Financial Statements for the Year Ended 31 March 2021
for
Planet Mercy – CRN 08004180
Private Limited Company by guarantee without share capital use of 'Limited' exemption
Planet Mercy
Contents of the Financial Statements for the Year Ended 31 March 2021
| Page | |
|---|---|
| General Information | 1 |
| Trustees Report | 2 |
| Statement of trustees’ responsibilities | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to financial activities | 6 |
Planet Mercy
Report of the Trustees for the Year Ended 31 March 2021
The trustees present their annual report and financial statements for the Year Ended 31 March 2021 and they confirm they comply with the Charities Act 1993, as amended by the Charities Act 2006, the trust deed and the Charities SORP 2005
CHARITY NAME: Planet Mercy (Limited by guarantee) COMPANY NUMBER: 08004180 REGISTERED CHARITY NO: 1150069 TRUSTEES: A Mahmood Amina Latif Mohammad B Rashid Sahida Bano Sajad Hussain Saydia Iqbal Shazia Azam Wajid Mohammed ADDRESS: Carlson House Unit 2 & 3 Mount Pleasant Business Centre Jackson Street Oldham Manchester OL4 1HU
Page 1
Planet Mercy
Report of the Trustees for the Year Ended 31 March 2021
Structure, governance and management
Governing document
Planet Mercy is constituted as a charitable trust registered with the Charity Commission in December 2012 under charity number 1150069. It is governed by a deed of trust last updated in July 2000.
Organisational structure
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.
Objectives and activities
Our aims
The objects of the charity are set out in the charity’s trust deed and are summarised as follows:
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To develop the capacity and skill of the members of the socially and economically excluded and / or disadvantaged community of Greater Manchester in such a way that they are better able to identify, and help meet, their needs so that they may participate more fully in society. (the trustees in furthering this object are required to work for the benefit of all but in line with the teachings of Islam)
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To further such other charitable purposes as the trustees see fit from time to time (in furthering this object the trustees are required to work for the benefit of all but in line with the teachings of Islam).
Our objectives
Our objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
Use of Volunteers
Volunteers are an important resource in both our faith and community work. Volunteers are involved in most of our faith and community activities. All our trustees give their time freely. We encourage all members of our charity to be involved in voluntary activities and to share their skills with others.
Page 2
Planet Mercy
Statement of Trustees’ responsibilities
The charity trustees are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees for the purposes of charity law who served during the period up to the date of this report are set out on page 1.
Approved by the trustees and signed on its behalf by:
........................................................................ Saydia Iqbal-Wajid
Date: ...........................
Page 3
Planet Mercy
Statement of financial activities for the 31 March 2021
Donations received Cost of sales Activities for generating funds Donations paid GROSS PROFIT Expenditure Premises costs Advertising Insurance Accountancy Subscriptions Post & stationery Telephone Sundry expenses Finance costs Bank charges Depreciation Plant and machinery NET SURPLUS (DEFICIT) |
24,544 16,958 - 4,865 323 720 246 45 1,242 134 379 |
31.03.21 £ 58,358 41,502 16,855 7,574 9,281 - 9,281 8,902 |
15,861 - 525 3,300 366 720 246 - - - 505 |
31.03.20 £ 20,072 15,861 4,212 5,157 -945 - -945 505 -1,450 |
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Planet Mercy (Registered number: 1150069)
Balance Sheet 31 March 2021
| Notes FIXED ASSETS Tangible assets 2 CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year 3 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES Members equity and other reserves 4 |
31.03.21 £ 14,710 14,710 - |
£ 1,137 14,710 15,847 15,847 15,847 15,847 |
31.03.20 £ 5,429 5,429 - |
£ 1,516 5,429 |
|---|---|---|---|---|
| 6,945 | ||||
| 6,945 | ||||
| 6,945 | ||||
| 6,945 |
I approve the financial statements and confirm that I have made available all relevant records and information for their preparation.
........................................................................ Saydia Iqbal-Wajid
Date: .......................................................
Page 5
Planet Mercy
Notes to the Financial Statements for the 31 March 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and applicable UK Accounting Standards and the Charities Act 1993.
Turnover
Turnover represents donations received.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost
Activities for generating funds
Activities for generating funds comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
2. TANGIBLE FIXED ASSETS
| COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for period At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 |
Plant and machinery etc £ 4,704 - 4,704 3,188 379 3,567 1,137 1,516 |
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