## 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
1
## 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:
1. 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
2. Advancing education
3. 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.
_2_
## 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;
- Teaching the core subjects of Maths, English and Science to pupils aged 5-16.
- All pupils are taught at their own level and pace.
- 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.
- 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.
- We also encourage pupils’ to bring in school work that they find difficult so we can assist them in those areas.
- We are provide a more flexible service due to our qualified teachers and our small groups
- We basically augment work done at school, by bridging the gaps in the children’s education.
- 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
3
## 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:
- examine the accounts under section 43 of the 1993 Act;
- 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
- 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:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- • 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
_4_
## **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**|
|---|---|---|---|
5
## **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
_6_
## **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.
7
## **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|
|---|---|---|---|
8
## **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|
|---|---|---|---|
9
## **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|
10
## **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|
11