SOUTHWARK REFUGEE COMMUNITIES FORUM (A company limited by guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMPANY REGISTRATION NUMBER 4971853 CHARITY REGISTRATION NUMBER 1132229 LONDON ACCOUNTANCY PRACTICE SOJOURNER TRUTH CENTRE 161 SUMNER ROAD LONDON SE15 6JL
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2024 CONTENTS Page Administrative information Report of the board of trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 9-10 Detailed Income and Expenditure
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2024 GOVERNING DOCUMENT The organisation is governed by its Memorandum and Articles of Association and 2006 Companies Act. The company is registered as a company limited by guarantee with Companies House in England and Wales and with the Charity Commission. COMPANY REGISTRATION NUMBER 4971853 CHARITY REGISTRATION NUMBER 1132229 BOARD OF DIRECTORS: Yohannes Sibhatu....................Chairperson Pauline Nandoo................... Director Manuel Monade................... Director Nihaya Al-othmani............... Director Faisal Maramazi Director FORMAL ADDRESS.. St. Giles Centre 81 Camberwell Church Street London SE5 8RB BANKERS Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB Lloyds Bank plc 25 Gresham Street London EC2V 7HN INDEPENDENT EXAMINER London Accountancy Practice Sojourner Truth Centre 161 Summer Road London SE15 6JL
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) BOARD OF TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 The Board of trustees is pleased to present its Annual Report and the financial statements for the year ended 31 March 2024. PRINCIPAL ACTIVITY The principal activity of the company continues to be the promotion of charitable purpose for the benefit of refugees and asylum seekers within the Borough of Southwark to relieve poverty, improve health, advance education and provide or assist in the provision of facilities for recreation or leisure time occupation with the object of improving the conditions of life of the said persons. SRCF'S overall aim is to enable the voices of refugees themselves to be heard. SRCF achieves its aim through: Promoting awareness of the role and skills that refugee community organisations have to offer. Facilitating collaboration between refugee community organisations and statutory and voluntary organisations. Enhancing the Integration of refugee community organisations into mainstream. Promoting of refugee participation at all levels. Identification of resources for refugee community organisations. And the development of its own capacity to meet the needs of the member agencies. REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS (See SOUTHWARK REFUGEE COMMUNITIES FORUM LTD separate Annual Report)
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) BOARD OF TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The results of the yearfs operation are set out in the attached financial statements. The net movement in funds for the year amounted to £95,348 and £57,665 in 2023. The retained reserves at 31 March 2024 amount to £175,730 and £80,382 in 2023 respectively. RESERVE POLICY The company is required to determine and explain its policy for free reserves. The trustees have reviewed its free reserve policy and have turned its entire unrestricted fund into an emergency reserve to enable SRCF to meet its obligations in the event of a shortfall in income or sudden upturn in expenditure. The organisation is aiming at free reserves to cover at least 6 months expenditure, which amounts to around £53,000 this year. In the light of the current funding level, it is expected to remain difficult in the short term to build up the free reserves of the company to the desired level. RISK MANAGEMENT The trustees have examined the major risks which SRCF facos and believe that the continued effort to bring back our free reserves to a reasonable level, combined with our annual review of the controls over key financial systems should in time provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate significant risks. TANGIBLE FIXED ASSETS The organisation has no fixed assets FUNDS AVAILABLE The present level of funding is adequate to support the continuation of the company's operations for the medium term," however, the trustees consider the financial position of the company to be unsatisfactory. To improve the financial position of the company, efforts are being made to raise more funds, which could lead to surpluses in coming years, in turn leading to improvement of the free reserves and of the financial position. VOLUNTEERS SRCF recognises the significant contributions made by volunteers.
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) BOARD OF TRUSTEES, REPORT YEAR ENDED 31 MARCH 2024 STATEMENT OF BOARD OF TRUSTEES RESPONSIBILITIES The Trustees who are also the directors are required under the Companies Act 1985 to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the organisation's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and.. select suitable accounting policies and apply them consistently. make judgements and estimates that are reasonable and prLJdent', state whether applicable standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The board of trustees is responsible for keeping proper records which disclose at any time the financial position of the company. They are also responsible for safe guarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. APPROVAL This report was approved by the board of trustees on 2024 and signed on its behalf by Director Pauline Nandoo
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT EXAMINER'S REPORT I report on the accounts of the company for the year ended 31 March 2024, which are set out on pages7to 11. Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audrt under company law and is eligiblÈ for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. and to state whether particular matters have come to my attention. Basis of independent examinerfs réport My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequendy no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attent'on.. (1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordanTr with section 386 of the Companies Act 2006., and to prepare accounts which accord with the accounting records, comply with the accounting requirernents of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met", or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Sign...... Date......W-. Q ..2024 Ade Adebambo, CPFA, MBA. CGMA. ACMA ACG London Accountancy Practice 161 Sumner Road London SE15 6JL
SOUTHWARK REFUGEE COMMUNITIES FORUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Incoming Resources Unrestricted Restricted Fund Fund 2024 2023 Total Total Voluntary Income Instment Income Total Incoming Resources 5,860 26 5,886 194,739 200,599 125,622 26 200,625 125.632 194,739 Charitable expenditure 105,277 105,277 67,967 Total Resources Expended 105,277 105,277 67,967 Net Incoming Resources 5.886 89,462 95,348 57,665 Fund balances broughtfor¥vard 2,201 78,181 80,382 22,717 Fund balances carried forward 8,087 167.643 175,730 80,382
SOUTHWARK REFUGEE COMMUNITIES FORUM BALANCE SHEET AS AT 31 MARCH 2024 2024 Total 2023 Total CURRENT ASSETS Debtors arKI Prepayments Cash at Bank Cash in HarKJ 16,556 188,216 757 108,559 205,529 205,529 108,561 108,561 CURRENT LIABILITIES Deferred IoMe Creditors and Accruals 22,500 7,299 13,000 15,179 29,799 28,179 REPRESENTED BY: FUNDS: Unrestricled Restricted 175.730 80,382 8,087 167,643 175,730 2,201 78,181 80,382 The directors who are also the trustees consider that for the period ended 31 March 2024 the Company was entitled to exemption under subsection 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain the audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts, These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies, regime. The financial statements on pages 7-11 were approved by the board of directors on Date . .J.g112./AJz/................ 2024 and signed on its behalf by . Directorl Chair Yohannes Sibhatu
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES 1.1 Basis of preparation of Financial Statements The financial statements are prepared under the historic cost convention and include the results of the company's operations which are described in the Board of trustees, Report and all of which are continuing. The accounts have been prepared in accordance with the Statements of Recommended Practice for company accounts. The company has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small company. 1.2 Incoming Resources 1.2.1 Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period. 1.2.2 Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities. 1.3 Restricted Funds Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs. 1.4 Unrestricted Funds Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds. 1.5 Designated Funds Designated funds are unrestricted funds earmarked by the board of trustees for particular purposes. 1.6 Tangible Fixed Assets All expenditure that related to equipment has been charged to the Statement of Financial Activities in the year of acquisition because they were of low value. A register of assets is maintained.
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited by Guarantee) NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2024 1.7 Resources Expended All expenditure is accourted for gross and wtEn OCCLed. The accounts are prepared uTrder ttE Historic Cost Conlerrtion. Debtors and Prepayments SoLrtIMark CourKil- StreamlifEd AsylLrn ProcessirKJ (SAP) Pension Contributions Net Salary 2024 15,840 516 200 16,556 2023 Deferred Income 2024 2023 The Alan & Babette Sainsbury Charitable Fund United St Saviourfs charity The National Lottery Fund 10,000 12,500 10,000 3,000 22,500 13,000 Credltors & Accruals 2024 2023 Net Salary ACcountaY fees Payroll Bank Charges HMRC Lloyds bank pettycash Nesl - Pension ContributiorLS Rent & Rates Projact E>penses MiscellarK)us- Office costs 194 500 79 750 100 28 4,581 1,000 2,968 4,822 1,923 5,081 300 521 19 7,299 15,179 10
SOUTHWARK REFUGEE COMMUNITIES FORUM (A Company Limited By Guarantee} DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2024 Incoming ReSoUeS Unrestricted Restricted Fund Fund 2024 2023 Total Total Donations and Legacies: United St Samour s Charity National Lottery Community FurK Trust for LorKlon -Experts by Experien Guys & St Thomas Fourxjation TruSt-car ScreeniTrJ Southwarf( COu11- Reftee WeeklBlack history month Southwark Council- Streamlined AsuM Processir¥J (SAP) The Alan & Babette Sainsbury Charitabte F1 Southwark CoutKiI COVID 19 Outreach Southwark cour11 Afgan Refugees St George's UOL-Misc events NHS SE London Misc. projects SDAC - Refugee Week Misc. Gifts Investmert Ircome 30,500 3,000 46,000 15,000 15,499 62,540 15.000 30,500 3,000 6,600 46,000 40,000 15,000 15,499 62,540 15,000 14,167 55,705 4,000 5,000 4.200 2,000 1,000 4,200 2,000 1,000 5,860 150 26 10 200,625 125,632 5,860 26 5,886 194,739 Total Incoming Resources 5,886 194,739 200,625 125,632 Outyoing Resources Unrestricted Restricted Fund Fund 2024 2023 Total Total Charitable Expenditure Project ManagemertlSalarFeS Rent & Rates Pensions Telephone & IntenEt Project Expenses Office Expenses Volunteer Expenses Payroll Accountancy Fee Membership IAP HMRC Interest Bank Charges Management Committee eJperEes InSUrae Total Resources Expended 59,109 5,295 1.908 1,683 31.699 2.640 362 309 750 80 21 153 545 723 59,109 37,500 5,295 5,400 1.908 1,125 1,683 1,259 31.699 19,378 2,640 1,136 362 291 309 282 750 500 80 80 21 21 153 72 545 212 723 711 105,277 67,967 105,277