NENE TEREZA
Charity No. 1137791
Company No. 06920109
Trustees' Report and Unaudited Accounts 30 June 2022
NENE TEREZA
Contents
Pages
Trustees' Annual Report 1 Independent Examiner's Report 2
Statement of Financial Activities 3
Summary Income and Expenditure Account 4 Balance Sheet 5 Notes to the Accounts 6
Detailed Statement of Financial Activities 7
NENE TEREZA Trustees Annual Report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 06920109
Charity No. 1137791
Principal Office
Community House 311 Fore Street London N9 0PZ Address Line 5
Registered Office
Community House 311 Fore Street London N9 0PZ
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: S. Curraj D. Hoti A. HyseŶĂũ G. Ibrahmi A. Milkurti Key Management Personnel Esat Brace
Accountants Gjata Accounting Chartered Certified Accountants 19 Lynbur Court, 31 Rickmansworth Road Watford WD18 7HL
OBJECTIVES AND ACTIVITIES
In setting out our objectives and aims the trustees has given a careful consideration to the Charity Commission guidance on public benefit the charity is committed to provide.
NENE TEREZA
Trustees Annual Report Page
It has been a semi successful year at Nene Tereza, we have continued to be the voice of our service users. The work that staff, volunteers and partners it is of a great quality and full of energy dedication and passion to bring the best to each and every one they come in contact with reassuring and confirms that this organisation has their own agenda finding a solutions for the issues they are facing with. The range of service that we have provided to our community is astonishing. We have set put few highlights for the year. The main objectives are the advancement of education of young The objects of the charity are the advancement of education (including mother tongue and other training) for boys and girls aged 5-16 as well as for adults learning skills for life, women’s projects, legal advice, for the public benefit through the provision of facilities for the supplementary education programmes, relief of the poverty and financial hardship for Albanian people, and also other nationalities by providing interpretation, advocacy and career advice.
Aims and objectives
• Our objectives are set to reflect our educational aims and the ethos of the supplementary education. It is important to us that we support maintain and enhance the academic success of the supplementary school.
• To provide and promote supplementary education for Albanian children; to engage young people in different sport activities; to provide training and confidence-building for Albanian speaking woman.
• To promote self-empowerment for refugees and asylum seekers within the Albanian community of London. To raise awareness of legal rights, citizenship, duties and requirements, either as UK citizens, refugees or asylum seekers within the Albanian community of London. To establish and maintain links with other similar organizations that provide support to refugee – asylum seeker communities • To improve the mainstream educational achievements and the self-confidence of pupils, the majority of whom come from the Albanian community, by providing out-of-school extra teaching in English and Maths.
• To teach and celebrate Albanian language and culture to children from or close to the Albanian community.
• To provide parents from Albanian-origin families with support for themselves; and to assist them support their children better in mainstream schools. The primary purpose of the trustees’ annual report (the treasures report) is to ensure that the charity is publicly accountable to its stakeholders for the stewardship and management of the funds it holds on trust. As a Treasurer I always consider the information needs of the primary users of the report. At Nene Tereza we normally include funders, donors, financial supporters, service users and other beneficiaries. The report is prepared to assist the user to make economic decisions in relation to the charity and to assess the Nene Tereza progress against its objectives and to understand its plans in relation to its purposes Nene Tereza is not set up with financial management in mind – is it set up in response to a Community need, by founders who have a passion to create change and deliver on a mission. The staff members as well as volunteers have worked hard during the year and have managed the Albanian supplementary schools across London, communications and many other areas of administration, having in mind that something which must be done to allow the charity’s mission-oriented work to take place. Similarly, those who sit on a charity’s trustee board, or spend their days working for it, we all become involved because we believe in Nene Tereza objectives, aims and aspirations – all the trusties’ members are particularly financially literate or competent. Yet from the day that we gain our first income, financial management becomes a consideration; a factor impacting upon the charity’s success. As the charity has grown, financial issues has become more prominent, presenting challenges, insight, threats and opportunities, and how finance is approached comes to play a key role in the determining the charity’s actions, impact and sustainability.
The Financial year 2021/22 has certainly been a year of Nene Tereza. We would like to thank in advance all our funders and other supporters who also helped us continue and develop with our projects, and every one setting up and taking Nene Tereza forward, my fellow directors, our members
NENE TEREZA Trustees Annual Report
end everyone who has given us support and guidance over the last year, without all the Community donation and other funding Nene Tereza quite simple wouldn’t exist.
We are extremely grateful for the trust that members has shown in us and our commitment to all of our members is that we will do our best to repay back. Looking backwards: so, what have we achieved this year:
During this financial year the whole organization, trustees, members, volunteers and staff pulled together demonstrated significant commitment to all Nene Tereza’s service users and uses that commitment to get us through the whole period.
We managed to secure a higher income over £120K and reduce expenditure as much as we could,which is a great achievement as we aim to suffice and secure future grants based on this year’s results. We have been awarded with the gold certificate from the head of supplementary schools (NRC) as a one of the best supplementary schools in London. All staff had in house training such safe guarding as well as child protection, fundraising, all staff and volunteers are CRB checked.
We have a connection across the other charities across the country such as Somalian, Turkish, Enfield volunteer action, NRC, Barnett, Haringey.
In the Enfield borough alongside with mother tongue project we have also run a successful Strengthening family strengthening communities (SFSC) project. This project was run in collaboration with NOSOK Centre over a week. It was a great pleasure to work together and share our experiences as well as achieve our aims objectives and targeted goals. SFSC is an inclusive evidence-based parenting programme, designed to promote protective factors which are associated with good parenting and better outcomes for children.
We have supported Albanian family in needs with foods and clothes. We have also run a project for elderly people, which has been very successful. We made sure that our charity will need a certain level of reserves to manage cash flow and provide working capital for day-to-day operations. Reason for holding reserves vary between year to year, and that depends on the factors such as income and expenditure. We always make sure that we justify our reserves by not holding a high level of cover for risks and unforeseen events appears, Our funds are meant to be spent; therefore we are able to provide solid, considered justification for keeping funds back as reserves and spending them. Reserves are unspent income and strategic decisions need to be made around when and how this is best spent, reserves are unspent income and strategic decisions need to be made around when and how this is best spent, to achieve this balance, we make sure that we need to have a good understanding of the financial strategy and business model together with the risks inherent in the model. Whatever decision our organization makes about finances, we always ensure that it is an active decision, made as part of the strategic planning, and recognizing that grants/donations are a resource to be managed and utilised to meet the needs of beneficiaries.
Our Charity trustees have a fundamental duty to manage their charity’s assets in the best interests of its beneficiaries, in this case our Community as a stakeholders.
This year the charity has seen an increase income figure in comparison to last year, we are so grateful for that, however, we needed to focus on our financial health during this financial year to continue to keep the financial stability.
It is worth mentioning here that expanding our fundraising activities is essential and remaining our primary focus for this academic year and beyond. We have establish and maintain links with other similar organizations that provide support to their own communities.
There is no any material expenditure which might enhance future income generation
NENE TEREZA Trustees Annual Report
Gjata Accounting Chartered Certified Accountants 19 Lynbur Court, 31 Rickmansworth Road Watford WD18 7HL
Fellenza Gjata
29 March 2023
NENE TEREZA Trustees Annual Report
I understand that charities below the audit threshold are not required to provide this level of detail, but we know that it is good practice to describe how income is generated in order to support the charity’s activities.
The Trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Dhurata Hoti
D Hoti
Secretary
D.Hoti
Nene Tereza
The trustees of the Nene Tereza Charity present their annual report and audited accounts for the year ended 30 June 2021 and confirm they comply with the requirements of the Charities Act 2011, the trust deed and the Charities SORP (FRS 102).
NENE TEREZA Independent Examiners Report
Independent Examiner's Report to the trustees of NENE TEREZA
I report to the charity trustees on my examination of the accounts of NENE TEREZA for the year ended 30 June 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure
Account, the Balance Sheet, and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006
Act.
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried 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)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (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.
Nene Tereza
Summary Of Income and Expenditure
For The Year Ended 30 June 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | £ | £ | |
| TURNOVER | 79,515 | 120,728 | |
| Cost of sales | (12,531 ) | (45,409 ) | |
| GROSS SURPLUS | 68,984 | 75,319 | |
| Administrative expenses | (64,771 ) | (91,596 ) | |
| Other Income | 6,142 | 15,776 | |
| OPERATING SURPLUS/(DEFICIT) AND | |||
| SURPLUS/(DEFICIT) FOR THE | 8,355 | (501 ) | |
| FINANCIAL YEAR | |||
| RETAINED EARNINGS | |||
| As at 1 July 2021 | 15,110 | 15,611 | |
| As at 30 June 2022 | 23,465 | 15,110 |
The notes on pages 7 to 8 form part of these financial statements.
Nene Tereza
Balance Sheet
As at 30 June 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible Assets | 3 | 7,524 | 14,291 | |||
| 7,524 | 14,291 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 4 | 7,603 | - | |||
| Cash at bank and in hand | 11,707 | 819 | ||||
| 19,310 | 819 | |||||
| Creditors: Amounts Falling Due Within One Year |
5 | (3,369 ) | - | |||
| NET CURRENT ASSETS (LIABILITIES) |
15,941 | 819 | ||||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
23,465 | 15,110 | ||||
| NET ASSETS | 23,465 | 15,110 | ||||
| Total Funds | 23,465 | 15,110 | ||||
| Total Funds | 23,465 | 15,110 |
As at 30 June 2022
Balance Sheet (continued)
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees 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 the small companies' regime.
On behalf of the board
Dhurata Hoti Adelina Hysenaj
Secretary Chair
Ahysenaj A.Hoti
Sefedin Curaj Gezim Ibrahimi Director Director
S.Curjah G.Ibrahimi
Eralda Sinanay Director
E.Sinanay
28[th] March 2023
NENE TEREZA
Notes to the Accounts for the year ended 30 June 2022
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds - These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds -These are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation funds - These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds -These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related expenditure Where income has related expenditure the income and related expenditure is reported gross in the SoFA.
Donations and legacies Tax reclaims on donations and gifts Donated services and facilities Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates. These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets This includes any gain or loss resulting from revaluing investments to market value at the end of the year. This includes any gain or loss on the sale of investments.
NENE TEREZA Notes to the Accounts Page 10 Expenditure Recognition of expenditure Expenditure on raising funds Expenditure on charitable activities Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the
NENE TEREZA
Notes to the Accounts for the year ended 30 June 2022
expenditure to which it relates. These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
These comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity. Taxation The charity is exempt from corporation tax on its charitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated.
All gains or losses are taken to the Statement of Financial Activities as they arise. Intangible fixed assets and amortisation Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
Stocks Stock is included at the lower of cost or net realisable value.
Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2022
| 3. Tangible Assets | ||
|---|---|---|
| Computer | ||
| Equipment | ||
| £ | ||
| Cost | ||
| As at 1 July 2021 | 22,558 | |
| As at 30 June 2022 | 22,558 | |
| Depreciation | ||
| As at 1 July 2021 | 8,267 | |
| Provided during the period | 6,767 | |
| As at 30 June 2022 | 15,034 | |
| Net Book Value | ||
| As at 30 June 2022 | 7,524 | |
| As at 1 July 2021 | 14,291 | |
| 4. Debtors | ||
| 2022 | 2021 | |
| £ | £ | |
| Due within one year | ||
| Net wages | 7,603 | - |
| 7,603 | - | |
| 5. Creditors: Amounts Falling Due Within One Year | ||
| 2022 | 2021 |
| £ | £ | |||
|---|---|---|---|---|
| Other taxes and social security | 2,960 | - | ||
| Pension payable | 409 | - | ||
| 3,369 | - |
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7. General Information
Nene Tereza is a private company, limited by guarantee, incorporated in England & Wales, registered number 06920109 . The registered office is Community House, 311 Fore Street, London, N9 0PZ.
Nene Tereza
Detailed Income and Expenditure Account
For The Year Ended 30 June 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| TURNOVER | |||||
| The national lottery community | 19,500 | - | |||
| Main Grant | 10,000 | 11,823 | |||
| Donations | 4,600 | 108,905 | |||
| Young Barnet Foundation | 6,675 | - | |||
| London Borough of Enfield | 5,000 | - | |||
| Tud TR No1 Tutor | 20,000 | - | |||
| National Heritage | 12,500 | - | |||
| Mbridge Renewal | 1,240 | - | |||
| 79,515 | 120,728 | ||||
| COST OF SALES | |||||
| Project development | 3,570 | 26,550 | |||
| Teaching expenses | 8,961 | 18,859 | |||
| (12,531 ) | (45,409 | ) | |||
| GROSS SURPLUS | 66,984 | 75,319 | |||
| Administrative Expenses | |||||
| Directors' salaries | - | 16,380 | |||
| Wages and salaries | 34,019 | 18,196 | |||
| Employers NI | 596 | - | |||
| Employers pensions - defined contributions scheme |
175 | - | |||
| Staff training | - | 4,000 |
| Children activity refreshments | 2,640 | 1,000 |
|---|---|---|
| Subsistence - Bank food | 3,024 | - |
| Rent | 10,738 | 3,527 |
| Computer software, consumables and maintenance |
595 | 367 |
| Printing, postage and stationery | 51 | 257 |
| Telephone and internet | 1,145 | 312 |
| Accountancy fees | 800 | 300 |
| Publications and other information | - | 73 |
| Bank charges | - | 68 |
| Charitable donations | 2,045 | 38,519 |
| Depreciation of computer equipment | 6,767 | 6,767 |
| Sundry expenses | 2,176 | 1,830 |
(64,771 )
(91,596 )
...CONTINUED
Nene Tereza
Detailed Income and Expenditure Account (continued)
For The Year Ended 30 June 2022
| Other Operating Income | ||||
|---|---|---|---|---|
| HMRC furlough | 6,142 | 15,776 | ||
| 6,142 | 15,776 | |||
| OPERATING SURPLUS/(DEFICIT) AND SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
8,355 | (501 ) |