Charity number: 1149900
Company number: 08096869
(England and Wales)
Iftiin Education & Development
Report of the Trustees and Unaudited Financial Statements
For the year ended 30 June 2022
Iftiin Education & Development Contents Page For the year ended 30 June 2022
| Report of the Trustees | 1 |
|---|---|
| Independent Examiner's Report to the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
Iftiin Education & Development Report of the Trustees
For the year ended 30 June 2022
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 30 June 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Iftiin Education & Development Charity registration number 1149900 Company registration number 08096869 Principal address Angel Community Centre, 6 Raynham Road London N18 2JF
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mohamud Osman Geddi Ahmed Moalim Abdalle Mahdi Ahmed Diriye Laila Ahmed Yahye Sh Hassan Ali Abuukar Ahmed Warsame Faisal Abdullah Kadie Maxamed Nuur Independent examiners Accentor Associates Limited 639 Green Lanes London N8 0RE
Approved by the Board of Trustees and signed on its behalf by
............................................................................. Faisal Abdullah Kadie
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Iftiin Education & Development Independent Examiners Report to the Trustees
For the year ended 30 June 2022
I report to the trustees on my examination of the accounts of the charitable company for the year ended 30 June 2022.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, 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 Company 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 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 examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the requirements of 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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.
M Ahson FCA
Accentor Associates Limited 639 Green Lanes
London N8 0RE
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Iftiin Education & Development
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30 June 2022
| Notes | Unrestricted | Restricted | 2022 | 2021 | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | 2 | 46,412 | - | 46,412 | 52,373 |
| Total | 46,412 | - | 46,412 | 52,373 | |
| Expenditure on: | |||||
| Raising funds | 3 | (32,112) | - | (32,112) | (17,083) |
| Charitable activities | (29,553) | (8,362) | (37,915) | (18,067) | |
| Total | (61,665) | (8,362) | (70,027) | (35,150) | |
| Net income/expenditure | (15,253) | (8,362) | (23,615) | 17,223 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 26,272 | 8,362 | 34,634 | 17,411 | |
| Total funds carried forward | 11,019 | - | 11,019 | 34,634 |
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Registered Number : 08096869
Iftiin Education & Development Statement of Financial Position As at 30 June 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 8 | 3,511 | 4,182 |
| 3,511 | 4,182 | ||
| Current assets | |||
| Cash at bank and in hand | 7,398 | 30,342 | |
| 7,398 | 30,342 | ||
| Creditors: amounts falling due within one year | 110 | 110 | |
| Net current assets | 7,508 | 30,452 | |
| Total assets less current liabilities | 11,019 | 34,634 | |
| Net assets | 11,019 | 34,634 | |
| The funds of the charity | |||
| Restricted income funds | 9 | - | 8,362 |
| Unrestricted income funds | 9 | 11,019 | 26,272 |
| Total funds | 11,019 | 34,634 |
For the year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance
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with section 476,
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
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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.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
0
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Iftiin Education & Development Notes to the Financial Statements For the year ended 30 June 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
Iftiin Education & Development meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
2. Income from donations and legacies
| Unrestricted funds Donations received |
2021 2022 £ £ 52,373 46,412 52,373 46,412 |
|---|---|
3. Expenditure on generating donations and legacies
| Unrestricted funds Donations Legacies Support costs |
2022 £ 31,508 - 604 32,112 |
2021 £ 1,888 13,059 2,136 |
|---|---|---|
| 17,083 |
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Iftiin Education & Development Notes to the Financial Statements Continued
For the year ended 30 June 2022
4. Analysis of support costs
| Management Finance IT Bank Charges Office/General Administrative Expenses Support cost 8 Support cost 9 Governance costs |
Activity 1 Raising funds £ £ 409 715 - 1,160 - - 195 134 - 52 - 2,740 - 613 - 1,001 604 6,415 |
2022 £ 1,124 1,160 - 329 52 2,740 613 1,001 7,019 |
2021 £ 170 - 748 1,042 - 1,600 120 3,340 |
|---|---|---|---|
| 7,020 |
5. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| Accountancy fees Staff pension contributions taff costs and emoluments Total staff costs for the year ended 30 June 2022 were: Salaries and wages Pension costs Employees |
2022 £ - - 2022 £ 30,295 - 30,295 2022 0 0 |
2021 £ 1,560 748 |
|---|---|---|
| 2021 £ 13,059 748 |
||
| 13,807 | ||
| 2021 4 |
||
| 4 |
6. Staff costs and emoluments
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Iftiin Education & Development Notes to the Financial Statements Continued
For the year ended 30 June 2022
7. Comparative for the Statement of Financial Activities
| Income and endowments from: Donations and legacies Total Expenditure on: Raising funds Charitable activities Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 45,039 45,039 (15,865) (7,067) (22,932) 22,107 5,383 27,490 |
Restricted funds £ 7,334 7,334 - (11,000) (11,000) (3,666) 12,028 8,362 |
2021 £ 52,373 |
|---|---|---|---|
| 52,373 | |||
| (15,865) (18,067) |
|||
| (33,932) | |||
| 18,441 17,411 |
|||
| 35,852 |
8. Tangible fixed assets
| Cost or valuation At 01 July 2021 At 30 June 2022 Depreciation At 01 July 2021 At 30 June 2022 Net book values At 30 June 2022 At 30 June 2021 |
Motor Vehicles £ 5,000 |
|---|---|
| 5,000 | |
| 818 | |
| 818 | |
| 4,182 | |
| 4,182 |
9. Movement in funds
Unrestricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/07/2021 | resources | resources | 30/06/2022 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 30,894 | 46,412 | (61,665) | 15,641 |
| General | (4,622) | - | - | (4,622) |
| 26,272 | 46,412 | (61,665) | 11,019 |
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Iftiin Education & Development Notes to the Financial Statements Continued For the year ended 30 June 2022
Unrestricted Funds - Previous year
| General General General |
Balance at 01/07/2020 £ 10,005 (4,622) 5,383 |
Incoming resources £ 45,039 - 45,039 |
Outgoing resources £ (24,150) - (24,150) |
Balance at 30/06/2021 £ 30,894 (4,622) |
|---|---|---|---|---|
| 26,272 |
Restricted Funds
| Comic Relief Restricted Restricted Funds - Previous year Restricted |
Balance at 01/07/2021 £ - 8,362 8,362 Balance at 01/07/2020 £ 12,028 12,028 |
Incoming resources £ - - - Incoming resources £ 7,334 7,334 |
Outgoing resources £ (8,362) - (8,362) Outgoing resources £ (11,000) (11,000) |
Balance at 30/06/2022 £ (8,362) 8,362 |
|---|---|---|---|---|
| - | ||||
| Balance at 30/06/2021 £ 8,362 |
||||
| 8,362 |
Purpose of restricted funds
Restricted
Other-Restricted
Poverty Alleviation
Comic Relief
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Iftiin Education & Development Notes to the Financial Statements Continued
For the year ended 30 June 2022
10. Analysis of net assets between funds
| Unrestricted funds General General General Restricted funds Restricted Previous year Unrestricted funds General General General Restricted funds Restricted |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 3,057 4,222 7,279 454 (5,076) (4,622) - 8,362 8,362 |
|---|---|
| 3,511 7,508 11,019 |
|
| Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 3,728 27,166 30,894 454 (5,076) (4,622) - 8,362 8,362 |
|
| 4,182 30,452 34,634 |
11. Company limited by guarantee
Iftiin Education & Development is a company limited by guarantee and accordingly does not have a share capital.
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Iftiin Education & Development Detailed Statement of Financial Activities For the year ended 30 June 2022
| INCOME AND ENDOWMENT Donations and legacies Donations Total incoming resources EXPENDITURE Raising donations and legacies Staff costs - wages & salaries Vehicle Running Costs Telephone Depreciation-Motor vehicles Staff costs - wages & salaries Charitable activities Professional fees (Activity 1) Vehicle Running costs (Activity 1) Donation (Activity 1) Cost of grant funded charitable activity (Activity 3) SUPPORT COSTS Management Marketing & Advertising Staff costs - wages & salaries (Activity 1) Finance Accountancy (Activity 1) IT Staff costs - pension contributions Bank Charges Bank Charges Bank Charges (Activity 1) Office/General Administrative Expenses Office/General Administrative Expenses (Activity 1) Support cost 8 Insurance (Activity 1) |
£ 2022 46,412 46,412 46,412 (29,580) (151) (1,106) (671) - (31,508) - - (23,138) (8,362) (31,500) (409) (715) (1,124) (1,160) (1,160) - - (195) (134) (329) (52) (52) (2,740) (2,740) |
£ 2021 52,373 |
|---|---|---|
| 52,373 | ||
| 52,373 - - (1,070) (818) (13,059) |
||
| (14,947) (1,925) (258) (11,000) - |
||
| (13,183) (170) - |
||
| (170) - |
||
| - (748) |
||
| (748) - (1,042) |
||
| (1,042) - |
||
| - (1,600) |
||
| (1,600) |
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This page does not form part of the statutory financial statements
Iftiin Education & Development Detailed Statement of Financial Activities Continued
For the year ended 30 June 2022
| Support cost 9 Printing, Postage, Stationary (Activity 1) Governance costs Motor and travel expenses Motor and travel expenses (Activity 1) Other office costs (Activity 1) Other fee (Activity 1) Accountancy fees (Activity 10) Professional Fee (Activity 10) otal resources expended et Expenditure |
(613) (613) - (10) (294) (697) - - (1,001) (70,027) (23,615) |
(120) |
|---|---|---|
| (120) (1,218) - - - (1,560) (562) |
||
| (3,340) | ||
| (35,150) | ||
| 17,223 |
Total resources expended Net Expenditure
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This page does not form part of the statutory financial statements