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 2024
Iftiin Education & Development Contents Page For the year ended 30 June 2024
| Report ofthe 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 to9 |
| DetailedStatementofFinancialActivities | 10to11 |
Iftiin Education & Development Report of the Trustees For the year ended 30 June 2024
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 2024. 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 Ange! Community Centre, 6 Raynham Road London N18 2J5F
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 Anmed Yahye Sh Hassan Ali Abuukar Ahmed Warsame Faisal Abdullah Kadie Maxamed Nuur Independent examiners Accentor Associates Limited 639 Green Lanes London N8 ORE
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Approved by the Board of Trustees and signed on its behalf by
ile f 20/03/2025
Mohamud Osman Geddi
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Iftiin Education & Development Independent Examiners Report to the Trustees For the year ended 30 June 2024
| report to the trustees on my examination of the accounts of the charitable company for the year ended 30 June 2024.
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, | 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 | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners statement | have completed my examination. | 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 2. 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 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).
| 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.
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Nebree a ° M avek 26 25
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M Ahson FCA
Accentor Associates Limited 639 Green Lanes
London N8 ORE
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Iftiin Education & Development Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30 June 2024
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|||||||||
|---|---|---|---|---|---|---|---|
|Notes|Unrestricted|Restricted|2024|2023|
|funds|funds|
|£|£|£|£|
|Income|and|endowments|from:|
|Donations|and|legacies|2|60,971|-|60,971|45,117|
|Total|60,971|-|60,971|45,117|
|Expenditure|on:|
|Raising|funds|3|(440)|-|(440)|(7,677)|
|Charitable|activities|(66,567)|-|(66,567)|(33,889)|
|Total|(67,007)|-|(67,007)|(41,566)|
|Net income/expenditure|(6,036)|-|(6,036)|3,551|
|Reconciliation|of funds|
|Total|funds|brought|forward|14,570|-|14,570|11,019|
|Total funds|carried|forward|8,534|-|8,534|14,570|
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Registered Number:
08096869
Iftiin Education & Development Statement of Financial Position As at 30 June 2024
|
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 7 | 2,510 | 2,961 |
| 2,510 | 2,961 | ||
| Current assets | |||
| Cash at bankand in hand | 6,024 | 11,609 | |
| 6,024 | 11,609 | ||
| Net currentassets | 6,024 | 11,609 | |
| Total assets less current liabilities | 8,534 | 14,570 | |
| Netassets | 8,534 | 14,570 | |
| Thefunds ofthe charity | |||
| Unrestricted income funds | 8 | 8,534 | 14,570 |
| Totalfunds | 8,534 | 14,570 |
For the year ended 30 June 2024 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:
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Iftiin Education & Development Notes to the Financial Statements For the year ended 30 June 2024
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
| Income from donations and legacies | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Unrestricted funds | ||
| Donations received | 60,971 | 45,295 |
| Subscriptions received | - | (178) |
| 60,971 | 45,117 | |
| Expenditure on generating donations and legacies | ||
| 2024 | 2023 | |
| £ | £ | |
| Unrestricted funds | ||
| Donations Support costs |
440 - |
7,275 402 |
| 440 | 7,677 |
3. Expenditure on generating donations and legacies
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Iftiin Education & Development Notes to the Financial Statements Continued For the year ended 30 June 2024
4. Analysis of support costs
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Activity 1 | ||
| Management | 1,751 | 550 |
| Finance | 24,093 | 1,210 |
| IT | 1,645 | - |
| Bank Charges | 129 | 136 |
| Office/General | 42 | 125 |
| Administrative | ||
| Expenses | ||
| Governance costs | 12,517 | 1,573 |
| 40,177 | 3,594 | |
| Staff costs and emoluments | ||
| Total staffcosts forthe yearended 30 June 2024 were: | ||
| 2024 | 2023 | |
| £ | £ | |
| Salaries andwages | 23,168 | 17,547 |
| Pension costs | 925 | 843 |
| 24,093 | 18,390 | |
| 2024 | 2023 | |
| Employees | 0 | 0 |
| 0 | 0 |
5. Staff costs and emoluments
6. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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Iftiin Education & Development Notes to the Financial Statements Continued For the year ended 30 June 2024
7. Tangible fixed assets
| Motor | |
|---|---|
| Cost or valuation | Vehicles |
| £ | |
| At 01 July 2023 | 5,000 |
| At 30 June 2024 | 5,000 |
| Depreciation | |
| At 01 July 2023 | 818 |
| Charge foryear | 451 |
| At 30 June 2024 | 1,269 |
| Net book values | |
| At 30 June 2024 | 3,731 |
| At30June2023 | 4,182 |
8. Movement in funds
| Unrestricted | Funds | |||||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Outgoing | Balance at | |||||
| 01/07/2023 | resources | resources | 30/06/2024 | |||||
| £ | £ | £ | £ | |||||
| General | ||||||||
| General | 19,192 | 60,971 | (67,007) | 13,156 | ||||
| General | (4,622) | - | - | (4,622) | ||||
| 14,570 | 60,971 | (67,007) | 8,534 | |||||
| Unrestricted | Funds | - | Previous | year | ||||
| Balance at | Incoming | Outgoing | Balance at | |||||
| 01/07/2022 | resources | resources | 30/06/2023 | |||||
| £ | £ | £ | £ | |||||
| General | ||||||||
| General | 15,641 | 45,117 | (41,566) | 19,192 | ||||
| General | (4,622) | - | - | (4,622) | ||||
| 11,019 | 45,117 | (41,566) | 14,570 |
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Iftiin Education & Development Notes to the Financial Statements Continued For the year ended 30 June 2024
Restricted Funds
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|---|---|
|Comic|Relief|
|Restricted|
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|||||
|---|---|---|---|
|Balance|at|Balance|at|
|01/07/2023|30/06/2024|
|£|£|
|(8,362)|(8,362)|
|8,362|8,362|
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Restricted Funds - Previous year
Comic Relief Restricted
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|---|---|---|---|
|Balance|at|Balance|at|
|01/07/2022|30/06/2023|
|£|£|
|(8,362)|(8,362)|
|8,362|8,362|
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Purpose of restricted funds
Restricted
Other-Restricted
Poverty Alleviation
Comic Relief
9. Analysis of net assets between funds
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|---|---|
|Unrestricted|funds|
|General|
|General|
|General|
|Restricted|funds|
|Restricted|
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|---|---|---|---|
|Tangible|Net current|Net Assets|
|fixed|assets|assets|/|
|(liabilities)|
|£|£|£|
|2,056|2,738|4,794|
|454|(5,076)|(4,622)|
|-|8,362|8,362|
|2,510|6,024|8,534|
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Iftiin Education & Development Notes to the Financial Statements Continued For the year ended 30 June 2024
Previous year
| Tangible | Netcurrent | NetAssets | |
|---|---|---|---|
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 2,507 | 8,323 | 10,830 |
| General | 454 | (5,076) | (4,622) |
| Restricted funds | |||
| Restricted | - | 8,362 | 8,362 |
| 2,961 | 11,609 | 14,570 |
10. 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 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENT | ||
| Donations and legacies | ||
| Donations | 60,971 | 45,295 |
| Membership | - | (178) |
| 60,971 | 45,117 | |
| Total incoming resources | 60,971 | 45,117 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Staffcosts -wages & salaries | - | (2,332) |
| Staffcosts - pension contributions | - | (843) |
| Insurance | - | (3,500) |
| Vehicle Running Costs | (440) | : |
| Freight costs | - | (600) |
| (440) | (7,275) | |
| Charitable activities | ||
| Staffcosts -wages & salaries | - | (15,215) |
| Telecommunications | - | (1,294) |
| Rent/Rates | - | (7,196) |
| Professional fees | - | (562) |
| Cost offund raising | - | (3,441) |
| Vehicle Running costs | - | (479) |
| Donation | (26,390) | (2,510) |
| (26,390) | (30,697) | |
| SUPPORT COSTS | ||
| Management | ||
| Depreciation -owned assets | (451) | (550) |
| FreightCosts | (1,300) | - |
| (1,751) | (550) | |
| Finance | ||
| Staffcosts -wages & salaries | (23,168) | - |
| Staff costs - pension contributions | (925) | - |
| Accountancy | s | (1,210) |
| (24,093) | (1,210) | |
| IT | ||
| IT | (486) | - |
| Telephone | (1,159) | - |
| (1,645) | - | |
| Bank Charges | ||
| Bank Charges | - | (136) |
| Bank Charges | (129) | - |
| (129) | (136) | |
| Office/General Administrative Expenses | ||
| Office/GeneralAdministrativeExpenses | (42) | (125) |
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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 2024
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|---|---|---|---|---|---|---|
|(42)|(125)|
|Governance|costs|
|Other|office|costs|-|(266)|
|Accountancy|fees|(1,210)|-|
|Motor|and|travel|expenses|(4,916)|-|
|Other|office|costs|(109)|-|
|Operating|lease|rentals|-|other|(5,720)|-|
|Other|fee|-|(182)|
|Professional|fees|(562)|(1,125)|
|(12,517)|(1,573)|
|Total|resources|expended|(67,007)|(41,566)|
|Net Expenditure|(6,036)|3,551|
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This page does not form part of the statutory financial statements