Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
SUNDERLAND BLACK AND MINORITY ETHNIC NETWORK LIMITED
Directors Report and Financial Statements For the period 1[st] April 2020 – 31[st] March 2021
Company No. 06825908
Charity No. 1130886
Prepared By:
Julie Maxwell MICB 11 Edith Street Jarrow NE32 5HS
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
Legal and Administrative
Registered office address
Sunderland Black and Minority Ethnic Network
30 Tatham Street Sunderland SR1 2QD
Company Number: 06825908
Charity Number: 1130886
Officers
Rachidy Bikaya - Chair Michal Chantkowski - Secretary Abu Shama – Treasurer
Kamaraeswaradas Ramanathas - Director
Bankers
HSBC Bank
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886 The directors for the purposes of company law have pleasure in presenting their report and the unaudited financial statements of Sunderland Black and Minority Ethnic Network Ltd (The Company) for the period ended 31[st] March 2021
Principle Activity
The objects of The Company are to carry on activities, which benefit the community, and in particular (without limitation)
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To promote the effective use of charitable resources for the benefit of the public and black and minority (BME) charities and voluntary organisations in Sunderland and the North East
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To promote the BME voluntary sector for the benefit of the public in Sunderland and the North East.
Statement of trustee’s responsibilities
The directors for the purposes of company law are responsible for preparing the Directors Annual Report and Financial Statements in accordance with applicable law and UK Accounting standards.
Company Law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the company and incoming resources and application of resources, including the income and expenditure, of the company for that year preparing the financial statements the directors are required to:
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Select suitable accounting policies and apply them consistently
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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 company will continue in operation
The Directors are responsible for keeping accounting records that 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.
This report has been prepared in accordance with the special provisions relating to small companies within part 15 of the companies Act 2006.
On behalf of the board
Director Signature …………………………………………………………. Name …………………………………………………..
Date …………………………………………………………………………………
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886 Independent Examiners Report
I report on the financial statements of The Company for the period ended 31[st ] March 2021.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention:
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(1) Which gives me reasonable cause to believe that, in any material respect, the requirements:
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i. To keep accounting records in accordance with section 386 of the Companies Act 2006; and
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ii. To prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective January 2015);
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(2) To which, in my opinion, attention should be drawn in order to enable to proper understanding of the accounts to be reached.
Date 16/12/2021
Signed
Julie Maxwell – Independent Examiner
MICB 11 Edith Street Jarrow Tyne and Wear NE32 5HS
This page does not form part of the statutory financial statements
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886 Income and Expenditure Account
Period ended 31/03/2021
| Income Expenditure Operating Surplus Interest receivable and similar income Surplus on ordinary activities before taxation Tax surplus on ordinary activities 3 March 2019 (20%) Surplus of the financial year |
2021 £ 70,744 12,812 |
|---|---|
| 57,932 | |
| 57,932 0 |
|
| 57,932 |
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886 Statement of Financial Position
period ended 31/03/2021
| Income Grant Income Other Income Bank Interest Misc Income Total Income Payments Staff Costs Running Costs Governance Events Travel and Subs Consultants Total Payments Net Receipts Transfer between funds Balance at 01/04/2020 Balance at 31/03/2021 |
2021 2021 2021 Restricted Income £ Unrestricted Income £ Total £ 40,289 30,454 70,743 0 0 0 |
2020 Total £ 0 0 100 |
|---|---|---|
| 40,289 30,454 70,743 7,026 0 7,026 1,382 0 1,382 0 883 883 1,200 0 1,200 262 0 262 2,058 0 2,058 |
100 218 1167 350 1709 35 885 |
|
| 11,928 883 12,811 |
4,363 | |
| 28,361 29,571 57,932 -4,263 |
||
| 8282 -121 8,161 |
12424 | |
| 36,643 29,450 66,093 8,161 |
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
| Balance Sheet as at 31/03/2021 Fixed Assets Current Assets Debtors Deposits at Cash and Bank Current Liabilities Creditors: Short Term Prepayments Current Assets less Current Liabilities Total Assets less Current Liabilities Long Term Liabilities Total Assets Less Total Liabilities Represented By: Balance Bfwd Profit and Loss Account Balance |
2021 £ 66,617 350 174 |
2021 £ 0.00 66,617 524 66,093 66,093 0 |
2020 £ 175 8,336 |
2020 £ 0.00 8,511 350 8,161 8,161 0 |
||
|---|---|---|---|---|---|---|
| 350 0 |
||||||
| 66,093 | 8,161 | |||||
| 8,161 57,932 |
12,424 -4,263 |
|||||
| 66,093 | 8,161 |
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(A) FOR THE YEAR IN QUESTION, THE COMPANY WAS ENTITLED TO EXEMPTION (UNDER SECTIONS 475 AND 477 OF THE COMPANIES ACT 2006);
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(B) NO MEMBER OR MEMBERS ELIGIBLE TO DO SO HAVE DEPOSITED A NOTICE REQUESTING AN AUDIT WITHIN THE SPECIFIED TIME PERIOD; AND
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(C) THE DIRECTORS ACKNOWLEDGE THEIR RESPONSIBILITIES FOR COMPLYING WITH THE REQUIREMENTS OF THE COMPANIES ACT 2006 WITH RESPECT TO ACCOUNTING RECORDS AND FOR PREPARING ACCOUNTS WHICH GIVE A TRUE AND FAIR VIEW OF THE STATE OF AFFAIRS OF THE COMPANY AS AT THE END OF THE FINANCIAL YEAR AND OF ITS PROFIT OR LOSS FOR THE FINANCIAL YEAR IN ACCORDANCE WITH THE REQUIREMENTS OF SECTIONS 394 AND 395 (DUTY TO PREPARE INDIVIDUAL COMPANY ACCOUNTS AND APPLICABLE ACCOUNTING FRAMEWORK), AND WHICH OTHERWISE COMPLY WITH THE REQUIREMENTS OF THE COMPANIES ACT 2006 RELATING TO ACCOUNTS, SO FAR AS APPLICABLE TO THE COMPANY.
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(D) THESE FINANCIAL STATEMENTS HAVE BEEN PREPARED IN ACCORDANCE WITH THE SPECIAL PROVISIONS FOR SMALL COMPANIES UNDER PART 15 OF THE COMPANIES ACT 2006 AND WITH FINANCIAL REPORTING STANDARD FOR SMALLER ENTITIES
Approved by the Board for issue on _______
Director Name ………………………………………………………. Director Signature …………………………………………………….
Company No. 06852908
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886 Notes
1. Accounting Policies
1.1 Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with the special provisions of Part 15 of the Companies Act 2006 and the Financial Reporting Standard for Smaller Entities (effective April 2008)
1.2 Income
Income from fees is recognised in the accounts when invoiced unless it relates to future accounting periods, in which case it is deferred and included in creditors
Grants / Income receivable are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate specifically to a future accounting period, in which case, they are deferred.
Where a grant is received relating to a future accounting period, the profit and loss account shows the gross amount together with the changes in the amount deferred to future accounting periods. Deferred grant income at the year-end is included in creditors.
1.3 Expenditure
Expenditure is brought in to the financial statements on the accruals basis
1.4 Tangible fixed assets and depreciation
Fixed Assets are initially recorded at cost
Depreciation is calculated so as to write off the cost of the assets, less its estimated residual value, over the useful economic life of that asset as follows:
20% straight line
2 Operating Profit
2021 £ Operating profit is stated after charging: 57,932 Depreciation of owned fixed assets 0
Operating profit is stated after charging: 57,932
57,932
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
3 Taxation on ordinary activities
2021 Current Tax £ Tax based on period 31st March 2021 0 Amount written back from previous period 0 Tax Charge to Income and Expenditure 0 4 Tangible Fixed Assets £ Net Book Value on transfer 0 Additions in period 0 Cost at 31[st] March 2020 0 Depreciation Charge for year 0 Total as at 31[st] March 2021 0 Net Book Value At 1[st] April 2021 0 5 Debtors: 2021 £ 0 £ 0 6 Creditors: falling due in one year 2021 £ Trade Creditors Accruals - Accounts 350 Other 174
4 Tangible Fixed Assets
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
7. Funds
| Restricted UK Community Found Sunderland Culture Big Lottery BLF City Without Barriers Unrestricted Total Funds |
Balance at 1st April 2020 Receipts Payments Transfer Balance at 31st March 2021 19,974 1,823 18,151 10,975 984 9,991 9,340 839 8,501 8,282 8,282 0 |
|---|---|
| 8,282 40,289 11,928 0 36,643 -121 30,454 883 0 29,450 |
|
| 8,161 70,743 12,811 0 66,093 |
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Sunderland Black and Minority Ethnic Network Limited Company No. 06825908 Charity No. 1130886
Income and Expenditure Account 31/03/2021
| Income Charities Aid Foundation (CAF) 100.00 Sunderland City Council 5,741.00 UK Community Found 19,973.80 Sunderland Culture 10,975.00 Big Lottery 9,340.00 Sunderland City Council 24,613.00 Direct Expenses Staff: Development Worker 0.00 Outreach Worker 0.00 Healthy Steps 1,200.00 Other Staff 7,026.41 Consultants 2,057.80 Gross Profit/(Loss): Overheads Annual Accounts 700.00 Travel and Subs 262.00 Marketing 398.80 Telephone & Broadband 649.12 Rent 0.00 Insurance 0.00 Fees and Subs 275.89 Photocopying and Printing 7.40 Awards of All Events 0.00 Healthy Steps Events 0.00 Stationery 0.00 Volunteer Expenses 0.00 Sundries 51.24 Governance 0.00 Professional Fees 183.00 Evaluation 0.00 Net Profit/(Loss): |
70742.80 |
|---|---|
| 10284.21 | |
| 60458.59 | |
| 2527.45 | |
| 57931.14 |
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