ERITREAN COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR-ENDED 31 MARCH 2025
Charity Registration Number: 1134326
ERITREAN COMMUNITY CENTRE
| Contents | Page |
|---|---|
| Legal and Administration | 1 |
| Management Committee Annual Report | 2 - 3 |
| Statement of Principal Accounting Policies | 4 |
| Report of the Independent Examiner | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Bank Reconciliation | 8 |
| Notes forming part of the financial statements | 9 - 10 |
ERITREAN COMMUNITY CENTRE
LEGAL AND ADMINISTRATION INFORMATION
Constitution
The Eritrean Community Centre is a registered charity (Charity number: 1134326).
Directors and Trustees
The directors of the charity are its trustees for the purpose of the charity law and throughout this report are collectively referred to as the trustees. As set out in the Article of Association, the trustees nominate the chairman of the trustees. Trustees are elected by the members of the Charity and normally serve a period of three years, after which they must put themselves forward for election of a second term of a further three years. Trustees can normally serve a maximum of two terms and have the powers to co-opt up to three members to fill specialist roles.
The trustees serving during the year and since the year-end were as follows:
Elected Trustees
Mr Yemane Ghebreslassie (Chair) Mr Solomon Y Nere Mr Isak Ghebregziabher
Co-opted Trustees
There were no co-opted trustees during the year.
Chief Executive
Yohannes Sibhatu
Registered Office
78 Edmund Street, London SE5 7NR
Independent Examiner
Hagos & Sons Ltd, Chartered Certified Accountants, 52 Harlinger Street, London SE18 5SY.
Bankers
HSBC UK Bank Plc, 28 Borough High Street, Southwark, London, SE1 5YB.
Page 1
ERITREAN COMMUNITY CENTRE MANAGEMENT COMMITTEE ANNUAL REPORT
The Eritrean Community Centre Management Committee submits their annual report together with the independently examined statement of financial activities for the year ended 31 March 2025.
Principal activities
The Eritrean Community Centre was set up in April 2000 under the umbrella of the Eritrean Orthodox Christian Community Church, which was founded in April 1988. The principal activities of the Centre are designed to address the lack of mother tongue and supplementary education available to Eritrean children by organising various classes during weekends. The work of the organisation is integral to striving for balance in preserving cultural identity and enhancing the academic performance amongst Eritrean. The Centre therefore provides improved learning opportunities for Eritrean children to study and improve their mother tongue and other supplementary lessons which in turn help to create a study regime to better cope with the mainstream schoolwork.
The Eritrean Community Centre also organises various cultural events in order to raise the cultural awareness and self-confidence of Eritrean refugees living in London and the SouthEast of England.
Results for the period and state of affairs as at 31 March 2024
The Management Committee is required to prepare accounts for each financial year, which give a fair view of the state of affairs of the Centre and the surplus or deficit for the period. In preparing those accounts the Management Committee is required to select suitable accounting policies and then apply them consistently. The Management Committee is responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the Centre.
The results of the period ended 31 March 2025 and the balance sheet as at that date are set out on page 6 to 10. The result for the year was a surplus deficit of £5,738 (2024: deficit of £1,429). The balance in reserve account as at that date was £12,400 (2024: £6,661).
Management Committee
The Centre Management Committee membership was made up entirely of the Trustees.
Independent Examiner
Hagos & Sons Ltd, Chartered Certified Accountants, will be proposed for appointment in accordance with the SORP requirements.
Important event
On 23 November 2023, the Eritrean Community Centre, through Southwark Refugee Communities Forum, was awarded a grant of £33,000 by The Allan & Babette and Sainsbury Charitable Fund. The grant to cover the Community Centre’s core activities shall be drawn down in three instalments between 2023/24 to 2025/26 in line with the grant terms and conditions. The grant drawdown in 2024-25 amounted to £15,382 leaving a balance for future drawdown of £17,618.
Page 2
The objects of the Centre as a registered charity are for the benefits of the inhabitants of Southwark, London and in particular persons who are Eritrean or who are of Eritrean origin now living in Southwark by:
-
(i) The advancement of education, particularly but not exclusively by the provision of languages and literacy classes; and
-
(ii) The provision or assistance in the provision of recreation facilities in the interests of social welfare with the object of improving their conditions of life.
Signed on behalf of the Management Committee
Yemane Ghebreslassie Chairman 26 April 2025
Page 3
ERITREAN COMMUNITY CENTRE
STATEMENT OF PRINCIPAL ACCOUNTING POLICIES
1. Basis of Accounting
The statement of financial activities has been prepared under historic cost convention and in accordance with SORP 2000.
2. Cash Flow
The statement of financial activities does not include a cash flow statement because the Centre is exempt from the requirement to prepare such a statement under the Financial Reporting Standards 1 “Cash flow Statement”.
3. Continuing Operations
The income and operating surplus for the year wholly drive from continuing operations.
4. Total Recognised Gains and Losses
The Centre has no recognised gains or losses other than the income and expenditure shown in the financial statements of activities.
5. Creditors: Falling due after more than one year
The Centre has no creditors which fall due after more than one year.
6. Equipment and Furniture
Expenditure on equipment and furniture is written off in full to the income and expenditure accounts in the accounting period incurred.
7. Centre Status
The Centre is a registered charity (registration Number: 1134326).
Page 4
ERITREAN COMMUNITY CENTRE
INDEPENDENT EXAMINER’S REPORT TO THE MANAGEMENT COMMITTEE
I report on the accounts of the Eritrean Community Centre for the year ended 31 March 2025, which are set out on pages 6 to 10.
Respective Responsibilities of Trustees and Examiner
The Management Committee is responsible for the preparation of the statement of financial activities. The Management Committee consider that an audit is not required for this year and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts.
-
to follow the procedures laid down in SOROP 2000; and
-
to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with SOROP 2000. An examination includes a review of the accounting records kept by the Centre and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanation from you as the Management Committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 41 of the 1993 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Hagos & Sons Ltd Chartered Certified Accountants 52 Harlinger Street London SE18 5SY
26 April 2025
Page 5
ERITREAN COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2025
| Notes INCOMING RESOURCES Operating of Community Centre Activities Donations Interest Receivable Total Incoming Resources Less: Cost of Generating Funds Net Incoming Resources Available for Charity Applications RESOURCES EXPENDED Cost of Operating Charity Activities 3 Managing and Administering the Charity 3 Total Resources Expended Movement in Total Funds for the Year - Net Income/(Expenditure) for the year Total Funds Brought Forward Total Funds Carried Forward |
Total Total Unrestricted Restricted Funds Funds Funds Funds 2025 2024 £ £ £ £ 0 0 0 0 38,622 0 38,622 15,530 0 0 0 0 |
|---|---|
| 38,622 0 38,622 15,530 0 0 0 0 |
|
| 38,622 0 38,622 15,530 |
|
| 28,849 0 28,849 16,959 4,034 0 4,034 0 |
|
| 32,883 0 32,883 16,959 |
|
| 5,739 0 5,739 (1,429) 6,661 0 6,661 8,090 |
|
| 12,400 12,400 6,661 |
- The statement of financial activities includes all gains and losses recognised in the year. ** All incoming resources, resources expended, and net incoming (outgoing) recourses derive from continuing activities.
Page 6
ERITREAN COMMUNITY CENTRE
BALANCE SHEET AS AT 31 March 2025
| Notes Fixed Assets Tangible Assets Investments Current Assets Debtors Cash at Bank and in Hand Creditors: Amounts falling due within one year – deferred grant Net Current Assets Total Assets Less Current Liabilities Creditors: Amounts falling due after more than one year Unrestricted Funds General Designated Restricted Funds Approved by the trustees on 26 April 2025 and signed on its behalf by Yemane Ghebreslassie, Chairman |
2025 £ 0 0 0 0 12,400 12,400 12,400 12,400 0 12,400 12,400 12,400 0 **12,400 ** |
|---|---|
| ERITREA COMMUNITY CENTRE | ||
|---|---|---|
| BANK RECONCILIATION STATEMENT AS AT 31 MARCH 2025 | ||
| £ | £ | |
| Total income/donation |
38,622 | |
| Total Expenditure | (32,883) | |
| ------------- | ||
| Cash surplus/(deficit) | 5,739 | |
| Add: Balance B/F | 6,661 | |
| ------------- | ||
| Cash at Bank 31/03/2025 (HSBC Current Account) | 12,400 | |
| ======== |
Page 8
ERITREA COMMUNITY CENTRE NOTES TO THE ACCOUNTS
1. Donations and Appeal Income
| 1. Donations and Appeal Income | ||||
|---|---|---|---|---|
| Total | Total | |||
| Unrestricted | Restricted | Funds | Funds | |
| Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Committed giving | 0 | 0 | 0 | 0 |
| Donations, appeals & fund-raising | ||||
| events | 38,622 | 0 | 38,622 | 15,530 |
| 38,622 | 0 | 38,622 | 15,530 |
2. Cost of Operations of the Community Centre
| Total | Total | |
|---|---|---|
| Funds | Funds | |
| 2025 | 2024 | |
| £ | £ | |
| Premises Costs | 0 | 0 |
| Officer Equipment | 0 | 0 |
| 0 | 0 | |
| 3. Managing and Administering the Community Centre | ||
| Total | Total | |
| Funds | Funds | |
| 2025 | 2024 | |
| £ | £ | |
| Salaries & Wages | 15,237 | 9,374 |
| Research | 592 | 0 |
| 6 Years Audit Fees | 2,550 | 0 |
| Room Hire | 13,612 | 7,585 |
| Stationery | 892 |
0 |
| 32,883 |
16,959 |
Page 9
4. Staff Cost and Numbers
| Wages & Salaries Social security costs Other Pension cost The average number of employees during the year was: Tutors (part-time) None of the employees earned in excess of £40,000 in either year. 5. Trustees Reimbursed Expenses & Remuneration Reimbursed expenses paid to trustees acting as trustees: Travel and subsistence |
2025 £ 2024 £ 15,237 9,374 0 0 0 0 |
|
|---|---|---|
| 15,237 9,374 |
||
| 2025 2024 Number Number |
||
| 4 4 |
||
| 4 4 |
||
| 2025 2024 £ £ 0 0 |
||
| 0 0 |
None of the trustees received reimbursement of any expense or remuneration in both years.
6. Unrestricted Funds
The income funds of the Charity include unrestricted funds comprising the following balances which will be applied for general purposes.
| Restated | ||||
|---|---|---|---|---|
| Balance | Balance | |||
| 31 | ||||
| 1 April | Surplus/ | March | ||
| 2024 | (Deficit) | Transfers | 2025 | |
| £ | £ | |||
| General Fund | 6,661 | 5,739 | 0 | 12,400 |
| 6,661 | 5,739 | 0 | 12,400 |
Page 10