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 1 of 11 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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 2 of 11 ## 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**| 3 of 11 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. - The members have not required the company to obtain an audit of its accounts for the year in question in accordance - with section 476, - 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. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: 0 4 of 11 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**| 5 of 11 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** 6 of 11 ## 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**| 7 of 11 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 8 of 11 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. 9 of 11 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)**| 10 of 11 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** 11 of 11 This page does not form part of the statutory financial statements