBER: 06679865)
REPORT OF THE TRUSTEES
for the Year Ended 28 February 2022
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. ‘Yo facilitate effective operations, the manager can be delegated authority, within terms of delegation approved by trustees. During the year a Manager was temporarily appointed, after obtaining funding for this purpose. 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 bricfed regarding trustecs’ powers, duties and obligations and ate provided with copics 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 N8 0D]
Trustees
Ms LM Blackman Ms ] M F Stephens Ms C P Fliggins G Edwards (resigned 19.9,21) Ms V Graham L B Hines (appointed 19.9.21) Ms C P Lomotey (appointed 19.9.21) MsJ Francis (appointed 12.12.21) PS Fell (appointed 12.12.21) R Nelson (appointed 19.9,21)
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED (REGISTERED NUMBER: 06679865)
REPORT OF THE TRUSTEES
for the Year Ended 28 February 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Nicholas Christopher Christopher & Co Chartered Accountants 51a Anson Road Tufnell Park London N7 OAR
Approved by order of the board of trustees on 6 February 2023 and signed on its behalf by:
Ms C P Lomotey - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
Independent examiner's report to the trustees of African Caribbean Leadership Company Limited (‘the Company’) 1 report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2022.
Responsibilities and basis of report
As the charity's teustees of the Company (and also its directors for the purpuses of company law) you are responsible for che preparation of the accounts in accorcance 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, 1 report in respect of my cxamination of your charity's accounts as carticd 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) (6) of the 2011 Act.
Independent examiner's statement
I have completed my examination. J 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 : theaccountsaccountsgivedoa trucnot andcomplyfair withview thewhichaccountingis not a matterrequirements consideredof sectionas part3%6of anof theindependent2006 Actcxamination;other than anyor requirement that the the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice
4, 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.
Nicholas Christopher Christopher & Co Chartered Accountants 5la Anson Road Tufnell Park London N7 OAR
6 February 2023
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 28 February 2022
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|28.2.22|28.2.2|
|Unrestricted|Restricted|Total|Toral|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND ENDOWMENTS|FROM|
|Donations|and|legacies|47,621|19,192|66,813|68,541|
|Other|trading|activities|2|2,707|-|2,707|3,881|
|Other|income|240|-|240|25,139|
|Total|50,568|19,192|69,760|97,561|
|EXPENDITURE|ON|
|Raising|funds|47,879|19,192|67,071|81,537|
|Other|4,030|-|4,030|1,573|
|Total|51,909|19,192|71,101|83,110|
|NET INCOME/ (EXPENDITURE)|(1,341)|-|(1,341)|14,451|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|21,648|-|21,648|7,197|
|TOTAL FUNDS|CARRIED|FORWARD|20,307|-|20,307|21,648|
----- End of picture text -----
The notes form part of these financial statements
Page 5
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED (REGISTERED NUMBER: 06679865)
BALANCE SHEET
28 February 2022
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|28.2.22|28.2.21|
|Unrestricted|Restricted|Total|Total|
|Notes|funds£|funds£|funds£|funds£|
|FIXED ASSETS|
|Tangible|assets|7|25,277|-|25,277|5,045|
|Investments|8|36,000|-|36,000|36,000|
|61,277|-|61,277|41,045|
|CURRENT|ASSETS|
|Stocks|9|440|-|440|447|
|Debtors|10|1,937|-|1,937|1,698|
|Cash|at|bank|and|in|hand|11,680|-|11,680|138,692|
|44,057|-|14,057|140,837|
|CREDITORS|
|Amounts|falling duc|within|one|year|1|(55,027)|-|(55,027)|(160,234)|
|NET CURRENT ASSETS|(40,970)|-|(40,970)|(19,397)|
|TOTAL|ASSETS|LESS|CURRENT|
|LIABILITIES|20,307|-|20,307|21,648|
|NET ASSETS|20,307|-|20,307|21,648|
|FUNDS|12|
|Unrestricted|funds|20,307|21,648|
|TOTAL FUNDS|20,307|21,648|
----- End of picture text -----
The charitable company ts entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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
-
(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 cach financial year and of its surplus or deficit for cach financial year in accordance with the recuirements 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.
The notes form part of these financial statements
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED (REGISTERED NUMBER: 06679865)
BALANCE SHEET- continued
28 February 2022
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 6 February 2023 and were signed on its behalf by:
C P Lomotey - Trustee
The notes form part of these financial statements
Page 7
AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 28 February 2022
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is 2 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) (eftective 1 January 2019)', Financial Reporting Standard 102 “he Finaacial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companics 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 entidement 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 ona basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates ir. order to write off cach asset over its estimated useful life.
Plant and machinery ete -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 ts 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 Activites on a straight line basis over the period of the lease.
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 28 February 2022
- OTHER TRADING ACTIVITIES
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|28.2.22|28.2.21|
|£|£|
|Centre|hire|2,700|3,165|
|Catering income|-|90|
|Bar|income|7|626|
|2,707|3,881|
|3.|NET INCOME/|(EXPENDITURE)|
|Net income/ (expenditure)|is|stated|after|charging/ (crediting):|
|28.2.22|28.2.21|
|£|£|
|Depreciation|-|owned|asscts|1,010|1,262|
|Hire|of plant|and|machinery|965|1,002|
----- End of picture text -----
4, TRUSTEES' REMUNERATION AND BENEFITS
‘here were no trustees' remuneration or other benefits for the year ended 28 [ebruary 2022 nor for the year ended 28 February 2021.
Trustees’ expenses
‘l'rustees’ expenses amounted to {Nil (2021: (40).
STAFF COSTS
The average monthly number of employees during the year was as follows:
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||||||||
|---|---|---|---|---|---|---|
|28.2.22|28.2.21|
|Administrative|duties|and|caretaking|2|6|
|No|employees|received|emoluments|in|excess|of £60,000.|
|COMPARATIVES|FOR THE|STATEMENT|OF|FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|INCOME AND ENDOWMENTS|FROM|&£|£|£|
|Donations|and|legacies|51,775|16,766|68,541|
|Other|trading|activities|3,881|-|3,881|
|Other|income|25,139|-|25,139|
|Total|80,795|16,766|97,561|
|EXPENDITURE|ON|
|Raising|funds|64,771|16,766|81,537|
|Other|1,573|-|1,573|
|Total|66,344|16,766|83,110|
----- End of picture text -----
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2022
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|6.|COMPARATIVES|FOR THE|STATEMENT|OF|FINANCIAL ACTIVITIES|-|continued|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|NET|INCOME|__14,451ff|ff-|__f14,451|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|7,197|-|7,197|
|TOTAL|FUNDS|CARRIED|FORWARD|21.648|-|21,648|
|7.|TANGIBLE|FIXED ASSETS|
|T‘ixtures|
|Plant|and|and|
|machinery|fittings|Totals|
|b|£|£|
|COST|
|At|1|March|2021|22,455|9,713|32,168|
|Additions|21,242|-|21,242|
|At|28|Pebruary|2022|43,697|9,713|53,410|
|DEPRECIATION|
|At|1|March|2021|18,676|8,447|27,123|
|Charge|for|year|202|808|1,010|
|At 28|February|2022|18,878|9,255|28,133|
|NET|BOOK VALUE|
|At|28|February|2022|24,819|458|25,277|
|At|28|February|2021|3,779|1|266|5,045|
|Additions|during|the|year|were|funded|by|the|National|Lottery.|
|8.|FIXED|ASSET|INVESTMENTS|
|28.2.22|28.2.21|
|£|£|
|Other|36,000|36,000|
|There|were|no|investment|assets|outside|the|UK.|
|Investments|(neither|listed|nor|unlisted)|were|as|follows:|
|28.2.22|28.2.21|
|£|£|
|Library|of books|36,000|36,000|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 28 February 2022
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|9.|STOCKS|
|28.2.22|28.2.21|
|£|£|
|Stocks|440|447|
|10.|DEBTORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|28.2.22|28.2.21|
|£|£|
|Other debtors|1,937|1,698|
|11.|CREDITORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR|
|28.2.22|28.2.21|
|£|£|
|Trade|creditors|32,604|129,216|
|Other creditors|22,423|31,018|
|55,027|160,234|
|LT|MOVEMENT IN FUNDS|
|Net|
|movement|At|
|At|1.3.21|in|funds|28.2,22|
|£|£|£|
|Unrestricted|funds|
|General|fund|9,035|(751)|8,284|
|Bar|club|16,995|(G05)|16,690|
|ACLC|Counselling &|Mediation|(4,382)|(285)|(4,667)|
|21,648|(1,341)|20,307|
|TOTAL FUNDS|21,648|(1,341)|20,307|
|Net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resourees|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|50,560|(51,311)|(751)|
|Bar|club|8|(313)|(305)|
|ACLC|Counselling &|Mediation|-|(285)|(285)|
|50,568|(51,909)|(1,341)|
|Restricted|funds|
|Covid-19|Response|Line|19,192|(19,192)|-|
|TOTAL FUNDS|69,760|(71,101)|(1,341)|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28 February 2022
12, MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
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||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.3.20|in|funds|28.2.21|
|‘s|£|£|
|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|7197|14,451|21,648|
|Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|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|
|Restricted|funds|
|Covid-19|Response|Line|16,766|(16,766)|-|
|TOTAL FUNDS|97,561|(83,110)|14,451|
|A|current|year|12|months|and|prior|year|12|months|combined|position|is|as|follows:|
|Net|
|movement|At|
|At|1.3.20|in|funds|28.2.22|
|&|£|£|
|Unrestricted|funds|
|General|fund|(6,645)|14.929|8,284|
|Bar|club|18,152|(1,462)|16,690|
|ACLC|Counselling &|Mediation|(4,310)|G57)|4,667)|
|7,197|13,110|20,307|
|TOTAL FUNDS|7197|13,110|20,307|
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 28 February 2022
12. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|L|
|Unrestricted|funds|
|General|fund|130,729|(115,800)|14,929|
|Bar|club|634|(2,096)|(1,462)|
|ACLC|Counselling &|Mediation|-|(357)|(357)|
|131,363|(118,253)|13,110|
|Restricted|funds|
|Covid-19|Response|Tine|35,958|(35,958)|-|
|TOTAL FUNDS|167,321|(154.211)|13,110|
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RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2022.
- LEASE COMMITMENTS
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 1s 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 valuc" in the gencrally accepted sense, and accordingly no valuc is attributed thereto in the financial statements.
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AFRICAN CARIBBEAN LEADERSHIP COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 28 February 2022
- PURPOSE OF FUNDS
General Fund: This fund represented 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 external funding the General Fund also finances some of the activities previously undertaken by the Elderly Day Care Fund.
Bar club: ‘Vhis fund represented the income and expenditure, assets and liabilities relating to operating a bar club.
ACLC Counselling and Mediation Services: This fund was used to facilitate a counsclling 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 This fund was the result of a commitment to meet the day care needs of older people from the Aftican/Aftican Caribbean community. Such services included 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 were funded by the General Tund.
The above activities were suspended on the closure of the centre.
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 ate ting-fenced and can only be spent in accordance with terms specified by the funding source.
Postcode Society Trust: This fund was sct up to administer a grant reccived from the Postcode Lottery to fund a manager for ACV. It is a restricted fund to be spent in accordance with the terms of the grant.
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 AND CENTRE CLOSURE
As more fully explained in the Report of the Trustees, during the previous financial year, the centre was torced to close due to the COVID-19 pandemic. It did not re-open, when restrictions were lifted, due to Health & Safety issues, Nevertheless, ACLC managed financially and continued to provide non-centre based services to the local community. It is hoped the it may 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 regrouping does not affect previously reported assets and liabilities, or net incomiug/expended LeSUUICES.
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This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.