WELLFIELD EDUCATION
Accounts & Reports
For the year ended 31 May 2024
WELLFIELD EDUCATION
Contents
For the year ended 31 May 2024
Page
| Legal and administrative information | 1 |
|---|---|
| Trustees’ report | 2-3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7-11 |
WELLFIELD EDUCATION
Legal and Administrative Information For the year ended 31 May 2024 Status: The organisation is a charitable company limited by guarantee, incorporated on 21 May 2010 and registered as a charity on 20 January 2011. Company Number: 07261138 Charity Number: 1139943 Registered Office First Floor, 266-268 Streatham High Road London, SW16 IHS Business Address: First Floor, 266-268 Streatham High Road London, SW16 IHS Trustees Mohamud-Awl Sh. Abdi - Director Sayidali Osoble - Director Paul Smith - Director Charlotte Watts - Secretary Sydea Haque - Secretary Bankers: Lloyds TSB Town Hall Square Leicester 17 Horsefair Street Leicester, Leicestershire LE1 5PD Accountants: Issa Associates Chartered Certified Accountants 40A Maygrove Road London, NW6 2EB
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WELLFIELD EDUCATION
Trustees’ Report
For the year ended 31 May 2024
Objective
The objectives of Wellfield Education are:
To act as a resource for children of all ages living in the United Kingdom by providing advice and assistance and organising programmes of education and other activities as a means of:
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Advancing young people in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; and
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Advancing education
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To further such other charitable purposes as the trustees may determine from time to time.
Legal structure
Wellfield Education is a company limited by guarantee and a registered charity with the Charities Commission in England & Wales.
Financial statements
The trustees submit their trustees’ report and financial statements for the year ended 31 May 2024.
Policies:
Reserve policy:
The charity currently operates with minimal reserves. The trustees are endeavouring to build up its donor base with a view to having reserves equal to 6 months operating expenditure.
Risk(s) review:
The trustees have recently reviewed the major risks faced by the charity. This has resulted in efforts to raise unrestricted funds, increase charity’s donor base.
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WELLFIELD EDUCATION
Trustees’ Report (continued)
For the year ended 31 May 2024
Trustees Responsibilities
The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity.
Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the Memorandum and Articles of Association.
Activities and Achievements
The charity is managed by elected 6 trustee members, and is staffed by 4 volunteers. The office is open from Monday to Friday between 9am - 7pm.
The core of the charity’s work is educating the young people between the ages of 5-16. Our main activities include;
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Teaching the core subjects of Maths, English and Science to pupils aged 5-16.
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All pupils are taught at their own level and pace.
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The school compliments the pupils’ day school by ensuring that the subjects are delivered in line with the National Curriculum and that similar teaching methods are being used.
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Pupils are assessed on their first visit, from which we identify the areas to focus on. The time spent on subjects will be dependent on the needs of the pupil. We can therefore adjust the pace based on the pupil’s needs.
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We also encourage pupils’ to bring in school work that they find difficult so we can assist them in those areas.
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We are provide a more flexible service due to our qualified teachers and our small groups
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We basically augment work done at school, by bridging the gaps in the children’s education.
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We also provide various after-school activities including painting, drawing/art, and team sports events
Funding
The trustees express their thanks to all funding agencies and individuals that have helped the charity to develop and provide its crucial services for the local community.
This report was approved by the board and signed on its behalf by:
Director Mohamud-Awl Sh. Abdi
Date: 12[th] February 2025
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WELLFIELD EDUCATION
Independent examiner’s report
For the year ended 31 May 2024
I report on the accounts of the company for the year ended 31 May 2024, which are set out on pages 5 to 6.
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 accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 43 of the 1993 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
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to state whether particular 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 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 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:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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• to prepare accounts which accord with the accounting records, comply with the accounting requirements 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;
Issa Associates Chartered Certified Accountants 40A Maygrove Road London NW6 2EB
Date: 12[th] February 2025
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WELLFIELD EDUCATION
Statement of Financial Activities
For the year ending 31 May 2024
| Notes Incoming resources From charitable activities 2 Investment income 2 Total incoming resources Resources expended Charitable activities 3 Governance costs 4 Total Resources Expended Net resources for the year Fund balances at 31 May 2023 Fund balances at 31 May 2024 |
Unrestricted funds £ - - - - - - - - - |
Restricted funds £ 78,377 - 78,377 76,235 1,634 77,869 508 10,628 11,135 |
2024 2023 Total Total £ £ 78,377 66,132 - - 78,377 66,132 76,235 63,778 1,634 1,863 77,869 65,641 508 491 10,628 10,137 11,135 10,628 |
|---|---|---|---|
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WELLFIELD EDUCATION
Balance Sheet
For the year ending 31 May 2024
| Notes Fixed assets Tangible assets 5 Current Assets: Debtors 6 Cash at bank and in hand Creditors:amounts falling due within one year 7 Net Current Assets Total Assets less current liabilities Funds of the charity: Restricted funds |
£ £ £ £ - - - - 11,335 10,828 11,335 10,828 (200) (200) 11,135 10,628 11,135 10,628 11,135 10,628 11,135 10,628 2024 2023 |
|---|---|
For the financial year ended 31 May 2024, the company was entitled to exemption from audit under s477 of the Companies Act 2006; and no notice has been deposited under s476.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and 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 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies' regime. The financial statements on pages 1 to 6 were approved by the board and signed on their behalf by:
……………………………….. Mohamud-Awl Sh. Abdi Chair
Date: 12 February 2025
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WELLFIELD EDUCATION
Notes to the Accounts
For the year ending 31 May 2024
1 Accounting Policies
- 1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (Revised SORP 2005) and the Financial Reporting Standards for Smaller Entities.
- 1.2 Incoming Resources
Grants and donations are recognised on accruals basis.
Incoming resources are reported gross.
- 1.3 Resources Expended
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
- 1.4 Depreciation
Tangible fixed assets are stated at cost less depreciation.
Provision for depreciation of tangible fixed assets held by the charity is made at an annual rate of 25% on straight line basis.
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WELLFIELD EDUCATION
Notes to the Accounts
For the year ended 31 May 2024
2. Incoming resources from charitable activities
| Charitable income Other income 2. Investment Income Interest receivable Total Incoming Resources |
Unrestricted Funds £ - Unrestricted Funds £ - - |
Restricted Funds £ 78,377 - 78,377 Restricted Funds £ - 78,377 |
2024 Total 2023 Total £ £ 78,377 66,132 - - 78,377 66,132 2024 Total 2023 Total £ £ - - 78,377 66,132 |
|---|---|---|---|
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WELLFIELD EDUCATION
Notes to the Accounts
For the year ending 31 May 2024
3a. Direct Charitable Expenditure
| Rent & hall hire Wages & salaries Tutors Premises utilities 3b. Support Costs Total Charitable Activities 4. Governance Total Resources Expended Depreciation Legal and Professional General admin costs |
Unrestricted Funds £ - Unrestricted Funds £ - - - - Unrestricted Funds £ - - - |
Restricted Funds £ 23,257 32,655 14,568 4,569 75,049 Restricted Funds £ 1,186 - 1,186 76,235 Restricted Funds £ 1,634 1,634 77,869 |
2024 Total 2023 Total £ £ 23,257 22,345 32,655 15,033 14,568 20,448 4,569 4,468 75,049 62,294 2024 Total 2023 Total £ 1,186 1,484 - - 1,186 1,484 76,235 63,778 2024 Total 2023 Total £ £ 1,634 1,863 1,634 1,863 77,869 65,641 |
|---|---|---|---|
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WELLFIELD EDUCATION
Notes to the Accounts
For the year ending 31 May 2023
5 Tangible Fixed Assets
| At 31 May 2023 6. Debtors and prepayments Accruals Cost At 31 May 2022 Depreciation At 31 May 2022 At 31 May 2023 Additions 7. Creditors – Amounts falling due At 31 May 2023 Charged in the Year Net Book Value At 31 May 2022 |
2023 £ - - 2023 £ 200 200 |
Office Equipment £ 7,648 - |
|---|---|---|
| 7,648 | ||
| 7,648 - |
||
| 7,648 | ||
| - | ||
| - | ||
| 2022 £ - |
||
| - | ||
| 2022 £ 200 |
||
| 200 |
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WELLFIELD EDUCATION
Notes to the Accounts
For the year ending 31 May 2024
5 Tangible Fixed Assets
| At 31 May 2024 6. Debtors and prepayments Accruals Cost At 31 May 2023 Depreciation At 31 May 2023 At 31 May 2024 Additions 7. Creditors – Amounts falling due At 31 May 2024 Charged in the Year Net Book Value At 31 May 2023 |
2024 £ - - 2024 £ 200 200 |
Office Equipment £ 7,648 - |
|---|---|---|
| 7,648 | ||
| 7,648 - |
||
| 7,648 | ||
| - | ||
| - | ||
| 2023 £ - |
||
| - | ||
| 2023 £ 200 |
||
| 200 |
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