Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
Financial Statements for the Year Ended 31 March 2024
for
Planet Mercy – CRN 08004180
Private Limited Company by guarantee without share capital use of 'Limited' exemption
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy
Contents of the Financial Statements for the Year Ended 31 March 2024
||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|
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their annual report and financial statements for the Year Ended 31 March 2024 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-Wajid Shazia Azam Wajid Mohammed **ADDRESS:** Carlson House Unit 2 & 3 Mount Pleasant Business Centre Jackson Street Oldham Manchester OL4 1HU
Page 1
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy
Report of the Trustees for the Year Ended 31 March 2024
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:
- 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)
- 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
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## 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:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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:
........................................................................ (H2.]29907A67507345D.: Saydia Iqbal-Wajid
20-Dec-24 | 2:30 PM GMT Date: ...........................
Page 3
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy
## Statement of financial activities for the 31 March 2024
|
**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
Rates
**Finance costs**
Bank charges
**Depreciation**
Plant and machinery
**NET SURPLUS (DEFICIT)**|
|
17,674
13,035
150
5,515
325
750
251
-
-
-
-
160|31.03.24
£
37,852
30,709
7,143
6,991
152
60
92
(68)|
17,381
12,414
560
3,670
784
720
425
-
-
-
-
213|
|31.03.23
£
50,174
29,795
20,379
6,159
14,220
406
13,814
13,601||
|---|---|---|---|---|---|---|---|
|||||||||
|||||||||
|||||||||
Page 4
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy (Registered number: 1150069)
|Balance Sheet|||||||
|---|---|---|---|---|---|---|
|31 March 2024|||||||
|||31.03.24|||31.03.23||
||Notes|£|£|£|£|£|
|**FIXED ASSETS**|||||||
|Tangible assets|2||480|||640|
|**CURRENT ASSETS**|||||||
|Cash at bank and in hand||33,269||33,177|||
|||33,269||19,363|||
|**CREDITORS**|||||||
|Amounts falling due within one year|3|-|||-||
|**NET CURRENT ASSETS**|||33,749|||33,817|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**|||33,749|||33,817|
|**NET ASSETS**|||33,749|||33,817|
|**RESERVES**|||||||
|Members equity and other reserves 4|Members equity and other reserves 4|Members equity and other reserves 4|33,749|||33,817|
||||33,749|||33,817|
I approve the financial statements and confirm that I have made available all relevant records and information for their preparation.
(H2.] ........................................................................ 29907A67507345D.: Saydia Iqbal-Wajid 20-Dec-24 | 2:30 PM GMT Date: .......................................................
Page 5
Docusign Envelope ID: 23FBFFBD-6DC0-489F-9493-72A52A6EFE31
## Planet Mercy
Notes to the Financial Statements for the 31 March 2024
## 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 reducing balance
## **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 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for period
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Plant and
machinery
etc
£
4,704
-
4,704
4,064
160
160
480
640|
|---|---|