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2022-02-28-accounts

EDUCATION & CARE PROJECT LTD

DIRECTOR'S & TRUSTEE'S REPORT AND ACCOUNTS For The Year Ended 28 February 2022

Company Number: 07753727

Charity Number: 1161197

EDUCATION & CARE PROJECT LTD

Contents

Page
Charity Information 3
Directors' and Trustees' Report 4 to 6
Report of the Independent Examiner 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 12

2

EDUCATION & CARE PROJECT LTD

Charity Information

Directors / Trustees: Mr Abdul Munim Choudhury Chairman
Mr Nurul Islam Secretary
Mr Mohammed Abdul Hie Treasurer
Company Number: 07753727
Charity Number: 1161197
Registered Office 85 Myrdle Street
Address: London
E1 1HL
Independent Examiner: Misbahul Karim FCCA
MMK Chartered Certified Accountants
960 Capability Green
Luton, LU1 3PE
Banks: Al Rayan Bank
97-99 Whitechapel Road
London E1 1DT
Barclays Bank

3

EDUCATION & CARE PROJECT LTD Directors' and Trustees' Report For The Year Ended 28 February 2022

The Trustees, who are also the Directors of the charity for the purpose of the Companies Act, are pleased to present their report together with the financial statements of the charity for the year ended 28 February 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Constitution, applicable law and the requirements of the Statement of Recommended Practice, “Accounting and Reporting by Charities" issued in March 2005.

The Directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

The organisation is a charitable company limited by guarantee, incorporated on 26 August 2011 and registered as a charity on 8 April 2015. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Appointment of Trustees

The Directors of the company are also charity’s Trustees for the purposes of charity law and under the company’s articles. Under the requirements of the Memorandum and Articles of Association the members of Charity Trustees consists of at least three and not more than fifteen.

Trustee Induction or Training

The Trustees maintain a working knowledge of charity and company law and are kept up to date with the operations of the charity through board meetings held biannually.

Related Parties

During the year £56,755 were transferred to Dr. Nurul Islam to send remittance to Bangladesh for charitable activities. Dr Nurul Islam is a trustee of the organisation. There ware no other payments made to the trustees and no expenses ware reimbursed.

Risk Management

The Directors and Trustees have identified the major risks to which the Charity is exposed and believe that the systems in place are adequate to mitigate those risks. The charity makes little use of financial instruments other than an operational bank account and so its exposure to price risk, credit risk, liquidity risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the charity.

Public Benefit Statement

The Trustees consider that they have complied with Section 17 of the Charities Act 2011 with regard to the guidance on public benefit published by Charity Commission. The paragraphs below demonstrate the public benefit arising through the Charity’s activities.

Objective and Activities

The Charity's objects and regulations are regulated by the constitution adopted on 12 August 2011 and incorporated by the Companies House 26 August 2011.

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4

Education & Care Project Ltd objectives are:

To meet these objectives the charity seeks charitable donations and grants from the public at general and other institutions.

This charity is managed by a committee (Board of Trustees) elected by the members to oversee the overall activities and the office bearers are in charge of the day to day running of the charity.

Roles and Contributions of Volunteers

Education & Care Project Ltd engages volunteers to support both individual programmes and the general operational procedures of the charity.

Trustees and/or principal officers:

The following officers of the charity have held office for the whole of the year.

Mr Abdul Munim Choudhury (Chair) Mr Nurul Islam (Secretary) Mr Mohammed Abdul Hie (Treasurer)

The Trustees are eligible to appoint additional co-opted trustees into the management committee under the terms of the constitution.

Review of Transactions and Financial Position:

The statement of financial activities showed a net surplus for the year of £17,955 (2020/21 surplus £1,644) and total reserves stands at £30,887 (2020/21 reserves £12,932).

Principle Funding Sources

The principle funding sources of Education & Care Project Ltd for the year ended 28/02/2022 are 100% private donations.

Investment Powers and Policy

Under the Articles of Association, there are no restrictions upon investments made by the charity. All investments will be made following careful consideration by the trustees to further the public benefit of the charity.

Charitable and Political Donations

Education & Care Project Ltd made no political or charitable donations in the reporting year ended 28/02/2022. All political or charitable donations will be made following careful consideration by the Trustees to further the public benefit of the charity.

5

Statement of Trustees' Responsibilities:

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

Select suitable accounting policies and apply them consistently; Make judgements and estimates that are reasonable and prudent; and

Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

This report was approved by the current Trustees/Directors on 29 November 2022.

Signed on behalf of Board of Trustees/Directors

...............................................

Trustee/Director/Chairman

Mr Abdul Munim Choudhury

6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDUCATION & CARE PROJECT LTD

For The Year Ended 28 February 2022

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 satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes 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 paragraph has come to my attention

  1. 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

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Misbahul Karim FCCA MMK Chartered Certified Accountants 960 Capability Green Luton LU1 3PE Date: 30/11/2022

7

EDUCATION & CARE PROJECT LTD STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 28 February 2022

Notes
Incoming Resources
Grants & Donations
2
Interest Received
Total Incoming Resources
Resources Expended
Charitable Activities
3
Governance Cost
4
Total Resources Expended
Net Income / (deficit) For The Year
Reconciliation of Funds:
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
Funds
£
91,580
2
91,582
72,547
1,080
73,627
17,955
12,932
30,887		 Restricted
Funds
£
-
-
-
-
-
-
-		 2022
£
91,580
2
91,582
72,547
1,080
73,627
17,955
12,932
30,887		 2021
£
37,726
16
37,742
35,497
600
36,097
1,645
11,287
12,932

CONTINUING OPERATIONS

None of the Charity's activities were acquired or discontinued during the above two financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The Charity has no recognised gains or losses for the above two financial periods.

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 10 to 12 form part of these accounts.

8

EDUCATION & CARE PROJECT LTD

BALANCE SHEET AS AT 28 FEBRUARY 2022

Notes
Current Assets
Cash at Bank and In Hand
6
Creditors
Amounts Falling Due Within One Year
5
Net Current Assets
Total Funds of The Charity
Unrestricted Funds- General		 2022
£
£
31,992
31,992
1,105
30,887
30,887
30,887
30,887		 2021
£
£
14,182
14,182
1,250
12,932
12,932
12,932
12,932		 2021
£
£
14,182
14,182
1,250
12,932
12,932
12,932
12,932
31,992
1,105		 14,182
1,250
12,932
12,932
12,932

These accounts were approved by the Board of Trustees on 29 November 2022

………………………………. Mr Abdul Munim Choudhury Chair of the Board of Trustees …………………… Mohammed Abdul Hie Treasurer

The notes on pages 10 to 12 form part of these accounts

9

EDUCATION & CARE PROJECT LTD Notes to the Accounts For The Year Ended 28 February 2022

1. Accounting Policies

1.1 Basis of Accounting

The financial statements have been prepared under the historical cost convention and in accordance with the applicable Accounting Standards , the Statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2005. The principal accounting policies adopted in the preparation of the financial statements are set out below.

1.2 Incoming Resources

Voluntary income and donations are included in 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 fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.

1.3 Resources Expended

Resources expended are included in the Statement of Financial Activities on accruals basis, excluded of VAT where applicable.

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 consistent with the use of those resources.

1.4 Going Concern Basis

The financial statements have been prepared on the going concern basis, as in the opinion of the 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:

Fixture & Fittings is 33% on Reducing Balance

10

EDUCATION & CARE PROJECT LTD Notes to the Accounts For The Year Ended 28 February 2022

2. Grants and Donations

Donations-Water Pump
Constructions
HMRC Grant
Zakat Collection
Ramadan Collection
Launchgood Funds
Donations-Sadaka
Donations - Direct Credit and Deposit		 Unrestricted
Funds
£
19,610
16,501
336
3,665
13,227
7,469
30,772
-
91,580		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 2022
£
19,610
16,501
336
3,665
13,227
7,469
30,772
-
91,580		 2021
£
6,653
-
-
650
3,156
62
22,565
4,640
37,726

3. Cost of Charitable Activities

Cost Directly Allocated to Activities:
Overseas Activities- Money Transfer- Bangladesh
Teachers Remuneration
Vanue Hire
Bank Charges
Repairs and maintenance
Other Legal and Professional Fee
Events and Activities		 2022
£
56,755
4,664
950
88
2,250
25
7,815
72,547		 2021
£
30,014
1,100
1,342
6
-
25
3,010
35,497

4. Governance Cost

Accountancy Fee

2022
£
1,080
1,080		 2021
£
600
600
5. Creditors
Other Credit
Accountancy Fee		 2022
£
25
1,080
1,105		 2021
£
50
1,200
1,250

11

EDUCATION & CARE PROJECT LTD Notes to the Accounts For The Year Ended 28 February 2022

6.Cash at Bank and in hand
Al Rayan
Barclays 439
Masjid Umar
Barclays
Barclays 729		 2022
£
4,845
6,118
107
10,292
10,630
31,992		 2,021
£
431
130
443
2,549
10,629
14,182

12