USWAT WELFARE TRUST
2021 ACCOUNTS
EMMANUEL STEPHENS & CO. CHARTERED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS 62 BEECHWOOD ROAD, LONDON E8 3DY
USWAT WELFARE TRUST Report and Accounts for the year ended 31st March 2021
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES
1135995
USWAT WELFARE TRUST Reports and Accounts
CONTENTS
| Charity Information | 1 |
|---|---|
| Trustees annual report | 2 |
| Accountant's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to Accounts | 6-8 |
USWAT WELFARE TRUST Charity Information
Trustees
Adelani Arogundade Tajudeen Ajani Bello Sakira Salawu
Charity Registration No: 1135995
Principal Location
7 Egham Road London E13 8PD
Bankers
The Cooperative Bank P O Box 250 WN8 6WT
Accountants
Emmanuel Stephens & Co 62 Beechwood Road London E8 3DY
Page 1
USWAT WELFARE TRUST
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31[st ] MARCH 2021
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31[st] March 2021
Review of Financial Position
Please refer to the annexed accounts for the details of the financial statements for the year ended 31st March 2021.
Reserves Policy
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
Trustees' Responsibilities in Relation to the Financial Statements
The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
- b) Make judgements and estimates that are reasonable and prudent;
c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
- d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name:
Date:
Page 2
USWAT WELFARE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF USWAT WELFARE TRUST
I report on the accounts of the Trust for the period ended 31[st ] March 2021 which are set out on pages 4 to 8.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to:
. Examine the accounts under section 145 of the 2011 Act;
. to follow the procedure s laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act;
. to state whether particulat matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 disclosures 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 consequently 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 EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
Which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act, and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act.
have not been met: or
- to which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
Emmanuel Stephens & Co.
Chartered Accountants, Business Advisers & Consultants 62 Beechwood Road London E8 3DY
Page 3
USWAT WELFARE TRUST
Statement of Financial Activities for the year ended 31[st] March 2021
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income:donations 1a Activities in furtherance of the charity 1b objects Gift Aid Received Total Incoming Resources Resources Expended Charitable activities: Gifts and donations and other charitable 2 purposes Governance costs: Management & Administration 3 Total Resources expended Net Incoming/(Outgoing) Resources for the year Net Movement in Funds 4 Accumulated funds balance Total Funds |
2021 Unrestricted Restricted Total £ £ £ 27,329 27,329 - - - - - 6,540 6,540 |
|---|---|
| 33,869 - 33,869 |
|
| 10,193 10,193 20,737 - 20,737 |
|
| 30,930 30,930 |
|
| 2,939 0 2,939 |
|
| 2,939 0 2,939 127,967 - 127,967 |
|
| 130,906 0 130,906 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4
USWAT WELFARE TRUST Balance sheet at 31st March 2021
| USWAT WELFARE TRUST Balance sheet at 31st March 2021 |
||||
|---|---|---|---|---|
| Notes FIXED ASSETS Building 7 CURRENT ASSETS Debtors 8 Cash in Hand/ Bank CURRENT LIABILITIES 9 NET CURRENT ASSETS LONG TERM LIABILITIES Amount falling due more than a year 10 NET ASSETS TOTAL FUNDS 6 Amount falling due within a year |
£ - 7,009 |
2021 £ 247,000 |
11,231 | 2020 £ 247,000 |
Approved by the Trustees and Signed on their behalf: Signature: Name: Date:
Page 5
USWAT WELFARE TRUST
Notes to the financial statements for the period ended 31st March 2021
ACCOUNTING POLICIES
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in December 2005 and applicable accounting policies in the preparation of the financial statements are as follows.
1. INCOMING RESOURCES
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from general donations, special donations and other donations from received during the year from investments and accounted for as unrestricted-funds.
| 1a. Voluntary Income: Donations General Donation Special Donations Other Donations |
2021 £ 27,329 - - 27,329 |
2020 £ 39,684 - - |
|---|---|---|
| 39,684 |
2. DIRECT CHARITABLE EXPENDITURE
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| Donations & Gifts(Zakat) Education Expenditure Imam's Cost Charity General Expenditure Rates |
2021 £ 7,600 2,593 - - 10,193 |
2020 £ 989 2,900 4,524 6,405 4,800 |
|---|---|---|
| 19,618 |
Page 6
3. MANAGEMENT AND ADMINISTRATION
| Honorarium General Expenses Accountancy fees Mortgage interest Light & Heat Insurance Telephone & fax & internet Printing, postage & stationery Repairs & Renewals Legal & professional fees Bank charges & interest |
2021 £ 0 3,599 500 5,602 0 0 795 0 9,662 578 0 20,737 |
2020 £ 0 5,954 500 5,678 1,100 0 615 750 19,035 1181 0 |
|---|---|---|
| 34,813 |
4. NET MOVEMENT IN FUNDS FOR THE YEAR
2021 The net movement in funds for the year is stated £ after charging - Depreciation of tangible fixed assets
5.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Building 0%
| 6. FUNDS At 1stApril 2020 Surplus/(Deficit) for the year At 31stMarch 2021 |
Unrestricted Restricted Total Funds Funds Funds £ £ £ 127,967 0 127,967 2,939 0 2,939 |
|---|---|
| 130,906 - 130,906 |
6.1 UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
6.2 RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 7
7. FIXED ASSETS
| 7. FIXED ASSETS | |
|---|---|
| Cost At 1stApril 2020 Additions in the year At 31stMarch 2021 Depreciation At 1stApril 2020 Charge for the year At 1stApril 2021 Net Book Value At 31stMarch 2021 At 31stMarch 2020 |
Building £ 247,000 - |
| 247,000 | |
| - - |
|
| - | |
| 247,000 | |
| 247,000 |
8. DEBTORS
| 9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Mortgage Repayment Accountancy's Fee Legal & professional fees 10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR Mortgage Other loans |
2021 £ 0 500 578 1,078 2021 £ 122,025 - 122,025 |
2020 £ 12157 500 1,181 |
|---|---|---|
| 13,838 | ||
| 2020 £ 116426 0 |
||
| 116,426 |
Page 8