AMI Community Aid Company Limited by Guarantee
Financial Statements
Year ended 31 October 2021
| Pages | |
|---|---|
| Trustees’ annual report (incorporating the directors’ | 2 to 3 |
| report) | |
| Independent examiner’s report to the trustees | 4 |
| Statement of financial activities (including income and | 5 |
| expenditure account) | |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 10 |
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AMI Community Aid
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director’s Report)
Year ended 31 October 2021
The trustees, who are also the directors for the purposes of company law, present their report and unaudited financial statements of the charity for the year ended 31 October ‘20
Reference and administrative details
Registered charity name AMI Community Aid Charity registration number 1161112 Company registration number 09290485 Principal office and registered office Flat 1, Leicester Court Upper Park Rd Salford M7 4HL The trustees B Cope K Kaufman Y Mantel Independent examiner M E Royde 41 Northumberland St M7 4DQ
Structure, governance and management
AMI Community Aid is constituted by Memorandum and Article of Association and is a company limited by guarantee. It was incorporated on 31 October 2014 as a company and the company number is 09290485. It was registered as a charity on 30 March 2015 with a charity number 1161112.
The Charity is run by the trustees who all act in an honorary capacity. A new trustee would receive copies of the previous years’ Annual Report and Accounts and a copy of the Charity Commission leaflet ‘The Essential Trustee: What you need to know’.
Risk Management
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
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AMI Community Aid
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Director’s Report) ( continued )
Year ended 31 October 2021
Objectives and activities
The objects of the charity are relief of financial hardship among people living or working in Higher Broughton or surrounding areas by providing such persons with vouchers exchangeable for food or basic household goods which they could not otherwise afford through lack of means. Preference will be given to those with large families or other disadvantages.
Public Benefit Policy
We have referred to the guidance contained In the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Grant Making Policy
Grants are made to individuals in accordance with the objects of the charity.
Strategic Report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and Performance
During the year the charity distributed food vouchers at a cost of £72,815 in furtherance of its objectives.
Financial Review
As 31 October 2021 the charity’s reserves were £6,160 (2020 - £13,779)
Reserves Policy
The Unrestricted Fund represent the unrestricted funds arising for the past operating results. The trustees are satisfied that the balance of the Fund is an acceptable level of reserves. It is the charity’s policy to maintain cash reserves of approximately one month of their average annual expenditure, to enable the charity to continue with its operations.
The trustees’ annual report and the strategic report were approved on 14th July ’22 and signed on behalf of the board of trustees by:
Y Mantel Trustee
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AMI Community Aid
Company Limited by Guarantee
Independent Examiner’s Report to the Trustees of AMI Community Aid Year ended 31 October 2021
I report to the trustees on my examination of the financial statements of AMI Community Aid (‘the charity’) for the year ended 31 October 2021.
Responsibilities and Basis of Report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the charity’s accounts as carried out under section145 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.
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:
-
Accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act: or
-
The financial statements do not accord with those records; or
-
The financial statements do not comply with the accounting requirements of section396 of the 2006 Act other than any requirement that the account give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
-
The financial statements 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 E Royde Independent Examiner
41 Northumberland St Salford M7 4DQ
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AMI Community Aid
Company Limited by Guarantee
Statement of Financial Activities (including Income and Expenditure Account)
Year ended 31 October 2021
| 2021 Note Unrestricted Funds £ Income and Endowments 5 96,199 Total income 96,199 Expenditure On charitable activities 6,7 103,818 Total Expenditure 96,315 Net Income (Expenditure) and net Movements in Funds (7,619) Reconciliation of Funds Total Funds brought forward 13,779 Total Funds carried forward 6,160 |
Total Funds £ 96,199 96,199 103,818 103,818 (7,619) 13,779 6,160 |
Total Funds £ 96,199 96,199 103,818 103,818 (7,619) 13,779 6,160 |
2020 Total Funds £ 100,563 |
2020 Total Funds £ 100,563 |
2020 Total Funds £ 100,563 |
|---|---|---|---|---|---|
| 100,563 | |||||
95,190 |
|||||
| 95,190 | |||||
4,248 9,531 13,779 |
4,248 9,531 |
||||
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 10 form part of these financial statement
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AMI Community Aid
Company Limited by Guarantee
Statement of Financial Position
Year ended 31 October 2021
| Notes | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Current Assets | |||
| Cash at Bank and in Hand | 6,160 | 13,779 | |
| Net Current Assets | 6,160 | 13,779 | |
| Total Assets less Current Liabilities | 6,160 | 13,779 | |
| Funds of the Charity | |||
| Unrestricted Funds | 6,160 | 13,779 | |
| Total Charity Funds | 10 | 6,160 | 13,779 |
For the year ending 31 October 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ Responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These 14 July 2022 and are signed on behalf of the board by:
Y Mantel Trustee
The notes on pages 7 to 10 form part of these financial statements
AMI Community Aid
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Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 October 2021
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office Flat 1, Leicester Court, Upper Park Rd. Salford M7 4HL
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, ‘The financial reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measure at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity’s ability to continue.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
Restricted funds are subject to restrictions declared by the donors.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.
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AMI Community Aid
Company Limited by Guarantee
Notes to the Financial Statements ( continued )
Year ended 31 October 2021
Accounting Policies ( continued)
Incoming Resources ( continued )
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measure reliably.
Resources Expended
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Charitable activities represent food vouchers distributed.
Governance costs are included on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction cost, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by Guarantee
The charity is a company limited by guarantee and had no share capital. The liability of each member in the event of winding up is limited to £10.
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AMI Community Aid
Company Limited by Guarantee
Notes to the Financial Statements ( continued )
Year ended 31 October 2021
5. Donation and Legacies
| Unrestricted Funds £ Total Donations 96,199 Grant 96,199 |
Funds 2021 £ Unrestricted Funds £ Total Funds 2020 £ 96,199 90,563 90,563 10,000 10,000 96,199 100,593 100,593 |
|---|---|
6. Expenditure on Charitable Activities by Fund Type
| Unrestricted | Total | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | |
| £ | 2021 | £ | £ | |
| £ | ||||
| All Activities | 103,818 | 103,818 | 96,315 | 96,315 |
7. Expenditure and Charitable Activities by Activity Type
| Activities | Total Funds | Total | |
|---|---|---|---|
| Undertaken | 2021 | Funds | |
| Directly | 2020 | ||
| £ | £ | ||
| £ | |||
| Charitable Activities | 27,800 | 27,800 | 38,700 |
| Food Vouchers | 72,815 | 72,815 | 56,490 |
| General Office Costs | 286 | 286 | |
| Legal/professional fees | 2,917 | 2,917 | 1,125 |
| Total | 103,818 | 103,818 | 96,315 |
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AMI Community Aid
Company Limited by Guarantee
Notes to the Financial Statements ( continued )
Year ended 31 October 2021
8. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows
| 2021 | 2020 |
|---|---|
| £ | £ |
| NIL | NIL |
The average head count of employees during the year was nil (2020 - nil).
No employee received employee benefits of more that £60,000 during the year (2019 - nil).
9. Trustee Remuneration and Expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. Analysis of Charitable Funds
Unrestricted Funds
| At 1 | Income | Expenditure | At 31 | |
|---|---|---|---|---|
| November | October 2021 | |||
| 2020 | £ | £ | £ | |
| £ | ||||
| General Funds | 13,779 | 96,199 | (103,818) | 6,160 |
11. Analysis of Net Assets between Funds
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2021 | 2020 | |
| £ | £ | £ | |
| Current Assets | 6,160 | 6,160 | 13,779 |
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