Trustees, annual report and financial statement For the year ended 31 March 2024 The Trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements of Hodan Somali Community for the year ended 31 March 2024; The Trustees confirm that the annual report and financial statements of the charity comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charitres" issued in March 2005. Full name: Hodan Somali Community Other names by which the charity is known: Registered company number: Registered charity number: Principal address: Office 10, Canalside House 383 Ladbroke Grove London W10 SAA None 8179170 1150732 Trustees Elizabeth Cho: Chair, Mahdi Ali: Treasurer, Sahra Jama: member Priscilla Hon: Co-chair, Shukri Hassan: member, Kaltun Ahmed: member Other Members: None Secretary: Mohamed Farah, who is the director of the organisation Bankers HSBC 25 Notting Hill Gate London W113JJ Independent examiner Iqbal Hossain BK Community Accountant Ltd 124 City Road London EC1V 2NX
l. Objectives and Activities 1.1. Summary of the purposes of the charity as set out in its governing document Hodan was established for the benefit of the Somali community living andlor working in Kensington and Chelsea and surrounding boroughs. The charity's purposes are to relieve poverty, to advance education and to provide or assist in the provision of recreation and leisure activities, to improve the conditions of people's lives. 1.2. Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in accounts Hodan carried out the following activities in 2023-24: Continuing to run a drop.in service and a telephone helpline for the Somali and wider BAME community in London, as a first line of practical and emotional support for individuals and families struggling with the cost-of-living crisis and other interconnected problems. We provide advice and support on a wide range of matters, including housing, welfare, employment, utilities, and health. Clients who need further support are signposted to mainstream services andlor our one-to-one appointment service, as applicable. Delivering one-to-one sessions with the most vulnerable and marginalised members of our community, who need tailored support to help them claim all their entitlements, manage arrears, improve their budgeting skills, accessing job market andlor reduce energy bills. This support service is aimed at people with complex needs, such as poor literacy (including digital literacy), lack of English language skills, disabilities, mental health difficulties, long COVID, and/or social isolation. These holistic, person-centred sessions often include: Providing non-regulated money guidance as required, in accordance with the Money Guidance Competency Framework. Translating letters between Somali and English, and communicating with third parties (e.g. landlords or local authorities) on behalf of service users. Using Mental Health First Aid andlor Motivational Interviewing strategies, where needed. Training in digital literacy skills, both through workshops and through 1.1 support in the office while waiting for advice. We have updated our Digital Literacy Skills Framework, and there are bNO active long-term volunteers and three staff members (one of whom is a former volunteer) trained in using the framework. Training in employability-related skills. Our new project builds on the Digital Literacy Project to support community members, especially youth, who are unemployed or under- employed. We provide employability advice and support drop-in sessions in which we help people with applications andlor signpost them to education and training providers or NOTE: The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
mainstream employment agencies. We also design and deliver workshops focusing on specific employability-related skill areas - building confidence and self-esteem, job searching, CV writing, online applications, and the interview process. Continuing to offer a Befriending service via home visits, and in some cases through OLJr telephone helpline, for people experiencing loneliness, social isolation, bereavement, andlor poor mental health. Expanding the Social Space and Wellbeing Project for Women, which now offers five fitness classes per week. A trained and experienced fitness instructor provides two sessions of 'Zumba on Zoom, (online video call), two in-person Zumba classes (one at White City Community Centre and the other at Canalside House, Ladbroke Grove), and a Chair-Based Exercise class at White City Community Centre for service users with limited mobility. All classes are free of charge and include dedicated social time and, in ij the case of the in-person sessions, complementary refreshments. 2. Achievements and Performance 2.1. Summary of the main achievements of the charity, identifying the difference the charitvs work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole 2.1.1. Reducin the Im act of Povert and Disadvanta Hodan has expanded its Advice and support Service to four days per week. We have continued to improve the quality of our service to meet, and sometimes exceed, AQS expectations. Our AQS certification was successfully renewed in December 2023 with only two corrective actions (increasing the frequency of supervision for staff and increasing the level of professional indemnity insurance), which have now been completed. We received several commendations for good practice from the AQS inspector. We continued to provide services in the AQS Subject-Based Categories of Welfare Benefits, Housing, and Employment, with the addition of Health and Community Care, and the Client-Based Categories of Disability, Older People, Refugees and Asylum Seekers, and Women, with the addition of Race Equality. In addition to these specific categories, we also provided advice relating to local services, education and training, confidence-building, social integration, and other related matters. We successfully resolved a total of 855 cases in 2023-24 (compared to 751 in 2022- 23: a 14 % increase), presented by 288 clients (compared to 294 in 2022-23: a 20/, decrease). This indicates a modest increase in the mean number of cases per client, from 2.5 to 2.9. The majority of resolved cases involved reducing the impact of poverty and disadvantage within our local community, with 68 % of clients coming from either W10, W11, NW10, SW5, SW6, W2, W9, W12, or W14 postcode districts. The remaining 32 % were spread over a wide geographical area. We maintained our work on income maximisation in response to the cost-of-living crisis, assisting people to apply for welfare benefits and other sources of financial or in-kind support from the central government or local authorities, through our ongoing funding from the Trust for London and a new grant from the City Bridge Trust and Postcode Society Trust . We supported 224 service users to maximise their income by claiming their entitlements in 2023-24 (our largest matter category), towards a
frve-year target of 300 people by September 2028. This suggests we are on track to exceed our project target by a very significant margin. The total financial gain secured by these clients was £278,508.94, almost double the £140,735.48 secured in the previous year. As in previous years, our work on income maximisation also had a wide range of non-financial outcomes. These included, among many others, reducing stress, anxiety, depression and suicidal ideation; preventing eviction and homelessness; and helping people to pay off arrears and avert court action. We strengthened our focus on energy saving and supported 68 people (towards a five-year target of 150 by September 2028) to reduce their energy bills andlor prevent the disconnection of utilities by adopting energy-saving measures, improving their budgeting skills, changing suppliers, and/or claiming government support, as appropriate. Hodan has passed the initial stage of validation for the Energy Redress Scheme, and we are waiting for the next round of funding to be announced. We dealt with 139 housing-related cases, our second-largest matter category. In addition to rent arrears, these included advocating on clients, behalf with local authorities, housing associations, or private landlords to secure necessary and often long-overdue maintenance or improvements to properties. We also dealt with 33 health-related cases, most of which involved securing home adaptations andlor mobility equipment (wheelchairs, walking frames, etc.) for disabled people, enabling them to continue living independently in their own homes.,, 2.1.2. Buildin Skills and Confidence A total of eight volunteers, two medium-term and six long-term, participated in the digital literacy project during the year. We conducted two rounds of Digital Literacy Skills workshops in 2023-24, one in July 2023 with 21 service users, and the other in December 2023 with 22 service users. A total of 91 people have participated in the project at least once (this includes people who were trained in digital literacy skills while waiting in the queue to access other services at the Hodan office). Of the 91 participants, a total of 86 (94.5 % ) recorded a skill gain of 1 point or more , as determined by comparative assessments with the Hodan Digital Literacy Framework at baseline and at the most recent review. Among those who recorded a skill gain, the mean gain was 14.9 points (compared to 10.7 points in the first six months of the project) and the median was 10 points. The highest indrvidual skill gain recorded so far during the project is 54 points. As in previous years, participants experienced a range of benefits from digital literacy skills training. Some of these were: Reductions in isolation and loneliness through reconnecting with friends and family, both in the UK and overseas, through messaging and video calling apps Improved ability to access public services such as GP appointment bookings, repeat prescriptions, council tax payments, and welfare-related administrative tasks such as updating Universal Credit journals Improved ability to carry out daily activities, such as shopping and banking online Easier access to information, such as public transport timetables, prayer time reminders, weather forecasts, daily news bulletins, and recipes 111 p A gain of I point in this metric can represent either (a) the difference between doin8 a specific task independently and doing it with help, or (b) the difference between doing it with help and being unable to do it at all. The numerical skill gain is not necessarily proportional to the impact on service users, lives.
In 2023-24 we increased our emphasis on employability skills, both within and beyond the category of digital literacy. We have developed a bespoke Hodan Employability Skills Framework, incorporating Module 1 ('Foundation Skills,), Module 2 ('Communicating') and Module A2 ('Looking for a job,) from the original Hodan Digital Literacy Skills framework, together with a new Module A3 on 'Being interviewed for a job, that includes specific interview skills and navigating public transport to the interview venue. We conducted 35 employability advice and support drop-in sessions in 2023-24, in which a total of 25 people (towards a 5-year target of 70 by September 2028) improved their employability by building confidence and gaining new skills. Employability workshops for young people are scheduled to start in May 2024 in collaboration with NOVA New Opportunities. Of the 25 drop-in session participants, 15 have already secured a new job, one has gained a place on a paid training programme, and another has applied for teacher training. 2.1.3. Mental Ph sical and Social Wellbein As in previous years, we have continued to offer Mental Health First Aid and Motivational Interviewing alongside the regular advice provision where necessary. Reported outcomes include improvements in mental and emotional wellbeing, reduced stress and depression, and reduced isolation or loneliness. The Befriending Service worked with a total of 44 clients in 2023-24, an increase of three from 2022-23. While new enrolment for the Befriending Service has slowed down since COVID-19 lockdowns ended, as most people have been able to resume their normal social activities, we still maintain a steady core of regular service users who are housebound and socially isolated because of their age andlor chronic illnesses or disabilities. Most of the former Befriending Sérvice clients are still using other Hodan services. Our Social Space and Wellbeing Project is continuing via Zumba on Zoom (two sessions per week), in-person Zumba (two sessions per week), and a weekly Chair- Based Exercise class. The project now has two separate WhatsApp groups, one with 62 members and the other with 31. While not all these women participate regularly, let alone every week, they have all attended at least one class over the course of the project. There are also 40 other women who attended the classes but did not join either of the WhatsApp groups, bringing the total number of people who participated during the year to 133. This is an increase of 26 from last year. As in previous years, the feedback for this service has been ovenmhelmingly positive, with participants reporting a wide range of different wellness benefits: Mental wellbeing.. feeling happier, lighter, younger, more energised; less bored, less empty, less stressed; more self-care time Physical wellbeing.. feeling generally fitter or healthier, losing weight, improved strength or flexibility, fewer aches and pains Social wellbeing." less lonely l isolated, more confidence, getting to know neighbours, making friends, supporting each other, learning about other cultures, improving English language skills
More detail and a breakdown by class type (In-Person Zumba, Online Zumba, or Chair-Based Exercise) can be found in the ARISE Project year 2 report. 2.2. Performance against human resources targets 2.2.1. Recruitment The new 2023-26 strategic plan includes a succession plan for managing the impendrng retirement of Mohamed Farah, who has been Executive Director since Hodan was established in 2005. The key objective, which is ongoing, is to support Khalid Ali as the incoming Executive Director through training, mentoring, and work shadowing. We have drafted an updated job description, to be approved by the Trustees, for a new part-time Advice and Support Worker to join the team. We intend to advertise this position internally to existing volunteers in the first instance. The following 2023-24 targets have not yet been met: To recruit, induct, and train a new Trustee with experience in navigating significant organisational change. Carried fonvard to 2024-25. To recruit, induct, and train eight new short-term volunteers and bNO medium- to long- term volunteers for the Digital Literacy Skills project. We recruited two short-term volunteers, as well as a medium-term (5 weeks) full-time paid intern who can contribute to Digital Literacy Skills workshops in June/July 2024 as needed. 2.2.2. Induction and remuneration We have met the target for ensuring that all new personnel, including volunteers, receive a thorough induction based on the Competencies Framework and the person specification for their job. The responsibility for induction and training of volunteers is gradually being transferred from Mohamed Farah as Executive Director to Khalid Ali as incoming Director. We have conducted a review of pay and confirmed that all current staff members are paid at or above the London Living Wage of £13.15 per hour, which corresponds to £25,642.50 per annum (pro rata for part-time staff). 2.2.3. Su ervision and su ort Supervision was identified as a corrective action in the 2023 AQS review. We have improved the reporting of supervision and increased the frequency from quarterly to bi-monthly. The responsibility for supervision and training of volunteers and, later, paid staff is gradually being transferred from Mohamed Farah as Executive Director to Khalid Ali as incoming Director. 2.2.4. Trainin and develo 11 ment The incoming Director has completed training in Monitoring & Evaluation (Theory of Change), fundraising. health and safety management, supervision, and performance management (e.g., reviewing Training and Development Plans and conducting appraisals). See 2023-26 Strategtc Plan for deta ils.
New short-term volunteers have received training in Safeguarding and the use of the Hodan Digital Literacy Framework. The other target in this section was: All medium- to long-term volunteers to receive training in Mental Health Awareness. Deferred to 2024-25 2.2.5. Mana ement and en ement We conducted a review of all policies and standard operating procedures to reflect AQS v4. A cybersecurity and data protection audit has been scheduled to take place in May 2024. 2.2.6. Evaluation and review We have completed the Year 2 evaluation for the ARISE project funded by the National Lottery Reaching Communities Fund. The values-centred evaluation framework has been updated. The following targets are still pending: Prospective Director to be trained in project monitoring and data collection with the framework. Deferred to 2024/25. Final evaluation of Access to Benefits project (Trust for London). Due in 2024/25 as the project end date is June 2024. 2.3. Performance against targets for continuous improvement of advice service A new consultation with service users was conducted in 2023 to identify unmet needs as part of the development process for the new 2023-2026 Strategic Plan. The new plan for the Advice Service has a stronger emphasis on supporting clients with (a) income maximisation strategies and (b) reduction of energy bills. We had previously intended to seek FCA authorisation to provide debt adjustment advice and credit information services, as a partner in a project organised by the Council for Somali Organisations. but this project did not go ahead as CSO'S funding application was unsuccessful. We decided not to pursue a solo application to FCA and have instead focused on offering money guidance services, rather than financial advice services, as the former do not require authorisation. All policies and procedures in the Quality Manual have been updated for compliance with the new Advice Quality Standard (AQS v4). The frontline staff have been trained on AQS v4 and the revised policies. AQS certification was successfully renewed with several good practice commendations. We hosted an intern from The London Interdisciplinary School in summer 2023 to conduct desk research to understand Hodan's place within local voluntary sector, including our unique selling points. The researcher identified several new opportunities for collaboration with like-minded organisations, which have been incorporated into the new strategic plan. The new plan included a 2023-24 target for increasing the total number of service users across all Hodan's services to 480. The total number of service users in 2023- 24 was recorded as 414 across the Advice and Information Service (281) and Wellbeing and Social Space Project (133) after correcting for double counting of those with 'Zumba' listed as a matter category on Advice Pro. There may have been some new service users who attended the summer exGursions only, but we did not collect this data.
2.4. Performance against fundraising targets We exceeded our overall income target of £120,000 for 2023124. Our total income was £158,208. We have started, and are continuing to develop, a database of potential funders with their respective priorities and application deadlines. Hodan has secured a large grant from the City Bridge Trust 'Bridging Divides, programme for a total of £185,425 over five years, providing core support to the Advice and Information Service (with an emphasis on income maximisation and energy bills) and funding employability skills workshops and drop-in sessions. The project began on 1 September 2023 and will run until the end of August 2028. In 2023-24 we also received a one-off grant of £14,825 from Sport England towards the Wellbeing and Social Space Project, a grant of £25,000 from the Postcode Lottery towards core costs, and a small grant of £5,000 from John Lyon's Charity to provide summer holiday excursions for disadvantaged families. We have also been approved to receive £16,978 from the National Lottery (Award for All) starting in May 2024 to provide youth football coaching and employability skills. We made some other small applications that were unsuccessful. We are preparing large grant applications to Garfield Weston Foundation for core costs over several years, and to the National Lottery Heritage Fund for a four-year project on traditional Somali dance and poetry (Buraanbur), as well as several smaller bids. We have been approved to receive some funding from the Royal Borough of Kensington and Chelsea via the ongoing partnership project with Midaye and Dadihiye, but the amount and release date have not been confirmed. Midaye submitted a solo application this year, but the Council confirmed they had approved the grant on the understanding that it was for the partnership. We are still in negotiations with the Council about this. While we have maintained our focus on grant-based fundraising, the Hodan website now includes a secure payment platform for direct donations (see marketing targets below), and we will continue to explore ways of diversifying income sources. The current strategic plan proposes exploring research partnerships with universities in 2024-25 and reaching out to private companies with Corporate Social Responsibility (CSR) schemes in 2025-26. 2.5. Performance against marketing targets Our 2023 summer intern met the targets of conducting systematic research into the voluntary sector in London and Hodan's place within it, and of identifying Unique Selling Points (USPS: services that Hodan offers but other charities do not). We have updated the Strategic Plan and the outbound Signposting & Referrals Directory accordingly. We have not yet created a marketing programme for inbound referrals based on these recommendations. To action in 2024-25 The target for regular updates to Facebook and X (formerly Twitter) pages is being met. We also have an Instagram page. Other social media platforms such as Snapchat and Linkedln were explored but not felt to be necessary at this time. 2.6. Newtargets for 2024-25
The 2024 update of the strategic plan will include targets for key project areas, alongside the targets for continuous improvement of the advice service. These will be combined under the heading of'operations,. While we already have strategic objectives for three project areas, they had not previously been translated into specific targets. The areas are: 'Skills Development, . covering digital literacy and employability 'Wellbeing and Social Inclusion, covering the women's Zumba / Chair-Based Exercise classes with dedicated social time. and the proposed new Somali dance project 'Family and Youth Work, _ covering football sessions, excursions, and family fun days: We note that in practice our youth work often includes an element of skills development, e.g. combining football sessions with employability training, but for the purpose of target setting we have found it helpful to separate them out. Performance against these new targets will be reviewed in the 2024-25 annual report. 3. Financial Management and Reserves 11 3.1. Statement explaining the policy for holding reserves stating why they are held A Contingency Reserve is held in order to retain sufficient funds to cope with a worst-case scenario of a sudden cessation of all funding. In this circumstance the fund should be large enough to enable: (i) Hodan to continue to operate for a period of six months, this being a reasonable period of time decided by the Trustees to complete ongoing work and make arrangements for winding down; and (li) Hodan to cover any other costs involved in winding up. To allow the Trustees flexibility to deal with unforeseen opportunities or act to mitigate unexpected risks, such as a partial cessation or temporary reduction of funding, up to half of this Contingency Reserve may be diverted to an Urgent Opportunities Fund (provided that there is still enough funding left to cover winding- up costs). In the event that this is used, the Trustees should discuss a strategy for replenishing the reserdes during the annual review. The Contingency Reserve is an unrestricted reserve and does not include funds that have already been earmarked, e.g., for staff salaries within funded projects. 3.2. Financial review Hodan has developed a Fundraising Strategy built into its strategic plan and reviewed on a yearly basis. The Treasurer is responsible for financial management and presents the organisation's financial situation during trustee meetings.
- Structure, Governance and Management Type of governing document Constitution How is the charity constituted? Charitable company limited by guarantee Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees The management of the charity is the responsibility of the trustees, who are elected under the terms of the governing document of the organisation. The new Board of Trustees is elected at Hodan AGMS by service users. All registered members have the right to stand for election as trustees (members of the management committee). The management committee may in addition appoint not more than three co-opted members but so that no one may be appointed as a co-opted member if, as a result more than one third of the members of the management committee would be co- opted. The management committee must consist of no fewer than four and no more than ei ht trustees. Hodan has a risk management policy that is reviewed and updated on an annual basis. The risk management policy has been revised to take into consideration the additional pubfic health risks from COVID-19. We have also updated our safeguarding policy to include measures for safeguarding 'customers in vulnerable circumstances,, according to the FCA definition. How are risks managed? How are activities reviewed? Hodan carries out a full evaluation in October every year, which covers compliance with organisational and funder objectives, client satisfaction, accuracy and appropriateness of advice, a review of training and development, support and supervision, service effectiveness and efficiency, and Equality, Diversity & Inclusion (ED&I). We also hold focus groups and interviews to obtain rich qualitative data on specific projects. All is fed into our Strategic Plan, which is reviewed on a rolling basis and fully reviewed at least once a ear, and our Annual Plan, u dated uarterl Signed on behalf of Management committee by: Signed: ---- Date: 09/05/2024 6.LtZABèJT..C.hO........ Printed name: _-__ Position: 10
Independent examiner's report to the truslees of HODAN SOMALI COMMUNITY For the year ended 31 March 2024 I report on the accounts of the company for the period ended 31 March 2024, which are set out on pages 12 to l 8. Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfred myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5){b) of the 2011 Act; and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination Fncludes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records, It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no other matter except that referred to in the above paragraphs, has come to my attention: (l )which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Md Iqbal Hossain, ACCA B K Community Accountant 124 City Road London ECIV2NX Date: 9 May 2024
HODAN SOMALI COMMUNITY Statement ot Financial Activities (Including income and expenditure account) 31 March 2024 TOTAL Funds 2024 11 Incoming Resources Not Unrestrict Restricte ed Funds Uniestri cted Funds TOTAL Funds 2023 Restricte d Funds Donation and Legacies 60 156,706 156,766 100 116,616 116,716 Investment Income 1,432 1,432 326 326 Total Income 1,492 156,706 158,198 426 116,616 117,042 Expenditure on: Charitable activities 70 140,124 140.194 76 109,338 109,414 Governance Costs 1,420 1,420 1,233 1,233 Total exp.enditure 70 141,544 141,614 76 110,571 110,647 Net Income & net movement in funds 1,422 15,162 16,584 350 6,045 6,395 Reconciliation of fund: Total funds brought forward 33,020 105,018 138,038 32,670 98.973 131,643 Total funds carried forward 34,442 120,180 154.622 33,020 105.018 138,038 TOTAL RECOGNISED GAINS AND LOSSES The Charity has no recognised gains or losses other than the net movement in funds for the above period. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 14 to 18 form part of these accounts. 12
HODAN SOMALI COMMUNITY BALANCE SHEET AS AT 31 MARCH 2024 Note FIXED ASSETS 2024 2023 Office Equipment 10 5,162 4,674 Debtors Cash at Bank Cash in hand Total Current Asset$ 150,261 406 133,965 445 134,410 150,667 Creditors and Accruals 12 (1,207) (1,046) 149,460 133,364 154,622 138,038 Net Current Assets Net Assets Unrestricted Funds Restricted Funds 34,442 120,180 33,020 105,018 138,038 Total Funds 154,622 Exemption from audit For the year endin9 31/0312024 the compan is entitled to exemption from the requirement to obtain an audFt under section 471 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowled e their responsibilities for complyin the Companies Act 2002with respect to accounting recor with the requirements of accounts. s and the preparation of The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to company's subject to the small companies, regime. These accounts were approved by the Board of Directors and Trustees on 9 May 2024 and were signed on its behalf by: 11 Signed - Printed name .e.U_ZAfjLlll.Ldo..-..... Position The notes on pages 14 to 18 form part of these accounts. 13
HODAN SOMALI COMMUNITY Notes to the Accounts For the year ended 31 March 2024 l. Accounting Policies The principal accounting policies, are summarised below. The accounting policies have been applied consistently throughout the year. 1.1 Basis of Accounting The financial statements have been prepared under the historical cost convention and in accordance with the applicable Accounting Standards and the Statement of Recommended Practice Accounting and Reporting by CharitÉes published in March 2005 and the Companies Act 1985. The company has taken advantage of the exemption in Financial Reporting standard No. I from the requrrement to produce a cash flow statement on the grounds that it is small company. 1.2 Incoming Resources Income from activities, voluntary income and donations are included rn incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors, conditions have not been fulftlled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraÈsing costs. 1.3 Resources Expended Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered. Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis conststent with the use of those resources. 1.4 Going Concern Basls The financial statements have been prepared on the going concern basis, as in the opinion of the director and trustees, there are no issues arising which would suggest any other basis as being more appropriate. 1.5 Depreciation Depreciation is provided using the following rates and bases to reduce by annual instalments the cost, less estimated residual value. of tangible assets over the estimated useful lives: Furniture, Fixtures. Fittings and Equipment- 2070 on reducing line basis. 14
HODAN SOMALI COMMUNITY Notes to the Accounts For the year ended 31 March 2024 11 2. Income from donations and legacies Grants. donations, and legacies: Unrestricted Funds Restricted Funds 2024 2023 Small Donation ARISE John Lyons Charity Trust for London (TFL) Award For All Postcode Society Trust City Bridge Trust RBKC Adult, social care Mida Greater London Authority (GLA) The National Lottery Community Fund Other Income (CSO) TOTAL Income 60 60 100 11,182 5,000 18,000 16,748 25,000 16,500 5,000 18,000 16,748 25,000 16,500 15,000 21,550 21,550 23,550 995 995 8,958 52,913 52,913 57,726 200 116,716 60 156,706 156,766 3. Investment Income 11 2024 2023 Bank Interest 1,432 1,432 326 326 Total 15
HODAN SOMALI COMMUNITY Notes to the financial statements (continuing) 4. Expenditure on Charitable Activities by Fund type: Un- restricte Restricted Funds Illl 11 Un- Restricted Funds Total 2024 restricte Charitable activities & Support Cost Total 2023 Funds Funds Salary, NIC & Pension Telephone Rent & Rates Volunteer Expenses ARISE Employment Project staff Training Insurance Consultancy/ Evaluation stationary & Postage Website & It su ort Advice UK Project cost- Funda FCA Publicity & Adverts Bank Char es Hos itallty Depreciation Total 86,749 1,106 7,189 1.900 15,960 100 483 1,453 11,705 1,299 1,120 2.413 86,749 1.106 7,189 1,900 15,960 100 483 1,453 11,705 1,299 1,120 2.413 75,416 708 5,568 1,424 12,260 75.416 708 5,568 1,424 12,260 300 1,445 7,463 1,389 853 1,259 300 1,445 7,463 1,389 853 1,259 Famlly 5,610 5,610 975 589 975 589 70 171 1.302 140,194 55 55 76 29 1,169 109,414 70 76 171 1,302 140,124 29 1,169 109,338 70 76 5. Governance Costs: Un-restricted Funds Ip Restricted Funds Total 2024 Total 2023 Bookkeeping/ Payroll Compliance Independent Examination Total 154 316 950 1,420 154 267 316 950 1,420 316 650 1,233 16
HODAN SOMALI COMMUNITY Notes to the flnancial statements (continuing) Year ended 31 March 2024 6. Expenditure on Charltable Activities by Activity type: Charitable activities & Support Cost Governan ce Fund raislng Total 2024 Total 2023 Services Property Costs Depreclatlon Direct Costs Salary Other indirect Costs 1,790 1,302 50,283 86,749 70 140,194 1,790 1,302 51,703 86,749 70 141,614 5,843 1,169 33,986 75,416 76 116,490 1,420 Total 1,420 7. TRUSTEES EXPENSIS No expenses are paid to Trustees. No employee earned more than £60,000 during the year (2023: nil). 8. Related party Iransactions There are no related party transactions to disclose for 2024 (2023: none) There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. 9. Taxation The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. l O. Fixed Assets Computers Office Equipment Total Cost AtIA ril 2023 Additions Dis osals At 31 March 2024 5,425 325 418 1,465 5,843 1,790 5,750 1,883 7,633 Depreciation At l A rll 2023 Dis osals Char e this eriod At 31 March 2024 1.085 84 1.169 933 2,018 369 453 1,302 2,471 Net book value At 31 March 2024 At 31 March 2023 3,732 4,340 1,430 334 5,162 4,674 17
HODAN SOMALI COMMUNITY Notes to the financial statements (continuing) Year ended 31 March 2024 Debtors 1112024 2023 Debtors 12. Creditors 11112024 2023 Deferred Income endent examination Tradin Creditors Inde 950 257 1,207 650 396 1,046 Accruals: Provision for Accountancy fees. Benefits in kind There were no benefits in kind in the period. 11 Independent examination and accountancy services During the period, the cost of the examination and accountancy services was £950. Glossary of terms Restricted funds: These are funds given to the charity, subject to specific restrictions set by the donor, but still within the general objects of the charity. These are amounts owed by the charity, but not paid during the accounting period. Creditors Debtors: These are amounts owed to the charity, but not receFved in the accounting period. Prepayments: These are services that the charity has paid for in advance, but not used during the accounting period. 18